The 720: China & India Strategy, Taiwan ABF sector, Greater China Tech Tour, JP Banks, Ryohin Keikaku, Xiaomi, Yaskawa, Laopu Gold

研报英文原文证据摘录

The 720: China & India Strategy, Taiwan ABF sector, Greater China Tech Tour, JP Banks, Ryohin Keikaku, Xiaomi, Yaskawa, Laopu Gold

Equity Research

13 July 2026 | 7:24AM HKT

The 720: China & India Strategy, Taiwan ABF sector, Greater China Tech

Tour, JP Banks, Ryohin Keikaku, Xiaomi, Yaskawa, Laopu Gold

In Focus | China & India Strategy Michael Snaith

+852-2978-0455 |

michael.snaith@gs.com

China Musings – Rotation Temptation. By market, our tactical preference still resides Goldman Sachs (Asia) L.L.C.

with China A (maintain OW) given its more favorable earnings momentum cyclically Caleb Chan

+852-2978-0790 | caleb.chan@gs.com

and underappreciated diversification benefits (to international investors), although Goldman Sachs (Asia) L.L.C.

we’d begin to scale into certain large-cap H-share Internet stocks considering their

meaningful de-rating ytd and our envisaged profit recovery in the quarters ahead.

Sectorally, our overweights in Materials, Cap Goods, and Insurance may offer

investors alpha opportunities beyond the AI universe, in addition to other non-AI

micro ideas in shipbuilding, (new) consumption, healthcare/biotech, the extended

housing value chain, brokers, and hog cycle that our sector analysts have recently

highlighted. Thematically, our Select China AI Portfolio and GS 15FYP Portfolio

remain our high-conviction ideas, and together with our HALO screen, our China

Prominent 10 Portfolio, GS China Growth Portfolio, and our Shareholder Returns list,

they should render investors exposures to what we view as alpha-generating themes

and vectors within the Chinese equity universe for the 2H of the year. Kinger Lau

India Strategy – Room To Rebound. We see room for the NIFTY to recover towards

our June 2027 target of 26,500, implying roughly 10% upside following a 9%