全球资产配置资金流向月报（2025年9月）：9月中国市场资金流入相对比例领先其他市场-20251008

Market Overview - In September, the Federal Reserve's interest rate cut increased global market risk appetite, leading to significant gains in equity markets, particularly in the Asia-Pacific region[3] - The Hang Seng Tech Index rose by 11.8%, while the KOSPI increased by 13.2%, compared to a modest 3.9% rise in the S&P 500[3] Global Asset Flows - Global money market funds saw an inflow of approximately $155 billion in September, a decrease from $200 billion in August[3] - The U.S. equity market attracted $676.5 billion, while China and emerging markets received inflows of $199.5 billion and $284.4 billion, respectively[14] China Market Dynamics - In September, China's equity market saw a substantial inflow of $199.5 billion, significantly up from $54.55 billion in August, representing a 265% increase[25] - China's fixed income market also attracted $43.4 billion, accounting for 37.32% of the total emerging market inflows[3] Relative Performance - China's fixed income funds had a relative inflow ratio of 3.2%, leading other markets, while equity funds had a 1.6% inflow ratio, also surpassing other major markets[16] - The allocation of global funds to the U.S. stock market decreased to 61.6%, while allocations to markets like Japan and France increased[3] Risk Considerations - Short-term asset price fluctuations may not reflect long-term trends, and potential economic downturns in Europe and the U.S. could impact market stability[3]