港股下一步怎么走？大摩：分化将延续，外资仍有增配空间_老虎社区_美港股上老虎

港股下一步怎么走？大摩：分化将延续，外资仍有增配空间

华尔街见闻02-14

DeepSeek RI和阿里通义Qwen2.5-Max的发布，成功引发了全球资本市场对中国科技股的重估。1月13日，DeepSeek-R1发布后的第一个交易日，MSCI中国指数和恒生指数触底反弹。2月13日周四，摩根士丹利股票策略师王滢、刘颖发布报告称，DeepSeek是中国股市反弹的最大推动因素，到目前为止，南向资金对这波反弹的贡献最大，外国长线投资者的仓位仍然较低，短期内，AI/科技股和非...

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炒股不挣钱交个朋友
·02-14
笑死了阳历年后第一场分析会刘颖就说港股不会再涨了说什么外部环境太差特朗普对中国会很强硬这些人骨子里就不相信中国人突破困境的能力只能维持10倍的pe 过完春节港股就papapa打他们脸
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呆王
·02-14
既然多数都是南向资金，怎么叫做全球资本重估中国科技股？大概率还是捞一波就走割韭菜罢了。。
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、刘颖发布报告称，DeepSeek是中国股市反弹的最大推动因素，到目前为止，南向资金对这波反弹的贡献最大，外国长线投资者的仓位仍然较低，短期内，AI/科技股和非AI/科技股的分化表现可能延续。大摩表示，近期，中国市场尤其是港股表现强劲，DeepSeek是最大推动因素：1月13日至2月7日期间，恒生指数上涨了12％，其中恒生科技指数上涨了22％。MSCI中国指数上涨13％，其中MSCI中国IT板块上涨24％。但问题在于，AI/科技股和非AI/科技股的表现分化严重，“表明目前为止缺乏真正的贝塔反弹”：调整后的恒生指数（不含恒生科技成分股）在平配基础上表现或持平，市值加权基础上年初至今回报仅为3％，反映出强劲的恒生指数变现主要由AI/科技相关股票推动。具体来看，大摩指出，到目前为止，南向资金贡献最大，外国长线投资者仓位较低，仍有增配空间：年初至今南向资金净流入强劲，达到170亿美元，主要流向IT和通信服务行业，日均净流入额从2024年的4.2亿美元翻了一番，达到8.81亿美元。截至2025年1月31日的数据表明，目前为止全球大型长线投资者仍拥有相当大的相关行业的低配仓位，年初至今其低配仓位进一步增加。在经历了长期的有限关注之后，全球投资者开始重新评估中国在科技和AI领域的可投资性。那么，下一步，中国市场将如何演变？大摩表示，短期内，AI/科技股和非AI/科技股的分化表现可能延续：在三月全国人民代表大会召开之前，我们正处于政策真空期，对宏观经济放缓的担忧可能会减少广泛的贝塔投资机会。此外，中国在AI、人形机器人、电动汽车等领域取得的最新突破可能会进一步促使政府政策继续专注于制造业和科技资本支出扩张，而远离消费刺激。","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[{"id":403390623687280,"gmtCreate":1739502782886,"gmtModify":1739502905867,"author":{"id":"3492836773715147","authorId":"3492836773715147","name":"炒股不挣钱交个朋友","avatar":"https://static.tigerbbs.com/a823d8a0eda2853ed619dc48a9563205","vip":1,"crmLevel":3,"crmLevelSwitch":0,"authorIdStr":"3492836773715147","idStr":"3492836773715147"},"htmlText":"笑死了 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RI和阿里通义Qwen2.5-Max的发布，成功引发了全球资本市场对中国科技股的重估。1月13日，DeepSeek-R1发布后的第一个交易日，MSCI中国指数和恒生指数触底反弹。</p><p>2月13日周四，<a href=\"https://laohu8.com/S/MS\">摩根士丹利</a>股票策略师王滢 、刘颖发布报告称，<strong>DeepSeek是中国股市反弹的最大推动因素，到目前为止，南向资金对这波反弹的贡献最大，外国长线投资者的仓位仍然较低，短期内，AI/科技股和非AI/科技股的分化表现可能延续。</strong></p><p>大摩表示，<strong>近期，中国市场尤其是港股表现强劲，DeepSeek是最大推动因素</strong>：</p><blockquote><p>1月13日至2月7日期间，恒生指数上涨了12％，其中恒生科技指数上涨了22％。MSCI中国指数上涨13％，其中MSCI中国IT板块上涨24％。