Earnings analysis 3
Asia ex-Japan aggregates 4
Market by market 11
China 13
Hong Kong 18
India 23
Indonesia 28
Korea 33
Malaysia 38
Philippines 43
Singapore 48
Taiwan 53
Thailand 58
Balance sheet 61
Sector analysis 63
Consumer Discretionary 66
Consumer staples 71
Energy 76
Healthcare 81
Industrials 86
Information Technology 91
Materials 96
Telecom Services 101
Utilities 106
Disclosure appendix 111
Disclaimer 113
Contents