麦格理-亚洲-股票市场-麦格理观点-20170821-Macquarie Marquee Ideas Macquarie’s high-conviction calls-20170821-Macquarie.pdfVIP
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ASIA Macquarie Marquee Ideas
Macquarie Marquee Ideas – Asia Macquarie’s high-conviction calls
Target
Ticker price (LC) TSR
Since launching our Marquee list almost a year ago, our Asia-ex list has returned
Asia ex-Japan
OUTPERFORM 38%, vs 28% for the MSCI Asia-ex. Our Japan Marquee has returned 24% vs.
China/HK 18% for MSCI Japan over the same period. Our Marquee stocks are purely
3SBio 1530 HK 11.50 +19%
Baidu * BIDU US 252.00 +14% driven by bottom-up stock call conviction by our sector and country heads.
Ping An 2318 HK 76.00 +28% Today, we switch in Baidu, Shuanghui, Samsung Electronics, and Tokyo
Prada 1913 HK 34.00 +23%
Shuanghui * 000895 CH 30.00 +45% Electron; and switch out Alibaba, Tingyi, SMIC, Jardine Cycle, Daiwa House,
Sunny Optical 2382 HK 140.00 +32% and Mitsubishi Estate.
Wharf Holding 4 HK 90.22 +33%
Wynn Macau 1128 HK 26.80 +62% Adding (Outperform list)
Yanzhou Coal 1171 HK 8.19 +16%
India Baidu (BIDU US) – Existing core business started to gain customers with
Larsen Toubro LT IN 1,417 +26%
Vedanta VEDL IN 300 +6% ARPU expansion in 2Q. Cost is well under control with the new management
Hindustan Unilever HUVR IN 1,402 +20% in place and we see potential for further margin expansion, with potential s
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