当地时间12月10日，美联储宣布年内第三次降息。 自9月开始，美联储连续3次下调基准利率，累计降息75个基点，基准利率降至3.5%—3.75%区间。欧洲 央行、英国央行等全球主要央行也开始降息，全球市场流动性逐步进入宽松环境。通胀缓解以及经济增 长放缓是主要央行政策转向的主要原因。 ...

Core Insights - Nvidia has become the first publicly traded company in the world to reach a market capitalization of $5 trillion, with its stock price surpassing $212 on October 29 [1] - The company's financial metrics continue to show rapid growth driven by factors such as technological monopoly, explosive demand, and innovative business models [1] - As of December 26, Nvidia's latest market capitalization stands at $4.63 trillion, indicating a slight decrease from its peak [1] Financial Performance - Nvidia's stock price reached $212, leading to a market capitalization of $5 trillion [1] - The company has maintained high growth rates in its financial indicators, reflecting strong demand and effective business strategies [1] - The latest market capitalization of $4.63 trillion as of December 26 shows the company's significant valuation in the tech industry [1]

债券基金截至11月底总规模达10.52万亿元，与10月底相比增长342.15亿元；合格境内机构投资者(QDII) 基金单月增超256.34亿元。较为"冷门"的FOF基金(基金中基金)单月规模也增约247.55亿元。 富国基金分析，相较过往主要集中在传统的A股、债券和ETF，现在越来越多的FOF开始纳入港股、商 品期货、公募REITs等多类资产，并融合多种策略。市场波动时，总有部分资产能"稳住阵脚"，"多元配 置、分散风险"的特性正好契合了这些投资者"求稳"的心态。 然而，11月内，因沪深股指均有不同程度调整，股票基金和混合基金即使份额微增，总规模也环比略 降。其中，股票基金规模为5.80万亿元，较10月底下降1302.01亿元；混合基金规模为3.60万亿元，较10 月底下降718.12亿元。 据中国基金业协会12月29日披露的数据，截至11月底，我国境内公募基金管理机构共165家，其中基金 管理公司150家，取得公募资格的资产管理机构15家。以上机构管理的公募基金资产净值合计37.02万亿 元，这一数值较10月末微增约600亿元。 这是公募基金规模历史上首次突破37万亿元大关，也是连续8个月创下规模新高，较年 ...

2025年全球人工智能投资建设进入高峰期。数据显示，美国五大科技公司微软、亚马逊、谷歌、 Meta、甲骨文的资本支出总额超过3700亿美元，总增速约为64%。腾讯、字节跳动和阿里巴巴等中国科 技巨头也在人工智能领域投资数百亿美元。与此同时，科技巨头在大模型和算力上的高强度投入尚未完 全转化为稳定现金流，商业化路径的不确定性开始被反复审视，人工智能"泡沫"的讨论开始升温。 2025年全球AI投资建设进入高峰期。 ...

6月29日，市民、球迷在江苏省南通市一商场内观看"苏超"比赛直播。 前三季度，河北、江苏、浙江、福建、山东、广西、四川7省区共监测了1211场重点赛事活动，带动体 育及相关消费超311.87亿元。"苏超""浙BA"等一系列地方体育赛事涌现，单场上座人数屡创新高。 从"苏超"到以"LABUBU"为代表的"谷子经济"爆火，从网上零售额连续12年全球第一到新能源车渗透率 突破50%……"十四五"时期，我国消费市场稳步扩大，结构持续优化，潜能加速释放，发展"主引擎"作 用更加凸显。 ...

