特朗普政策波动下，机构策略转向：看好非美股市与能源股等

Group 1: Global Economic Trends - The actions of President Trump are disrupting the previously maintained global order in economics, trade, and security, prompting allies to take action [1] - Financial markets are responding positively, with investors increasing investments in non-US stock markets and energy stocks, as well as showing optimism towards currencies like the Euro and Canadian Dollar [1] - The trend of "American exceptionalism" is fading, with major stock markets and emerging markets expected to achieve double-digit profit growth by 2026 [2] Group 2: European Market Developments - Over 73% of companies in the European Stoxx 600 index that reported Q4 earnings exceeded expectations, compared to 54% in the same period last year [2] - The FTSE 100 index in London has surpassed the 10,000-point mark, rising 5% this year, significantly outperforming the S&P 500's 1.4% increase [2] - A €600 million European strategic autonomy fund launched by BNP Paribas is focused on defense, industrial resilience, resource independence, and technology, driven by large-scale investment plans in Europe [2] Group 3: Defense and Energy Sector Insights - Defense stocks have surged by 200% since February 2022, highlighting their status as winners amid geopolitical tensions [5] - European energy stocks are nearing their highest levels since 2008, driven by increased focus on critical resources and infrastructure development [5] - The European Union is considering a "European manufacturing" strategy to protect domestic industries, although opinions among member states vary [8] Group 4: Currency Movements - The G10 currencies have shown significant appreciation against the US dollar since Trump announced tariffs, with the Swiss Franc up by 14.8% and the Euro by 9.6% [10]