投顾周刊：外资机构集体上调中国2025年GDP增速预测

Group 1 - The return of "AI players" has led to a strong performance in the AI computing sector, with several actively managed equity products seeing significant net value increases, surpassing related ETF products. The light communication and PCB sectors have experienced rapid growth due to the AI boom, and Chinese companies are expected to benefit from the global AI development dividends [2][3] - High-performing funds have capitalized on emerging trends, with many focusing on innovative pharmaceuticals, new consumption, and artificial intelligence sectors. The emergence of niche products such as short drama-themed funds and controllable nuclear fusion funds indicates a diversification in investment strategies [2][3] - In the second quarter, many high-performing funds increased their equity asset allocations, with technology and pharmaceuticals becoming core investment directions. This shift reflects a strategic response to structural opportunities in the market [3] Group 2 - Foreign institutions have collectively raised their GDP growth forecasts for China in 2025, with Morgan Stanley increasing its prediction from 4.5% to 4.8%, Goldman Sachs from 4.6% to 4.7%, and UBS from 4% to 4.7% [3][5] - Citigroup has upgraded the ratings for the Chinese and South Korean stock markets to "overweight," projecting the Hang Seng Index to reach 25,000 points by the end of this year and 26,000 points by mid-next year, while the CSI 300 Index is expected to hit 4,200 points by year-end and 4,350 points by mid-next year [4][5] Group 3 - NVIDIA has confirmed the resumption of H20 chip sales in China, with CEO Jensen Huang stating that the U.S. government has assured the granting of licenses, and NVIDIA aims to initiate deliveries promptly [6] - Recent global stock market performance has shown mixed results, with the Hang Seng Index and Shenzhen Component Index in China both rising over 2%, while the U.S. markets also saw gains in the Nasdaq and S&P 500 indices [7] Group 4 - The bond market has shown varied performance, with yields on 1-year, 5-year, and 10-year Chinese government bonds all declining, while the 10-year U.S. Treasury yield increased slightly [9][10] - Recent data indicates that fixed-income products dominate the bank wealth management market, with fixed-income plus products accounting for 48.34% of new offerings and 61.23% of total assets, reflecting a preference for stable returns and low-risk assets [14][15]