Group 1 - The core viewpoint is that strong innovation capabilities, supportive policies, ample liquidity, and potential inflows from domestic and international institutional investors are expected to support the Chinese stock market for another prosperous year in 2026 [1] - UBS believes that the attractiveness of Chinese assets will further increase in 2026, positioning China as an important incremental market for international capital diversification [1] - Despite some macroeconomic challenges in 2026, the overall outlook for the Chinese stock market remains positive, particularly if the innovation sector continues to thrive [1][2] Group 2 - In terms of valuation, the Chinese stock market is still attractive relative to global markets, with further room for valuation recovery and upward movement [2] - There is an increasing interest from foreign capital in the Chinese stock market, alongside continuous domestic capital accumulation, which will provide ongoing support for the market [2] - The overall sentiment in the A-share market is recovering, with valuations improving but not reaching overheating levels, and the leverage ratio remains reasonable and healthy [2] Group 3 - A-share earnings are expected to accelerate with a year-on-year growth of 8% in 2026, primarily driven by the non-financial sector, which will be a key support for the stock market [2] - The overall attitude towards A-shares for 2026 is optimistic, with expectations for further advancements in the market [3]
内外资持续流入 瑞银预计2026年A股市场将进一步上行
Zhong Guo Jing Ying Bao·2026-01-14 08:32