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31.07.2025 12:20:37

State Street Global Advisors: Aktien-Kompass für Q3 2025: Resilienz suchen, aber Chancen nutzen

                                                           
 
 
 
 
SSGA
 
 
Aktienmärkte im 3. Quartal
 
 
 
 
Trotz der Belastungen durch Zölle und geopolitische Spannungen trotzen die Aktienmärkte weiterhin den Erwartungen - ein schwächerer US-Dollar, robuste Unternehmensgewinne und eine wiedererstarkte Risikobereitschaft der Anleger trugen im zweiten Quartal zur positiven Entwicklung bei.

Unser Aktien-Kompass für das dritte Quartal beleuchtet diese Mal vier zentrale Bereiche, die Anleger in diesem volatilen Umfeld im Blick behalten sollten, um gut positioniert für die Chancen der globalen Aktienmärkte in Q3 zu sein:
  • US-Resilienz: Large Caps bieten in unseren Augen defensive Stärke, während Mid- und Small Caps profitieren könnten, falls fiskalische Impulse und Zinssenkungen greifen. Ein schwächerer Dollar kann zusätzlich unterstützend wirken.
  • Heimvorteil Europa: Bei einigen europäischen Large Caps macht sich indes Anlegerermüdung bemerkbar, doch Small Caps sind weiterhin attraktiv bewertet und daher möglicherweise besser positioniert, um von binnenwirtschaftlichen Stimuli zu profitieren.
  • Schwung in den Schwellenländern: Chinas KI-Renaissance und ein schwächerer US-Dollar beleben die Emerging Markets. Mit nach wie vor attraktiven Bewertungen sind EM-Aktien gut aufgestellt für eine Aufholbewegung.
  • Ein Blick auf die Währungsrisiken ist wichtig: Angesichts anhaltender Dollar-Volatilität bleibt Währungsabsicherung ein wichtiger Aspekt für Anleger ausserhalb des Dollarraums.
 
 
Broad Equity Compass
 
 
 
 
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