Asia Insights: On Clients‘ Minds - Asia

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Asia Insights: On Clients‘ Minds - Asia

ASIA-PACIFIC | Asia Insights EquityJulyResearch3, 2026

On Clients' Minds - Asia Global Insights: GEM - In Case You Missed

It

We are pleased to present a selection of research from across the region

Europe Insights: In Case You Missed It...that was of greatest interest to readers over the past week. This includes

select top-down pieces, stock and sector research, plus the most-read US Insights: [Video] Weekly Jumpstart:

research from our Asia co-brand partners. Crosscurrents Intensify

On Clients' Minds - Japan

The most-read strategy and economics research this week...

GREED & Fear The past week has seen another DeepSeek moment. GREED & fear refers to the

launch on 13 June of GLM-5.2 by Hong Kong-listed Z.ai, formerly known as Zhipu AI. GREED

& fear is no expert but GREED & fear hears from more informed sources that this new model

is almost equal to Anthropic as a competitor for the corporate market and is just one quarter

of the cost in terms of cost per token.

India Equity Strategy Brent Crude has now moved down to the same level when the Iran war

started. MSCI India is down by 2%. We look at the stocks under coverage (253 stocks) and

see which stocks have OPFed / UPFed since the Feb 27th. On the back of stock performances

since then and basis our fundamental views, we highlight cement, Bajaj Finserv, oil mktg cos

and TVS as the key buy ideas which funding source being pharma exporters and capital market

volatility plays viz. BSE.

Japan Quantitative Strategy During our recent US and AU marketing, investors acknowledged

the risk of rising Return Concentration but argued this cycle is different, citing strong earnings.

While earnings are clearly robust, history shows that concentrated phases are often earnings-