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As we approach the mid-point of 2025, brokerage firms are convening a series of high-profile strategy meetings. Yesterday, Huatai Securities and Guotai Junan Securities concurrently held such meetings in Shanghai, drawing a significant crowd of investors. During these gatherings, brokerages universally expressed optimism regarding the A-share market's outlook for the latter half of the year. They contend that China's asset valuation adjustment process remains ongoing and that the technology sector has emerged as the preeminent theme of interest. Furthermore, several brokerages are upbeat about the performance of Hong Kong stocks in the second half of the year, particularly the technology sector, which stands to gain from the prevailing narrative surrounding the AI industry.
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