Deutsche Bank-Thematic Research Monthly thematic ideas-106301840

DeutscheBankResearchMonthlythematicideasDistributedon:02/02/202410:03:06GMT#PositiveImpactFebruary2024LukeTemplemanGalinaPozdnyakovaOlgaCotagaResearchAnalystResearchAnalystResearchAnalystLuke.Templeman@db.comGalina.Pozdnyakova@db.comOlga.Cotaga@db.com+442075410130+442075474994+442075415910IDMePuOtRsTcAhNeTBRaEnSkEARReCsHeaDrIcShCLOSMUoRnEtShAlyNtDheAmNAaLtiYcSiTdeCaEsRTIFFICeAbTruIOaNryS2LO02C4ATEDINAPPENDIX1.MCI(P)041/10/2023.UNTIL19thMARCH2021INCOMPLETEDISCLOSURE0INFORMATIONMAYHAVEBEENDISPLAYED,PLEASESEEAPPENDIX1FORFURTHERDET7AITL2se3r0Ot6kwoPaExecutivesummary:OurtopideasthismonthScreeningKeymarket-movingthemesthismonth:1Geopolitical1.Screeningstocksforgeopoliticalriskrisk➢Ournewscreenanalysesglobalequitiesfortheonesmostlikelytobesubjecttogeopoliticalrisk.ThatcomesasmarketspaidmoreattentiontotheUSpresidentialelectioninJanuary,whiletensionswithChinaandtheMiddleEastcontinue.2LongChina2.ChinesemarketslookattractiveConsumers➢Itisperhapstheleastfavouredmarketintheworld.Butinvestorsshouldnotusethestockmarketasaproxyfortheeconomy.3areunder-OuranalysisshowsthatafterChineseandHongKongmarketsexperiencealargedrop,theytendtorallyveryhard,veryquickly.appreciated3.Theconsumerimpactontheeconomyisunderappreciated➢Atsomepoint,investorswillhavetoadmitthatconsumersremainresilient.Yet,consumersectorshaveunderperformedover4T...