Guotai Haitong maintains an overweight rating on China’s property services sector. Since 2026 the sector has been absorbing the aftermath of rapid expansion and facing weaker macro-driven operational pressure, but as business models and market expectations normalize, firms are prioritizing internal development and adopting technology to cut costs, boost efficiency and pursue measured growth. With the sector at a long-term valuation trough, Guotai Haitong sees potential for a simultaneous rebound

The UN World Food Programme said a strong El Nifio could push up food prices in affected countries by reducing crop yields and tightening local supplies. Climate shocks are also likely to weaken employment and incomes, lowering household purchasing power; the combined effect of higher food prices and falling incomes will increase acute food insecurity. WFP analysis shows that under current El Nifio conditions, by end-2027 about 49 million more people across 45 countries and territories already facing severe food insecurity would experience acute food insecurity, raising the total from roughly 225 million to 274 million, an increase of about 22%. Central America and southern Africa would be hardest hit, with significant impacts also expected in East Africa, South Asia and Southeast Asia.

Wars in West Asia and Europe and a refinery shift to higher‑margin products have intensified a fuel oil supply shortage. Kpler data show Middle East fuel oil exports fell 45% YoY from March–August to an average 447k b/d. Energy Aspects forecasts a 218k b/d Q3 fuel oil supply deficit — its first projected shortage since Q3 2025, when the gap was 6k b/d. Gasoline, diesel and jet fuel are all tightening, but rising diesel crack spreads are prompting refiners to maximize diesel and gasoline yields and to upgrade heavy residues via secondary processing rather than supply them as fuel oil, further reducing bunker availability and pushing bunker fuel prices higher, market participant Sunil Reddy said.