后市怎么投？最新研判来了

Core Viewpoint - The A-share market is expected to experience a structural upward trend in the second half of 2025, driven by economic recovery and policy support, with a focus on sectors like AI, high-end manufacturing, and innovative pharmaceuticals [1][15][20]. Market Outlook - The overall market is anticipated to continue favoring undervalued domestic equity assets with higher certainty, while also emphasizing the hedging value of gold against market volatility [4][17]. - Domestic economic indicators show a positive trend, with credit cycles in the early stages of recovery, contrasting with developed countries facing peak credit cycles [6][16]. - A-shares are seen as having better cost-performance ratios, making them suitable for medium to long-term investments [8][20]. Investment Strategies - Investment strategies should focus on structural opportunities in the stock market, particularly in technology growth and consumer sectors, while maintaining a balanced approach to equity and bond allocations [12][21]. - The preference for growth-oriented assets is highlighted, with an emphasis on actively managed equity funds that can capitalize on emerging trends [24][25]. - Gold is recommended for its dual role as a hedge against geopolitical risks and inflation, with expectations of continued price appreciation [27][28]. Asset Allocation - The allocation strategy should include a mix of high-quality growth stocks, dividend-paying blue-chip stocks, and value-oriented funds, with a focus on sectors benefiting from policy support [22][24]. - Fixed-income investments should prioritize high-grade credit bonds, while maintaining a core position in pure bond funds to stabilize portfolio volatility [26][30]. - The overall asset allocation should remain flexible to adapt to changing market conditions, with a focus on risk management and dynamic rebalancing [30][31]. Global Economic Factors - Global economic uncertainties, particularly related to U.S. trade policies and geopolitical tensions, are expected to influence market dynamics and investment strategies [29][30]. - The potential for U.S. interest rate cuts and ongoing geopolitical conflicts may create volatility in commodity prices, particularly in oil and gold [28][30].