瑞银报告唱多！中国科技股获“最具吸引力”评级

Group 1 - UBS Wealth Management raised the global stock rating to "attractive" and specifically upgraded Chinese tech stocks to "most attractive," citing stronger-than-expected economic growth, easing tariff pressures, and a robust investment cycle driven by artificial intelligence (AI) [1] - The report emphasizes that structural trends remain solid, particularly due to breakthroughs in the AI sector, with significant collaborations between major companies and AI chip firms enhancing confidence in sustainable capital expenditure cycles and higher revenue visibility [2] - UBS analysts increased the 2025 global profit growth forecast from 6.5% to 8%, supported by the Federal Reserve's resumption of interest rate cuts, which are expected to bolster the stock market in a non-recession environment [2] Group 2 - Chinese tech stocks emerged as a highlight in the rating adjustment, with UBS maintaining technology as its "global preferred sector" and expressing growing confidence in the ability of Chinese tech leaders to monetize AI [4] - Recent data indicates a trend of foreign capital inflow into the Chinese stock market, with Morgan Stanley reporting a net inflow of $4.6 billion in September, the highest monthly figure since November 2024 [4] - HSBC's latest survey shows that global institutional investors are increasingly optimistic about emerging markets, with over half of respondents favoring the Chinese stock market, reflecting confidence in China's economic stimulus policies [4] Group 3 - Despite short-term fluctuations in the A-share market, many institutions believe this is merely a temporary adjustment, with the "China manufacturing" advantage remaining a key support for the market [5] - UBS expresses confidence that the risk balance in the stock market will remain favorable over the next 6 to 12 months, driven by improved global and local liquidity, a favorable financial environment, and ongoing low allocation by global investors [5]