Sector Update � Technology (NEUTRAL, maintain)

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Sector Update � Technology (NEUTRAL, maintain) Focus: Optical sensing & Communication Our alliance partner, Daiwa, recently issued a thematic report on the Optical Sensing and Communication (OSC) sector, focusing on the sector�s large market potential and exciting growth prospects. Forecasting a 113% CAGR for the consumer-laser market (including automotive) for 2017-20, we flag Globe as a beneficiary. Inari is our preferred exposure in the infrastructure-laser space.

For important disclosures, please refer to the Disclosure section at the end of the individual linked research reports.