UBS(US:UBS) 券商中国·2026-01-15 07:32Core Viewpoint - The UBS Greater China Conference highlighted the increasing interest of international investors in the Chinese market, driven by China's economic resilience and innovation in sectors like advanced manufacturing and artificial intelligence [1][2]. Group 1: Market Trends and Investor Sentiment - The number of overseas clients has increased, indicating a renewed focus on China as a strategic market for UBS [1]. - By the third quarter of 2025, the underweight of foreign investment in Chinese stocks decreased from -2.5% in 2024 to -1.3%, a 48% year-on-year reduction [1]. - The number of mainland companies listed in Hong Kong reached 111 by the end of 2025, with a total market capitalization of $562.3 billion [1]. Group 2: Growth Opportunities in AI and Technology - UBS's CEO noted that the Asia-Pacific region is poised to benefit from a new wave of growth driven by AI, with significant advancements expected in the Chinese tech sector by 2025 [2]. - China is expected to lead in AI technology, supported by favorable policies that enhance the resilience of the ecosystem [2]. - UBS anticipates that its assets under management in the Asia-Pacific will exceed $1 trillion, with record financial performance in China [2]. Group 3: Stock Market Outlook - UBS's China equity strategy head expressed optimism for the stock market, suggesting that as long as the innovation sector continues to thrive, it will positively impact the overall market [3]. - Historical trends indicate that policy support is a major driver of stock market performance, with ongoing liquidity support from the central bank and backing for the A-share market [3]. - Despite current valuations, Chinese stocks remain attractive compared to global markets, leading to a recommendation for overweighting Chinese equities [3]. Group 4: Market Dynamics and Investment Strategies - Recent inflows into A-shares have not resulted in overheating, with market sentiment remaining moderately positive [4]. - The combination of improved earnings and valuation recovery is expected to drive further upward movement in the A-share market [4]. - Growth and cyclical styles are favored, as market uptrends typically encourage higher risk-taking, benefiting growth stocks [4].