中国市场始终是罗杰斯关注的重点，他在节目中表示"我持有很多中国股票，我对中国的未来持乐观态度。在下一个十年、下一个世纪，中国将成为世界 上最重要的经济体，这意味着将会有很多机会"。具体到投资方向，罗杰斯表示，旅游、交通运输、航空等受益于中国发展的行业，以及被低估的农业板 块，都是值得关注的方向。 同时，他高度认可中国资本市场的韧性："过去几年，中国市场一直非常有韧性。许多市场纷纷崩盘，但中国市场始终保持稳定。下次若出现大跌，我希 望我能加仓中国资产，因为它必将再次展现韧性。" 谈及全球市场走势，罗杰斯指出，自2009年以来，全球大多数市场持续上涨，这一长期繁荣景象在历史上极为罕见。当所有人都能在很长一段时间里轻松 赚钱时，需更加警惕风险。 针对备受关注的AI行业，罗杰斯认为，任何新事物的发展最终都会催生泡沫，AI行业也不例外，但当前AI尚未形成泡沫，短期内无需过度担忧。 岁末年初，全球经济变局与市场机遇交织，是投资者锚定投资方向的关键节点。国泰海通（601211）围绕建设一流投资银行战略目标，立足全球视野，践 行普惠金融，助力投资者提高长期投资胜率。12月18日，国泰海通君弘推出"开门红"特别直播，特邀投资中 ...

截至2025年12月17日 13:28，A500ETF南方(159352)上涨0.50%，盘中换手18.28%，成交55.04亿元，市 场交投活跃。跟踪指数中证A500指数上涨0.71%，成分股天华新能上涨13.96%，美年健康上涨10.06%， 天孚通信上涨8.62%，中矿资源上涨7.33%，新易盛上涨7.29%。 从资金净流入方面来看，截至12月16日，A500ETF南方(159352)近10天获得连续资金净流入。 展望2026年，瑞银、摩根大通、富达国际等多家机构认为中国资产在盈利增长、创新加速及估值吸引力 下具备持续反弹基础。 2025年以来，境外长线资金呈现积极流入中国股市的特征。摩根士丹利披露的数据显示，截至今年11月 份，境外长线资金通过沪深港通等渠道净买入约100亿美元的A股及H股，与2024年约170亿美元的资金 流出形成鲜明对比。仅11月份，境外长线资金对中国股市的净流入额为23亿美元，与10月份的22亿美元 基本持平。 东方财富证券表示，中证A500指数——中国资产的脊梁。中证A500指数是A股ETF跟踪规模第二大的宽 基指数，行业与市值分布均衡、贴近全A市场，兼具分散风险与全面映射中国 ...

深圳商报·读创客户端记者 詹钰叶 近日，鹏扬基金在深圳举办投资者交流与金融文化体验活动。本次活动通过解读财经政策，梳理市场脉络，辨析投资策略，体验特色文化，为投资者奉上了 一道金融大餐。 洞察与思辨——从可为市场到有为市场 本次交流活动聚焦于AH市场投资策略展望。鹏扬基金高级策略分析师、品牌宣传负责人魏枫凌从经济政策解读和金融市场现象出发，为投资者分析国内外 宏观经济形势与资产配置策略，展望"十五五"时期中国经济的发展方向，重点讲解股票市场投资机会。他分析指出，当前市场正处于结构化行情，追逐短期 热点的叙事交易模式面临更大的市场波动，市场风格向有扎实业绩和成长性的基本面投资进行再平衡，扩大内需、科技创新攻坚与应用、建设全国统一大市 场将是决定明年经济和资本市场表现的最重要政策变量。从资产配置角度看，全球主要经济体财政发力驱动经济复苏和通胀结构性抬升；资金流向方面，综 合多种因素表明，全球超配美元资产的模式正在结束，资金青睐于具备估值等性价比优势的中国资产；行业观点则强调，资本市场正从科技一枝独秀过渡至 科技与周期红利共鸣的新格局。 图片均由鹏扬基金提供 在随后的互动问答环节，与会嘉宾就宏观经济走势、跨境投资机 ...

在美联储降息的背景下，中国资产受全球资金青睐程度或将再提升。多家外资机构表示，中国经济展现 出韧性，市场估值具备吸引力，且政策环境持续优化，推动海外长线资金加速回流中国股市。从配置方 向看，外资重点关注科技成长、资源品、基本面改善行业及高股息板块。（上证报） ...

