First Take: 1H13 below GSe on beer tax; bidding for Parknshop 1H13 results: driven by volume growth China Telecom Corp (728 HK) OW: 1H results – solid results confirm top-pick status in China telco space FOMC maintains tapering bias China Wireless (2369 HK) N(V): 4G priced in; further upside depends on expansion overseas Digital China Business transformation underway Chart Of The Day Sinopec Corp -H Improving refining outlook Techtronic Industries Lifting PT to HK$24 -accelerating sales and rising margins INVESTMENT DAILY