Market Performance - A-shares experienced a strong upward trend on February 9, with the Shanghai Composite Index rising over 1% to surpass 4100 points, and the ChiNext Index increasing nearly 3% [1] - The total trading volume in the Shanghai and Shenzhen markets reached 2.25 trillion yuan, an increase of 103.8 billion yuan compared to the previous trading day [1] - Key sectors that saw significant gains included AI applications, computing power hardware, chemicals, and photovoltaic industries, with several stocks hitting the daily limit [1][2] Sector Highlights - The film and television, photovoltaic equipment, cultural media, and AI hardware sectors showed the highest gains, while oil and gas extraction, gas, and other related sectors faced declines [2] - The photovoltaic sector continued its upward momentum, with companies like JinkoSolar and TCL Zhonghuan reaching their daily limits [1][2] Institutional Insights - Investment firms suggest that the overall market trend remains upward, with opportunities in high-growth sectors such as semiconductors, consumer electronics, artificial intelligence, and commercial aerospace [3] - Analysts believe that the recent adjustments have released certain risks, and upcoming events and the "Spring Festival effect" may create a favorable environment for market recovery [3][4] - Recommendations include maintaining positions through the holiday and focusing on sectors with high growth potential, particularly AI computing and chemical industries [4] Economic Transition - Data from the National Taxation Administration indicates that during the "14th Five-Year Plan" period, China's economic and social green transition is accelerating, with significant growth in green technology sectors [5] - Key green product manufacturing industries, such as new energy vehicles and photovoltaic equipment, are expected to see annual sales growth rates exceeding 30% [5] Box Office Performance - As of February 9, 2026, the pre-sale box office for the Spring Festival films has surpassed 10 million yuan, with titles like "Flying Life 3" and "Silent Awakening" leading the pre-sale rankings [6]

转自：新华财经 机构观点 国泰海通：坚决看好中国市场前景，建议持股过节。首先，全球市场正快速计入美联储潜在的鹰派货币 立场，但从路径角度，沃什的降息立场更为鸽派和确定。与此同时，美国财政部部长贝森特澄清强美元 政策并非指干预汇率，海外金融紧缩预期边际改善。其次，中国政府的政策重心正转向内需主导，并作 为首要任务，有望提振中国经济前景与资产回报。此外，证监会近期再次强调"全力巩固资本市场稳中 向好势头"，A股上市公司亦掀起回购热潮。我们认为，中国股市将逐步企稳与展开春季行情，眼下是 增持良机。 广发证券：展望后续1—2个月，A股很可能迎来一段"天时地利人和"的上涨机会。从历史看，2月份及 春节前后是"春季躁动"日历效应最强阶段。市场高胜率、小盘风格占优。自上而下来看，在1月底披露 完毕的2025年年报预告中，低预期、亏损或负增公司数量占比均较2024年再创新高。随着这些负面财报 信息的靴子落地和逐步消化，2月开始，市场"轻装上阵"，负面基本面冲击告一段落。 消息面上 国投白银LOF涨幅一度扩大至超8% 此前曾连续六次复牌跌停 新华财经北京2月9日电 （王媛媛）市场早盘高开高走，沪指涨超1%，创业板指涨超3%。截 ...

转自：第一财经 过去一周，贵金属市场经历剧烈震荡。 据Wind不完全统计，当周伦敦黄金现货价格日内最大价差持续在300美元／盎司左右，资金操作策略明 显转向快进快出；白银在近7个交易日内经历了11次幅度超过5%的剧烈波动，单月波动率突破100%。 此前持续火爆的黄金类ETF遭遇大规模赎回，国内7只挂钩SGE黄金9999指数的ETF当周规模缩水合计超 过220亿元。多家机构研究报告发出警示，认为黄金等贵金属未来几周将进入盘整阶段。 "如果买黄金，就要承受近期比较大的波动。"贝莱德建信理财副总经理、首席投资官刘睿近日在贝莱德 中国2026年投资展望分享会上提到，了解自己很重要，要明确自身目标和风险承受能力。 刘睿具体分析称，黄金具备长期配置价值，但短期需警惕交易拥挤带来的高波动。2025年黄金上涨 65%，2026年1月又在不到一个月内再涨超30%，涨幅远超历史均值。快速上行吸引了大量散户、ETF资 金及实物买盘涌入，导致市场情绪高度亢奋，一旦出现回调，极易引发踩踏式抛售。 波动加剧监管收紧，资金逻辑生变 本轮贵金属价格巨震背后，资金逻辑已发生变化。 此前持续涌入黄金ETF的避险资金正快速撤离，导致ETF规模快速 ...

