格隆汇10月9日｜法国互助信贷资产管理公司的分析师François Rimeu在一份报告中表示，新兴市场股票 和中国股票的估值看起来比美国股票估值更具吸引力。Rimeu认为美国股票估值已被拉高。他指 出："即使对的盈利预测非常乐观，我们认为其上涨潜力似乎也相当有限。"法国互助信贷资产管理公司 倾向于投资于股票，特别是新兴市场和中国股票。 ...

（文章来源：每日经济新闻） 消息面上，景顺增加了对中国股票的配置，同时减持印度股票，因为认为后者"价格昂贵"。景顺投资解 决方案团队的多资产投资组合经理Chang Hwan Sung表示，看好中国股票，尽管近期上涨，但估值仍然 具有吸引力。 中泰证券认为，临近国庆假期，资金避险情绪或有所上升，不排除高位科技板块短期延续调整的可能。 但从中长期来看，积极的政策基调并未改变，长线资金与外资仍倾向配置A股，散户情绪也较为理性， 再加上券商等金融板块估值仍处于低位，建议投资者"持股过节"。 9月29日午后，A股三大股指涨幅扩大，截至13:57，上证指数涨1.21%，深证成指涨2.22%，创业板指涨 3.07%，跟踪中证A500指数的A500ETF基金（512050）上涨1.56%，盘中成交额超52亿元，位居同类产 品第一。盘面上，该ETF持仓股湖南裕能强势领涨，涨超17%，中国天楹、钒钛股份强势涨停。资金面 上，资金连续三个交易日净流入A500ETF基金（512050），近5日吸金13.32亿元。 ...

Group 1 - Hedge funds are buying Chinese stocks at the fastest pace since the end of June, driven by long positions and some short covering, with a ratio of 1.9 to 1 [1] - Individual stocks and macro products, based on trends in inflation, GDP, geopolitical issues, and fiscal policy, accounted for 58% and 42% of total nominal net purchases, respectively [1] - China is the market with the highest net purchases on Goldman Sachs' prime brokerage platform as of August [1] Group 2 - Goldman Sachs' prime brokerage platform is currently overweight on China relative to the MSCI All Country World Index (ACWI) by +4.9%, ranking in the 41st percentile compared to last year and the 16th percentile compared to five years ago [1] - Chinese stocks represent 5.8% of total exposure and 7.3% of net exposure on Goldman Sachs' prime brokerage platform, ranking in the 94th and 45th percentiles respectively compared to last year, and the 48th and 21st percentiles compared to five years ago [1] Group 3 - Korean investors have significantly increased their trading volume in mainland China and Hong Kong stock markets, with cumulative trading amount reaching $5.514 billion by the end of July, surpassing last year's total [1] - The top ten net purchases of Chinese stocks by Korean investors are concentrated in leading companies in the fields of new energy vehicles, internet, artificial intelligence, and semiconductors [2] Group 4 - The average return of Chinese stock funds issued in South Korea from January to July is approximately 10.3%, driven by steady economic development in China [2] - In July alone, about 402.1 billion Korean won (approximately 2.08 billion RMB) of net inflow was recorded in Chinese stock funds [2] - Goldman Sachs raised the 12-month target for the MSCI China Index from 85 to 90 points, indicating an 11% upside potential from last Friday's closing price, supported by improved trade prospects and market liquidity [2]

Group 1 - International investors have shown increasing demand for Chinese assets, with five large overseas China stock ETFs attracting a net inflow of $2.753 billion since July [1] - As of July 25, the iShares MSCI China ETF reached an asset size of $7.187 billion, a growth of 12.38% since the end of June; KraneShares' China Overseas Internet ETF grew to $7.648 billion, with a 20% increase [3] - Korean investors have significantly increased their investment in Chinese stocks, with a cumulative transaction amount of $5.764 billion since 2025, maintaining China's position as the second-largest overseas stock investment destination for Korean investors [3] Group 2 - Overseas actively managed funds are increasing their positions in Chinese tech stocks, with notable increases in holdings for Tencent, Trip.com, and Alibaba among various funds [4] - Goldman Sachs has raised its 12-month target for the MSCI China Index from 85 to 90, indicating an 11% upside potential, driven by robust GDP growth in Q2, a recovery in the Hong Kong IPO market, and continued inflows from southbound funds [4] - The MSCI China Index and the CSI 300 Index have recently reached new highs, reflecting a positive market sentiment [4]

景顺：主权财富基金对中国股票的兴趣再度高涨 智通财经7月14日电，景顺表示，主权财富基金对中国股票的兴趣再度高涨，大多数目前预计将投入更 多资金，以从中国科技推动的反弹中受益。景顺近期发布《全球主权资产管理研究》，在受访的主权财 富基金中，59%将中国列为高度或中度优先对象，高于去年的44%。该调查涵盖83家主权财富基金和58 家央行，它们总共管理约27万亿美元的资产。该资产管理公司亚洲（日本除外）首席执行官Martin Franc表示，投资者越来越相信中国在主要技术领域的创新领导地位，且不希望未跟上这股潮流。在景 顺的研究中，约78%的受访者预期中国的科技和创新领域将具备全球竞争力。大多数预计未来五年将增 加对中国股票的配置，包括88%的亚洲基金和73%的北美基金。 ...

