????:1??????????:???????

2??????

3????????????

4???????

5????????

??“??”????????????,?,????????????

?????????????????,10?????8??,????,????????1.08%????????22849.23????????,???1.73%,???1.16%??????,???15%,????8%;???????????,??14%???14%?

?????,??????????????,????????????3%,???????????????????5%,??????4%???,??????22%,?????????????19%,??????18%?

???????????????????,“?????”???????(10????????1????10????????????????4???)????,????????????????????????,????????10%,??????7.6%?

??????????,????225??????1.9%,?????????????????????????100??????0.5%,???????0.1%?

???????????500???????????0.2%???????0.3%,????????????0.9%,???????????DAX??1.1%,????CAC40???1.2%,?????Senssex30????3.1%?

??,???????,??????

??????,??????,?11%,?11.92%?????????????????????????????????????????,????????10%,???????????????????????10.70%?10.69%?10.51%????????????10.43%?

??????????????????????????????9%,??????9.47%?9.29%????9.07%?

?,??”????????,??????????,??????????

?,??10%,?4???????????????,?9?30%?

??????,?????,?????????????????,???,?????????????????80%???????????????????????????????????????????(???????)????????

“??,?????????;??????70%????,????????ADR?????????????????ADR??,?????(????),??????,????,??”???????

????????,??,?????????????????????

????????????????,???????,???????????,??,????,???????,?,????????,? ?????,?????????,????????,????????,????????50%????????????

“?????,?,???????????,??4?11.8??,??????????????2019???????????2023??????????????21.94%??????2.92%?”????????????????

?????????????????,????????????????????,???????2023???4???2024??????3?????????????81.8??????????,8????????PCE?????????2.2%,????2021????????3??,9??50bp?????,???

“????,?????????,????????????????????A???????,?????????????????”????????

??,???????,??,??????????,?????????????,???????????????,??19.5??????????,??1????????,???????????32.5%?

???:???????????