UBS(US:UBS) Zheng Quan Shi Bao·2025-11-27 10:25Group 1: HIBOR Trends - The overnight Hong Kong Interbank Offered Rate (HIBOR) increased by 144 basis points to 3.37%, marking the largest single-day rise since December 2023 [1][3] - The one-month HIBOR, which is related to mortgage rates, has risen for six consecutive days, surpassing the 3% level to reach 3.24% [1][3] - Short-term rates saw significant increases, with the overnight rate rising to 3.36905% and the one-week rate increasing to 2.9125% [3] Group 2: Global Economic Outlook - UBS forecasts a 15% upside potential for global equities by the end of 2026, with a particular focus on Chinese technology stocks, expecting a 37% growth in corporate earnings [1][6] - The investment outlook for the Chinese stock market remains positive, with expectations of double-digit growth for the Hang Seng Index [1][6] Group 3: AI and Technology Sector - AI is expected to drive global stock markets, with capital expenditure on AI projected to reach $4.7 trillion by 2030, and current contracts totaling $2.4 trillion [5][6] - The financial health of leading AI companies is stronger compared to past tech bubbles, as they are investing in AI with free cash flow and have healthy balance sheets [5] Group 4: Investment Recommendations - UBS suggests diversifying investments into stable assets such as private equity funds, bonds, and hedge funds, while also recommending a minimum of 5% allocation to gold in investment portfolios [7] - The firm anticipates that gold prices could reach up to $4,900 per ounce during periods of significant economic volatility [7]