Group 1 - The Ministry of Finance is accelerating the establishment and implementation of a childcare subsidy system [1] - Ren Zhengfei stated that artificial intelligence may be the last technological revolution for human society, with nuclear fusion in energy also being a possibility [2] - UBS's emerging markets strategist Xingchen Yu believes global investors should continue to strategically invest in Chinese stocks, as Chinese tech stocks have further upside potential [3] Group 2 - As of the midday close, the Shanghai Composite Index rose by 0.11%, while the Shenzhen Component Index fell by 0.23%, and the ChiNext Index decreased by 0.36% [4] - The Hang Seng Index increased by 0.33%, while the Hang Seng Tech Index declined by 0.33% [4]

Group 1 - Morgan Stanley reports that international investors' sentiment towards China is improving, with an increased willingness to add Chinese stocks to their portfolios [1] - There is growing confidence in the "new consumption" and technology sectors among international investors [1] - Analysis indicates that Chinese stocks are underweighted by 2.4 percentage points compared to the MSCI Emerging Markets benchmark index in the overall emerging market portfolios of global long-only investors [1]

Group 1 - The core viewpoint of the report indicates that the appreciation of the Renminbi (RMB) positively impacts the Chinese stock market, with a 1% increase in RMB leading to a 3% rise in Chinese stocks, driven by corporate prospects and foreign capital inflows [1] - Historical trends show that during periods of RMB appreciation, foreign investors tend to adopt a positive stance towards Chinese stocks, particularly favoring core assets in sectors like consumer discretionary, real estate, and brokerage firms [1] - The recent strength of the RMB is attributed to the central bank's proactive measures to stabilize the exchange rate and the overall market confidence, preventing capital outflows [1] Group 2 - The offshore RMB reached its lowest point at 7.42 on April 8, but has since appreciated to 7.17, marking a rise of 2500 basis points or 3% [2] - While the RMB shows potential for further appreciation, the central bank aims to maintain a stable exchange rate to avoid excessive gains that could harm export-oriented businesses [2] - The current upward potential for the RMB appears limited, suggesting that when it approaches the 7.1 to 7 range, the appreciation may pause [3] Group 3 - Despite the RMB's appreciation, the A-share market has not shown significant movement, remaining within a trading range, while the Hong Kong stock market has seen a substantial increase of over 20% since April 8 [6] - The disparity in performance between A-shares and Hong Kong stocks indicates that the latter benefits more from RMB appreciation due to its globalized market and easier access for foreign capital [6][7] - The conclusion emphasizes the importance of focusing on investment opportunities in Hong Kong stocks post-adjustment, while considering synchronized investments in both A-shares and Hong Kong stocks for potentially greater returns [8]

Group 1 - The US and China have committed to a series of measures by May 14, 2025, including modifying and canceling tariffs on each other's goods and suspending or canceling non-tariff countermeasures [1] - The People's Bank of China and four other departments have proposed increased support for the marine industry, commercial aerospace, and the integration of key digital technologies like blockchain and artificial intelligence in Nansha [2] - Sichuan has proposed to accelerate the implementation of the province's first invasive brain-computer interface surgery and support its inclusion in the medical service system, aiming for key breakthroughs in the industrial chain by 2027 [3] Group 2 - Morgan Stanley's report indicates that US hedge funds increased their bullish bets on Chinese stocks last week while reducing positions in Thailand, India, and Australia [4] - China has launched a special campaign to combat the smuggling and export of strategic minerals, with recent actions including the implementation of export controls on heavy rare earths [5] - Zhaowei Electromechanical announced that its shareholder Qingmo Investment plans to reduce its stake by no more than 1.5% [6] - China CRRC recently signed significant contracts totaling 54.74 billion yuan [6] - Lijun Co., which has seen four consecutive trading limit increases, stated that its current operating conditions are normal and there are no undisclosed significant matters [6] - Kweichow Moutai has no plans for a Hong Kong listing at this time [6]