Weekly Market Commentary

CHINA’S EQUITY MARKET DIVERGES: A-SHARES VS. H-SHARES

Kristian Kerr, Head of Macro Strategy, LPL Financial

Chinese equities have been a major focus for investors in recent months, with catalysts ranging from DeepSeek’s artificial intelligence (AI) advancements to tariffs and trade negotiations. However, the performance of Chinese equities has varied significantly depending on the particular equity market in question. Unlike many other global equity markets, China’s stock market is divided into distinct segments, each with unique characteristics and investor access. Understanding these differences is crucial to assessing how Chinese equities have responded to recent events and what is in store for them and emerging market equities more broadly moving forward.

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