Group 1 - The core viewpoint of the article highlights a peak in government bond issuance with a net financing amount of nearly 800 billion yuan, supported by the central bank's liquidity measures, leading to a downward trend in bond yields, particularly in the long end of the curve [1][6] - The bond market is expected to remain stable due to the central bank's continued support, with a focus on the maturity of 6-month reverse repos, while the 10-year government bond yield approaches the critical level of 1.8%, which may exert pressure on the bond market [1][16] - The yield curve for government bonds shows a general decline in yields across various maturities, with notable decreases in the long-term bonds [2][3] Group 2 - In the primary market, a total of 122 bonds were issued last week, amounting to 1,206.73 billion yuan, with government bonds accounting for 39.7 billion yuan and local government bonds for 579.67 billion yuan [6] - The upcoming week is projected to see the issuance of 55 bonds totaling 489.14 billion yuan, indicating ongoing robust supply in the bond market [6] - The central bank's operations included multiple reverse repos, with a significant 8 billion yuan buyout reverse repo operation, indicating a proactive approach to manage liquidity [12][13] Group 3 - The U.S. Treasury yields experienced fluctuations, with a notable decline following weak labor market data, reflecting broader market sentiments and potential impacts on investment strategies [7][10] - The U.S. labor market shows signs of cooling, with an increase in initial jobless claims and a significant drop in job vacancies, which may influence future economic outlooks and bond market dynamics [9][10] - The U.S. Treasury's decision to maintain its current bond issuance strategy suggests a stable approach to debt management amidst changing market conditions [11] Group 4 - Analysts from Huatai Securities and CITIC Securities express cautious optimism regarding the bond market, anticipating stable performance leading up to the Spring Festival, while also noting potential pressures from profit-taking and equity market stabilization [16][17] - Financial strategies are shifting towards duration strategies, with recommendations for specific bond types to optimize returns in the current market environment [17]

转自：新华网 图为2026澳网现场 马年新春的钟声渐次临近，2026澳网的热浪已席卷南半球，中国年味与顶尖赛事撞个满怀。十余个日夜的酣战角逐，镌刻下属于世界网球的全新记忆。 墨尔本的骄阳灼灼，见证荣耀加冕的璀璨瞬间。国窖1573，以时间封藏的浓香，致敬每一颗为胜利而灼热的心，让传世之酿，浸润每一个绽放的时刻。 2026澳网赛场，传奇从未落幕。当两代大师隔网相望，底线对拉是技艺的传承，网前截击是时代的对话。国窖1573见证的不只是胜负，更是网球的永恒魅 力。 图为罗杰·费德勒和约翰·麦肯罗 女单决赛的巅峰对决，发球势如破竹，回击精准凌厉，演绎网球最纯粹的热血与热爱，球员们以实力诠释不服输的信仰。 中国金花不负众望，张帅携手搭档逆风翻盘，时隔七年再登澳网之巅。37岁的老将坚守热爱，在墨尔本的赛场续写中国网球的荣耀华章。每一次挥拍都在 书写网球传奇，每一次登场都是一份热血传承，当球员拿下关键分的刹那，"胜利！Congratulations干杯！"刷屏球场。 场边醒目的国窖1573标识，与赛场的热血气息相融共生，定格那一份拼搏与荣光。 赛场之内，竞技燃动全场。赛场之外，雅韵浸润人心。中国年味遇上快乐大满贯，东方底蕴碰 ...

Core Viewpoint - The A-share market is expected to experience a cautious sentiment ahead of the Spring Festival, with the prevailing advice from institutions being to "hold stocks during the holiday" due to historical trends indicating a higher probability of market gains post-holiday [1][3]. Market Trends - Historical data shows that the probability of market gains after the Spring Festival is significantly higher than before, with a 70% chance of an increase in the first five trading days post-holiday, and the expected gain for 2024 is projected at 4.85% [1][2]. - The market typically exhibits a pattern of "reduced volume before the holiday and increased volume afterward" [1]. Institutional Recommendations - Multiple securities firms, including Guangda Securities and Huajin Securities, suggest maintaining stock positions through the holiday, anticipating a rebound in market activity post-festival [3][4]. - Citic Securities indicates that the spring market rally is likely to continue after the holiday, despite recent adjustments, and recommends holding stocks during the holiday [5][6]. Economic and Liquidity Outlook - Economic and profit expectations are anticipated to improve during the Spring Festival, with favorable consumer data expected [4]. - Liquidity is expected to remain loose, with potential increases in net injections by the central bank and a stable level of market funds before the holiday [4]. Sector Performance - Technology growth and certain cyclical sectors are expected to outperform, supported by policy initiatives and ongoing industry trends [5][7]. - There is a potential for a rebound in sectors such as pharmaceuticals, computing, chemicals, and non-bank financials, which have historically low valuation percentiles [5][6]. Market Sentiment and Style Rotation - The market sentiment is expected to stabilize post-adjustment, with a notable rotation in style from large-cap to small-cap stocks after the holiday [6][7]. - The "Spring Festival effect" and increasing event catalysts are likely to create a favorable environment for market recovery [7].

