00:00Some risks out there on the radar and perhaps, you know, what does it mean for this rally, right?
00:04Take a look at how it is we gear up for Golden Week as new Bloomberg survey finds that money managers expect the momentum for stocks to actually taper and fade by year end.
00:13When it comes to CSI 300, they're expected to end this year at around 4,675.
00:19We're at 4,636 right now.
00:22So we're just talking about, I mean, a few percentage points really here.
00:26Let's bring our Asia Accurates reporter, Byun Song.
00:28She joins us here in our studios to walk us through what stood out to you in this survey.
00:32Yeah, so the survey really shows that they're not expecting this strong rally we are seeing right now going to continue.
00:39So according to the 21 respondents to our survey, those are the money managers and analysts,
00:45they are expecting the CSI 300 to only gain about 1% by the end of this year and only about 5.5% by the middle of 2026.
00:55And for HSI, the Huntsman Index, it's a similar story too, only about 2% by the end of this year.
01:02Were the results surprising? How do we interpret this?
01:05I think it is surprising considering the strong momentum we are seeing right now.
01:10And there are also a lot of events coming up for the next three months, right?
01:13With the golden week consumption and also the Trump sheet meeting at the AIPAC and also the five-year plan.
01:22So this probably means that there are still a lot of caution on the market right now.
01:27And according to the survey results, we indeed see that those lack of a strong policy stimulus
01:33and also a lot more trade uncertainties are the biggest risk for the market.
01:38Yeah, we're just showing that the catalyst here, right?
01:40Whether it's foreign inflows, policy boosts, AI breakthroughs and the like.
01:44I want to get to the policy boost side of things because when it comes to this upcoming five-year plan,
01:49a lot of money managers have different expectations of what could come out of it
01:52and what parts of the market could benefit.
01:53What did you hear on that front?
01:55Yeah, actually more than half of them are expecting AI and chip sectors
02:00to get the biggest boost from this five-year plan.
02:02And following with a few other sectors, including infrastructure, new energy vehicles,
02:07consumptions and also real estate.
02:09But also it's really interesting that a lot of them are seeing AI sector is very crowded now.
02:15And according to one of the analysts I talked to,
02:17he says that now the market wants to see more real cash flows and not only about announcements.
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