2025年第三季度全球金融市场回顾

 

2025年第三季度，全球股市表现分化，中国资产（A股、港股）与美股科技股成为核心增长引擎。美联储降息推动美股反弹，纳斯达克指数（+11.24%）领涨，主要受苹果、英伟达、特斯拉等科技巨头推动；标普500指数（+7.79%）、道琼斯工业平均指数（+5.22%）紧随其后；中国经济复苏与政策支持推动A股走强，科技、消费板块引领上涨。创业板指（+50.40%）以历史最大单季度涨幅位居全球主要股指首位，深证成指（+29.25%）、上证指数（+12.73%）均创下2019年以来最高单季度涨幅；香港市场受益于中国经济复苏及全球流动性改善，恒生指数（+11.56%）、恒生科技指数（+21.93%）均实现显著上涨。

 

 

AQUMON旗舰组合表现亮点：稳健收益与卓越风控的双重印证

 

AQUMON旗下两大旗舰组合——Smart Global与Smart Global Max延续策略优势，在收益弹性与风险调整能力上均交出亮眼答卷，为客户创造了兼具进攻性与防御性的持有体验。

 

作为锚定港股市场的核心组合，Smart Global在近一年表现展现了强劲的势能，全风险等级组合均实现双位数收益，其中平衡型（15.37%）、成长型（17.24%）、进取型（19.29%）组合均实现15%+的收益率。尤为值得肯定的是，进取型组合（80%股票+20%债券）在第三季度单季仍保持进攻态势，实现9.92%收益，在港股市场阶段性波动中展现了策略的短期爆发力与长期稳定性。

 

 

针对美股市场的Smart Global Max组合，依托AQUMONAQUMON算法引擎对资产轮动、波动率预测的精准把控，在近一年的表现也不俗，平衡型（11.61%）、成长型（12.94%）和进取型(14.07%)组合同样也实现了双位数收益。更令人瞩目的是，25年三季度该组合下所有风险类型的Sharpe Ratio高达4.46-5.00，远超市场主流指数表现（标普500同期Sharp Ratio为3.15）。这种“全风险等级均输出超额风险调整收益”的能力，正是AQUMON算法赋能的直接体现，也为不同风险偏好的投资者提供了“既要收益、也要稳健”的理想选择。

 

 

 

热门主题组合：精准把握市场机遇

 

在科技驱动的大趋势下，AQUMON主题投资组合凭借对产业趋势的敏锐研判精准捕捉机遇，展现出卓越的前瞻性布局能力。我们的大中华科技股组合在2025年第三季度实现30.80%的优异回报，今年以来收益率高达48.28%，充分体现了团队在科技投资领域的专业优势。此外，港股行业龙头组合（11.62%）和全球科技巨头组合（10.65%）同样表现不凡，两类策略单季收益均超10%，彰显了我们多元化主题投资策略的有效性。

 

 

 

2025年四季度全球金融市场展望

 

2025年第四季度，全球金融市场将呈现“宽松流动性主导下的结构性分化”格局：美联储预计四季度还会继续降息，推动美元走弱并提振风险资产，但地缘冲突和美国债务扩张构成主要扰动。美股科技股仍是核心驱动力，但高估值板块需警惕盈利验证压力；中国内地在政策托底与经济弱复苏共振下，外资加速流入，A股科技与消费主线有望延续强势；香港市场则依托南向资金持续流入及美联储降息，恒生科技指数或进一步上涨。风险层面需重点防范：一是美国衰退预期升温加剧全球风险偏好波动；二是中国内需修复节奏不及预期可能压制市场情绪。

 

在这一复杂市场环境下，AQUMON将继续依托量化研究方法与专业团队，力求为投资者提供长期、稳健的服务。

 

 

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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