A comparison of the Chinese and US stock markets reveals both similarities and differences in sector performance since 2026. In both markets, high-performing stocks are concentrated in sectors such as semiconductors, oil and petrochemicals, non-ferrous metals, and hardware equipment. Conversely, sectors like consumer goods, retail, and finance have fewer top-gaining stocks.

Key differences emerge in sector emphasis. In the Chinese market, high-performing stocks are more prevalent in chemicals, electrical equipment, utilities, and software, whereas these sectors show fewer top performers in the US market. Additionally, sectors like real estate and non-bank financials have underperformed in China compared to their US counterparts.

In the oil and petrochemical sector, the US market has a larger number of high-gaining stocks, with diverse focuses, while Chinese stocks are more concentrated in equipment and services. For non-ferrous metals, both markets show strength in precious metals, copper, and aluminum, with Chinese stocks also excelling in tungsten, gallium, germanium, and rare earth elements.

In hardware equipment and semiconductors, both markets display similarities in sub-sectors such as memory chips, optical communication, and PCBs. The chemicals, electrical equipment, and utilities sectors are stronger in China, reflecting the country's manufacturing advantages.

In software, China has more top-performing stocks, particularly in infrastructure-related areas, while both markets show limited gains in application software.

Investors should consider risks such as overseas economic recession, fluctuating Federal Reserve policies, uncertainties in tariff policies, exchange rate volatility, escalating geopolitical conflicts, and potential underperformance of certain companies.