GEMs Equity Strategy: Reducing Russia to underweight, increasing Korean IT exposure Buy：Demonetisation impacts 3Q performance Central and Eastern Europe：The trade channel U/G Holi to Buy,CN Ports:D/G Merchants/HPHT to Hold;Strategy: PPP Noble Group Limited: Upgrading 2020s to Buy, Downgrading perps to Hold PBOC’s January data: corporate loan growth strong DB Today - Global/Macro Buy: Risk-reward remains favourable China Solar Sector：Roadshow feedback: Market views remain divided,but leading firms have low valuation risks China Healthcare Sector：Medium/long-term plan for chronic diseases will help development of chronic disease platforms