Broker Research: Sector, Macro and Strategy Notes

J.P. Morgan·2026-11-05Macro

J.P. Morgan·2026-11-05Credit

SKHYNIX0016.HK005490.KS051910.KSTENCENT BABABMRI.JKD05.SIChina National Chemical credit·OverweightAsian credit basis strategies·NeutralAsia ex-Japan single-name CDS daily volume: Observed turnover rose 52% year-on-year.1H26Asia share of global single-name CDS: Observed regional share after rapid turnover growth.1H26

J.P. Morgan·2026-11-05Sector

002821.SZ300759.SZ3759.HK6821.HK

J.P. Morgan·2026-11-04Strategy

AI infrastructure·OverweightInnovative healthcare·OverweightDefensive high yielders·Overweight

J.P. Morgan·2026-11-04Credit

AEP.USCEGNRG.USSEI.USTLN VSTBehind-the-meter and bridge power·UnderweightApproved data-center projects·OverweightRegulated utility credit·NeutralNewbuild power supply: Meaningful additions are not expected before the stated timeframe.2029

J.P. Morgan·2026-11-04Sector

SKHYNIX SMSN KIOXIA MU SNDKHBM ASP growth: Broker forecast2027E

J.P. Morgan·2026-11-03Sector

2318.HK2628.HKPing An H·Top pickChina Life H·Top pick

J.P. Morgan·2026-11-03Sector

Localized Thai EV producers·OverweightImport-dependent EV producers·UnderweightThai imported BEV excise tax: ReportedpolicychangeFromJan2027

J.P. Morgan·2026-11-03Sector

000625.SZ1958.HK200625.SZ2238.HK600104.SH601238.SHChery·Top pickSinotruk·Top pick

J.P. Morgan·2026-11-03Strategy

Onshore IT·OverweightBrokers·OverweightBuyback relending rate: Permanent facility rate reductionNov-2026

J.P. Morgan·2026-11-03Credit

EL.US

J.P. Morgan·2026-11-03Sector

300760.SZ300832.SZ688271.SHMindray·Top pick

J.P. Morgan·2026-11-02Macro

J.P. Morgan·2026-11-02Strategy

DD.USITW.USMETA PLTR TT

J.P. Morgan·2026-11-02Sector

CR Land·Top pickCR Mixc·Top pickKE Holdings·Top pickTop100developercontractedsales: Full-yearforecastFY26E

J.P. Morgan·2026-11-02Strategy

XLP·UnderweightFSLR.US·OverweightS&P 500: targetYE26

J.P. Morgan·2026-10-31Sector

0939.HK1288.HK1398.HK1658.HK3988.HKICBC·Top pickPostal Savings Bank of China·Neutral

J.P. Morgan·2026-10-30Thematic

7203.TBMW.DEMBG.DESHA0.DETSLA

J.P. Morgan·2026-10-30Macro

Agricultural commodities·NeutralBCOM Agri index YTD performance: pared back from peak2026 YTD

J.P. Morgan·2026-10-30Macro

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

US–China-Stability on harder terms

Asia CDS: Beyond Cash Bonds

China CDMO Entering a New Phase of Development; Initiate on Pharmaron-A-H at N-OW, Asymchem-A-H at N-OW

China A-shares Equity Strategy: Bottom-fish innovation-led AI and Healthcare

AI Capex Data Centers: Early Thoughts On Blue Wave Implications On DC & Power Funding

Memory Market Update: 3Q26 results wrap and 4Q26 2027 outlook; our thoughts on memory share prices

China Insurance 3Q26 league tables: Resilient solvency amid earnings volatility and lower interest-rate risk

China Auto Industry: Thailand to impose tariff on China’s EVs - implications?

China Auto Industry: 3Q26 misses expose structural pressure; cutting SOE estimates further

China Equity Strategy PBoC and CSRC steps: not a bazooka, but a firmer floor

The Estee Lauder Cos (EL.US) 1Q27 Fresh Top Notes, Lingering Base Notes -Upgrading to Neutral

China Medtech: Three tailwinds are lining up; is a rotation into medtech in place?

China's RatingDog PMI: Output up, prices down

Portfolio Managers’ Monthly U.S. Equity Thematic Research

China Property: Developers’ sales remain sluggish despite mortgage subsidy

US Equity Derivatives Strategy Trading Macro Crosscurrents; Dec. Tech Rebalances, Systematic Flows, and Earnings Vol

China SOE banks 3Q26 wrap: Solid beat, resilient 4Q outlook; PSBC lags

Global Humanoid : Physical AI update on the automotive sector

Agricultural Markets Weekly: Agri price risk premiums have eroded, but supply is not out of the woods yet

Global Commodities: The Week in Commodities