July 13, 2026 04:03 AM GMT Chemicals | North America Weekly Chains Update North America Polyethylene (PE) market update: spot domestic prices were -7cpp to -6cpp week-over-week (FOB Houston, railcar), and spot export prices were -4cpp to -3cpp week-over-week (FCA Houston, railcar). June contract prices were reported down -15cpp month-over-month. We expect that the settlement was below consensus expectations (which we believe were ~-10cpp). Reports indicated that markets were quiet this week with buyers cont ...

July 13, 2026 04:18 AM GMT Technology | North America Bringing More Light to Scale-Up Networks: An Updated Scale-Up Primer North America Industry View In-Line Morgan Stanley does and seeks to do business with companies covered in Morgan Stanley Research. As a result, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of Morgan Stanley Research. Investors should consider Morgan Stanley Research as only a single factor in making their investment decision. ...

July 13, 2026 04:21 AM GMT Keysight Technologies Inc | North America The KEYS for Every Door: Benefitting from Diversification in AI Architectures; Upgrade to OW | What's Changed | | | | --- | --- | --- | | Keysight Technologies Inc (KEYS.N) | From | To | | Rating | Equal-weight | Overweight | | Price Target | $350.00 | $400.00 | Upgrade to Overweight as broadening of AI network architectures expands KEYS opportunity set. Additional tailwinds from semis, A&D and emerging edge AI / 6G investment. Multiple in ...

July 13, 2026 04:40 AM GMT Investor Presentation | Asia Pacific M Foundation Asia Summer School: Hong Kong/China Insurance Morgan Stanley Asia Limited+ Rick Zhao Equity Analyst Rick.Zhao@morganstanley.com +852 2239-7033 Richard Xu, CFA Equity Analyst Richard.Xu@morganstanley.com +852 2848-6729 Chenqian Liu Research Associate Chenqian.Liu@morganstanley.com +852 3963-0359 Hong Kong/China Insurance Asia Pacific Industry View Attractive Morgan Stanley does and seeks to do business with companies covered in Morg ...

July 13, 2026 03:25 AM GMT Japan Quantitative Strategy | Japan Short Term Summer Correction in the AI Rally We do not believe the medium-term AI rally has ended. However, deteriorating foreign investor flows and summer position adjustments are likely to sustain near-term reversal pressure. While we do not recommend fully exiting AI-related positions, we tactically favor domestic demand value stocks. Key Takeaways | M Downloaded by zouguanzhong@cramc.hk | Not for redistribution without written consent of Mor ...

July 13, 2026 03:07 AM GMT Astra International Tbk PT | Asia Pacific M Update Auto Tracker Jun-26: Demand momentum remains strong Key Takeaways xEV market share reached ~26% in 1H26 with BEVs at 16% vs. 13% in 2025. We stay OW on ASII as we find the risk-reward attractive – fundamentals are steady, dividend yield is supportive, and rising focus on TSR (including the Rp8tn buyback) should help valuations. ASII is trading at an attractive valuation with NTM P/E of 6x and a 2026 dividend yield of 8%. See our r ...

We resume coverage of Pernod Ricard with an Underweight rating. With the balance sheet constrained, key markets still difficult, and its largest competitor set to take a more aggressive position on price, we see pressure building. We expect DD earnings downgrades for FY27. Key Takeaways Market conditions remain tough... Following the termination of merger talks with Brown Forman (BFB), the focus is on how Pernod will respond to Diageo's price readjustment strategy. Meanwhile, market conditions remain tough. ...

July 13, 2026 02:32 AM GMT Space | North America Adding SpaceX to the Space 60: US Space Value Chain Mapping The Space 60 is a diversified list of publicly-traded enablers across the space value chain, from raw materials to launch and satellite operators. We add SpaceX, as its most vertically integrated, and now largest, constituent. Also adding HawkEye 360, Applied Aerospace, and Satellogic. The Space 60's newest (and largest) member: SpaceX (SPCX): We recently initiated coverage of SpaceX (SPCX.O) at Over ...

July 13, 2026 02:29 AM GMT Sino Biopharmaceutical | Asia Pacific M Update Risk Reward Update What's Changed Sino Biopharmaceutical (1177.HK) From To Bear Case HK$4.80 HK$4.50 Updated Components EPS Bull Base Bear Scenarios Risk Reward for Sino Biopharmaceutical (1177.HK) has been updated Reason for change Model adjustments ahead of 1H26 results. We keep innovative drug forecasts largely unchanged, while lowering generic+biosimilar sales forecasts amid the latest sales rep policies and upcoming VBP. We also ...