Broker Research: Sector, Macro and Strategy Notes

J.P. Morgan·2026-09-08Thematic

ASEAN·Neutral

J.P. Morgan·2026-09-08Sector

China steel production: 1,000Mt2026China steel production: 990Mt2027China steel exports: 107Mt2026China steel exports: 104Mt2027

J.P. Morgan·2026-09-08Sector

0916.HK0968.HK300274.SZ3800.HK605117.SH6865.HKDQ.US

J.P. Morgan·2026-09-08Sector

082740.KS443060.KS

J.P. Morgan·2026-09-08Sector

0016.HK1109.HK1209.HKBEKE.USChina developers with recurring rental income·OverweightChina 9-city real-time secondary home sales: +22% Y/Y (prior +8%)week to early Sep-26China 12-city secondary home sales: +13% Y/Y (prior +3%)week to early Sep-26

J.P. Morgan·2026-09-08Strategy

US duration·NeutralUSD·OverweightEM credit·UnderweightUS real GDP growth: JPM forecast2026 (q4/q4)US core PCE inflation: JPM forecast2026 (q4/q4)

J.P. Morgan·2026-09-08Sector

600150.SH603268.SHYAZG.SIChina shipbuilding·OverweightYangzijiang Shipbuilding·OverweightChina CSSC Holdings·OverweightGuangdong Songfa·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

J.P. Morgan·2026-09-07Sector

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

J.P. Morgan·2026-09-07Macro

China FX reserves: actualAug 2026

J.P. Morgan·2026-09-07Macro

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

J.P. Morgan·2026-09-07Strategy

Global equities·OverweightEmerging markets·Overweight

J.P. Morgan·2026-09-07Sector

0966.HK1339.HK2628.HKChina insurers·Neutral

J.P. Morgan·2026-09-07Sector

China ESS integrators·Neutral

J.P. Morgan·2026-09-06Sector

0016.HK1209.HKBEKE.USChina Resources Mixc·OverweightKE Holdings·Overweight

J.P. Morgan·2026-09-06Sector

China healthcare·Overweight

J.P. Morgan·2026-09-05Strategy

J.P. Morgan·2026-09-05Sector

0005.HK2388.HK2888.HKStandard Chartered·OverweightHK banks·Overweight

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

ASEAN & China Consumer Decoding ASEAN expansion: How Chinese consumer brands can win beyond China

China Steel -Channel checker: 10-day China steel output -4% vs previous. China steel exports in August flat vs July. Bulk freight rates hit new 2026 highs

China Utilities & Renewables Blog: Solar glass polysilicon prices up, ESS momentum builds, policy tailwinds emerge for data-center renewables

Korea Shipbuilding & Repairs: Propelling beyond cycles; initiate on Hanwha Engine at OW; maintain OW on HD Hyundai Marine Solution

Property Data Monitor Mainland China: Real-time secondary sales improved; HK: SHKP won a land tender in Tuen Mun

Global Macro Outlook and Strategy: Global Rates, Commodities, Currencies and Emerging Markets

China Shipbuilding: Monthly snapshot (August 2026): Large containership demand returns

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

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

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

Asia Edge: Hot summer for prices

Equity Strategy: Regional calls: Non-US is ahead so far ytd;EM vs DM is working again

China Insurance: MoF capital support: sensible structure, less dilution risk

China ESS Integrators: Europe-led ESS installation growth through 2027; offset by some margin pressure on costs

Mainland China Hong Kong Property Top 3 Questions This Week

China Healthcare 1H26 Results Wrap: Innovators Led the Rally While Recovery Broadened, Stay Strong into 2H26

FX Derivatives: September heats up with Yen and US events

Technology – Consumer Electronics Industrial Electronics Precisions

HK Banks: 1H26 results ahead on better PPOP momentum