More from RBC WM , this time on China:

  • believes Chinese equities likely to be largely range-bound in the second half of 2025

See two major performance drivers:

  • US-China trade negotiations
  • and corporate earnings

RBC says the worst-case scenario on trade has been avoided but expect further volatility on news on further trade negotiations.

More:

  • RBC monitoring signs of fundamental recovery
  • US tariff impacts starting to materialise
  • investors will pay attention to earnings resilience and whether the earnings per share (EPS) recovery can support further valuation expansion
  • anticipates that additional government reforms, such as greater market access, industrial policy changes, and policy stimulus, could potentially provide upside surprises for the market
China panda US eagle negotiating
Source: Forex Live