实时全球研报

J.P. Morgan Taiwan FTM 20 Jul 26: Greater China Data watch; Chemical Reactions and More. Sun Jul 19 2026

发布日期: 2026-07-19研究机构: JPMorgan报告页数: 5原文语言: English证据页码: 1

研报英文原文证据摘录

Asia Pacific Equity Research

Taiwan First to Market 20 July 2026

Top Stories

Greater China (Feng Zhu)

• China: 2Q GDP disappoints even as June IP surprises to the upside

• We revise down our full-year GDP growth forecast, while lifting 3Q/4Q on stronger fiscal support

• Exports strengthened, imports stayed input-led

• Credit disappointed on weak loan demand

• Next week: China LPR; Hong Kong CPI; Taiwan export orders, labor, and IP

Chemical Reactions (Parsley Ong)

July 2026: PX spread jumped to highest since Aug 2024. Shandong tightens enforcement of ‘20-yr

old’ capacity phaseout

We relaunch our monthly chemical reactions series which outlines recent trends in the refining and chemicals space and

contains key spreads, demand, trade flow, policy, inventory and our current top picks/avoids.

本摘录由系统从所标注的 PDF 证据页直接提取并保留英文原文，不做批量翻译；登录后在阅读器切换中文时才按需翻译。