Galaxy Securities says China’s A-share market remains in wide-range volatility
with event-driven leadership and faster sector rotation; the market is
undergoing style rebalancing as crowding unwinds and expectations are being
tested. Short-term outlook: continued choppy trading with structural themes
persisting. July 15 is the mandatory deadline for A-share half-year report
previews; focus will shift toward fundamental verification—prioritize segment
leaders with visible orders and earnings visibility. SK Hynix’s Nasdaq listing
and progress on ChangXin Technology’s IPO reinforce the memory-chip upcycle
case, boosting attention on memory, advanced packaging and semiconductor
materials; after prior valuation digestion, positioning windows in these chains
have widened. Overall recommended approach: anchor on earnings and capture
structure-specific opportunities amid volatility.
