---
title: "滙豐策略師 Kettner 削減美國股票配置，青睞全球其他地區"
description: "滙豐策略師 Max Kettner 將美國股票配置減半，轉向新興市場和歐洲市場，因經濟動能強勁。團隊保持風險偏好，指出關鍵週期性指標有所提升。Kettner 表示更傾向於強週期性動能，認為技術面、倉位配置和市場情緒的積極態勢可抵消地緣政治和貿易摩擦帶來的波動。"
type: "news"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/277056638.md"
published_at: "2026-02-26T14:18:28.000Z"
---

# 滙豐策略師 Kettner 削減美國股票配置，青睞全球其他地區

> 滙豐策略師 Max Kettner 將美國股票配置減半，轉向新興市場和歐洲市場，因經濟動能強勁。團隊保持風險偏好，指出關鍵週期性指標有所提升。Kettner 表示更傾向於強週期性動能，認為技術面、倉位配置和市場情緒的積極態勢可抵消地緣政治和貿易摩擦帶來的波動。

滙豐策略師將美國股票超配比例減半，在經濟動能強勁的背景下，轉而配置新興市場和歐洲市場。由 Max Kettner 領導的團隊仍堅定保持風險偏好，指出過去兩個月關鍵週期性指標（如支出和製造業）有所提升。Kettner 表示，“我們更傾向於這種更強的週期性動能，目前對美國以外的股票市場持更超配立場。” 策略師們認為，技術面、倉位配置和市場情緒的積極態勢，足以抵消地緣政治、貿易摩擦及人工智能擔憂引發的波動。

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