(1) Strategy: Sept Financial Data Beat Expectation; Financing Environment Improving。    China’s financial data for September beat market expectation. M2grew 9.2% YoY inSeptember, up 0.3% when compared to that in August. Total social financing came inat RMB1.82trn, up RMB108.4bn YoY or RMB340.9bn MoM. New RMB loan increasedRMB56.6bn YoY or RMB160bn MoM to RMB1.27trn.….… (Click for details)。    (2) Strategy: Weekly Update – A‐Share Market to See More Upside。    Market sentiment improved in the week following the National Day holiday.Large‐cap consumer stocks such as the baijiu and home appliance namesoutperformed. Growth stocks with visible earnings also had fair performance.Cyclicals turned soft due to expectations for weaker demand.....… (Click for details)。    (3) Non‐ferrous Metals: Q3Results Preview – Higher Metal Prices to Boost CorporateEarnings。    The average price of basic metals remained strong in Q3, thanks to the robustmacro‐economic environment. Meanwhile, owing to tight supply amid productionrestrictions, the prices of rare and minor metals surged in Q3. Considering the largeincreases in Q3prices, we expect listed non‐ferrous companies to report a significantimprovement in their Q3earnings…… (Click for details)。    (4) Small & Mid Caps: Weekly Update – Commercialization of Energy Storage。    In the near term, both the fundamentals and monetary policies provide certainsupport to the market and we believe there will be structural opportunities.Considering the upcoming release of Q3results and the peak consumption season inQ4, we recommend the consumer sector….… (Click for details)。    (5) Retail: Weekly Update – Sector Recovery to Continue; Buy Industry Leaders in Q4。    China’s total retail sales amounted to RMB1.5trn in the 8‐day National Day holiday.The daily average sales rose 10.3% YoY, thanks to the two festivals (National Dayand Mid‐Autumn Festival) during the holiday. Mid‐ to high‐end products continuedto pick up in Q3. We remain positive about the gold & jewellery sector, as well asmid‐ to high‐end department stores with strong fundamentals and improvingoperating efficiency.…… (Click for details)。    (6) Anxin Trust (600816.CH): Q3Results In‐line; Net Profit Up 105% QoQ。    Anxin Trust announced its Q32017earnings. In Q32017, revenue surged 156.9%QoQ to RMB1.8bn and net profit attributable to the shareholders jumped 105% YoYto RMB1.2bn. The results were largely in line with expectations. We estimate theCompany’s 2017‐18E EPS at RMB0.86and RMB0.95, respectively, corresponding toPER of 15.6x and 14.1x. We assign a RECOMMEND rating to the counter consideringits strong fundamentals and potential upside.…… (Click for details)。

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