发帖
雷达卡
800 Pages, English Pub
UBS’s Asian Key Themes and Stock Picks
A collection of our latest global, regional, country and sector views
UBS equities research has launched a series of products globally, entitled Outlook
2012. We present UBS’s key themes for the coming year in equity strategy,
economics, credit, by country, and by sector—both regionally and globally. We
outline what is likely to drive markets, what may surprise on the upside or
downside, and the catalysts for 2012. We also identify our most preferred and least
preferred stocks that we believe are likely to generate alpha, and drive
outperformance in 2012.
We expect economic growth to be very weak in 2012
Chief Asian Economist, Duncan Wooldridge, forecasts Asia ex-Japan GDP to slow
to 5.9% in 2012, which should bring down the CPI to 3.8%. We expect fiscal
stimulus to be a counter-cyclical tool on weaker economic growth in 2012.
Focus on easing inflation and monetary headwinds
Asian Equity Strategist, Niall MacLeod, expects growth to continue to slow and for
earnings forecasts to fall further. We think earnings risks and the risk of a recession
are priced into Asian equities; however, events in Europe should continue to
dominate Asian equities in 2012. We remain Overweight on China and India.
京公网安备 11010802022788号
