美国最高法院判决重塑市场定价逻辑!中印出口链成最大赢家港股迎来腾飞时刻

智通财经02-23

智通财经APP获悉，在特朗普关税政策乃至美国财政部税收命运迅速发生逆转之际，那些在过去一年曾长期遭遇美国总统唐纳德·特朗普所主导的全球范围关税政策打击最重的大型经济体们，已成为美国最高法院决定推翻其紧急关税政策后最大赢家。经济学家们的最新测算数据显示，亚洲加权平均关税率将从20%降至17%，美国政府对所有进口/所有贸易伙伴加总后的整体“平均有效关税率”测算口径层面而言，平均有效关税率已经降至4月“...

网页链接

免责声明：本文观点仅代表作者个人观点，不构成本平台的投资建议，本平台不对文章信息准确性、完整性和及时性做出任何保证，亦不对因使用或信赖文章信息引发的任何损失承担责任。

精彩评论

我们需要你的真知灼见来填补这片空白

发表看法

{"i18n":{"language":"zh_CN"},"isChannel":false,"data":{"share":"https://www.laohu8.com/m/news/2613520029?lang=zh_CN&edition=full","thumbnail":"","is_english":false,"pubTime":"2026-02-23 16:36","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2613520029","market":"fut","top_or_hot":-1,"title":"美国最高法院判决重塑市场定价逻辑!中印出口链成最大赢家 港股迎来腾飞时刻","media":"智通财经","content":"<div>\n<p>智通财经APP获悉，在特朗普关税政策乃至美国财政部税收命运迅速发生逆转之际，那些在过去一年曾长期遭遇美国总统唐纳德·特朗普所主导的全球范围关税政策打击最重的大型经济体们，已成为美国最高法院决定推翻其紧急关税政策后最大赢家。经济学家们的最新测算数据显示，亚洲加权平均关税率将从20%降至17%，美国政府对所有进口/所有贸易伙伴加总后的整体“平均有效关税率”测算口径层面而言，平均有效关税率已经降至4月“...</p>\n\n<a href=\"http://www.zhitongcaijing.com/content/detail/1406313.html\">网页链接</a>\n\n</div>\n","source":"stock_zhitongcaijing","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>美国最高法院判决重塑市场定价逻辑!中印出口链成最大赢家 港股迎来腾飞时刻</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n美国最高法院判决重塑市场定价逻辑!中印出口链成最大赢家 港股迎来腾飞时刻\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-02-23 16:36 北京时间&nbsp;&nbsp;&nbsp;<a href=http://www.zhitongcaijing.com/content/detail/1406313.html><strong>智通财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>智通财经APP获悉，在特朗普关税政策乃至美国财政部税收命运迅速发生逆转之际，那些在过去一年曾长期遭遇美国总统唐纳德·特朗普所主导的全球范围关税政策打击最重的大型经济体们，已成为美国最高法院决定推翻其紧急关税政策后最大赢家。经济学家们的最新测算数据显示，亚洲加权平均关税率将从20%降至17%，美国政府对所有进口/所有贸易伙伴加总后的整体“平均有效关税率”测算口径层面而言，平均有效关税率已经降至4月“...</p>\n\n<a href=\"http://www.zhitongcaijing.com/content/detail/1406313.html\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0865486749.SGD","symbol_name":"Eastspring Investments - Asian Equity Income AS SGD-H","start_time":0,"source_url":"http://www.zhitongcaijing.com/content/detail/1406313.html","article_id":"2613520029","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2613520029","pubTimestamp":1771835763,"columns":[],"sourceInfo":{"source_id":"stock_zhitongcaijing","name":"智通财经网"},"weMediaInfo":null,"summary":"智通财经APP获悉，在特朗普关税政策乃至美国财政部税收命运迅速发生逆转之际，那些在过去一年曾长期遭遇美国总统唐纳德·特朗普所主导的全球范围关税政策打击最重的大型经济体们，已成为美国最高法院决定推翻其紧急关税政策后最大赢家。在最高法院推翻IEEPA关税之后，中国密切关注特朗普政府新贸易举措在美国最高法院驳回特朗普的紧急征税后，包括中国、印度和","collect":0,"end_time":0,"defaultTopTitle":"zhitongcaijing.com","property":[],"viewcount":null,"language":"zh","relate_stocks":{"688981":"中芯国际","LU0865486749.SGD":"Eastspring Investments - Asian Equity Income AS SGD-H","LU0431992006.USD":"摩根大通新兴市场机会A（acc）","LU0918141705.HKD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AM\" (HKD) INC","LU0648948544.HKD":"ALLIANZ ASIAN MULTI INCOME PLUS \"AM\" (HKD) INC","LU1794554557.SGD":"Allianz All China Equity AT Acc H2-SGD","HK0000352291.HKD":"VALUE PARTNERS ASIAN INCOME \"A\" (HKD) INC","LU0169518387.USD":"JPM ASIA EQUITY \"A\" ACC","LU0469268626.HKD":"AB FCP I-ASIA EX JAPAN EQUITY PTF(AD","HK0000352382.USD":"VALUE PARTNERS ASIAN INCOME \"A\" (USD) INC","IE0032834883.USD":"FSSA ASIAN EQUITY PLUS \"I\" (USD) INC","SG9999001689.USD":"施罗德亚洲成长股票","IE00B8L5B284.USD":"BNY MELLON GLOBAL EMERGING MARKETS OPPORTUNITIES \"B\" (USD) INC","SGXZ51526630.SGD":"大华环球创新基金A Acc SGD","LU0675040207.SGD":"JPM ASIA PACIFIC EQUITY \"A\" (SGD) ACC","LU0441854154.USD":"JPM ASIA PACIFIC EQUITY \"A\" (USD) ACC","LU0029874905.USD":"TEMPLETON EMERGING MARKETS \"A\" INC","LU1655091459.SGD":"JPM ASIA PACIFIC INCOME \"A\" (SGD) INC A","LU0210527791.USD":"JPM ASIA PACIFIC INCOME \"A\" (USD) ACC","LU0117844026.USD":"JPM ASIA PACIFIC INCOME \"A\" (USD) INC","LU1981816686.USD":"EASTSPRING INV ASIAN MULTI FACTOR EQUITY \"A\" (USD) ACC","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","LU0784639295.USD":"JPM ASIA PACIFIC INCOME \"A\" (USD) INC (M)","LU0370786039.SGD":"Fidelity Greater China A-SGD","LU0051755006.USD":"摩根大通中国A (dist)","LU1917777945.USD":"安联专题基金Cl AT Acc","BK1517":"云办公","LU0326950275.SGD":"Schroder ISF China Opportunities A Acc SGD-H","LU0210526637.USD":"JPM CHINA \"A\" (USD) ACC","IE00B543WZ88.USD":"NEUBERGER BERMAN CHINA EQUITY \"A\" (USD) ACC","LU1366334578.USD":"ALLSPRING EMERGING MARKETS EQUITY INCOME \"A\" (USD) INC","BK1516":"腾讯概念","LU0516423091.SGD":"FULLERTON LUX FUNDS - ASIA FOCUS EQUITIES \"I\" (SGD) ACC","LU1804176565.USD":"EASTSPRING INV GLOBAL GROWTH EQUITY \"A\" (USD) ACC","IE00BQXX3D17.EUR":"GUINNESS GLOBAL INNOVATORS \"C\" (EUR) ACC","LU0862451837.USD":"JPM EMERGING MARKETS DIVIDEND \"A\" (USD) INC (M)","LU2051468812.USD":"JPM EMERGING MARKETS ESG EQUITY \"A\" (USD) ACC","IE00BQXX3C00.GBP":"GUINNESS GLOBAL INNOVATORS \"C\" (GBP) ACC","IE00BQXX3F31.USD":"GUINNESS GLOBAL INNOVATORS \"C\" (USD) ACC","LU0140636845.USD":"施罗德大中华区股票A Acc","BK1589":"北水核心资产","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","LU0633140560.USD":"AB EMERGING MARKET MULTI ASSET PORTFOLIO \"A\" (USD) ACC","LU1242518931.SGD":"Fullerton Lux Funds - Asia Absolute Alpha A Acc SGD","LU0106259558.USD":"SCHRODER ISF ASIAN OPPORTUNITIES \"A\" ACC","LU2237443895.HKD":"abrdn SICAV I -  GLOBAL DYNAMIC DIVIDEND \"A\" (HKD) ACC","LU0577902371.SGD":"FULLERTON LUX FUNDS - ASIA GROWTH & INCOME EQUITIE \"I\" (SGD) ACC","SG9999002463.SGD":"LionGlobal China Growth SGD","LU1008478684.HKD":"UBS (LUX) EQUITY FUND -  CHINA OPPORTUNITY \"P\" (HKD) ACC","IE0008368742.USD":"首域中国增长基金I Acc","SG9999000418.SGD":"Aberdeen Standard Global Technology SGD","LU0633140727.USD":"AB EMERGING MARKETS MULTI ASSET PORTFOLIO \"AD\" (USD) INC","00700":"腾讯控股","LU0588545490.SGD":"Eastspring Investments - Asian Equity Income AS SGD","LU0488056044.USD":"Allianz Asian Multi Income Plus Cl AM DIS USD","IE00BGV7N243.SGD":"FSSA Global Emerging Markets Focus I Acc SGD","LU2265009873.SGD":"Eastspring Investments - Global Growth Equity AS SGD-H","BK1586":"云计算","LU0307460666.USD":"EASTSPRING INVESTMENTS CHINA EQUITY \"A\" ACC","LU0786609619.USD":"高盛全球千禧一代股票组合Acc","SG9999003461.SGD":"United Asia Pacific Infrastructure SGD","LU0577902538.SGD":"Fullerton Lux Funds - Asia Growth and Income Equities A Acc SGD","LU0588546209.SGD":"Eastspring Investments - China Equity Fund AS SGD","LU0856984785.SGD":"HSBC GIF MANAGED SOLUTIONS ASIA FOCUSED GROWTH \"ACH\" (SGDHDG) ACC","BK1526":"科网股","LU0605514214.HKD":"FIDELITY CHINA CONSUMER \"A\" (HKD) ACC","LU0348805143.USD":"ALLIANZ ENHANCED ALL CHINA EQUITY \"A\" (USD) INC","LU0797268264.HKD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AT\" (HKD) ACC","LU0210533765.USD":"JPM GLOBAL GROWTH \"A\" (USD) ACC","LU0791590937.USD":"ALLSPRING  EMERGING MARKTES EQUITY INCOME \"A\" (USD)","LU1235295612.USD":"FIDELITY PACIFIC \"A\" (USDHDG) INC","LU1282649810.SGD":"Allianz Asian Multi Income Plus Cl AMg DIS H2-SGD","09988":"阿里巴巴-W","LU0080751232.USD":"富达环球多元动力基金A","LU0345769128.USD":"NINETY ONE GSF GLOBAL EQUITY \"A\" (USD) ACC","LU1196710351.USD":"SCHRODER ISF EMERGING MARKETS MULTI-ASSET \"A\" (USD) INC MF","LU0359201885.HKD":"BGF CHINA \"A2\" (HKD) ACC","BK1521":"挪威政府全球养老基金持仓","LU0070217475.USD":"JPM GLOBAL SELECT EQUITY \"A\" ACC","LU1196710195.USD":"SCHRODER ISF EMERGING MARKETS MULTI-ASSET \"A\" (USD) ACC","LU0117841782.USD":"JPM GREATER CHINA \"A\" (USD) INC","LU0345769631.USD":"NINETY ONE GSF GLOBAL EQUITY \"A\" (USD) INC","LU0235996351.USD":"UBS (LUX) KEY SELECTION SICAV - ASIAN EQUITY (USD) \"P\" (USD) ACC","LU0417516738.SGD":"Allianz Hong Kong Equity AT Acc SGD","LU1956131251.USD":"BNP PARIBAS SUSTAINABLE ASIA EX-JAPAN EQUITY \"C\"MD (USD) INC","SG9999002828.SGD":"Eastspring Investments Unit Trusts - Dragon Peacock A SGD","LU1814569148.SGD":"WELLINGTON GLOBAL QUALITY GROWTH \"D\" (SGDHDG) ACC","LU0594300419.USD":"富达中国消费基金A","SG9999015952.SGD":"LIONGLOBAL DISRUPTIVE INNOVATION \"I\" (SGD) ACC","SG9999014906.USD":"大华全球优质成长基金Acc USD","LU1316542783.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD","LU0516422440.USD":"FULLERTON LUX FUNDS - ASIA FOCUS EQUITIES \"A\" (USD) ACC","IE0008369823.USD":"FSSA HONG KONG GROWTH \"I\" ACC","LU1242518857.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"I\" (USD) ACC","LU1993786604.SGD":"UBS (LUX) EQUITY SICAV ALL CHINA \"P\" (SGD) ACC","LU0823413660.USD":"BNP PARIBAS EMERGING EQUITY \"C\" (USD) INC","LU0608807433.USD":"TEMPLETON EMERGING MARKETS DYNAMIC INCOME \"A\" (USD) ACC","SPY":"标普500ETF","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","LU2148510915.USD":"FULLERTON LUX FUNDS - CHINA A EQUITIES \"R\" (USD) ACC","LU0672654166.SGD":"FTIF - Templeton Asian Growth A (acc) SGD-H1","LU1328615791.USD":"FULLERTON LUX FUNDS - ALL CHINA EQUITIES \"I\" (USD) ACC","LU1282649141.HKD":"ALLIANZ ASIAN MULTI INCOME PLUS \"AMG\" (HKD) INC","LU1044876610.USD":"THREADNEEDLE (LUX) ASIAN CONTRARIAN EQUITY \"ZU\" (USD) ACC","LU0543330483.HKD":"TEMPLETON ASIAN GROWTH \"A\" (HKD) ACC","LU0594300179.USD":"FIDELITY CHINA CONSUMER \"A\" (USD) ACC","IE00BF5LJ272.USD":"Legg Mason Martin Currie - Global Emerging Markets A Acc USD","LU1642822792.SGD":"THREADNEEDLE (LUX) ASIAN CONTRARIAN EQUITY \"A\" (SGD) ACC","LU2362540622.SGD":"WELLINGTON NEXT GENERATION GLOBAL EQUITY \"A\" (SGDHDG) ACC","LU2476274308.USD":"ALLIANZ CHINA FUTURE TECHNOLOGIES \"AT\" (USD) ACC","LU0084288322.USD":"Natixis Asia Equity RD