Broker Research: Sector, Macro and Strategy Notes

J.P. Morgan·2026-08-20Sector

Global elevators·Overweight

J.P. Morgan·2026-08-20Credit

J.P. Morgan·2026-08-20Strategy

0388.HK0669.HK0823.HK1972.HK2388.HKHong Kong Financials·OverweightHong Kong Real Estate·OverweightHong Kong Consumer Discretionary·Underweight

J.P. Morgan·2026-08-20Sector

CFR.SWUHR.SWSwiss watch exports: upJul-2026

J.P. Morgan·2026-08-20Thematic

APPF.US

J.P. Morgan·2026-08-20Sector

ALBSQM.USLithium hydroxide export price: upJul-2026

J.P. Morgan·2026-08-20Sector

0688.HK0817.HK1109.HKChina tier-1 SOE developers·Overweight

J.P. Morgan·2026-08-20Sector

MRNAChina biotech/CXO·Overweight

J.P. Morgan·2026-08-19Sector

002594.SZ300750.SZESS batteries·Overweight

J.P. Morgan·2026-08-19Macro

China·Underweight

J.P. Morgan·2026-08-19Sector

China property developers·NeutralChina property management·Overweight

J.P. Morgan·2026-08-19Thematic

UNITREEHumanoid robots·Overweight

J.P. Morgan·2026-08-19Sector

IFX.DENXPI.USONSTM.PAAnalog semis·Overweight

J.P. Morgan·2026-08-18Sector

SMIC HHGRACEChina OSAT·Overweight

J.P. Morgan·2026-08-18Sector

9618.HKBABA PDDChina e-commerce·Overweight

J.P. Morgan·2026-08-18Sector

KUAISHOUBEKE.USBILIBZ.USJOYY.USNTESChina internet·Overweight

J.P. Morgan·2026-08-18Sector

1378.HK2600.HKZIJINMININGChina materials·OverweightSteel·Underweight

J.P. Morgan·2026-08-18Sector

China brokers·Overweight

J.P. Morgan·2026-08-18Sector

China property·Neutral

J.P. Morgan·2026-08-18Sector

4062.T6963.T6981.TJapan electronic components·Overweight

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

Global Elevators: Quiet financial markets offer a chance to revisit an overlooked end market-elevators

CNH Credit Markets: A dim sum menu

Hong Kong Equity Strategy: Accumulating Through the Policy Noise

European Luxury Goods Swiss watch exports: Resilient trend led by the US while Asia decelerated

AI Entrant Spotlight - Proliferate or Participate?

Lithium: July China Export Import Data

China Property: Shanghai’s well-anticipated policy support arrives; Shenzhen likely next

China Healthcare: Positive read-through to China biotech pharma CXO from Moderna’s mRNA vaccine Ph3 success

ESS Battery: July shipments accelerated the growth

China alt-data trackers chartpack (Series 61) Typhoon disruption, little fiscal catch-up, HPF revision

China Property: HPF easing: not a boost to home sales, but perhaps a marginal lift for property managers rentals consumption

Humanoid Robot: Physical AI’s public debut: Sector rotation, policy support, and the new valuation anchors

Electronic Components Sector: 2Q 2026 analog and discrete semiconductor

China Semiconductor OSAT sector: positive read-through from 2Q26 foundry earnings

China Ecommerce Jul-26 online sales: Online retail sales hold recovery, while headline retail softens

China Internet: Digital entertainment and online verticals 2Q26 preview

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

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

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

Electronic Components Sector Component Data Deposition METI