Asia Equities Daily Focus： Asian Edition

Deutsche Bank Markets Research Asia Pan-Asia Strategy Periodical Asia Equities Daily Focus: Asian Edition Date 3 January 2013 Today's research headlines Asian Edition ________________________________________________________________________________________________________________ Deutsche Bank AG/Hong Kong Deutsche Bank does and seeks to do business with companies covered in its research reports. Thus, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in making their investment decision. DISCLOSURES AND ANALYST CERTIFICATIONS ARE LOCATED IN APPENDIX 1. MICA(P) 072/04/2012. William Bratton Research Analyst (+852) 2203 6186 william.bratton@db.com Indexes EQUITIES Close 1D Chg %Chg SHSZ300 2522.95 1.73 0.00 HSCEI 11897.66 4.04 4.04 HSI 23311.98 2.89 2.89 TWSE 7779.22 1.04 1.04 KOSPI 2031.10 1.71 1.71 FSSTI 3201.74 1.09 1.09 KLCI 1674.72 -0.84 -0.84 SENSEX 19714.24 0.68 1.48 NIFTY 5993.25 0.71 1.49 SET 1407.45 1.12 1.12 JCI 4346.48 0.69 0.69 PCOMP 5860.99 0.83 0.83 ASX200 4705.94 1.23 1.23 FOREX (vs US$) Close 1D Chg YTD %Chg Rmb 6.23 0.07 -0.04 HK$ 7.75 0.00 -0.01 NT$ 29.01 0.18 0.08 Won 1063.55 0.08 0.08 S$ 1.22 0.04 0.10 M$ 3.04 0.74 0.74 Rupee 54.36 0.60 1.17 Baht 30.32 0.89 0.89 Rupiah 9653.00 1.47 1.45 Peso 40.85 0.37 0.37 A$ 1.05 0.92 0.93 Source: Bloomberg Finance LP Latest Commodity Prices COMMODITIES Close 1D %Chg YTD %Chg West Texas 92.94 1.22 1.22 Brent 112.12 0.16 0.16 CRB 295.01 0.00 0.00 Copper 373.60 2.29 2.29 Gold (Spot) 1687.85 1.36 0.75 Alum. (LME) 2073.00 0.49 0.00 Baltic Dry 699.00 -0.14 0.00 Source: Bloomberg Finance LP DB CORPORATE ACCESS dbAccess China - Beijing 1/14 - 16 dbAccess India - Mumbai 3/4 - 6 dbAccess Asia - Singapore 5/20 - 22 RECOMMENDATION CHANGES Chinatrust FHC (2891.TW), TWD17.30 Buy Price Target TWD22.10 Lowering target price to NT$18.2; downgrading to Hold Pandora Lee Page 4 ESTIMATE & TARGET PRICE CHANGES Central Pattana (CPN.BK), THB81.25 Buy Price Target THB95.00 2013-14F earnings and TP revised up Sopicha Wattanasansanee Page 5 Indosat (ISAT.JK),IDR6,450.00 Hold Price Target IDR6,350.00 Turnaround : EBITDA upgrades Raymond Kosasih Page 6 STRATEGY/ECONOMICS Asia Credit Strategy 2012 Performance Review Gene Cheon Page 7 Asia Data Flash China PMI: steady recovery continues Jun Ma Page 8 Taiwan Strategy New Year, new policies Joelian Tseng Page 9 US Daily Economic Notes Just when you thought it was safe...another battle looms Joseph LaVorgna Page 10 US Equity Insights Done deal: S&P target raised to 1575 David Bianco Page 11 ADDITIONAL RESEARCH China TMT Daily China mobile commerce update; also, BIDU, 0728.HK Alan Hellawell III Page 12 C C Land (1224.HK), HKD2.81 Buy Price Target HKD4.75 Acquisition of a prime site in Chengdu's Longquanyi district Jason Ching Page 13 China Property Actual price hikes more modest than reported; policy risk remains low Jason Ching Page 14 China Prop Weekly Strong sales momentum continues well into the year-end Jason Ching Page 15 Construction Materials 2012 cement price recap Johnson Wan Page 16 Focus Media (FMCN.OQ), USD25.68 Definitive agreement signed Anne Ling Page 17 Gome (0493.HK),HKD0.96 Hold Price Target HKD0.89 Unveils a three-year strategic plan Anne Ling Page 18 Guangdong Investment (0270.HK),HKD6.22 Buy Price Target HKD6.40 GDI terminates property acquisition Kai-Ting Wong Page 19 3 January 2013 Asia Equities Daily Focus: Asian Edition Page 2 Deutsche Bank AG/Hong Kong ADDITIONAL RESEARCH (Continued) Huabao Int'l (0336.HK), HKD3.80 Buy Price Target HKD5.07 Retirement of CEO Anne Ling Page 20 Kaisa (1638.HK),HKD2.62 Buy Price Target HKD4.00 Achieved 105% of full-year contracted sales target in 2012 Jason Ching Page 21 Kaisa (1638.HK),HKD2.62 Buy Price Target HKD4.00 Launch of Kaisa City Plaza a success; fetching Rmb800mn in sales Jason Ching Page 22 Kaisa (1638.HK),HKD2.62 Buy Price Target HKD4.00 Proposed senior note issue expected to enhance financing profile Jason Ching Page 23 Macau Dec beats; Smoking ban a smooth transition on Day 1 Karen Tang Page 24 Property Chongqing property tour takeaways Jason Ching Page 25 Property Dec HK property marketing takeaways Jason Ching Page 26 Property December China property marketing takeaways Jason Ching Page 27 Sinofert (0297.HK), HKD1.96 Buy Price Target HKD2.38 Sinofert concludes potash import contract with Canpotex David Hurd Page 28 Asian Foundry Sector The 28nm theme continues to benefit the leader Michael Chou Page 29 Consumer Korea retailers Dec 2012 SSSg Jihyun Song Page 30 Korea Autos Global shipments of Hyundai up 5%, Kia down 4% in December Sanjeev Rana Page 31 STX Pan Ocean (028670.KS),KRW4,830.00 Buy Price Target KRW6,500.00 Stock price hits 7-month high on stake sale news; Buy Joe Liew Page 32 Property 4Q flash PPI; price growth accelerates Elai