---
title: "STOCKS | UBS Says Tech Stocks Can Be Bought Again, Prefers A-Shares Over Hong Kong"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/297593487.md"
description: "UBS China equity strategy head Wang Zonghao stated that tech stocks are buyable again, citing improved conditions regarding AI narratives and deleveraging. He prefers A-shares over Hong Kong stocks due to better liquidity and fewer IPOs. For the second half of the year, he anticipates broader sector performance beyond AI, recommending hardware, nonferrous metals, and bank stocks under a barbell strategy, while remaining cautious on consumer stocks. He maintains optimism for U.S. tech stocks with an S&P 500 year-end target of 8,100."
datetime: "2026-09-01T03:59:25.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/297593487.md)
  - [en](https://longbridge.com/en/news/297593487.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/297593487.md)
generator: "portal-rs"
---

# STOCKS | UBS Says Tech Stocks Can Be Bought Again, Prefers A-Shares Over Hong Kong

UBS China equity strategy head Wang Zonghao said at a media briefing on Tuesday that tech stocks can be bought again, and that he prefers A-shares over Hong Kong stocks, citing funding conditions and other factors. According to Sina Finance, Wang said the factors that previously triggered the pullback in tech stocks — changes in the AI narrative, concentrated positioning, and deleveraging — have all changed to some extent. He also said investors are expected to look for more non-AI sectors in the second half of the year, making overall sector performance in the stock market less narrow than in the first half. Wang said A-shares have relatively ample liquidity compared with Hong Kong stocks, where IPOs and placements are more frequent, and that he is more optimistic about hardware stocks, which are also more common in A-shares. He also remains positive on bank stocks under a barbell strategy, and recommended the nonferrous metals sector, which is less closely tied to AI, as well as overseas expansion themes. He was cautious on consumer stocks, saying incremental policies may be more focused on investment. He continues to favor U.S. tech stocks and has a year-end target of 8,100 for the S&P 500 index.

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**