Global Marketing Feedback – Rising Interest with Uncertain Timing

研报英文原文证据摘录

Global Marketing Feedback – Rising Interest with Uncertain Timing

Idea

July 1, 2026 09:00 PM GMT

Morgan Stanley Asia Limited+MChina Market-Wise | Asia Pacific Laura Wang

Equity Strategist

Global Marketing Feedback – Laura.Wang@morganstanley.comRobin Xing +852 2848-6853

Chief China Economist

Robin.Xing@morganstanley.com +852 2848-6511

Rising Interest with Uncertain Chloe Liu

Chloe.Liu1@morganstanley.com +852 2848-5497

Timing Jenny Zheng, CFA

Economist

Jenny.L.Zheng@morganstanley.com +852 3963-4015

We perceive rising interest in Chinese equities amid appreciation Zhipeng Cai

for China's innovation and concerns over soft macro data. Key EconomistZhipeng.Cai@morganstanley.com +852 2239-7820

questions focus on the best China trades, capital control Vicky Wu

measures, signposts for Hong Kong's catch-up, and consumption EquityVicky.Wu@morganstanley.comStrategist +852 3963-3928

and property stock outlook. Harry Zhao

China Equity Strategy: Harry.Zhao@morganstanley.com +852 2239-7229

Q1: How is investors' interest level in Chinese equities – expectation vs. surprise, if

any?

Q2: What explains the strong relative performance of A-shares versus Hong Kong

equities – is it sustainable? What's the best way to trade the China story?

Q3. Is China a good buy-the-dip opportunity now after underperforming the global

and regional markets YTD?

Q4. What are the signposts/developments/events to monitor for the Hong Kong

market to catch up?

Q5: How to interpret the recent capital market policy measures in China? What

further policy initiatives could be introduced, and what would they mean for

equities?

Q6: Is there still a chance for traditional consumption stocks and property stocks to

meaningfully rebound?

China's macro outlook:

Q1: Would <4.5%Y 2Q GDP growth trigger more stimulus in 2H?