Pair Trade Close Alert (MET US / AFL US) M&A revival continues with another big project bagged. Remain +ve Saudi Arabia heads for new VLCC - Shift in bargaining power Earnings still ok but sales under pressure; Valuation not excessive Lowering Estimates Following Sluggish Volumes in March FSC adopts stricter supervisory measures on China exposure Organic Growth Challenging, Pricing to Remain Firm CHINA RAILWAY CONSTRUCTION CORPORATION LIMITED CHINA RAILWAY GROUP LIMITED Expedite Sales and Investment