Institutions See A-shares Uptrend Continuing as Fundamentals Recover

The framing here matters more than the call itself: institutions are treating a Fed hike as a variable to be absorbed rather than a regime change, which is a notably different posture from prior tightening episodes. That view rests on domestic fundamentals doing the heavy lifting, so the recovery data — not the Fed — is the real load-bearing assumption. The AI supply chain is presented as a separate, longer-duration narrative that can run alongside macro noise. Whether earnings actually validate that recovery, and whether the AI theme keeps drawing flows independently of rate moves, is the open question.