Hua Er Jie Jian Wen·2025-09-07 02:44Group 1 - The market sentiment among global institutional investors is showing a clear split, with bullish investors chasing AI-driven tech stocks while bearish investors are increasingly wary of economic slowdown and market concentration risks [1][2] - A strong consensus has emerged that regardless of bullish or bearish views, going long on gold has become a common choice among all investors, with a ratio of nearly 8 to 1 favoring bullish positions on gold [3] Group 2 - The survey of 804 institutional investors indicates that while overall risk sentiment has improved, two distinct camps have formed: the bullish camp remains optimistic about U.S. stocks, particularly the "Magnificent 7," while the bearish camp is concerned about the potential for a more severe economic slowdown and concentration risks in large tech stocks [2] - Interest in the Chinese market is on the rise, with 62% of respondents planning to maintain or increase their positions in Chinese stocks, reflecting a rebound in market attractiveness after a strong summer [4] - The consensus on the U.S. dollar has shifted again, with a renewed inclination to short the dollar, although there is no clear agreement among investors on the key factors driving the dollar's performance for the remainder of the year [4]