Daiwa has released a research report stating that despite recent market fluctuations, it maintains an optimistic outlook for Chinese equities in the first half of 2026, with the stimulus policy season potentially extending through April. While the possibility of large-scale stimulus remains low, the introduction of gradual supportive measures coupled with strong policy assurances is expected to boost investor sentiment in the near term, benefiting top picks such as China Resources Land (01109) and Midea Group (000333.SZ). Due to robust downstream demand driving expectations of price increases, the firm has added Laopu Gold (06181) and Kingsoft Cloud (03896) to its list of preferred stocks.