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中文(ZH) 华泰证券:下半年风险资产或延续占优

Huatai Securities favors AI assets amid economic divergence

Huatai Securities predicts that risk assets will likely continue to outperform in the second half of the year, driven by the AI technological revolution, global manufacturing recovery, and limited room for further interest rate hikes by central banks. The firm anticipates a continued divergence in economic performance, favoring AI-related sectors and resources over consumption and traditional manufacturing. Within asset classes, the focus will shift to earnings growth rather than valuation expansion, with AI supply chains expected to lead. AI

IMPACT Suggests continued investment focus on AI-related sectors, influencing capital allocation within the industry.

RANK_REASON This is a financial market outlook report from an analyst firm, not a direct AI development or release.

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  1. 36氪 (36Kr) TIER_1 中文(ZH) ·

    Huatai Securities: Risk assets may continue to outperform in the second half of the year

    36氪获悉,华泰证券发布2026年中期展望报告称,AI科技革命+全球制造业修复+全球央行大幅加息空间有限等多重因素交织下,下半年风险资产或延续占优。经济K型分化趋势下,AI链+资源品>消费、制造>服务、硅基>碳基的分化格局或还将持续。资产层面,全球流动性见顶回落,估值修复空间有限,分子端成为大类资产“胜负手”,维持AI链>资源品>黄金>债券判断。分品种看,A股趋势不改,结构重于指数与节奏。操作上,市场极致分化后,资金或存在阶段性高切低需求,建议保持操作灵活度,并留有一定现金应对高波动环境。