MTM Losses on Portfolio vs. Better Bank Results Momentum Continues on NIMs & Fee Growth The MAD (multi-asset daily) China market still the main breadwinner Cathay Pacific Key takeaways from management briefing Strong performance baked in the price Strong 1H13 results, core earnings up by 32.2% YoY Asset sales undercut future ROE 1H13 review: growth momentum beats; asset quality in-line Investing for the future