Group 1: Market Overview - Global asset performance this week shows commodities leading with a 1.67% increase, followed by stocks at 0.41%, while bonds fell by 0.11% and REITs dropped by 1.04% [3] - European stock markets rebounded, with the STOXX index up 1.77% and the French CAC40 rising 2.77%, while the US stock market remained volatile [4] - Emerging markets saw mixed results, with Brazil's IBOVESPA index hitting a record high with a 2.39% increase, while China's A-shares faced a decline of 1.08% [4] Group 2: Commodity Insights - Energy and metal prices increased, with Brent crude oil rising 1.19% to $64.39 per barrel and gold prices up 2.07% to $4,084.06 per ounce [5][10] - The US commercial crude oil inventory rose significantly by 6.41 million barrels, indicating a low inventory level compared to the past five years [9] - OPEC and other agencies have raised their 2025 global oil supply forecasts, predicting an increase in production [8] Group 3: Economic and Policy Developments - The US government shutdown has ended, with a temporary funding bill signed to keep operations running until January 30, 2026, but the shutdown is expected to reduce Q4 GDP by 1.5% [6] - Federal Reserve officials expressed hawkish views, with market expectations for a rate cut in December dropping from 66.2% to 43.2% [6] - The recent increase in mortgage delinquencies and stock market volatility may support the case for a rate cut in December [7] Group 4: REITs and Real Estate - The global REITs index fell by 0.83%, with healthcare and office sectors showing better performance compared to retail and industrial sectors [11] - US REITs reported better-than-expected revenue and profit growth for Q3, particularly in the office sector [12] - The current low-interest-rate environment is favorable for REITs, which possess both equity and bond characteristics [12] Group 5: Hong Kong Market Analysis - The Hong Kong stock market experienced fluctuations, with the Hang Seng Index down 0.92% and the technology index declining by 1.80% [13] - Despite the index performance, there was active trading with a single-day turnover of HKD 209.6 billion, indicating investor confidence [14] - High-dividend assets are favored, with the Hang Seng high-dividend index showing a yield of 6%, significantly higher than the 10-year government bond yield [14]

Group 1: Global Asset Performance - Global major asset performance this week shows stocks outperforming bonds, commodities, and REITs, with MSCI Global Stock Index rising by 0.99% [1] - Emerging markets outperformed developed markets, with MSCI Emerging Markets up by 1.15% compared to MSCI Developed Markets at 0.97% [2] Group 2: Stock Market Insights - The Hang Seng Tech Index surged by 5.09%, leading global stock indices, while the U.S. stock indices reached historical highs [2] - In developed markets, the U.S. indices (Nasdaq +2.21%, S&P 500 +1.22%, Dow Jones +1.05%) performed well, while European indices showed weakness [2] Group 3: Commodity Market Trends - Brent crude oil prices fluctuated, starting at $68.47 per barrel and settling at $66.68, reflecting a weekly decline of 0.46% [3] - Gold prices reached a new high of $3,685.30 per ounce, increasing by 1.16% this week, while silver rose by 2.13% to $43.08 per ounce [3] Group 4: Bond Market Developments - The Federal Reserve lowered the federal funds rate by 25 basis points to a range of 4.0%-4.25%, impacting U.S. Treasury yields [4][6] - European countries saw an increase in ten-year government bond yields, with the UK rising by 8.2 basis points to 4.714% [4] Group 5: Economic Data Highlights - U.S. retail sales for August increased by 0.6%, significantly above the expected 0.2%, indicating continued consumer spending [5] - The Eurozone's August CPI growth was 2.0%, slightly below the expected 2.1%, suggesting easing inflationary pressures [5] Group 6: Central Bank Decisions - The Federal Reserve's recent meeting acknowledged rising inflation levels and adjusted GDP growth forecasts upward for the next three years [6][7] - The Bank of Japan maintained its interest rates but indicated a shift in its approach by starting to reduce ETF holdings [7] Group 7: REITs Market Overview - Global REITs performance varied, with the STOXX Global 1800 REITs Index declining by 1.25%, while U.S. REITs showed positive earnings growth in various sectors [13][14] - The healthcare REITs are expected to maintain relative earnings growth advantages, while retail REITs show stable growth [13]

Group 1: Global Market Performance - The MSCI Global Stock Index decreased by 0.34%, while the Bloomberg Global Commodity Index fell by 0.42%, the Bloomberg Global Aggregate Bond Index dropped by 0.89%, and the FTSE EPRA/NAREIT Global REITs Index declined by 0.90% [1] - Emerging markets outperformed developed markets, with only the Chinese stock market rising among the BRICS nations; the Shanghai Composite Index increased by 0.82% and the Hang Seng Index rose by 0.93% [1] - In developed markets, the European STOXX Index rose by 1.15%, with Germany's DAX Index up by 1.97% and France's CAC40 Index up by 1.73%, while U.S. indices fell, with the S&P 500 down by 0.31% [1] Group 2: Commodity Market Insights - Brent crude oil futures rose by 3.02% to $70.36 per barrel, while WTI crude oil futures increased by 2.16% to $68.45 per barrel [4] - Industrial metals showed mixed performance; aluminum prices increased by 0.50%, while copper prices fell by 2.07% [2] - Gold prices rose by 0.55% to $3,355.59 per ounce, and silver prices increased by 4.02% [2] Group 3: Bond Market Developments - U.S. Treasury yields saw a slight increase, with the 10-year yield rising by 6.4 basis points to 4.411% [2] - European countries also experienced rising yields, with the UK's 10-year yield up by 3.6 basis points to 4.620% [2] - The U.S. dollar index rose by 0.69% to 97.853, while the Japanese yen depreciated by over 2% against the dollar [2] Group 4: Economic Data and Trends - U.S. initial jobless claims were reported at 227,000, slightly below expectations, while continuing claims rose to 1.965 million [3] - The Federal Reserve's June meeting minutes indicated a divergence in views on interest rate adjustments, with some members favoring rate cuts while others expressed concerns about persistent inflation [3] - The Eurozone's retail sales increased by 1.8% year-on-year, surpassing expectations [3] Group 5: REITs and Real Estate Market - The global REITs market saw a decline, with the STOXX Global 1800 REITs Index down by 1.03% [10] - U.S. REITs showed varied performance across sectors, with hotel REITs outperforming expectations [10] - The outlook for REITs remains mixed, with healthcare REITs showing consistent growth while retail REITs face volatility [10] Group 6: Investment Opportunities - Investors are advised to monitor oil price fluctuations due to geopolitical risks and OPEC+ production increases [7] - The ongoing geopolitical tensions in the Middle East may enhance gold's safe-haven appeal, prompting investors to consider gold price trends [9] - The potential for further monetary easing by central banks could create long-term investment opportunities in REITs [10]