Daphne International：Is a marketing budget of HK$180m sufficient? Xiaomi update; also 0700.HK,0941.HK CB announced, M & A in sight Hang Seng Index – Daily Futures Fair Value Monitor HSCEI – Daily Futures Fair Value Monitor Stock to re-rate; we expect 25% yoy increase in 1Q14 profit Sales volume dipped WoW; hit by Qingming Festival Brazil DI strategy: tactical rates steepening DI Jan-16x17 Valuation trough provides a good entry level; add to Conviction Q1 started as a dud but went out on a bang