科技行业 | 行业追踪 全球智能手机 1Q24 出货量增速超预期， 沈岱 浦 略微上调 2024 年智能手机出货量预测 首席科技分析师 银 tony_shen@spdbi.com 国 (852) 2808 6435 际 全球智能手机 1Q24 出货量略优于我们此前预期，略微上调 2024 马智焱 年出货量增速预期至 4.9%。根据 IDC 最新公布的数据，1Q24 全 科技分析师 球智能手机出货量 3.0 亿部，环比下降7%，同比增长12%。今年 ivy_ma@spdbi.com (852) 2809 0300 一季度出货量同比增速较去年四季度的 8%继续上扬，超出我们 此前预测。其中，中东非的一季度出货量同比增长30%，增长非 黄佳琦 行 常强劲，这是传音一季度智能手机出货量增长动能之一。拉美地 科技分析师 业 区出货量也表现亮眼，同比增长 23%。印度、亚洲其他地区、欧 sia_huang@spdbi.com 追 洲等三个地区的出货量都增长强劲，实现了两位数的同比增长。 (852) 2809 0355 踪 北美地区出货量同比增速开始走弱，同比下降 4%。 2024年5月20日 因为全球智能手机一季度较强劲 ...

Market Trends - Developed markets experienced a net outflow of $13.4 billion from April 4 to May 1, while emerging markets saw a smaller net outflow of $1.7 billion[10] - Emerging market stocks outperformed developed markets by 2% during the same period[10] - Global funds are expected to shift from developed markets to emerging markets, particularly those with lower valuations and improving earnings expectations[10] China Market Insights - Foreign capital continued to flow out of the Chinese stock market, with a net outflow of $3.8 billion from April 4 to May 1, compared to a net outflow of $1.4 billion in the same period last year[33] - However, the pace of foreign capital outflow has significantly decreased, indicating potential signs of capital returning to the Chinese market, especially in Hong Kong stocks[33] - Domestic capital recorded a net inflow of $3.17 billion in April, providing short-term support to the A-share market[24] Investment Preferences - Northbound funds recorded a net inflow of RMB 6 billion in April, down from RMB 22 billion in March, with a daily trading volume share of 15.4% in A-shares[51] - Southbound funds maintained strong inflows of HKD 80.4 billion in April, with a trading volume share of 16.6% in Hong Kong stocks[35] - Northbound funds favored defensive sectors such as banks and consumer staples, while also increasing positions in gold-related stocks[47]