Key Indices



Top Stories
Sector Update | Electronics
- Electronics earnings are expected to improve hoh in 2H26, supported by a strong semiconductor cycle in 2026-27. For KCE, we see a clear earnings outlook for 2H26-1Q27 due to the successful pass-through of higher costs to customers. We believe DELTA’s valuation has priced in concerns of a margin squeeze over raw material shortages, ahead of a 2H26 earnings recovery. We maintain MARKET WEIGHT, with KCE and DELTA as our top picks.
Top Stories
Sector Update | Electronics
- Electronics earnings are expected to improve hoh in 2H26, supported by a strong semiconductor cycle in 2026-27. For KCE, we see a clear earnings outlook for 2H26-1Q27 due to the successful pass-through of higher costs to customers. We believe DELTA’s valuation has priced in concerns of a margin squeeze over raw material shortages, ahead of a 2H26 earnings recovery. We maintain MARKET WEIGHT, with KCE and DELTA as our top picks.
Key Indices



IMPORTANT NOTICE - DISCLOSURES AND DISCLAIMERS
This report is provided subject to, and must be read together with, the full Disclosures / Disclaimers available at this link, which are incorporated by reference into this report. In particular, this report is intended for general circulation and informational purposes only and does not constitute personal investment advice or a recommendation to buy or sell any investment product or security. You should independently evaluate the information and, where necessary, seek advice from a qualified financial adviser regarding the suitability of any investment. Analyst certifications required under applicable regulations, including SEC Regulation AC (where relevant), are included in this report. By accessing, receiving or using this report, you acknowledge that you have read, understood and agreed to be bound by the Disclosures / Disclaimers, as may be amended, supplemented or updated from time to time.
Our latest research

31 Aug 2026
China Property / BYD Company / BYD Electronics / Haier Smart Home / Longfor Group / Meituan / Midea Group / Miniso / Ningbo Tuopu / Weichai Power / Wuliangye Yibin / Yuexiu Property

28 Aug 2026

