Asian Daily

DISCLOSURE APPENDIX CONTAINS ANALYST CERTIFICATIONS AND THE STATUS OF NON-US ANALYSTS. FOR OTHER IMPORTANT DISCLOSURES, visit www.credit-suisse.com/ researchdisclosures or call +1 (877) 291-2683. U.S. Disclosure: Credit Suisse does and seeks to do business with companies covered in its research reports. As a result, 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 CREDIT SUISSE SECURITIES RESEARCH & ANALYTICS BEYOND INFORMATION TM Client-Driven Solutions, Insights, and Access Tuesday, 03 February 2015 Asian Daily (Asia Edition) EPS, TP and Rating changes EPS TP (% change) T+1 T+2 Chg Up/Dn Rating Daqin Railway Co. Ltd. (14) (1) 65 41 O (O) GOME 5 (7) (25) 27 O (O) JD.com, Inc. Initiation 41 O (NA) Jumei International Holding Limited (15) (33) (17) (4) N (N) Suning Commerce Group Co., Ltd. Initiation 8 N (NA) Yantai Jereh Oilfield Services -15.1 -16.2 (16) 21 O (O) NagaCorp Limited 2 (11) (6) 18 O (O) Ashok Leyland Ltd n.m. 19 31 (4) N (N) Bharat Forge Limited 13 9 16 (6) N (N) Exide Industries (4) (4) 6 (15) U (N) Thermax (1) (5) 0 (4) N (N) Eagle High Plantations (28) (73) (3) N (NA) Sony n.m (0.72) 27 19 O (O) Yaskawa Electric 3 23 33 22 O (N) CJ O Shopping Co Ltd (10) (7) (11) 39 O (O) VGI Global Media PCL (9) (6) (2) 13 O (O) Connecting clients to corporates Corporate Days / Conferences India Mid-Cap Discovery Day Date 24-25 February, Singapore Asian Investment Conference Date 23-27 March, Hong Kong Hong Kong / China (Non-deal roadshow) SmarTone Telecom (0315.HK) Date 25-26 February, Hong Kong Analyst Chate Benchavitvilai Singapore (Non-deal roadshow) The Erawan Group (ERW.BK) Date 04-05 February, Singapore Analyst Thaniya Kevalee E.Sun Financial Holding Co.(2884.TW) Date 09-12 February, Singapore Analyst Chung Hsu Bank Alfalah (BAFL.KA) Date 16-17 February, Singapore Analyst Farhan Rizvi US (Non-deal roadshow) HCL Technologies (HCLT.BO) Date 06-13 February, US Analyst Anantha Narayan Others Samsung Electronics (005930.KS) Date 02-03 February, Tokyo Analyst Keon Han The Erawan Group (ERW.BK) Date 06 February, Kuala Lumpur Analyst Thaniya Kevalee Contact cseq.events@credit-suisse.com or Your usual sales representative. Top of the pack ... JD.com, Inc. (JD.OQ) – Initiating Coverage with O Kevin Yin (4) New report: Unique logistics system to support breakeven in 2016 Suning Commerce Group Co., Ltd. (002024.SZ) – Initiating Coverage with N Kevin Yin (5) New report: Fundamentals improving; fairly valued Sony (6758.T) – Maintain O Shunsuke Tsuchiya (6) Games and semiconductor growth potential impressive Hong Kong Property Sector Joyce Kwock (7) Decent start to 2015; further room to run Daqin Railway Co. Ltd. (601006.SS) – Maintain O Edmond Huang, CFA (8) New report: Significant beneficiary of cargo tariff hike; retain OUTPERFORM with new TP of Rmb15 CS pic of the day Source: the BLOOMBERG PROFESSIONAL™ service, Credit SuisseCS old vs new vs consensus forecasts(simple average across 10 NJA economies)Asia Economics: Our new forecasts generally imply further downside to consensus inflation and policy rate projections and upside to current account numbersWith a series of potential game-changing events coming through in the past few months, we re-assessed our key macro themes, projections, and non-consensus calls for Asia in 2015. We have been pushing “3Ds” macro themes for 2015—disinflation, dovish surprise, and disappointing growth. We believe the first two have further to run. Disappointing growth theme is now less dominant, as the consensus forecasts have come down. ... and the whole pack Regional Asia Pacific Strategy Kin Nang Chik (9) Credit Suisse GEM valuation snapshot Asia Pacific Strategy Kin Nang Chik (10) Credit Suisse valuation snapshot China China Property Sector Jinsong Du (11) Weekly update: Primary market volumes decreased 2% WoW but rose 420% YoY, up 44% YTD Financial Street Holding (000402.SZ) – Maintain U Jinsong Du (12) FY14E attributable net profit increase of 0-5% YoY Daqin Railway Co. Ltd. (601006.SS) – Maintain O Edmond Huang, CFA (8) New report: Significant beneficiary of cargo tariff hike; retain OUTPERFORM with new TP of Rmb15 GOME (0493.HK) – Maintain O Kevin Yin (13) 2015E earnings growth to slow on softening SSSG and deleveraging; valuation is attractive ky.seong@samsung.com Ky Seong 02/03/15 12:45:59 AM Samsung Information Systems of Tuesday, 03 February 2015 Asian Daily - 2 of 48 - Asian indices - performance (% change) Closing 1D 1W 3M YTD ASX300 5557.6 0.7 2.2 1.9 3.9 CSEALL 7000.1 (2.5) (4.3) (4.4) (4.1) Hang Seng 24484.7 (0.1) (1.7) 2.7 3.7 H-SHARE 11578.3 (1.2) (5.3) 7.9 (3.4) JCI 5276.2 (0.2) 0.3 4.0 0.9 KLSE 1781.3 (0.1) (1.2) (4.0) 1.1 KOSPI 1952.7 0.2 0.9 0.9 1.9 KSE100 34676.3 0.7 0.6 14.2 7.9 NIFTY 8797.4 (0.1) (0.4) 5.7 6.2 NIKKEI 17558.0 (0.7)