ab 16 June 2025 Powered by YES UBS Evidence Lab Global Research China Property China Housing Survey: Subdued sentiment but stabilisation in tier 1 cities Weakened price expectations, with divergence among cities UBS Evidence Lab's latest China Housing survey of 2,500 respondents across mainland China (28 March-21 April 2025; > Access Dataset) shows a subdued intention to buy property over the next two years compared with the previous survey in Sept 2024. However, we see divergence among cities, with stable ...

ab 17 June 2025 Global Research Global Economics & Strategy Global Economic and Market Outlook 2025-26 (select slides) Economics Global Arend Kapteyn Economist arend.kapteyn@ubs.com +44-20-7567 0531 This report has been prepared by UBS AG London Branch. ANALYST CERTIFICATION AND REQUIRED DISCLOSURES, including information on the Quantitative Research Review published by UBS, begin on page 46. Tariff uncertainty is driving the outlook The Court of International Trade has halted 75% of Trump's tariffs (those ...

ab 17 June 2025 Global Research India Economic Perspectives India and gold: all that glitters Gold price rally to continue UBS's Basic Materials team forecasts the gold price to rise to US$3,500 in 2026. We believe the case for gold has become more compelling in an environment of escalating tariff uncertainty, weak growth, high inflation and lingering geopolitical risks. As most of India's gold supply is imported (87%), higher global gold prices (although we expect softer gold volume demand) imply that Indi ...

ab 18 June 2025 Global Research US Economic Perspectives June FOMC: The Fed's new outlook FOMC median policy assumption this year unchanged The FOMC left rates unchanged at their meeting this week but not their projections. In the June Summary of Economic Projections, the median assumption of appropriate policy (the median "dot") for 2025 was left unrevised at 3.9%, below our expectation for a 25 bp upward revision. However, 2026 revised up 25 bp to 3.6%, which was in line with our expectations, and up 25 b ...

ab Global Research 19 June 2025 Global Equity Strategy The dollar: why the bear market continues and UBS forecasts the dollar to continue to weaken to EUR/USD1.23-year end and YEN/ USD130 year-end. Of the major currencies, only the RMB and the Mexican Peso are forecast by UBS to depreciate beyond their forward rate against the dollar by year-end. Tactically, the dollar can continue to weaken despite DXY being close to a three- year low: UBS forecasts US GDP growth to slow from 1.7% YoY in Q2 to 0.9% Q4 YoY ...

ab 17 June 2025 Global Research China Equity Strategy A-share outlook H225: Five types of fund flows, five macro-scenario allocations Earnings may recover sequentially; trade/policy a swing factor for valuation Assuming US/China tariffs remain at their current levels, we expect CSI 300 A-share EPS to grow 6% YoY in 2025. Given the low base, we expect A-share earnings to rebound modestly each quarter this year, but deflationary pressure may constrain upward revisions to overall earnings estimates. Amid uncer ...

ab 13 June 2025 Global Research Global Oil and Gas Global Oil & Gas Valuation 13 June 2025 UBS Investment Research Global Oil & Gas Valuation Sheets This material has been prepared by UBS Europe SE Henri Patricot CFA, Analyst, +33-1-4888 3033, henri.patricot@ubs.com 13 June 2025 UBS does and seeks to do business with companies covered in its research reports. As a result, investors should be aware that the firm India Bharat Petroleum Hindustan Petroleum Indian Oil ONGC Reliance Industries Europe BP BW LPG C ...

abc 2025 年 06 月 13 日 | | 每股收益（UBS 稀释后） (Rmb) | | | --- | --- | --- | | | UBS | 市场预测 | | 12/25E | 6.76 | 6.56 | | 12/26E | 8.22 | 7.85 | | 12/27E | 9.68 | 9.14 | 闵 皓 分析师 S1460518050001 nora.min@ubs.com +86-21-3866 8905 Fast Take 科达利 要闻 科达利公告拟与人形机器人产业链公司合作设立合资公司布局灵巧手。 我们的解读 科达利当前在人形机器人的产品布局包括谐波减速器、关节组件及灵巧 手。随着行业的发展，我们认为公司在人形机器人领域的投入有望为其 注入新的增长动力。 股票 中国 汽车零配件业 12个月评级 买入 12个月目标价 Rmb175.00 股价 (2025年6月12日) Rmb111.13 RIC: 002850.SZ BBG: 002850 CS 交易数据和主要指标 52周股价波动范围 Rmb142.90-69.45 市值 Rmb30.2b/US$4.20b 已发行股本 271m ...

ab 13 June 2025 Global Research Global Strategy EM Credit: Mid-year Outlook - How to navigate 2H25 Fiscal dynamics, valuations and oil to weigh; US flows to partly offset Conflicting factors are pulling EM credit in different directions as the middle of the year approaches. On the macro side, EM fiscal G-R dynamics, taken as a whole, are weakening (point #1 below) while valuations are expensive again by historical standards (at least 1 STD below 10y avg. across all rating buckets, see Figure 1EM spreadnow g ...

ab 13 June 2025 Global Research First Read China Pet Food May 2025: robust growth in 618 campaign; Douyin Leads, Gambol and CPF continue gaining market share Sustained Strong Growth; Douyin Leads the Pack According to Meritco, online GMV for pet food across Tmall, Douyin, and JD rose by 18% YoY in May 2025, primarily driven by a 22% increase in volume. This was partially offset by a 4.3% decline in average selling price (ASP), attributed to the 618 campaign. Cumulative sales from January to May also grew by ...