摩根士丹利：中国股票策略 -A 股情绪随关税关键日期临近而降温

China Equity Strategy | Asia Pacific A-Share Sentiment Drops as Tariff Critical Dates Approaching July 3, 2025 09:00 PM GMT Sentiment dropped on the absence of policy changes and approaching tariff critical dates. We caution against a potential volatility surge in the next month or two. We expect fund flow momentum to steadily pick up on a six- to 12-month basis. A-share investor sentiment fell vs. previous cycle: Weighted MSASI and simple MSASI dropped by 16ppt and 17ppt, to 71% and 57%, respectively, vs. ...