According to online reports, Xu Changtai, chief market strategist at Morgan Asset Management's Asia-Pacific region, said that he recommended lowering the ratio of equity and debt allocation from 6:4 at the beginning of the year to 5:5, and even suggested that more conservative investors adjust the ratio to 4:6. He suggested lowering the proportion of U.S. stocks and adding more European stocks, which would reduce their holdings of companies with a high correlation between consumer non-essential goods and imports, and be optimistic about public stocks, services, financial industries, and services and research and development in the medical industry. Companies that develop drugs. He is optimistic about the markets of mainland China, China Hong Kong, Japan and Indonesia, focusing on high-quality companies with strong cash flow and bargaining power. Xu Changtai expects that the United States has the opportunity to cut interest rates as soon as the end of July. In fact, it may cut interest rates in September, October and December, and cut interest rates three times during the year, totaling 75 basis points. The current consensus in the market is to cut interest rates in June. He added that if the Federal Reserve cuts interest rates in June, the non-agricultural employment data in March and April may have to fall below 100,000 before this will happen.