2026牛市继续？外资频繁“唱多”，呼吁“把握中国机遇”

Core Viewpoint - Foreign investment institutions are optimistic about the Chinese market, predicting a 38% increase in the stock market by the end of 2027, driven by earnings growth and valuation recovery [1][2][7]. Group 1: Market Outlook - Multiple foreign institutions express confidence in China's market opportunities, with predictions of continued investment in Chinese assets [1][4]. - Goldman Sachs forecasts a 38% rise in the Chinese stock market by the end of 2027, supported by earnings growth of 14% in 2026 and 12% in 2027, along with approximately 10% valuation recovery potential [2][6]. - The current valuation of the Chinese stock market is still below global peers and historical peaks, indicating potential for upward adjustment [1][9]. Group 2: Sector Performance - The best-performing sectors include materials, healthcare, and communication services, while consumer staples, utilities, and real estate lag behind [2]. - Chinese technology stocks are viewed as a core investment area, with significant growth potential driven by AI innovations and supportive policies [8][9][10]. Group 3: Investment Trends - There is a notable increase in foreign capital inflow into A-shares and onshore bond markets, attributed to improved risk appetite and developments in the domestic technology sector [4][6]. - Global hedge funds have raised their risk exposure to China, with net exposure increasing from 6.8% at the beginning of the year to 7.8% by the end of November [6]. - UBS highlights that despite limited government stimulus, upcoming policies may enhance support for manufacturing and technology sectors [4]. Group 4: Economic Support - The resilience of exports and stable domestic demand are providing strong support for the capital market [7]. - International institutions like the IMF and World Bank have raised their economic growth forecasts for China, indicating a robust contribution to global economic growth [7]. Group 5: Regional Insights - The Hong Kong stock market is benefiting from strong capital inflows and active IPO activities, with policy support for AI attracting further investments [12]. - Singapore's stock market is gaining attention due to its defensive advantages and high dividend returns [12]. - The South Korean stock market is also benefiting from the global AI and information technology boom [12].