Broker Research: Sector, Macro and Strategy Notes

J.P. Morgan·2026-10-19Sector

1109.HK1209.HKBEKE.USChina Resources Land·OverweightChina Resources Mixc Lifestyle·OverweightKE Holdings·OverweightChina distressed developers·AvoidChina primary residential sales value: -12% Y/Y2026

Morgan Stanley·2026-10-19Sector

007660.KS2317.TW3017.TW6669.TW6805.TWMSFT

J.P. Morgan·2026-10-19Sector

000333.SZ000651.SZ600690.SH6690.HKMidea Group·Top pick

Goldman Sachs·2026-10-19Strategy

Goldman Sachs·2026-10-19Thematic

002475.SZ2317.TW2330.TWAAPL

Goldman Sachs·2026-10-19Macro

TTF Dec-26 contract: EUR 88/MWh2026-12TTF Mideast supply risk premium: EUR 18/MWh2026-10

Goldman Sachs·2026-10-19Sector

CS.TOERO.TOFM.TOHBM.USHudbay Minerals·Top pickCopper equities·Overweight

UBS·2026-10-19Sector

0220.HK0322.HK1579.HK1768.HK300972.SZ3288.HK603288.SH

Bernstein·2026-10-19Sector

CARRFERG.USTT

Bernstein·2026-10-19Sector

EL.USHEN3.DEMC.PAOR.PAPGULVR.L

Goldman Sachs·2026-10-19Macro

Goldman Sachs·2026-10-19Strategy

Global Quality·Overweight

Nomura·2026-10-19Sector

TENCENT MEITUAN BABA

Nomura·2026-10-19Sector

BABA BIDU

Morgan Stanley·2026-10-19Strategy

Quality factor·Overweight

Goldman Sachs·2026-10-19Sector

Goldman Sachs·2026-10-19Macro

Bernstein·2026-10-19Sector

AMT.USCCI.USSBAC.USSPCXAmerican Tower·Top pick

Goldman Sachs·2026-10-19Sector

GMD.AXIGO.AXMIN.AXNEM.AXPDN.AXPLS.AX

Goldman Sachs·2026-10-19Macro

China real GDP: +4.5% y/y in 3Q262026-Q3China real GDP growth forecast: 4.6% for 20262026

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

China Property : NBS September data: Sales and construction remain soft; home price declines mildly narrow (T1 cities holding up)

Greater China Technology Hardware 2026 OCP Global Summit – MGX Upgrades Take Shape Maia 300 on Display

China Home Appliance: Paid to wait,but the wait just got longer;downgrade Haier A H to Neutral

GOAL KICKSTART: AI concerns weigh further on risk appetite

GC Tech: iPhone Duo foldable phones see strong pre-orders; New form factor Premium models attract consumption

Natural Gas Comment: Europe Winter Tracker: LNG Supply Uncertainty Supporting TTF Risk Premium

Americas Mining Copper Scarcity Premium: An Investment Framework for Copper Projects

China Consumer Sector: Staples food monthly,what does September's data tell us?

U.S. Multi Industry & Electrical Equipment: US Resi HVAC tracker (October): Signals and sentiment remain weak; no line of sight to recovery

Global Beauty: China Online Beauty: Broad-based weakness persists in September

EM MACRO THEMES: Swan Dive-The Search for Internal and External Balance

GLOBAL WEEKLY KICKSTART: Quality Regains Ground, Momentum Faces Headwinds

China e-commerce: China e-commerce market stagnant in September

China Internet&New Media: Takeaways from DeepSeek expert call

US Equity Strategy - North America Weekly Warm-up-Quality Breaks Out; What's Next-

China Healthcare: New export rules restrict ownership transfer of CGT siRNA platforms; out-licensing and CRO CDMO remain supported

European Economics Analyst: Measuring Euro Area Fragmentation Risk

US Communications Infrastructure: Towers,Revisiting rates, SpaceX optionality, and valuation ahead of 3Q26

Australian Gold, Lithium & Uranium Coverage

China: Q3 GDP slightly beat expectations on broad-based improvement in September activity