2025 年 12 月 22 日 资讯晨报 | 道琼斯工业 | 47,975 48,135 | | 0.38 | 4.09 | | --- | --- | --- | --- | --- | | 纳斯达克 | 23,122 23,308 | | 1.31 | 4.64 | | 标普500 | 6,793 | 6,835 | 0.88 | 3.51 | | 富时100 | 9,838 | 9,897 | 0.61 | 3.88 | | 日经225 | 49,388 49,507 | | 1.03 | 1.81 | | 上证指数 | 3,878 | 3,890 | 0.36 | 1.45 | | 深证指数 | 13,116 13,140 | | 0.66 | 4.80 | | 科创50 | 1,315 | 1,309 | 0.20 | 1.77 | | 恒生指数 | 25,634 25,691 | | 0.75 | -0.54 | 主要市场股指表现 -1.00 0.00 1.00 2.00 3.00 4.00 5.00 6.00 （%） 近一交易日% 近20交易日% 工作邮箱：zqyjsw@jyzq.cn 金元晨 ...

2025 年 12 月 19 日 每日晨报 | 指数 | 开盘价 | 收盘价 | 近一交易日% | 近20交易日% | | --- | --- | --- | --- | --- | | 道琼斯工业 | 48,101 | 47,952 | 0.14 | 3.93 | | 纳斯达克 | | 23,012 23,006 | 1.38 | 1.96 | | 标普500 | 6,778 | 6,775 | 0.79 | 2.00 | | 富时100 | 9,774 | 9,838 | 0.65 | 3.25 | | 日经225 | 49,058 49,002 | | -1.03 | 0.96 | | 上证指数 | 3,857 | 3,876 | 0.16 | -1.39 | | 深证指数 | | 13,113 13,054 | -1.29 | 0.56 | | 科创50 | 1,315 | 1,306 | -1.46 | -1.67 | | 恒生指数 | 25,331 | 25,498 | 0.12 | -1.31 | | 主要市场股指表现 | | | | | | 5.00 （%） | | 近一交易日% | 近20交 ...

2025 年 12 月 18 日 每日晨报 | 指数 | 开盘价 | 收盘价 | 近一交易日% | 近20交易日% | | --- | --- | --- | --- | --- | | 道琼斯工业 | 48,128 47,886 | | -0.47 | 3.89 | | 纳斯达克 | 23,136 22,693 | | -1.81 | 1.16 | | 标普500 | 6,803 | 6,721 | -1.16 | 1.57 | | 富时100 | 9,685 | 9,774 | 0.92 | 2.81 | | 日经225 | 49,413 49,512 | | 0.26 | 1.66 | | 上证指数 | 3,823 | 3,870 | 1.19 | -1.94 | | 深证指数 | 12,927 13,225 | | 2.40 | 1.10 | | 科创50 | 1,295 | 1,325 | 2.47 | -1.45 | | 恒生指数 | 25,244 25,469 | | 0.92 | -1.40 | | 主要市场股指表现 | | | | | | 5.00 | | | | | | （%） 4.00 ...

2025 年 12 月 17 日 每日晨报 | 指数 | 开盘价 收盘价 | | 近一交易日% | 近20交易日% | | --- | --- | --- | --- | --- | | 道琼斯工业 | 48,380 48,114 | | -0.62 | 3.27 | | 纳斯达克 | 22,982 23,111 | | 0.23 | 1.78 | | 标普500 | 6,800 | 6,800 | -0.24 | 1.92 | | 富时100 | 9,751 | 9,685 | -0.68 | 1.39 | | 日经225 | 50,051 | 49,383 | -1.56 | -1.87 | | 上证指数 | 3,862 | 3,825 | -1.11 | -2.92 | | 深证指数 | 13,085 12,915 | | -1.51 | -1.27 | | 科创50 | 1,314 | 1,293 | -1.94 | -4.75 | | 恒生指数 | 25,548 25,235 | | -1.54 | -2.68 | | 主要市场股指表现 | | | | | | 4.00 （%） | | 近一交易日% ...

