Broker Research: Sector, Macro and Strategy Notes

Goldman Sachs·2026-09-07Thematic

Agricultural commodities·Overweight

J.P. Morgan·2026-09-07Thematic

REL.LSPG.DEWKL.ASRELX·Overweight

J.P. Morgan·2026-09-07Sector

6881.HKChina Galaxy Securities·OverweightChina brokers·Overweight

Morgan Stanley·2026-09-07Sector

AKE.PABAS.DECRDA.LEVK.DEGIVN.SEuropean chemicals·Neutral

Goldman Sachs·2026-09-07Sector

Optical transceivers·Overweight

Nomura·2026-09-07Sector

002281.SZ5803.TYOFCOptical communications·Overweight

Goldman Sachs·2026-09-07Macro

China augmented fiscal deficit: GS forecast2026

J.P. Morgan·2026-09-07Sector

0003.HK0135.HK1193.HK2688.HKENN Energy·OverweightHong Kong & China Gas·OverweightKunlun Energy·OverweightChina Resources Gas·Neutral

Barclays·2026-09-07Sector

1913.HKMC.PARMS.PAEuropean luxury·Neutral

Deutsche Bank·2026-09-07Strategy

Global duration·Underweight

Goldman Sachs·2026-09-07Sector

Goldman Sachs·2026-09-07Macro

Crude oil·OverweightBrent crude: GS forecastDec 2026WTI crude: GS forecastDec 2026

Goldman Sachs·2026-09-07Sector

0966.HK1339.HK2628.HKPICC Group·Overweight

Deutsche Bank·2026-09-07Strategy

US Treasuries·UnderweightUS 10-year Treasury yield: DB trade targetSep 2026 outlook

Goldman Sachs·2026-09-07Sector

1548.HK2268.HK3759.HKChina CRO/CDMO·OverweightWuXi XDC·Overweight

Goldman Sachs·2026-09-07Sector

0322.HKChina consumer staples·NeutralTingyi·Overweight

J.P. Morgan·2026-09-07Macro

China FX reserves: actualAug 2026

Bernstein·2026-09-07Strategy

Korea equities·UnderweightTaiwan equities·UnderweightIndia equities·OverweightChina equities·Overweight

Morgan Stanley·2026-09-07Sector

Greater China materials·Overweight

J.P. Morgan·2026-09-07Macro

Vietnam GDP growth: JPM forecast2026Sri Lanka CPI inflation: JPM forecastend-2026

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

AGRICULTURE ANALYST: Higher Barriers to Trade, Lower Barriers to Shocks: Hormuz, Black Sea and a Super El Ni-o

The evolution of scientific research: Intelligence increases the value of verification & the scientific record, and expands the addressable market

China Securities Monthly bulletin: Retail activity softens; institutional business remains resilient

Chemicals-The C-Hain 24: China returns to net import position. EVK spread dips materially.

Global Optical transceivers_ Raising 1.6T and above shipment by 29% _ 61% _ 50% for 2026-28E; continuous mix upgrade ahead

Global AI Trend Tracker: CIOE 2026 Preview

ASIA IN FOCUS: China: Property Downturn Keeps Straining Local Government Finances

China Gas Utilities: Key takeaways from 1H26 NDR meetings – Dividend policy is the key share driver

European Luxury Goods & Specialty Retail: Postcard from China: : Summer slowdown

Thematic Research: What are the biggest market dislocations?September 2026

China and Japan Machinery Export Tracker: Jul 2026 update: Continued softness in DMs; broad-based moderation in EMs

Ongoing Disruptions, More Adaptation: Nudging Up Our Price Forecast

China Insurance: Implications of announced capital supports for insurance industry

Rates Outlook

CHINA CRO & CDMO 2Q 1H26 Wrap up: From earnings recovery to growth durability; improving innovation activity supports the next leg of the cycle

CHINA CONSUMER STAPLES Aug check in ALC wrap Cautious outlook for 3Q

China: Upbeat FX reserves signal export resilience: Global imbalances debate and CNY valuation

Asia Quant Strategy: Rising bond yields-Is the risk really priced in?

China Materials: China Trip Takeaways – Day 1

Asia Edge: Hot summer for prices