中韩举行会谈：申万期货早间评论-20260106

Core Viewpoint - The article discusses recent developments in international relations, commodity markets, and economic indicators, highlighting potential investment opportunities and market trends. Group 1: International News - A meeting between the leaders of China and South Korea resulted in the signing of 15 cooperation documents in various fields, including technology innovation and economic cooperation [1] - Venezuela's President Maduro appeared in a New York federal court facing charges from the U.S. Justice Department, declaring "not guilty" [1] Group 2: Economic Indicators - The U.S. ISM manufacturing index slightly decreased from 48.2 to 47.9, marking the tenth consecutive month below 50, the lowest since October 2024 [1] - U.S. Treasury yields have declined, while U.S. stock markets reached new highs, with energy and chemical sectors showing strength in night trading [1] Group 3: Commodity Markets Precious Metals - Gold and silver prices are rebounding due to easing inflation pressures in the U.S. and expectations of interest rate cuts, supported by a global easing cycle [2] - Silver's supply remains tight, with industrial demand from sectors like photovoltaics driving investment interest [2] - Platinum demand is increasing due to its use in hybrid vehicles and hydrogen energy, with prices expected to rise [2] Copper - Copper prices rose by 1.28%, reaching a historical high, driven by tight supply and stable demand in electricity and automotive sectors [3] - The overall copper supply-demand outlook is shifting towards a deficit due to supply disruptions [3] Oil - After a significant drop, oil prices recovered slightly, with Venezuela's oil production facing uncertainties [3] - UBS forecasts that the global oil market will not see significant changes in supply-demand balance over the next 12 months [3] Group 4: Financial Markets - U.S. stock indices rose, with significant gains in the media sector, while the oil and petrochemical sectors lagged [9] - The financing balance in China decreased, indicating potential shifts in market liquidity and investment dynamics [9] Group 5: Domestic News - China's child-rearing subsidies have been fully opened for applications, with over 24 million recipients reported [6] - The Chinese government is focusing on stabilizing the real estate market through various supportive measures [10]