2026开年第一爆：中国资产狂飙，AI芯片抢跑，全球市场谁主沉浮？

Group 1: Chinese Assets Performance - On the first trading day of 2026, Chinese assets saw a significant rise, with the Hang Seng Index increasing by 2.76% and the Hang Seng Tech Index soaring by 4.00% [1] - The Nasdaq Golden Dragon Index also performed well, rising by 4.38%, driven by major tech companies like Baidu, Alibaba, and Bilibili [1] - The surge was primarily fueled by developments in AI and chips, including Baidu's announcement of spinning off its AI chip company Kunlun for a Hong Kong listing, igniting market enthusiasm for domestic AI computing power [1] Group 2: Global Market Dynamics - In contrast to the Asian markets, the US and European markets exhibited mixed performance, with US chip stocks led by Nvidia and AMD showing strength, while Tesla's decline due to lower delivery volumes negatively impacted overall market sentiment [3] - Micron Technology's stock surged by 10.51%, reaching a historical high, indicating strong demand for semiconductors driven by AI [3] - European markets reached historical highs, with the FTSE 100 index surpassing 10,000 points and the Stoxx Europe 600 index rising by 0.7%, particularly boosted by automotive and tech stocks [3] Group 3: Electric Vehicle Market Shift - BYD achieved a significant milestone in 2025, with pure electric vehicle sales reaching 2.26 million units, a year-on-year increase of nearly 28%, surpassing Tesla to become the global leader in electric vehicle sales [5] - Tesla's global delivery volume in 2025 was 1.636 million units, reflecting a year-on-year decline of approximately 8.6%, marking the second consecutive year of sales decline [5] - This shift highlights the changing competitive landscape in the global electric vehicle market, with Chinese brands leveraging scale and cost advantages [5] Group 4: Consumer Price Trends - A pilot program for prize invoices was launched by the Ministry of Finance, the Ministry of Commerce, and the State Taxation Administration, aimed at encouraging consumers to request invoices and injecting vitality into the consumption market [7] - However, there are warnings of a potential price increase for essential goods starting January 2026, driven by factors such as decreased winter vegetable production, rising grain prices due to international supply fluctuations, and increased costs for daily necessities and pharmaceuticals [8] Group 5: Investment Themes - The market performance at the start of 2026 outlines two main investment themes: hard technology and policy-driven consumption [9] - Hard technology sectors, including AI computing, commercial aerospace, and humanoid robotics, are expected to benefit from global technological competition and domestic policy support [9] - Policy dividend areas such as power grid construction, new energy, and high-end manufacturing are also gaining attention due to strong industrial demand and financial investments [9]