Broker Research: Sector, Macro and Strategy Notes

Nomura·2026-09-02Sector

BYD LI NIOXPEV.USChina autos·Underweight

BofA Securities·2026-09-02Sector

2319.HK600519.SHChina dairy·OverweightChina snack discounters·Overweight

J.P. Morgan·2026-09-02Thematic

China AI infrastructure·Overweight

HSBC·2026-09-02Macro

Global GDP growth: HSBC forecast2026Global GDP growth: HSBC forecast2027

Citi·2026-09-02Macro

LNG·Underweight

Barclays·2026-09-02Thematic

Grids and transmission·OverweightBattery storage·Overweight

Bernstein·2026-09-01Thematic

ASML.AS

Goldman Sachs·2026-09-01Macro

FGM.USUS auto SAAR: actualAug 2026

Morgan Stanley·2026-09-01Strategy

Asia financials (wholesale/wealth)·OverweightAustralian banks·Underweight

Goldman Sachs·2026-09-01Sector

AMAT LRCX ONTO TERUS semiconductor equipment·OverweightAI semiconductors·Overweight

Goldman Sachs·2026-09-01Strategy

IBKR.USUNH VRTXVertex Pharmaceuticals·Overweight

Goldman Sachs·2026-09-01Macro

Japan recurring profits (MOF): actualApr-Jun 2026Japan capex incl. software (MOF): actualApr-Jun 2026

J.P. Morgan·2026-09-01Sector

0823.HKLink REIT·OverweightHK landlords·Overweight

J.P. Morgan·2026-09-01Sector

ISAT.JKTLKM.JKIndosat·OverweightIndonesia data centers·OverweightIndonesia data center capacity: JPM forecastYE2027

J.P. Morgan·2026-09-01Strategy

EM inflation linkers·Overweight

Nomura·2026-09-01Macro

China SOE developers·OverweightChina top-100 developer contract sales: actualAug 2026

Goldman Sachs·2026-09-01Sector

0688.HK600048.SHChina property developers·Neutral

Nomura·2026-09-01Macro

USD/CNY fix model projection: Nomura model1 Sep 2026

BofA Securities·2026-09-01Sector

0268.HK1357.HK688111.SHGDS.USKC.USVNET.USChina software and cloud·Overweight

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

EV EQUITY-AUTOS & AUTO PARTS-Lacking positive signal-catalyst in Aug-26

China Consumer (H-A) Learnings from earnings-highlights vs. lowlights in 1H26

China AI Infra Ecosystem Unprecedented growth; lingering constraints

Global Economics Crosscurrents

Global Gas and Power Insights Asia competing against Europe for LNG- Fuel-switching boost to Indian LNG imports to fade

2026 Global Energy Transition Barometer-The Next Transition Trade

ASML High-NA EUV Primer - The shrinking never stops

US Autos & Industrial Tech August US auto SAAR was about 16.8

Virtual Financials Day 2026 – Financing the Investment Super- Cycle, Adopting AI

Americas Semiconductors What to Expect at Communacopia + Technology Conference

US Conviction List - Directors' Cut September 2026 Update

Japan: Apr-Jun MOF Corporate Statistics: Sharp Rise in Corporate Recurring Profits; Capex Also Increases Modestly

Hong Kong Commercial Property: Retail sales stayed at+5% Y Y in July

Indonesia Data Centers Data center build-out is accelerating; neocloud economics appear more favourable currently - ISAT our top pick

Global EM Inflation Linkers Monthly

Asia Chart Alert Economics-China-State-owned developers drove contract sales value in August

CHINA NEW ENERGY VEHICLE WEEKLY CHARTBOOK 2026 Week 35 - Weekly order -6% wow, NEV retail-wholesale penetration 64%-71% in Aug MTD

CHINA PROPERTY WEEKLY WRAP: Week 35 Wrap-Volume and sentiment mixed; new central-level policies launched

USD CNY fix model

Software - China (H-A) Mixed 2Q26-1H26 results; AI demand strong; resilient growth eases AI disruption concerns