Mars Finance reports that, according to Jintiao, HSBC strategists have halved their exposure to the U.S. stock market and increased investments in emerging markets and Europe, due to the strong economic conditions in the latter. Over the past two months, key cyclical indicators such as consumption and manufacturing have shown growth. The strategists stated that the positive technical outlook, positioning, and market sentiment can offset concerns related to geopolitics, trade, and artificial intelligence. As of now this year, the S&P 500 has risen by 1.5%, the global stock index excluding U.S. stocks has increased by 11%, and the emerging markets benchmark index has gained 15%.