Market Overview - The Hong Kong stock market opened higher on February 3, with the Hang Seng Index rising by 0.82% to 26,995.76 points [1][2] - The Hang Seng Technology Index increased by 0.68% to 5,563.79 points [1][2] Major Indices Performance - The Hang Seng BioTech Index rose by 0.90% to 14,983.75 points [2] - The Hang Seng China Enterprises Index increased by 0.59% to 9,133.88 points [2] - The Hang Seng Composite Index gained 0.88% to 4,130.06 points [2] Technology Sector - Major tech stocks rebounded, with NetEase rising over 3% to 205.00 [3] - Bilibili increased by over 2% to 265.00 [3] - Other notable gains included Ctrip Group, Alibaba, and Kuaishou, all showing positive movement [2][3] Semiconductor and Chip Stocks - Semiconductor stocks showed recovery, with Zhaoyi Innovation rising over 5% to 321.20 [4] - Huahong Semiconductor and Naxin Micro both increased by over 3% [4] - SMIC rose by over 1% to 73.20 [4] Gold Sector - Gold stocks experienced a broad increase, with Zhaojin Mining rising over 5% to 34.90 [5] - Other significant gains included Chifeng Jilong Gold and Zijin Mining International, both rising over 4% [5] - The overall trend in the gold sector indicates strong performance across multiple companies [5]

2026.02.03 本文字数：2034，阅读时长大约3分钟 作者 |第一财经 樊志菁 在经历了上周五的恐慌抛售后，贵金属市场本周一进入巨震模式。以白银为例，周一经历了超过8%的 双向波动，尾盘收复日内大部分失地，铂金和钯金期货均较早盘低位反弹近10%。 在盘中跳水逾5%后，纽约商品交易所2月交割的COMEX期货震荡回升，收复4700美元，该合约上周五 曾重挫11%，创1980年以来最差单日表现。上周四，黄金连续期货合约盘中触及每盎司5626.80美元的 高点，目前较该高点已下跌17%。 机构分析称，美国总统特朗普提名沃什为下任美联储主席后，美元指数反弹，推升贵金属计价成本，触 发第一轮抛售。与此同时，拥挤交易集中平仓：金银（尤其白银）长期吸引专业与散户资金，形成 "极 端拥挤、单边"持仓；价格抛物线式上涨后，上周五大量投资者同时止损离场，流动性枯竭放大跌幅。 部分分析师仍认为贵金属的牛市行情将持续，并预计年内金价将再创历史新高。瑞银大宗商品分析师乔 瓦尼・斯陶诺沃称："我们预计，黄金价格将在今年晚些时候站上每盎司 6200美元上方，再创历史新 高。"摩根大通周一宣布，预计年末金价将达到每盎司 6300 美元 ...

2026.02.03 本文字数：1864，阅读时长大约2分钟 作者 |第一财经 樊志菁 当地时间周一，亚特兰大联储主席拉斐尔・博斯蒂克在出席活动时表示，沃什若执掌美联储将面临一项 "艰巨任务"，尤其是如果他想要说服政策制定委员会的成员在货币政策决策上与自己保持一致，这项挑 战会更为突出。 如何化解分歧 美联储上周以10票赞成、2票反对的结果，决定将美联储基准利率维持在当前3.50%至3.75%的区间，并 释放出暂不急于降息的信号。 目前美联储内部暗流涌动，坚定支持降息的只有美联储理事沃勒、米兰和鲍曼，三人均为特朗普提名， 而决定利率政策的联邦公开市场委员会（FOMC）中剩余的4位理事（包括现任美联储主席鲍威尔）和5 位地方联储主席均对进一步宽松持谨慎态度，其中不乏堪萨斯联储主席施密德、圣路易斯联储主席穆萨 勒姆这样的鹰派委员。 博斯蒂克表示，自己认为美联储今年完全不应降息，美联储多位同僚也持相同观点。而特朗普此前称， 提名沃什的部分原因，是沃什认同自己应当降低借贷成本的主张。 亚特兰大联储主席当天在出席一场活动中表示："如果想要推行既定的政策，或是让货币政策朝着自己 期望的方向走，就必须说服委员会成员认同并支 ...

编辑：七三 据央视新闻，当地时间2月2日，美国企业家马斯克旗下的太空探索技术公司（SpaceX）发表声明，宣 布已收购同属于马斯克旗下的人工智能企业xAI公司。xAI公司同时也发表声明，证明已"加入 SpaceX"。 ...

