芯片传来重磅信号。 据最新数据，今年前20天，号称全球经济"金丝雀"的韩国出口半导体总金额达107.3亿美元（约合人民 币747亿元），同比大幅增长超70%。这预示着，在AI（人工智能）浪潮下，全球半导体需求仍非常强 劲。受此影响，存储芯片巨头三星电子股价直线拉升，21日盘中一度大涨超3%。 昨晚，芯片股普遍上涨，费城半导体指数涨3.18%，刷新历史新高，英特尔涨超11%，超威半导体涨逾 7%，美光科技涨超6%，ARM涨逾6%，微芯科技涨超4%，博通跌逾1%。 在此之前，美股存储芯片概念股周二也全线飙涨，闪迪一度暴涨超10%。有机构分析指出，本轮存储芯 片涨价并非短期市场情绪驱动，而是由"先进制程产能受限"与"AI服务器需求刚性增长"双重因素共同作 用，其持续性明显强于历史周期。 暴增超70% 当地时间1月21日，韩国海关部门披露的数据显示，2026年1月1日至20日期间，韩国出口额达到363.6亿 美元，同比增长14.95%；韩国进口额为369.8亿美元，同比增长4.2%，贸易逆差约为6亿美元。 从产品类别看，本月前20天，韩国半导体出口额达107.3亿美元，同比大幅增长70.2%，占出口总额的 29.5% ...

存储芯片股涨势延续，美光科技、西部数据涨超5%，闪迪一度涨4.6%，均刷新历史高位。 此外，花旗近期上调对多家存储芯片制造商的目标价，其中对闪迪目标价的上调幅度最大，将其目标价 从280美元上调至490美元，维持"买入"评级。花旗在报告中指出，这些公司仍然是"超大规模数据中心 强劲的需求支撑存储价格上涨"的主要受益者。(格隆汇) 消息面上，韩国两大存储芯片巨头三星电子和SK海力士据报将继续削减NAND闪存产量，或进一步加 剧供应短缺情况。美光高管近日则重申内存短缺的状况将持续到2026年以后。 ...

JPMorgan Chase and Citigroup are mulling reductions to fixed pay for their senior executives in the UK, reported Bloomberg citing sources. This follows the recent modifications to local remuneration regulations. JPMorgan is expected to reach a decision in the coming weeks on whether to cut or entirely remove fixed allowances for employees deemed “material risk takers,” a category that includes senior traders, investment bankers, and compliance executives, according to a person privy to the development. ...

Citigroup Inc. (NYSE:C) is one of the 10 Goldman Sachs undervalued stocks to invest in. Citigroup (C) EPS Beat Drives Q4 2025 Results Ken Wolter / Shutterstock.com On January 14, 2026, Citigroup Inc. (NYSE:C) reported Q4 2025 results, delivering an earnings beat primarily driven by a sharp recovery in dealmaking and stronger corporate client activity. On an adjusted basis, Citigroup Inc. (NYSE:C) posted earnings of $1.81 per share, beating the $1.67 consensus. Earnings were driven by the 35% year-over- ...

花旗全球市场亚洲交易策略主管穆罕默德·阿帕巴伊20日在这份报告中写道，风险平价基金可能需要卖 出其当前风险敞口三分之一的资产。这些基金在股票、债券和大宗商品等多个类别配置资产。如果这些 基金选择卖出，仅在美国就可能引发高达1300亿美元的债券抛售。 花旗银行报告称日债动荡恐致美债遭大规模抛售 卜晓明 美国花旗集团一份研究报告20日说，日本国债市场动荡可能外溢至其他市场，尤其是美国国债市场，迫 使一些投资者降低多种资产类别的投资风险。 日本30年期和40年期国债收益率20日上涨超过25个基点并创新高。随着日本定于2月8日举行众议院选 举，投资者担心市场波动今后将进一步加剧。 随着多国债市大幅波动，国际现货黄金价格21日突破每盎司4880美元，创历史新高。（完）（新华社专 特稿） 美国财政部长贝森特说，他已与日本财务大臣片山皋月通电话，并称日本债市波动加剧已影响美债市 场。 由于对日本财政状况的担忧日益加剧，日本债券市场波动性自去年初以来一直上升，并对全球产生显著 溢出效应。彭博社分析，这一转变源于日本央行决定放弃收益率曲线控制政策，并开始逐步减少购买日 本国债。 与此同时，为反制美国总统特朗普多次扬言要得到丹麦 ...

数据显示，截至2025年12月31日，中证人工智能主题指数(930713)前十大权重股分别为中际旭创、新易 盛、寒武纪、澜起科技、中科曙光、科大讯飞、海康威视、豪威集团、金山办公、浪潮信息，前十大权 重股合计占比58.08%。 AI人工智能ETF(512930)，场外联接(平安中证人工智能主题ETF发起式联接A：023384；平安中证人工 智能主题ETF发起式联接C：023385；平安中证人工智能主题ETF发起式联接E：024610)。 风险提示：基金有风险，投资需谨慎。基金管理人承诺以诚实信用、勤勉尽责的原则管理和运用基金资 产，但不保证本基金一定盈利，也不保证最低收益。基金管理人提醒投资人基金投资的"买者自负"原 则，在做出投资决策后，基金运营状况与基金净值变化引致的投资风险，由投资人自行负担。基金的过 往业绩及其净值高低并不预示其未来业绩表现，基金管理人管理的其他基金的业绩不构成对本基金业绩 表现的保证。投资人购买基金，既可能按其持有份额分享基金投资所产生的收益，也可能承担基金投资 所带来的损失。投资人应当认真阅读《基金合同》《招募说明书》等基金法律文件，全面认识本基金的 风险收益特征和产品特性，并根据 ...

