海外研报

MS--Valuation Chartbook – September 2024

Key TakeawaysGlobal Staples slightly re-rated on an absolute basis in the last 4W to 20.1x N12MP/E, led by ROW Staples while EU and US valuations were broadly flat

Hong Kong: Retail sales fell further in May

On a month-over-month basis (seasonally adjusted), Hong Kong retail salescontinued to decline in May (-1.6% in value terms, -1.4% in volume terms). Sales