亚洲股票策略- 从 “轮动” 到 “配置” 思维在中国的转变-Asia Equity Strategy_ From a ‘rotation‘ to an ‘allocation‘ mindset in China

J P M O R G A N Global Markets Strategy 22 February 2026 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. Asia Equity Strategy From a 'rotation' to an 'allocation' mindset in China When we upgraded China to OW in our Asia allocation late last November (2026 O ...