Higher valuation an increasing concerns: investors seem generally less keen to chasestocks at this level given the high multiple and concerns on when strong sectors such asApple supply chain start to falter. For sectors such as flexible PCB, investors generallyindicated that they will not chase the stocks at this level. On the other hand, investorwelcomed two types of ideas:(1) Laggards; and(2) Short ideas.    Increasing interest on Kinsus: We remain positive on Kinsus given stable asp andmore disciplined industry capacity expansion, which enable SLP vendors to enjoy highermargins. We also pointed out that nVidia and the potential flexible PCB business shouldserve as long-term growth drivers. Investors seemed intrigued by its low valuation andpotential consensus upgrades over the next 12months.    HDI tightness not well known and could be an upside surprise for Tripod: Investorsseemed surprised to see improving industry dynamics within the HDI space after we laidout our analysis (here). We see potential opportunity for Tripod to expand market share inChina smartphone in 2018e. Its good dividend yield, decent management team, and solidprogress in auto and server segments were also well appreciated.    Landmark: like the story and would wait for better entry point: Investors seemedgenerally positive on the long-term industry structural growth and Landmark's uniqueposition. We highlighted that the earlier than expected 25G LD shipment is positive forLandmark to catch the 100G upgrade trend in the data centre space. Despite concernson the sustainability of Intel’s SiPh (Silicon Photonics) business, we believe Landmark iswell positioned to benefit from both SiPh and conventional optical fibre market growth.While valuations remain high, investors generally agreed that outlook remains solid.    Less interest to add FPC names at current valuation. Investors in general shareconcerns on likely intensifying competition in 2018that may bring downside risks andappear to have turned more conservative post the recent rally.

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