杰富瑞：第二季度全球铜产量小幅上升 未来将逐步放缓 金十数据8月4日讯，据杰富瑞根据全球产量占比达62%的矿企提交的文件分析，第二季度铜产量出现小 幅上升。这些公司报告的二季度产量环比增长4.7%，而第一季度通常是季节性淡季。同比来看，铜产 量增长了2.5%，嘉能可（Glencore）和自由港（Freeport）产量下降，但被智利国家铜业公司 （Codelco）、五矿资源（MMG）和力拓（Rio Tinto）等公司的增产所抵消。杰富瑞还表示，预计随着 现有矿山资源日趋枯竭，全球铜矿产量增长将逐步放缓。 ...

Core Viewpoint - Gold prices may experience a slight decline due to technical corrections, but remain supported by expectations of interest rate cuts from the Federal Reserve [1] Group 1 - Gold prices saw a minor decrease in early Asian trading, likely due to a technical pullback after a nearly 1.7% increase in futures prices last Friday [1] - The downward potential for gold prices is expected to be limited as market expectations for Federal Reserve interest rate cuts continue to rise, enhancing gold's appeal [1] - Analyst Fawad Razaqzada noted that the employment data released last Friday serves as a significant warning, indicating a clear signal of weakness in the job market, which aligns with the Fed's dual mandate regarding employment [1]

金十数据8月4日讯，文章称，近日召开的中央政治局会议在部署下半年经济工作时提出，要落实好中央 城市工作会议精神，高质量开展城市更新。要完成好这一任务，推动城市低效土地再开发十分紧迫、非 常必要。下一步，要继续优化城市工商业土地利用，允许按新规划用途自行改造或联合改造，在符合国 土空间规划的前提下，支持工商业原土地使用权人按照规划用途实施低效用地再开发。支持低效商业服 务用地转型。鼓励低效工业用地盘活，鼓励探索低效工业用地市场化回购和退出路径。有序推动集体低 效用地整治入市。同时，推动土地混合开发利用和用途合理转换。在符合国土空间规划前提下，推动工 业、物流仓储和研发用地转换，以及商业服务用地内部细分地类转换。 经济日报金观平：推动城市低效土地再开发 ...

华泰证券策略团队最新研报指出，上周进入海内外关键事件频发的"超级周"，后半周在美元指数、政策 预期扰动下，市场缩量调整，但考虑到目前赚钱效应已回调至7月中旬位置、市场抛压相对可控，短期 A股或进入波动率放大的平台期，局部热点活跃或为基准情形。结合题材容量、补涨空间、业绩持续性 分析，目前具备补涨逻辑且景气改善持续性的板块主要集中于AI、产能出清及自主可控方向。配置 上，把握赔率思维，关注白色家电等跌出股息率性价比的稳健及潜力高股息品种及Q2业绩回升且具备 补涨逻辑的方向，如存储芯片、光纤光缆、氯碱、航空装备、 智能驾驶、机器人等。战略上超配大金 融、创新药、军工。 ...

媒体调查结果显示，在接受调查的45位经济学家中，约42%预计日本央行将在10月加息，这一比例较上 次调查的32%有所上升。预计日本央行会在明年1月加息的比例略降至三分之一，而预计会在今年12月 加息的比例则翻了一番达到 11%。没有人认为日本央行会在9月的下次会议上采取行动，但约四分之一 的人认为，在风险情景下，加息最早可能在下个月到来；约60%的人认为，下次加息最早可能在10月。 ...

Core Insights - The credit bond market is experiencing polarization, with the value gap shifting towards the "middle ground" of 30%-70% yield range, which is now seen as a new source of value [1] - The strategy focuses on investing in AA/AA(2) rated municipal bonds in strong provinces like Jiangsu and Zhejiang, particularly in county-level platforms [1] - There is a significant amount of municipal bond inventory in the middle ground, making it a key area for investment [1] Investment Strategy - The investment approach involves selectively moving down to county-level platforms in high-quality provinces, targeting AA/AA(2) rated bonds with maturities of 0-4 years [1] - The focus is on regions such as Suzhong, Subei, and cities like Nanjing and Ningbo, where there are numerous suitable bonds available for bulk investment [1] - For supplementary investments, industry bonds should be chosen carefully, with a focus on higher-rated (AA and AA+) and shorter-duration (0-3 years) bonds concentrated in traditional sectors like infrastructure, real estate, and finance [2]

Core Viewpoint - The company is in discussions with a research team regarding a carbon capture technology that has been applied in industrial-grade mosquito traps, currently being piloted in several high mosquito prevalence areas in China [1] Group 1: Company Developments - The company believes that this technology could enhance user experience in tourist attractions and other outdoor venues [1] - The collaboration is still in the preliminary stage, with no specific terms or final agreements reached yet [1] - The company will make further announcements as required by the Hong Kong Stock Exchange regulations [1]

中信建投（601066）研报称，AI将强势带动全球用电需求增长。预计到2030年，全球数据中心的电力 消耗将增加一倍以上。近期，海外大厂纷纷上调资本开支预期，持续保持AI领域高投入。需求快速增 长，而输配电设备供应总体紧张。中国电力设备制造商迎来发展契机，2022年以来，中国一次设备出口 持续高景气。2025年1-6月电力变压器出口同比增速约40%以上，延续高增趋势。我们预计，海外大厂 AIDC相关资本开支持续高投入，国内头部配套电气设备制造商将看到相关订单的落地，后续增量弹性 将持续释放。 ...

Group 1 - The U.S. non-farm payrolls added only 73,000 jobs in July, significantly below expectations, with prior two months' data revised down by 258,000 [1] - Berkshire Hathaway reported a 59% drop in Q2 net profit, with cash reserves nearing historical highs, and warned that tariffs will impact performance [1] - Berkshire Hathaway made a substantial $3.8 billion write-down on its investment in Kraft Heinz [1] Group 2 - The Federal Reserve is experiencing internal conflicts, with two officials stating that employment remains robust while two dissenters argue that waiting is a mistake [1] - Federal Reserve Governor Kugler announced his resignation effective August 8 [1] - OPEC+ has agreed in principle to significantly increase production in September [1]

据香港电台报道，陈茂波称，如果经济势头持续下去，那么香港政府本财年的经营账目可能出现盈余， 而不是之前预期的赤字。陈茂波表示，政府最初估计，在截至2026年3月的财政年度，政府经营账目会 出现"数十亿元"的赤字，但如果经济增长持续到下半年，则有可能出现盈余。 ...