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Greater China Strategy November Alpha Picks / China Automobile Weekly
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Strategy | Alpha Picks: November Conviction Calls
Chinese equities fell further in October, with the HSI and MSCI China Index dropping 5.4% mom and 7.2% mom respectively. Markets may stay volatile in November, but policy support for equities is stepping up and we see a high probability of a bottom forming in November. We add CR Mixc, Inovance and Weichai to our BUY list and cut losses on DiDi.
Sector Update | Automobile
October sales grew yoy at BYD, Geely and XPeng on exports, and fell at GWM and Li Auto. The EU opened a safeguard investigation into hybrid imports, and Chinese automakers are negotiating their individual shares of the EU hybrid export quota. Hesai launched Kosmo, its 3D world data engine for physical AI, XHEART, Momenta’s chip spin-off, launched the 700-TOPS X7 Ultra, on which Momenta’s R7 Ultra world model runs. Maintain MARKET WEIGHT. Top BUYs: BYD, Geely. Top SELLs: Li Auto, XPeng.
Top Stories
Strategy | Alpha Picks: November Conviction Calls
Chinese equities fell further in October, with the HSI and MSCI China Index dropping 5.4% mom and 7.2% mom respectively. Markets may stay volatile in November, but policy support for equities is stepping up and we see a high probability of a bottom forming in November. We add CR Mixc, Inovance and Weichai to our BUY list and cut losses on DiDi.
Sector Update | Automobile
October sales grew yoy at BYD, Geely and XPeng on exports, and fell at GWM and Li Auto. The EU opened a safeguard investigation into hybrid imports, and Chinese automakers are negotiating their individual shares of the EU hybrid export quota. Hesai launched Kosmo, its 3D world data engine for physical AI, XHEART, Momenta’s chip spin-off, launched the 700-TOPS X7 Ultra, on which Momenta’s R7 Ultra world model runs. Maintain MARKET WEIGHT. Top BUYs: BYD, Geely. Top SELLs: Li Auto, XPeng.
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Key Indices
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