在"十五五"规划下，中国料将聚焦于高科技创新行业如人工智能、先进制造及可再生能源。该行因此看 好中资科技股，尤其是人工智能相关股份如半导体，亦偏好先进制造、机器人及医疗护理股。 宏利投资管理亚洲区股票投资部主管蔡尚琴表示，中国经济运行平稳，亚洲股市可受惠美元转弱。她提 到，中国有越来越多高价值出口，包括工业设备、新能源车。 宏利投资管理给予内地和香港股票"中性"评级，宏利投资管理亚洲区资产配置主管潘乐勤(Luke Browne)指该行偏好中资股，虽预期中资股不会出现爆炸性回报，但认为中资股具有投资机会。 宏利投资管理高级环球宏观策略师兼环球宏观策略高级总监邵宇婷预期，美国今年将减息3次，第一次 会在5月份美联储主席换届前，余下两次料将于下半年发生。她又提醒，现任主席鲍威尔有机会在主席 任期结束后留任委员一职，有机会导致美联储币策立场较该行预期更鹰派。 ...

Group 1 - The Federal Reserve announced a 25 basis point cut in the federal funds rate target range to 4.00%-4.25%, marking the first rate cut in nine months and aligning with market expectations [1] - HSBC's Chief Investment Officer for Private Banking and Wealth Management in China emphasized the importance of diversified asset allocation across categories, industries, and regions to enhance portfolio resilience in a changing environment [1] - The resumption of the Fed's rate cut cycle may lower dollar cash rates and bond yields in the coming months, increasing the opportunity cost of holding cash assets [1] Group 2 - HSBC recommends positioning in high-quality bonds to prepare for the new round of Fed rate cuts, aiming to lock in current higher yields before further declines in dollar cash rates [1] - The slowdown in U.S. economic growth is expected to decrease the correlation between stocks and bonds, making bonds a crucial tool for diversifying portfolio risk [1] - HSBC maintains a positive outlook on gold as a hedge against global policy, economic growth, and geopolitical uncertainties, while also advocating for alternative assets like infrastructure and renewable energy [1] Group 3 - HSBC continues to favor a geographically diversified strategy in equities, maintaining a positive risk preference for global stocks, particularly in the U.S., Asia, and the UAE markets [1] - In Asia, apart from Chinese stocks, HSBC also sees potential in Singaporean stocks, reflecting an optimistic and diversified growth outlook for the region [2] - The weakening dollar and Fed rate cuts are expected to benefit Asian markets, with local central banks likely to follow suit in cutting rates to support economic growth and risk appetite [2]