Li Xunlei: Opportunities and risks are focused on technology stocks, and gold and rare earths can still rise.

Li Xunlei, the chief economist of Zhongtai International, wrote in his article that from the perspective of asset allocation, the current focus should still be on growth. Whether it's the US stock market or the A-share market, technology stocks and innovative pharmaceuticals are performing well. These are all the results of technological development and progress. As for the A-share market, taking the Shanghai and Shenzhen 300 as an example, its price-earnings ratio is around 14 times, significantly lower than the S&P 500's 29 times and Nasdaq's 41 times, indicating that we have a certain valuation advantage. In terms of asset allocation, the allocation plan I provide is 50% stocks, 30% government bonds, 20% gold. I have been optimistic about gold for ten years. When I recommended gold at $1200 per ounce, it is now $3600 per ounce, an increase of 200%, indicating that gold can withstand the test of time. I still remain optimistic about it. Under the background of interest rate cuts, bulk commodities related to AI, new energy, and electric vehicles, such as copper, aluminum, and rare earths, can still rise.