CICC released a research report saying that since July, the AI industry chain has led the global stock market correction, and the market's differences over the bull market have increased. The global stock market rose strongly in the first half of 2026, but since July, the AI industry chain has led a resounding correction in the global stock market, and there has been a marked increase in market questions about the continuation of the bull market. We believe that the essence of this round of correction is the three major variables of AI industry trends, dollar liquidity, and the Chinese economy. From the previous relatively positive “triple support” phased to “triple restraint” that was unfavorable to the market, the market began to re-test previous optimistic assumptions. In this report, we will focus on analyzing the future direction of the “triple constraint” and the outlook for the market, and present strategies to deal with it during the market verification period.

CICC released a research report saying that since July, the AI industry chain has led the global stock market correction, and the market's differences over the bull market have increased. The global stock market rose strongly in the first half of 2026, but since July, the AI industry chain has led a resounding correction in the global stock market, and there has been a marked increase in market questions about the continuation of the bull market. We believe that the essence of this round of correction is the three major variables of AI industry trends, dollar liquidity, and the Chinese economy. From the previous relatively positive “triple support” phased to “triple restraint” that was unfavorable to the market, the market began to re-test previous optimistic assumptions. In this report, we will focus on analyzing the future direction of the “triple constraint” and the outlook for the market, and present strategies to deal with it during the market verification period.