USD","SG9999006514.SGD":"United Asia Consumer Fund SGD","LU0143863784.USD":"CT (LUX) I GLOBAL EMERGING MARKET EQUITIES\"DU\" (USD) ACC","LU0327786744.USD":"Janus Henderson Horizon China Opportunities A2 USD","LU0541501648.USD":"ALLSPRING  EMERGING MARKETS EQUITY \"A\" (USD) ACC","LU1974910355.USD":"Allianz Thematica Cl AMg DIS USD","LU0188438112.USD":"SCHRODER ISF ASIAN EQUITY YIELD \"A\" ACC","LU2362541273.HKD":"WELLINGTON NEXT GENERATION GLOBAL EQUITY \"A\" (HKD) ACC","IE00B031J352.USD":"FSSA GREATER CHINA GROWTH \"I\" (USD) INC","LU0143863198.USD":"CT (LUX) I GLOBAL EMERGING MARKET EQUITIES\"AU\" (USD) ACC","LU1880383366.USD":"东方汇理中国股票基金 A2 (C)","LU0359202008.SGD":"Blackrock China Fund A2 SGD-H","LU2362541513.USD":"WELLINGTON NEXT GENERATION GLOBAL EQUITY \"A\" (USD) ACC","IE00B3M56506.USD":"NEUBERGER BERMAN EMERGING MARKETS EQUITY \"A\" (USD) ACC","IE00B97KM107.HKD":"FSSA ASIAN EQUITY PLUS \"I\" (HKD) ACC","SG9999006597.SGD":"United China-India Dynamic Growth SGD","00981":"中芯国际","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","IE0001KFT4U8.USD":"FTGF CLEARBRIDGE GLOBAL GROWTH LEADERS \"A\" (USD) INC","IE00B5MMRT66.SGD":"NEUBERGER BERMAN CHINA EQUITY \"A\" (SGDHDG) ACC","LU0345776255.USD":"NINETY ONE GSF ASIAN EQUITY \"A\" (USD) INC","LU0708995153.HKD":"TEMPLETON EMERGING MARKETS \"A\" (HKD) ACC","LU0516423174.USD":"FULLERTON LUX FUNDS - ASIA FOCUS EQUITIES \"I\" (USD) ACC","LU0516422952.EUR":"FULLERTON LUX FUNDS - ASIA FOCUS EQUITIES \"I\" (EUR) ACC","LU0203347892.USD":"SCHRODER ISF QEP GLOBAL ACTIVE VALLUE \"A\" (USD)  INC AV","LU0417516571.SGD":"Allianz Oriental Income Cl AT Acc SGD","LU0509642566.USD":"SCHRODER ISF GLOBAL EMERGING MARKET OPPORTUNITIES \"A\" (USD) INC AV","LU0501845795.SGD":"瑞银大中华区股票基金P Acc SGD","LU0269904917.USD":"SCHRODER ISF GLOBAL EMERGING MARKET OPPORTUNITIES \"A\" (USD) ACC","IE00B29SXG58.USD":"FSSA CHINA FOCUS \"I\" (USD) ACC","LU0878004406.USD":"UBS (LUX) KEY SELEC ASIA ALLOCATION OPPORTUNITY (USD) \"P\" (USD) INC","LU1688375341.USD":"贝莱德中国灵活股票基金","LU0882747503.HKD":"UBS (LUX) KEY SELEC ASIA ALLOCATION OPPORTUNITY (USD) \"P\" (HKD) INC","LU0096374516.USD":"CT (LUX) I ASIA EQUITY INCOME \"DU\" (USD) ACC","LU0214875030.USD":"HSBC GIF BRIC EQUITY \"M2C\" (USD) ACC","BK1095":"互动媒体与服务","LU0061477393.USD":"CT (LUX) I ASIA EQUITY INCOME \"AU\" (USD) ACC","LU0181495838.USD":"施罗德新兴亚洲A Acc","LU0261947096.USD":"FIDELITY FUNDS  SUSTAINABLE ASIA EQUITY \"A\" (USD) ACC","LU0348784397.USD":"ALLIANZ ORIENTAL INCOME \"A\" (USD) ACC","IE00B0JY6N72.USD":"PINEBRIDGE GLOBAL EMERGING MARKETS FOCUS EQUITY \"A\" (USD) ACC","BK4585":"ETF&股票定投概念",".SPX":"S&P 500 Index","LU1769817096.USD":"UBS (LUX) EQUITY SICAV - GLOBAL EMERG MARKETS OPPO \"P\" (USD) INC","LU2177674079.SGD":"Fidelity Asia Pacific Opportunities A-ACC-SGD (hedged)","LU1769817179.HKD":"UBS (LUX) EQUITY SICAV - GLOBAL EMERG MARKETS OPPO \"P\" (HKD) INC","BK1609":"ChatGPT概念","LU0607220059.USD":"SCHRODER ISF HONG KONG EQUITY \"A\" (USD) ACC","LU0251144936.SGD":"Fidelity Sustainable Asia Equity A-SGD","BK1531":"手游股","LU0543330566.HKD":"TEMPLETON BRIC \"A\" (HKD) ACC","HK0000914686.HKD":"GFI Global Select Equity Fund Class A (HKD)","BK4588":"碎股","IE00BPRC5H50.USD":"NEUBERGER BERMAN CHINA EQUITY \"A\" (USD) INC","LU1102505762.USD":"富达新兴市场焦点 A","LU0175139822.USD":"AB FCP I Global Equity Blend A USD","LU0173614495.USD":"富达中国焦点A","HK0000914660.USD":"GFI Global Select Equity Fund Class A (USD)","LU0650527681.SGD":"Fidelity China Consumer A-SGD","BK1610":"ETF&股票定投概念","SG9999014898.SGD":"United Global Quality Growth Fund Dis SGD","LU0192582467.USD":"SCHRODER ISF ASIAN EQUITY YIELD \"A\" (USD) INC MF","SG9999001051.SGD":"United Asia Fund SGD","LU1961090484.USD":"ALLIANZ ALL CHINA EQUITY \"A\" (USD) INC","SG9999018865.SGD":"United Global Quality Growth Fd Cl Dist SGD-H","LU2045819591.USD":"Natixis WCM Global Emerging Markets Equity R/A USD","LU1211504680.USD":"ALLIANZ HIGH DIVIDEND ASIA PACIFIC EQUITY \"AM\" (USD) INC","LU2125910849.SGD":"Natixis WCM Global Emerging Markets Equity R/A SGD","LU1226288253.USD":"UBS (LUX) KEY SELECTION SICAV - CHINA ALLOCATION  OPPORTUNITY (USD) \"P\" (USD) INC","LU1282649067.USD":"ALLIANZ ASIAN MULTI INCOME PLUS \"AMG\" (USD) INC A","LU2106854487.HKD":"ALLIANZ THEMATICA \"AMG\" (HKD) INC","LU0106959298.USD":"UBS (LUX) EQUITY FUND - EMERGING MARKETS SUSTAINABLE LEADERS (USD) \"P\" (USD) ACC","LU0149534421.HKD":"SCHRODER ISF HONG KONG EQ \"A\" ACC","LU2125910500.SGD":"Natixis WCM Global Emerging Markets Equity H-R/A SGD","LU0499858438.USD":"NINETY ONE GSF ASIA PACIFIC EQUITY OPPORTUNITIES \"A\" (USD) INC","LU0572940350.SGD":"Janus Henderson Horizon