</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/02cd2b932a4f73bd62e4849aa651dc12\" tg-width=\"941\" tg-height=\"265\"/></p></blockquote><p>但问题在于，<strong>AI/科技股和非AI/科技股的表现分化严重，“表明目前为止缺乏真正的贝塔反弹”</strong>：</p><blockquote><p>调整后的恒生指数（不含恒生科技成分股）在平配基础上表现或持平，市值加权基础上年初至今回报仅为3％，反映出强劲的恒生指数变现主要由AI/科技相关股票推动。</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/a0c8af18935fc9119bca365f8ce6a818\" tg-width=\"953\" tg-height=\"651\"/></p></blockquote><p>具体来看，大摩指出，<strong>到目前为止，南向资金贡献最大，外国长线投资者仓位较低，仍有增配空间</strong>：</p><blockquote><p>年初至今南向资金净流入强劲，达到170亿美元，主要流向IT和通信服务行业，日均净流入额从2024年的4.2亿美元翻了一番，达到8.81亿美元。</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/1c864259ad492e1cc8f86ef77a811504\" tg-width=\"944\" tg-height=\"543\"/></p><p>截至2025年1月31日的数据表明，目前为止全球大型长线投资者仍拥有相当大的相关行业的低配仓位，年初至今其低配仓位进一步增加。</p><p>在经历了长期的有限关注之后，全球投资者开始重新评估中国在科技和AI领域的可投资性。</p></blockquote><p>那么，下一步，中国市场将如何演变？</p><p>大摩表示，<strong>短期内，AI/科技股和非AI/科技股的分化表现可能延续</strong>：</p><blockquote><p>在三月全国人民代表大会召开之前，我们正处于政策真空期，对宏观经济放缓的担忧可能会减少广泛的贝塔投资机会。</p><p>此外，<strong>中国在AI、人形机器人、电动汽车等领域取得的最新突破可能会进一步促使政府政策继续专注于制造业和科技资本支出扩张</strong>，而远离消费刺激。 </p></blockquote></body></html>","source":"wallstreetcn_hot_news","collect":0,"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>港股下一步怎么走？大摩：分化将延续，外资仍有增配空间</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; 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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港股下一步怎么走？大摩：分化将延续，外资仍有增配空间\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-02-14 10:58 北京时间&nbsp;&nbsp;&nbsp;<a href=https://wallstreetcn.com/articles/3741086><strong>华尔街见闻</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>DeepSeek RI和阿里通义Qwen2.5-Max的发布，成功引发了全球资本市场对中国科技股的重估。1月13日，DeepSeek-R1发布后的第一个交易日，MSCI中国指数和恒生指数触底反弹。2月13日周四，摩根士丹利股票策略师王滢 、刘颖发布报告称，DeepSeek是中国股市反弹的最大推动因素，到目前为止，南向资金对这波反弹的贡献最大，外国长线投资者的仓位仍然较低，短期内，AI/科技股和非...</p>\n\n<a href=\"https://wallstreetcn.com/articles/3741086\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/2b28f1d3f00f2c66dda64d04f0f6b905","relate_stocks":{"LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","LU2089283258.USD":"安联环球可持续基金Cl AM Dis","LU1548497426.USD":"安联环球人工智能AT Acc","LU0971096721.USD":"富达环球金融服务 A","LU0320765646.SGD":"FTIF - Franklin Income A MDIS SGD-H1","LU0912757837.SGD":"JPMorgan Investment Funds - Global Income A (mth) SGD-H","BK4581":"高盛持仓","LU0106831901.USD":"贝莱德世界金融基金A2","LU2133065610.SGD":"JPMorgan Investment Funds - Global Dividend A (mth) SGD","LU2347655156.SGD":"JPMorgan Investment Funds - Global Income A (icdiv) SGD-H","LU0314104364.USD":"MANULIFE GF AMERICAN GROWTH \"AA\" (USD) INC","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","LU0795875086.SGD":"JPMorgan Investment Funds - Global Income A (div) SGD","LU1668664300.SGD":"Blackrock World Financials A2 SGD-H","LU1162221912.USD":"FRANKLIN INCOME \"A\" (USD) ACC","YANG":"三倍做空富时中国ETF-Direxion","BK4585":"ETF&股票定投概念","BK4534":"瑞士信贷持仓","LU2089284900.SGD":"Allianz Global Sustainability Cl AM Dis H2-SGD","LU0106261372.USD":"SCHRODER ISF US LARGE CAP \"A\" ACC","LU0225283273.USD":"SCHRODER ISF GLOBAL EQUITY ALPHA \"A\" (USD) ACC","LU0267386448.USD":"FIDELITY FIRST ALL COUNTRY WORLD \"A\" (USD) INC","BK4127":"投资银行业与经纪业","LU2271345857.HKD":"ALLIANZ GLOBAL SUSTAINABILITY \"AT\" (HKD) ACC","HSCEI":"国企指数","BK4516":"特朗普概念","LU1074936037.SGD":"JPMorgan Funds - US Value A (acc) SGD","HSI":"恒生指数","LU2023251221.USD":"ALLIANZ GLOBAL SUSTAINABILITY \"AM\" (USD) INC","LU2111349929.HKD":"ALLIANZ GLOBAL SUSTAINABILITY \"AM\" (HKD) INC","LU1363072403.SGD":"Fidelity Global Financial Services A-ACC-SGD","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","LU0098860793.USD":"FRANKLIN INCOME \"A\" INC","LU0795875169.SGD":"JPMorgan Investment Funds - Global Income A (div) SGD-H","LU1989772840.SGD":"CPR Invest - Climate Action A2 Acc SGD-H","LU0158827781.USD":" ALLIANZ GLOBAL SUSTAINABILITY \"AT\" (USD) ACC","LU1732800096.USD":"摩根大通环球收益基金A (irc)","HSTECH":"恒生科技指数","BK4504":"桥水持仓","LU0006306889.USD":"SCHRODER ISF US LARGE CAP \"A\" (USD) INC AV","LU1989772923.USD":"CPR Invest - Climate Action A2 Acc USD-H","BK4588":"碎股","LU0158827948.USD":"ALLIANZ GLOBAL SUSTAINABILITY \"A\" (USD) INC","LU1732799900.SGD":"JPMorgan Investment Funds - Global Income A (irc) SGD-H","LU2028103732.USD":"ALLIANZ GLOBAL SUSTAINABILITY \"AMG\" (USD) INC","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD"},"source_url":"https://wallstreetcn.com/articles/3741086","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2511689146","content_text":"DeepSeek RI和阿里通义Qwen2.5-Max的发布，成功引发了全球资本市场对中国科技股的重估。1月13日，DeepSeek-R1发布后的第一个交易日，MSCI中国指数和恒生指数触底反弹。2月13日周四，摩根士丹利股票策略师王滢 、刘颖发布报告称，DeepSeek是中国股市反弹的最大推动因素，到目前为止，南向资金对这波反弹的贡献最大，外国长线投资者的仓位仍然较低，短期内，AI/科技股和非AI/科技股的分化表现可能延续。大摩表示，近期，中国市场尤其是港股表现强劲，DeepSeek是最大推动因素：1月13日至2月7日期间，恒生指数上涨了12％，其中恒生科技指数上涨了22％。