Core Viewpoint - The global market has shown strong performance, with Japan leading the gains while Hong Kong's performance is relatively weaker [1] Market Performance Summary - A-shares (CSI 300) increased by 2.03%, while the Hang Seng Index rose by 1.62% - The US Nasdaq 100 saw a significant increase of 3.77%, and the German DAX rose by 2.75% - Japan's Nikkei 225 had the highest gain at 5.56%, while India's Sensex 30 increased by 2.09% - Vietnam's Ho Chi Minh Index rose by 2.02% [2] Investment Products Performance Rui Ding Investment Global Version - The Rui Ding Investment Global Version achieved a return of 1.9% this week, with a cumulative return of 6.52% for the year - The product has consistently delivered positive returns for two consecutive years and aims for an annualized return of 10% this year [4] Shengxin Bond - The Shengxin Bond combination experienced a slight pullback due to market fluctuations but has a cumulative return of 0.97% since 2025 - Expected annual returns for 2023 and 2024 are around 3%, with a target of 2% to 2.5% being considered good [7] Lazy Balanced Combination - The Lazy Balanced combination recorded a return of 1.28% this week, with a cumulative return close to 5% for 2025 - The strategy involves flexible adjustments during market volatility, allowing for both growth and defensive positioning [10] Long-term Performance Validation - All three investment combinations have achieved positive returns over the past two years, demonstrating the effectiveness of global diversification strategies - The company encourages new investors to start with small amounts and engage in long-term investment to experience the benefits of global allocation [12][17]

Group 1 - The core viewpoint of the article is the establishment of China Life Asset Management's first global allocation product, named "China Life Asset - Chuangyuan FOF2518 Asset Management Product" [1] - The product is positioned with a "fixed income +" FOF strategy as its core focus [1]

Core Viewpoint - The article discusses the rising popularity of stablecoins, which are blockchain-based digital currencies pegged to traditional currencies like the US dollar, highlighting their mechanisms and advantages over traditional financial systems [3][4]. Summary by Sections Nature of Stablecoins - Stablecoins, such as USDC and USDT, are designed to maintain a 1:1 value with the US dollar by backing each issued coin with equivalent assets, typically short-term US Treasury bonds [3]. - This mechanism ensures that stablecoins are not "air coins" without real asset backing, providing a sense of security and stability in their value [3]. Advantages of Stablecoins - Stablecoins leverage blockchain technology, which significantly enhances the efficiency of cross-border transactions, reducing transfer times from 1-3 days via the SWIFT network to under 10 minutes [4]. - Transaction fees are drastically lowered from 1-8% to approximately 0.1%, making stablecoins a cost-effective alternative for payments [4]. - They operate 24/7 and offer a degree of anonymity, with the potential to integrate smart contracts for automated payments, similar to existing payment systems like Alipay [4]. Current Use and Future Potential - Currently, stablecoins are primarily used for small payments due to existing security risks, especially in large transactions [4]. - In the long term, stablecoins are viewed as a potential disruptive force in cross-border payments, akin to the revolutionary impact of AI on traditional industries and smartphones on feature phones [4].

Group 1 - The overall attitude towards A-shares and H-shares is changing due to significant challenges in the Chinese economy, including negative inflation data and slowing export growth [2] - A-shares have been in a continuous adjustment phase for eight months since October 8 of the previous year, indicating a difficult market environment [2] - Current A-share valuations are at the 55th percentile, which is not significantly cheaper compared to the Nasdaq at the 58th percentile, leading to a cautious outlook [2] Group 2 - Future movements of A-shares could either be a decline followed by a rise or a direct reversal upwards, with strategies prepared for both scenarios [3] - The Hong Kong stock market is closely related to A-shares and has recovered from previous declines, nearing new highs, but is currently at the 70th percentile in terms of valuation, indicating high market expectations [3]

Group 1 - The AI competition between China and the US is intensifying, with the NITRD "Artificial Intelligence Action Plan" highlighting the irreconcilable nature of this rivalry, leading to accelerated de-globalization [1] - The Emerging Asia ETF (SH520580) has seen a significant increase, rising nearly 2.5% at the opening on April 28, driven by a surge of capital inflow [1][3] - Global trade growth is projected to slow to 1.2% in 2024, the lowest in a decade, with the risks of single markets becoming unsustainable [3] Group 2 - Emerging Asian markets are becoming strategic high grounds for global capital due to their regional economic integration, industrial capabilities, and resilient internal growth [3][5] - The Emerging Asia ETF has increased by 12% since April 8, with an average daily trading volume of 600 million yuan, reflecting strong investor interest [3][4] - ASEAN is expected to attract a 23% increase in foreign investment in 2024, with over 60% of investments focused on electronics, automotive, and new energy sectors [5] Group 3 - The demographic advantages of India and Indonesia, with a median age of 28.4 years and a population of 1.4 billion in India and 280 million in Indonesia, are expected to drive growth in e-commerce, fintech, and healthcare sectors [6] - Asian central banks are actively intervening to stabilize markets against dollar fluctuations, with India reducing interest rates by 50 basis points by 2025 [6] - The Emerging Asia ETF is strategically focused on leading companies in the four emerging countries, benefiting from trends in digital India and manufacturing upgrades [6][7] Group 4 - The ETF's underlying index has a low correlation of around 0.3 with US and A-shares, which can significantly reduce volatility when included in investment portfolios [7] - The ETF offers opportunities for premium arbitrage through T+0 trading mechanisms and the newly launched margin trading options, indicating substantial potential for returns [7]