渣打：看好亚洲经济蓬勃发展，建议超配股票和黄金

Group 1 - Standard Chartered Bank's Wealth Solutions Department released the "2026 Global Market Outlook," suggesting that risk assets are expected to perform well due to easing global trade tensions, expansionary fiscal and monetary policies, and the growth of artificial intelligence [1] - The bank recommends investors to overweight stocks and gold in their core investment portfolios, with a focus on technology, healthcare, and telecommunications sectors in China [1] - The general manager of Standard Chartered (China) emphasized that the global market is at a critical turning point, with geopolitical conflicts and discussions around AI bubbles gaining attention [1] Group 2 - In terms of bonds, Standard Chartered recommends overweighting emerging market USD government bonds and local currency government bonds, benefiting from moderate inflation and a dovish monetary policy stance [2] - For developed market bonds, the bank suggests underweighting investment-grade and high-yield corporate bonds, while favoring 5 to 7-year bonds for their attractive balance between higher yields and managing fiscal and inflation risks [2] - In equities, Standard Chartered continues to favor global stocks, particularly in the US and Asia (excluding Japan), citing strong earnings growth and reduced geopolitical risks as supportive factors [2] Group 3 - In the foreign exchange market, Standard Chartered expects the US dollar index to peak around 100.5 in the next three months, with short-term support from cautious Fed policies and geopolitical risks [3] - The bank maintains an overweight position in gold, with target prices of $4,350 and $4,800 per ounce for the next three and twelve months, respectively, driven by ongoing demand from emerging market central banks [3] - For oil, Standard Chartered anticipates New York crude oil futures to remain around $61 and $60 per barrel in the next three and twelve months, respectively, with supply surplus limiting potential price rebounds from geopolitical risks [3]