Treading water That was the easy part: Asian equities have now priced in a decent recovery over the next year But, with valuations a little stretched, market progress is likely to stutter over the next few quarters We recommend lowering cy...

Hong Kong Strategy Long-term Bullish, Near-term Neutral Favor Banks and Consumer Investment conclusion: Earnings growth and ROE have bottomed. Despite the rally year to date, we are still in the trough half of a recovering economic cycle,...

内容简介 1.实体经济中的行业轮动 2.资本市场中的行业轮动 3.如何确认周期...

内容简介 1.实体经济中的行业轮动 2.资本市场中的行业轮动 3.如何确认周期...

Contents Economics 4 Equity market outlook 7 Sector and stocks 15 Fixed income 22 FX: INR depreciation likely 24 Company profiles 27 Hindustan Unilever (HUVR IN, OW) 28 Shree Renuka Sugars (SHRS IN, OW/V) 29 Bank of Baroda (BOB IN, OW/V) 3...

Table of Contents Strategy .....................................................................................4 Global Economic Outlook......................................................22 SA Economic Outlook.............................

Table of Contents Split personality........................................................................3 Three steps to heaven..............................................................7 Taking the profitable detour ...................

内容简介 行业：石油 分析员：张金涛 分析：我们预计油价将在2009年上半年见底，下半年回升。在欧佩克的减产发生作用之前油价可能跌至30美元/桶的成本线附近。我们将08年油价下调至100美元/桶，09年下调至70美元/桶，维持2010年80美元/桶和长期油价假设85美...

Table of Contents GOVERNMENT Attorney General ......................................................................7 Central Bank .............................................................................8 Interior Minister ..............

This document was submitted as a dissertation in March 2004 in partial fulfillment of the requirements of the doctoral degree in policy analysis at the Pardee RAND Graduate School. The faculty committee that supervised and approved the dis...