International Market Overview - The European stock indices closed higher, with the German DAX up 0.07% at 24,203.43 points, the French CAC40 up 0.7% at 8,124.88 points, and the UK FTSE 100 up 1.06% at 9,751.31 points [11] - The US stock market saw slight declines, with the Dow Jones down 0.09% at 48,416.56 points, the S&P 500 down 0.16% at 6,816.51 points, and the Nasdaq down 0.59% at 23,057.41 points [11] - The Hong Kong Hang Seng Index closed down 1.34% at 25,628.88 points, with the Hang Seng Tech Index falling 2.48% [11] - The Nikkei 225 index in Japan fell 1.31% to 50,168.11 points, while the KOSPI index in South Korea dropped 1.84% to 4,090.59 points [11] Domestic News - The article by Xi Jinping in "Qiushi" magazine emphasizes that expanding domestic demand is a strategic move essential for long-term economic stability and security [12] - In November, China's industrial output increased by 4.8% year-on-year, while the service production index rose by 4.2% [13] - The Ministry of Commerce and other departments issued a plan to promote high-quality development in the service outsourcing sector, aiming to cultivate competitive enterprises by 2030 [14] - The National Bureau of Statistics reported a decline in housing prices across 70 cities, with a year-on-year decrease expanding [15] Company News - Meituan announced the suspension of its "Tuan Hao Huo" business to focus on exploring new retail formats [16] - Nvidia released the latest version of its AI model series, Nemotron 3, aimed at providing customizable AI development capabilities across industries [16] - Aerospace Electronic plans to increase its investment in its subsidiary by 728 million yuan [16] - Pengding Holdings intends to invest a total of 4.297 billion yuan in a Thai park by 2026 [16] - Jingjia Microelectronics reported that its subsidiary's AI SoC chip has completed key development stages [16] Research Recommendations - The report on low-altitude economy highlights various developments, including the establishment of a logistics route for drones and the successful test flights of new drone models [17] - The report on 3D NAND suggests that it may become a new growth curve in storage, driven by the expansion of AI applications [18] - The report on the computer industry notes Google's collaboration with a Chinese company to develop AR glasses, marking a significant advancement in the AR field [19]

2025 年 12 月 15 日 资讯晨报 | 指数 | 开盘价 收盘价 | | 近一交易日% | 近20交易日% | | --- | --- | --- | --- | --- | | 道琼斯工业 | 48,715 48,458 | | -0.51 | 2.11 | | 纳斯达克 | 23,489 23,195 | | -1.69 | 1.42 | | 标普500 | 6,887 | 6,827 | -1.07 | 1.33 | | 富时100 | 9,703 | 9,649 | -0.56 | -0.51 | | 日经225 | 50,480 50,837 | | 1.37 | -0.87 | | 上证指数 | 3,869 | 3,889 | 0.41 | -2.53 | | 深证指数 | 13,174 13,258 | | 0.84 | 0.32 | | 科创50 | 1,324 | 1,349 | 1.74 | -0.91 | | 恒生指数 | 25,761 | 25,977 | 1.75 | -2.24 | | 主要市场股指表现 | | | | | | 3.00 （%） | | 近一交易日% | 近 ...

2025 年 12 月 12 日 资讯晨报 | 指数 | 开盘价 | 收盘价 | 近一交易日% | 近20交易日% | | --- | --- | --- | --- | --- | | 道琼斯工业 | | 48,083 48,704 | 1.34 | 0.93 | | 纳斯达克 | | 23,509 23,594 | -0.25 | 0.80 | | 标普500 | 6,861 | 6,901 | 0.21 | 0.73 | | 富时100 | 9,656 | 9,703 | 0.49 | -1.07 | | 日经225 | 50,818 50,149 | | -0.90 | -1.79 | | 上证指数 | 3,904 | 3,873 | -0.70 | -3.88 | | 深证指数 | | 13,333 13,147 | -1.27 | -2.44 | | 科创50 | 1,350 | 1,326 | -1.55 | -5.25 | | 恒生指数 | 25,711 | 25,531 | -0.04 | -5.70 | | 主要市场股指表现 | | | | | | 2.00 | | | | | | 1.0 ...