MSCI中国指数上涨13％，其中MSCI中国IT板块上涨24％。但问题在于，AI/科技股和非AI/科技股的表现分化严重，“表明目前为止缺乏真正的贝塔反弹”：调整后的恒生指数（不含恒生科技成分股）在平配基础上表现或持平，市值加权基础上年初至今回报仅为3％，反映出强劲的恒生指数变现主要由AI/科技相关股票推动。具体来看，大摩指出，到目前为止，南向资金贡献最大，外国长线投资者仓位较低，仍有增配空间：年初至今南向资金净流入强劲，达到170亿美元，主要流向IT和通信服务行业，日均净流入额从2024年的4.2亿美元翻了一番，达到8.81亿美元。截至2025年1月31日的数据表明，目前为止全球大型长线投资者仍拥有相当大的相关行业的低配仓位，年初至今其低配仓位进一步增加。在经历了长期的有限关注之后，全球投资者开始重新评估中国在科技和AI领域的可投资性。那么，下一步，中国市场将如何演变？大摩表示，短期内，AI/科技股和非AI/科技股的分化表现可能延续：在三月全国人民代表大会召开之前，我们正处于政策真空期，对宏观经济放缓的担忧可能会减少广泛的贝塔投资机会。此外，中国在AI、人形机器人、电动汽车等领域取得的最新突破可能会进一步促使政府政策继续专注于制造业和科技资本支出扩张，而远离消费刺激。","news_type":1,"symbols_score_info":{"HSI":1.1,"HSCEI":1,"YANG":1,"HSTECH":1}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":403391615328448,"gmtCreate":1739502517500,"gmtModify":1739502751549,"author":{"id":"3487793195130896","authorId":"3487793195130896","name":"呆王","avatar":"https://static.tigerbbs.com/4682211389e16af3f2739200a5d84e69","vip":1,"crmLevel":8,"crmLevelSwitch":0,"authorIdStr":"3487793195130896","idStr":"3487793195130896"},"htmlText":"既然多数都是南向资金，怎么叫做全球资本重估中国科技股？大概率还是捞一波就走割韭菜罢了。。","listText":"既然多数都是南向资金，怎么叫做全球资本重估中国科技股？大概率还是捞一波就走割韭菜罢了。。","text":"既然多数都是南向资金，怎么叫做全球资本重估中国科技股？大概率还是捞一波就走割韭菜罢了。。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/403391615328448","repostId":2511689146,"repostType":2,"repost":{"id":"2511689146","kind":"news","pubTimestamp":1739501904,"share":"https://www.laohu8.com/m/news/2511689146?lang=&edition=full","pubTime":"2025-02-14 10:58","market":"hk","language":"zh","title":"港股下一步怎么走？大摩：分化将延续，外资仍有增配空间","url":"https://stock-news.laohu8.com/highlight/detail?id=2511689146","media":"华尔街见闻","summary":"大摩表示，到目前为止，南向资金对这波反弹的贡献最大，外国长线投资者的仓位仍然较低，仍有增配空间，在经历了长期的有限关注之后，全球投资者开始重新评估中国在科技和AI领域的可投资性。短期内，AI/科技股和非AI/科技股的分化表现可能延续。","content":"<html><head></head><body><p>DeepSeek RI和阿里通义Qwen2.5-Max的发布，成功引发了全球资本市场对中国科技股的重估。1月13日，DeepSeek-R1发布后的第一个交易日，MSCI中国指数和恒生指数触底反弹。</p><p>2月13日周四，<a href=\"https://laohu8.com/S/MS\">摩根士丹利</a>股票策略师王滢 、刘颖发布报告称，<strong>DeepSeek是中国股市反弹的最大推动因素，到目前为止，南向资金对这波反弹的贡献最大，外国长线投资者的仓位仍然较低，短期内，AI/科技股和非AI/科技股的分化表现可能延续。</strong></p><p>大摩表示，<strong>近期，中国市场尤其是港股表现强劲，DeepSeek是最大推动因素</strong>：</p><blockquote><p>1月13日至2月7日期间，恒生指数上涨了12％，其中恒生科技指数上涨了22％。MSCI中国指数上涨13％，其中MSCI中国IT板块上涨24％。