JPMorgan released a research report maintaining a positive view on the MSCI China Index and the CSI 300 Index since 9 January 2025 for 2026, and expecting further incline to remain intact in 2026.

The broker summarized four major investment themes as follows: (1) the acceleration of 'anti-involution' policy implementation is expected to structurally increase the profit margin and return on equity (ROE) of the MSCI China Index and CSI 300 Index, with current market estimates for net profit margin and ROE over the next 12 months being low; (2) strong growth in global AI infrastructure capital expenditure boosted China's local AI ecosystem and related localized industries; (3) developed market fiscal and monetary easing environments helped stabilize China's export sales; (4) consumption showed a K-shaped (divergent) recovery, with significant growth in high-end food & beverage and luxury goods sales, but mid-tier consumption recovery was relatively weak.

Related NewsJPM Keeps Overweight on NTES-S; Game Rev. to Continue Growing
JPMorgan selected top picks for 1Q26 in the Chinese market, including BIDU-SW (09888.HK)  +0.800 (+0.710%)    Short selling $298.31M; Ratio 33.803%   , NTES-S (09999.HK)  -0.200 (-0.093%)    Short selling $209.60M; Ratio 18.239%   , MIDEA GP (000333.SZ)  -0.070 (-0.088%)   , MIXUE GROUP (02097.HK)  +11.400 (+2.760%)    Short selling $495.60K; Ratio 0.566%   , PDD Holdings (PDD.US)      , POP MART (09992.HK)  +8.600 (+3.934%)    Short selling $979.15M; Ratio 16.602%   , TRIP.COM-S (09961.HK)  -1.000 (-0.187%)    Short selling $204.22M; Ratio 20.053%   , TINGYI (00322.HK)  -0.040 (-0.334%)    Short selling $8.72M; Ratio 16.057%   , Futu Holdings (FUTU.US)      , INNOVENT BIO (01801.HK)  -2.750 (-2.859%)    Short selling $71.16M; Ratio 6.802%   , CATL (300750.SZ)  +0.180 (+0.048%)   and CHINA OVERSEAS (00688.HK)  -0.280 (-2.047%)    Short selling $59.32M; Ratio 15.212%   .

Its top picks among Hong Kong equities include Futu Holdings (FUTU.US)      , HKEX (00388.HK)  -0.800 (-0.194%)    Short selling $147.08M; Ratio 10.015%   , AIA (01299.HK)  -1.550 (-1.889%)    Short selling $693.73M; Ratio 30.577%   , GALAXY ENT (00027.HK)  +0.700 (+1.763%)    Short selling $103.69M; Ratio 26.640%   , MGM CHINA (02282.HK)  +0.520 (+3.240%)    Short selling $8.14M; Ratio 13.213%   , TECHTRONIC IND (00669.HK)  +1.300 (+1.444%)    Short selling $52.69M; Ratio 21.030%   , CHINA STATE CON (03311.HK)  -0.110 (-1.166%)    Short selling $8.23M; Ratio 25.198%   , MTR CORPORATION (00066.HK)  -0.340 (-1.086%)    Short selling $134.95M; Ratio 32.738%   , LINK REIT (00823.HK)  +0.240 (+0.654%)    Short selling $110.33M; Ratio 17.542%   and HANG LUNG PPT (00101.HK)  +0.010 (+0.112%)    Short selling $5.46M; Ratio 15.648%   .
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-11-27 16:25.) (A Shares quote is delayed for at least 15 mins.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)