对话DWS全球研究主管：美股占比过高，中国欧洲或吸引更多资金

Core Insights - There is a noticeable shift in global capital flows, with increased interest in Chinese and European assets, suggesting a potential fundamental change in investment paradigms that have persisted for decades [2][3] - Despite this shift, U.S. markets remain attractive due to strong corporate profitability, innovation, and technology, indicating that some capital will continue to stay in the U.S. [2] - The U.S. stock market's dominance in the MSCI global index, accounting for 70%, is seen as excessive, prompting a gradual trend towards diversifying investments away from U.S. reliance [2] Investment Trends - The "Sputnik Moment" has highlighted the undervaluation of Chinese assets, leading to a re-evaluation of their worth in the global market [3] - Lower trading prices and declining interest rates in China have made stock investments more appealing, contributing to the resurgence of Chinese assets [3] - The recognition of China's vibrant and innovative tech sector is driving the re-assessment of Chinese asset values, with optimism for continued strong performance if corporate earnings improve [3]