截至2026年2月4日，港股IPO排队企业总共390家，其中有13家企业已通过聆讯。另外，东鹏饮料、国恩科技等股票已于2月上市。 1月有13只新股上市 2026年1月，港交所共有13只新股上市，合计募资总额达392.55亿港元，较2025年12月上市募资规模增超四成。 1月上市新股中，壁仞科技募资总额达64.2亿港元，规模最大。MINIMAX-WP紧随其后，募集约55.4亿港元。此外，豪威集团、兆易创新、智谱募资超过40 亿港元。 新华财经北京2月6日电新华财经和面包财经研究员根据香港交易所披露信息，对港股IPO排队及新上市企业进行了梳理统计。其中，港股IPO排队企业选取 依据为审核状态为已刊登申请版本、已刊登聆讯后资料集。 1月，港交所共有13只新股上市，合计募资总额达392.55亿港元，规模环比增超四成。其中，壁仞科技、MINIMAX-WP首发募集总额居前，分别达64.2亿港 元、55.4亿港元。 根据公开信息，截至2026年2月4日（下同），港交所的IPO排队企业总共390家。其中，主板IPO排队企业数量达384家，创业板（GEM，下同）排队企业6 家。 按审核进度汇总，已刊登申请版本的企业有377家， ...

Group 1 - The European Central Bank (ECB) has decided to keep its three key interest rates unchanged at 2.00%, 2.15%, and 2.40%, aligning with market expectations [1] - The ECB's policy statement emphasizes the resilience of the Eurozone economy amid global challenges, supported by low unemployment, robust private sector balance sheets, and gradual public spending [1] - The ECB aims to ensure inflation stabilizes at the medium-term target of 2% and will adopt a "data-dependent, meeting-by-meeting" approach to determine appropriate monetary policy [1] Group 2 - The ECB's recent decision reflects a continued wait-and-see stance, with market attention focused on President Lagarde's press conference regarding the potential impact of the euro's appreciation on inflation [2] - Analysts suggest that the appreciation of the euro could hinder the ECB's efforts to stabilize inflation at the 2% target, although the effectiveness of rate cuts to weaken the euro is questioned [2] - A Reuters survey indicates that economists' forecasts for Eurozone economic growth, inflation, and interest rates remain stable, with approximately 85% of economists expecting rates to remain unchanged until 2026 [2]

Core Insights - The commercialization of controlled nuclear fusion in China is reaching significant milestones, with multiple landmark financing events occurring in Shanghai, indicating strong confidence from the capital market in the sector's future [2][3] - The Chinese government has elevated nuclear fusion to a national strategic priority, as outlined in the 14th Five-Year Plan, which aims to promote future industries like quantum technology, biomanufacturing, hydrogen energy, and nuclear fusion as new economic growth points [2][6] Financing and Investment - Star Ring Fusion has completed a 1 billion yuan Series A financing led by Shanghai state-owned enterprises, while Dongsheng Fusion has received several hundred million yuan in funding from top-tier institutions like Sequoia China and Hillhouse [2] - Supermagnetic New Energy has also secured several hundred million yuan in angel round financing, focusing on key systems in the nuclear fusion industry chain [2][3] Technological Development - Star Ring Fusion is focusing on the engineering implementation of spherical tokamak devices, aiming to achieve a significant milestone of Q>1 by around 2029 and to establish a demonstration reactor capable of generating electricity by 2033 [3][5] - The company has initiated the "Star Ring No. 1" project in Jiading, which will include a research and experimental base for the verification of key technologies [3][4] Industry Ecosystem - Shanghai is emerging as a preferred location for fusion enterprise financing, driven by a complete industrial chain, abundant research supply, and strong international collaboration [6][7] - The city boasts nearly 200 upstream and downstream enterprises in the nuclear power industry, providing essential engineering support for fusion device development [6][7] Collaborative Efforts - The collaboration between government and enterprises is exemplified by the deep integration of Star Ring Fusion with Shanghai's state-owned enterprises, which has facilitated its growth and technological advancements [4][8] - The Shanghai Science and Technology Group has played a pivotal role in supporting the development of fusion technology, aiming to accelerate the transition from scientific research to commercial application [8][9] Regional Development - Shanghai's nuclear fusion industry is characterized by a "multi-point blooming" strategy, with different districts focusing on various aspects of development, such as engineering verification in Jiading and original innovation in Yangpu [9][10] - The city's strategic planning aims for a future industry output value of approximately 500 billion yuan by 2030, with a focus on advanced technologies including controlled nuclear fusion [9][10]

Core Viewpoint - The European Central Bank (ECB) decided to maintain its three key interest rates unchanged, confirming that inflation is expected to stabilize at the 2% target level in the medium term [1][4]. Economic Context - The Eurozone economy shows resilience amid a complex global environment, supported by low unemployment, robust private sector balance sheets, and increasing public spending in defense and infrastructure [1][2]. - The ECB emphasizes that the monetary policy stance will be data-dependent and assessed at each meeting, with no commitment to a specific interest rate adjustment path [1][4]. Monetary Policy Decisions - The deposit facility rate, main refinancing operations rate, and marginal lending facility rate remain at 2.00%, 2.15%, and 2.40%, respectively [1]. - The Asset Purchase Program (APP) and Pandemic Emergency Purchase Program (PEPP) holdings are being reduced at a measurable and predictable pace, with no reinvestment of principal repayments from maturing securities [1][3]. Market Implications - The decision to keep rates steady stabilizes current financing costs in the Eurozone, positively impacting the real economy and financial markets [2][3]. - The unchanged rates reduce upward pressure on Eurozone government bond yields, benefiting bond market sentiment and suppressing volatility [3]. - The ECB's commitment to adjust all monetary policy tools within its legal framework aims to ensure smooth monetary policy transmission and protect against market volatility that could threaten the Eurozone's monetary policy [2][3]. Overall Assessment - The ECB's decision reflects a balance between controlling inflation and stabilizing growth, indicating confidence in returning inflation to the 2% target while remaining cautious about economic uncertainties [4]. - Future interest rate adjustments will be guided by key economic indicators such as inflation, employment, and economic growth, which will influence asset prices in the Eurozone [4].

