Broker Research: Sector, Macro and Strategy Notes

Goldman Sachs·2026-08-18Sector

China factory automation·Overweight

Goldman Sachs·2026-08-18Thematic

SPCXSpace economy·Overweight

J.P. Morgan·2026-08-18Sector

KUAISHOUBEKE.USBILIBZ.USJOYY.USNTESChina internet·Overweight

BofA Securities·2026-08-18Macro

CNY·OverweightIDR·UnderweightPHP·Underweight

Morgan Stanley·2026-08-18Sector

1109.HK601155.SHChina property·Underweight

Deutsche Bank·2026-08-18Macro

China rates·Neutral

Goldman Sachs·2026-08-18Macro

CNY·Neutral

UBS·2026-08-18Strategy

US equities·Overweight

Morgan Stanley·2026-08-18Sector

AMZN APP BKNG GOOGL META UBERUS internet·Overweight

J.P. Morgan·2026-08-18Sector

1378.HK2600.HKZIJINMININGChina materials·OverweightSteel·Underweight

Goldman Sachs·2026-08-18Sector

001979.SZ0817.HK1109.HKChina property·Neutral

Deutsche Bank·2026-08-18Sector

GEELY BYD XIAOMI2015.HK9863.HK9866.HK9868.HKTSLAChina NEVs·Neutral

Bernstein·2026-08-18Sector

US healthcare services·Neutral

Citi·2026-08-18Sector

China property·UnderweightBase metals·Neutral

Citi·2026-08-18Sector

ABNB AMZN BKNG CVNA DASH GOOGL META RDDTUS internet·Overweight

Goldman Sachs·2026-08-18Sector

EXC.USFE.USUS power utilities·Neutral

UBS·2026-08-18Sector

ET.USKMI.USKNTK.USUS midstream·Overweight

J.P. Morgan·2026-08-18Sector

China brokers·Overweight

Morgan Stanley·2026-08-18Sector

002594.SZGEELY BYD9863.HKChina autos·Neutral

J.P. Morgan·2026-08-18Sector

China property·Neutral

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

China Industrial Indicators: July industrial indicators softened, sector divergence remains

The Second Space Age: How Markets, Technology, and Power Are Reshaping the Final Frontier

China Internet: Digital entertainment and online verticals 2Q26 preview

The EM Asia FX Strategist: Asia FX Monthly – CNY leads as summer carries on

China Property Monthly Tracker: July Data Continued to Weaken

Asia Thematic Strategy Notes: China: Modernizing the monetary policy framework

China: SAFE data suggest modest FX inflows in July

US Equity Strategy: Cash flow surge supports upside, Q2 EPS takes

Internet: Where Are We Trading Now: AI ROIC Debate Remains Front and Center

China Basic Materials: July 26 NBS data: Weak domestic and K-shaped economy to diverge metal prices

CHINA PROPERTY WEEKLY WRAP: Week 33 Wrap-Transaction volume recovered at margin while leading indicators mixed

Autos & Auto Technology: China NEV demand leading indicator (weekly new orders)-August 2nd week

U.S. Healthcare Services U.S. HC Svcs: PBM Model in Transition-A summary of our expert call on current PBM market conditions

Global Metals & Mining: China property metrics decline continues in July; incremental declines less material to metal demand

North America Internet Internet Traffic Trends Analysis: Positive Traffic & Engagement Trends for GOOGL, META, DASH, CVNA, & ABNB

AMERICAS UTILITIES: POWER: PA follows Texas in tightening Data Center rules, focused on local community approvals

Midstream & Natural Gas: Permian Infra growth was the focus of This Earnings Season

China Securities: Retail normalizing, institutional accelerating, tech upcycle favor leading brokers

China Autos & Shared Mobility: China EV Weekly Orders -Bifurcation holds; mass firms up, premium majors cool after launch spike

China Property NBS July data: Still tepid, but tier-1 cities’ home prices stayed resilient