Group 1: Market Performance - The Shanghai Stock Exchange's Sci-Tech Innovation Board semiconductor materials and equipment index fell by 4.36%, with major stocks like Zhongjuxin down 8.62% and Xinyuanwei down 7.89% [1] - The CSI semiconductor materials and equipment index decreased by 4.13%, with leading stocks such as Xidian down 9.65% and Zhongjuxin down 8.81% [1] - The Sci-Tech semiconductor ETF (588170) dropped by 4.16%, with a latest price of 1.73 yuan, while the semiconductor equipment ETF Huaxia (562590) fell by 3.78%, priced at 1.86 yuan [1] Group 2: Fund Flows - The Sci-Tech semiconductor ETF experienced continuous net inflows over the past three days, totaling 550 million yuan, with an average daily net inflow of 183 million yuan [2] - The Huaxia semiconductor equipment ETF saw a recent net inflow of 15.51 million yuan, with a total of 65.89 million yuan over the last five trading days [2] Group 3: Industry Insights - The rapid growth in demand for AI large model training and inference is identified as the core driver of the current recovery in the storage industry, with high-performance storage products experiencing explosive growth [3] - HBM (High Bandwidth Memory) is highlighted as a key component for AI servers, significantly contributing to the performance growth of leading manufacturers [3] - TrendForce forecasts a potential increase of 55% to 60% in general DRAM contract prices and a 33% to 38% rise in NAND flash prices in Q1 2026, indicating a sustained upward trend in storage prices due to ongoing supply constraints [3] Group 4: ETF Information - The Sci-Tech semiconductor ETF (588170) and its linked funds focus on semiconductor equipment (60%) and materials (25%), benefiting from the domestic substitution trend and the AI revolution [3] - The Huaxia semiconductor equipment ETF (562590) also emphasizes semiconductor equipment (63%) and materials (24%), targeting the upstream semiconductor sector [4]

韩国股市周一大幅下挫，监管机构为抑制市场波动，宣布股市短暂停牌。 韩国综合 200 指数期货盘中跌幅超 5%，引发市场运营机构暂停股票交易。 责任编辑：王永生 韩国股市周一大幅下挫，监管机构为抑制市场波动，宣布股市短暂停牌。 韩国综合 200 指数期货盘中跌幅超 5%，引发市场运营机构暂停股票交易。 韩国交易所于当地时间中午 12 点 31 分启动旨在遏制股市过度波动的 "临时停牌"（Sidecar）机制，暂 停卖出委托指令五分钟。该机构表示，目前交易已恢复。 韩国交易所于当地时间中午 12 点 31 分启动旨在遏制股市过度波动的 "临时停牌"（Sidecar）机制，暂 停卖出委托指令五分钟。该机构表示，目前交易已恢复。 受近期上涨后获利了结行为影响，SK 海力士、三星电子等大盘科技股走弱，拖累韩国综合股价指数在 午后交易中下跌 5.1%，报 4958.30 点。 该指数即将终结连续四个交易日的上涨走势。 此次是监管机构首次出手缓和市场过度波动，韩国交易所在去年曾三次启动该 "Sidecar" 机制。 MACD金叉信号形成，这些股涨势不错！ MACD金叉信号形成，这些股涨势不错！ 受近期上涨后获利了结行为影响 ...

该报道笼罩着黄仁勋周末访问中国台湾的行程。在接受提问时，他被问及英伟达与OpenAI的关系以及 双方未来的财务合作。黄仁勋表示，他仍计划向OpenAI投入"相当多的资金"，但当被追问这笔投资是 否可能超过1000亿美元时，他回应称："不，不会到那种规模。"路透社还报道称，黄仁勋认为外界称他 对OpenAI不满的说法"毫无意义"。 2月2日（周一），韩国股市遭遇重创。KOSPI指数大幅下跌5%，创下自2025年11月21日以来的最大单 日跌幅。KOSPI 200指数期货一度下跌5%，程序化交易暂停5分钟。个股方面，芯片巨头三星电子和SK 海力士均一度下跌超过4%。 市场分析认为，此次韩国股市下跌主要源于投资者对利率前景的担忧，以及对AI相关支出可持续性的 质疑。投资AI股票的投资者，或许正在上一堂关于新闻炒作与现实差距的课。 沃什获提名为下任美联储主席所带来的"鹰派"焦虑以及贵金属价格的剧烈波动，导致亚洲股市情绪恶 化。受大宗商品和金属价格下跌影响，印尼股市基准指数周一一度跌超5%，符合触发交易暂停的条 件。 此外，多重因素导致韩国投资者对热门股进行获利了结。1月30日（上周五），全球投资者对韩国股市 的净抛售 ...