Core Viewpoint - The Bank of England's Monetary Policy Committee (MPC) decided to maintain the benchmark interest rate at 3.75%, marking the sixth consecutive time the rate has remained unchanged, with a previous rate cut occurring in August 2024 [1] Inflation Trends - The UK's CPI inflation rate is projected to be 3.4% by December 2025, still above the 2% target but down 0.4 percentage points from the peak in September [2] - Inflation is expected to accelerate its decline starting in April 2025, potentially reaching 2.1% by the second quarter of 2026, driven by energy subsidies and falling wholesale gas prices [2] - Key measures contributing to the decline in inflation include energy bill reductions and extended fuel tax cuts [2] Economic Growth - The UK economy is experiencing persistent weakness, with potential GDP growth of only 0.1% in the fourth quarter of 2025, significantly impacted by tightened monetary policy and uncertainty [3] - A slight recovery in growth is anticipated in the first quarter of 2026, with an expected increase to 0.2%, although household consumption and business investment remain weak [3] - The savings rate continues to be higher than pre-pandemic levels [3] Labor Market - The unemployment rate is stable at 5.1%, with a further loosening of the labor market indicated by a decrease in job vacancy rates [4] - Private sector wage growth has slowed to 3.6%, while public sector wage growth remains high at 7.9% [4] - The unemployment rate is projected to rise to 5.3% by mid-2026 [4] Policy Direction and Risk Balance - The MPC emphasizes that the core goal of monetary policy is to ensure inflation not only returns to 2% but remains stable at that level in the medium term [5] - While the risk of sticky inflation has significantly decreased, weak demand and a loose labor market may still pose risks of inflation falling below the target [5] - Future interest rate cuts are possible but will be approached with caution, depending on inflation outlook; rapid or excessive cuts could lead to sticky inflation, while insufficient cuts may exacerbate economic downturn risks [5] - Factors such as AI technology application, global trade policy changes, and energy price fluctuations will be key variables affecting future inflation and economic growth, with the Bank of England monitoring these risks closely [5]

Core Viewpoint - The number of initial jobless claims in the U.S. for the week ending January 31 reached 231,000, exceeding both expectations and the previous value [1] Group 1 - The initial jobless claims figure of 231,000 indicates a rise compared to prior data, suggesting potential shifts in the labor market dynamics [1] - This increase in claims may reflect underlying economic conditions that could impact consumer spending and overall economic growth [1]

英国央行副行长拉姆斯登称，近期看到更多黄金从英国央行金库流出。 （文章来源：新华财经） ...

Group 1 - The main contract for silver in Shanghai experienced a decline of over 13% within the day [1]

孔燕，上海票据交易所党委委员、副总裁 票据交易是贯通实体经济与货币市场的"传导枢纽"。票交所成立后，通过统一规则、线上化交易、标准 化流程，促进交易机制创新和市场生态重塑，提升市场透明度与效率，推动票据市场进入新发展阶段， 票据交易也呈现出以下新的特点。一是交易功能拓展，转贴现与回购交易已成为银行重要的流动性管理 与资产负债管理工具，优化金融机构资产配置。二是促进业务联动与循环，转贴现交易促进了信贷资源 在机构间优化配置，推动承兑与贴现业务增长。三是促进货币市场与实体经济的联通，通过引入低成本 同业资金，带动贴现利率下行，降低企业融资成本。四是助力货币政策精准滴灌，票据交易与再贴现联 动引导资金流向小微、绿色、创新等重点领域。 三、实证分析：验证"量价联动"效应 文章基于上海票交所2019年1月至2025年11月的月度数据，对票据转贴现规模与承兑、贴现规模，以及 转贴现利率与贴现利率的关系分别进行VAR模型与脉冲响应实证，得到以下研究结论：一是规模联动， 转贴现规模与承兑、贴现规模整体呈现显著正相关关系，转贴现规模的增长在短期内显著推动承兑与贴 现规模增长，证实转贴现业务发展能起到畅通票据全生命周期循环的作用 ...

Core Viewpoint - The Bank of England has decided to maintain the benchmark interest rate at 3.75%, aligning with market expectations, as the UK economy shows signs of stabilization and inflation remains sticky [1][1]. Group 1: Interest Rate Decision - The Bank of England's Monetary Policy Committee voted with 5 members in favor of keeping the rate unchanged, while 4 members supported a 25 basis point cut to 3.5% [1]. - The decision follows four rate cuts in the previous year, totaling a reduction of 100 basis points [1]. Group 2: Economic Indicators - The UK economy is showing signs of stabilization, reducing the urgency for further rate cuts [1]. - The Consumer Price Index (CPI) in December reversed its downward trend, increasing from 3.2% in November to 3.4% [1]. - The Services Price Index also saw a slight increase from 4.4% in November to 4.5% in December [1]. Group 3: Future Outlook - Market institutions anticipate that if the UK labor market continues to slow, the Bank of England may implement a rate cut in April [1].