1QFY16 profit seen strong driven by divestment gain Downgrade the 2017s to Sell Mini Kospi 200 derivatives review：Steady start, but entry barriers need improving Songcheng Performance Alert：Songcheng to set up TMT investment fund for future acquisition Dynasty Ceramic：Good 2Q, bucking domestic trends DB Oily Rag：Total 2Q15, Saipem H115, Tullow H115 China: the myth of capital outflows Markets Overview FX Insights Commodities Comment：Trouble down pit: Copper mines begin to struggle