Positive guidance on int'l traffic and tariff outlook from the group luncheon in HK China in 2017: Five macro themes Freight rates remain elevated; high iron ore inventories at Chinese ports should result in destocking in the near term Get the facts right: The next iPhone casing will cost more than the market thinks (H shares) Global EM Equity Strategy: GEM Friday Factsheet – Week # 47 China Fintech: Survival of the fittest Small step for HK, large step for SZ Morning Meeting Daily FX Insights FX Pulse:Week Begins With Broad USD Profit Taking

More uncertainty Positive guidance on int'l traffic and tariff outlook from the group luncheon in HK China in 2017: Five macro themes Freight rates remain elevated; high iron ore inventories at Chinese ports should result in destocking in the near term Get the facts right: The next iPhone casing will cost more than the market thinks (H shares) Asia Pacific Equity Strategy: EPS revisions another reason to stick with export-oriented markets over domestics China Fintech: Survival of the fittest Small step for HK, large step for SZ Morning Meeting Daily FX Insights