Oil's bleeding on peace talks. Supply won't stay quiet.

Buy China internet — Bloomberg and SCMP both flag policy support and Hong Kong’s globalization platform — KWEB down 29% YTD, so the catalyst lands on a beaten-down group.

Buy Alibaba — Two sources confirm AI and policy tailwinds; BABA is 31% below its 52-week high and at 1.6x book, undervalued if the narrative shifts.

Buy Baidu — Bloomberg and SCMP convergence — Baidu as China’s AI leader stands to benefit directly, and it trades at 0.96x book.

Buy China large caps — Two sources confirm Chinese tech revival; FXI at 0.83x book and touching 52-week lows — broad upside if the group re-rates.

Buy Mitsubishi UFJ — Nikkei Asia flags record dividend as BOJ hikes boost margins; MUFG +32% YTD but still 1.7x book, payout expansion keeps the trade alive.

Buy Sumitomo Mitsui — Part of the 2tn yen dividend wave; SMFG +29.7% YTD, 1.6x book — income investors have more to come as net interest margins widen.

Buy Mizuho — Mizuho’s record payout is a direct consequence of Japan’s rate normalisation; MFG +39% YTD, still 1.8x book.

Sell Nvidia — Mackintosh’s thesis is contrarian but the corporate seller signal is real — NVDA +11.6% YTD, but profit-taking from these levels is the trade.

Sell Microsoft — WSJ Markets’ warning applies to AI spenders; MSFT -19.8% YTD already discounts some AI hype, but the behavioural risk remains.

Sell AI ETF — A direct play on the AI spending top — AIQ +29.9% YTD and 5% below its high, so a decline would hit concentrated names hard.

Watch US Oil Fund — Six clusters split: talks progress and tanker traffic argue for lower prices, but the Qatar blast and Iran’s threats keep supply risk alive — USO -8.4% 1w, but any setback reverses it fast.

Buy ICICI Bank — Record ABS sales point to strong credit demand; IBN -6.8% YTD and 2.6x book, banks are not pricing the growth.

Buy HDFC Bank — Global banks’ appetite for Indian credit should lift HDB; it’s down 31.3% YTD, making today’s record ABS a contrarian entry.

Buy India ETF — Credit market boom is a leading indicator for equities; INDA -9.1% YTD and 10% above 52w-low, so the tailwind is underappreciated.

Buy Rare earth ETF — Bloomberg’s report suggests supply tightens; REMX +24.4% YTD but 14% below high — the catalyst could extend the rally.

Buy MP Materials — Direct beneficiary of less Chinese competition; MP +10.8% YTD but 39% below high — rerating possible if supply fears mount.

Watch Long-duration Treasuries — Warsh’s review could mean tighter policy; TLT at 52-week low already prices some of that, but more might be coming.

Watch US Dollar Index — A remade Fed that prioritises inflation could strengthen the dollar; DXY steady at 100.9, but policy uncertainty keeps it a watch.

Buy Natural gas fund — Qatar LNG supply at risk; UNG -2.7% YTD, so a supply interruption could reverse recent weakness.