澳大利亚的股票市场在2025年落后于全球同行,原因是过度依赖银行和采矿业、收入低和技术暴露程度低,尽管2026年有可能反弹。 Australia’s stock market lagged global peers in 2025 due to overreliance on banks and mining, weak earnings, and low tech exposure, despite potential for rebound in 2026.

2025年,由于严重依赖银行和采矿业,澳大利亚的股票市场表现不佳,这些银行和采矿业占到ASX 200的近一半,而全球收益的技术核心仅占3%。 The Australian share market underperformed global peers in 2025 due to heavy reliance on banks and mining, which make up nearly half the ASX 200, while tech—key to global gains—accounts for just 3%. 收入疲软、三年利润下降、国内和中国经济压力高估,对业绩造成压力。 Weak earnings, declining profits for three years, and high valuations amid domestic and Chinese economic pressures weighed on performance. 尽管在金融和材料方面略有增长,投资者的情绪却转向风险更大、更有活力的市场。 Despite modest gains in financials and materials, investor sentiment shifted toward riskier, more dynamic markets. 对集中度的担忧日益加剧，尤其是在CBA股价突破3000亿美元后下跌了20%。 Concerns grew over concentration, highlighted by a 20% drop in CBA’s share price after hitting $300 billion. UBS预测2026年采矿利润和收入增长会更强劲,可能会引发反弹,一些分析家指出,如果技术市场面临波动,ASX的稳定性会带来优势。 UBS forecasts stronger mining profits and earnings growth in 2026, potentially sparking a rebound, with some analysts noting the ASX’s stability could offer an advantage if tech markets face volatility.