Kate Zhu & team
Morgan Stanley
China’s construction industry “will continue to benefit from railway investment growth,” declares Kate Zhu, who guides the Morgan Stanley troupe of ten from runner-up to third place. “We expect margins to benefit from growing orders and a better project mix.” However, the researchers are cautious on that country’s machinery sector. “We expect downstream investment to slow in the medium term in both property and infrastructure,” says Zhu, who also pilots a runner-up crew in Autos & Auto Parts. “Fast-expanding equipment fleets will prevent an immediate rebound.” With analysts in Hong Kong, Mumbai, Seoul, Singapore and Sydney, the group tracks 73 stocks across the region and impresses clients with the breadth of its reporting. “Kate and her team have the most sophisticated database on the Street — they provide me with raw data in real time that I can use to keep a step ahead of the market,” observes one ally.— Paul Sweeney