Asia Pacific Daily
See important disclosures, including any required research certifications, beginning on page 59.
24 October 2012
Company Roadshows
Date Company Event Venue
26 Oct Gamevil (063080 KS) NDR US
29 Oct -
2 Nov
Ginko International (8406 TT) NDR Europe
30 Oct Bonjour (653 HK) Luncheon HK
30 Oct Bonjour (653 HK) Video Con. SG
31 Oct -
7 Nov
ASM Pacific (522 HK) NDR Europe
5 - 9 Nov Great Wall Motor (2333 HK) NDR Europe
7 - 8 Nov Acer (2353 TT) NDR HK
26 - 30 Nov Seegene (096530 KS) NDR US
30 Nov -
5 Dec
Lippo Karawaci (LPKR IJ) NDR US
3 - 7 Dec Daelim Industrial (000210 KS) NDR US
10 Dec Chow Tai Fook (1929 HK) NDR HK
10 - 14 Dec Chunghwa Telecom (2412 TT) NDR US
Daiwa Asian Events
Date Company Venue
13 - 16 Nov Daiwa Investment Conference Hong Kong
2012
HK
Source: Daiwa
Regional indices
Performance chg
(%)
EPS growth
(%)
PER
(x)
Market 1D 1M YTD 12E 13E 12E 13E
HSI 0.7 4.6 17.7 (1.4) 6.8 10.9 10.2
HSCEI 0.6 9.6 8.1 5.2 4.8 7.4 7.1
SENSEX* (0.4) (0.2) 21.1 10.3 13.7 14.6** 12.8**
KOSPI (0.8) (3.8) 5.5 29.1 20.6 10.3 8.6
TWSE (0.5) (5.4) 3.8 7.0 23.2 17.5 14.2
FSSTI 0.2 (0.9) 15.3 6.7 7.5 14.1 13.1
ASX 200 0.0 3.1 12.0 3.1 12.2 13.4 11.9
TOPIX (0.6) (0.9) 2.8 53.3 22.2 12.7 10.4
Source: Thomson Reuters
*Valuation based on MSCI India **MSCI India price as of 22-Oct
Analyst Rating Page
Daiwa’s Banner Products P.2-3
Major changes
Dongfeng Motor Group (489 HK) Jeff Chung Outperform
Underperform
P.4
The end of a ‘golden’ period
Target price 46.0% to HKD8.75
Jusung Engineering (036930 KS) Jae H. Lee Hold
Underperform
P.7
Tough times for display and solar-cell equipment
Target price 22.7% to KRW5800
DiGi.Com Bhd (DIGI MK) Ramakrishna
Maruvada
Underperform
Sell
P.11
Looks too rich to hold
Target price 1.3% to MYR3.90
Macro research
Technical Daily Comment Eiji Kinouchi P.15
Kinouchi’s Technical Tips for Institutions
Euro area wrap-up Tobias S. Blattner P.17
Overview
Other research
Orient Overseas International (316 HK) Kelvin Lau Buy P.19
Recovery appears in place
China Cement and Steel Weekly Felix Lam P.23
Demand improves: just seasonal?
China Coal and Power Weekly Dave Dai P.24
All waiting for demand
Qihoo 360 Technology (QIHU US) John Choi Not Rated P.26
Search business the next strategic step
POSCO (005490 KS) Sung Yop Chung Hold P.27
Still lacking upside momentum
Taiwan Semiconductor Manufacturing
(2330 TT)
Eric Chen Hold P.31
3Q12 and 2013 outlook
Hero Motocorp (HMCL IN) Navin Matta Hold P.35
Lacks near-term catalysts
Sterlite Industries India (STLT IN) Deepak Poddar Outperform P.39
Strong operating performance
Idea Cellular (IDEA IN) Ramakrishna
Maruvada
Underperform P.43
Falling short
Frasers Centrepoint Trust (FCT SP) David Lum Hold P.47
AEI pays off big
Ascott Residence Trust (ART SP) David Lum Buy P.50
Catching up
Korea: share prices and Daiwa recommendation trends P.53
Economic calendar – October 2012 P.55
Rating and target-price information P.56
Recently published reports P.56