🇨🇳SELF-HELP IS UNDERWAY, BUT TARIFF DRAGS ARE LIKELY ON THE WAY: GOLDMAN SACHS
CHINA EQUITY (MSCI CHINA) HAS ALMOST FULLY RECOVERED ITS POST-LIBERATION DAY DRAWDOWN OF 13% IN THE PAST 1 MONTH, AND HAS RETURNED 12% YTD. DESPITE THE UNPRECEDENTED TRADE FRICTIONS WITH THE US, CHINA'S FINANCIAL ASSETS HAVE BEEN RESILIENT SO FAR, WITH THE RMB APPRECIATING AGAINST THE USD BY 1.7% IN THE PAST MONTH, AND CHINESE GOVERNMENT BONDS RE-TESTING ALL-TIME HIGHS IN RECENT DAYS. COMMONLY CITED REASONS FOR THE RESILIENCY INCLUDE:
A) THE BROAD DOLLAR WEAKNESS;
B)SIGNS OF POTENTIAL DE-ESCALATION IN US-CHINA TRADE TENSIONS;
C) ROBUST ACTIVITY GROWTH SHOWN IN HARD DATA; AND,
D) EFFECTIVE DOMESTIC POLICY EASING.
WE STAY OVERWEIGHT CHINA EQUITY IN REGIONAL CONTEXT AND RAISE OUR 2025 INDEX EPS FORECAST AS OUR US ECONOMISTS EXPECT THE EFFECTIVE US TARIFF RATE ON CHINESE IMPORTS TO FALL FROM AROUND 160% TO AROUND 60% RELATIVELY SOON. CORRESPONDINGLY, WE NUDGE UP OUR 12 M INDEX TARGET FOR MSCI CHINA AND CSI300 TO 78 AND 4,400, IMPLYING 7% AND 15% POTENTIAL RETURNS. WE’D CONTINUE TO FOCUS ON SECTOR AND THEMATIC ALPHA IN A WHAT WE VIEW AS HIGHLY UNCERTAIN AND FAIRLY-VALUED BETA ENVIRONMENT.
#CHINA $SHCOMP $SSEC $ASHR $HSI $KWEB $FXI $HXC $DRAG $YINN $YANG @MKTNEWS24
🇨🇳GOLDMAN SACHS: CHINA STOCKS REMAIN RESILIENT, MAINTAINS "OVERWEIGHT" RATING.
#CHINA $SHCOMP$SSEC$ASHR$HSI$KWEB$FXI$HXC$DRAG$YINN$YANG@MKTNEWS24
- CN WIRE ...

<div>🇨🇳SELF-HELP IS UNDERWAY, BUT TARIFF DRAGS ARE LIKELY ON THE WAY: GOLDMAN SACHS CHINA EQUITY (MSCI CHINA) HAS ALMOST FULLY RECOVERED ITS POST-LIBERATION DAY DRAWDOWN OF 13% IN THE PAST 1 MONTH, AND HAS RETURNED 12% YTD. DESPITE THE UNPRECEDENTED TRADE FRICTIONS WITH THE US, CHINA'S FINANCIAL ASSETS HAVE BEEN RESILIENT SO FAR, WITH THE RMB APPRECIATING AGAINST THE USD BY 1.7% IN THE PAST MONTH, AND CHINESE GOVERNMENT BONDS RE-TESTING ALL-TIME HIGHS IN RECENT DAYS. COMMONLY CITED REASONS FOR THE RESILIENCY INCLUDE: A) THE BROAD DOLLAR WEAKNESS; B)SIGNS OF POTENTIAL DE-ESCALATION IN US-CHINA TRADE TENSIONS; C) ROBUST ACTIVITY GROWTH SHOWN IN HARD DATA; AND, D) EFFECTIVE DOMESTIC POLICY EASING. WE STAY OVERWEIGHT CHINA EQUITY IN REGIONAL CONTEXT AND RAISE OUR 2025 INDEX EPS FORECAST AS OUR US ECONOMISTS EXPECT THE EFFECTIVE US TARIFF RATE ON CHINESE IMPORTS TO FALL FROM AROUND 160% TO AROUND 60% RELATIVELY SOON. CORRESPONDINGLY, WE NUDGE UP OUR 12 M INDEX TARGET FOR MSCI CHINA AND CSI300 TO 78 AND 4,400, IMPLYING 7% AND 15% POTENTIAL RETURNS. WE’D CONTINUE TO FOCUS ON SECTOR AND THEMATIC ALPHA IN A WHAT WE VIEW AS HIGHLY UNCERTAIN AND FAIRLY-VALUED BETA ENVIRONMENT. #CHINA $SHCOMP $SSEC $ASHR $HSI $KWEB $FXI $HXC $DRAG $YINN $YANG <a href="https://t.me/MKTNEWS24" rel="nofollow">@MKTNEWS24</a> 🇨🇳GOLDMAN SACHS: CHINA STOCKS REMAIN RESILIENT, MAINTAINS "OVERWEIGHT" RATING. #CHINA $SHCOMP $SSEC $ASHR $HSI $KWEB $FXI $HXC $DRAG $YINN $YANG <a href="https://t.me/MKTNEWS24" rel="nofollow">@MKTNEWS24</a> - CN WIRE <a href="https://twitter.com/Sino_Market/status/1920355824247189657" rel="nofollow">...</a></div>

