<p>在利率已达到峰值且传统资产之间的相关性已破裂的宏观环境中，投资者不再能够依赖被动持有现金，KGI 国际财富管理部负责人 James Wey 表示。因此，该公司维持其 “LEAD” 策略，即 “流动性转移”、“以收益为中心”、“增加信贷” 和 “多元化资产”。</p>
<p>KGI 国际财富管理首席投资官 Cusson Leung 表示，展望 2026 年下半年，中国经济预计将触底并稳定，关注点将从 “高增长” 转向 “高可见性”。在通缩缓解和宽松政策的背景下，他建议抓住四个主要机会。</p>
<p>首先，由贸易谈判引发的波动性提供了长期积累的机会。其次，加速实现人工智能红利，青睐大型模型领导者和机器人公司。第三，避免 “内卷” 的光伏行业，而是布局风能和领先的锂电池制造商。第四，大型国有银行的净息差压力收窄凸显了它们的防御性和收益生成价值。总之，“技术创新” 和 “绿色能源” 应作为双重增长引擎，而 “稳定的财务状况” 则作为防御性基石，以在市场波动中实现稳健收益。</p>
<p>KGI 维持对恒生指数 30,000 点的预测，并推荐 CHINAHONGQIAO (01378.HK) 0.000 (0.000%) 空头头寸 $211.30M; 比率 20.457%，SINO LAND (00083.HK) -0.120 (-1.035%) 空头头寸 $21.51M; 比率 25.586%，AKESO (09926.HK) -2.800 (-3.035%) 空头头寸 $185.43M; 比率 12.529%，COSCO SHIP HOLD (01919.HK) -0.500 (-3.353%) 空头头寸 $83.94M; 比率 21.054%，TENCENT (00700.HK) +6.800 (+1.523%) 空头头寸 $2.93B; 比率 17.025%，BABA-W (09988.HK) -1.700 (-1.431%) 空头头寸 $1.21B; 比率 15.389%，UBTECH ROBOTICS (09880.HK) -1.000 (-0.850%) 空头头寸 $155.90M; 比率 12.688%，GOLDWIND (02208.HK) -0.070 (-0.599%) 空头头寸 $18.59M; 比率 5.259%，CATL (03750.HK) +8.000 (+1.171%) 空头头寸 $732.91M; 比率 40.138%，CCB (00939.HK) -0.070 (-0.799%) 空头头寸 $451.14M; 比率 21.004% 和 BANK OF CHINA (03988.HK) +0.030 (+0.560%) 空头头寸 $412.03M; 比率 21.151%。</p>
<p>（香港股票报价延迟至少 15 分钟。短线交易数据截至 2026 年 6 月 9 日 16:25。）</p>

信和置业

恒生指数

优必选

HUMN

盈富基金

安硕恒生指数

南方两倍看多恒指

南方一倍看空恒指

南方两倍看空恒指

<p>KGI 预测中国经济将在 2026 年下半年触底并稳定，重点转向高可见性。该公司推荐一种 “LEAD” 策略，强调流动性、收益、信用和多样化。主要投资主题包括技术创新（人工智能、机器人技术）和绿色能源，稳定的金融股作为防御性支撑。KGI 维持恒生指数目标为 30,000 点，并推荐如信和置业、腾讯、阿里巴巴和优必选等股票</p>

