Morgan Stanley-China Equity Strategy A-Share Sentiment Fell Amid 2Q Result...-109877147(1)

MUpdateChinaEquityStrategy|AsiaPacificA-ShareSentimentFellAmid2QResultsSeasonMorganStanleyAsiaLimited+LauraWangEquityStrategistLaura.Wang@morganstanley.com+8522848-6853ChloeLiuEquityStrategistChloe.Liu1@morganstanley.com+8522848-5497CatherineChenEquityStrategistCatherine.Chen@morganstanley.com+8523963-4186Exhibit1:MSA-shareSentimentIndicator(MSASI):33%(weighted),down3pptvs.Aug715002000250030003500400045005000550060000%10%20%30%40%50%60%70%80%90%100%Jan-14Jun-14Nov-14Apr-15Sep-15Feb-16Jul-16Dec-16May-17Oct-17Mar-18Aug-18Jan-19Jun-19Nov-19Apr-20Sep-20Feb-21Jul-21Dec-21May-22Oct-22Mar-23Aug-23Jan-24Jun-24Nov-24MSASI(Simple)MSASI(Weighted)MSASI(Simple)CurrentMSASI(Weighted)CurrentCSI300(RHS)75%20%=33%28%Source:CEIC,Bloomberg,Wind,RIMES,MorganStanleyResearch.DataasofAugust14,2024.Exhibit2:MSASItrajectorysinceJanuary1,20192,8003,2003,6004,0004,4004,8005,2005,6006,0000%10%20%30%40%50%60%70%80%90%100%Dec-18Feb-19Apr-19Jun-19Aug-19Oct-19Dec-19Feb-20Apr-20Jun-20Aug-20Oct-20Dec-20Feb-21Apr-21Jun-21Aug-21Oct-21Dec-21Feb-22Apr-22Jun-22Aug-22Oct-22Dec-22Feb-23Apr-23Jun-23Aug-23Oct-23Dec-23Feb-24Apr-24Jun-24Aug-24Oct-24MSASI(Simple)MSASI(Weighted)MSASI(Simple)CurrentMSASI(Weighted)CurrentCSI300(RHS)28%33%MSASIwaslaunchedon11March,2019Source:CEIC,Bloomberg,Wind,RIMES,MorganStanleyResearch.DataasofAugust14,2024.Marketsentimen...