本周A 股市场整体承压运行，多数主要指数出现回调，中小盘和成长风格调整幅度较为明显 ， 而大盘蓝筹相对抗跌，市场呈现出 " 指数回调、结构分 化 " 的运行特征。从成交、资金和行业表现来看，市场情绪偏谨慎，资金正在向低波动和防御性方向集中 。 01 涨跌速览 从指数表现看， 本 周 A 股主要指数呈现 " 多数下跌、少数上涨 " 的格局。 中小盘指数和成长风格指数承压明显，而权重较大的蓝筹板块表现相对稳 健，在一定程度上对冲了指数下行压力。这一表现反映出，在市场风险偏好下降的背景下，资金对确定性和防御属性的偏好有所提升 。 行业层面， 本 周 A 股延续明显的结构性行情。 能源板块表现突出，成为领涨主线之一，黄金、能源相关个股在个股涨幅榜中占据较高比例。同时， 部分必选消费行业表现相对稳健，体现出防御性资金的配置特征。与之相对，前期涨幅较大的成长赛道和制造相关板块出现集中回调，成为拖累市场的 重要力量 。 从周度子行业表现看，涨幅居前的板块集中在能源链及防御属性较强的领域 ，而跌幅靠前的子行业则主要分布在成长和制造相关方向，行业轮动特征清 晰。 在个股层面，上周涨幅居前的个股以黄金、能源类股票为主 ；而跌幅居 ...

1 月 30 日， A 股三大指数今日涨跌不一， 截至收盘沪指跌 0.96% ，深成指（ 399001 ）跌 0.66% ，创业板指（ 399006 ）涨 1.27% ，北证 50 指数跌 0.29% 。 沪深京三市成交额 28624 亿元，较上日缩量 3970 亿元，三市超 2400 只个股飘红。 黄金、基本金属概念股现跌停潮，白酒、地产、券商、油气板块跌幅靠前 ，商业航天、金融科技、光伏、 AI 应用题材调整。 CPO 、宇树机器人概念 股活跃，农业股走强。 1 月 30 日， A 股市场呈现明显的板块分化特征。 主力资金从前期热门的 有色金属 等周期板块大规模撤离，转向通信、电子等科技成长板块。 | 代码 | 证券简称 | 涨跌幅(%) | 主力净流入额(亿元) | | --- | --- | --- | --- | | 002155.SZ | 湖南黄金 | 9.99 | 68.93 | | 300394.SZ | 天孚通信 | 10.91 | 32.75 | | 300502.SZ | 新易盛 | 6.74 | 32.67 | | 300308.SZ | 中际旭创 | 5 73 | 30.81 | | ...

1月29日，A股三大指数今日涨跌不一。截至今日收盘， 上证综指报4157.98点，涨幅0.16%，成交额14857.95亿元；深证成指报14300.08点，跌 幅0.30%，成交额17442.13亿元；创业板指报3304.51点，跌幅0.57%，成交额7895.02亿元。 1月29日，A股市场呈现结构性分化特征， 主力资金从 电子、电力设备等 板块向 传媒、食品饮料 、 有色金属 等 领域转移。 | 主力资金板块流向 | | | | | | --- | --- | --- | --- | --- | | | | ·主力资金流入TOP5 | | | | 代码 | 证券简称 | 涨跌幅(%) | 主力净流入额(亿元) | | | 801760.SI | 传媒(申万) | 3.53 | 220.78 | | | 801120.SI | 食品饮料(申万) | 6.57 | 168.06 | | | 801750.SI | 计算机(申万) | 0.01 | 138.80 | | | 801050.SI | 有色金属(申万) | 1.66 | 73.36 | | | 801180.SI | 房地产(申万) | 2.65 ...

"内需"是当前观察中国经济的关键词 。 最新数据显示 ， 2025年中国社会消费品零售总额首次突破50万亿元，消费对经济增长的贡献率稳 固在52%。然而， 经济"暖数据"之下，居民消费与企业投资意愿偏冷的"温差"依然明显，多位经济 学家警示复苏的基础并不牢固。 "2025年的整个宏观经济积极一点说是处在经济复苏的早期阶段。"CF40资深研究员、中国社科院 世界经济与政治研究所副所长张斌表示，复苏的基础还不牢固，内生增长的动力还得不到支撑。 这考验宏观调控的智慧。 01 复苏进行时：基础是否牢固？ 国家统计局近日发布数据显示， 2025年中国国内生产总值（GDP）首次跃上140万亿元新台阶，按 不变价格计算，比上年增长5.0%。 2025年社会消费品零售总额突破50万亿元，比上年增长 3.7%。全年服务零售额比上年增长5.5%，最终消费支出对经济增长的贡献率达52%。 金融市场上，股票市场、人民币汇率、社融增速、企业存款等金融指标有明显提升，企业盈利止住了 连续多年的下行趋势，消费、劳动力市场总体运行平稳。 " 2025年的整个宏观经济积极一点说 是 处在 经济复苏的早期阶段。 "张斌同时强调，"复苏的基 础还 ...

