CIC Zhang Zili: Positive and feasible, seize the opportunity of US stock diffusion
1min read With the 2024 US election settled, the market's focus has shifted to the uncertainty of Trump's policies. Trump advocates tax cuts, loose fiscal policy, support for traditional energy and the return of manufacturing, which will have a significant impact on global capital pricing and asset allocation.Jiaxin Asset Management's Zhang Zili believes that in the "Trump 2.0 era", the market environment has changed a lot from when Trump won the election for the first time in 2016. In this context, will the US stock market see a "Trump trade" again? From the current market performance, the market sentiment has risen in the short term after the election results, and the risk appetite has increased.From the perspective of asset allocation, US stocks are generally better than US bonds. The US bond yield curve is steepening, gold is long-term bullish, and the US dollar is strong. We are optimistic about the US stock market. The market has already fully priced in the risk of economic recession, and the fundamentals of corporate profitability, new funds, and interest rate environment are still solid.Looking ahead, the US stock market is expected to see a spread-out rise. At present, the valuation of US stocks is relatively low compared to the historical average, and corporate earnings growth is continuously digesting valuations. Under the background of Trump's policies, active stock selection and Alpha opportunities will become the main melody of the market.Investors can pay attention to the banking, industrial, energy, raw materials and pharmaceutical industries. However, the specific impact needs to be tracked according to policy updates. In the current macro environment and cycle changes, asset diversification and industry rational allocation are crucial.In general, in the "Trump 2.0 era", the US stock market still has investment value. Investors can choose corresponding direction funds according to their risk tolerance and fund attributes, and lay out long-term through methods such as regular investment.
