Oil Services & Equipment:Weekly Insights & Analytics: Expect More Dividend Eliminations as Offshore Enters Preservation Mode China: when is a trillion not a trillion? Favor Good Execution. OW X5, Walmex, Pick 'n Pay,JMT, Falabella Amid Macro Deterioration in EM Banks cut valuations on 10 major HOS estates Greater China Quarterly Issues:Economic rebalancing is under way APAC Equity Strategy:DXY peaking? Catalyst for rally? Asia Pacific Strategy Dashboards FY15 profit warning-NP down by more than 70% A week of stabilized RMB and heavy liquidity injection from the PBoC Dayrates under pressure;Impairment risks and lower utilization;Sustainable lower capex;small FX positiv