MTM losses drag 2013 earnings Contracted sales momentum picking up in Mar; ASP saw marked increase CSCI: 3M14 new contract value up 44% YoY; locking-in 41.6% of target Wechat open platform; also YOKU US Daily Economic Notes：April green shoots Mutual market access: Big sentiment boost; small earnings impact DB HK CSI Weekly Finally delivering on the "through train" promise, raise TP to HK$14 Hong Kong Strategy：One of our upside risks playing out March Exports down 6.6% yoy , Missed Consensus