Asian Dividend Income A3 SGD","SG9999018857.SGD":"United Global Quality Growth Fd Cl Acc SGD-H","LU1226287792.SGD":"UBS (LUX) KEY SEL S-CHINA ALLOCATION OPP \"P\" (SGDHDG) INC","LU1734074674.USD":"NINETY ONE GSF ASIA PACIFIC FRANCHISE \"A\"(USD) ACC","SG9999001226.SGD":"UNITED SUSTAINABLE ASIA TOP 50 \"A\" (SGD) ACC","IE00B0169L03.USD":"FSSA ASIA FOCUS FUND \"I\" (USD) ACC","SG9999007991.SGD":"Schroder Asian Income A Dis SGD","SG9999000327.SGD":"Schroder Asian Growth A Dis SGD","LU0326948709.USD":"SCHRODER ISF ASIAN TOTAL RETURN \"A\" (USD) ACC","BABA":"阿里巴巴","LU0264606111.USD":"Janus Henderson Horizon Asian Dividend Income A2 USD","LU0320764755.SGD":"FTIF - Templeton Asian Growth A Acc SGD","LU0828237510.HKD":"SCHRODER ISF BIC (BRAZ IN CH)\"A\" (HKD) ACC","LU1629966141.USD":"Aberdeen Standard SICAV I - Asia Pacific Multi Asset A Acc USD","SG9999015986.USD":"LIONGLOBAL DISRUPTIVE INNOVATION \"I\" (USD) ACC","LU0228659784.USD":"施罗德金砖四国基金","LU0328353924.USD":"UBS (LUX) EQUITY SICAV - GLOBAL EMERGING MARKETS OPPORTUNITY (USD) \"P\" (USD) ACC","LU1064130708.USD":"FULLERTON LUX FUNDS - CHINA A EQUITIES \"I\" (USD) ACC","LU0516422366.SGD":"Fullerton Lux Funds - Asia Focus Equities A Acc SGD","LU2462611646.USD":"AMUNDI FUNDS REAL ASSETS TARGET INCOME \"A2\" (USD) INC MTI","LU0054237671.USD":"FIDELITY ASIAN SPECIAL SITUATIONS \"A\" INC","LU1481107354.HKD":"HSBC GIF HONG KONG EQUITY \"AD\" (HKD) INC","LU0572944931.SGD":"Janus Henderson Horizon China Opportunities A2 SGD","LU0449509016.USD":"HSBC GIF BRIC EQUITY \"AC\" (USD) ACC","LU0880133367.SGD":"UBS (LUX) EQUITY FUND CHINA OPPORTUNITY USD \"P\" (SGD) ACC","LU0823426308.USD":"法巴中国股票基金","LU0572939691.SGD":"Janus Henderson Horizon Asian Dividend Income A2 SGD","LU1868837565.USD":"CT (LUX) I GLOBAL EMERGING MARKET EQUITIES \"1\" (USD) ACC","LU1733274473.HKD":"TEMPLETON EMERGING MARKETS DYNAMIC INCOME \"A\" (HKD) INC","SG9999013353.USD":"SCHRODER ASIAN INCOME FUND\"A\" (USDHDG) INC","LU1044874839.SGD":"THREADNEEDLE (LUX) ASIAN CONTRARIAN EQUITY \"AGH\" (SGDHDG) ACC","LU1733274390.USD":"TEMPLETON EMERGING MARKETS DYNAMIC INCOME \"A\" (USD) INC","LU0348814723.USD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"A\" (USD) INC  NC","LU0708995583.HKD":"TEMPLETON CHINA \"A\" (HKD) ACC","LU1102505929.USD":"FIDELITY SUSTAINABLE EMERGING MARKETS EQUITY  \"A\" (USD) ACC","LU0417516902.SGD":"Allianz China Equity Cl AT Acc SGD","LU1813983027.USD":"MANULIFE GF DRAGON GROWTH \"AA\" (USD) INC","SG9999015978.USD":"利安颠覆性创新基金A","IE0008368411.USD":"FSSA ASIAN GROWTH \"I\" (USD) ACC","LU1282651121.HKD":"ALLIANZ GEM EQUITY HIGH DIVIDEND \"AMG\" (HKD) INC","LU2399975544.HKD":"ALLIANZ ALL CHINA EQUITY \"AT\" (HKD) ACC","IE00B031HW06.USD":"FSSA ASIAN GROWTH \"I\" (USD) INC","LU0823426480.USD":"法巴中国股票经典Dis","HK0000306685.HKD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (HKD) INC","LU0577902611.USD":"FULLERTON LUX FUNDS - ASIA GROWTH & INCOME EQUITIE \"A\" (USD) ACC","LU0737861699.HKD":"FIDELITY CHINA FOCUS \"A \" (HKD) ACC","LU0651946864.USD":"贝莱德新兴市场股票收益A2","BK1618":"Manus概念股","LU0049853897.USD":"SCHRODER ISF EMERGING MARKETS \"A\" (USD) INC AV","LU0054450605.USD":"HSBC GIF GLOBAL EMERGING MARKTS EQ \"AD\" INC","LU1051768304.USD":"贝莱德新兴市场股票收益A6","SG9999014674.SGD":"Nikko AM All China Equity A SGD","LU0049112450.USD":"FIDELITY PACIFIC \"A\" INC","LU0540923850.HKD":"ALLIANZ HONG KONG EQUITY \"A\" (HKD) INC","LU2023250504.SGD":"Allianz Thematica Cl AMg DIS H2-SGD","LU1880383440.USD":"AMUNDI FUNDS CHINA EQUITY \"A2\" (USD) INC","LU1515016050.SGD":"Blackrock Emerging Markets Equity Income A6 SGD-H","LU1226287529.USD":"UBS (LUX) KEY SELECTION SICAV - CHINA ALLOCATION  OPPORTUNITY (USD) \"P\" (USD) ACC","HK0000306701.USD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (USD) INC","LU0634319403.HKD":"ALLIANZ HONG KONG EQUITY \"AT\" (HKD) ACC","BK1615":"港股-互联网","LU2097828557.USD":"AZ EQUITY CHINA \"A\" (USD) ACC","LU0384037296.USD":"ALLIANZ ASIAN MULTI INCOME PLUS \"AT\" (USD) ACC","LU2097828631.EUR":"AZ EQUITY CHINA \"A\" (EUR) ACC","LU1568876335.HKD":"ALLIANZ CHINA MULTI INCOME PLUS \"AMG\" (HKD) INC","LU1568876251.USD":"ALLIANZ CHINA MULTI INCOME PLUS \"AMG\" (USD) INC","LU0823040885.USD":"东方汇理新兴市场焦点股票基金","LU2097828714.EUR":"AZ EQUITY CHINA \"BAZ\" (EUR) ACC","LU0229945570.USD":"TEMPLETON BRIC \"A\" (USD) ACC","LU2097828805.USD":"AZ EQUITY CHINA \"A-AZ\" (USD) ACC","LU1064131003.USD":"FULLERTON LUX FUNDS - CHINA A EQUITIES \"A\" (USD) ACC","LU1675838814.USD":"AB SICAV I - EMERGING MARKETS LOW VOLATILITY EQUITY PORTFOLIO \"AD\" (USD) INC","LU0577902298.EUR":"FULLERTON LUX FUNDS - ASIA GROWTH & INCOME EQUITIE \"I\" (EUR) ACC","LU0396098781.USD":"ALLIANZ CHINA MULTI INCOME PLUS \"AT\" (USD) ACC","LU1224444064.USD":"ALLIANZ GEM EQUITY HIGH DIVIDEND \"AM\" (USDHDG) INC","LU0048580855.USD":"富达大中华区A","LU2097828474.EUR":"AZ EQUITY CHINA \"A\" (EUR) ACC A","LU0873338254.USD":"FULLERTON LUX FUNDS - ASIA GROWTH & INCOME EQUITIE \"I\" (USD) INC","LU2242644610.SGD":"Fidelity China Innovation A-ACC-SGD","LU0203345920.USD":"SCHRODER ISF QEP GLB ACT. VL \"A\" (USD) ACC","LU0449515922.USD":"HSBC GIF GLOBAL EMERGING MARKETS EQUITY \"PC\" (USD)ACC","SG9999004220.SGD":"Nikko AM Shenton Asia Dividend Equity Fund  SGD","IE0009570106.USD":"FSSA ASIA OPPORTUNITIES \"I\" (USD) ACC","IE0034224299.USD":"PINEBRIDGE ASIA EX JAPAN EQUITY \"A\" (USD) ACC","LU2237443465.HKD":"abrdn SICAV I -  GLOBAL DYNAMIC DIVIDEND \"A\" (HKD) INC","LU0211331839.USD":"FRANKLIN MUTUAL GLB DISCOVERY \"A\" (USD) ACC","LU1224709979.USD":"FIDELITY CHINA FOCUS \"A\" (USD) ACC","LU1720050803.USD":"安联全方位中国股票基金","LU0231483743.USD":"abrdn SICAV I - ALL CHINA SUSTAINABLE EQUITY \"A\" (USD) ACC","LU0149721374.USD":"HSBC GIF HONG KONG EQUITY \"AD\" INC","LU1718418525.SGD":"JPMorgan Investment Funds - Global Select Equity A (acc) SGD","LU1770034418.SGD":"ALL CHINA EQUITY \"A\" (SGDHDG) ACC","LU2087589342.USD":"BGF ASIAN MULTI-ASSET INCOME \"A6\" (USD) INC","LU2133065610.SGD":"JPMorgan Investment Funds - Global Dividend A (mth) SGD","LU0823041008.USD":"AMUNDI FUNDS EMERGING WORLD EQUITY \"A2\" (USD) ACC","BK1591":"就地过年概念","LU0823038988.USD":"AMUNDI FUNDS ASIA EQUITY FOCUS  \"A2\" (USD) ACC","LU0132412106.USD":"abrdn SICAV I - EMERGING MARKETS EQUITY \"A\" (USD) ACC","SGXZ90724238.SGD":"UNITED ASIA \"A\" (SGD) INC","LU0823039010.USD":"AMUNDI FUNDS ASIA EQUITY FOCUS  \"A2\" (USD) INC","LU1439102457.SGD":"Fidelity Asia Pacific Multi Asset Growth & Income A-MINCOME(G)-SGD","LU1196710864.SGD":"Schroder ISF Emerging Markets Multi-Asset A Dis SGD-H","LU0047713382.USD":"BGF EMERGING MARKETS \"A2\" ACC","LU1439103000.SGD":"Fidelity Greater China Multi Asset Growth & Income A-MINCOME(G)-SGD","LU0499858602.USD":"NINETY ONE GSF ASIA PACIFIC EQUITY OPPORTUNITIES \"A\" (USD) ACC","LU1868838027.USD":"CT (LUX) I GLOBAL EMERGING MARKET EQUITIES \"8\" (USD) ACC","IE00B0169N27.USD":"STEWARD INVESTORS GLOBAL EMERGING MARKETS LEADERS \"I\" (USD) ACC","LU0261950983.USD":"FIDELITY ASIAN SPECIAL SITUATIONS \"A\" ACC","LU1051769294.HKD":"BGF EMERGING MARKETS EQUITY INCOME \"A6\"(HKDHDG) INC","LU0577902454.USD":"FULLERTON LUX FUNDS - ASIA GROWTH & INCOME EQUITIE \"I\" (USD) ACC","LU0244354667.USD":"SCHRODER ISF CHINA OPPORTUNITIES \"A\" ACC","LU1366334651.USD":"ALLSPRING EMERGING MARKETS EQUITY INCOME \"I\" (USD) INC","LU1048588211.SGD":"Blackrock Asian Dragon A2 SGD-H","LU1770036033.HKD":"NINETY ONE GSF ASIAN EQUITY \"A\" (HKD) ACC","LU0819121731.USD":"HSBC GIF MANAGED SOLUTIONS ASIA FOCUSED GROWTH \"AC\" (USD) ACC","LU0072462343.USD":"贝莱德亚洲巨龙基金","LU1868837722.USD":"CT (LUX) I GLOBAL EMERGING MARKET EQUITIES \"2\" (USD) ACC","IE00B031HY20.USD":"FSSA CHINA GROWTH \"I\" (USD) INC","LU2279701549.SGD":"JPMorgan Funds - Emerging Markets Sustainable Equity A (acc) SGD","LU2257852520.SGD":"JPMorgan Funds - Asia Growth A (acc) SGD","LU2317271919.USD":"BGF FUTURE CONSUMER \"A2\" (USD) ACC","LU1810669033.SGD":"FTIF - Templeton Emerging Markets Dynamic Income A (Mdis) SGD-H1","LU0320764599.SGD":"FTIF - Templeton China A Acc SGD","LU0871576103.HKD":"HSBC GIF CHINESE EQUITY \"AC\" (HKD) ACC","HK0000320223.HKD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (HKD) ACC","LU2476274720.SGD":"ALLIANZ CHINA FUTURE TECHNOLOGIES \"AT\" (SGDHDG) ACC","LU0287142896.SGD":"Fidelity China Focus A-SGD","LU0348783662.USD":"ALLIANZ ORIENTAL INCOME \"A\" (USDHDG) INC","LU1044875133.USD":"天利亚洲反向股票 AU Acc","LU0821914370.USD":"贝莱德亚洲成长领袖A2","IE0031814852.USD":"FSSA GREATER CHINA GROWTH \"I\" (USD) ACC","LU0502904849.HKD":"FIDELITY FUNDS  CHINA INNOVATION \"A\" (HKD) ACC","LU0651947912.USD":"BGF EMERGING MARKETS EQUITY INCOME \"A5G\" (USD) INC","LU1807302812.USD":"UBS (LUX) EQUITY SICAV ALL CHINA \"P\" (USD) ACC","LU0823397103.USD":"BNP PARIBAS SUSTAINABLE ASIA EX-JAPAN EQUITY \"C\" (USD) ACC","LU0029875118.USD":"TEMPLETON ASIAN GROWTH \"A\" INC","HK0000320264.USD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (USD) ACC","LU0259732245.USD":"EASTSPRING INVESTMENTS DRAGON PEACOCK A","LU0828237940.HKD":"SCHRODER ISF EMERGING ASIA \"A\" (HKD) ACC","IE00B067MR52.USD":"FSSA ASIAN EQUITY PLUS \"I\" (USD) ACC","LU0043850808.USD":"HSBC GIF ASIA EX JAPAN EQUITY \"AD\" INC","LU0541502299.USD":"ALLSPRING  EMERGING MARKETS EQUITY \"I\" (USD) ACC","LU0819123356.HKD":"HSBC GIF