全球大跌：怎么看，怎么办？

Group 1 - The report highlights that global stock markets experienced significant turbulence on August 5, 2024, with the Nikkei 225 index dropping by 12.4% and the Korean Composite Index falling by 8.8% [12][13] - The report identifies three main reasons for the market adjustments: high valuations due to substantial gains since the beginning of the year, concerns over the U.S. economy's ability to achieve a soft landing following weak employment data, and unexpected interest rate hikes by the Bank of Japan [2][13][21] - The report notes that the S&P 500 index has seen a cumulative increase of approximately 19% since the beginning of 2024, reaching historical highs, which has contributed to the current adjustment pressure [15][21] Group 2 - The report indicates that the U.S. labor market showed signs of weakness in July, with non-farm payrolls increasing by only 114,000, down from a previous value of 206,000, and the unemployment rate rising to 4.3% [21][22] - The report emphasizes that the Bank of Japan's recent policy changes, including raising the policy interest rate from 0-0.1% to 0.25% and plans to reduce monthly government bond purchases, signal a significant step towards monetary policy normalization [25][26] - The report suggests that despite the current market volatility, investors should not panic and can look for investment opportunities in domestic equity assets with stable earnings and lower valuations, especially in light of positive signals from recent political meetings in China [3][12][13]