中国资产大涨！美联储降息25基点，对A股、港股、人民币影响多大

Core Viewpoint - The Federal Reserve has lowered the federal funds rate by 25 basis points to a target range of 4.00% to 4.25%, marking a cumulative reduction of 125 basis points in this rate-cutting cycle, which is expected to influence various asset classes positively [24][14][30]. Market Impact - The U.S. stock market is likely to see increased risk appetite, with growth and small-cap stocks expected to benefit more from the rate cut [28][17]. - There is a significant increase in demand for foreign capital to flow back into A-shares and Hong Kong stocks, supported by domestic policies [28][17]. - Gold prices are projected to challenge $3,800 or higher within the year or by mid-next year due to the rate cut [28][18]. - Short-term bond yields are expected to decrease, leading to price increases, while long-term bond volatility may ease due to clearer expectations [28][17]. - The U.S. dollar index is facing systemic downward pressure, entering a weakening cycle [28][11]. Sector-Specific Insights - The technology and growth sectors, particularly those sensitive to interest rates, are anticipated to perform well during this easing cycle [17][18]. - In the Chinese market, if the People's Bank of China continues to implement monetary easing, it could provide a boost to the A-share market, potentially leading to a second wave of upward momentum [21][28]. - The bond market may see increased foreign investment in Chinese bonds, especially government and policy bank bonds, as the Fed's rate cut alleviates the pressure on the China-U.S. interest rate differential [21][28]. Global Context - The current rate cut is part of a broader trend of global central banks lowering rates, with the Fed's actions expected to influence other markets and asset classes worldwide [32][30].