Broker Research: Sector, Macro and Strategy Notes

Morgan Stanley·2026-11-06Strategy

High-quality balance sheets and free cash flow·OverweightLiquidity-sensitive speculative exposure·UnderweightS&P 500 target: Year-end target retained2026 year-end

BofA Securities·2026-11-05Strategy

Gold·OverweightRisk assets·UnderweightBofA Bull & Bear indicator: Observed positioning gauge rises.2026-11Weekly cash flows: Observed inflow.Latest weekWeekly global equity flows: Observed inflow.Latest week

J.P. Morgan·2026-11-05Strategy

000333.SZ0857.HK0939.HK1816.HKZIJINMINING600406.SH603268.SH688200.SH6990.HK9988.HKA-shares over H-shares·OverweightChinese equity rebound potential: Further upside as valuations recover from trough levelsNear termState-backed A-share ETF purchases: Accelerated in OctoberOct 2026Potential state fund "dry powder": Remaining capacity after 2H26 inflows offset 35% of 1H26 outflows2H26

J.P. Morgan·2026-11-04Strategy

AI infrastructure·OverweightInnovative healthcare·OverweightDefensive high yielders·Overweight

Nomura·2026-11-04Strategy

Quality central SOE dividends·OverweightTechnology hardware·Overweight

BofA Securities·2026-11-04Strategy

Share of CSI 800 constituents above 200-day moving average: Fell near historical troughs, below the September 2024 pre-pivot level2026-10-30A-share corporate buybacks: Highest monthly total since March 2024Oct 2026Southbound net flows: Largest monthly net outflow in more than five yearsOct 2026

Morgan Stanley·2026-11-04Strategy

002475.SZ1801.HKZIJINMINING300274.SZ300308.SZ301511.SZ600176.SHGIGADEV688041.SH688256.SHA-share sentiment indicator: Below technical rebound threshold, historically followed by a rebound within 1-2 monthsCurrent

J.P. Morgan·2026-11-03Strategy

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

Nomura·2026-11-03Strategy

HKIRS H27-1y: Receiver targetend-Nov2026

HSBC·2026-11-03Strategy

China equities·OverweightBuyback relending rate: Policy rate cited

Nomura·2026-11-03Strategy

USD/CNH: Short-trade targetend2026

Morgan Stanley·2026-11-02Strategy

000001.SZ300750.SZ300760.SZ600019.SH600741.SH601318.SH601838.SHHigh-yield OW CSI300 buyback candidates·Overweight

Morgan Stanley·2026-11-02Strategy

Quality·OverweightS&P 500: targetYE26

J.P. Morgan·2026-11-02Strategy

DD.USITW.USMETA PLTR TT

Morgan Stanley·2026-11-02Strategy

Global equities·OverweightCore fixed income·UnderweightUS equities·Top pickS&P 500: target2Q27US HY credit spread: forecast2Q27

J.P. Morgan·2026-11-02Strategy

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

Goldman Sachs·2026-10-30Strategy

Equities·OverweightWorld real GDP growth: 2.7%2026E

Bernstein·2026-10-29Strategy

Korea·OverweightTaiwan·UnderweightChina value and selective growth·Overweight

BofA Securities·2026-10-29Strategy

AI Compute·OverweightPhotonics·OverweightData Centers·OverweightGlobal EPS growth: forecast2026Global EPS growth: forecast2027

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

US Equity Strategy November 6, 2026 Strategy Data Pack

The Flow Show DEM fatale

China Equity Strategy: Post US-midterms: Can China’s Rally Last?

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

China A-share strategy: Caution on one-day rallies until volatility eases

China Flow Lens - Monthly: Depressed breadth and ETF buying offer support, but not yet a durable recovery

China Equity Strategy: 10 Oversold Stocks to Watch

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

Hong Kong rates: Maintain high conviction view in receiver position

China Equity Strategy: Stabilisation efforts to boost market sentiment

Strategy update: PBoC strikes – reduce conviction level on short USD CNH to 4 5

China Equity Strateg: China Five-factor Consumer Activity Z-Score vs.MSCI China

China Market-Wise: National Team Stepping Up-Implications

US Equity Strategy - North America Weekly Warm-up-Enter Sandman

Portfolio Managers’ Monthly U.S. Equity Thematic Research

ASSET STRATEGY Cross-Asset Playbook – November 2026 Engage, With Caution

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

GOAL: Asset Allocation

Asia Quant Strategy: After all the turmoil, how to position for rest of the year?

Global Quant Panorama: Poised to catch up