2 1 Shi Ji Jing Ji Bao Dao·2025-10-13 15:39Core Viewpoint - The U.S. stock market experienced significant gains, with major indices rising sharply, while Chinese assets and precious metals like gold and silver reached new highs [1][3]. Market Performance - As of October 13, the Nasdaq Composite Index rose nearly 2%, while the Dow Jones and S&P 500 indices increased by over 1% [1]. - The Nasdaq China Golden Dragon Index surged over 3%, with notable gains in stocks such as NIO (over 7%), Alibaba (nearly 6%), and Baidu (nearly 5%) [3]. Sector Highlights - The semiconductor sector saw substantial increases, with Nvidia up 2.7%, Broadcom rising over 10%, and TSMC increasing by 7.6% [2]. - Gold prices surpassed $4,100 per ounce, marking a historical high of $4,103.90, with a year-to-date increase of $1,479, or over 56% [4]. Investment Strategies - Analysts suggest a defensive approach in U.S. and Chinese equities, focusing on defensive growth stocks, particularly in healthcare and high-yield non-bank H-shares in China [8]. - Recommendations include reducing long-term U.S. Treasury holdings and increasing inflation-protected securities due to rising inflation risks [8]. Safe-Haven Assets - Gold and silver are benefiting from increased inflows of safe-haven funds amid market volatility, with expectations for gold prices to remain elevated [10]. - Analysts maintain a positive tactical outlook on gold as a hedge against trade uncertainties, with technical support around $4,000 per ounce [10]. Chinese Market Outlook - Despite trade tensions, the Chinese stock market is expected to adapt, supported by policy expectations, potential capital inflows, and advancements in artificial intelligence applications [10].