对话贝莱德李薇：关税“大限”逼近，下半年资金怎么投？

Group 1: Market Overview - Global markets are optimistic despite uncertainties, with US stocks reaching historical highs and the Asia-Pacific markets, including China, maintaining upward momentum [1][3] - The weak dollar trend continues, influencing asset allocation strategies [1][5] Group 2: Investment Themes - BlackRock emphasizes three key investment themes: tactical perspectives to seize current opportunities, maintaining a positive risk appetite, and overweighting US stocks [4][6] - The US market is expected to outperform Europe due to stronger economic fundamentals, while the dollar's weakness may enhance the profitability of US tech giants [7][8] Group 3: European Market Analysis - European stock market performance lacks sustainable fundamental support, with historical patterns indicating that for Europe to consistently outperform the US, corporate earnings growth must exceed that of the US [9][10] - The recent fiscal stimulus in Germany has raised hopes for the European economy, but the overall sustainability of this growth remains in question [8][10] Group 4: China Market Outlook - BlackRock maintains a neutral stance on Chinese stocks, favoring selective exposure in technology and healthcare sectors due to regulatory easing and macroeconomic support [12] - The Hong Kong stock market has shown strong performance, with significant IPO activity, but long-term investment decisions will depend on solid fundamental support [12]