China: An Equity Strategist’s Diary: Weekly wrap (8-12 Jun): Brief tech shakeout, impatience builds

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China: An Equity Strategist’s Diary: Weekly wrap (8-12 Jun): Brief tech shakeout, impatience builds

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China: An Equity Strategist’s Diary

Weekly wrap (8-12 Jun): Brief tech

shakeout, impatience builds

Equity Strategy

Weekly index performance 15 June 2026

HSCEI -0.7%/CSI 300 -0.8%: Weaker equity performance reflected a brief but sharp Equity Strategy

sentiment reset in AI trades amid valuational concerns, alongside renewed geopolitical China

risks and a hawkish repricing of Fed rate expectations. That said, downside remained

contained relative to Korea/Taiwan, suggesting a sentiment-driven shift. Macro wise, Table of Contents

China’s CPI stalled in May while PPI inflation accelerated, lifted by cost-push factors

Indices vs RRR cut 2

while demand still lagged. Sector wise, SAMR-led actions on platform marketing

Key themes update 3

practices, train-ticketing services, and user data collection renewed regulatory overhang

concerns, weighing on internet mega caps. Insurance led financials higher, supported by Market movements and capital flows 4

defensive rotation earlier in the week amid tech de-risking, and positioning ahead of the China Positioning 6

Lujiazui Forum (Jun 17-18). Financials, real estate, and communication services Earnings revisions 7

outperformed the most while discretionary, IT and industrials underperformed the most. Recovery trends 8

Macro: top weekly headlines & upcoming highlights Key events 9 Key news 10

Week of Jun 15: Tue, May industrial production, retail sales, FAI and new home prices;

China Coverage Universe 20

Geopolitical: Pentagon added Alibaba, Baidu, BYD and others to military-link company

list; China cancelled two diplomatic meetings with the EU as trade tensions build;