March 18, 2025 05:59 AM GMT Greater China Technology Hardware | Asia Pacific Morgan Stanley Taiwan Limited+ AI Supply Chain – Latest MGX Ecosystem Suppliers At GTC 2025, the latest MGX Ecosystem supplier list was updated as below. We recognize that this is the reference supplier list offered by NVDA and this does not mean direct project wins for these companies. We highlight a few notable changes, vs. the list offered last October: - NVQD is the new design for GB300 server racks that connects cold plate mod ...

March 16, 2025 09:00 PM GMT Investor Presentation | Asia Pacific M Foundation China Equity Strategy: Getting Out of the Woods Morgan Stanley does and seeks to do business with companies covered in Morgan Stanley Research. As a result, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of Morgan Stanley Research. Investors should consider Morgan Stanley Research as only a single factor in making their investment decision. For analyst certification and ot ...

March 16, 2025 06:00 AM GMT M Global Foundation Sunday Start | What's Next in Global Macro Is the Correction Over? Major US equity Indices are as oversold as they've been since 2022, sentiment/ positioning gauges have lightened up considerably, and seasonals are set to improve in the second half of March for earnings revisions and price. Furthermore, recent dollar weakness should provide a tailwind to 1Q earnings season/2Q guidance relative to 4Q24, and, if historical patterns hold, the decline in rates sho ...

Global Markets Strategy March 2025 This material is neither intended to be distributed to Mainland China investors nor to provide securities investment consultancy services within the territory of Mainland China. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. China/HK Equity Strategy Chartbook Wendy Liu AC (852) 2800 1087 wendy.m.liu@jpmorgan.com J.P. Morgan Securities (Asia Pacific) Limited/J.P. Morgan Broking (Hong Kong) Limited ...

更多资料加入知识星球：水木调研纪要 关注公众号：水木纪要 Asia Pacific Equity Research 16 March 2025 China Internet earnings calendar Thoughts into the peak of 4Q24 earnings season See page 9 for analyst certification and important disclosures, including non-US analyst disclosures. J.P. Morgan does and seeks to do business with companies covered in its research reports. As a result, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. Investors should consider this re ...

更多资料加入知识星球：水木调研纪要 关注公众号：水木Alpha Morgan Stanley RESEARCH March 12, 2025 01:24 PM GMT Tesla Inc | North America Investor Survey Results: Growth Scare Returns shuinu9870 Wanted to share some thoughts from, and 9 question Tesla investor survey, sent to our distribution list on March 11th at 3:15pm with results aggregated from 245 responses over 17 hgars. 85% of respondents think Elon's political activities are having a negatiye or extremely negative impact on Tesla's business fundamentals. 59% of respondents ex ...

更多资料加入知识星球:水木调研纪要 关注公众号:水木Alpha 30 for 2027 │ North America Morqan Stanley RESEARCH Quality Stocks for a Long-Term Holding Period We refresh a cornerstone Morgan Shui nu9870 We refresh a cornerstone Morgan Stanley analysis, '30 for 2027,' March 12, 2025 11:22 PM GMT which represent sustainability &nfd quality of the business model, and opportunity to widen their competitive advantage. Our view remains that high-quality stocks are the place to be given elevated uncertainty. The Quality factor is outperformin ...

March 9, 2025 08:08 PM GMT Outlook: The 1Q25 GDP deflator appears likely stuck at -0.8%Y (vs. -0.7%Y in 4Q24). We maintain our view that reflation could be a bumpy and drawn-out process, as sustained reflation requires continued narrowing in the negative output gap, which could be difficult in view of tariff impact and a modest fiscal package. | M Reflation Momentum Eased in Jan-Feb | Zhipeng Cai Zhipeng.Cai@morganstanley.com Harry.Zhao@morganstanley.com | +852 2239-7820 +852 2239-7229 | | --- | --- | --- | ...

Investment Rating - The report does not explicitly state an investment rating for the industry Core Views - The report anticipates nominal GDP growth in China to remain below 4% starting from Q2 2025 due to factors such as slower exports, housing market weakness, and ongoing deflation [3][4] - The impact of tariff shocks on exports is expected to worsen overcapacity, although China is better prepared this time with supply chain adjustments [5] - The return of tech innovation is noted, but it is insufficient to break the cycle of deflation [5] Summary by Sections Economic Growth - Growth in China is projected to weaken from Q2 2025, influenced by declining exports and housing market challenges [4] - The report highlights a significant rebound in manufacturing and construction PMIs, while services remain subdued [59] Tariffs and Trade - The effective tariff rate on imports from China to the US has increased by 1.5 percentage points, indicating escalating trade tensions [9][10] - China's response to US tariffs has been measured, with a focus on maintaining trade balance despite challenges [23] Policy and Stimulus - A modest fiscal package of RMB 2 trillion has been announced, with a focus on technology and innovation [45][49] - The report outlines a "5R" reflation strategy aimed at addressing economic challenges through various policy measures, including fiscal and monetary easing [56] Social Dynamics and Welfare - The report emphasizes the need for social welfare reforms to stimulate consumption and reduce precautionary savings [78][80] - China's social welfare spending is relatively low compared to other countries, indicating room for improvement [82]