Galaxy Securities expects short-term equity indices to remain choppy as offshore
volatility and onshore positioning disruptions drive repeated swings, with
sector-level rebalancing ongoing. External shocks are seen as episodic; domestic
policy signals and core industry trends are intact. For the back half of Q3 the
firm forecasts a recovery driven by structural rotation and advises focusing on
policy-led themes and sectors where demand and earnings are being validated.
Near-term market catalysts: U.S. macro — Q2 GDP second estimate, July core PCE
and a Fed chair speech at Jackson Hole; tech earnings — NVIDIA’s report as a
barometer for global AI capex expectations; A-share mid-year results nearing
completion, with China industrial enterprise profits due next week providing a
macro gauge of earnings repair and a window for stock-specific alpha; industry
calendar — 2026 Wenchang International Aerospace Forum for aerospace-sector
signals.
