德意志银行-asiacredit,raveregularasiavaluationexpress-20170605-deutschebank

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1、DeutscheBankMarketsResearchAsiaCreditDate5June2017FrancoLamResearchAnalystAsiaCredit:RAVE(+852)22036226franco.lam@db.comRegularAsiaValuationExpressVikashAgarwalla,CFAResearchAnalyst(+65)64235718vikash.agarwalla@db.comTableofcontentsKarenKwan,MBAResearchAnalystPage(+65)642353871.Out/underper

2、formers………………………………………………………………..…………2karen.kwan@db.com2.Fundamentalsvs.valuationcharts………………………………………………………….………..3-6ViacheslavShilin,MBA3.Relativevaluecharts–Sovereigns&Quasis………………………………………………………….………..7ResearchAnalyst4.Relativevaluecharts-IG…………………………………………………………………...……..8-13(+65)64235

3、7265.Relativevaluecharts-HY………………………………………………...……………………………14viacheslav.shilin@db.com6.USDBondsIndexperformance………………………………………………………..…………15-167.USD&EURBondsNewissuesperformancemonitor……………………………………………………………………….…….17-188.Earningscalendar…………………………………………199.Researchcatalogue…………………………………………

4、……………………………….20________________________________________________________________________________________________________________DeutscheBankAG/HongKongDistributedon:05/06/201718:30:56GMTDISCLOSURESANDANALYSTCERTIFICATIONSARELOCATEDINAPPENDIX1.MCI(P)083/04/2017.0bed7b6cf11cPageCredit5June2017

5、Figure1:Top15out/underperformers(Basedon1-monthtotalreturn)2InvestmentgradeBanksHighYieldPERTIJ6.00'423.8%MIZUHO3.66'271.5%CIKLIS4.95'262.1%PERTIJ6.45'443.6%SUMIBK3.45'271.5%PLNIJ5.25'422.1%PERTIJ5.63'433.5%MUFG3.68'271.5%EVERRE8.25'221.8%PERTIJ6.50'413.5%ICICI4.00'261.4%EVERRE7.00'201.5%PT

6、TEPT6.35'423.4%BCHINA5.00'241.2%ZOOMLI6.13'221.5%TOPTB4.88'433.3%UOBSP2.88'271.2%TTMTIN5.75'241.4%SINOPE4.10'452.8%MUFG3.75'241.1%STDCTY7.25'211.3%TEMASE3.38'422.8%SHNHAN3.88'261.1%STDCTY5.88'191.2%CNOOC4.20'452.7%ICBCAS2.88'221.0%TATAIN5.95'241.1%PETMK4.50'452.7%WOORIB4.75'241.0%HONHUA7.45

7、'191.0%BEIENT6.38'412.6%BCHINA3.50'271.0%SXROBR4.85'191.0%CNOOC4.88'442.6%OCBCSP4.25'241.0%EVERRE9.50'241.0%SINOPE4.25'462.6%UOBSP3.50'261.0%LIHHK4.50'250.9%RILIN4.88'452.6%KBANK2.38'221.0%QHINVG7.25'200.9%PTTTB4.50'422.6%SDBC3.00'260.9%MPEL5.00'210.8%LI