@ JIN10.COM 金十数据 |一个交易工具 IN10.6 金十图示：2025年05月28日（周三）全球股市指数-美洲市场（盘初） | 蚁 +0.01% + 58870.3 +276.47 +0.47% H BOVESPA 指数 ↓ 139017.25 -523.75 -0.38% ...

金十图示：2025年05月28日（周三）全球股市指数-亚太市场（收盘） ↓ 37722.4 +0.1% -1.71 0% 恒生指数 印度孟买 ↓ 23258.31 SENSEX指 -123.68 载 -0.53% ↓ 81293.91 -257.72 -0.32% 澳大利亚标 普200 | 8396.9 -10.7 -0.13% @ JIN10.COM 金十数据 | 一个交易工具 ...

| 蚁 +1.23% > 58968.22 +509.06 +0.87% H BOVESPA 指数 ↑ 139920.77 +1784.63 +1.29% @ JIN10.COM 金十数据 |一个交易工具 金十图示：2025年05月27日（周二）全球股市指数-美洲市场（盘初） IN10.6 ...

Market Overview - Global stock markets experienced a correction last week, with a risk preference retreating from high levels. The MSCI Global Index fell by 1.9%, with developed markets down by 2.1% and emerging markets down by 0.5% [3][10] - The Hang Seng Index showed the best performance among emerging markets, increasing by 1.1%, while the Korean Composite Index was the weakest, declining by 1.3% [3][10] Sector Performance - In the US market, defensive sectors such as utilities and consumer staples performed well, while technology sectors faced adjustments. The S&P 500 saw a decline of 2.6% [10] - In the European market, utilities and communication services led with gains of 2.6% and 2.3%, while consumer discretionary and energy sectors lagged behind [10] - The Hong Kong market saw significant gains in the materials and healthcare sectors, with increases of 6.1% and 5.6%, respectively [10] Valuation Trends - Developed markets' overall valuation decreased, with the latest PE and PB ratios at 21.9x and 3.5x, respectively, placing them at the 86% and 97% percentile levels since 2010 [21] - Emerging markets' valuations improved, with PE and PB ratios at 15x and 1.9x, respectively, at the 72% and 85% percentile levels since 2010 [22] Earnings Expectations - Earnings expectations for global markets were mostly revised downwards, with Hong Kong showing a notable upward revision. The Hang Seng Index's 2025 EPS forecast was adjusted from 2214 to 2222 [27] - The S&P 500's 2025 EPS forecast was revised down from 264 to 263, with the consumer discretionary sector seeing the largest upward revision of +0.2% [27][28] Liquidity Conditions - Global liquidity conditions tightened marginally last week, with macro liquidity indicators showing a mixed trend across regions. The US and China saw interest rates decline, while European rates slightly increased [30] - The tightening of liquidity was reflected in the increase of long-term bond yields in major countries, with the UK, Japan, and the US seeing the largest increases [30] Economic Outlook - The economic outlook showed divergence, with the US economy experiencing a marginal decline in sentiment, as indicated by a drop in the manufacturing PMI to 48.7% [35] - In contrast, the European economy maintained stability, with the Eurozone manufacturing PMI at 49% and service PMI at 50.1%, indicating continued expansion [43]

蚁 -1.06% | 57405.92 -488.9 0.84% 世界 BOVESPA 指数 ↓ 136119.3 -1153.29 -0.84% @ JIN10.COM 金十数据 | 一个交易工具 金十图示：2025年05月23日（周五）全球股市指数-美洲市场（盘初） ...

| 贺 -0.04% | 57849.08 -718.93 -1.23% 巴西 BOVESPA 指数 ↓ 137478.16 -403.11 -0.29% @ JIN10.COM 金十数据 | 一个交易工具 金十图示：2025年05月22日（周四）全球股市指数-美洲市场（收盘） ...

Core Viewpoint - The global risk appetite indicator has rebounded from a low level to a neutral level, indicating a strong recovery in investor sentiment, although challenges remain in corporate earnings and economic data [1][3]. Group 1: Market Sentiment - The global stock market risk appetite indicator has significantly improved from the deep panic level (historical 9th percentile) in early April to the neutral level (historical 55th percentile) [1]. - Investor concerns about an economic recession have decreased, with the probability of a U.S. recession dropping from a recent high of 66% to 38% [3]. - Historical data shows that in the past 38 years, there have been 32 instances where global risk appetite rebounded from panic to neutral, with only 4 instances returning to panic, suggesting a potential for further market upturns [3]. Group 2: Regional Sentiment Disparities - Different regions exhibit significant disparities in investor sentiment, with countries like India (32nd percentile), South Korea (14), Indonesia (9), and Thailand (12) showing low risk appetite, indicating potential rebound opportunities [4]. - Conversely, countries such as Singapore (97), the Philippines (83), South Africa (91), Poland (88), and Mexico (76) are nearing or entering the "euphoric" zone, suggesting potential overvaluation and caution against pullback risks [4]. Group 3: Risk-Love Indicator - The current Risk-Love Indicator shows a global score of 55, with notable scores for various regions: Japan (54), Emerging Markets (27), Asia ex-Japan (28), China (63), and others indicating varying levels of investor sentiment [5].

@ JIN10.COM 金十数据 | 一个交易工具 西班牙 IBEX35 | 14238.41 -74.99 意大利富时 -0.52% MIB指数 40329 -222.22 -0.55% 金十图示：2025年05月22日（周四）全球股市指数-欧洲市场（盘初） ...

| 级 -1.61% 58512.23 +201.08 +0.34% 巴西 BOVESPA 指数 ↓ 137778.17 -2331.46 -1.66% @ JIN10.COM 金十数据 | 一个交易工具 金十图示：2025年05月21日（周三）全球股市指数-美洲市场（收盘） ...

西班牙 IBEX35 ↑ 14305.15 +42.85 意大利富时 +0.30% MIB指数 - 40527 +4.56 +0.01% @ JIN10.COM 金十数据 | 一个交易工具 IN10.0 金十图示：2025年05月21日（周三）全球股市指数-欧洲市场（收盘） ...