中国与香港股票策略 2026 年展望：2026 年一季度的主题、风险、政策灵活性与优选标的-China & HK Equity Strategy_ 2026 Outlook_ Themes, risks, policy optionality and preferred picks for 1Q26. Wed Nov 26 2025

Global Markets Strategy 26 November 2025 This material is neither intended to be distributed to Mainland China investors nor to provide securities investment consultancy services within the territory of Mainland China. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. China & HK Equity Strategy 2026 Outlook: Themes, risks, policy optionality and preferred picks for 1Q26 For 2026, we stick to our constructive stance on MXCN/CSI300 held ...