Brokerage Research: A-Share Correction Sufficiently Deep, Suggests Balanced Allocation

The notable signal here is that brokerage strategists are framing the correction as a positioning question rather than a macro one, with the overseas AI supply-chain earnings miss doing the work of resetting expectations. That matters for A-share investors whose recent returns have leaned on AI-linked names, since the call implicitly questions how much of the growth trade survives a weaker external read-through. The recommendation for balance between elastic and defensive assets is itself the tell: conviction is moderate, not directional. Whether funding conditions keep improving enough to validate the bottoming thesis is the open question.