At Shenwan Hongyuan’s 2027 capital markets conference, Fu Jingtao, head of macro
allocation research, said the 2026 H2 correction has not broken history
patterns and the next large upcycle is still likely to be driven by the AI
industry trend. He flagged Mar–Apr 2027 as a potential oversold rebound window
in which the A-share market may stop making new lows. After that period the
market could reach a bottom region, boosting structural opportunities and
thematic activity as a new consensus forms. Fu expects a ‘second-phase’ rally to
build in H2 2027 as asset-allocation conditions, industry trends and funding
supply-demand potentially shift from negative resonance to aligned, reinforcing
momentum.
