CITIC Securities: It is recommended to continue focusing on China's leading manufacturing industry and wait for April's decisive moment.

GateUser-bd883c58 · 2026-03-29T19:12:49+00:00

CITIC Securities pointed out that current market sentiment is cooling down. It recommends investors continue to focus on China's advantageous manufacturing industries, especially before the decision-making period in April, with a focus on sectors with core competitiveness such as chemicals and new energy. At the same time, attention should be given to undervalued sectors like insurance and securities firms, as PPI trading may become the main theme for the year.

GateUser-bd883c58

2026-03-29 19:12:49

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Ask AI · Why is the April decision period crucial for the PPI trading main line?

【CITIC Securities: For positioning, suggests continuing to uphold China’s advantaged manufacturing industries and waiting for the April decision】China Financial News, March 29 (Caixin.net), reported that in a research report, CITIC Securities believes that the capital market in the short term is still in a phase of cooling sentiment, and a risk-avoidance mindset may generate some demand to reduce holdings. In terms of allocation, it is suggested to continue to stick with China’s advantaged manufacturing industries and wait for the April decision. The current recommended core holdings are still industries where China has a share advantage, where overseas capacity reset costs are high and difficult, and where supply elasticity is easily affected by policy—based on chemicals, non-ferrous metals, electrical equipment, and new energy. On the basis of these core holdings, it is further suggested to continue increasing exposure to undervalued factor themes, with a focus on insurance, brokerages, and power. Considering the framework driven by short-term business cycle signals, price increases are still the sharpest “arrow,” and the probability that PPI trading becomes the full-year main line is rising—April to May is the decision period.

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