Chinese Insurers Turn Optimistic on Q4 A-Share Rebound, Favor Value and Defensive Sectors

Insurers are among the largest domestic institutional holders in China, so their stated appetite for value and defensive exposure is a sentiment signal as much as a positioning one. The emphasis on earnings certainty within tech growth suggests capital is rotating toward balance-sheet quality rather than abandoning growth altogether. Whether that tilt actually translates into fourth-quarter flows, or remains a talking point after the third-quarter pullback, is the open question.