Worst may be behind China Education: 2017 policy change No.1: Déjà vu?Buy on excess concern on new policy Morning Meeting Notes China Oil & Gas Monthly: Will the steady oil & gas demand growth in 2016 continue in 2017? Stands to be the biggest gainer if charges for domestic routes go up GEMs Equity Strategy: Reducing Russia to underweight, increasing Korean IT exposure Buy：Demonetisation impacts 3Q performance Central and Eastern Europe：The trade channel U/G Holi to Buy,CN Ports:D/G Merchants/HPHT to Hold;Strategy: PPP Noble Group Limited: Upgrading 2020s to Buy, Downgrading perps to Hold