Group 1 - The core viewpoint is that with the backdrop of the Federal Reserve's interest rate cuts, global funds are increasingly favoring Chinese assets due to the resilience of the Chinese economy, attractive market valuations, and an improving policy environment [1][2] - Foreign long-term capital is actively reassessing the investment value of Chinese assets, particularly in technology stocks, with a focus on structural growth opportunities over the next 10 to 20 years [2] - As of November this year, foreign long-term capital has net purchased approximately $10 billion in A-shares and H-shares through channels like the Shanghai-Hong Kong Stock Connect, contrasting sharply with an expected outflow of about $17 billion in 2024 [1] Group 2 - In December, Chinese stock funds saw a net inflow of $5.846 billion, surpassing markets like South Korea and India [1] - The assets of overseas Chinese ETFs have significantly increased, with the KraneShares China Internet ETF growing from $5.414 billion at the end of last year to $8.914 billion, and the iShares MSCI China ETF rising from $5.451 billion to $7.878 billion [1] - Multiple foreign institutions believe that the Chinese stock market has entered an attractive configuration zone, with expectations of continued rebound potential through 2026 due to improving macro conditions and corporate resilience [3]

本周值得看： 上周从宝藏库里面精译整理了一篇大部头，是Baillie Gifford传奇基金经理詹姆斯·安德森在2019年亲笔 撰写的一篇雄文——《格雷厄姆还是增长？》（Graham or Growth?） 1.8万字，看得酣畅淋漓。希望你跟我一样很喜欢。 点击阅读： 1.8万字｜柏基"传奇基金经理"詹姆斯·安德森2019年深度撰文：如何看待高成长与经典价值 还有一篇反响很好的转载文，缘起于两位投资圈的好友不约而同分享了风和基金创始人胡猛在北大价值 投资课堂上的交流。 1、 下阶段A股主要矛盾是基本面！中泰资管姜诚近期交流：知识要挑难的学，投资决策要挑简单的做 2、 明年投资要降低预期！景林高云程最新交流回答12个高关注问题 3、 中国资产已重回全球投资者布局的舞台中心！大摩邢自强最新发声：2026年的政策基调大概率还是渐 进、温和的 4、 公募量化都在说的AI赋能，如何能真正穿越周期获取超额？ 5、 港股证券怎么又热了？ 看完记得 点击视频右下角头像 ， 关注【聪明投资者视频号】 ，带你看投资智慧的浓缩精华。 转载开白， 请联系小编微信【fanxiaocom】，添加备注 "转载+新媒体名+姓名" ，按顺序邀 ...

Core Viewpoint - Chinese assets have shown a strong rebound, with significant gains in various indices and stocks, indicating renewed interest from global investors in the Chinese market [1][2]. Group 1: Market Performance - The Nasdaq Golden Dragon Index rose by 1.29%, and the three-times leveraged FTSE China ETF surged over 4%, reversing a week-long decline [1][2]. - Popular Chinese concept stocks experienced substantial increases, with Dingdong Maicai rising over 10% and Baidu increasing nearly 6% [1][2]. - Multiple foreign institutions have released optimistic reports on Chinese assets, with Morgan Stanley redefining the Chinese stock market as a "growth market" [2]. Group 2: Economic Outlook - Morgan Stanley set a target for the CSI 300 Index at 4840 points by December 2026, suggesting a forward P/E ratio for the MSCI China Index in the range of 12 to 13 times [2]. - JPMorgan's Rajiv Batra noted that the Chinese stock market is in the early stages of recovery, with attractive valuations and relatively low holding levels [2][3]. - Various institutions, including OECD and Goldman Sachs, have raised their GDP growth forecasts for China, with Goldman Sachs adjusting its 2025 forecast from 4.9% to 5.0% [3]. Group 3: Federal Reserve's Interest Rate Expectations - The U.S. core PCE price index for September rose by 0.2% month-on-month and 2.8% year-on-year, aligning with expectations and reinforcing the likelihood of a rate cut by the Federal Reserve [4][5]. - The probability of a 25 basis point rate cut in December has risen to 87.2%, with expectations for further cuts in early 2026 [5][6].

