Hitachi (Energy IR Day), CSSC (PT cut), Leader Harmonious (margin trade-offs), India Auto (wholesale strength), feedback on CH/KR industrials and EV rally

J.P. Morgan APAC Specialist Sales reported that US equities were little changed as a roughly USD 9/bbl oil decline on renewed US-Iran talk hopes offset continued weakness in Tech and Energy, with the DXY falling for a fourth day and the 10Y yield easing 2bp to 4.9%. Hitachi released its Energy IR Day materials, raising its FY30 T&D addressable market to USD 400bn from USD 350bn and FY35 to USD 500bn from USD 450bn, moderating its sales CAGR target to the mid-teens through FY30 from above 15%, but lifting its Energy division mid-term margin outlook to 19-21% from 16-20% and raising its FY30 ROIC target to 30-40%; data-center orders are expected to grow from USD 4bn in FY25 to USD 7-8bn in FY27. The team fielded multiple inbounds on the strong China/Korea industrials and EV rally driven by fund flows, with the biggest sentiment shift on Korean shipbuilders, which trade at down-cycle valuations while earnings remain in a margin expansion cycle into 2027, and investors are looking to cover