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雷达卡
Language: English
Date: 9 Mar 2012
Page: 28
Overview 3
Eurozone strategy 4
France strategy 5
UK strategy 6
US strategy 7
Eurozone inflation 8
France inflation 10
UK inflation 12
US inflation 14
Inflation surprise indices 17
Key inflation charts 18
Real yields 19
Break-even spreads (BE) 20
Inflation swap 21
Cross-market spreads 22
Correlations, betas & CPI series 23
Disclosure appendix 26
Disclaimer 27
HSBC Global Research - Korean Banks
Language: English
Date: 9 Mar 2012
Page: 40
Investment summary 3
Road still bumpy, but everyone knows that 3
Liquidity-driven rally unlikely to be sustained 4
Fundamental improvements overlooked 5
Our new sector pick is KB Financial, followed by Shinhan 6
Regulatory overhang largely priced in 7
Regulatory risks unresolved but priced in 7
Two areas of weaknesses: NIM and credit card fees 8
Potential winners: Hana and DGB, BS; potential losers: IBK and Woori 10
Limited earnings impact from additional regulations 10
Liquidity-driven rally not
sustainable 11
KOSPI boosted by liquidity 11
Cheaper names tend to outperform in liquidity-driven rallies 14
Quality overshadowed by liquidity 15
Bank fundamentals have improved substantially 15
Looking for quality and value 17
Earnings revisions 20
Key changes to our estimates 20
Valuation and risks 23
Valuation methodologies 23
Risks 24
Company section 27
Disclosure appendix 36
Disclaimer 39
HSBC Global Research - China Construction Machinery
Language: English
Date: 9 Mar 2012
Page: 60
Investment summary 5
Demand set for revival 10
Structural growth drivers 18
Breaking down market growth by product 23
Financial leasing 33
Zoomlion (1157 HK) 35
Lonking (3339 HK) 41
Appendix I: Overseas manufacturers’ views on China 48
Appendix II: Profiles of key export markets 50
Disclosure appendix 56
Disclaimer 59
HSBC Global Research - Turkish Steel and Gold
Language: English
Date: 9 Mar 2012
Page: 40
本帖隐藏的内容
20120309 Turkish Steel and Gold.pdf
(466.68 KB)
20120309 Oil fuelling real yields.pdf
(344.62 KB)
20120309 Korean Banks.pdf
(317.38 KB)
20120309 China Construction Machinery.pdf
(601.48 KB)
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