Standard Chartered Upgrades Tech and Communications, Downgrades Consumer Staples for H2 2026

According to Standard Chartered's H2 2026 market outlook released today, the bank maintains overweight on China's technology and communications sectors, driven by rising domestic chip self-sufficiency and AI commercialization. Healthcare was downgraded to neutral due to limited earnings visibility, while consumer staples was downgraded to underweight for similar reasons. Utilities was upgraded to neutral, supported by improving power demand and policy backing. Globally, Standard Chartered expects risk assets to continue benefiting from a soft-landing macroeconomic environment amid volatile energy prices and central bank policies.
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