Haitong International executive committee member and chief economist Zhang Yidong said in a new report that, after risk release from the Middle East conflict, elevated US Treasury yields and South Korea’s second‑round regulatory deleveraging, markets could begin to turn as early as early August. He judges China’s core equity assets have entered a left‑side accumulation window and may launch an autumn rally starting in August, with Hong Kong stocks possibly stabilizing ahead of offshore peers. A‑

Haitong International executive committee member and chief economist Zhang Yidong said in a new report that, after risk release from the Middle East conflict, elevated US Treasury yields and South Korea’s second‑round regulatory deleveraging, markets could begin to turn as early as early August. He judges China’s core equity assets have entered a left‑side accumulation window and may launch an autumn rally starting in August, with Hong Kong stocks possibly stabilizing ahead of offshore peers. A‑shares and Hong Kong stocks, which began adjusting in mid‑May, have already priced in some risks and have largely confirmed a bottom, now trading in low‑volume consolidation and base‑building mode.