UBS Securities: Short-term "de-risking" of A-shares may be nearing its end.

UBS Securities China stock strategist Meng Lei pointed out in a report that the "de-risking" of A-shares in the short term may be coming to an end, and the impact of rising oil prices on total demand and profit margins is still to be observed. However, recent consistent earnings expectations have been revised upwards. From a macro perspective, China's reliance on oil and natural gas is relatively low among the major global economies, and the short-term surge in oil prices seems to have limited impact on the major indexes of the A-share market. Under the baseline scenario, it is expected that the earnings growth rate of all A-shares will increase to 8% by 2026.