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Equity Bottom-Up

<ul><li class="p1">CK Hutchison Holdings', or CKHH's, interim results revealed a stronger-than-expected performance from 3 Group that helped to offset weaker retail contribution.</li><li class="p1">The company’s management provided additional insight into its sensitivity to the British pound sterling, supporting our view that CKHH’s earnings would decline by less than 3% if the pound sterling were to fall by 10%.</li></ul><p><em>Analysts: Dan Baker &amp; Lorraine Tan</em></p>

CK Hutchison Holdings', or CKHH's, interim results revealed a stronger-than-expected performance from 3 Group that helped to offset weaker retail contribution.The company’s management provided additional insight into its sensitivity to the British pound sterling, supporting our view that CKHH’s earnings would decline by less than 3% if the pound sterling were to fall by 10%.Analysts: Dan Baker &amp; Lorraine Tan

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