转自：新华财经 •两部门印发意见 健全重大水利工程建设运行管理机制 •我国成功发射可重复使用试验航天器 将按计划开展可重复使用试验航天器技术验证 •全球ETF资产总规模达19.7万亿美元 近20年年均复合增长率超20% •水利部、国家发展改革委近日印发《关于健全重大水利工程建设运行管理机制的实施意见》，要求健全重大水利工程高质量建设、高水平运行和高效能管 理机制，强化政府引导与市场参与，推动国家水网"系统完备、绿色智能、调控有序"，保障防洪、供水、粮食和生态安全。（新华社） •中国在酒泉卫星发射中心2月7日使用长征二号F运载火箭，成功发射一型可重复使用试验航天器。试验航天器将按计划开展可重复使用试验航天器技术验 证，为和平利用太空提供技术支撑。（新华社） •国家外汇管理局2月7日公布的数据显示，截至1月末，我国外汇储备规模为33991亿美元，较2025年12月末上升412亿美元，升幅为1.23%。中国人民银行官 网同日发布的数据显示，截至1月末，我国黄金储备为7419万盎司，环比增加4万盎司。（新华财经） •中国黄金集团黄金珠宝股份有限公司自2月7日起，在周六、周日及法定节假日等上海黄金交易所非交易日暂停办理 ...

•美国消费者信心指数微涨 长期通胀预期微升 •日本执政党拿下多数席位 市场将迎更多财政刺激 •印度央行维持基准利率在5.25%不变 转自：新华财经 【资讯导读】 •中国外汇储备连续6个月增长 黄金储备"15连增" •美公布与印度临时贸易协议框架 •多重危机叠加 德国经济自2020年以来损失近万亿欧元 【市场资讯】 •我国外汇储备余额连续第6个月增加，黄金储备连增15个月。数据显示，截至2026年1月末，我国外汇 储备规模为33991亿美元，较2025年12月末上升412亿美元，升幅为1.23%；黄金储备规模为7419万盎 司，环比增加4万盎司。 •美国公布与印度日前达成的临时贸易协议框架，印度取消或降低对美国工业产品以及多种食品和农产 品的关税，美国将把对印度商品加征的所谓"对等关税"税率从25%降至18%。美国总统特朗普还签署行 政令，决定从2月7日起取消基于印度直接或间接进口俄罗斯石油而对印度输美商品征收额外的25%关 税。 •美联储副主席杰斐逊表示，他对美国经济前景"谨慎乐观"，暗示强劲的生产率增长有望帮助通胀回落 至央行2%的目标水平。杰斐逊认为，当前的政策立场能够很好地应对经济发展。 •美国政府官员 ...

Group 1 - The first Innovation Forum and the unveiling of the Joint Innovation Laboratory were held in Shanghai, focusing on the theme "Intelligent Computing New Ecology, Co-creating New Future for Industries" to promote high-quality development of the digital economy [1][2] - Shanghai Data Port Co., Ltd. has established 35 high-standard data centers nationwide, creating a national computing power network and achieving industry-leading levels in green energy efficiency with a PUE (Power Usage Effectiveness) ranking among the best [1][2] - The company aims to transform from a "computing power infrastructure service provider" to a "comprehensive computing power service provider," emphasizing "intelligent computing" as its core development strategy [1][2] Group 2 - The Joint Innovation Laboratory will focus on core areas such as intelligent computing infrastructure architecture, large-scale cluster scheduling, green low-carbon technology, and full-stack domestic adaptation, aiming to build a leading industry model community and scenario-based computing power ecosystem [3] - A collaborative innovation platform was launched to deepen cooperation in the computing power field and promote the integration of computing resources with regional industries [3]

转自：新华财经 面对持续高位运行的车客流量，琼州海峡运输各方构建协同联动机制，海南海峡航运股份有限公司以"开局即冲刺"的态度全力保障2026年琼州海峡春运运 力部署，通过科学投放运力、温暖提升服务、精准信息送达，共同构建交通保障体系，实现过海总体稳定有序。 海南省和海口市交通、海事、气象等部门与运营主体海峡股份打破数据与职责壁垒，建立了24小时联合指挥机制。在海口新海港调度中心的大屏幕上，航 班动态、港口监控、气象海况、路面车流等数据实时汇聚。气象部门提前预报、海事部门科学研判、交通部门全程疏导，港口和航运公司及时通过APP和 短信发布航班调整信息，引导车辆错峰到港。这种多方联动，有效协同的一体化工作机制，确保了跨海大动脉的快速反应与安全韧性。 车客顺畅过海的核心在于充足的运力供给，据介绍，春运期间，海峡股份在琼州海峡海安航线投入53艘运力、其中包含4 艘新能源车辆专用甲板货船；广 西航线投入3艘运力保障运输，实行24小时全天候滚动发班，确保旅客能安全、快速过海。 在"出行顺畅"的基础上，"走得好、走得舒心"成为旅客更高要求。服务的温度体现在对差异化需求的细致关照。海口新海港开设了针对老人、幼儿、军人 等不同 ...