中国 A 股风格指南：2025 年以成长股反弹收官-China A-Share Style Guide_ 2025 ended with a rally in Growth

ab 5 January 2026 Global Research China A-Share Style Guide 2025 ended with a rally in Growth What is the current investing environment? The explanatory power of macroeconomic drivers continued in December, as the impact of the US two-year spread slightly increased. Pair-wise correlations across the equity market continued to decline while cross-sectional volatility picked up. We think these trends reflect lower price co-movements and more stock opportunities. What is the market valuation? China's A-share m ...