Broker Research: Sector, Macro and Strategy Notes

J.P. Morgan·2026-08-17Strategy

US Treasuries·NeutralUSD·Overweight

J.P. Morgan·2026-08-17Sector

KIOXIA5016.TAMAT COHR KLAC LITE LRCX SNDKJapan semiconductor materials·Overweight

J.P. Morgan·2026-08-17Macro

China property·Underweight

J.P. Morgan·2026-08-17Sector

China consumer·Neutral

J.P. Morgan·2026-08-17Macro

China·Underweight

J.P. Morgan·2026-08-17Sector

2252.HK2675.HKISRGChina surgical robotics·Overweight

J.P. Morgan·2026-08-17Sector

2301.TW2308.TWAI server power·Overweight

J.P. Morgan·2026-08-17Sector

BHP.AXRIO.AXIron ore·Underweight

J.P. Morgan·2026-08-16Sector

601939.SH601988.SHChina SOE banks·OverweightChina joint-stock banks·Underweight

J.P. Morgan·2026-08-16Sector

China AI models·Overweight

J.P. Morgan·2026-08-15Sector

0688.HK1109.HK2007.HKChina property developers·Underweight

J.P. Morgan·2026-08-15Macro

China·UnderweightASEAN·Overweight

J.P. Morgan·2026-08-15Strategy

ADVANTESTJapan equities·OverweightJapan AI infrastructure·Overweight

J.P. Morgan·2026-08-15Thematic

UNITREEChina humanoid robotics·Overweight

J.P. Morgan·2026-08-15Sector

4151.T4503.T4506.T4507.T4519.T4568.TJapan pharma·Overweight

J.P. Morgan·2026-08-14Sector

MINIMAX TENCENT ZHIPU MEITUAN9618.HKBABA BIDU PDDTME.USChina internet·Neutral

J.P. Morgan·2026-08-14Macro

China rates·Overweight

J.P. Morgan·2026-08-14Sector

0939.HK1398.HKChina Big 4 banks·Overweight

J.P. Morgan·2026-08-14Sector

7011.TAR.USCATENR.DEEQTEXE.USGEVGPOR.USRRC.USUS natural gas producers·Overweight

J.P. Morgan·2026-08-14Strategy

2318.HK9888.HKHK equity volatility·Overweight

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

Global Macro Outlook and Strategy: Global Rates, Commodities, Currencies and Emerging Markets

Semiconductor Tech Materials: Apr-Jun overseas results: Upward revisions of demand outlook; prices trending upward for SPE and materials

China: Housing activity index trended lower further,Beijing kicked off mild policy easing again

China Consumer: Rain check on retail: China consumption cools again

China: July domestic weakness triggers 2H growth revision,Fiscal spillover will also affect early 2027

China Surgical Robotics: Expert Call Takeaways: Europe's Opportunity and the Road to Gain Share

Power industry: Read-through from Lite-On NDR meeting

China Steel-Channel checker: 10-day China steel output+6% vs previous, flat YoY;FOB iron ore price lower as freight rate picks up

China banks: Reality check on PBOC & NFRA 2Q26 data: positive read-across to SOE banks while JSBs lag

China Artificial Intelligence: GLM-5.3 and DeepSeek's repricing shift the capabilitycost frontier; raise Zhipu MiniMax PT, remain OW Neutral

China Property: 1H26 results preview: The air pocket hasn't passed

Global Data Watch: Asia China's anticipated 2H recovery faces its first test

Japan Equity Strategy: Apr- Jun earnings wrap: Earnings beat across wide range of sectors, raising TOPIX year-end target to 4,600

China Thematic Research: Spotlight on Physical AI

Pharmaceutical Sector Weekly: August 10-14: Opportunity for sector re-rating

China Internet Singapore Marketing Takeaways: Selective Rotation, Proof Still Needed

China: Record loan contraction, limited govt bond pickup: 2Q Monetary Policy Report leaned a bit more dovish

China banks July credit data mixed: TSF beat masks weak loans and pricing pressure

JPM Natural Gas and NGL Reservoir: Global Gas Turbine Orders Surge to a Quarterly Record in 2Q26

Asia Pacific Equity Derivatives Strategy: Earnings delivery in focus amid diverging earnings volatility; derivative trades for Baidu’s AI monetization and Ping An’s dividend upside