MANAGED SOLUTIONS ASIA FOCUSED GROWTH \"AC\" (HKD) ACC","LU1328277881.USD":"MANULIFE GF DRAGON GROWTH FUND \"AA\" (USD) INC","LU0414403682.SGD":"Blackrock Asia Pacific Equity Income A5 SGD-H","LU2449936058.SGD":"SUSTAINABLE ASIA EQUITY \"AA\" (SGD) ACC","LU0823397285.USD":"BNP PARIBAS SUSTAINABLE ASIA EX-JAPAN EQUITY \"C\" (USD) INC","SG9999017495.SGD":"UGDP UNITED GLOBAL QUALITY GROWTH \"B\" (SGD) ACC","LU0738912210.USD":"Blackrock Asia Pacific Equity Income A6 USD","LU0314109678.HKD":"MANULIFE GF DRAGON GROWTH \"AA\" (HKD) INC","LU0048388663.USD":"SCHRODER ISF ASIAN OPPORTUNITIES \"A\" (USD) INC AV","LU0683595622.HKD":"AB SICAV I-EM.MKTS MUL.ASS.PTF(AD)","LU0828238088.HKD":"SCHRODER ISF GLBL EMGNG MKT OPPS \"A\" (HKD) ACC","LU1023057109.AUD":"BGF CHINA \"A2\" (AUDHDG) ACC","LU0700851271.USD":"NINETY ONE GSF EMERGING MARKETS MULTI-ASSET \"A\" (USD) ACC","LU0254981946.USD":"HSBC GIF BRIC MARKETS EQUITY \"AC\" (USD) ACC","SG9999014914.USD":"UNITED GLOBAL QUALITY GROWTH (USDHDG) INC","LU1725190679.HKD":"SCHRODER ISF EMERGING MARKETS MULTI-ASSET \"A\" (HKD) INC MF","LU1226288170.HKD":"UBS (LUX) KEY SEL S-CHINA ALLOCATION OPP \"P6%\"(HK D) INC","SG9999001903.USD":"Aberdeen Standard Pacific Equity USD","LU0348783233.USD":"安联东方收入型 CI A Dis美元","LU0164865239.USD":"HSBC GIF CHINESE EQUITY \"AC\" (USD) ACC","LU0918141887.USD":"安联亚洲实际收益股票基金","SG9999014880.SGD":"大华全球优质成长基金Acc SGD","LU0165289439.USD":"HSBC GIF ASIA EX JAPAN EQUITY \"AC\" ACC","LU1951186391.HKD":"UBS (LUX) KEY SEL CHINA ALLOCATION OPPORTUNITY (US \"P\" (HKD) INC","LU0011963245.USD":"abrdn SICAV I ASIA PACIFIC SUSTAINAB  LE EQUITY \"A\" (USD) ACC","LU1048484197.HKD":"ALLIANZ CHINA MULTI INCOME PLUS \"AT\" (HKD) ACC","LU0107464264.USD":"abrdn SICAV I - GLOBAL INNOVATION EQUITY \"A\" (USD) ACC","IE0003851619.USD":"BNY MELLON ASIAN EQUITY \"B\" (USD) ACC","LU0289960550.SGD":"AB FCP I - GLOBAL EQUITY BLEND PORTFOLIO 'A' (SGD) ACC","LU0228367735.SGD":"Eastspring Investments - Asian Equity Fund AS SGD","BK1502":"双十一","LU2251237306.USD":"TEMPLETON EMERGING MARKETS DYNAMIC INCOME \"A\" (USD) INC A","LU0345775950.USD":"NINETY ONE GSF ASIAN EQUITY \"A\" (USD) ACC","LU0164872284.USD":"HSBC GIF GLOBAL EMERGING MARKETS EQUITY \"A\" (USD) ACC","SGXZ31699556.SGD":"UGDP UNITED GLOBAL QUALITY GROWTH \"C\" (SGDHDG) ACC","LU0531970944.HKD":"HSBC GIF BRIC EQUITY \"AC\" (HKD) ACC","LU1323998911.USD":"BGF ASIAN MULTI-ASSET INCOME \"A\" (USD) ACC","LU0106252389.USD":"SCHRODER ISF EMERGING MARKETS \"A\" ACC","LU2251237488.HKD":"TEMPLETON EMERGING MARKETS DYNAMIC INCOME \"A\" (HKD) INC A","LU0348827113.USD":"ALLIANZ RCM CHINA \"AT\" ACC","LU0164880469.USD":"HSBC GIF HONG KONG EQUITY \"AC\" ACC","LU2237443382.USD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A MIncA USD","SG9999000459.SGD":"Aberdeen Standard Pacific Equity SGD","LU2237443549.SGD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A MIncA SGD-H","IE0003895053.USD":"PINEBRIDGE ASIA DYNAMIC ASSET ALLOCATION \"AD\" USD  ACC","LU0588545904.SGD":"Eastspring Investments - Asian Equity Income ASDM SGD","LU0456846285.SGD":"JPMorgan Funds - Greater China A (acc) SGD","LU0588545730.USD":"EASTSPRING INVESTMENTS ASIAN EQUITY INCOME \"ADM\" (USD) INC","LU0979878070.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"A\" (USD) ACC","LU2237443622.USD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A Acc USD","LU0196878994.USD":"MANULIFE GF CHINA VALUE \"AA\" (USD) INC","LU0320764243.SGD":"FTIF - Templeton Emerging Markets A Acc SGD","IE0003795394.USD":"BNY MELLON ASIAN EQUITY \"A\" (USD) ACC","HTCD.SI":"Tencent HK SDR 10to1","LU0048597586.USD":"富达亚洲焦点A","LU2237443978.SGD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A Acc SGD-H","LU1808992512.USD":"AB ALL CHINA EQUITY PORTFOLIO \"A\" (USD) ACC","LU1504937902.USD":"CT (LUX) I ASIAN EQUITY INCOME \"DUP\" (EUR) INC","LU0456842615.SGD":"JPMorgan Funds - Emerging Markets Equity A (acc) SGD","LU1226287875.USD":"UBS (LUX) KEY SEL S-CHINA ALLOCATION OPP \"PM\" (USD) INC","LU0985320562.USD":"NORDEA 1 GLOBAL STARS EQUITY \"BP\" (USD) ACC","LU0791591158.USD":"ALLSPRING  EMERGING MARKTES EQUITY INCOME \"I\" (USD) ACC","LU0531971595.HKD":"HSBC GIF CHINESE EQUITY \"AD\" (HKD) INC","LU0052750758.USD":"富兰克林中国基金A Acc","LU2778985437.USD":"ALLIANZ CHINA FUTURE TECHNOLOGIES \"A\" (USD) INC","LU1048596156.SGD":"Blackrock Asian Growth Leaders A2 SGD-H","LU0611395673.USD":"NINETY ONE GSF EMERGING MARKETS EQUITY \"A\" (USD) ACC","LU3063872942.SGD":"FULLERTON LUX FUNDS ASIA EQUITIES \"I\" (SGD) ACC","LU0561508036.HKD":"ALLIANZ CHINA EQUITY \"A\" (HKD) INC","LU2152927971.USD":"NORDEA 1 ASIAN STARS EQUITY \"BP\" (USD) ACC","LU0039217434.USD":"HSBC GIF CHINESE EQUITY \"AD\" INC","LU0315178854.USD":"EASTSPRING INVESTMENTS ASIAN EQUITY INCOME \"A\" ACC","LU1046422090.SGD":"Fidelity Pacific A-SGD","LU1152091168.USD":"UBS (LUX) EQUITY FUND - CHINA OPPORTUNITY (USD) \"PM\" INC","LU1960683339.HKD":"UBS (LUX) EQUITY SICAV ALL CHINA \"P\" (HKD) ACC","LU1226288097.SGD":"UBS (LUX) KEY SEL S-CHINA ALLOCATION OPP \"P\" (SGDHDG) INC A","LU0067412154.USD":"UBS (LUX) EQUITY FUND -  CHINA OPPORTUNITY \"P\" (USD) ACC","LU1188198961.HKD":"SCHRODER ISF CHINA OPPORTUNITIES \"A\" (HKD) INC QV","LU0348788117.USD":"ALLIANZ EMERGING ASIA EQUITY \"A\" (USD) INC","LU0293314216.USD":"ALLIANZ GEM EQUITY HIGH DIVIDEND \"A\" (USD) ACC","LU0359201612.USD":"贝莱德中国基金A2","LU0329678170.USD":"FIDELITY EMERGING ASIA \"A\" (USD) INC","IE00B8HQ1Z84.USD":"BNY MELLON GLOBAL EMERGING MARKETS OPPORTUNITIES \"A\" (USD) ACC","LU0878005551.USD":"UBS (LUX) KEY SELEC ASIA ALLOCATION OPPORTUNITY (USD) \"P\" (USD) ACC","LU0329678337.USD":"FIDELITY EMERGING ASIA \"A\" (USD)","SGXZ81514606.USD":"大华环球创新基金A Acc USD","LU1282651048.USD":"ALLIANZ GEM EQUITY HIGH DIVIDEND \"AMG\" (USD) INC","LU0862451753.SGD":"JPMorgan Funds - Emerging Markets Dividend A (mth) SGD","LU0456827905.SGD":"JPMorgan Funds - China A (acc) SGD","LU2008162690.USD":"FIDELITY FUNDS - ASIA PACIFIC OPPORTUNITIES \"A\" (USD) ACC","BK1608":"元宇宙概念","TCEHY":"腾讯控股ADR","LU1719994722.HKD":"NINETY ONE GSF ALL CHINA EQUITY \"A\" (HKD) ACC","SG9999001093.SGD":"United Greater China Fund A Acc SGD","LU0972618739.USD":"JPM TOTAL EMERGING MARKETS  \"A\" (USD) INC (M)","LU2039709279.SGD":"MANULIFE GF DRAGON GROWTH \"AA\" (SGDHDG) INC","LU0128522744.USD":"TEMPLETON EMERGING MARKETS \"A\" ACC","LU1785774172.SGD":"JPM TOTAL EMERGING MARKETS INCOME \"A\" (SGD) INC","LU0463099449.HKD":"SCHRODER ISF CHINA OPPORTUNITIES \"A\" (HKD) ACC","LU1282648689.USD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AMG\" (USD) INC","LU0348816934.USD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AT\" (USD)","LU0831103253.SGD":"JPMorgan Funds - Asia Pacific Income A (mth) SGD","LU0211977185.USD":"EASTSPRING INVESTMENTS GREATER CHINA EQUITY \"A\" ACC","SG9999001846.SGD":"Schroder Asian Equity Yield A Dis SGD","LU1883866441.USD":"AMUNDI FUNDS REAL ASSETS TARGET INCOME \"A2\" (USD) ACC","LU2247934214.USD":"FIDELITY FUNDS SUSTAINABLE FUTURE CONNECTIVITY \"A\" (USD) ACC","IE00BZ08YR35.GBP":"GUINNESS BEST OF CHINA \"C\" (GBP) ACC","LU0163747925.USD":"EASTSPRING INVESTMENTS ASIAN EQUITY A ACC","SG9999015945.SGD":"LionGlobal Disruptive Innovation Fund A SGD","LU0593848301.USD":"未来资产亚洲卓越消费股票基金A","IE00BZ08YS42.EUR":"GUINNESS BEST OF CHINA \"C\" (EUR) ACC","LU2293587155.HKD":"ALLIANZ ORIENTAL INCOME \"AT\" (HKD) ACC","LU1152091754.HKD":"UBS (LUX) EQUITY FUND - CHINA OPPORTUNITY (USD) \"PM\" (HKD) INC","IE00BZ08YT58.USD":"GUINNESS BEST OF CHINA \"C\" (USD) ACC","LU2226246903.HKD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AT4\" (HKD) ACC","LU0348735423.USD":"ALLIANZ HONG KONG EQUITY \"A\" (USD) INC","LU0868486357.SGD":"JPMorgan Funds - Emerging Markets Opportunities A (acc) SGD-H","IE0032431581.USD":"PINEBRIDGE GREATER CHINA EQUITY \"A\" (USD) ACC","SG9999002562.SGD":"LionGlobal Asia Pacific SGD","LU0886674414.USD":"CT (LUX) I ASIAN EQUITY INCOME \"AUP\" (USD) INC","LU0455707207.USD":"FIDELITY FUNDS  CHINA INNOVATION \"A\" (USD) INC","LU1251922891.USD":"NINETY ONE GSF ALL CHINA EQUITY \"A\" (USD) ACC","LU0898667661.SGD":"JPMorgan Funds - Asia Pacific Income A (mth) SGD-H","LU0608807946.USD":"TEMPLETON EMERGING MARKETS DYNAMIC INCOME \"A\" Q (USD) INC","LU2498475776.HKD":"AMUNDI FUNDS REAL ASSETS TARGET INCOME \"A2\" (HKD) INC","LU0072913022.USD":"UBS (LUX) EQUITY FUND -  GREATER CHINA \"P\" (USD) ACC","LU0737861772.HKD":"FIDELITY EMERGING ASIA \"A \" (HKD) ACC","LU1303224171.USD":"NINETY ONE GSF ALL CHINA EQUITY \"A\" (USD) INC","LU1831875114.USD":"SCHRODER ISF ALL CHINA EQUITY \"A\" (USD) ACC","LU0823413587.USD":"BNP PARIBAS EMERGING EQUITY \"C\" (USD) ACC","LU0890818403.SGD":"JPMorgan Funds - Emerging Markets Dividend A (mth) SGD-H","LU0589944569.HKD":"ALLIANZ EMERGING ASIA EQUITY \"AT\" (HKD) ACC","SGXZ99366536.SGD":"United Global Innovation A Acc SGD-H","LU1105468828.SGD":"Allianz Total Return Asian Equity AM DIS H2-SGD","LU0128522157.USD":"TEMPLETON ASIAN GROWTH \"A\" ACC","SG9999001069.SGD":"UOB UNITED ASIA PACIFIC GROWTH (SGD) ACC","LU0348825331.USD":"ALLIANZ CHINA EQUITY \"A\" (USD) INC"},"translate_title":"The U.S. Supreme Court ruling reshapes market pricing logic! China-India export chain becomes the biggest winner, Hong Kong stocks usher in a moment of take-off","themeId":"27f13b5ff1b2c33d304e018f8e32ae03","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"688981":1.85,"HTCD.SI":0.6,"SPY":1.88,"TCHmain":0.6,"00700":1.86,"00981":1.85,"TCEHY":1.86,"09988":1.87,".SPX":1.88,"BABA":1.87},"content_text":"智通财经APP获悉，在特朗普关税政策乃至美国财政部税收命运迅速发生逆转之际，那些在过去一年曾长期遭遇美国总统唐纳德·特朗普所主导的全球范围关税政策打击最重的大型经济体们，已成为美国最高法院决定推翻其紧急关税政策后最大赢家。