We forecast 12-18% year-over-year increase for CSI 300, MSCI China, and MSCI Hong Kong, primarily driven by earnings growth.
Wendy Liu
E-commerce price competition may have peaked this quarter, which should help earnings revisions in 2026.
What will it take for foreign investors to return to Chinese stocks?
Haslinda Amin
Wendy Liu
Foreign investors need to see structural changes in earnings recovery and the economy turning more positive, particularly in consumption and property stabilization.
Wendy Liu
Chinese households have 80 trillion yuan in net wealth (deposits minus household debt) that could reallocate to equities if confidence returns.
How do you view the property sector risks given Vanke's debt issues?
Haslinda Amin
Wendy Liu
Property is becoming far less important to GDP growth but still matters at headline level. Credit issues being dealt with indicate underlying economic confidence.
What's the best AI investment strategy in China for 2026?
Haslinda Amin
Wendy Liu
The best bet is in ESS (energy storage systems) and renewable ecosystem at the intersection of anti-evolution trends, electrification for AI data centers, and exports.