Xu Meng of China AMC: Two Key Risks in Extreme Market Conditions Should Not Be Overlooked; Pay Attention to Investment Opportunities Arising from Spillover Effects of Sectoral Prosperity

① The technology sector’s upward momentum in the first half of the year was underpinned by strong fundamentals, but potential risks—including weakening growth prospects and tightening liquidity—cannot be overlooked. ② In the second half, investors may capitalize on investment opportunities arising from spillover effects of sectoral strength or use the STAR ChiNext 50 Index to more precisely position themselves within the technology segment. ③ Both A-share broad-market indices and Hong Kong-listed technology stocks, which currently trade at historically low valuations, offer room for valuation recovery.

cls.cnJul 7 13:14

CICC A-Share Capital Flow Panorama: Who Is Buying and Who Is Selling?

Year-to-date, A-shares have experienced overall volatility with a slight upward trend; as of July 3, the Shanghai Composite Index has risen by nearly 2%, while the broad-based A-share index has increased by approximately 9%.

Zhitong FinanceJul 7 07:53

Xun Yugen: Equities deliver higher long-term returns than other asset classes, with an annualized return of approximately 8–10%.

Gelonghui, June 29 — Xun Yugen, Chief Economist at Guosen Securities, stated that global experience over the past century shows that equities deliver higher long-term returns than other asset classes, with annualized returns of approximately 8–10%. Looking at the long-term returns of major asset classes in China, from 2005 to 2025, the Wind All-A Share Index and the CSI 300 Index (both including dividends) delivered annualized returns of 10.6% and 9.9%, respectively. Real estate (including rental income) yielded an annualized return of 8.3%, commodities as represented by the CRB Spot Index delivered 4.8% annualized returns, and bonds, measured by the ChinaBond Treasury Total Index, generated annualized returns of 4.3%. The level of market returns depends on the base

Gelonghui FinanceJun 29 10:06

Express News | Multiple equity funds have increased the weight of equity indices in their benchmarks, signaling strong confidence in the capital markets.

BreakingsJun 26 18:16

Express News | The June LPR quotes have been released: both the 5-year and 1-year rates remain unchanged.

BreakingsJun 22 09:00

CICC: How to Navigate Highly Crowded Assets?

Assets with high win rates but low payoff ratios theoretically require leverage to amplify returns (e.g., leveraged ETFs on the Korean equity market), but such an aggressive approach is clearly unsuitable for all investors; conversely, assets with high payoff ratios but low win rates entail excessive opportunity costs and are inappropriate for investors focused on relative returns or sensitive to capital costs.

Zhitong FinanceJun 22 08:00