China Weekly Kickstart: Equity Market Divergence and Macro Policy Analysis - June 2026

Key Takeaways

• 1.A-shares outperformed H-shares this week, with the latter losing 3% amid a tech sector divide.
• 2.Chinese financial regulators signaled a transition toward price-based monetary policy and rule-based capital account opening at the Lujiazui Forum.
• 3.May macro data for fixed asset investment (-10.6% yoy) and retail sales (-0.6% yoy) missed market expectations.

Table of Contents

• Performance
• Earnings and valuations
• Flows
• Key reports
• Policies and news
• Charts of the Week: Market Performance
• Charts of the week: Proprietary Models and Barometers
• Goldman Sachs' China strategy and economic view at a glance
• Macro indicators summary
• Performance snapshot: Global markets, commodities, FX and rates
• Weekly performance summary
• Weekly top and bottom performers in MSCI China
• Sector performance
• Relative performance of offshore China sectors
• Relative performance of onshore China sectors
• Earnings momentum and revisions
• China valuations
• Sector valuations
• Regional valuations
• Stock Connect weekly flows
• Style investing monitor (China Offshore)
• Style investing monitor (China Onshore)
• China specific baskets performance
• A/H premium and A-shares liquidity
• Breakdown of the Chinese alphabet soup

Report data

MSCI China Market Corrections

Reports in this series

China Weekly Kickstart is shown in chronological order through this edition, published on June 19, 2026.

Part of the China Weekly Kickstart series — view all 16 editions

Looking for the latest edition? China Weekly Kickstart MXCN gained 1 while A shares lost 1 (Oct 10, 2026)

1. May 11China Weekly Kickstart Markets gained 1-3
2. May 26China Weekly Kickstart China indexes flat to down 2 wow
3. Jun 6China Weekly Kickstart MXCN flat while A-shares lost 1.5. We moderated our view on MXCN to MW but stay OW A shares