Strong bottom line, unpromising margin trend Disappointing 3Q13 results to drive underperformance Market Express China / Hong Kong Strong NIM；sharp repo asset growth NIM contraction；Tier-1 CAR decline Stronger 3Q on large one-offs﹣offs Positive catalysts are tracking intact Operationally improving trend may reverse in 4Q;chemicals loss – a concern 3Q13 – steady performance Seasonal strength, butovercapacity remains