Broker Research: Sector, Macro and Strategy Notes

J.P. Morgan·2026-10-13Sector

BAS.DEEVK.DESOLB.BRWCH.DE

J.P. Morgan·2026-10-13Sector

ANET CLS CSCO NVDA

J.P. Morgan·2026-10-13Sector

002202.SZ1798.HK2208.HK601615.SH603606.SH

J.P. Morgan·2026-10-13Strategy

603296.SHHuaqin Technology·Top pickChina high-dividend stocks·OverweightChina AI·Overweight

J.P. Morgan·2026-10-13Sector

GEELY BYD2238.HK2333.HK3808.HK600104.SH9863.HK9973.HK

J.P. Morgan·2026-10-13Strategy

J.P. Morgan·2026-10-12Sector

AMD AVGO KLAC MRVL MU NVDABroadcom·Top pickMarvell·Top pick

J.P. Morgan·2026-10-12Macro

J.P. Morgan·2026-10-12Sector

ADM.USBG.USDAR.US

J.P. Morgan·2026-10-12Sector

SKHYNIX2330.TW2360.TW3037.TW3711.TW5274.TWOADVANTEST7769.TWTOKYOELTSMC·Top pickASE Technology·Top pickUnimicron·Top pickASPEED·Top pickHon Precision·Top pickSK Hynix·Top pickChroma ATE·Top pickAdvantest·Top pickTokyo Electron·Top pick

J.P. Morgan·2026-10-12Sector

HLAG.DEMAERSKB.COZIM.US

J.P. Morgan·2026-10-12Sector

600150.SH603308.SHBS6.SIGuangdong Songfa·Top pick

J.P. Morgan·2026-10-12Sector

BHP.LFMG.AXKIO.JORIO.L

J.P. Morgan·2026-10-12Sector

1801.HK3692.HK3696.HK600276.SH6990.HKAKESOKelun Biotech·Top pickInnovent Biologics·Top pick

J.P. Morgan·2026-10-12Strategy

Quality/Growth (US)·Overweight

J.P. Morgan·2026-10-11Sector

1997.HK

J.P. Morgan·2026-10-11Sector

BYD3808.HK9973.HK

J.P. Morgan·2026-10-11Sector

2345.TW2382.TW3231.TW6669.TW

J.P. Morgan·2026-10-09Macro

CNY FX in GBI-EM·OverweightUSD/CNY: 6.60 at end-20262026-12

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

European Chemicals: Targeted protectionism emerging

Hardware & Networking: OCP Insights: Day 1 Highlights Increasing Complexity in Scaling AI Infrastructure

China Wind: Not All Wind Is Losing Speed; Value Emerges as Negatives Being Priced-In

China A-shares Equity Strategy: Onshore flows remain subdued,but AI still anchors the growth side of our barbell approach

China Auto Industry: Another hit to bottom line into 2027

ASEAN Thematic Strategy: Stability anchors for a fragmented global supply chain

Semiconductors Semi Cap Equipment: 3Q26 Sector Preview: Constructive Setup Intact as Supply Constraints, AI Momentum, and Cyclical Recovery Support Further Revisions Continued Equity Outperformance

Commodity Market Positioning & Flows: Energy rally lifts commodities OI

Agricultural Products: 3Q26 Preview — Robust Biofuels Environment But More Uneven Crushing Backdrop (At Least For Now)

Asian Semis August WSTS: Logic growth accelerates on AI compute momentum; memory maintains elevated pricing

Global Autos: European Union Curbing down Chinese Hybrid Imports

Container Shipping: Anchoring expectations into the 3Q26 print

China Shipbuilding: 3Q26 preview – A seasonal breather, a margin opportunity; buy on dips

China Steel-Channel checker: 10-day China steel output-2% vs previous but flat YoY;iron ore Miners drift to mark-to-market earnings downgrades

China Biotech & Pharma: Preview of ESMO: Catalysts for Kelun Biotech, Innovent, Akeso, Hengrui, Hansoh and Insilico

Global Factor Performance Summary: September 2026-AI Reassessment Meets Long-End Yields Surge

Mainland China HK Property: Top 3 Questions This Week – Feedback on Golden Week New Launches’ Pricing in HK Rally of Some Distressed Developers

China Auto Industry: EU policy move: A temporary ceasefire

Taiwan ODMs: Rising downside risk to server supply and PC demand into 4Q26

CNY FX: PBoC joins the debate around CNY valuation