2月2日，亚太股市集体跳水。截至北京时间11:50左右，日本东证指数、日经225指数回吐此前涨幅；韩国KOSPI指数跌幅扩大至5%，其中，韩国半导体板 块领跌，SK海力士跌超6%，三星电子跌逾4%。最新消息，韩国证券交易所短暂暂停股票交易。 芯片产业链盘中持续走弱，存储产业链方向领跌，华虹公司跌超10%，此前万润科技（002654）、太极实业（600667）跌停，开普云跌超15%、有方科 技、聚辰股份、普冉股份、同有科技（300302）均跌超10%。 CPO等算力硬件股延续强势，新易盛（300502）盘中涨超10%，续创历史新高，截至午盘收盘涨幅收窄至4.89%，市值4374亿。消息面上，新易盛发布 2025年业绩预告，2025Q4净利预计环比增长29%-50%。腾景科技、德科立、长飞光纤（601869）、长光华芯、天孚通信（300394）跟涨。 电网设备板块掀涨停潮，双杰电气（300444）"20cm"涨停，亿能电力、安靠智电（300617）、新特电气（301120）、森源电气（002358）、保变电气 （600550）等多股涨停或涨超10%。据证券时报，当前全球AI算力建设进入爆发期，电力设备变压器正升级 ...

美股频道更多独家策划、专家专栏，免费查阅>> 责任编辑：栎树 2月2日，由于投资者对利率前景的担忧以及对人工智能相关支出可持续性的质疑，科技股带动的涨势陷 入停滞，韩国股市周一大幅下挫。韩国KOSPI指数一度下跌4%，创下自11月21日以来的最大单日跌 幅。自去年初以来领涨全球的芯片巨头三星电子和SK海力士双双下跌超过4%。 多重因素导致投资者对热门股进行获利了结，其中包括对沃什获提名为下任美联储主席的焦虑以及金属 价格的剧烈波动。此外，英伟达首席执行官黄仁勋的言论进一步挫伤了市场信心，他表示拟议中对 OpenAI的1000亿美元投资"从未是一项承诺"，这引发了市场对未来人工智能资本配置规模的新疑虑。 Allspring Global Investments投资组合经理Gary Tan表示："黄仁勋的言论可能产生了短期情绪影响，特 别是对今年以来涨幅强劲的人工智能相关股。这些言论主要是获利回吐的催化剂，因为我们看到市场上 一些拥挤交易正在解构。" ...

记者｜金珊 李益文 见习记者林芊蔚 编辑｜江佩佩 2月2日，亚太股市集体跳水。 截至北京时间11:50左右，日本东证指数、日经225指数回吐此 前涨幅；韩国KOSPI指数跌幅扩大至5%，其中，韩国半导体板块领跌， SK海力士跌超6%， 三星电子跌逾4%。最新消息， 韩国证券交易所短暂暂停股票交易。 A股方面， 市场早间震荡调整，三大指数均跌超1%。沪深京三市超3400股飘绿，半天成交 1.66万亿元。 | 内地股票 | | | | --- | --- | --- | | 行情 | 资金净流入 | 涨跌分布 | | 上证指数 | 深证成指 | 科创综指 | | 4063.54 | 14006.25 | 1790.74 | | -54.41 -1.32% -199.65 -1.41% -41.82 -2.28% | | | | 万得全A | 创业板指 | 北证50 | | 6690.89 | 3306.94 | 1514.43 | | -92.90 -1.37% -39.41 -1.18% -17.12 -1.12% | | | 白酒股集体走高，其中，水井坊涨超7%，山西汾酒、贵州茅台、五粮液涨超2%，古井贡酒、 ...

资产概览：沃什交易逆转美元与黄金走势 [Table_Authors] 方奕(分析师) ——资产配置全球跟踪 2026 年 2 月第 1 期 本报告导读： 01/26-01/30，沃什获提名概率飙升引发市场短期"沃什交易"，呈现"美元涨+黄金跌 +长端美债跌"的资产格局。原油领涨。韩国 KS11 与 KOSDAQ 年内涨幅破 20%。 略 投资要点： 策略研究 /[Table_Date] 2026.02.01 | | 021-38031658 | | --- | --- | | | fangyi2@gtht.com | | 登记编号 | S0880520120005 | | | 郭佼佼(分析师) | | | 021-38031042 | | | guojiaojiao2@gtht.com | | 登记编号 | S0880523070002 | [Table_Report] 相关报告 成交活跃度上升，上证 50 估值领涨 2026.02.01 2025A 业绩预告情况跟踪（2026.01.28） 2026.01.29 ETF 资金大幅流出，主动外资流入边际抬升 2026.01.27 资产概览：国际金银价格刷新历史 ...

