Jenny Zheng, CFA Economist Jenny.L.Zheng@morganstanley.com +852 3963-4015 August 17, 2026 01:31 AM GMT Investor Presentation | Asia Pacific M Idea Will 3Q Weakness Trigger More Stimulus This Fall? Morgan Stanley Asia Limited+ Robin Xing Chief China Economist Robin.Xing@morganstanley.com +852 2848-6511 For analyst certification and other important disclosures, refer to the Disclosure Section, located at the end of this report. Downloaded by zouguanzhong@cramc.hk Not for redistribution without written consent ...