Broker Research: Sector, Macro and Strategy Notes

Nomura·2026-10-19Sector

SKHYNIX SMSN MUMemory·Overweight

Nomura·2026-10-19Macro

USD/CNY fix projection: 6.69072026-10-19

Nomura·2026-10-19Strategy

ALKEM.NSDRRD.NSSUNPHARMA.NSIndia financials·OverweightIndia IT services·OverweightIndia consumption·UnderweightIndia commodities·NeutralNifty index target: 24,000 by March 20272027-03

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

Nomura·2026-10-18Sector

TENCENT BABA

Nomura·2026-10-18Sector

1801.HK2359.HK

Nomura·2026-10-16Macro

USD/CNY fix model projection: 6.69672026-10-16

Nomura·2026-10-15Strategy

Sep-1y HK IRS target: 3.80%2027-09

Nomura·2026-10-15Macro

RBI net FX reserve sales: USD1.6bn in September2026-09PBoC net FX reserve sales: USD15.4bn in September2026-09

Nomura·2026-10-15Sector

4062.T

Nomura·2026-10-14Sector

000425.SZ600031.SH601100.SH

Nomura·2026-10-14Sector

CXMT SKHYNIX SMSN

Nomura·2026-10-14Sector

000333.SZANTA9987.HKANTA Sports·Top pick

Nomura·2026-10-14Sector

Nomura·2026-10-14Macro

China PPI inflation: 4.8% y-o-y in October2026-10

Nomura·2026-10-14Macro

Nomura·2026-10-14Sector

3037.TWATS.VI

Nomura·2026-10-14Macro

China outstanding aggregate financing growth: 7.1% YoY in September2026-09China outstanding RMB loan growth: 4.8% YoY in September2026-09

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

China Internet&New Media: Takeaways from DeepSeek expert call

Global Memory: AI market concerns and the memory outlook

USD CNY fix model

Equity Strategy: Asia marketing feedback

China: A moderate rebound in GDP growth

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

China healthcare: EQUITY: HEALTH CARE & PHARMACEUTICALS

USD CNY fix model

Strategy Trade: -HOT Hong Kong rates: Raise receive to maximum conviction level

USD CNY fix model: Projection: 6.698

Asia Insights: Many AeJ central banks sold USD in September

Semiconductor packaging industry update: Packaging substrate shipments up 52% y-y

China Construction Machinery: Earthmoving Machinery Monthly Data Tracker

Asia Semi and Technology: Implications of CXMT’s recent progress on 4F2

China consumer: Mass-market mall saw temporary performance recovery in Sep

China Auto EV: Weak Sep-26; EU hybrid cap and lower exports VAT rebate

Asia Insights: China: PPI inflation hits fresh high on resurging energy prices

Asia Insights: China rates: Looser liquidity collides with increased bond supply

Global PCB Substrate: Takeaways from group conference call

Asia Insights: China: Credit growth sinks to a new record low in September as private demand stays weak