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🇨🇳自助正在進行中，但關稅阻力可能即將到來：高盛

中國股市（MSCI中國指數）在過去1個月中幾乎完全恢復瞭解放日後13%的回撤，今年以來已回報12%。儘管與美國的貿易摩擦前所未有，中國的金融資產迄今仍保持韌性，人民幣在過去一個月中對美元升值1.7%，中國政府債券近日重新測試歷史新高。通常被引用的韌性原因包括：

A) 美元廣泛走弱；
B) 美中貿易緊張局勢可能緩解的跡象；
C) 硬資料顯示的強勁活動增長；
D) 有效的國內政策寬鬆。

我們在區域背景下繼續看好中國股市，並提高2025年指數每股收益預測，因為我們的美國經濟學家預計美國對中國進口商品的有效關稅率將從約160%相對快速地下降到約60%。相應地，我們將MSCI中國指數和滬深300指數的12個月目標分別上調至78和4,400點，暗示有7%和15%的潛在回報。在我們認為高度不確定且相當估值的Beta環境中，我們將繼續關注板塊和主題Alpha。

#中國 $SHCOMP $SSEC $ASHR $HSI $KWEB $FXI $HXC $DRAG $YINN $YANG @MKTNEWS24
🇨🇳高盛：中國股市保持韌性，維持"增持"評級。

#中國 $SHCOMP $SSEC $ASHR $HSI $KWEB $FXI $HXC $DRAG $YINN $YANG @MKTNEWS24
- 中國通訊社...

<div>🇨🇳自助正在進行，但關稅阻力可能即將到來：高盛 中國股市（MSCI中國指數）在過去1個月中幾乎完全恢復瞭解放日後13%的回撤，今年以來已回報12%。儘管與美國的貿易摩擦前所未有，中國金融資產迄今仍保持韌性，人民幣在過去一個月對刀升值1.7%，中國政府債券近日重新測試歷史新高。普遍引用的韌性原因包括： A) 美元廣泛走弱； B) 美中貿易緊張局勢可能緩解的跡象； C) 硬資料顯示強勁的活動增長；以及 D) 有效的國內政策寬鬆。 我們在區域背景下繼續看好中國股市，並提高2025年指數每股收益預測，因為我們的美國經濟學家預計美國對中國進口商品的有效關稅率將從約160%相對迅速地下降到約60%。相應地，我們將MSCI中國指數和滬深300指數的12個月目標價分別調整至78和4,400點，暗示有7%和15%的潛在回報。在我們認為高度不確定且相當估值的Beta環境中，我們將繼續關注行業和主題Alpha。 #中國 $SHCOMP $SSEC $ASHR $HSI $KWEB $FXI $HXC $DRAG $YINN $YANG <a href="https://t.me/MKTNEWS24" rel="nofollow">@MKTNEWS24</a> 🇨🇳高盛：中國股票保持韌性，維持"增持"評級。 #中國 $SHCOMP $SSEC $ASHR $HSI $KWEB $FXI $HXC $DRAG $YINN $YANG <a href="https://t.me/MKTNEWS24" rel="nofollow">@MKTNEWS24</a> - 中國線報 <a href="https://twitter.com/Sino_Market/status/1920355824247189657" rel="nofollow">...</a></div>

加密風險投資基金 Hashed 近期發佈了一份題為《協議經濟：2026 年展望》的戰略報告，其中指出加密貨幣行業即將進入“……階段”。

哈希值：與實體經濟掛鉤的數字資產項目將在 2026 年蓬勃發展。

文章作者：林晚晚的貓(@linwanwan823)
文章來源：X
原文標題：華人首富趙長鵬年終十大問答
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BNB股東年終大會剛剛結束。
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