China International Capital Co (CICC) said recent gains in traditional sectors may not be sustainable and evidence of a style rotation is insufficient. CICC remains firmly bullish on the AI and technology growth theme. If a tech-led rally persists, both Chinese and U.S. equities could perform well in H2. CICC recommends overweighting A-shares and Hong Kong equities and maintaining market weight on U.S. equities.

2026-08-12

China International Capital Co (CICC) said recent gains in traditional sectors may not be sustainable and evidence of a style rotation is insufficient. CICC remains firmly bullish on the AI and technology growth theme. If a tech-led rally persists, both Chinese and U.S. equities could perform well in H2. CICC recommends overweighting A-shares and Hong Kong equities and maintaining market weight on U.S. equities.