ab Global Research and Evidence Lab 8 May 2024 China Equity Strategy Equity Strategy 1Q24 investor positioning update - foreign funds China less underweight but still at extreme levels James Wang Strategist james-zb.wang@ubs.com +852-3712 2557 Less underweight QoQ but still below 3Q22 levels Tommy Tang, CFA Our tracking of c.800 active foreign institutional funds suggests their underweight Associate Strategist relative to benchmark has improved from -2.6% in 4Q23 to -2.3% but still more tommy.tang@ubs.com + ...

本次电话会议仅服务于长江证券研究所白名单客户未经长江证券事先书面许可任何机构或个人不得以任何形式对外公布、复制、刊载、转载、转发、引用本次会议相关内容否则由此造成的一切后果及法律责任由该机构或个人承担长江证券保留追究其法律责任的权利 各位投资者晚上好我是长江传媒高超今天给各位带来AI黄金档的第36期基于目前来看整个AI这块新变化带来的一些投资机会整体来看的话整个五一期间的话还在AI这一块还是发生了比较多的这样的一些更迭我们写报告的时候就是还没有出说苹果包括微软要推出自己的AI模型 但其实整体来看,从ChadGBT推出自己的搜索引擎,包括导演去用SORA去做成MV,这样的一些形式来看,其实整体在商业化变现的这一块都是有一些新的探索。 从整体来看的话一方面就是我们刚刚提到的就是Chat GPT它跟搜索的这样的一个结合整体来看的话就是搜索这一块是我们觉得目前来看对于AI大模型相对大家使用比较广的这样的一个场景因为目前来看整个大模型大家还是作为一个偏工具型的这样的一个应用从海外整体来看的话包括OpenAI 包括这一类的AirPods里面大家去用到的比较多的一个功能也是去作为一个偏搜索这样调用的这样的一个引擎所以这一块 ...

J P M O R G A N Global Markets Strategy 17 April 2024 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. Flows & Liquidity A repeat of last August? Global Markets Strategy Nikolaos Panigirtzoglou AC (44-20) 7134-7815 nikolaos.panigirtzoglou@jpmorgan.com J.P. Mo ...

J P M O R G A N Global Commodities Research 17 April 2024 Oil Demand Tracker Global flight activity surpasses pre-pandemic levels for the first time ever • Our high-frequency demand indicators estimate that worldwide oil Global Commodities Research consumption so far in April averaged 101.0 mbd, 200 kbd below our published Prateek Kedia AC estimates (Figure 1). On a year-over-year basis, demand growth in April is (1-646) 326 1124 tracking at 1.46 mbd against our expectations of a 1.7 mbd increase. From the ...

ab Global Research and Evidence Lab 15 April 2024 Global Strategy Global Strategy Global leveraged loans look set to outperform Global despite fundamental concerns as rate cuts get James Martin Strategist pushed out james.martin@ubs.com +1-212-713 7960 Matthew Mish, CFA Strategist Summary of Key Takeaways: matthew.mish@ubs.com ˜ US and European Leveraged Loans are outperforming other credit classes this year, +1-203-719 1242 but valuations still look attractive versus HY counterparts Julien Conzano Strategi ...

ab Global Research and Evidence Lab 19 April 2024 US Equity Strategy Equity Strategy Earnings Brief 1Q24: Apr 19 Americas Jonathan Golub Strategist YTD, the price of oil has risen 15%. Over the same period, 1Q estimates for Energy jonathan.golub@ubs.com +1-212-713 8673 stocks have fallen -14%. Against this backdrop, we see the potential for positive surprises for the group. Patrick Palfrey Strategist patrick.palfrey@ubs.com 14.1% of the S&P 500's market cap has reported. 1Q expectations are for revenues to ...

ab Global Research and Evidence Lab 19 April 2024 Global Rates Strategy Interest Rates Rates Map: Pricing risk of US "no landing" Europe including UK Emmanouil Karimalis Strategist ˜ Market's increasing confidence about a "no landing" scenario for the US emmanouil.karimalis@ubs.com +44-20-7567 8000 economy, coupled with the ECB's readiness to cut rates in June, suggests that the divergence between US and EUR rates is likely to persist for longer. Reinout De Bock Strategist ˜ While the current market pricing ...

M Idea April 16, 2024 09:00 PM GMT Asia EM Equity Strategy | Asia Pacific Morgan Stanley Asia (Singapore) Pte.+ Daniel K Blake Equity Strategist Alpha, Beta, Thematic Biweekly Daniel.Blake@morganstanley.com + 65 6834-6597 Jonathan F Garner Equity Strategist – Navigating Higher Rates, Jonathan.Garner@morganstanley.com + 65 6834-8172 Kristal Ji Equity Strategist Elections and Geopolitics Kristal.Ji@morganstanley.com + 65 6834-6949 Morgan Stanley Asia Limited+ Crystal Ng Asia and EM equities are adjusting to a ...

M Update April 19, 2024 04:57 PM GMT China Quantitative Strategy | Asia Pacific Morgan Stanley Asia Limited+ Gilbert Wong, CFA Quantitative Strategist Chinese Growth/Tech – Active Gilbert.Wong@morganstanley.com +852 2848-7102 Laura Wang Equity Strategist Fund Flows and Short Interest Laura.Wang@morganstanley.com +852 2848-6853 Jason Ng, CFA Quantitative Strategist Jason.Dl.Ng@morganstanley.com +852 2848-8845 We observed that active long-only managers resumed net selling on Chinese Growth/Tech segment from M ...

ab Global Research and Evidence Lab 17 April 2024 APAC Economic Perspectives Economics ASEAN: Oil, the Fed, and central bank reaction Asia functions Grace Lim Economist grace-k.lim@ubs.com +65-6495 5965 Risks to inflation and US rate cuts imply bar to easing is higher Rohit Arora Events of the past few weeks have significant implications for ASEAN central bank Strategist reaction functions. Given a resilient US economy and sticky inflation, the Fed is unlikely rohit-b.arora@ubs.com +65-6495 5232 to cut in a ...