2026年第二季度亚太地区十大投资精选

Top 10Asia Pac Ideas – Q2 2026We present our new list of 10 short-term stock recommendations among Asia Pac EquityAsia Pac Research companies we cover based on our view that these stocks could have the most significantmarket and business-related catalysts in the quarter ahead. Christine Tan>>Research AnalystMerrill Lynch (Hong Kong)christine.tan2@bofa.com We have constructed our list by canvassing BofA Fundamental Equity Research analyststo find 10 Asia Pac stocks that we cover and believe will significantly outperform/underperform peers in Q2 2026. We have then narrowed the list after consulting EquityResearch management, our Asia Pac strategy teams and sector heads, taking care todiversify exposures and drivers. We consider only Buy-rated names for our outperformideas and Underperform-rated names for underperform ideas. Kaspar Lam>>Research AnalystMerrill Lynch (Hong Kong)kaspar.lam@bofa.com Todd Zhou Yang Wu>>Research AnalystMerrill Lynch (Hong Kong)todd.wu@bofa.com See Team Page for List of Analysts Our Q2 2026 list consists of ten Buy-rated stocks.The 10 Buy-rated stocks areAstra, Fast Retailing, Goldwind, Ingenic, Link REIT, Mengniu Dairy, Mitsui E&S,SBI HD, Sinoma Sci & Tech, and Sona Comstar. How the list will be maintained and updated We will publish this list at the beginning of each quarter.Ideas will remain on the listthrough the quarter, unless coverage is dropped or the recommendation changes. Anysecurity removed during a quarter will not be replaced.If there are changes to the listduring the quarter, we will announce the change in a research report. Securities areintended to stay on the list for one quarter, though some may be chosen again for thenext quarter’s list. Exhibit1:Top 10 Asia Pac Ideas List–Q22026High conviction stock recommendations for the quarter ahead >> Employed by a non-US affiliate of BofAS and is not registered/qualified as a research analystunder the FINRA rules.Refer to "Other Important Disclosures" for information on certain BofA Securities entities that takeresponsibility for the information herein in particular jurisdictions.BofA Securities does and seeks to do business with issuers covered in its researchreports. As a result, investors should be aware that the firm may have a conflict ofinterest that could affect the objectivity of this report. Investors should consider thisreport as only a single factor in making their investment decision.Refer to important disclosures on page 49 to 52. Analyst Certification on page 38. PriceObjective Basis/Risk on page 35. Contents Top 10 Asia Pac Ideas of the quarter We update our list of 10 stock recommendations for Asia Pac companies that we cover,based on our viewsthat these could have the most significant market and business-related catalystsin the quarter ahead. Our idea in constructing this top 10 Asia Pac ideas list is to canvass the views of ourfundamental equity teams across each of the sectors we cover in Asia Pac to identify 10stocks that we believe will either significantly outperform or underperform peers in agiven sector by the most significant amount during the quarter. We will publish this listat the beginning of each quarter. Stock Selection Committee and criteria Given the breadth and scope of our overall coverage of stocks and sectors in Asia Pac,we recognize this recommended list cannot include nor is it designed to include all majorcatalysts. Our objective is to identify what we believe will be the highest impact ideas ineach quarter when we publish the list. To provide structure and discipline to the stock selection process, a committee drawnfrom members ofresearch management, our Asia Pac strategy teams and sector headswill be responsible for soliciting views on catalysts from our fundamental equity teamsand making determinations of which companies will comprise the list for each quarter. To qualify as an outperform idea, a stock must have a Buy recommendation from ourfundamental equity analyst. To qualify as an Underperform idea, a stock must have anUnderperform recommendation from our fundamental equity analyst.Diversity of the listand BofA macro views will also be factors in choosing stocks for the list. Additions/removals from the list & performance Once selected, our intention is that a stock would remain on the list for that quarter,unless rendered ineligible due to a change in the fundamental rating, or if the stock is nolong covered by BofA Fundamental Equity Research. The committee may, at itsdiscretion,remove a stock in the case of any significant event related to the stock.Astock removed during a quarter will not be replaced.For all changes to the list in anyquarter, we will announce the change in a research report. A stock may be included in the list for a subsequent quarter if we believe that thecatalyst identified for the stock in the previous quarter continues to apply for the nextquarter also. Our views on the relative share price out/underperformance would also befacto