分享一篇文章。 投资时间网 "选基难"怎么破局？专业"基金买手"FOF助你一臂之力！ 原创 阅读全文 ...

Market Overview - A-shares showed mixed performance with the Shanghai Composite Index up by 0.27% and the Shenzhen Component Index up by 0.09%, while the ChiNext Index fell by 0.57% [1] - Over 3600 stocks in the three markets closed lower, with significant gains in sectors like non-ferrous metals, oil and gas, and coal, while solar equipment and biopharmaceuticals faced declines [1] Sector Performance - The weakening US dollar and geopolitical risks led to significant gains in precious metals and oil and gas sectors, while semiconductor and real estate sectors also performed well [2] - Resource sectors attracted substantial capital inflows, with non-ferrous metals leading the way, while previously popular sectors like electric equipment and defense faced capital outflows [3][4] Capital Flow Analysis - The top five sectors for capital inflow included non-ferrous metals (net inflow of 343.73 billion), basic chemicals, building materials, coal, and oil and petrochemicals, indicating a strong preference for resource and cyclical industries [4] - Conversely, the sectors experiencing the most capital outflow were electric equipment, defense, pharmaceuticals, food and beverage, and automotive [4] Stock Performance - The top five stocks for capital inflow were dominated by non-ferrous metals and technology, with China Aluminum and Tongling Nonferrous Metals seeing significant gains [5] - Major outflows were observed in consumer and financial stocks, with Kweichow Moutai experiencing a net outflow exceeding 31 billion [5] Market Dynamics - On January 28, 85 stocks hit the daily limit up, with non-ferrous metals accounting for 41% of these, indicating a strong sector concentration driven by resource and policy factors [6][7] - The market showed a high level of event-driven trading, with significant interest in non-ferrous metals due to global supply chain restructuring and domestic policy support [6][7] Precious Metals Insights - International gold prices surged, reaching a historical high of 5300 USD/oz, with the precious metals index rising by 6.76% [9] - The increase in gold prices was attributed to a significant decline in the US dollar index, which fell to 95.77, the lowest since February 2022, making gold more attractive as a non-dollar asset [10][11] Geopolitical and Economic Factors - Geopolitical tensions and concerns over the US dollar's credibility have driven investors towards gold as a safe-haven asset, reflecting heightened global risk aversion [11] - Central banks' continued purchases of gold and expectations of interest rate cuts by the Federal Reserve have further boosted demand for gold ETFs and institutional allocations [12] Domestic Market Trends - Domestic gold prices also rose, with mainstream gold jewelry brands exceeding 1600 CNY/g, driven by strong market demand [13] - The oil sector's rise was primarily due to geopolitical supply disruptions, reflecting a systemic response to both geopolitical risks and a weakening dollar [13]

功能为王：国华人寿年金险矩阵解锁家庭财富规划新路径 年金险作为一种长期储蓄和养老保障工具，其功能性在当前经济环境下尤为重要。与传统的投资产品相比，年金险不仅提供基本的养老保障，还具备多 种附加功能，能够满足投资者在不同阶段的多样化需求。这些功能的引入，使得年金险产品在市场上具备了独特的竞争优势。 在当前全球经济环境充满不确定性的背景下，投资者对于稳健、可靠的金融产品需求日益增长。 其中，兼具安全性、稳定性与强制储蓄属性的银保产品 优势愈发凸显，成为大众进行资产配置、抵御风险的重要选择。 值得注意的是，在众多银保产品中，国华人寿旗下年金险产品凭借 洞察性 的功能定位与 较 全面的保障设计，展现出显著的功能性优势，且其推出的创 新性产品，既能匹配不同人生阶段的财富规划需求，又能 帮助 家庭风险防御体系筑牢根基，这也使其产品价值在市场中脱颖而出。 作为 国内领先 的寿险公司，国华人寿凭借其功能性显著的年金险产品 —— "万年青养老年金保险 （ 优享版 ） " 以及 " 盛世禧年金保险（尊耀版） " ，为投资者提供了应对经济不确定性的有力 " 帮手 " 。 有业内人士分析称， 国华人寿旗下 两款产品 —— "万年青养 ...

