5.27到5.28高盛高华研报3篇，pdf格式，内容如下：

中国经济指数——4月增长受假日调整影响放缓   08.05.27     共4页    中文
        我们认为，4月份实体经济增长的放缓可能主要是受到了今年公共假日调整的影响，而其根本增长趋势仍然稳固。（五一黄金周的三个公共假日被三个传统假日：清明（4月）、端午节（6月）、中秋（9月）所取代，因此今年4月份较去年4月少两个工作日，见图表2）。反之5月份数据可能也受假日因素干扰而表现强劲，因此，我们认为4、5两个月份的合计数据能够才更好地反映真正的实体经济增长趋势。

天然气市场周评——油价的上涨令我们上调天然气价格预测     08.05.28    13页，英文（有中文摘要）
       油价的上涨已提高了市场上获得液化天然气的成本。随着各地区争相希望获得液化天然气以填满库存，我们预计天然气价格将走高，因此我们将美国和英国夏季时的天然气价格分别提高至12.10 美元/百万英国热量单位和12.60 美元/百万英国热量单位，冬季时的价格分别提高至13.40 美元/百万英国热量单位和16.90 美元/百万英国热量单位

Real Estate Developers：Stress testing developers cash flow, earnings and NAV    08.05.28   11页  英文
Still disappointing...
        Disappointing data points again: (1) For the past two years (2006 and 2007), the first five months property sales in the country accounted for an average 28-29% of full year property sales amount and GFA sold; there is a similar pattern for China Vanke. However, this year most listed developers (deemed as the strongest players in the market) achieved less than 20% of respective full year targets through mid-May; (2) Last week (ending May 25), property transaction volumes (GFA/sales amount) in the primary markets of the 12 cities we follow were down 16%/6% wow, 35%/18% yoy; (3) Based on current sales speed, 6 of the 12 cities we monitor would need a year or more to digest current inventory (GFA available for sale), not to mention the new supply that might come into the market in the next few months.

[此贴子已经被作者于2008-5-28 20:28:02编辑过]