CITIC Securities says the market outlook for September remains dominated by
stock-positioning and structural themes. It recommends retaining exposure to AI
compute, nonferrous metals, innovative drugs and selected export-oriented
manufacturers with sustained momentum, while prioritizing sectors currently
underweighted by institutions: banks, insurers and securities firms for
high-dividend, defensive characteristics; batteries, industrial and energy
metals and basic chemicals for earnings recovery; and cyclical catch-up plays
such as steel and hog farming.