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摩根士丹利:美国投资者对中国市场热情达到三年新高
Xin Lang Cai Jing·2025-09-11 11:09

Group 1 - The core viewpoint is that U.S. investors' interest in the Chinese market has reached its highest level since 2021, driven by strong performance of Chinese stocks listed in the U.S. [1] - As of September 9, the Nasdaq Golden Dragon China Index rose by 1.5% to 8230.86 points, marking a six-month high, with Alibaba's stock price increasing by 4.18% and a year-to-date gain of nearly 75% [1] - Over 90% of investors surveyed by Morgan Stanley expressed intentions to increase their exposure to the Chinese market, the highest percentage since early 2021, indicating a significant boost in confidence [1] Group 2 - The improvement in liquidity conditions supports investors' willingness to engage with the market, with interest expanding beyond internet and ADR sectors to include Hong Kong and onshore A-shares, focusing on areas like AI, semiconductors, robotics, and new consumption [2] - Citigroup's latest report forecasts the Hang Seng Index to reach 26,800 points by the end of 2025, with further increases expected in 2026, highlighting that H-shares will benefit more directly from the Federal Reserve's interest rate cuts [2] - The focus of China's 14th Five-Year Plan (2026-2030) will revolve around economic development, technological innovation, social welfare, green development, and reform, with key industries attracting investor attention including AI, data centers, semiconductors, tourism, healthcare, insurance, and renewable energy [2]