Morgan Asset Management: In 2025, there are sufficient reasons to continue to over-allocate US stocks. Sylvia Sheng, global multi-asset strategist of Morgan Asset Management, said that there are sufficient reasons to continue to over-allocate US stocks and increase exposure to small and medium-sized stocks. She pointed out that although the valuation may look high, it is expected that the profit growth of S&P 500 companies will continue. Sheng wrote that it is estimated that in 2025, the contribution of the six giants in the S&P 500 index to the profit growth of the other 494 stocks will be the same, and the profit growth of these six giants is expected to slow down from 40% in 2024 to 22%. In the international market, Morgan Asset Management continues to over-allocate Japanese stocks, and its quantitative model shows that the yield of Japanese stocks is attractive and the bottom-up profitability is strong.Eight-day four-board three-dimensional communication: the company's operation is normal, and the internal and external operating environment has not changed significantly. On December 9, December 10 and December 11, 2024, the company's closing price increase deviated by more than 20% for three consecutive trading days, which belongs to the abnormal fluctuation of stock trading. The company's operation is normal, and the internal and external operating environment has not changed significantly. The Company has no other circumstances that violate the provisions on fair disclosure of information.In addition to the front page content, today's People's Daily's main financial contents include: 1. Steady development of new quality productive forces-China Economic Observation in 2024 ③; 2. About 100 flying rainbow bridges built and under construction in China cross the blue ocean (new economic orientation); 3. VAT invoice data shows that the retail sales of household appliances increased by 74.4% in November. 4. The General Administration of Market Supervision regulates the whole process of business marketing behavior to prevent the waste of take-away catering; 5. China-Europe trains reach 227 cities in 25 countries in Europe, connecting more than 100 cities in 11 Asian countries, sending goods over 11 million TEUs and goods worth over 420 billion US dollars-crossing mountains and seas, and the "steel camel team" adds momentum to the world economy (building the "Belt and Road" and the first site); 6. Continue to play the role of the biggest engine of world economic growth (harmony); 7. Accelerate the arrival of "Digital Wisdom Future" (vertical and horizontal); 8. Continue to expand new consumption scenarios and new formats (everyone talks); 9. What do you think of the "China scenery" in the world economy (current economic question and answer in China)? 10. The two departments will further improve the working mechanism of centralized drug collection and implementation, and encourage the priority use of selected drugs and consumables; 11. Give full play to the role of bidding competition to help the standardized and healthy development of the bidding market (the way of governance); 12. The national economy is progressing steadily (number 2024); 13. Improve the quality and efficiency of life insurance management and do a good job in pension finance; 14. The global robot industry accelerates innovation and development (international perspective). In 2023, the number of newly installed industrial robots in China exceeded half of the world; 15. The active format of the new service consumption market characterized by digital and green is released to "new" vitality (consumption window, promoting the expansion and upgrading of service consumption); 16. Create more abundant new products for the integration of literature and tourism (market stroll); 17. CNCA issued an action plan to improve the quality management system certification of small and micro enterprises, improve product quality and increase quality supply (consumption kaleidoscope).
Details of the "Teze Meeting" exposed Trump's friendliness. Zelensky said that he wanted security. Two sources said that during his first meeting with Trump after the US election, Ukrainian President Zelensky emphasized that Ukraine needed security in any negotiations with Russia to end the conflict. French President Macron presided over the meeting in Paris. The three leaders talked for 35 minutes without a consultant, and did not discuss any specific details of the vision of peace, but four people familiar with the matter said that Trump reiterated his hope for an immediate ceasefire and a rapid end to the war through negotiations. One of the sources said that Trump was friendly, respectful and open, and seemed to be listening. A source said: "Some key points were mentioned during the meeting. For example, some people said that peace needs to be guaranteed, because a ceasefire alone is not enough. Putin may break the ceasefire again without proper guarantee as before." The source said that Trump "he is considering all the details." Several officials close to Trump said that Trump's direct contacts with Zelensky were generally cordial, which was different from some of his previous public statements, including calling Zelensky "the greatest salesman on earth" because he requested and accepted billions of dollars in US military assistance.The Bank of Korea increased its liquidity to try to calm the market sentiment, and the Bank of Korea increased its capital injection into the financial market, promising to provide "unlimited liquidity" after the political turmoil intensified. According to the website of the Bank of Korea, the liquidity increased by 14.1 trillion won ($9.8 billion) through repurchase operations last week. The scale of such operations was 18.5 trillion won in November and only 1.5 trillion won in October.Details of the "Teze Meeting" exposed Trump's friendliness. Zelensky said that he wanted security. Two sources said that during his first meeting with Trump after the US election, Ukrainian President Zelensky emphasized that Ukraine needed security in any negotiations with Russia to end the conflict. French President Macron presided over the meeting in Paris. The three leaders talked for 35 minutes without a consultant, and did not discuss any specific details of the vision of peace, but four people familiar with the matter said that Trump reiterated his hope for an immediate ceasefire and a rapid end to the war through negotiations. One of the sources said that Trump was friendly, respectful and open, and seemed to be listening. A source said: "Some key points were mentioned during the meeting. For example, some people said that peace needs to be guaranteed, because a ceasefire alone is not enough. Putin may break the ceasefire again without proper guarantee as before." The source said that Trump "he is considering all the details." Several officials close to Trump said that Trump's direct contacts with Zelensky were generally cordial, which was different from some of his previous public statements, including calling Zelensky "the greatest salesman on earth" because he requested and accepted billions of dollars in US military assistance.
Monetary policy has turned to "moderate easing", and experts say that it is expected to make greater efforts to lower the RRR and cut interest rates. The the Political Bureau of the Communist Party of China (CPC) Central Committee meeting held on December 9 changed the orientation of monetary policy from "steady" to "moderate easing" next year. Experts said that under the orientation of "moderate easing", the monetary policy space was further opened. In terms of total amount, it is more reasonable and sufficient to maintain liquidity; In terms of price, appropriately reducing the financing cost will better reflect the effectiveness of monetary policy. Next year, even greater RRR cuts and interest rate cuts can be expected. In addition to lowering the RRR and cutting interest rates, experts said that structural monetary policy tools, buying government bonds, open market buyout reverse repurchase and other operations are expected to continue to expand the scale, increase the frequency of use, and continuously enhance the effectiveness and pertinence of monetary policy. (CSI)Wells Fargo: Reduce the target price of Dow Chemical from $60 to $55, and maintain the "overweight" rating.Japanese Reuters's short-term non-manufacturing boom judgment index in December is 30, with the previous value of 19; Reuters's short-term judgment index of manufacturing prosperity in December was -1, with the previous value of 5.
Strategy guide
12-14
Strategy guide
12-14
Strategy guide 12-14
Strategy guide 12-14