JPMorgan: Positive outlook on China's stock market, prefers Tencent Holdings and others

2026-02-14 03:22:48

Abstract generation in progress

JPMorgan Chase has released a research report reaffirming its bullish options trading strategy on China’s consumer market before the Lunar New Year (February 15 to 23). During this period, the bank’s top picks are high-end liquor, quality proteins (new dairy products and black-haired Wagyu), major condiments, gold, and the tourism industry. Historical experience shows that RMB appreciation against the US dollar will boost Chinese stock market returns, with cyclical or growth stocks typically outperforming defensive stocks.

JPMorgan maintains a positive outlook on the Chinese stock market but believes stock selection needs to be more refined. The top picks are Tencent Holdings (00700), Lao Pao Gold (06181), MGM China (02282), TAL Education Group (TAL.US), Ctrip-S (09961, TCOM.US), Huitian Food Industry (603288) (03288, 603288.SH), Kweichow Moutai (600519) (600519.SH), Mengniu Dairy (02319), and Wuliangye (000858) (000858.SZ).

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