</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/02cd2b932a4f73bd62e4849aa651dc12\" tg-width=\"941\" tg-height=\"265\"/></p></blockquote><p>但问题在于，<strong>AI/科技股和非AI/科技股的表现分化严重，“表明目前为止缺乏真正的贝塔反弹”</strong>：</p><blockquote><p>调整后的恒生指数（不含恒生科技成分股）在平配基础上表现或持平，市值加权基础上年初至今回报仅为3％，反映出强劲的恒生指数变现主要由AI/科技相关股票推动。</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/a0c8af18935fc9119bca365f8ce6a818\" tg-width=\"953\" tg-height=\"651\"/></p></blockquote><p>具体来看，大摩指出，<strong>到目前为止，南向资金贡献最大，外国长线投资者仓位较低，仍有增配空间</strong>：</p><blockquote><p>年初至今南向资金净流入强劲，达到170亿美元，主要流向IT和通信服务行业，日均净流入额从2024年的4.2亿美元翻了一番，达到8.81亿美元。</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/1c864259ad492e1cc8f86ef77a811504\" tg-width=\"944\" tg-height=\"543\"/></p><p>截至2025年1月31日的数据表明，目前为止全球大型长线投资者仍拥有相当大的相关行业的低配仓位，年初至今其低配仓位进一步增加。</p><p>在经历了长期的有限关注之后，全球投资者开始重新评估中国在科技和AI领域的可投资性。</p></blockquote><p>那么，下一步，中国市场将如何演变？</p><p>大摩表示，<strong>短期内，AI/科技股和非AI/科技股的分化表现可能延续</strong>：</p><blockquote><p>在三月全国人民代表大会召开之前，我们正处于政策真空期，对宏观经济放缓的担忧可能会减少广泛的贝塔投资机会。</p><p>此外，<strong>中国在AI、人形机器人、电动汽车等领域取得的最新突破可能会进一步促使政府政策继续专注于制造业和科技资本支出扩张</strong>，而远离消费刺激。 </p></blockquote></body></html>","source":"wallstreetcn_hot_news","collect":0,"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>港股下一步怎么走？大摩：分化将延续，外资仍有增配空间</title>\n<style 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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港股下一步怎么走？大摩：分化将延续，外资仍有增配空间\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-02-14 10:58 北京时间&nbsp;&nbsp;&nbsp;<a href=https://wallstreetcn.com/articles/3741086><strong>华尔街见闻</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>DeepSeek RI和阿里通义Qwen2.5-Max的发布，成功引发了全球资本市场对中国科技股的重估。1月13日，DeepSeek-R1发布后的第一个交易日，MSCI中国指数和恒生指数触底反弹。2月13日周四，摩根士丹利股票策略师王滢 、刘颖发布报告称，DeepSeek是中国股市反弹的最大推动因素，到目前为止，南向资金对这波反弹的贡献最大，外国长线投资者的仓位仍然较低，短期内，AI/科技股和非...</p>\n\n<a href=\"https://wallstreetcn.com/articles/3741086\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/2b28f1d3f00f2c66dda64d04f0f6b905","relate_stocks":{"LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","LU2089283258.USD":"安联环球可持续基金Cl AM Dis","LU1548497426.USD":"安联环球人工智能AT Acc","LU0971096721.USD":"富达环球金融服务 A","LU0320765646.SGD":"FTIF - Franklin Income A MDIS SGD-H1","LU0912757837.SGD":"JPMorgan Investment Funds - Global Income A (mth) SGD-H","BK4581":"高盛持仓","LU0106831901.USD":"贝莱德世界金融基金A2","LU2133065610.SGD":"JPMorgan Investment Funds - Global Dividend A (mth) SGD","LU2347655156.SGD":"JPMorgan