Group 1 - Spot gold prices increased by 1% to $4,705.52 per ounce as of 07:10 on February 3 [1] - Spot gold rose to $4,740 per ounce, marking a 1.7% increase as of 07:21 [2] - Spot gold reached $4,760 per ounce, reflecting a 2.2% increase as of 07:26 [3] Group 2 - Spot silver prices surpassed $80 per ounce, with a daily increase of over 1% as of 07:10 [1] - Spot silver rose over 3% to $81.6 per ounce as of 07:21 [2] - Spot silver increased by 4%, reaching $82.39 per ounce as of 07:56 [4]

据智通财经，2月1日有工作人员告诉记者， 公司在"杰我睿"等平台上有对冲操作，受此影响，公司目 前出现较大的现金缺口 。从公司所张贴的告示中可以看到，尽管兑付出现问题，目前云点当仍在正常 营业，呼吁大家不要轻信谣言。 继"杰我睿"之后，水贝又有黄金平台出现兑付异常， 多名用户反馈"云点当"平台无法正常打开 ，里面 的黄金存料、余额无法正常提现。 编辑：七三 ...

Core Viewpoint - The precious metals market experienced significant volatility following a panic sell-off, with silver showing over 8% price swings and other metals like platinum and palladium rebounding nearly 10% from early lows. Analysts are divided on the market outlook, with many believing the current downturn is temporary but suggesting that bottom-fishing may need to wait [1][2]. Market Performance - After a drop of over 5%, COMEX futures for February delivery recovered to $4,700, following an 11% plunge last Friday, marking the worst single-day performance since 1980. Gold futures hit a high of $5,626.80 per ounce but have since fallen 17% from that peak [2]. - UBS analysts predict gold prices will exceed $6,200 per ounce later this year, while JPMorgan forecasts a year-end price of $6,300 per ounce. Deutsche Bank maintains a $6,000 per ounce prediction based on sustained investor demand [2]. Market Dynamics - Short-term market volatility is expected to remain high, with the potential for further sell-offs due to ETF and options position liquidations triggering cascading futures market sell-offs. The risk of additional rounds of selling remains elevated, as crowded and one-sided trading positions have not been substantially reversed [3]. - Citigroup warns that gold valuations have reached extreme levels, with global gold expenditure as a percentage of GDP soaring to 0.7%, the highest in 55 years. A return to historical norms could pose a risk of significant price declines [3]. Influencing Factors - Future trends in the precious metals market will depend on the monetary policy path under the new Federal Reserve chair, the movements of the dollar and real interest rates, ETF fund flows, and central bank gold purchasing patterns [4]. - The recent sell-off resulted in an evaporation of $8 trillion in market value for gold and silver, highlighting the liquidity issues that arise when large amounts of capital attempt to exit the same type of "safe-haven" trades simultaneously [4]. Investment Behavior - The sell-off has revealed pressure on holdings in gold, while silver's performance has exposed liquidity pressures in the market. The focus should shift from "what to buy" to "what type of buyer you are" to avoid blind trading during market turmoil [5][6]. - Buyers sensitive to price, typically long-term holders, should consider transactions from a value and asset allocation perspective, while liquidity-sensitive holders, such as those using futures or options, are driven by volatility and risk management rules [6]. Market Insights - The recent precious metals crash serves as a stress test for the market, demonstrating that even traditionally safe assets can become volatile when everyone relies on them for hedging. The true "safe signal" for the market will be a decrease in volatility rather than a price rebound [6].

