CITIC Securities: Global Growth on the Upswing, Seizing Equity Investment Opportunities

CICC's research report indicates that in terms of macro factors, global growth factors are on the rise, China's economic growth factors continue to rise, and domestic financial conditions remain loose. The short-term factor for crude oil supply is down. It is expected that in August 2025, China will be in stage two of the Pring Six Cycles domestically, and it is recommended to allocate to stocks. The latest suggestion for the ChinaBond Duration Timing Portfolio in the third quarter is mainly defensive with short duration, while the suggestion for US bonds is to maintain a long duration aggressive allocation. A tracking system for the performance of A-share listed companies found that the factors for the second quarter report of the Shanghai and Shenzhen 300 and CSI 500 indexes exceeded expectations, higher than the five-year average, with selected individual stocks benefiting from China's endogenous economic growth exceeding expectations.