---
title: "Morgan Stanley's Wang Ying releases the 2026 China Stock Strategy Outlook: Next year will be a year of stabilization"
type: "News"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/266857094.md"
description: "Morgan Stanley's Chief Strategist for China, Wang Ying, released the 2026 China Stock Strategy Outlook, predicting that 2026 will be a year of stabilization, with limited upside for indices and moderate profit growth. Morgan Stanley slightly raised its target for the China stock index, believing that the reasonable price-to-earnings ratio range for the MSCI China Index is 12-13 times. International investor interest is strong, and southbound capital will continue to support liquidity in the Hong Kong market. The industry preference maintains a \"barbell strategy,\" overweighting leading internet and technology companies while underweighting real estate, consumer staples, and energy"
datetime: "2025-11-21T06:14:42.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/266857094.md)
  - [en](https://longbridge.com/en/news/266857094.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/266857094.md)
---

> 支持的语言: [English](https://longbridge.com/en/news/266857094.md) | [繁體中文](https://longbridge.com/zh-HK/news/266857094.md)


# Morgan Stanley's Wang Ying releases the 2026 China Stock Strategy Outlook: Next year will be a year of stabilization

Recently, Morgan Stanley's Chief Strategist for China, Wang Ying, released the 2026 China Stock Strategy Outlook. Wang Ying stated that following high returns in 2025, 2026 will be a year of stabilization. The upside potential for the index is limited, profit growth will be moderate, and valuations will stabilize at a higher range. Against the backdrop of China re-establishing its footing in the global technology race and easing trade tensions, stock selection driven by fundamentals and themes remains key. Wang Ying noted that as the forecast period rolls forward, Morgan Stanley has slightly raised its target for the China stock index: maintaining a relatively conservative view on profit growth for 2026, and believes that the reasonable 12-month forward price-to-earnings ratio range for the MSCI China Index is 12-13 times. "According to our latest global roadshow feedback, international investor interest remains strong, and southbound capital is expected to continue supporting liquidity in the Hong Kong market. Our analysis of the A-share market shows that there is still ample room for rotation from bonds and time deposits to stocks. We expect the offshore market and onshore A-share market to perform roughly in line," said Wang Ying. In terms of industry preferences, Wang Ying stated that they maintain a "barbell strategy": overweighting high-quality internet and technology leaders while underweighting industries dragged down by macro factors, such as real estate, consumer staples, and energy. At the same time, they will maintain selective allocation to certain high-dividend stocks to achieve stable cash returns

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