Goldman Sachs The firm stated that it expects the MSCI China Index and the CSI 300 Index to rise by approximately 20% and 12%, respectively, this year, and that it will maintain its overweight stance on A-shares and H-shares within the Asian market. Goldman Sachs believes that stock market returns in 2026 will be driven primarily by improving corporate earnings.Supported by the development of artificial intelligence, corporate expansion overseas, and policies aimed at reducing internal competition, profit growth is expected to rise from 4% in 2025 to approximately 14% in 2026–2027. Meanwhile, net inflows of southbound capital are projected to reach $200 billion, potentially setting a new record high.In terms of sector allocation, Goldman Sachs. remains bullish on AI-related themes, favors service-oriented consumption within the consumer sector, and focuses on the materials sector within cyclical industries, while maintaining an overweight stance on the insurance sector.