<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US><o:p><FONT face="Times New Roman"> </FONT></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><B style="mso-bidi-font-weight: normal"><SPAN lang=EN-US><FONT face="Times New Roman">[</FONT></SPAN></B><B style="mso-bidi-font-weight: normal"><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">全球主要股指</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">]<o:p></o:p></FONT></SPAN></B></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt 10.7pt; TEXT-INDENT: -0.2pt; mso-para-margin-left: 1.0gd; mso-char-indent-count: -.02"><SPAN lang=EN-US><FONT face="Times New Roman">9</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">月</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">3</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">日收盘：上证指数</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">2655.39</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">，跌</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">0.01%</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">；沪深</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">300</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">指数</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">2920.21</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">，跌</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">0.04%</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">；中小板指</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">6216.16</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">，涨</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">0.35%</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">；恒生指数</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">20971.50 </FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">涨</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">0.49%</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">；德</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">DAX 6134.62 </FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">涨</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">0.83%</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">；道琼工业</SPAN><SPAN lang=EN-US><FONT face="Times New Roman"> 10447.93 </FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">涨</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">1.24%</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">；纳斯达克</SPAN><SPAN lang=EN-US><FONT face="Times New Roman"> 2233.75 </FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">涨</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">1.53%</FONT></SPAN></P>
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<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><B style="mso-bidi-font-weight: normal"><SPAN lang=EN-US><FONT face="Times New Roman">[</FONT></SPAN></B><B style="mso-bidi-font-weight: normal"><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">瑞达国内宏观观点</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">]<o:p></o:p></FONT></SPAN></B></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="COLOR: black; mso-bidi-font-size: 10.5pt"><o:p><FONT face="Times New Roman"> </FONT></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><B style="mso-bidi-font-weight: normal"><SPAN lang=EN-US style="FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体">1. 8</SPAN></B><B style="mso-bidi-font-weight: normal"><SPAN style="FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体">月非制造业<SPAN lang=EN-US>PMI</SPAN>持稳在<SPAN lang=EN-US>60.1</SPAN>，继续在高位稳健扩张，<SPAN lang=EN-US>8</SPAN>月汇丰中国服务业指数创四个月来最大增幅<SPAN lang=EN-US><o:p></o:p></SPAN></SPAN></B></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><B style="mso-bidi-font-weight: normal"><SPAN lang=EN-US style="FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体"><o:p> </o:p></SPAN></B></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US><FONT face="Times New Roman">8</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">月中国非制造业商务活动指数</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">(PMI)</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">持稳在</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">60.1</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">，表明建筑业和服务业持续在高位稳健扩张。从分项数据来看，</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">8</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">月中间投入价格指数持续攀升，上涨</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">2.9</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">个百分点至</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">59.3</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">，服务业价格持续上行预示</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">8</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">月的通胀不容乐观。</SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US><FONT face="Times New Roman">8</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">月汇丰中国服务业指数进一步回升至</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">57.6</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">，扩张明显，并创下四个月来最大增幅，主要缘于新接业务增加，以及贸易环境利好。不过经季节性调整的投入价格指数</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">8</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">月攀升至</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">27</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">个月高位，反映出一系列原料价格和劳动力相关成本上升。同时也暗示企业未来面临的成本压力加大。</SPAN></P>
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<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><B><SPAN lang=EN-US><FONT face="Times New Roman">2.<SPAN style="mso-spacerun: yes"> </SPAN></FONT></SPAN></B><B><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">发改委：抑制汽车产业产能过剩</SPAN><SPAN lang=EN-US><o:p></o:p></SPAN></B></P>
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<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">由于汽车工业具有产业链长、带动性强的特点，大规模发展汽车工业成为地方政府全力推动经济发展的重点，在利益驱动下，规划产能被盲目抬高。发改委称从根本上抑制产能过剩</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">,</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">重点要依靠财税体制和投融资体制等方面的改革。</SPAN></P>
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<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><B><SPAN lang=EN-US><FONT face="Times New Roman">3.<SPAN style="mso-spacerun: yes"> </SPAN></FONT></SPAN></B><B><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">上海房市“沪</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">5</FONT></SPAN></B><B><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">条”</SPAN><FONT face="Times New Roman"> <SPAN lang=EN-US><o:p></o:p></SPAN></FONT></B></P>
