全球市场观察2025.2.26

Market Performance - Chinese stock market experienced a continuous decline, with Hong Kong's consumer discretionary, materials, and telecommunications sectors leading the drop[1] - Southbound capital net purchases amounted to 22 billion RMB[1] - European stocks opened high but closed slightly up, with the UK planning to increase defense spending to 2.5% of GDP by 2027[1] Economic Indicators - Eurozone's Q4 salary growth slowed to 4.1%, indicating signs of economic slowdown[1] - U.S. consumer confidence index dropped significantly to 98.3, while inflation expectations rose to 6%[1] - Market anticipates a potential 60 basis points rate cut by the Federal Reserve this year, up from a previous expectation of 25 basis points[1] Commodity Trends - Oil prices declined due to weak U.S. consumer confidence impacting demand outlook, with expectations of OPEC+ potentially restoring production by 150,000 barrels per day in April[2] - Gold prices fell as some investors took profits at high levels[2] - Copper prices varied, with LME copper down but New York copper up due to tariff concerns on imports[2]