MSCI：2026年市场主线将更集中于AI趋势的深化

Core Viewpoint - Despite increased pressure on the institutional foundations supporting global markets, investors are expected to encounter a continued growth and innovation investment environment by 2026 [1] Group 1: Market Trends - The market focus in 2026 will be more on the deepening of existing AI trends rather than new themes [1] - The stability of institutional frameworks, the ability of AI-related investments to maintain growth, and the resilience of private credit structures will all influence market dynamics [1] Group 2: Economic and Political Context - Early 2025 will see political and macroeconomic shocks, including the unprecedented "triple shock" of U.S. stocks, bonds, and the dollar, highlighting market uncertainties [1] - Despite these uncertainties, a rebound in the market is anticipated in the latter part of the year due to the accelerated development of artificial intelligence [1] Group 3: Industry Dependencies - The rapid expansion of AI underscores the industry's high dependence on stable power supply, grid capacity, and global data center infrastructure [1] - The report indicates that while U.S. exceptionalism continues to dominate global markets, events like the DeepSeek impact and policy changes in April demonstrate that the U.S. leadership can be quickly challenged [1]