刚刚！中国资产，大爆发！

Core Viewpoint - Chinese assets are experiencing a significant value reassessment, with global capital increasingly allocating resources to these assets as narratives around Chinese technology and market recovery become clearer [2][4]. Market Performance - On October 27, Chinese assets surged, with the Nasdaq Golden Dragon China Index rising over 2% at one point and closing with a 1.59% increase. Various ETFs related to Chinese stocks also saw gains exceeding 3% [3]. - Notable Chinese stocks such as Xpeng Motors and Baidu saw increases of over 6% and 5% respectively, while Alibaba rose nearly 3% [3]. - The offshore RMB appreciated against the USD, marking its largest single-day gain since August 28, with a rise of 168 points [3]. Capital Inflows and Investor Sentiment - International capital inflows into emerging markets exceeded $150 billion in the first nine months of the year, with a notable rebound in foreign investment in Chinese stocks, reaching $4.6 billion in September [4][5]. - UBS reported a growing interest among investors in Chinese stocks, particularly in AI technology and capital returns, with a positive sentiment observed in Asia [4][6]. Long-term Investment Trends - Long-term investors are increasingly interested in Chinese technology stocks, particularly in the AI supply chain, as highlighted by a report from Citibank [7]. - Morgan Stanley's chief strategist expressed confidence in the Chinese stock market, citing macroeconomic stability and global recognition of China's innovation capabilities as key factors [5]. Company-Specific Insights - Victory Technology reported a significant revenue increase of 78.95% year-on-year, with a net profit surge of 260.52% in Q3 2025, indicating strong growth potential in the AI supply chain [7]. - Goldman Sachs raised its capital expenditure forecasts for Tencent and Alibaba, reflecting optimism about their future growth prospects [8][9].