BlackRock says it remains optimistic about investment opportunities related to the theme of artificial intelligence, but will also make minor adjustments to portfolio allocations based on the actual situation. The broad winners in the construction phase of artificial intelligence will be the focus, as there are beneficiaries in sectors outside the technology industry, such as energy and utilities. Investment in artificial intelligence is just beginning. However, the valuation fluctuations of artificial intelligence stocks reflect the uncertainties of the future. A chip giant's market value has risen to $3 trillion, and the significant increase in market value and stock price fluctuations reflect the huge investment expectations and uncertainties brought by the field of artificial intelligence. Bullish on equity investment opportunities in markets such as the Chinese stock market globally. Chinese Stock Market Given the positive signals from policies, BlackRock has raised its view on Chinese stock assets to moderately overweight. Currently, Chinese stocks are significantly undervalued compared to developed markets stocks, and the Chinese government's planned major fiscal stimulus measures are expected to help attract investors to the market. However, as the Chinese economy still faces structural challenges, BlackRock is also ready to adjust allocations at any time and will continue to observe the actual effects of policies. US Stock Market BlackRock believes that the upward trend in the US stock market is expected to expand, with broad profit growth and a preference for high-quality assets leading BlackRock to be overall overweight on US stocks. Additionally, they are optimistic about opportunities related to the theme of artificial intelligence and hold an overweight view on related sectors. Profit growth of technology companies continuously exceeding high expectations has led to an increase in the valuation of companies benefiting from the development of artificial intelligence. Falling inflation is expected to provide further support for industries outside the technology sector with higher profit margins. Japanese Stock Market BlackRock continues to be overweight on Japanese stocks but has reduced the degree of overweight. Japan's clearer economic prospects and corporate reforms are driving increases in corporate profits and shareholder returns. However, the risk lies in the appreciation of the yen, which hampers corporate profitability, and the ambiguous signals from the Bank of Japan's policies. Indian Stock Market Emerging market stocks are relatively discounted compared to developed market stocks, and in the long term, the valuation of Indian stocks remains reasonable. At the strategic allocation level, BlackRock is overweight on emerging market stocks and believes that emerging markets such as India will benefit from the opportunities brought by the convergence of disruptive trends.