Broker Research: Sector, Macro and Strategy Notes

Bernstein·2026-08-26Sector

3563.T7453.T7936.T9983.TJapan retail·Neutral

Morgan Stanley·2026-08-26Strategy

Hong Kong equities·NeutralHang Seng Index: MS targetJun-2027

Goldman Sachs·2026-08-26Sector

AZN.LBAYN.DENOVN.SWEurope pharma·OverweightNovartis·Avoid

J.P. Morgan·2026-08-26Thematic

1276.HK1548.HK2269.HK2359.HKAKESOmRNA cancer vaccines·Overweight

Morgan Stanley·2026-08-26Strategy

MSCI China·NeutralChina healthcare·Overweight

J.P. Morgan·2026-08-26Strategy

Asian low-yielder FX·Neutral

HSBC·2026-08-26Macro

China·Neutral

Nomura·2026-08-26Macro

CNY·OverweightUSD/CNY fix: Nomura model projection26 Aug 2026

Deutsche Bank·2026-08-26Sector

BYIT.LCER.LSCT.LUK software & IT services·Neutral

J.P. Morgan·2026-08-26Thematic

AI infrastructure·Overweight

Bernstein·2026-08-26Sector

CCLNCLH.USRCL.USVIK.USRoyal Caribbean·Top pickCarnival·Underweight

Bernstein·2026-08-25Thematic

Humanoid robotics·Overweight

Morgan Stanley·2026-08-25Sector

7203.T7267.TJapan autos·Neutral

UBS·2026-08-25Sector

000951.SZ0631.HK1766.HK300274.SZ3808.HK600031.SH600150.SHChina industrials·Neutral

Goldman Sachs·2026-08-25Macro

Deutsche Bank·2026-08-25Macro

Morgan Stanley·2026-08-25Sector

AMZN GOOGL METAUS internet·Overweight

Deutsche Bank·2026-08-25Sector

China NEV·Neutral

J.P. Morgan·2026-08-25Sector

Hong Kong property·Neutral

Deutsche Bank·2026-08-25Macro

GBP·Neutral

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

Japan Consumer Japan retail: The Good, the Bad and the Yen — Stress-Testing UNIQLO, ASICS, Sushiro and MUJI for a Yen Reversal

China Equity Strategy: Hong Kong Takes a Backseat, for Now

EUROPE HEALTHCARE Sector check in: monitoring sector valuation, earnings execution and innovation momentum post 2Q26 reporting season

mRNA Cancer Vaccine: Assessing Opportunities Across China’s Healthcare Value Chain

2Q26 Earnings Interim Review: MSCI China Broadly In Line, While A-share Breadth Remains Softer

Asia FX: To revalue or recycle FX policy implications of the AI boom

China Macro Tracker: No bazooka: fine-tune and add-ons

USD CNY fix model: Projection: 6.7152

UK Software and IT services: Scores on the Doors: Weighing up H2 risks

Hardware & Networking Data Center Watch: Token Spend Climbs, GPU Pricing Mixed, & Memory Prices March Higher

Global Hotels & Leisure Cruise: 2027 itinerary outlook-the end of Caribbean oversupply

Global Automation Humanoid robotics: The road to real-world adoption-the market size and ROI of four key applications

Autos & Shared Mobility: Reports that US May Raise Import Tariffs on Canada-made Vehicles from 25% to 50%

China Industrials Industrial insights (Aug): Mixed picture

Global Markets Daily: Tracking Shifts in the Market’s AI Views

FX Blog: What is driving high-frequency FX?

Internet: Where Are We Trading Now: Wrapping a Volatile Summer

China NEV Weekly New Orders Monitor: China NEV demand leading indicator (weekly new orders) -August 3rd week

Hong Kong Property: FAQs on NDRC’s Measures on Outbound Investment

FX Special Report: Where are the AI tails widest?