China Telecom & Internet Sectors：IPTV neutral to telcos for now, but may benefit long-term growth Hold: Lower than expected 4Q16 earnings Hold: Resilient 4Q16; uncertainty of alliances looms HDT market posted favourable results in January;fundamentals likely to remain strong Results missed, but DPU met News, views and valuation Yum Cha Asia Essentials Worried about rates impact on EM sovereign credit? Look at EM corporates January throughput growth slows sharply at major ports