November 20, 2025 09:00 PM GMT China Equity Strategy | Asia Pacific A-Share Sentiment Fell Amid Muted Economic Data Market sentiment weakened toward year-end on lower risk appetite and recent muted economic data. We view 2026 as a year of stabilization after 2025's high returns. Index upside is modest with moderate EPS growth and valuation settling at a higher regime. A-share investor sentiment dropped vs. previous cycle: Weighted MSASI decreased by 8% to 51% vs. the prior cut-off date (November 12), and we ...