宏利投资：看好欧元未来的上行潜力

Core Viewpoint - Manulife Investment indicates that the global landscape has changed, leading to adjustments in investment strategies for different regions in the second half of the year [1] Group 1: Investment Outlook - The company remains optimistic about the upward potential of the Euro, supported by the narrowing growth gap between the US and Europe, as well as many investors seeking alternatives to the US dollar [1] - For Eurozone equities, Manulife Investment holds a cautiously optimistic view due to structural improvements in the market outlook and attractive relative valuations [1] Group 2: Japan's Economic Situation - Japan's economic output gap has recently narrowed, but weak global demand may lead to a slowdown in growth by the second half of 2025 [1] - Wage growth is pushing inflation higher, and the Bank of Japan may raise interest rates in the second half of the year; however, government debt is suppressing long-term bond yields [1] - The appreciation of the yen may temporarily pressure the stock market, but improvements in corporate earnings and capital expenditures are expected to benefit long-term performance [1]