Core Viewpoint - Chinese assets are experiencing a strong rebound, with significant gains in various indices and stocks, indicating renewed interest from global investors in the Chinese market [1][2]. Group 1: Market Performance - The Nasdaq Golden Dragon Index rose by 1.29%, and the three-times leveraged FTSE China ETF surged over 4%, reversing the downward trend of the week [1][2]. - Popular Chinese concept stocks saw substantial increases, with Dingdong Maicai up over 10%, Baidu rising nearly 6%, and other notable gains from companies like Huya and Xpeng [2]. Group 2: Institutional Outlook - Morgan Stanley has expressed optimism about Chinese assets, suggesting that global interest in these assets is increasing and defining the Chinese stock market as a "growth market" [1][2]. - Morgan Stanley set a target for the CSI 300 Index at 4840 points by December 2026, with a reasonable forward P/E ratio for the MSCI China Index projected between 12 to 13 times [2]. Group 3: Economic Forecasts - Multiple institutions, including OECD, Goldman Sachs, and Deutsche Bank, have raised their GDP growth forecasts for China, with Goldman Sachs adjusting its 2025 forecast from 4.9% to 5.0% [4]. - Deutsche Bank has also increased its GDP growth forecast for China in Q4 2025 to 4.6%, with an annual growth expectation raised to 5.0% [4]. Group 4: Federal Reserve Rate Expectations - The latest data from the U.S. Commerce Department indicates that the core PCE price index rose by 0.2% month-on-month and 2.8% year-on-year, reinforcing expectations for a rate cut by the Federal Reserve [5][6]. - As of the latest updates, the probability of a 25 basis point rate cut in December stands at 87.2%, with expectations for further cuts into 2026 [6].

第二起坠机源于甲板操作失误。2025年4月，航母为躲避胡塞武装火力攻击而进行急转弯时，机库内一 架"超级大黄蜂"因机库门未及时关闭，且未将甲板倾斜情况告知正在操作战机入库的士兵，战机开始滑 动，最终坠入海中。调查发现，甲板因作战飞行任务过于频繁，影响了常规清洁工作，导致甲板异常湿 滑，战机刹车未有效启动。同时，负责刹车的士兵"缺乏必要知识和对系统的理解"。 （原标题：美军通报：美舰误判，击落自家战机） 来源：新华社 美海军公布三起"超级大黄蜂"战机坠机事故原因 美国海军4日发布报告，披露"哈里·杜鲁门"号航空母舰战斗群在执行应对也门胡塞武装袭击商船任务期 间发生的三起导致F/A－18"超级大黄蜂"战机坠机事故的调查结果。 报告说，首起坠机源于友军误击。2024年12月，"杜鲁门"号首次对胡塞武装目标实施防御性打击后，其 航母战斗群所属的"葛底斯堡"号导弹巡洋舰将来自航母的"超级大黄蜂"误判为胡塞武装导弹并向其中两 架开火。其中一架被错误击落，机上两人弹射逃生。报告认为事故主要归咎于"葛底斯堡"号战情中心的 士兵训练不足且过度依赖科技。 第三起发生在2025年5月6日，即美国总统特朗普宣布与胡塞武装停火当天。一 ...

Group 1: Institutional Insights and Market Analysis - Foreign institutions have conducted over 9,000 investigations into A-share listed companies this year, signaling a positive outlook on Chinese assets [1][4] - Notable foreign institutions such as Point72 Asset Management and Goldman Sachs are leading in research frequency, focusing on technology innovation and high-end manufacturing as key sectors [1][4] Group 2: External Markets and Related Assets - On Wednesday, US stock indices closed higher, with the Dow Jones up 0.86%, Nasdaq up 0.17%, and S&P 500 up 0.30%; Tesla rose over 4% and Oracle over 3%, while Microsoft fell over 2% and Nvidia dropped 1% [2][5] - The Nasdaq China Golden Dragon Index fell 1.37%, with significant declines in stocks such as Aters down 9.38%, Haitian Network down 7.98%, Jinko Solar down 5.67%, and NIO down 4.97% [2][5] - In commodities, Shanghai tin futures rose 3.59% to 320,440 CNY/ton, the highest since April 2022, while LME three-month tin also increased by 4.21% to 40,685 USD/ton [2][5] Group 3: Important Announcements from Listed Companies - On December 3, Zhihong Home disclosed its shareholding increase; concurrently, 15 A-share listed companies, including Tengjing Technology, Dongfang Electric, and Shanxi Fenjiu, announced shareholding reduction plans [3][6]