CSC Financial Recommends Raising Allocation to Quality State-Owned Enterprises in Coal, Power, Real Estate, Banks in Q4

The call is a valuation-gap trade rather than a growth thesis: CSC is flagging the divergence between a crowded tech rally and beaten-down traditional sectors as the setup, with policy-driven consolidation and anti-involution efforts as the catalysts. If that framing gains traction, the flow question shifts toward whether state-linked names in coal, power, property and banks can attract incremental allocation at the expense of momentum sectors. The open question is whether these turnaround narratives convert into earnings or remain a rotation story.