China Hardware/Semi – Reality check on smartphone supply chain: Prefer Apple and RF names
People’s Republic of China: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the People’s Republic of China
China Consumer Staples – Divergence continues
China Auto Sector – Jan NEV likely in line or slightly miss; Li Auto beat
China Technology Sector – Apple FY1Q23 miss on macro and supply chain issues; Expect weakness to persist in near term
China Catering Sector: Customer traffic recovering; to drive margins in FY23
China Heavy-duty Truck: Expansion of gas/diesel price spread likely to boost natural gas HDT sales in the near term
China Economy: Deflation mildly alleviated while consumer demand remained weak
China Technology–Implications of NVIDIA FY2Q24:AI demand strength poised to continue into 2024
China Auto Sector–Sep leading indicators: Tesla new orders fell