GS 高盛：每日中国报告 11.01 

China-Daily-Insights  11.01      13页

 

Today’s focus
China: Portfolio Strategy: A volatile path: CSI300 to 4700 by end-2008E
Asia Pacific: Portfolio Strategy: China A-H premiums: Unjustifiable in theory
China: Rolling out our new A-share target price framework
China Stance-at-a-Glance: November 2007: Liquidity matters
Bank of China (H) (3988.HK) Buy: 3Q07: strong operating results; better risk/reward; upgrade to Buy
China Resources Power (0836.HK): Jiangsu/Guizhou coal mines NPV-positive; affirm Conviction Buy
China: Utilities: Revising and initiating target prices for 10 A-share utilities
China: Energy: Oil: Product price hike long overdue; more needed to restore profits
China COSCO Holdings (1919.HK): Taking a breather; downgrade to Neutral
Headline news
Merging China's major airlines premature – CAAC (China Daily)
Yuan climbs to new high fourth time in six trading days (China Daily)
China to export less Nov petrol, may import some (Yahoo)
Time is mature for Chinese banks to explore SE Asian market (Xinhua)
More families worth more than US$1 million (Shanghai Daily)
China: Portfolio Strategy: A volatile path: CSI300 to 4700 by end-2008E, Thomas Deng, CFA
• New GS A-share valuation framework: We, together with our regional strategy team, have introduced a new model to help us to bou