CITIC Securities research note says divergence in rate‑hike expectations has
unsettled investors but the expected Fed rate hike would consolidate consensus
and could trigger a new equity leg. A‑shares posted a V‑shaped rebound on Friday
despite four major negatives; coupled with the anticipated Fed move, Thursday’s
sharp volume contraction and a relatively complete tech-sector correction, CITIC
says A‑shares may be at a market turning point and could begin a counterattack.
Recommended positioning: maintain a balanced base with tactical
flexibility—overweight telecoms and electronics as the offensive core and raise
allocations modestly; keep banks and insurers as defensive, low‑valuation
baseline holdings; monitor oil & gas exploration, coal chemicals, coal, oilfield
services and shipping/ports for upside from sustained high oil prices.
