M August 7, 2024 06:30 AM GMT China Economics | Asia Pacific Dip in Exports and Jump in Imports Likely Transitory July's exports were likely disrupted by weather, while the jump in imports may also be a one-off. One print does not establish a trend: we still see resilient exports with a soft landing as the global base case, while imports remain soft amid reactive easing. Key Takeaways July's exports may be partly a hiccup from the extreme weather, with a large decline in the more susceptible labor-intensive ...

M August 8, 2024 04:01 AM GMT Thematic Thursday | North America Is It Really the Economy, Stupid? 3-minute read, ~580 words Our Thematic Insights in just a few minutes. Want more? Reach out or click the links below. We think it's a reasonable question given that the economy is typically a top concern for voters heading into elections – a heuristic memorialized by political strategist James Carville's axiom that "it's the economy, stupid." The data last Friday accelerated market concerns about a slowing econ ...

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M Idea Japan Equity Strategy | Japan August 6, 2024 08:00 PM GMT Great Reset & Great Volatility TOPIX P/E has tumbled to recession-phase levels. We believe the downturn in share prices will be reversed once the pessimism over the US economic outlook recedes. For now, we recommend choosing stocks from a volatility factor perspective. Key Takeaways The contrasting directions of US and Japanese monetary policy and weakness in US job figures have led to a reversal in the strategies that have prevailed in the ma ...

M Update Japan Economics | Japan August 7, 2024 10:16 AM GMT Our Impression About BoJ Deputy Gov. Uchida's Speech BoJ Dep. Gov. Uchida stated that the bank would not raise its policy rates while financial and capital markets remained unstable in his speech on Aug 7. It is more important to note that he wanted to clarify that his stance was not inconsistent with the bank's existing policy decision process. Key Takeaways Dep. Gov. Uchida stated that the bank would not raise its policy rates while financial an ...

M Update Consumer Staples | Europe August 8, 2024 06:37 AM GMT Commodity Cost Tracker - July 2024 Key Takeaways MS Consumer Staples Commodity Cost Index was up +9.3% y/y in July 2024 vs +11.3% y/y in June 2024 Our index was down -2.4% m/m, driven primarily by a moderation in cocoa and energy prices Excluding the Chocolate companies, our Staples Commodity Cost index was up +1% y/y and flat on a m/m basis MS Consumer Staples Commodity Cost Index is up +9.3% on a y/y basis, but - 2.4% m/m in July due to a mode ...

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Asia Pacific Equity Research 11 July 2024 Overweight Baidu.com (BIDU) BIDU, BIDU US Price: $97.94 A case study of robotaxi operation in Shanghai: 10 Jul 2024 identifying path to profitability Price Target: $175.00 PT End Date: 31 Dec 2024 Baidu’s share price has significantly outperformed the sector average as Internet measured by KWEB by 10ppt in the past 5 trading days as investors have Alex Yao AC shifted focus to its robotaxi operation, in our view. We think such a (86 21) 6106 6505 robotaxi trade on Ba ...

June 23, 2024 08:02 PM GMT Contrary to market concerns, our analysis shows still healthy growth in household financial assets, income and consumption amid de-risking efforts in China. However, some structural changes in allocation of income growth and over competition among goods and service providers could be concerns. Payment and job applications data shows consumption downgrade in first-tier cities and upgrade in rural/lower-tier cities. Job application and employment data showed a notable shift from int ...

Morqan Stanley July 1, 2024 03:00 AM GMT Morgan Stanley 10 Themes For 2024 - Progress Report Edward Stanley, Matias Ovrum Equity Strategists Morgan Stanley & Co. International plc+ 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 thei ...