中国股票策略：美国降息周期的影响-China Equity Strategy _Implication of a US rate cut cycle_ Wang_ Implication of a US rate cut cycle

ab 26 September 2025 Global Research China Equity Strategy Implication of a US rate cut cycle Lower US rates and weaker US dollar supportive for EM and Chinese equities The US Fed resumed the rate cutting cycle for the first time in nine months on 17 Sep 2025. UBS economists expect additional 25bps and 50bps cut in the upcoming Oct and Dec FOMC meetings respectively. Furthermore our FX team forecasts a weaker US dollar by year-end with USDCNY reaching 7.10. Historically EM and Chinese equities returns exhib ...