Market Overview - The market showed signs of recovery with all three major indices turning positive, and the ChiNext index rising over 1% at one point. The total trading volume in the Shanghai and Shenzhen markets was 2.89 trillion, a decrease of 353.2 billion from the previous trading day. However, over 3,400 stocks in the market experienced declines [2]. Capital Flow Analysis - On January 27, the main capital inflow was directed towards high-growth technology sectors such as electronics and communications, while there was a notable outflow from previously popular sectors like electric equipment and biomedicine [3]. - The top five sectors for capital inflow were dominated by technology, with the electronics sector leading with a net inflow of 31.928 billion. Other sectors like communications and machinery also saw significant increases. Conversely, the top five sectors for capital outflow included electric equipment, non-bank financials, and biomedicine [5]. Stock Performance - The top five stocks with the highest capital inflow were primarily in the communications and electronics sectors, with Zhongji Xuchuang leading at a net inflow of 3.413 billion. Other notable stocks included Tianfu Communication and Dongxin Co., which also saw substantial inflows. The outflow was mainly from heavyweight stocks and previously popular sectors, indicating a clear trend of capital withdrawal [6]. Market Highlights - On January 27, a total of 59 stocks hit the daily limit up, with the semiconductor sector being the biggest winner, accounting for 11 of those stocks [7]. - The sectors with the most stocks hitting the limit up included chips, photovoltaic, and gold, indicating strong market interest in these areas [8]. Sector Movements - Gold stocks experienced a resurgence, with many reaching new highs. The semiconductor and AI computing supply chains showed strength, particularly in memory and CPO directions. In contrast, coal, basic metals, and retail sectors faced declines, while vaccine and lithium battery themes weakened [9][10]. - The recent statements by Tesla CEO Elon Musk regarding space photovoltaics have sparked increased activity in related concepts. Musk announced plans for SpaceX and Tesla to build a total of 200GW of photovoltaic capacity in the U.S. over the next three years, primarily for ground data centers and space AI satellites [10]. Future Outlook - According to Open Source Securities, the release of a hundred GW-level space computing market, combined with the high unit value of space photovoltaic batteries, is expected to open new growth opportunities for the photovoltaic industry [11]. - Guotai Junan Securities also noted that the upcoming dense launch period for low-orbit satellites and the clear trend of commercializing space computing will effectively drive the demand for photovoltaic expansion, with core equipment manufacturers likely to benefit first [12].

2026年以来，A股有色金属市场呈现全面走强态势，有色金属指数（884956.WI）累计上涨24.31%，显著跑赢大盘。贵金属（白银、黄金）与小金属 （钨、锡）表现尤为亮眼，涨幅显著高于工业金属（铅、铝），能源金属内部出现分化。 在这样的背景下，《有色金属行业全景分析》报告，从产业发展宏观战略环境、产业链上下游、竞争格局、产业趋势多维度，对当前有色金属市场进行系 统梳理，为市场决策者提供一份"看结构、找主线、辨强弱"的参考图谱。 行情回顾:有色金属已经走到哪一步? 9 价格变化:哪些金属率先进入上行通道? 产量变化:资源约束供给刚性难改 现货结算价:LME(美元/吨) 全球:产量:当月值(千吨) 50000 5000 2022/1/2 2023/1/2 2021/1/2 2024/1/2 2025/1/2 数据来源:Wind,伦敦金属交易所(LME)每日官方现货结算价格 数据来源: Wind,根据新闻整理 不是全面起飞,而是结构性上涨已经发生。部分金属价格率先走强,行业从低迷走向修复,强 势品种与弱势品种分化 | 名称 | 区间收益率 区间最大回 | | 年化波动 基金总规 | | | --- | --- | ...

文 / 刘思嘉 1 月 26 日，现货 黄金 和期货黄金价格携手冲破 5000 美元 / 盎司关口，同步刷新历史最高纪录。伦敦金现价格 更是 于盘中突破 5 1 00 美元 / 盎司关口 。 自 2026 年初以来，国际金价已连续突破 4500 美元至 5000 美元间的多个重要整数关口，呈现出强劲且 具有 持续性的上涨态势。 | 伦敦金现 | | | SPTAUUSDOZ | | | --- | --- | --- | --- | --- | | 5105.730 +117.560 +2.36% | | | | | | IDC USD 14:49:13 | | | | / . . + | | 家 | 5106.150 | | | | | 三 | 5105.730 | | | | | 总量 | 0 | 现手 | | 0 | | 得意N | | 开盘 | | 4988.170 | | 最高 | 5110.260 | 最低 | 4988.170 | | | 均价 | | 振幅 | | 2.45% | | 外盘 | 0 | 内盤 | | O | | 昨结 | 4988.170 | 脂收 | 4988.170 | | ...