富达国际： AI已成企业盈利增长的关键驱动力 料该趋势将延续至2026年

Group 1 - AI has been a key driver of market performance, corporate earnings, and individual stock performance, with expectations for this trend to continue until 2026 [1] - In the Chinese market, there has been an improvement in shareholder equity returns, with AI model performance steadily increasing and R&D investment being a fraction of that in the U.S., suggesting better products and services at lower prices for consumers and businesses [1] - After years of volatility, the Chinese stock market is beginning to show positive earnings growth, with a strong correlation between stock market trends and earnings performance in the long term [1] Group 2 - Globalization is shifting towards regional influences, leading to more differentiated trends in key areas such as inflation [2] - By 2026, it is expected that central banks will likely adopt supportive policies, with a relatively loose fiscal environment in the U.S. and other regions, contributing to a more optimistic market outlook despite some high valuations [2] - Corporate earnings are anticipated to be strong in 2026, supported by policy measures and expectations of Federal Reserve interest rate cuts, which may lead to relatively positive returns [2]