美联储降息25个基点 中国资产大涨

Core Points - The Federal Reserve has lowered the federal funds rate target range by 25 basis points to 4.00%-4.25%, marking its first rate cut since December 2024 [1][2] - The Fed anticipates an additional 50 basis points cut by the end of the year, with further cuts of 25 basis points each year for the next two years [1][3] - Market reactions included a sharp initial rise followed by a decline in major U.S. stock indices, while Chinese stocks saw significant gains [4] Market Reactions - Following the Fed's decision, the Dow Jones increased by 0.54%, while the Nasdaq and S&P 500 saw declines of 0.33% and 0.1% respectively [4] - The Nasdaq China Golden Dragon Index surged by 2.85%, with notable gains in stocks like Baidu (up over 11%) and NIO (up over 6%) [4] - U.S. Treasury yields experienced volatility, with the two-year yield dropping from 3.54% to near 3.46% before rebounding [4] Commodity Market Impact - Gold prices initially reached a record high of $3704 per ounce before closing at $3658.89, reflecting a year-to-date increase of over 40% [5] - Silver prices also saw fluctuations, with a peak decline of over 3% before closing down 2.14% at $41.638 per ounce [5] Implications for A-shares and H-shares - Historical analysis indicates that A-shares and H-shares have often seen more declines than gains following Fed rate cuts, with the oil and petrochemical sector being an exception [6] - Analysts suggest that this rate cut cycle may differ from previous ones, potentially benefiting growth sectors in A-shares and H-shares [6][7] - Specific sectors such as AI computing, semiconductor, innovative pharmaceuticals, and certain metals are expected to perform well in the current environment [6][7]