CITIC Securities Says August Market Recovery Likely After Oil Shock Impact

According to CITIC Securities, on July 26, the institution released a report stating that the current Middle East oil shock differs fundamentally from previous patterns due to depleted buffers, meaning the market is unlikely to repeat second-quarter trading dynamics. While near-term market sentiment has become extremely pessimistic and the process of reducing risk exposure is nearing completion, the probability of widespread market recovery in August is high, the report said.
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