Market Performance - The US stock market saw a positive trend with major indices rising, driven by gains in storage chip manufacturers and technology and financial sector stocks [2] - The Dow Jones Industrial Average increased by 515.19 points (1.05%) to close at 49,407.66, while the Nasdaq rose by 0.56% to 23,592.11, and the S&P 500 gained 0.54% to 6,976.44 [2] Technology Sector - Mixed performance among major tech stocks: Apple rose by 4.04%, Amazon by 1.53%, while Meta, Microsoft, and Tesla fell over 1%, and Nvidia dropped nearly 3% [3][4] - Oracle's stock fell by 2.75% as the company plans to raise up to $50 billion by 2026 to expand its cloud infrastructure [3] - Google's stock increased by 1.86%, with its Waymo division nearing a $16 billion funding round [3] Semiconductor Industry - Storage chip manufacturers benefited from increased demand in the AI sector, with SanDisk's stock soaring by 15.4%, Micron Technology up by 5.5%, and Advanced Micro Devices rising by 4% [3] Financial Sector - The financial sector showed strength, with Wells Fargo, Goldman Sachs, and Bank of America all rising over 1%, while Citigroup and JPMorgan Chase increased by more than 0.5% [4] Economic Indicators - The ISM manufacturing index for January rose to 52.6, marking the highest level since August 2022, indicating expansion in factory activity [7] - The US Treasury yields increased, with the 2-year yield rising by 4.7 basis points to 3.567% and the 10-year yield up by 3.6 basis points to 4.276% [6] Energy Sector - The S&P 500 energy sector index fell over 1% due to declining oil prices, with WTI crude oil dropping by 4.71% to $62.14 per barrel and Brent crude down by 4.36% to $66.30 per barrel [8] - Airline stocks performed well as lower energy prices boosted their performance, with major airlines seeing stock increases between 4% and 7% [8]

Market Overview - US stock market opened lower but closed higher, with the S&P 500 index approaching 7000 points, driven by gains in storage chip manufacturers and major tech and financial stocks [1] - The Dow Jones Industrial Average rose by 515.19 points, or 1.05%, closing at 49407.66 points; the Nasdaq increased by 0.56% to 23592.11 points; and the S&P 500 gained 0.54% to 6976.44 points [1] - The Chicago Board Options Exchange Volatility Index (VIX) fell over 6% after reaching a near two-week high, closing at 16.32 points [1] Stock Performance - Notable tech stocks showed mixed results: Apple rose by 4.04%, Amazon by 1.53%, while Meta, Microsoft, and Tesla fell over 1% [2][3] - Oracle's stock dropped by 2.75% after announcing plans to raise up to $50 billion by 2026 to expand its cloud infrastructure [2] - Google's stock increased by 1.86%, with its Waymo division nearing a $16 billion funding round [2] - Storage chip manufacturers benefited from AI demand, with SanDisk surging 15.4%, Micron Technology up 5.5%, and AMD rising 4% [2] Financial Sector - The financial sector showed strength, with Wells Fargo, Goldman Sachs, and Bank of America rising over 1%, while Citigroup and JPMorgan gained over 0.5% [2] Economic Indicators - The ISM manufacturing index for January rose to 52.6, the highest level since August 2022, indicating expansion in factory activity [6] - The US Congress is working on legislation to end the partial government shutdown, with a vote expected on Tuesday [6] Commodity Market - International oil prices fell significantly, with WTI crude down 4.71% to $62.14 per barrel and Brent crude down 4.36% to $66.30 per barrel [7] - Precious metals experienced increased volatility, with COMEX gold futures dropping 1.94% to $4622.50 per ounce and silver futures down 1.93% to $78.77 per ounce [7]

2026.02.02 本文字数：1577，阅读时长大约3分钟 作者 |第一财经 黄思瑜 继日盘跌停后，2月2日夜盘沪银期货主力合约开盘后不久便下跌20%，触及跌停。日盘跌停的沪锡、原 油、燃油、沪镍等期货主力合约也大幅下跌。 上期所当日发布通知称："近期国际形势复杂多变，市场波动较大。请各有关单位关注市场动态，加强 风险管理，提示投资者进一步提高风险防范意识，理性参与，合规交易，共同维护市场平稳运行。" 国信期货首席分析师顾冯达对第一财经记者称，当前市场正经历一场由美国金融市场崩盘引发的"连锁 反应"冲击。在美联储下任主席提名"鹰派"人物凯文·沃什的消息刺激下，此前创出新高的贵金属金银出 现历史级暴跌，因美联储主席人选意外变化和"鹰派"表态，动摇了市场对"无约束宽松"的预期，导致海 外科技股及金银等高杠杆投机盘集中踩踏。 金瑞期货研究员吴梓杰也称，贵金属高位下市场风险逐步上升。在此背景下，上海期货交易所持续强化 市场监测与风险防范，多次发布公告提示市场风险，并推出一系列有针对性的风控措施，此举有助于引 导市场参与者以理性态度进行投资，进而保障市场的平稳有序运行。建议市场参与者保持理性，谨慎操 作，严格控制持仓 ...