Goldman Sachs maintains an overweight on China A-shares, citing superior Sharpe
ratios versus regional peers driven by an improved growth outlook, favorable
liquidity, diversified return sources and exposure to hard‑tech, AI-related
names. It downgraded Hong Kong stocks to market weight, saying the opportunity
cost of staying overweight has risen and preferring targeted alpha themes or
waiting for confirmation of its expected earnings-growth path before increasing
beta exposure.
