格林大华期货恒生科技指数创新高报告

Report Industry Investment Rating - Not provided in the content Core Viewpoints - The global economy maintains an upward trend, with various countries showing positive economic indicators [8] - The Fed's preventive 25 - basis - point rate cut signals a shift in monetary policy focus towards employment [4] - International capital is actively increasing positions in China's technology sector, and the US manufacturing industry is accelerating its reshoring [7] Summary by Relevant Catalogs Global Economic Outlook - China implements the "Artificial Intelligence +" initiative, and international capital is bullish on China's technology sector in AI, robotics, and biotech [7] - The US Court of Appeals rules "reciprocal tariffs" illegal. US capital goods imports in July reached $96.1 billion, a record high, with a 15.1% year - on - year growth, indicating accelerated manufacturing reshoring [7][12] - The Eurozone's August manufacturing PMI exceeded the boom - bust line for the first time since June 2022, and Germany's and the Eurozone's manufacturing PMIs showed positive trends [7][23] - India's August manufacturing and service PMIs hit new highs, and its manufacturing and service industries have been expanding for over three years [25] - Japan's long - term government bond yields are on an upward trend [27] - US economic data shows positive signs: retail and food sales in August increased by 0.6% month - on - month, consumer demand is strong; CPI in August increased by 2.9% year - on - year and 0.3% month - on - month, in line with expectations; the Market manufacturing PMI index accelerated expansion in August, reaching a three - year high; capital goods imports in July reached a record high, and intermediate goods imports in July increased by 25% month - on - month, indicating a recovery in manufacturing [9][12][15][18][21] Asset Allocation - The Fed's 25 - basis - point rate cut in September starts a new rate - cut cycle [30] - Foreign capital is flowing into Hong Kong - listed Chinese assets, driving up the Hang Seng Tech Index [29][32][43] - The Shanghai Composite Index failed to break through 3900 points. A - shares enter a phased shock period and shift to a defensive stance, with a focus on allocating CSI 300 stock index futures [31][38] - After the Fed's rate cut, London gold enters a technical indicator repair period [33][46] - Thirty - year treasury bond futures continue to decline [34][49] - Foreign capital is buying Chinese concept stocks, pushing up the Nasdaq Golden Dragon China Index [41]