Core Insights - Victory Nano officially listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on March 25, becoming the 700th A-share listed company in Jiangsu, marking a new phase for the company in leveraging capital markets for high-quality industrial development [1] - The company is recognized as a third-party testing and analysis laboratory in the semiconductor field, focusing on comprehensive testing and analysis services across the semiconductor supply chain, including failure analysis, material analysis, and reliability analysis [1] - For the first three quarters of 2025, Victory Nano achieved operating revenue of 386 million yuan, a year-on-year increase of 31.22%, and a net profit attributable to shareholders of 56.59 million yuan, up 3.59% year-on-year [1] Business Developments - The company’s third-generation production line continues to contribute stable revenue, while the fourth-generation production line has become a new engine for performance growth, utilizing transistor-level nano-probe analysis technology to address advanced process SRAM failure analysis challenges [1] - The fifth-generation production line is currently in the research and development phase, aiming to lead the forefront of semiconductor testing technology [1] Innovation and Technology - In October, the company launched China's first cross-province semiconductor testing drone route from Jinshan, Shanghai to Suzhou, marking a significant achievement in logistics model innovation [2] - The company is also focusing on the integration of AI technology into its core business, applying AI across various testing and analysis stages and assisting in the research and development of semiconductor devices, processes, and materials [2] - The company aims to accelerate the R&D processes of semiconductor industry enterprises and support breakthroughs in core technologies within the industry [2]

迪哲医药于2021年12月通过第五套标准在科创板上市，获得了关键的发展加速器，极大推动了公司在科 技自立自强道路上的前进步伐。 "作为一家专注创新药物研发与产业化的企业，迪哲医药深知科技创新并非一句口号，它源于对临床未 满足需求的敏锐洞察，更依赖于长期持续的研发投入。"迪哲医药董事长、首席执行官张小林博士表 示，公司始终坚持战略定力，不因短期利润目标而削减研发投入。 "我们注重把研发和商业化打通，让创新真正落地到患者手中。通过两款创新药物成功上市、进入医保 并实现市场放量，我们逐步实现了从研发成果向市场价值的转化。"张小林特别提到，在江苏证监局的 支持下，迪哲医药完成了"科创板八条"以来首家未盈利企业的再融资，为公司下一步发展提供了坚实保 障，"这不仅验证了研发策略的有效性，也让我们意识到，创新型企业通过资本市场的支持，把科技成 果转化为社会价值，为投资者带来长期回报，也进一步夯实了资本市场对创新药企的信心"。 在张小林看来，创新药不仅要服务国内患者，也要具备全球竞争力。通过海外申报和国际临床研究，中 国原创创新药正逐步走向世界，"其中，舒沃哲在中国和美国的获批，充分体现了我们研发成果的国际 竞争力。这既是企 ...

Group 1 - The CME Group announced an increase in margin requirements for metal futures, including gold, silver, platinum, and lithium, effective after the market close on Monday, with gold margins up by 10%, silver by approximately 13.6%, and platinum by about 23% [1] - This decision led to a decline in international metal futures prices, with gold prices falling below $4,500 per ounce and domestic palladium and platinum contracts closing at the limit down price [1] - The increase in margin requirements is seen as a response to significant price increases in silver and platinum futures, which had risen over 40% in the past month, thereby raising the cost of speculative trading in the market [1] Group 2 - Since 2018, the world has been undergoing a de-dollarization process, with structural reorganization of the currency system accelerating, as debt holders seek to exchange their dollar-denominated debts for other forms of wealth storage [2] - The surge in prices of precious metals and copper reflects not only a competition for upstream raw materials but also a growing fear regarding the diminishing anchor of the dollar itself [2] - The future global monetary system is expected to diversify, giving rise to a new monetary order, although achieving this vision will not be immediate, and investors should maintain a long-term perspective rather than resorting to aggressive leveraged strategies [2]

2025年，欧洲、美国、日本、韩国等多个地区和国家的主要股票指数创出历史新高。 2025年，欧洲、美国、日本、韩国等多个地区和国家的主要股票指数创出历史新高。其中，欧洲股市领 涨全球，德国、意大利等国家股票指数涨幅居前。在欧洲央行进入降息周期后，欧元区凭借更明确的政 策路径和相对低估值，成为全球资金的"避风港"和"价值洼地"，走出牛市行情。 ...

美国总统特朗普4月2日在白宫签署两项关于所谓"对等关税"的行政令，宣布美国对贸易伙伴设立10% 的"最低基准关税"，并对某些贸易伙伴征收更高关税。"对等关税"政策引发全球贸易和资本市场动荡。 美国总统特朗普4月2日在白宫签署两项关于所谓"对等关税"的行政令。 ...