Current A-Share and Hong Kong Stock Markets Deemed Secure, Unnecessary to Panic, Healthy and Sustainable Slow Bull Market Established

At the 2026 Sina Finance Global Capital Summit, Zhang Yidong, a member of the Executive Committee and Chief Economist and Head of Equity Research at Haitong International, stated that with the continued explosion of the AI sector, the weighting of the technology sector in the A-share and Hong Kong stock markets is persistently increasing.

Supported by the powerful empowerment of new quality productive forces, the overall profitability level of listed companies in the A-share and Hong Kong stock markets will undergo systematic improvement, with market fundamentals continuing to trend positively.

Addressing panic sentiment triggered by short-term market adjustments, Zhang Yidong explicitly reassured the market, stating that the current A-share and Hong Kong stock markets are operating stably overall, with no systemic risks present.

Short-term market fluctuations represent normal structural adjustments and do not signify an inflection point in the market trend; the overall market safety margin is sufficient.

Zhang Yidong provided an optimistic outlook for the medium to long-term direction of the capital markets. Leveraging the advantages of the nationwide mechanism under China's unique financial development path, the A-share and Hong Kong stock markets will break free from the pattern of sharp rises and falls, embarking on a healthy, robust, and sustainable long-term slow bull market, ushering in a new, positive cycle for capital market development.

Zhang Yidong pointed out that the core asset structure of the A-share and Hong Kong stock markets has been fundamentally reshaped and is not a result of short-term speculation.

In the future, sectors like TMT and advanced manufacturing will replace traditional industries to become the core foundation of both stock markets. The new momentum-driven market trend powered by technology possesses long-term and sustainable characteristics, far from being a fleeting phenomenon.

Based on the high prosperity of the technology industry, Zhang Yidong predicts that the capital markets will welcome a significant market trend.

The sustained high growth of domestic technology industries, including AI, will simultaneously drive valuation recovery and profit improvement for the technology sectors in both the A-share and Hong Kong stock markets, with the market expected to experience a definitive double benefit from earnings and valuations.