国际金价银价再创历史新高；六大行个人消费贷贴息新政落地丨盘前情报

Market Performance - On January 22, the A-share market saw a rebound in the afternoon, with all three major indices closing in the green. The Shanghai Composite Index rose by 0.14%, the Shenzhen Component Index increased by 0.5%, and the ChiNext Index gained 1.01%. The total trading volume in the Shanghai and Shenzhen markets reached 2.69 trillion yuan, an increase of 91 billion yuan compared to the previous trading day [1][2] - Over 3,500 stocks in the market experienced gains, with notable performances in sectors such as commercial aerospace, robotics, oil and gas, coal, and PCB concepts. Conversely, sectors like insurance, semiconductors, and pharmaceuticals saw declines, particularly in the innovative drug concept [1] International Market Overview - On January 22, major U.S. stock indices rose, with the Dow Jones Industrial Average up by 306.78 points (0.63%), the S&P 500 up by 37.73 points (0.55%), and the Nasdaq Composite up by 211.20 points (0.91%) [2] - European stock indices also saw gains, with the FTSE 100 up by 11.96 points (0.12%), the CAC 40 up by 79.72 points (0.99%), and the DAX up by 295.49 points (1.20%) [2] Commodity Prices - International oil prices fell on January 22, with light crude oil futures for March delivery down by $1.26 to $59.36 per barrel (a decrease of 2.08%), and Brent crude oil futures down by $1.18 to $64.06 per barrel (a decrease of 1.81%) [3] Monetary Policy Developments - The People's Bank of China announced a 900 billion yuan MLF operation scheduled for January 23, 2026, to maintain ample liquidity in the banking system. This marks the 11th consecutive month of increased MLF operations [4] - The central bank's governor indicated that there is still room for further interest rate cuts and reserve requirement ratio reductions to support economic stability and growth [6][7] Industry Insights - The Ministry of Commerce and nine other departments released guidelines to promote the high-quality development of the pharmaceutical retail industry, emphasizing smart regulation and risk-based management [5] - Major banks in China announced the extension of personal consumption loan fiscal subsidy policies until December 31, 2026, expanding support to include credit card installment payments and increasing subsidy limits [5] - A new "fiber chip" technology developed by researchers at Fudan University has achieved large-scale integrated circuit production within flexible polymer fibers, indicating advancements in the semiconductor industry [9] Investment Opportunities - The National Medical Insurance Administration's new guidelines for surgical robots and related consumables are expected to accelerate the adoption of surgical robots in China, presenting investment opportunities in the medical device sector [12] - The ongoing transition in China's electricity consumption from industrial to service sectors, along with the increasing contribution of renewable energy sources, highlights potential investment areas in the power generation sector [12]