它真正有用多少信息？ Vingraph是中国金融世界中早晨和晚上的每日图形列，它为专注于全球市场的专家提供了简单，精确和完整的概述。每天仅几分钟就领导市场。本文的内容并不构成投资建议。长期解释：本文是晨报。如果您想查看夜间报纸，周末特别和相关的研究报告，请在知识星球上阅读。地球分类是上个月启动的。恭喜下一个小组成员有关私人背景消息接收128元更新优惠券 中国外国直接投资的持有人继续降低并诉诸高盛的负面增长：这是一项政策，而不是高评分，这决定了上升市场的罚款，而摩根士丹利的储蓄率非常高：中国是基于各种深fac的基础TOR。定居点和外汇销售的盈余大大减少了，买外汇的市场处置得到了极大的加强。中国的直接投资连续两年在中国的价值投资下继续净出口，但规模降低。中国的制造盈余超过20亿美元。在考虑了利润的增长之后，对美国行动的评估在合理的历史范围内。华尔街对美国的乐观情绪分享了利润的观点。 uu。它冷却。美国科技公司的收益指南远远超出了所有其他行业。历史数据显示，本周是美国股票市场中一年中最糟糕的一周。曼城说，美元削弱是一个技术因素。美元的弱点给外国投资者造成了损失。花旗已经降低了其资格，质疑了Nvidia对国际贸易委员会的投资。 fiTCH提高了主权信用评级。 Argenx信心市场的生物技术公司的增长已成为欧洲股票市场的新领导者。英国政府的贷款远远超出了预期。财务压力很大。日本政府债券的收益率达到了数十年。贸易的影响分为两个完全不同的营地。泰国将减少您的贷款并收紧您的税收收入。随着债务接近限制，财政收入减慢。 NAMA频道上的Pensilvanials交通量将主要变为美国费率。中国1。仅商务部的数据，实际使用的外国资本数量（FDI）在8月至少降至392.4亿元人民币的最低392.4亿元，在7月份的阳性收益率和本月的11％后再次下降3.6％。八月份最弱的表现加剧了今年的持续下降趋势。在今年的前八个月，REAL对中国外国资本的使用量为50.65亿元人民币，比上一年的使用率下降了12.7％。 资料来源：极限实验室X Endraph Financial图片库2。历史经验表明，中国价值市场上向上市场的极端情况通常并不高估，但是2015年的“案件”，2021年对行业的强大监督，而2024年的政策则不如预期。简单的高评分不足以扭转趋势。例如，在2015年和2021年Mercado的最大值中，上海和深圳300索引的市盈率是17-18次，而Outlook的互联网部门的关系曾经达到约40倍。鉴于股票市场在资源和创造财富的分配方面的战略重要性越来越大，高盛认为，除非有明显的投机泡沫，否则政策不太可能积极抑制市场。资料来源：高盛（“中国是：如何处理中国行动？中国上升市场上的经常询问投资者（流动性）”，3。中国家的储蓄率是一个极端的例外，几乎可以收入的储蓄收益率几乎是其他主要经济体的平均值，是其他主要经济的平均值。GDP及其水平和持续时间，诸如日本的普遍性和危机，诸如此类的危机。储蓄需求正在增加薪水，收入本身的不确定性可能增加了几个百分点。 资料来源：摩根士丹利（“我期待接下来的五年计划'第1部分：社会福利改革”，4。国家货币管理局的数据显示，八月份代表客户的银行的协议和销售额为145亿美元，是145亿美元的盈余，以及一个月的重要过滤率，14.5美元的过滤率是14.5亿美元。以货币出售的货币十亿美元，汇率为一个月，增加到67.67％。 资料来源：Chinkka Lab X Fimgraph Financial Gallery 5.Nes和净流量为75亿美元。赤字从上个月的30亿美元增长，自2022年7月以来一直保持着连续的网络溢出。 资料来源：Chinkka Lab X Fimgraph Financial Gallery 6。根据与银行有关的外交付款的外交付款数据，8月的净出口净出口为304亿美元，上个月的赤字大幅减少了583亿美元。与证券投资有关的门票为2387亿美元，退出为26991亿美元。 资料来源：Chinkka Lab X Fimgraph Financial Gallery 7。根据与银行客户有关的外交付款数据，八月份的收据和付款之间的差额为411亿美元，上个月狭窄比514亿美元窄。其中，本月的盈余基本产品交易从514亿美元扩大到729亿美元，贸易服务赤字从109亿美元减少到98亿美元。 资料来源：Limit Lab X Fimgraph Financial专辑8。在2025年8月的最后12个月中，中国的制造盈余超过了20亿美元。这个数字占中国GDP的11％，GDP的全球比例达到了两个百分点。 资料来源：Brad Setser9。全球石油市场的透明度显着下降，目前的石油价格将不准确。它确实反映了供求的真正平衡。首先，作为世界第二大石油消费者，中国尚未宣布其官方库存，但卫星图像表明，其陆地原油库存在2025年增加了7300万桶。其次，“弗兰·弗洛塔斯玛（Flan Floottasma”nd，进一步增加了世界石油的13％的13％（13。天）。它涵盖了实际流量。 比率p/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e。 /e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e // e/e/e/e/e/ e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e。 /e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e。 /E/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e // e/e/ E/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e // e/ e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e。 /e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e。 e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e。 /e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e。 /e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e。 /E/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e一下e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e。 /e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e。/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e。 /e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e。 /e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e // e/e/ e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e // e/ e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e // e/ e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e // e/ e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e // e/ e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e // e/ e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e/e // e/ E/E/E/E/E/E/E/E/E/E/E/E/E/E/E/E/E/E/E/E/E/E/E/E/E/E/E/E/E/E/E // E // E/欧洲股票的当前钉600指数也是1.4次，与标准普尔500指数相同。 资料来源：Allianz Research（证券市场 - 泡沫还是繁荣？）2。根据LSEG Revenue Review趋势数据，今年夏天，今年夏天的标准普尔500指数组件的分析师对标准普尔500指数组件的收入前景的乐观情绪。 ANA的百分比提高收入预期的LYST继续从70％以上降至56％的早期，但期望的百分比从最低少于30％到30％至44％的人恢复，这表明，在一段时间内，高信心后，市场对公司的未来盈利能力越来越谨慎。 资料来源：LSEG3。从2025年的第三季度开始，标准普尔500指数的总共36家信息技术公司发行了远高于其他部门的正收益指南。大多数主要是消极方向。 来源：FACTSET4。根据1990年的历史数据，本周（年度谈判的第三周和第三周）是标准普尔500指数最糟糕的一周，最常见的每周最常见的每周超过1％。光谱市场表明了这一特殊的季节性法律，但强调自2025年以来，季节性法律不是有效的商业工具。今年的一系列随机政策和宏观经济冲突超出了传统的资本流程投资者的行为模式，这些投资者会带来季节性影响，从而导致历史法的一再失败。 资料来源：Sherwood5。花旗已经发表了一份报告，尽管美元在2025年下跌了近9％，但流行的“出轨”叙述没有经济数据。该报告说，美国付款余额数据并未表明外国投资者以美元的价格出售显着活跃。相反，花旗认为最近的美元应该是由于定位投资者和覆盖率关系变化而不是结构性资本飞行等技术因素。因此，花旗强调有必要区分“美元折旧的风险”和“出轨”。并且，根据这些技术因素，银行的美元仍然疲软，预计到今年年底，欧元兑美元汇率将增加到1.20。 资料来源：彭博6。美元最近的弱点造成了真正的损失，否认了外国投资者。为了例如，S＆P 500指数以美元为单位，今年的收益率超过10％，但是当成为欧元时，收益率为负。