CITIC Securities: In the second half of the year, A-shares will experience a structural slow bull market

May 14th, CITIC Securities Research Report states that in the second half of 2026, the A-shares market will experience a structural slow bull trend, driven by structural prosperity and capital clustering, leading to a structural bull market. It recommends investors follow a “prosperity-oriented” investment strategy, focusing on the two main prosperity themes of “computing power bull” and “recovery bull.” The AI computing power theme is far from reaching a full bubble stage, with attention on the prosperity diffusion across the entire industry chain. The “recovery bull” driven by “PPI-export demand” is another key main theme this year.

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