<p>In a macro environment where interest rates have peaked and correlations among traditional assets have broken down, investors can no longer rely on passively holding cash, James Wey, Head of International Wealth Management at KGI, stated. The firm therefore maintained its &#34;LEAD&#34; strategy, namely &#34;Liquidity Shift&#34;, &#34;Earnings Focused&#34;, &#34;Adding Credit&#34;, and &#34;Diversified Assets&#34;.</p>
<div class="lb-trans"><p>在利率已达到峰值且传统资产之间的相关性已破裂的宏观环境中，投资者不再能够依赖被动持有现金，KGI 国际财富管理部负责人 James Wey 表示。因此，该公司维持其 “LEAD” 策略，即 “流动性转移”、“以收益为中心”、“增加信贷” 和 “多元化资产”。</p>
</div><p>Cusson Leung, Chief Investment Officer of International Wealth Management at KGI, said that, looking ahead to 2H26, China economy is expected to bottom out and stabilize, with the focus shifting from &#34;high growth&#34; to &#34;high visibility&#34;. On the back of easing deflation and accommodative policies, he suggested capturing four major opportunities.</p>
<div class="lb-trans"><p>KGI 国际财富管理首席投资官 Cusson Leung 表示，展望 2026 年下半年，中国经济预计将触底并稳定，关注点将从 “高增长” 转向 “高可见性”。在通缩缓解和宽松政策的背景下，他建议抓住四个主要机会。</p>
</div><p>First, volatility triggered by trade negotiations presents long-term accumulation opportunities. Second, accelerate realization of AI dividends, favoring large-model leaders and robotics companies. Third, avoid the &#34;involution&#34; photovoltaic sector and instead position in wind power and leading lithium battery makers. Fourth, narrowing NIM pressure for large state-owned banks highlights their defensive and income-generating value. In summary, &#34;technological innovation&#34; and &#34;green energy&#34; should serve as dual growth engines, with &#34;stable financials&#34; as a defensive cornerstone to achieve steady gains amid market volatility.</p>
<div class="lb-trans"><p>首先，由贸易谈判引发的波动性提供了长期积累的机会。其次，加速实现人工智能红利，青睐大型模型领导者和机器人公司。第三，避免 “内卷” 的光伏行业，而是布局风能和领先的锂电池制造商。第四，大型国有银行的净息差压力收窄凸显了它们的防御性和收益生成价值。总之，“技术创新” 和 “绿色能源” 应作为双重增长引擎，而 “稳定的财务状况” 则作为防御性基石，以在市场波动中实现稳健收益。</p>
</div><p>KGI maintained its forecast of 30,000 points for the HSI, and recommended CHINAHONGQIAO (01378.HK) 0.000 (0.000%)  Short selling $211.30M; Ratio 20.457%  , SINO LAND (00083.HK) -0.120 (-1.035%)  Short selling $21.51M; Ratio 25.586%  , AKESO (09926.HK) -2.800 (-3.035%)  Short selling $185.43M; Ratio 12.529%  , COSCO SHIP HOLD (01919.HK) -0.500 (-3.353%)  Short selling $83.94M; Ratio 21.054%  , TENCENT (00700.HK) +6.800 (+1.523%)  Short selling $2.93B; Ratio 17.025%  , BABA-W (09988.HK) -1.700 (-1.431%)  Short selling $1.21B; Ratio 15.389%  , UBTECH ROBOTICS (09880.HK) -1.000 (-0.850%)  Short selling $155.90M; Ratio 12.688%  , GOLDWIND (02208.HK) -0.070 (-0.599%)  Short selling $18.59M; Ratio 5.259%  , CATL (03750.HK) +8.000 (+1.171%)  Short selling $732.91M; Ratio 40.138%  , CCB (00939.HK) -0.070 (-0.799%)  Short selling $451.14M; Ratio 21.004%  and BANK OF CHINA (03988.HK) +0.030 (+0.560%)  Short selling $412.03M; Ratio 21.151%  .</p>
<div class="lb-trans"><p>KGI 维持对恒生指数 30,000 点的预测，并推荐 CHINAHONGQIAO (01378.HK) 0.000 (0.000%) 空头头寸 $211.30M; 比率 20.457%，SINO LAND (00083.HK) -0.120 (-1.035%) 空头头寸 $21.51M; 比率 25.586%，AKESO (09926.HK) -2.800 (-3.035%) 空头头寸 $185.43M; 比率 12.529%，COSCO SHIP HOLD (01919.HK) -0.500 (-3.353%) 空头头寸 $83.94M; 比率 21.054%，TENCENT (00700.HK) +6.800 (+1.523%) 空头头寸 $2.93B; 比率 17.025%，BABA-W (09988.HK) -1.700 (-1.431%) 空头头寸 $1.21B; 比率 15.389%，UBTECH ROBOTICS (09880.HK) -1.000 (-0.850%) 空头头寸 $155.90M; 比率 12.688%，GOLDWIND (02208.HK) -0.070 (-0.599%) 空头头寸 $18.59M; 比率 5.259%，CATL (03750.HK) +8.000 (+1.171%) 空头头寸 $732.91M; 比率 40.138%，CCB (00939.HK) -0.070 (-0.799%) 空头头寸 $451.14M; 比率 21.004% 和 BANK OF CHINA (03988.HK) +0.030 (+0.560%) 空头头寸 $412.03M; 比率 21.151%。</p>
</div><p>(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-06-09 16:25.)</p>
<div class="lb-trans"><p>（香港股票报价延迟至少 15 分钟。短线交易数据截至 2026 年 6 月 9 日 16:25。）</p>
</div>

KGI Predicts CN Econ to Bottom Out and Stabilize in 2H26, Recommends SINO LAND, TENCENT, BABA-W, UBTECH ROBOTICS

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KGI 预测中国经济将在 2026 年下半年触底并趋于稳定，推荐信和置业、腾讯、阿里巴巴-W 和优必选