China Technology Sector – Apple FY2Q23 beat on strong iPhone and EM; Positive on resilient performance amid headwinds
–Resilient 3Q23 despite macro headwinds; Positive outlook for auto and comm. business
–Aion’s turning profitable as a positive catalyst
Key domestic analog patterned wafer player well positioned to have multiple years of growth ahead
Positive profit alert alleviates GPM concerns; Upgrade to BUY
4Q22E net profit likely to turn positive
China Construction Machinery:Upbeat guidance from US AWP manufacturers reaffirms our positive stance on the sector
CoR sequentially improved turning to positive 2Q net profit growth; first interim dividend in place
–Positive on shipment recovery and upgrade trend; Maintain Hold on fair valuation
China Consumer – Positive takeaway from F&B distributors; but sector’s bull-run could take a breather from here