经济学家们的最新测算数据显示，亚洲加权平均关税率将从20%降至17%，美国政府对所有进口/所有贸易伙伴加总后的整体“平均有效关税率”测算口径层面而言，平均有效关税率已经降至4月“解放日”关税公布以来的最低水平。在美国最高法院裁定特朗普依据《国际紧急经济权力法案》(即IEEPA)向全球征收关税属于非法之后，中国、印度和巴西等大型经济体如今对于向最大出口方——美国出货的关税税率更低。尽管特朗普随后不久宣布计划实施15%的面向全球税率，但Bloomberg Economics的经济学家团队最新测算显示，这将意味着全球平均有效关税税率从17%左右降至仅仅约为12%——为自2025年4月特朗普政府宣布面向全球的“解放日”(“Liberation Day”)关税推出以来的最低水平。就亚洲所有经济体们而言，华尔街金融巨头摩根士丹利的经济学家团队研究报告显示，加权平均关税税率将从20%降至17%，其中对中国商品的平均税率将从32%显著降至24%。不过，鉴于特朗普政府正寻求通过行业性及按经济体划分的关税框架来重建其关税体系，这种缓解可能只是暂时的，这也意味着针对中国等国家或地区的显著高于10%的现行关税仍可能通过其他具体条款维持或者进行调整。特朗普近日在宣布15%全球关税之后表示，他将继续保留《301条款》和《232条款》框架之下现有的进口关税，并暗示将启动更多的贸易调查。依据白宫最新发布的事实说明，特朗普已经指示美国贸易代表办公室根据其《301条款》权力开始调查。尽管如此，“关税与全球贸易紧张局势的不确定性峰值的时期已经基本过去”，由切坦·阿希亚(Chetan Ahya)领衔的摩根士丹利经济学家团队在一份报告中写道。整体而言，最高法院裁定特朗普动用《国际紧急经济权力法》(IEEPA)加征的“紧急关税”违法后，美国海关已启动停止征收相关IEEPA关税代码的执行安排，这无疑会让此前被加征更高、惩罚性更强税率的一批出口型经济体，在短期内看到对美出货的边际税负下修空间。经济学家们之所以点名中国、印度以及巴西，关键在于：在IEEPA税种被撤销后，叠加特朗普随后改用《1974年贸易法》第122条推出新的统一税率(最新口径为15%)，经济学们测算美国平均有效关税率可能显著下行，落在约12%左右。“全球贸易的不确定性再次成为投资者关注的问题，这对美国资产来说是个坏消息。美元的跌势有可能延续，随着投资者将这种影响计入股价，标普500指数相对于其他指数，尤其是相对于亚太指数的劣势将进一步加剧。”MLIV 亚洲市场资深分析师加菲尔德·雷诺兹(Garfield Reynolds)表示。 “就关税而言，亚洲和新兴市场可能是此次暂时下调的最大受益者。”最高法院判决与特朗普关税政策“反复横跳”点燃市场再定价——即美国资产走弱，港股市场应声走强特朗普政府最新宣布的15%全面征税实际上重新设定了美国贸易伙伴们面临的贸易竞争与经济增长格局。对于中国等大型出口类经济体而言，美国最高法院还取消了针对中国高达10%的芬太尼关税，因此其出口如今面临的税率惩罚性更低。最核心的输家们则包括英国和澳大利亚等西方发达经济体或者美国长期以来的盟友们，它们曾在解放日发起的面向全球“对等关税”(“reciprocal”)框架下谈判已经获得10%左右的较低税率。周一，美元指数以及标普500指数期货呈现小幅下跌，纳斯达克指数期货跌幅超1%，主要因贸易政策不确定性打压市场对于美国资产的乐观看涨情绪，“抛售美国”论调以及“美国例外论崩塌”论调可谓卷土重来。随着特朗普政府主导的关税与财政政策不确定性导致一些大型投资者从美国市场撤离，“美国例外论崩塌”的呼声愈发浓厚，叠加美国股市估值偏高且市值集中度过高 ，且弱美元有利于新兴市场债务偿付与收益表现，资金愈发寻求多样化配置。长期面临关税重压的港股大型上市公司们则如释重负，其基本面增长逻辑迎来情景修复，体现出在美元以及美股震荡之际，在香港的中国企业股票价格则上显著涨，尤其是港股市场的出口链与依赖估值驱动的科技型成长股的表现——比如与AI密切相关联的科技类股票价格大幅上涨。截至周一香港股市收盘，涵盖阿里巴巴、腾讯以及中芯国际等中国AI算力产业链领军者们的恒生科技指数大幅上涨超3%，A股市场则继续因春节假期休市。当美国金融市场陷入\"AI颠覆一切的AI恐慌交易\"，投资者们大举抛售SaaS软件公司之际，中国投资者却在大举追捧人工智能相关概念股。这种截然不同的市场情绪反映出两地投资者对于前沿AI技术的根本性分歧：美国市场担忧既有商业模式被颠覆，中国投资者们则聚焦于在最高法院宣布此前特朗普对等关税违法之后的经济增长机遇以及在AI应用市场规模无比庞大的中国加速开源AI大模型渗透带来的企业降本潜力。美国高级官员们正敦促包括英国、澳大利亚以及欧盟和日本在内的贸易合作伙伴们遵守他们在此前贸易谈判中给出的关税税率以及面向美国本土的大规模投资承诺。他们也寻求延续与中国为期一年的贸易战休战安排，美国总统特朗普则计划不久后访问北京。“我们要确保中国在履行贸易协议中属于它的那一部分，”美国贸易代表贾米森·格里尔(Jamieson Greer)在福克斯新闻周日节目(Fox News Sunday)中表示。“这意味着他们将继续购买他们说过要买的美国本土产品。”加拿大和墨西哥也曾面临与芬太尼相关的关税，因此随着这些关税不再适用，它们同样受益。来自Bloomberg Economics的资深经济学家妮可·戈顿-卡拉泰利(Nicole Gorton-Caratelli)、克里斯·肯尼迪(Chris Kennedy)和梅娃·库赞(Maeva Cousin)在一份报告中写道，如果《美墨加协定》(USMCA)下的豁免继续保留，它们将共同处于“非常有利的位置”。新宣布的15%税率令此前适用10%税率的国家贸易处境相对中国与印度等亚洲大型经济体而言更差，澳大利亚和英国就属于这种情况。与此同时，那些此前对美国贸易出口适用当时具有竞争力的15%水平的国家——例如日本，如今已发现这种优势被剥夺。尽管美国最高法院裁决增添了一层新的不确定性，但是有分析人士指出，过去一年全球贸易展现出的强大韧性，以及整体的平均关税税率变化相对有限，暗示短期影响可能较为受限。来自另一华尔街金融巨头高盛集团的的经济学家团队最新测算显示，最高法院裁决与新宣布的第122条关税(Section 122 tariff)相结合，将把自2025年初以来有效关税税率的上升幅度从略高于10个百分点降至9个百分点。“来自那些将因最新政策变化而经历显著关税下调的国家的进口，未来几个月很可能会大幅回升，”高盛的经济学家们写道。“但对GDP的影响规模应当在很大程度上被以下因素抵消：库存累积与相对应的消费者支出增加、经由其他国家改道的贸易所对应的进口减少，以及来自关税税率上升国家的小幅进口下降。”在最高法院推翻IEEPA关税之后，中国密切关注特朗普政府新贸易举措在美国最高法院驳回特朗普的紧急征税后，包括中国、印度和巴西在内的国家对运往美国的货物的关税税率显著降低。中国方面表示，正在密切关注特朗普政府计划借助其他贸易工具推进其关税体系——这是自最高法院裁定总统国际紧急关税无效以来，中方首次官方表态。中国商务部一位发言人周一表示，北京目前正在对该裁决的影响进行全面评估。“我们也注意到，美方正在准备替代性质的措施，例如贸易调查，试图继续维持对贸易伙伴加征关税。中方将密切关注这些动向，坚决维护自身利益，”该人士在一份声明中表示。中国就该裁决的首次官方评论，出现在美国最高法院数日前推翻总统特朗普全面全球关税之后。特朗普随后表示将重新实施15%的全球关税，并承诺开展新的贸易调查，试图来维系此前的整体关税税率。一项衡量在香港上市中资企业的关键股指周一早盘一度上涨2.6%，涵盖更广泛股票标的的香港股市恒生指数周一收盘涨2.53%。如上所示，尽管特朗普推出了新的关税，但是Bloomberg Economics测算显示，这将意味着平均有效关税税率约为12%——为自4月其“解放日”关税推出以来的最低水平。此前，第301条(Section 301)与第232条(Section 232)下的调查曾被用来对中国出口、汽车和金属加征关税。这些替代性的法律授权，可能使白宫在裁决之后仍能实施更多进口税。尽管如此，对于中国而言，最高法院还帮助取消了10%的芬太尼关税，因此其出口如今面临的税率惩罚性更低。最高法院裁定特朗普以《国际紧急经济权力法》加征的多项关税违法后，美国海关已启动停止征收相关关税代码的安排;特朗普随即改以《1974年贸易法》第122条推出临时性的统一全球税率(目前拟定为15%，且受150天期限约束)，等于用“更低、更统一”的底盘去替换此前更高、差异更大的“紧急关税体系”。因此，那些此前被IEEPA关税打得最重、税率被抬得最高的经济体，在相对意义上成为“最大受益者”，比如中国与印度。亚洲整体的加权平均关税水平下修(摩根士丹利测算口径：从约20%降至约17%，对中国商品平均税率则有望从约32%降至约24%)，叠加中国还受益于法院同时推翻的部分“芬太尼相关附加税”，使其对美出口面临的边际惩罚下降;在这种“基准下移+差异收敛”的新框架下，中国、印度(以及巴西等)自然更容易被归类为赢家。但把结论扩大成“整个亚洲都是最大赢家”会过度简化：统一的15%底盘会把原先谈到10%低税率的一些盟友(比如英国、澳大利亚)推到更差的位置;而此前在旧体系下享有“相对有竞争力税率”的国家(比如日本与韩国)也会发现贸易出口优势被抹平。","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"tenantId":"TBCN","deviceId":"web-server-community-laohu8-v3","version":"4.42.3","shortVersion":"4.42.3","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2613520029","isCrawlerRequest":true}

美国最高法院判决重塑市场定价逻辑!中印出口链成最大赢家 港股迎来腾飞时刻

精彩评论

美国最高法院判决重塑市场定价逻辑!中印出口链成最大赢家港股迎来腾飞时刻