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<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体">9</SPAN><SPAN style="FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体">月<SPAN lang=EN-US>3</SPAN>日，上海市住房保障和房屋管理局下发进一步加强上海市房地产市场监管规范商品房住宅预售行为的通知，通知重申了“<SPAN lang=EN-US>3</SPAN>万平方米以下楼盘必须一次性上市预售”的规定。沪<SPAN lang=EN-US>5</SPAN>条可一定程度上增加房屋供给，但我们预计对上海房价的影响不大，只是为了缓解可能即将到来的房屋需求压力作一定的预防铺垫，而最大的变数仍然来自房产税。<SPAN lang=EN-US><o:p></o:p></SPAN></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体"><o:p> </o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><B><SPAN lang=EN-US><FONT face="Times New Roman">4.<SPAN style="mso-spacerun: yes"> </SPAN></FONT></SPAN></B><B><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">国务院批准杭州等</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">10</FONT></SPAN></B><B><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">个城市土地利用规划</SPAN></B><SPAN lang=EN-US style="FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体"><o:p> </o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">国务院已正式批准杭州、南昌、郑州、武汉、南宁、平顶山、安阳、荆州、湘潭、柳州</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">10</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">个城市土地利用总体规划，标志着市级土地利用总体规划正式进入批准阶段。规划将对耕地保有量和基本农田保护面积的控制指标，对中心城区建设用地控制规模，人均城镇工矿用地控制规模进行详细的规定。</SPAN><SPAN lang=EN-US style="FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体"><o:p> </o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-family: 宋体"><o:p> </o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt 10.95pt; TEXT-INDENT: -10.95pt; mso-char-indent-count: -1.04"><B style="mso-bidi-font-weight: normal"><SPAN lang=EN-US><FONT face="Times New Roman">[</FONT></SPAN></B><B style="mso-bidi-font-weight: normal"><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">瑞达国际宏观观点</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">]<o:p></o:p></FONT></SPAN></B></P>
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<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US><FONT face="Times New Roman">1. </FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">美国</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">8</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">月季调后非农就业人口减少</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">5.4</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">万人</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">, </FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">预期减少</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">10</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">万。</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">8</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">月失业率</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">9.6%</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">与预期相符。美国非农就业报告优于预期，缓解了市场对美国经济疲弱的忧虑，就业市场情况好转迹象越趋明显。</SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US><FONT face="Times New Roman">2. </FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">美国</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">8</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">月份</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">ISM</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">非制造业指数由</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">7</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">月份的</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">54.3</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">降至</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">51.5</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">，略显经济扩张增速放缓。</SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US><FONT face="Times New Roman">3. </FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">欧元区</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">7</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">月零售销售月率上升</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">0.1%</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">，增幅超过预期，成为预示消费需求正带动经济增长的最新迹象。</SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US><FONT face="Times New Roman">4. </FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">欧元区</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">Markit8</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">月</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">PMI</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">终值</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">56.2,</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">略高于预期的</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">56.1.</FONT></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US><FONT face="Times New Roman">5. </FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">欧盟将于</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">9</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">月</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">15</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">日出台有关衍生品交易和卖空交易的新规则。该规则旨在增加交易透明度。</SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US><o:p><FONT face="Times New Roman"> </FONT></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">今日关注重点：欧元区</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">9</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">月</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">Sentix</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">投资者信心指数</SPAN></P>
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<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt 10.95pt; TEXT-INDENT: -10.95pt; mso-char-indent-count: -1.04"><B style="mso-bidi-font-weight: normal"><SPAN lang=EN-US><FONT face="Times New Roman">[</FONT></SPAN></B><B style="mso-bidi-font-weight: normal"><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">观点总结</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">]<o:p></o:p></FONT></SPAN></B></P>
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<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN style="COLOR: black; FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''; mso-bidi-font-size: 10.5pt">国内股市方面，</SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">针对上海房市的“沪</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">5</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">条”和抑制汽车产业产能过剩将对房地产和汽车行业上市公司产生一定负面影响，预计股指在可能震荡向下，但向下空间不大。</SPAN><SPAN lang=EN-US style="COLOR: black; mso-bidi-font-size: 10.5pt"><o:p></o:p></SPAN></P>
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<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">国外方面，欧元</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">/</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">美元（中性）；美元</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">/</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">日元（利好）；美指（利好）；德国国债收益率（利空）；美国国债收益率（中性）；日本国债收益率（利空）；</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">LIBOR</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-asci
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