Fed’s 25bp Hike Draws ‘Hawkish’ Read; Fund Houses Stay Bullish on A-Shares

The interesting tension here is that a hawkish Fed surprise is being absorbed by Chinese fund houses as a timing issue rather than a thesis-breaker, which implicitly leans on the belief that domestic policy can stay decoupled from U.S. rates. That decoupling claim is the real substance of the story: it affects A-share positioning far more than the hike itself. Whether the 'tech plus dividend' barbell holds up if global tightening persists — and whether foreign flows treat China as a genuine exception — is the open question.