Broker Research: Sector, Macro and Strategy Notes

Goldman Sachs·2026-10-19Sector

1882.HK300124.SZ600845.SH

Nomura·2026-10-19Macro

China real GDP growth: 4.7% in 20262026China real GDP growth: 4.0% in 20272027China real GDP growth: 4.8% y/y in 4Q262026-Q4

Goldman Sachs·2026-10-19Macro

Central bank gold purchases: 79 tonnes in August2026-08

J.P. Morgan·2026-10-19Sector

3908.HK600999.SHCICC·Top pickChina Merchants Securities·Top pick

Goldman Sachs·2026-10-19Macro

Bernstein·2026-10-19Sector

J.P. Morgan·2026-10-19Macro

New home prices vs 2021 peak: -14.3%2026-09Secondary home prices vs 2021 peak: -23.5%2026-09

Goldman Sachs·2026-10-19Sector

001979.SZ0688.HK0817.HK1109.HK3900.HK

J.P. Morgan·2026-10-19Strategy

Commodity open interest value: $2.06 trillionweek to 16 Oct 2026

Goldman Sachs·2026-10-19Macro

LME copper price: USD 14,700/t end-20262026-12LME copper price: USD 15,400/t 2027 average2027

Goldman Sachs·2026-10-19Sector

2308.TW2317.TW2330.TW300308.SZ600183.SH992.HK

Morgan Stanley·2026-10-18Sector

3529.TWO5274.TWMRVL TELGreater China Semiconductors·Overweight

Goldman Sachs·2026-10-18Macro

China exports: +36.3% y/y in September2026-09China PPI inflation: 2.8% in 20262026China PPI inflation: 0.3% in 20272027China CPI inflation: 0.8% in 20262026China CPI inflation: 0.6% in 20272027

Morgan Stanley·2026-10-18Sector

Nomura·2026-10-18Sector

TENCENT BABA

J.P. Morgan·2026-10-18Sector

BYD2238.HK601238.SH

Goldman Sachs·2026-10-18Sector

2059.TW3008.TW3017.TW3324.TW

Goldman Sachs·2026-10-18Sector

KIOXIA6146.T6361.TLASERTEC7741.TTOKYOEL

Goldman Sachs·2026-10-18Sector

4062.T6723.T6762.T6963.T6976.T6981.T6996.T

Nomura·2026-10-18Sector

1801.HK2359.HK

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

CHINA INDUSTRIAL INDICATORS: Stable trend in Sept with strength in semi ESS while weakness in consumer verticals

China: A moderate rebound in GDP growth

Precious Comment: Central Bank Gold Purchasing Trend Remains Strong Through August

China Securities : 3Q26 preview: Weak Market Backdrop, but CICC and CMS Poised to Outperform

Global: GS Economic Indicators Update: Australia FCI Tightens the Most Among Major Economies Over the Past Year

Global Energy Storage: Battery Weekly 19 October

China: Housing stays weak as time-inconsistency lingers,Mortgage subsidies offer limited lift

China Property Monthly Tracker: Sep ASP inspiring and aggregate sales resilient; yet primary sales and completion miss

Commodity Market Positioning & Flows : Commodities OI nears record highs as energy rally extends

BASE METALS ANALYST Copper: Raising Our Price Forecast on US-China Competition

GC Tech: Outlining growth potential and opportunities by sub-sector

Greater China Semiconductors OCP Wrap-up Rising Optics and Al Infrastructure Alternatives

China: Three things in China

China AI Foundation Models Our Read on Proposed AI Export Restrictions

China Internet & New Media: China proposes oversight of AI technology exports

China Auto Industry: EU policy move part 2: Annual volume cap on Chinese HEV PHEV

Global Server: Raising both AI and General servers; better mix and higher memory costs drive CSP spending

Japan Technology: Semiconductors: Sector view update: Demand remains strong despite concerns over sustainability of AI investment;reiterate Buy on six stocks

JAPAN ELECTRONIC COMPONENTS SEMICONDUCTORS Revisiting investment ratings: maintain Buy on Murata TDK Taiyo Yuden Renesas Rohm Ibiden. Nichicon to Buy from Neutral

China healthcare: EQUITY: HEALTH CARE & PHARMACEUTICALS