午后突发，亚太市场全线跳水

Core Viewpoint - Global stock markets have experienced a sudden downturn, influenced by three main factors: a strengthening US dollar, a decline in high-flying assets, and ongoing uncertainties in trade disputes [1][8]. Group 1: Market Performance - Japanese stock market turned negative with the Nikkei index dropping over 1% [3]. - South Korean KOSPI index fell more than 2%, with a notable 5.3% drop following a significant rise of nearly 11% the previous day [5]. - Australian stock index closed down nearly 1%, showing a breakdown in its downward trend [5]. - Hong Kong and A-share markets also saw increased declines in the afternoon session [1][5]. Group 2: Influencing Factors - The US dollar index has been strengthening, reaching around the 100 mark, which has pressured equity valuations and high commodity prices [8]. - Recent declines in popular assets, including gold and cryptocurrencies, have intensified profit-taking pressures in the stock market [8]. - Despite signs of easing in global trade disputes, uncertainties remain, particularly as major markets are at historical highs, leading to increased selling pressure [8]. Group 3: Future Outlook - Short-term volatility is expected due to year-end settlement pressures, but structural opportunities in the market remain [9]. - Data from Shenwan Hongyuan indicates that the ERP percentile for all A-shares has risen significantly, suggesting better valuation prospects compared to global peers [9]. - The absolute valuation levels of the Shanghai Composite Index, CSI 300, and Hang Seng Index remain lower than US stocks, indicating potential investment value in the Chinese market [9].