2025 Q3 Global Financial Markets Review

 

In the third quarter of 2025, global equity markets delivered divergent performances, with Chinese assets (A-shares, Hong Kong stocks) and U.S. technology stocks emerging as the primary growth drivers. The Fed's interest rate cuts fueled a rebound in U.S. equities, led by the NASDAQ Composite (+11.24%), primarily driven by tech giants such as Apple, NVIDIA, and Tesla. The S&P 500 Index (+7.79%) and Dow Jones Industrial Average (+5.22%) also posted solid gains. China's economic recovery and policy support boosted A-shares, with the technology and consumer sectors leading the advance. The ChiNext Index surged +50.40%, recording its largest quarterly gain on record and ranking first among major global indices. The Shenzhen Component Index (+29.25%) and Shanghai Composite Index (+12.73%) both registered their strongest quarterly performances since 2019. Benefiting from China's economic recovery and improved global liquidity, the Hong Kong market saw significant increases, with the Hang Seng Index (+11.56%) and the Hang Seng Tech Index (+21.93%) both achieving notable gains.

 

 

AQUMON Flagship Portfolio Performance Highlights: Dual Confirmation of Steady Returns and Excellent Risk Control

 

AQUMON's two flagship portfolios – Smart Global and Smart Global Max – continued their strategic advantages, delivering impressive results in both return elasticity and risk-adjusted capabilities, providing clients with a holding experience combining both offensive and defensive characteristics.

 

As the core portfolio anchored in the Hong Kong market, Smart Global portfolio has demonstrated strong momentum in its recent one-year performance, with all risk-level portfolios achieving double-digit returns. Specifically, the Balanced type (15.37%), Growth type (17.24%), and Aggressive type (19.29%) all delivered returns exceeding 15%. It is particularly commendable that the Aggressive type portfolio (80% stocks + 20% bonds) maintained an offensive stance even in the third quarter alone, achieving a 9.92% return. This demonstrates the strategy's short-term explosiveness and long-term stability amid periodic fluctuations in the Hong Kong market.

 

 

The Smart Global Max portfolio, targeting the US market and leveraging AQUMON's algorithmic engine for precise control over asset rotation and volatility prediction, also delivered solid performance over the past 12 months. The Balanced type (+11.61%), Growth type (+12.94%), and Aggressive type (+14.07%) similarly achieved double-digit returns. More notably, in Q3 2025, the Sharpe Ratios for all risk types within this portfolio ranged impressively from 4.46 to 5.00, far exceeding the performance of mainstream market indices (the S&P 500's Sharpe Ratio was 3.15 during the same period). This ability to deliver "excess risk-adjusted returns across all risk levels" is a direct manifestation of AQUMON's algorithmic empowerment and provides investors with different risk preferences an ideal choice that "seeks both returns and steadiness."

 

 

 

Popular Thematic Portfolios: Precisely Capturing Market Opportunities

 

Amid the major trend driven by technology, AQUMON's thematic investment portfolios demonstrated exceptional foresight in capturing opportunities through keen insights into industry trends. Our Chinese Tech Stars portfolio achieved an outstanding return of 30.80% in Q3 2025, with a year-to-date return soaring to 48.28%, fully reflecting our team's professional expertise in technology investment. Additionally, the HK Market Leaders portfolio (+11.62%) and the Global Tech Giants portfolio (+10.65%) also performed admirably, with both strategies achieving single-quarter returns exceeding 10%, highlighting the effectiveness of our diversified thematic investment strategies.

 

 

 

2025 Q4 Global Financial Market Outlook

 

In the fourth quarter of 2025, global financial markets are expected to present a landscape of "structural divergence under dominant accommodative liquidity": the Fed is anticipated to continue interest rate cuts in Q4, likely weakening the USD and boosting risk assets, although geopolitical conflicts and US debt expansion pose primary disturbances. US tech stocks remain the core driver, but high-valuation sectors require vigilance regarding profit verification pressures. In Mainland China, resonating with policy support and a weak economic recovery, accelerated foreign capital inflows are expected, potentially sustaining the strength of the A-share technology and consumption themes. The Hong Kong market, supported by sustained southbound fund inflows and Fed rate cuts, could see further gains in the Hang Seng Tech Index. Key risks to monitor include: 1.Intensifying US recession expectations potentially amplifying global risk appetite volatility; 2.A slower-than-expected pace of domestic demand recovery in China potentially dampening market sentiment.

 

In these complex market conditions, AQUMON will continue to leverage our quantitative research methodologies and expert team to strive for the delivery of long-term, prudent services for our investors.

 

 

About us

AQUMON is a Hong Kong based award-winning financial technology company. Our mission is to leverage smart technology to make next-generation investment services affordable, transparent and accessible to both institutional clients and the general public. Through its proprietary algorithms and scalable, technical infrastructure, AQUMON’s automated platform empowers anyone to invest and maximize their returns. AQUMON has partnered with more than 100 financial institutions in Hong Kong and beyond, including AIA, CMB Wing Lung Bank, ChinaAMC, and Guangzhou Rural Commercial Bank. Hong Kong University of Science and Technology, the Alibaba Entrepreneurs Fund, affiliate of BOC International Holdings Limited, Zheng He Capital Management and Cyberport are among AQUMON's investors. 

 

The brand is held under Magnum Research Limited and is licensed with Type 1, 4 and 9 under the Securities and Futures Commission (SFC) of Hong Kong. AQUMON is also licensed by the U.S. Securities and Exchange Commission (SEC) and the Asset Management Association of China (AMAC).

 

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