讀後心得

U.S. President Trump announced reciprocal tariffs, causing an impact on global trade, with the stock and bond markets likely to be affected. Market analysts suggest that investors should focus on U.S. domestic demand assets, particularly in sectors such as utility stocks, telecom bonds, and financial bonds, to prepare for the upcoming market volatility. These assets are viewed as defensive investments that can help address inflation and tax risks. Additionally, ETF experts point out that the rise in gold prices may alter the global investment landscape, encouraging investors to diversify their portfolios in search of new safe havens.

The announcement of equivalent tariffs by the United States has had a profound impact on global trade partners. Market analysts point out that Trump's unpredictable attitude towards taxation may harm the performance of the stock and bond markets in the first half of the year. Investors should consider focusing on three major domestic assets: utility stocks, telecom bonds, and financial bonds, which are known as the "new defensive investment three brothers," providing robust options for future capital allocation and creating a safe haven for 2025.

With Trump's announcement of equivalent tariffs, global financial markets have been significantly impacted, and the market expects that the stock and bond markets will continue to be affected by tariffs this week. Additionally, the global economy faces three adverse factors: currency wars, escalating technology wars, and a recession in the US economy, leading the market to still confront volatility risks. Looking forward to the second quarter, investment firms suggest that investors should adjust their asset allocation direction from offensive to defensive, anticipating that America's domestic industries, especially utility stocks, telecom bonds, and financial bonds, will become priority protective investment choices.

Regarding ETF investments, experts analyze that with the implementation of the new tariffs in the US and discussions about the Federal Reserve's possible interest rate cuts, the market faces challenges. Recently, gold prices have been rising continuously, indicating that global investment allocation may be changing, with capital seeking new safe havens. In this context, traditional hedging tools—gold and US treasuries—may no longer be the only options, and investors should also consider allocations in domestic industries like US utilities, telecoms, and finance.

In relation to the upcoming fundraising ETF—Shin Kong US Utility Infrastructure—the manager expressed optimism about the US utility industry, noting its competitive advantages and stable growth potential, especially against the backdrop of a sharp increase in future electricity demand, which presents a good investment prospect. Furthermore, the investment potential in the telecom and financial sectors is also noteworthy; the high and stable yields from quality bonds in these sectors can attract investors seeking reliable returns.

Overall, capital flow in the second quarter will revolve around these defensive industries, and in the medium to long term, the performance of these stocks and bonds is worth looking forward to.