Recently, East Asia United Investment stated in a post that they continue to favor Chinese high beta technology, media, and telecommunications as well as state-owned energy companies in the Asian investment-grade bond market. They also favor Indonesian state-owned oil and gas companies, commodity producers, South Korean electric vehicle battery manufacturers, and South Korean financial institutions and securities. East Asia United Investment believes that funds can also find investment opportunities in high-yield bonds, such as Indian renewable energy. East Asia United Investment pointed out that they expect the Asian investment-grade bond market to continue to improve. The investment atmosphere in the market is positive, and investors believe that they will continue to take advantage of low prices, keeping credit spreads tight. Therefore, although there may be adjustments in the market, the impact is likely to be relatively shallow. Due to clear interest rate prospects, controllable volatility, and good bond supply and demand, technical factors remain stable. In terms of different sectors, the bank remains optimistic about Chinese state-owned enterprises and Chinese technology, media, and telecommunications investment-grade bonds due to supply shortages and stable fundamentals. At the same time, as the credit spreads for AAA-rated Chinese technology, media, and telecommunications bonds narrowed last month, investors began to favor related BBB-rated bonds, so the bank does not rule out the possibility of consolidation in this sector. South Korea's new issuances from the beginning of the year have been absorbed by the market and are trending positively, so the bank continues to look for valuable investment opportunities in the local bond market. Also favored by the bank are Indian corporate bonds, especially those with attractive yields, as they have the potential for narrowing credit spreads. Asian high-yield bonds had a strong performance in January, especially in the Chinese industrial, real estate, and Indian high-beta commodity sectors. The team is particularly interested in high-yield bonds that are undervalued compared to the broader market, such as some Chinese industrial companies, which have the opportunity to sell assets and find new financing channels, which can help improve credit conditions. Chinese real estate bonds have performed well, as there have been reports that the People's Bank of China and China's Interbank Market Dealers Association will relax restrictions on the use of commercial real estate liquidity funding and loan-to-value ratios. However, due to the still weak real estate market, the team maintains a cautious stance on the sector. Nevertheless, the bank believes that state-owned enterprises or developers with a state-owned background, as well as developers with investment properties, will be more resilient and have room for survival.