美联储降息引爆A股，外资悄然抢筹四大黄金赛道

Group 1 - The core point of the article is that the recent interest from foreign capital in the A-share market is driven by the Federal Reserve's interest rate cut, which has opened up new investment opportunities in China [1][3] - The Federal Reserve officially lowered the federal funds rate target range by 25 basis points to 3.5%-3.75% on December 10, 2025, in response to rising unemployment and signs of easing inflation [3] - The A-share market is currently seen as attractive due to its lower valuation compared to the US market, with a price-to-earnings ratio approximately 30% lower than that of US stocks [3] Group 2 - Foreign capital inflow into the Chinese stock market reached $50.6 billion in the first ten months of 2025, marking a new high in four years and more than tripling the total for 2024 [4] - As of the end of Q3 2025, northbound funds held a market value of A-shares amounting to 2.58 trillion yuan, with a cumulative increase of over 340 billion yuan in the first three quarters [4] - In September 2025, net inflow of northbound funds was $4.6 billion, the highest level since November 2024, indicating a growing confidence among foreign investors [4] Group 3 - The high-end manufacturing sector is a primary focus for foreign investment, supported by government policies aimed at promoting equipment upgrades and reducing financing costs [5] - In Q3 2025, foreign capital increased its holdings in the electronic industry by 1.82 billion shares, with a market value increase of 161.3 billion yuan, making it the most favored sector [5] - The Ministry of Industry and Information Technology plans to initiate a world-class advanced manufacturing cluster cultivation project by the end of 2024, further boosting foreign interest in this sector [5] Group 4 - The digital technology sector is another key area for foreign investment, driven by strong government support for digital economy initiatives [6] - In Q3 2025, foreign capital showed significant activity in the digital technology field, with substantial investments in semiconductor and communication sectors [7] - Northbound funds held a market value of 443.8 billion yuan in power equipment and 391.5 billion yuan in electronics, indicating a strong focus on technology-related industries [7] Group 5 - Satellite communication has emerged as a new investment focus for foreign capital, supported by government policies promoting the development of low-orbit satellite internet [8] - The Ministry of Industry and Information Technology has encouraged private enterprises to participate in the satellite communication industry, expanding application scenarios and investment opportunities [8] Group 6 - The consumer and pharmaceutical sectors are also attracting foreign investment due to their essential nature and government support for consumption upgrades [9] - The 2025 consumption upgrade policy includes subsidies for various household appliances, which is expected to stimulate market demand and attract foreign capital [9] - As of the end of Q3 2025, northbound funds held a market value of 183.9 billion yuan in the pharmaceutical and biotechnology sector, reflecting strong interest in stable demand and innovation [9]