Table of Contents MSCI AC Asia Pacific ex Japan Market Valuation ...................................................... 3 - 6 Valuation vs. 5-Year Historical Average ..................................................................... 7 -...

内容简介 受地产投资带动，内需复苏斜率得以提升，确认中级调整已近尾声。受房地 产开工和地产投资回升带动，内需复苏斜率在经历了一个月的放缓之后再次 得到提升；流动性方面，M2大体稳定右行、M1继续回升、信贷环比回升， 暗示货币政策见底右行的迹象明显...

Table of Contents Summary .................................................................................................... 1 Liquidity trends in pictures...........................................................................4 Econo...

China Strategy More Jewels in the Crown: Adding More Stocks to Our China Franchise Basket Investment conclusion: Echoing our China economists long-term bullish call on China consumers today, we reiterate that the franchise stocks are the b...

Table of contents Small alteration to trajectory ...................................................3 Once in a lifetime: US and Euro area rebound together .......5 Asean Strategy Downgrading Indonesia to Neutral ...........9 Performance f...

The tales of Davids Hong Kong Great Eagle Risks fully priced in 11 Truly Driven by Palm and China 3G: upgrade our forecasts, target and rating 11 China Dalian Port 1H09 results review: a set of solid results in a tough environment 17 Xiame...

Table of Contents Too early to worry ....................................................................3 Emerging Markets' Monetary Cycles ....................................10 Brazil........................................................

Contents Global Equity Performance By Region......5 Global Equity Performance By Sector.......6 Global Equity Valuation......7 Global Asia leads, US and Europe to Follow..9 Leading Indicators Turning Up........................................

Contents Market Timing Indicators Morgan Stanley Forecasts and Recommendations 3 Market Timing Indicators 28 Earnings Growth Forecasts 4 Market Timing Indicators and Technical Indicators 29 Index Target Scenarios European Model Portfolio 5...

Table of contents Executive summary 3 Continental Europe: Getting less negative 6 1) High operational leverage into a recovery 6 2) Household savings ratios are high and there is pent-up demand 7 3) Valuation looks marginally attractive 8...