UBS Key Calls - APAC: What are the latest UBS APAC Key Calls?

研报英文原文证据摘录

UBS Key Calls - APAC: What are the latest UBS APAC Key Calls?

Global Research

2 July 2026ab

UBS Key Calls - APAC Equity Strategy

Asia PacificWhat are the latest UBS APAC Key Calls?

William Vanderpump

Product Manager

Remove Dongfang Electric-A from UBS APAC Key Call list william.vanderpump@ubs.com

+65-6495 6877

We remove Dongfang Electric-A from the UBS APAC Key Call list. Dongfang's share

price has been weak as we believe investors are concerned about construction delays for Diviya Nagarajan

Product Managerdata centres in the US, leading to an overall retreat by global power equipment stocks

diviya.nagarajan@ubs.com

since May; Chinese power equipment makers were more affected as they are marginal +852-3712 2740

suppliers to the global market. In addition, we believe Dongfang has performed worse

than other Chinese power equipment companies in the past two months because of its

exposure to coal power equipment, as investors have concerns about declines in the

order book in the lead-up to the 15th Five-Year Plan. However, we reiterate our Buy

rating on Dongfang, as we think the near-term weakness due to data centre

construction delays in the US could be an opportunity to accumulate. We also believe

coal power equipment orders will remain solid in the next few years.

Remove China Overseas Land & Investment from UBS APAC Key Call list

We remove COLI from the UBS APAC Key Call list following the recent share price

underperformance. However, we reiterate our Buy rating. Within the developer space,

COLI stands out for its strong exposure to tier-1 cities, positioning it to be a key

beneficiary as the property market recovery in tier-1 cities gains traction.

About UBS APAC Key Calls and a YTD performance update