July 13, 2026 02:25 PM GMT S. Korea Insurers | Asia Pacific 2Q26 Preview: Modest Quarter, With Greater Focus on 2H 2Q should be a modest quarter with no major surprises, and we do not expect 2Q26 to serve as a broad re-rating catalyst. In 2H, investor focus is likely to shift toward indemnity reform and capital allocation, with DBI remaining our preferred pure- insurance defensive idea. 2Q26 preview – relatively quiet quarter: 2Q26 earnings for Korean insurers should be broadly uneventful, with no significa ...

July 13, 2026 02:24 PM GMT Telecommunications Services | Europe Inwit's request for a Telecom Italia injunction reportedly rejected Key Takeaways Injunction outcome: Reuters reported today (link) that an Italian judge has rejected Inwit's request to suspend Telecom Italia's exit from the MSA between the two companies, citing two sources familiar with the matter. Inwit has said it reserves the right to challenge the ruling. We are also awaiting the court decision on Inwit's requested injunction with Swisscom ...

Thermal coal prices trended down WoW, while coking coal prices varied. Thermal coal prices rolled back: QHD 5500 inched down 0.8% WoW to Rmb721/t as of July 10. BSPI edged up 0.3% WoW to Rmb714/t. CCI 5500 slipped 3.4% WoW to Rmb800/t. Mine-mouth prices for Shanxi Datong 5800 declined 2.4% WoW to Rmb683/t. July 13, 2026 02:39 PM GMT China Coal | Asia Pacific Weekly Coal Update: Periodic Coal Inventory Hovers at 5-year High at Bohai-Rim Ports Key Takeaways Seaborne prices unchanged: NEWC prices were flat WoW ...

July 13, 2026 02:33 PM GMT Australia Materials | Asia Pacific Equity Analyst R.Anand@morganstanley.com +61 2 9770-1136 Michael A Stancliff Research Associate Michael.Stancliff@morganstanley.com +61 2 9770-9253 M Idea DataDig: Pullback Playbook Charts, analysis, and comparables for the global mining sector. We think recent mining sector weakness reflects profit-taking after an 18-month run, rather than a cycle inflection. The pullback creates opportunity to rotate into commodities with stronger demand fundam ...

July 13, 2026 02:47 PM GMT Pharmaron | Asia Pacific M Update 1H26 Preliminary Tracking Full- year Guidance Reaction to earnings Unchanged Modest shortfall Largely unchanged Impact to our thesis Financial results versus consensus Direction of next 12-month consensus EPS Source: Company data, Morgan Stanley Research Key Takeaways Tracking the higher end of the 2026 guidance: The implied 2Q26 revenue Rmb3,894-4,087mn (+16.5-22.3% YoY) points to a sequential step-up in top-line growth (vs. +15.5% YoY in 1Q26), ...

M Update Weekly Database Tracker #28 Key Takeaways Weekly primary registered unit sales in 50 cities increased 8% YoY (vs. +24% YoY in the previous week) for the week ended July 12, bringing YTD sales to -11% YoY: Tier 1 city sales increased 26% (vs. -6% YoY). Tier 2 city sales increased 15% YoY (vs. +37% YoY). Tier 3 city sales decreased 20% YoY (vs. +2% YoY). Weekly secondary registered unit sales in 10 cities decreased 3% YoY (vs. +8% YoY in the previous week), bringing YTD sales to +4% YoY: Tier 1 city ...

July 13, 2026 02:47 PM GMT Diageo PLC | Europe All eyes on August 6th We refresh estimates to reflect potential on balance-sheet stock build at the end of FY2026, as flagged by the company in its aide-memoire. This suggests slightly worse FCF than guidance for FY26, but we make no other changes to our estimates besides higher finance costs related to lower FCF. Key Takeaways We refresh estimates to reflect management commentary that "we will ensure that we do the right thing to protect our business and buil ...

July 13, 2026 02:44 PM GMT ASEAN Telecoms and Media | Asia Pacific M Idea Is the next telco competitor not in-country, but in-orbit? We see rising concern around space-related developments across broadband, mobile & data centers. Near-term, we see it as complementary to gaps in terrestrial networks, but long-term terminal-value may be up for debate. Key Takeaways For Asean Telcos, we see three waves of impact. Near term: collaboration and rural coverage monetization, especially in archipelagic markets. Medi ...

July 13, 2026 02:46 PM GMT Asset Managers | North America June '26 AUM Flash: TROW, VRTS, VCTR TROW, VRTS, VCTR reported June AUM. For 2Q: TROW outflows of -$6.5b, better vs MSe -$14.3b and cons -$12.1b; VRTS implied outflows of -$5.7b, worse vs MSe -$4.9b and vs cons - $3.8b; VCTR inflows of +$4.2b better vs MSe +$1.3b and cons + $0.6b. Overall June LT AUM is 1.9% below MSe on avg for 2Q. T. Rowe Price (TROW): Highlights from month-end AuM disclosure: Virtus Investment Partners (VRTS): Highlights from mont ...

July 13, 2026 02:08 PM GMT India Economics | Asia Pacific M Update CPI Breaches 4% Mark in June Key Takeaways Our view – watchful of upside risks: The headline CPI print for June was higher than anticipated, driven by higher food and fuel prices, with core core inflation reflecting some upside even as absolute levels remain benign. High-frequency food prices for July (MTD) suggest a mixed trend across categories, while prices remain benign at the aggregate level. While headline CPI in July may remain around ...