POWER ASSETS (00006.HK) delivered 2018 net profit of $7.636 billion and full-year DPS of $2.8, largely consistent with Nomura's forecasts and consensus. The broker cut the group's 2019E EPS by 2%, while maintaining it at Neutral with a $56 target (down from $76).

Nomura preferred CKI HOLDINGS (01038.HK) the most among utilities.