---
title: "汇丰策略师 Kettner 削减美国股票配置，青睐全球其他地区"
description: "汇丰策略师 Max Kettner 将美国股票配置减半，转向新兴市场和欧洲市场，因经济动能强劲。团队保持风险偏好，指出关键周期性指标有所提升。Kettner 表示更倾向于强周期性动能，认为技术面、仓位配置和市场情绪的积极态势可抵消地缘政治和贸易摩擦带来的波动。"
type: "news"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/277056638.md"
published_at: "2026-02-26T14:18:28.000Z"
---

# 汇丰策略师 Kettner 削减美国股票配置，青睐全球其他地区

> 汇丰策略师 Max Kettner 将美国股票配置减半，转向新兴市场和欧洲市场，因经济动能强劲。团队保持风险偏好，指出关键周期性指标有所提升。Kettner 表示更倾向于强周期性动能，认为技术面、仓位配置和市场情绪的积极态势可抵消地缘政治和贸易摩擦带来的波动。

汇丰策略师将美国股票超配比例减半，在经济动能强劲的背景下，转而配置新兴市场和欧洲市场。由 Max Kettner 领导的团队仍坚定保持风险偏好，指出过去两个月关键周期性指标（如支出和制造业）有所提升。Kettner 表示，“我们更倾向于这种更强的周期性动能，目前对美国以外的股票市场持更超配立场。” 策略师们认为，技术面、仓位配置和市场情绪的积极态势，足以抵消地缘政治、贸易摩擦及人工智能担忧引发的波动。

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