GUOTAI HAITONG SECURITIES·2026-03-03 02:25Asset Allocation Strategy - The report recommends an overweight allocation in March 2026 for AH stocks, gold, crude oil, and industrial commodities[1] - The suggested equity allocation weight for March 2026 is 45.00%, with specific allocations of 10.00% for A-shares and H-shares, and standard allocations for US, European, and Japanese stocks[1] - The bond allocation weight is set at 35.00%, including 7.50% for long-term and short-term government bonds, and 10.00% for long-term and short-term US Treasuries[1] Commodity Insights - A 20.00% allocation is recommended for commodities, with 10.00% for gold, 5.00% for crude oil, and 5.00% for industrial commodities[1] - The report highlights the acceleration of global order restructuring as a reason to favor gold, viewing it as a tangible asset against uncertainty[1] - The geopolitical situation in the Middle East is cited as a factor for recommending an overweight in crude oil due to potential price increases[1] Market Performance and Trends - The report notes that the Shanghai Composite Index has increased by 4.89% year-to-date, while the Hang Seng Index has risen by 3.90%[7] - The performance of the London gold spot has surged by 22.23% year-to-date, indicating strong demand for safe-haven assets[7] - The report emphasizes the importance of macroeconomic factors and their impact on asset pricing, suggesting that changes in economic expectations can significantly influence market trends[14]