分析师估计，外国投资者与美国股票和债券的当前覆盖率。它保持在历史平均水平以下。如果在过去的十年中恢复正常水平，它可能会触发一笔高达10亿美元的额外的ventas订单，继续按美元按汇率施加压力。 资料来源：彭博7。在美联储降低利率之后，美国OPI市场已迅速恢复。本月，从2020年开始，有14家公司从其最高水平筹集了约70亿美元。其他公司正在等待公司的解放，预计将在强制性等待期间在15天的强制性等待期内推出路演。它是固定的。 资料来源：彭博8。在NVIDIA宣布投资5 B的投资之后Intel的Illion在周四推出了Chips Technology合作，并于周四推出了一日筹码技术合作，一天内增长了23％。曼城指出，战略合作的深度值得怀疑。他指出，这是对政治目的的表面态度，并不能解决英特尔最重要的制造技术的对立面。此外，长期困难，例如AMD等竞争对手的持续竞争压力和公司市场份额的损失。因此，曼城确定，由于前一天的增加，资格偏离了基本概念。 欧洲1。自2021年以来，惠誉首次将其意大利主权信用评级提高到自2021年以来首次获得评级，这一措施被视为一项运动是对梅洛尼政府的财政纪律的罕见信任投票（三项资格，在Garbage上获得了三项资格）。惠誉认为步行归因于意大利在减少财政赤字，持续改革的冲动，增强市场对财政轨迹的信心以及降低遵守新承诺赛的财政框架的进展。 资料来源：彭博2。欧洲证券市场欢迎这家新领先的生物技术公司，并在周一正式纳入欧洲股票50指数中，成为自2002年以来首位进入参考指数的生物技术公司。自从荷兰以来的行动已增长了7,200％，目前荷兰的市场价值超过了380亿欧元，超过了欧洲。它的主要控制器是Vyvgart，这是一种处理自身免疫性疾病的药物。在欧洲股票市场的主要公司短缺的高增长领域（例如技术和生物技术）中，Argenx的增加将填补空白。 资料来源：根据该报告的数量英国国家统计局的雷诺·恩多（Reino Unido）公共部门的净贷款在8月的180亿英镑，远远超过了128亿英镑市场的预期。 Agostolos Data在财政年度的前五个月（4月至8月）增加了838亿英镑的总净贷款，增加了114亿英镑的官方预测。持续的财政支出将严重减少里夫斯总理在新的11月预算中的政策空间，市场通常预计税收增加是明显的结论。数据发布后，天秤座倒下，过去两个月中最大的两天下降。 资料来源：限制实验室X Endraph Fanguph Financial Atlas日本政府在亚太地区的债券已经提高到自1995年以来的最高水平（目前为1.5％），但30年的收益率达到了历史最高最高（目前为3.5％）。最初，收益率的增加主要是由重新促进的风险和rebalancin引起的在定量硬化的背景下的供求g。但是特朗普的“关税冲击”表明，长期收益率与受控的定量紧缩政策的分离。目前，商业不确定性及其财务和财务影响会促进收益率的变化。 资料来源：Allianz Research（“日本银行的耐心游戏”）新兴/边境市场1。新兴的亚洲股市不是一个独特的投资问题，而是内部分为两个主要营地，对全球经济周期和美元的趋势（Beta）敏感。第一个训练营是代表韩国的“ Alto Beta”市场。由于其经济在很大程度上取决于出口，因此它对全球经济不确定性和美元的估值更为敏感。它在上升市场上更具抵抗力，并且正在更深入地进入看跌市场。另一个营地是印度，印度尼西亚和菲律宾指导的“ beta”市场。经济这些国家以国内需求为主，股市绩效更加防御性，从而减少了全球宏观环境与美元波动之间的关系。 资料来源：Morgan Stanley2。由于公共债务接近GDP的70％的法定限额，泰国政府计划在10月的新年一年中将财政政策的变化从约8％降低至992亿泰铢（约31亿美元），并更改了财政政策。这与本财政年度的贷款增加了8％形成对比。尽管开始了硬化，但中期的官方财政框架仍在增加公共债务与Tailanday的GDP的关系，预计在2029财政年度，它的财务空间仍然非常有限。 资料来源：彭博3。巴拿马运河办公室预计该频道的平均每日流量在2026年为33，最大负载能力少于36。这种期望的主要原因不是干旱，而是过去两年，而是美国关税政策造成的经济影响。运河官员表示，2025年，美国进口商在2026年初购买了大量大量购买，以避免关税，而2026年的需求将提前窃取需求，而费率本身也将阻止消费者的未来需求。渠道流量对于巴拿马政府的资金很重要。渠道收入占总收入的20-25％。预计，与2025财政年度相比，2026财政年度的预算将减少4亿吨的总吨位。 资料来源：限制实验室X Fimgraph Financial Atlas描述：本列中选择的信息仅反映了列出的机构或分析师的意见，并由读者参考。这不构成个人或机构的投资建议，不能被视为邀请或通讯交换价值产品。要查看更多内容，请遵循官方帐户。按照相关帐户避免联系损失。 特别声明：本文已由NetEase，NetEase的Auto-Media平台的作者收取和发表，并且仅表示作者的意见。 Notease仅提供信息启动平台。 注意：以前的内容（如果您有照片或视频）将由社交媒体平台NetEase Hao的用户收取和发布