［1月11日］美股指数估值数据（全球股市迎来开门红；全球指数星级更新）

Group 1 - The global stock market saw an overall increase of 1.75% in the first trading week of 2026 [3] - The A-share market experienced a significant rise of over 4%, marking one of the strongest starts in recent years [5] - After the recent surge, the A-share market returned to a rating of 3.9 stars, the first time in recent years [6] Group 2 - Following the Federal Reserve's interest rate cuts in September 2024, global markets, including A-shares and Hong Kong stocks, saw substantial increases, with A-shares and Hong Kong stocks rising by 50-60%, compared to a 30% increase in the global stock market [10] - Small-cap stocks led the rally in the A-share market, reminiscent of the last bull market in 2015 [11][12] - The liquidity-rich environment following interest rate cuts tends to favor small-cap stocks, leading to significant price increases [15][17] Group 3 - Many small-cap stock markets globally, such as in South Korea and Spain, have seen substantial gains since 2025, benefiting from low valuations during the Fed's rate hike period [19][21] - The market's liquidity has also contributed to a bull market in commodities, with small metals experiencing significant price increases, sometimes exceeding gold [22][23] Group 4 - In a rate-cutting cycle, liquidity tends to increase, leading to valuation uplifts, while in a rate-hiking cycle, liquidity tightens, resulting in lower valuations [29][30] - Historical data shows that during the Fed's rate hikes from 2021 to 2022, A-shares and Hong Kong stocks fell back to around 5 stars [31] Group 5 - A global stock market star rating chart indicates that the market was undervalued at 4-5 stars during previous periods in 2018, 2020, and 2022, and is currently around 2.9 stars [32] - There are currently no global stock index funds available in mainland China, but a simulated global index investment strategy is offered through a diversified portfolio [34][35] Group 6 - A new edition of the book "Stocks for the Long Run" has been released, which includes updated data and new chapters, emphasizing that stocks are the best long-term investment for wealth accumulation [40][41]