利好来了！外资机构：唱多！

Group 1 - UBS has upgraded its global stock rating to "attractive" due to stronger-than-expected economic growth, easing tariff pressures, and a robust investment cycle driven by artificial intelligence [1][4][5] - The firm has specifically raised the rating for Chinese technology stocks to the most attractive category, citing increasing confidence in the ability of leading Chinese tech companies to monetize artificial intelligence [2][8] - UBS has adjusted its global earnings growth forecast for 2025 from 6.5% to 8%, anticipating high single-digit growth for the next year, supported by favorable economic conditions and expected interest rate cuts from the Federal Reserve [6][8] Group 2 - UBS highlighted that structural trends remain solid, with strategic collaborations among AI-leading companies enhancing confidence in sustainable capital expenditure cycles and higher revenue visibility over the next 6-12 months [5][6] - The firm noted that significant collaborations between large enterprises and AI chip companies have bolstered expectations for AI-related capital expenditures to exceed forecasts and maintain long-term resilience [5][6] - UBS emphasized that the financial environment is improving, with increased liquidity and a renewed interest from global investors in diversifying their portfolios, which is likely to drive more capital into emerging market assets [6][9] Group 3 - Recent data shows a rebound in foreign capital inflows into the Chinese stock market, with net inflows reaching $4.6 billion in September, the highest monthly figure since November 2024 [8][9] - UBS has raised the target for the MSCI Emerging Markets Index to 1470 points by June 2026, based on improved corporate earnings expectations [8] - Investor sentiment towards Chinese stocks is increasingly optimistic, with over 61% of global institutional investors believing that emerging market stocks will outperform developed markets, up from 49% in June [9]