海外高频 | 开年行情港股大涨（申万宏观·赵伟团队）

Group 1 - The article discusses the significant rise in the Hong Kong stock market at the beginning of the year, while gold and silver prices have rapidly declined [2][40][91] - The S&P 500 index experienced a decline of 1.0%, while the 10-year U.S. Treasury yield increased by 5.0 basis points to 4.19% [8][19][91] - The U.S. dollar index rose by 0.4% to 98.46, and the offshore RMB appreciated to 6.97 [25][35][91] Group 2 - The article highlights the geopolitical tensions following U.S. military actions in Venezuela, marking an escalation in military pressure on the Maduro regime [56] - Japan's government announced a record-high budget for the fiscal year 2026, totaling 122.3 trillion yen, which is a 6.3% increase from the previous fiscal year [61] - The U.S. has postponed tariff increases on furniture and semiconductor imports, maintaining the current 25% tariff rate [66][67] Group 3 - The article notes that most developed countries' 10-year government bond yields have risen, with the U.S. yield increasing by 5.0 basis points [19][22] - Emerging market 10-year government bond yields mostly increased, with Turkey's yield rising by 133.0 basis points to 29.06% [22] - Commodity prices showed mixed results, with WTI crude oil prices rising by 1.0% to $57.3 per barrel, while precious metals saw significant declines [40][46]