Group 1 - The Shanghai Free Trade Account (FT Account) has seen significant developments recently, with the approval of new financial institutions and upgrades to existing accounts, indicating a potential increase in foreign participation in China's cross-border financial activities [1][2] - Morgan Stanley Bank (China) Limited's Shanghai branch has been approved as the first new FT account financial institution in over five years, marking a notable opportunity for foreign banks in the region [1] - As of the latest update, there are 62 financial institutions with FT account qualifications in Shanghai, with 49 being banks, reflecting a growing trend in the FT system [1] Group 2 - The implementation of the "Implementation Measures for the Function Upgrade of Free Trade Accounts" by the People's Bank of China on December 5 has introduced significant policy upgrades, allowing for more flexible cross-border fund transfers [2][4] - The new regulations enable trial enterprises to conduct capital account business without the constraints of external debt quotas or prior registration with foreign exchange authorities, enhancing operational efficiency [2][4] - Major banks, including state-owned and foreign banks, have quickly responded to the new policy by facilitating the opening of upgraded FT accounts for clients, indicating strong market interest and potential for increased cross-border trade [3][4] Group 3 - The recent policy changes are expected to create a multiplier effect for cross-border trade and investment, improving the efficiency of capital allocation for enterprises [4] - The expansion of the FT account system is anticipated to continue, with more financial institutions likely to be added to the list of qualified entities in the future [5]

Core Viewpoint - The volatility of Japanese government bonds has sharply increased, which may lead to heightened volatility in other asset classes, particularly U.S. Treasuries, necessitating a reduction in overall portfolio sizes [1] Group 1: Impact on Investment Strategies - Risk parity funds may need to sell up to one-third of their current exposures, potentially triggering a bond sell-off of up to $130 billion in the U.S. alone [1] - The increase in volatility of Japanese bonds is expected to have a significant impact on the Korean bond market, which is highly susceptible to these fluctuations [1] Group 2: Foreign Investment Concerns - Since July 2024, foreign investors have incurred cumulative losses exceeding 10% on Korean government bonds, raising the risk of triggering stop-loss sell-offs [1] - The UK government bonds may also face similar risks due to the increased volatility in Japanese bonds [1]

Market Overview - US stock indices experienced a significant decline, with the Dow Jones falling by 870 points (1.76%), the S&P 500 down by 143.15 points (2.06%), and the Nasdaq dropping by 561.07 points (2.39%) [1] - The Chicago Board Options Exchange Volatility Index (VIX), known as Wall Street's "fear index," surged above 20, reaching recent highs [1] Technology Sector - Major tech stocks saw substantial losses, with Nvidia and Tesla both dropping over 4%, while Apple and Amazon fell more than 3% [2][3] - Nvidia's stock price was reported at $178.07, down 4.38%, and Tesla at $419.25, down 4.17% [3] Streaming and Media - Netflix's post-market decline expanded to nearly 5% due to disappointing first-quarter earnings outlook and adjustments to its acquisition proposal for Warner Bros. assets to an all-cash offer totaling $82.7 billion [4] Semiconductor Industry - The semiconductor sector faced widespread declines, with Broadcom and Skyworks Solutions dropping over 5%, while TSMC fell more than 4% [4] Banking Sector - Bank stocks also fell across the board, with Citigroup down over 4% and JPMorgan and Morgan Stanley both declining more than 3% [4] Chinese Stocks - Chinese stocks mostly declined, with JinkoSolar down 12.5% and CenturyLink down over 10% [4][5] Bond Market - US Treasury yields rose to a four-month high, while the dollar index fell by 0.41%, marking its worst two-day performance in about a month [6] Precious Metals - Gold and silver prices reached new highs, with spot gold exceeding $4,763 per ounce and silver surpassing $94 per ounce [8][9] Cryptocurrency Market - The cryptocurrency market experienced a significant downturn, with Bitcoin dropping below $90,000 and Ethereum falling below $3,000, affecting approximately 163,000 traders [10][11]

Core Viewpoint - The current move away from American assets is not expected to be long-lasting, according to Citigroup CEO Jane Fraser [1][7]. Market Reactions - U.S. stocks experienced a significant decline, the dollar weakened, and bond prices fell, leading to a sharp increase in Treasury yields, while investors shifted towards gold and silver following the announcement of tariffs related to Greenland [2][3]. Investor Sentiment - Fraser expressed confidence that momentum will return to favor American assets, emphasizing the resilience of American entrepreneurs and consumers despite geopolitical challenges [3][4]. - Corporate leaders are optimistic about a resolution to the current uncertainties, and companies have adapted to manage trade disruptions effectively [4][6]. Economic Outlook - The U.S. economy is positioned strongly, with robust consumer spending during the holidays and potential increases in spending due to tax code changes. Companies may also benefit from deregulation and investments in AI [5][6].