［12月7日］美股指数估值数据（全球股市上涨；日元加息对全球市场会有啥影响；全球指数星级更新）

Group 1 - The global stock market experienced a slight increase this week, with minimal volatility, particularly in the Asia-Pacific and European regions [2] - The A-share market also saw an overall rise this week [3] Group 2 - There is an increasing expectation for interest rate hikes in Japan, which may impact global markets [4] - In the late 1980s, Japan's stock market and real estate experienced a bubble, with stock prices nearing a hundred times earnings and real estate values at peak levels [5] - Following this, the Japanese stock market faced a prolonged decline lasting 19 years, with a drop of over 80% from its peak in 1989 to 2008 [6] - During this decline, the Bank of Japan attempted to stimulate the economy by lowering interest rates [7] - The yield on Japan's 10-year government bonds fell from around 8.5% in the 1980s to near zero by 2015, maintaining this low rate until 2020 [8][9] Group 3 - The low interest rates in Japan led to an international arbitrage investment strategy, borrowing yen at low costs to invest in other assets [11] - This strategy allowed investors to benefit from both currency and interest rate gains, with Warren Buffett also employing a similar approach [14] - Buffett issued low-interest yen bonds after the Japanese stock market crash in 2020, financing at less than 1% to invest in major Japanese trading companies with high dividend yields [15][16] Group 4 - Japanese companies often engage in cross-shareholding to defend against hostile takeovers and strengthen collaboration, a common practice among listed companies [17][18] - The five major trading companies in Japan have diverse business operations across various sectors and offer relatively high dividend yields, averaging around 4-5% during Buffett's investment period [20][21][22] Group 5 - If Japan enters an interest rate hike cycle, the previously successful arbitrage strategy may become less effective due to potential yen appreciation and increased borrowing costs [26] - The impact of changes in the yen's value and borrowing costs could affect assets financed through yen loans [27] Group 6 - A global stock market star rating chart indicates that the market was undervalued at 4-5 stars during certain periods in 2018, 2020, and 2022 [30] - After a significant drop in April 2025, the global stock market rating returned to 4.1-4.2 stars, followed by a rebound to over 2 stars in subsequent quarters, but currently sits around 3.0 stars [31][32] Group 7 - There are global stock index funds available in overseas markets, with a total scale exceeding one trillion dollars, but such funds are not yet available in mainland China [35] - The company has launched a "Global Index Advisory Portfolio" that diversifies investments across various stock markets, including US, UK, Hong Kong, and A-shares [36] Group 8 - A new edition of the book "The Long-Term Investment Secret" has been released, which has been influential in the investment field for 30 years and includes updated data and new chapters [41][42] - The book emphasizes that stocks are the best long-term investment for wealth accumulation, suggesting that a portion of household assets should be allocated to stocks [43]