本周全球资产表现整体向好，股市几乎全线飘红，不少板块和组合都交出了令人满意的答卷。更重要的是，一些提前布局的方向再次得到了验证，而在风 险控制方面，我们也保持了应有的谨慎。 一周行情复盘 新兴市场方面， 印度 是本周唯一的下跌者，但我们早在前期就完成了清仓，小实验也同步结束，成功避开了这波下跌； 越南 上涨 4.49% ，虽然有些踏 空，但当初评估风险后及时退出仍然是稳健的选择。 债券方面略显疲弱，本周下跌 0.09% ， 美国国债 跌幅更大（-0.74%）， 黄金 微跌 0.14% 。 省心债 A股 上涨 1.27% 红利指数 上涨 1.48% 港股 上涨 0.7% 美国 上涨 1.46% 德国 上涨 1.36% 日本 上涨 3.8% | | | 涨跌幅 | | 涨跌幅 | | --- | --- | --- | --- | --- | | A股 | 沪深300 | 1.27% | 中债新综合全价 | -0.09% | | 红利 | 中证红利 | 1.48% | 美国20年+国债 | -0.74% | | 港股 | 恒生指数 | 0.70% | 上海金 | -0.14% | | 美国 | 纳指100 | 1 ...

Core Viewpoint - The article highlights a structural market trend in July, characterized by strong stock performance and weak bond performance, leading to overall positive returns across various investment portfolios [2][3]. Group 1: Market Performance Overview - In July, the A-share market rose by 3.54%, while the Hong Kong market increased by 2.91%. The U.S. market saw a moderate gain of 2.38%, and the German DAX and Japanese Nikkei 225 had lower increases of 0.65% and 1.44%, respectively. India was the weakest performer with a decline of 2.90% [4]. - The Vietnamese market experienced a significant rise of 9.19%, with timely profit-taking executed to avoid potential downturns [4]. - The bond market overall declined by 0.26%, with U.S. Treasuries dropping by 1.05%, while gold saw a slight increase of 0.49% [4]. Group 2: Portfolio Performance - The "省心债组合" (Comfortable Bond Portfolio) achieved a positive return of 0.02% amidst a generally declining bond market, indicating effective volatility control and timing strategies [7][8]. - The "睿定投全球版" (Smart Global Investment Portfolio) rose by 2.46% in July, showcasing strong performance in a competitive market environment [11][12]. - The "懒人均衡组合" (Lazy Balanced Portfolio) recorded a total increase of 8.05% in the first seven months of 2025, surpassing the previous year's total return of 7.87% [13][17]. - The "红利组合" (Dividend Portfolio) focused on high-dividend assets in A-shares and Hong Kong stocks, achieving a monthly increase of 4.09% and a cumulative return of 7.23% for 2025 [21]. Group 3: Strategy and Future Outlook - The article emphasizes the importance of not chasing monthly profits but rather focusing on minimizing losses and achieving steady gains through diversified asset allocation [30]. - Investment strategies are tailored for different risk appetites, with specific portfolios designed for conservative and aggressive investors [44].