Investment Funds - Global Income A (icdiv) SGD-H","LU0314104364.USD":"MANULIFE GF AMERICAN GROWTH \"AA\" (USD) INC","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","LU0795875086.SGD":"JPMorgan Investment Funds - Global Income A (div) SGD","LU1668664300.SGD":"Blackrock World 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USD","LU0098860793.USD":"FRANKLIN INCOME \"A\" INC","LU0795875169.SGD":"JPMorgan Investment Funds - Global Income A (div) SGD-H","LU1989772840.SGD":"CPR Invest - Climate Action A2 Acc SGD-H","LU0158827781.USD":" ALLIANZ GLOBAL SUSTAINABILITY \"AT\" (USD) ACC","LU1732800096.USD":"摩根大通环球收益基金A (irc)","HSTECH":"恒生科技指数","BK4504":"桥水持仓","LU0006306889.USD":"SCHRODER ISF US LARGE CAP \"A\" (USD) INC AV","LU1989772923.USD":"CPR Invest - Climate Action A2 Acc USD-H","BK4588":"碎股","LU0158827948.USD":"ALLIANZ GLOBAL SUSTAINABILITY \"A\" (USD) INC","LU1732799900.SGD":"JPMorgan Investment Funds - Global Income A (irc) SGD-H","LU2028103732.USD":"ALLIANZ GLOBAL SUSTAINABILITY \"AMG\" (USD) INC","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD"},"source_url":"https://wallstreetcn.com/articles/3741086","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2511689146","content_text":"DeepSeek RI和阿里通义Qwen2.5-Max的发布，成功引发了全球资本市场对中国科技股的重估。1月13日，DeepSeek-R1发布后的第一个交易日，MSCI中国指数和恒生指数触底反弹。2月13日周四，摩根士丹利股票策略师王滢 、刘颖发布报告称，DeepSeek是中国股市反弹的最大推动因素，到目前为止，南向资金对这波反弹的贡献最大，外国长线投资者的仓位仍然较低，短期内，AI/科技股和非AI/科技股的分化表现可能延续。大摩表示，近期，中国市场尤其是港股表现强劲，DeepSeek是最大推动因素：1月13日至2月7日期间，恒生指数上涨了12％，其中恒生科技指数上涨了22％。MSCI中国指数上涨13％，其中MSCI中国IT板块上涨24％。但问题在于，AI/科技股和非AI/科技股的表现分化严重，“表明目前为止缺乏真正的贝塔反弹”：调整后的恒生指数（不含恒生科技成分股）在平配基础上表现或持平，市值加权基础上年初至今回报仅为3％，反映出强劲的恒生指数变现主要由AI/科技相关股票推动。具体来看，大摩指出，到目前为止，南向资金贡献最大，外国长线投资者仓位较低，仍有增配空间：年初至今南向资金净流入强劲，达到170亿美元，主要流向IT和通信服务行业，日均净流入额从2024年的4.2亿美元翻了一番，达到8.81亿美元。截至2025年1月31日的数据表明，目前为止全球大型长线投资者仍拥有相当大的相关行业的低配仓位，年初至今其低配仓位进一步增加。在经历了长期的有限关注之后，全球投资者开始重新评估中国在科技和AI领域的可投资性。那么，下一步，中国市场将如何演变？大摩表示，短期内，AI/科技股和非AI/科技股的分化表现可能延续：在三月全国人民代表大会召开之前，我们正处于政策真空期，对宏观经济放缓的担忧可能会减少广泛的贝塔投资机会。此外，中国在AI、人形机器人、电动汽车等领域取得的最新突破可能会进一步促使政府政策继续专注于制造业和科技资本支出扩张，而远离消费刺激。","news_type":1,"symbols_score_info":{"HSI":1.1,"HSCEI":1,"YANG":1,"HSTECH":1}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":5,"commentSize":2,"repostSize":1,"favoriteSize":1,"likeStatus":false,"favoriteStatus":false},"isCrawlerRequest":true}