Core Insights - The report highlights the resilience of the Chinese economy despite multiple challenges, with projected growth rates of 5.0% and 4.5% for 2025 and 2026 respectively, which are upwardly revised by 0.2 and 0.3 percentage points compared to previous forecasts [14][15] - The report notes significant movements in international markets, with the U.S. stock indices showing an overall increase, particularly the Dow Jones rising by 1.05% and the S&P 500 by 0.67% [10][13] - The report discusses the impact of the Federal Reserve's decision to lower interest rates by 25 basis points, marking the third such reduction in 2023, which aims to maintain liquidity in the banking system [10][11] International Market Overview - European markets showed mixed results, with the DAX and CAC40 indices both declining by 0.37%, while the FTSE 100 increased by 0.14%, influenced by fiscal concerns and rising bond yields [13] - In the U.S. market, major indices closed higher, with notable gains from companies like Nike and Caterpillar, while the tech sector faced some declines, particularly among major tech stocks [10][13] - The Asia-Pacific market saw the Hang Seng Index rise by 0.42%, while the Nikkei 225 experienced a slight decline of 0.1% [10][13] Domestic News - The report mentions that China's Consumer Price Index (CPI) rose by 0.7% year-on-year in November, the highest since March 2024, indicating inflationary pressures [15] - It also highlights the significant growth in the light industry sector, with a reported increase of 5.8% in value added for the first ten months of the year, driven by strong performance in battery and plastic furniture manufacturing [16] - The report notes the recent decision by major banks to stop offering five-year large-denomination certificates of deposit, which has sparked considerable discussion in the market [15] Company-Specific Developments - Alibaba's AI application, "Qianwen," has rapidly gained popularity, reaching over 30 million monthly active users within 23 days of its public testing [17] - Meta is reportedly utilizing various third-party models, including Alibaba's Qwen, to optimize its new AI model "Avocado," expected to launch in spring 2024 [17] - Companies like Ningde Times are planning to issue bonds up to 10 billion yuan, while Huayi Brothers is facing debt issues and plans to gradually exit certain assets [17]

Core Insights - The report highlights mixed performance in major global stock indices, with the Dow Jones Industrial Average declining by 0.38% and the S&P 500 down by 0.09%, while the Nasdaq saw a slight increase of 0.13% [5][11] - The report indicates a potential 7% growth in global trade by 2025, driven by South-South trade and economic activities in East Asia and Africa, amounting to an increase of approximately $2.2 trillion [10] - The report notes that the U.S. private sector added an average of 4,750 jobs per week, ending a four-week streak of job losses, with job openings in October reaching 7.67 million, significantly above expectations [10] International Market Overview - European markets showed mixed results, with the DAX index rising by 0.45% while the CAC40 and FTSE 100 indices fell by 0.69% and 0.03% respectively, influenced by industrial data and fiscal concerns [5][11] - In the U.S. market, major indices experienced slight declines, with the Dow down 0.38% and the Nasdaq up 0.13%, as investors awaited the Federal Reserve's interest rate decision [5][11] - The Asia-Pacific market saw the Hang Seng Index drop by 1.29%, while the Nikkei 225 increased by 0.14%, reflecting varied investor sentiment across sectors [5][11] Company News - Medline, a major player in the medical supplies sector, is planning a significant IPO, potentially raising up to $5.37 billion, which could be the largest IPO of 2025 [16] - SpaceX is preparing for its IPO in mid-2026, contingent on market conditions [16] - In the A-share market, notable announcements include a developer conference by Moore Threads and a licensing agreement between Fosun Pharma's subsidiary and Pfizer for a new diabetes treatment [16]

资讯晨报 ——金元证券研究 2025 年 12 月 9 日 资讯晨报 | 指数 | 开盘价 | 收盘价 | 近一交易日% | 近20交易日% | | --- | --- | --- | --- | --- | | 道琼斯工业 | 47,972 47,739 | | -0.45 | 1.60 | | 纳斯达克 | 23,638 23,546 | | -0.14 | 2.35 | | 标普500 | 6,875 | 6,847 | -0.35 | 1.75 | | 富时100 | 9,667 | 9,645 | -0.23 | -1.45 | | 日经225 | 50,643 50,582 | | 0.18 | 0.61 | | 上证指数 | 3,909 | 3,924 | 0.54 | -2.35 | | 深证指数 | 13,179 13,330 | | 1.39 | -0.73 | | 科创50 | 1,326 | 1,351 | 1.86 | -4.03 | | 恒生指数 | 26,068 25,765 | | -1.23 | -3.32 | | 主要市场股指表现 | | | | | | 3.00 | | ...