On September 1, Wang Zonghao, the Head of China Equity Strategy Research at UBS, emphasized during a media briefing held on Tuesday that the present presents a prime opportunity to re-enter the tech stock market. He expressed a more optimistic outlook on A-shares compared to Hong Kong stocks. Wang noted that the factors which previously triggered a downturn in tech stocks—such as shifts in AI narratives, concentrated investment positions, and deleveraging—have now transformed.

Investors, he anticipates, will pivot their attention towards non-AI sectors in the latter half of the year, fostering a more diversified performance across various stock market sectors. A-shares, characterized by their relatively ample liquidity and a higher concentration of hardware stocks, are thus poised to benefit.

Furthermore, leveraging a barbell allocation strategy, Wang also exhibits a bullish stance on bank stocks. He advocates for the non-ferrous metals sector and the theme of overseas expansion, with a keen eye on areas that exhibit a lower correlation with AI.

Wang maintains a cautious approach towards the consumption sector, believing that incremental policies are likely to concentrate more on investment. Additionally, he sustains his bullish sentiment on U.S. tech stocks, projecting that the S&P 500 index will ascend to 8,100 points by the year's end.