Broker Research: Sector, Macro and Strategy Notes

Barclays·2026-08-06Thematic

Humanoid robotics·Overweight

Goldman Sachs·2026-08-06Sector

3037.TWATS.VIABF substrates·Overweight

J.P. Morgan·2026-08-06Sector

0005.HK2388.HK2888.HKHK banks·Overweight

Goldman Sachs·2026-08-06Sector

1299.HK1828.HK

Nomura·2026-08-06Macro

CNY·Overweight

Goldman Sachs·2026-08-06Sector

002508.SZ603195.SH603816.SHChina property value chain·Underweight

Morgan Stanley·2026-08-06Strategy

Hong Kong equities·OverweightChina A-shares·Underweight

J.P. Morgan·2026-08-06Sector

China solar glass·Overweight

Morgan Stanley·2026-08-06Sector

Iron ore·Neutral

Goldman Sachs·2026-08-06Sector

FSLRARRY.USCSIQ.USJKS.USNXTSHLS.US

Morgan Stanley·2026-08-06Sector

SKHYNIX SMSNMemory·Overweight

J.P. Morgan·2026-08-06Sector

European luxury·Neutral

J.P. Morgan·2026-08-06Sector

China biotech·Overweight

J.P. Morgan·2026-08-06Sector

006400.KS373220.KSKorea batteries·Overweight

HSBC·2026-08-06Strategy

601919.SHChina A-shares·Overweight

Goldman Sachs·2026-08-06Sector

2383.TW

Bernstein·2026-08-06Sector

US solar manufacturing·Overweight

Nomura·2026-08-06Sector

KIOXIA SNDK

Bernstein·2026-08-06Sector

European retail REITs·Overweight

Goldman Sachs·2026-08-06Sector

EQNR.OLGALP.LSREP.MCIntegrated oils·Overweight

Research: Broker notes on sectors, macro, rates and strategy

Thematic Investing Physical AI: Mapping the Humanoid Value Chain

Taiwan ABF: Read across from AT&S: Upward revision on guidance due to better product mix

HK Banks Monthly: July 2026: Local HK banks led the outperformance on risk aversion

Hong Kong Insurance: Media reports of China offshore insurance tax, but no formal announcement

USD CNY fix model Projection: 6.7463

China Consumer Durables: Data update for select property value chain companies

China Equity Strategy: A-share Sentiment Rebounded as Risk Appetite Improved

China Solar: Solar glass px hike reinforces our thesis on sequential improvement post 2Q

Greater China Materials: China Steel and Iron Ore Weekly Update

Americas Clean Technology: Solar: Section 232 update-Executive Order imposes tariffs on polysilicon; Positive for FSLR

Asia Technology - Asia Pacific Memory - A Small Wrinkle

European Luxury Goods: Chase (ing) US consumer spending: Slower spend in July

China Healthcare: China Pharma Biotech 2Q26 Preview: Financials largely intact but policy impact remains to be seen

Korea Energy & Battery: 2026 tax reform plan formalizes AMPC for made-inKorea batteries, wind, AI robots and chips

China Equity Strategy: Share buybacks: From niche to mainstream

July revenue trending much better than our bullish estimate on high-end CCL players, with solid pricing uptrend; Buy EMC TUC with -100% upside

Americas Power & Energy Transition: Section 232 Tariffs - win for US Solar, proof will be in the exemptions.

Industrial electronics sector Overseas results: Sandisk 26 6 Q4 (Apr–Jun) results

Property Real Estate: Real Estate: The 1H26 Office & Retail Playbook: Retail Still Has the Bag

BIG OILS: 2Q26 wrap-up: Strong FCF and degearing in 2Q; screening for upside to cash returns with higher refining margin in 2H26