Latest Asia Pacific Invesment Perspective from MS,

36 Pages


Strategy and Economics

5 Global Equity Strategy  A Quality Trade  Gerard Minack, Jason Todd
7 US Economics  Recovery Arrives – But Not a ‘V’    Richard Berner, David Greenlaw

Industry Analysis

9 Indonesia Banks The Final Stretch: How High  Can Valuations Go? Roger Lum, Samantha L Horton
Company Analysis
11 ↑ Baoshan Iron & Steel Pricing to Stabilise Soon as Over-production Eases – Upgrade to OW
Charles C. Spencer, Mean Phil Chong
13 China Mengniu Dairy On a Strong Recovery Path    Angela Moh, Penny Tu
15 Fortescue Metals Capital Likely Needed This Half   Craig Campbell, Cameron Judd
17 Hyundai Steel Better B/S & HRC Pricing: Raising PT     Hyunjae Lee, Sangkyoo Park, Charles C. Spencer
19 Incitec Pivot On balance DAP pricing likely to  remain firm  Michael Ward, Athlene Piech
21 Korea Zinc Shifting Toward Our Bull-Case Price  Assumptions  Sangkyoo Park, Hyunjae Lee, Charles C. Spencer
23 ↑ Shinsegae De-Rating Over, Valuation    Becoming Attractive; Upgrade to Overweight  Kelly H Kim, Jenna Mok, Angela Moh