Recently, in this newspaper (journalist chang-yu), morgan asset management published global market prospects 2026 (hereinafter referred to as the “report”), which provides an in-depth analysis of the outlook for china and the global economy, as well as of topical topics of general interest to investors. According to the report, as we enter 2026, investors are at a crossroads of complexity and opportunity:Artificial intelligenceThe wave of science and technology driven continues to breathe life into growth, while fluctuations in global trade and geopolitical patterns add to the road ahead. In this environment, the opportunity to pursue a single market or asset alone is insufficient, and building a balanced portfolio with a global perspective and a critical investment discipline is becoming key to capturing certainty in uncertainty。
Looking ahead to the global economy in 2026, morgan asset management believes that there may be a “first-to-first-to-first” growth stance and that different economies will be playing their own “story lines”. As china moves into the beginning of the “155” plan, new growth dynamics are breeding as it pushes forward with the “anti-infiltration” and industrial upgrading; the pace of its monetary policy transition becomes a key variable after the us’s fiscal stimulus has recededed, with growth or a moderate slowdown; europe needs a careful trade-off between fiscal expansion and debt discipline; and asia’s emerging markets will embrace unique development opportunities with deep embedded in global artificial intelligence supply chains。
This pattern of regional fragmentation means that future investment returns will depend more on a deep understanding of global growth differences and policy tempo, as well as on flexibility across markets. Global capacity is critical in this process. Through its global research network, morgan asset management works with local insights and in close collaboration with leading financial institutions and research institutions to identify high-quality businesses with long-term growth potential and reasonable valuation through in-depth industry and corporate analysis, such as ai, which can transform technology into real business value, or traditional industry champions that can improve profitability through digital transformation, which is a central manifestation of its global configuration and proactive management capacity。
The report also provides an analysis of topical issues of market concern. With regard to chinese equity assets, positive factors in 2025 may continue in 2026, with the market being dominated by structural conditions. Consistency of profits in the subsector is expected to lead to faster profit growth in sectors such as science and technology, industry, communications services, raw materials, etc. The plate configurations associated with technological growth can focus on semiconductors, power chains, consumer electronics, robotics, new energy sources, non-ferrous metals and innovative medicines. Against the backdrop of persistent macro-uncertainty, investment discipline is also needed to manage volatility risk using high dividends strategies。
The report argues that the rapid development of artificial intelligence applications is driving a significant increase in spending on software, hardware and cloud resources and, while creating opportunities for technology providers, raises concerns about infrastructure bottlenecks and rising costs. Artificial intelligence may destabilize traditional business models, while the emergence of physical artificial intelligence (such as auto-driving cars and robots) further increases the impact of this technology. Not all artificial intelligence models and super-massive cloud service providers emerge, and investors need to identify more promising targets。
