On June 17 at its 2026 mid-year strategy meeting in Shanghai, Nomura Orient International Securities said near-term risks center on shifts in US Treasury yield expectations and their spillovers to emerging markets. Strong US May nonfarm payrolls have lifted US yields; a marginal rise in inflation resilience has pressured global equities, and crowded AI positioning has amplified market volatility. Over the medium term the firm says China’s asset scale and policy support should enable strategic ex

On June 17 at its 2026 mid-year strategy meeting in Shanghai, Nomura Orient International Securities said near-term risks center on shifts in US Treasury yield expectations and their spillovers to emerging markets. Strong US May nonfarm payrolls have lifted US yields; a marginal rise in inflation resilience has pressured global equities, and crowded AI positioning has amplified market volatility. Over the medium term the firm says China’s asset scale and policy support should enable strategic excess returns via diversified A-share allocations. Technology and cyclical sectors are identified as the primary drivers of A-share earnings improvement, and investors are advised to maintain balanced exposure to both to participate in China’s recovery and growth.