万联晨会-20260119

Core Viewpoints - The A-share market experienced a collective decline last Friday, with the Shanghai Composite Index falling by 0.26%, the Shenzhen Component Index by 0.18%, and the ChiNext Index by 0.2%. The total trading volume in the Shanghai and Shenzhen markets reached 30,260.91 billion yuan [1][7]. - In terms of industry performance, the electronics, automotive, and machinery sectors led the gains, while media, computer, and oil & petrochemical sectors lagged behind. Concept sectors such as storage chips, state-owned fund holdings, and advanced packaging saw significant increases, whereas Sora concept, Kuaishou concept, and DRG/DIP faced notable declines [1][7]. - The Hong Kong market also saw declines, with the Hang Seng Index down by 0.29% and the Hang Seng Tech Index down by 0.11%. Internationally, the U.S. markets also closed lower, with the Dow Jones down by 0.17%, S&P 500 down by 0.06%, and Nasdaq down by 0.06% [1][3][7]. Important News - Several EU countries are considering imposing tariffs on U.S. goods worth 93 billion euros and may restrict U.S. companies' access to the EU market in response to U.S. President Trump's tariffs on imports from eight European countries. Trump announced a 10% tariff on goods from Denmark, Norway, Sweden, France, Germany, the UK, the Netherlands, and Finland starting February 1, with plans to increase it to 25% by June 1 [2][8]. - Elon Musk has filed a lawsuit against OpenAI and its core partner Microsoft for fraud, seeking damages between 79 billion and 134 billion dollars. Musk claims OpenAI has deviated from its non-profit mission by collaborating with Microsoft. OpenAI has responded that the lawsuit is baseless, and Microsoft stated there is no evidence of wrongdoing. A federal judge has ruled that the case will go to jury trial, expected to start in April [2][8].