外需驱动型亚太新兴经济体边际回暖：环球市场动态2025年11月26日

Market Overview - A-shares continued to rise, with the Shanghai Composite Index up 0.87% to 3,870 points, and the Shenzhen Component Index up 1.53%[15] - U.S. stock markets saw gains, with the Dow Jones increasing by 664 points or 1.43%, marking its largest rise in three months[9] - European markets strengthened, driven by expectations of a U.S. interest rate cut, with the pan-European Stoxx 600 index rising by 0.91%[9] Economic Indicators - The U.S. retail sales and consumer confidence data were weak, reinforcing the rationale for a potential interest rate cut by the Federal Reserve next month[9] - The U.S. dollar index fell by 0.5% to 99.66, dropping below the 100 mark due to expectations of further rate cuts[28] - The 10-year U.S. Treasury yield fell below 4% for the first time in a month, indicating increased market bets on future rate cuts[5] Commodity and Currency Movements - Oil prices declined, with WTI crude oil down 1.51% to $57.95 per barrel, influenced by reports of Ukraine agreeing to a peace deal[28] - Gold prices rose by 1.12%, closing at $4,140.0 per ounce, amid expectations of a dovish Federal Reserve[28] - The Chinese yuan appreciated by 0.3% against the U.S. dollar, trading at 7.084[26] Sector Performance - In the Hong Kong market, technology stocks surged, with the Hang Seng Index rising 0.69%[11] - Alibaba's cloud revenue grew by 34% year-on-year, significantly outperforming expectations, while overall revenue increased by 4.8%[8] - The healthcare sector led the U.S. market gains, with an increase of 2.16%[9] Emerging Markets - Emerging economies in the Asia-Pacific region showed resilience, with Malaysia, Indonesia, Singapore, and Vietnam performing better than expected, while India, Thailand, and the Philippines lagged[6] - The MSCI Asia Emerging Markets Index (excluding China) is expected to reflect these trends in upcoming assessments[20]