Report Industry Investment Rating No relevant content provided. Core Viewpoints of the Report - Overall, different industries and commodities show diverse trends. Some are affected by geopolitical factors, some by supply - demand relationships, and others by policy changes. For example, geopolitical tensions impact the energy sector, while supply - demand imbalances influence agricultural and industrial products [17][39]. - In the financial market, the style of stock index futures may shift, and the bond market may continue its short - term rebound. In the commodity market, various commodities such as black metals, non - ferrous metals, and energy chemicals have their own specific trends and influencing factors [15][16]. Summary by Relevant Catalogs Macro - Information - Politically, China emphasizes the development of future industries, and the US has political and economic policy changes such as the nomination of a new Fed chair and government budget issues [8][13]. - Economically, China's January 2026 PMI data shows a decline, and the global precious metal market experiences a significant drop. The global storage chip manufacturers take measures to control customer hoarding [8][9][11]. - Financially, the Chinese government makes adjustments to the capital market, including promoting the development of the North Exchange and the New Third Board, and amending relevant regulations for listed companies and public funds [10]. Macro - Finance Stock Index Futures - The index style may shift, with short - term weight stocks potentially outperforming. The current inventory form is in a passive replenishment state, and the PMI data is affected by multiple factors. Although the domestic export is supported by electromechanical products, the short - term market style may change [15]. Treasury Bond Futures - The bond market sentiment improves, and the short - term rebound trend may continue. The capital market is stable after a tight - then - loose period, and the current bond market is affected by supply and other factors [16]. Black Metals Steel and Iron Ore - In the short term, steel and iron ore will fluctuate and consolidate. The current macro - policy has little impact on the market, and the supply - demand relationship of iron ore is relatively loose. The downstream situation and inventory levels affect steel prices [17]. Coking Coal and Coke - The prices of coking coal and coke may fluctuate and consolidate in the short term. The production and inventory of coal and coke change, and the medium - term supply may be affected by policies. The supply - demand contradiction may improve during the Spring Festival [19]. Ferroalloys - For silicon iron, the medium - long - term multi - allocation idea remains unchanged. For manganese silicon, it is recommended to wait and see. The price difference between the two should be bought at low levels. The market is affected by cost and supply - demand factors [19]. Soda Ash and Glass - It is recommended to wait and see for now. The supply of soda ash is high, and there is an expectation of new capacity. The glass market has expectations of production line changes, and the current market is affected by inventory and price adjustment attempts [20]. Non - Ferrous Metals and New Materials Lithium Carbonate - In the short term, it will fluctuate strongly under policy influence. The demand in the first quarter may remain stable, and the supply is restricted, resulting in increased destocking [23]. Industrial Silicon - It will run strongly in the short term but is still under pressure due to pessimistic expectations. The supply - demand relationship may improve in February, but the sustainability is uncertain [24]. Polysilicon - It will run weakly and fluctuate under strict position - limit supervision. The policy affects the market, and the supply - demand relationship is weak, with high inventory pressure [25]. Agricultural Products Cotton - It is in a high - level and strong consolidation state. The short - term supply is loose, but the long - term supply is expected to decrease. The market is affected by factors such as holidays, policies, and inventory [27][30]. Sugar - The domestic sugar market is under supply pressure, and the demand is not strong during the peak season. It is recommended to conduct short - term trading in the low - level range. The global sugar supply is in an oversupply situation [31][32]. Eggs - Before the Spring Festival, the spot price of eggs may weaken. The futures contract for the post - Spring Festival off - season is under pressure. The market is affected by inventory and consumption factors [33]. Apples - The futures price may run strongly. The current market is affected by factors such as inventory, sales, and price [34]. Red Dates - The market is expected to fluctuate weakly. The supply is large, and the demand is stable. It is necessary to pay attention to the sales area's sales rhythm and purchaser's mentality [36]. Pigs - The supply and demand are both increasing, but the supply increase is greater. The short - term contract should be operated with a short - selling strategy. The market is affected by factors such as inventory, sales, and demand [37]. Energy and Chemicals Crude Oil - The price was supported by geopolitical premiums in January. Although there are negotiation signals, the fundamental supply is in excess. It is advisable to try short - selling at high prices [39]. Fuel Oil - The price follows the trend of crude oil, which is mainly affected by geopolitical factors. The supply - demand relationship has marginal improvement, and the inventory is at a high level [40]. Plastics - Polyolefins have high supply pressure and weak downstream demand. Although the upstream loss may support the price, the new capacity expectation restricts the rebound space [41][42]. Synthetic Rubber - It may maintain a strong trend driven by the cost of butadiene. It is advisable to buy on dips and pay attention to the weakening opportunity of the RU - BR price difference [43]. Methanol - The long - term supply - demand pattern is improving, but there is a risk of short - term callback. It is necessary to pay attention to the port inventory and the development of geopolitical conflicts [44]. Caustic Soda - The caustic soda futures should be treated with a bullish and fluctuating mindset. The current production and inventory are at high levels, and the market is affected by factors such as the price of liquid chlorine and the overall commodity market [45]. Asphalt - It will be closely monitored for the change of discount. It may fluctuate strongly in the short term, following the trend of crude oil [45][46]. Polyester Industry Chain - Due to the seasonal off - season, the near - end fundamentals are weak. It is advisable to consider positive spreads between May and September contracts of PX, PTA, or MEG [47]. Liquefied Petroleum Gas (LPG) - The price support logic is weakening, and it is advisable to try short - selling at high prices. The supply and demand of upstream and downstream have changed, and the market is affected by factors such as import cost and season [48]. Pulp - The spot market transaction is weak, and the price has回调. However, the short - term price has support. It is advisable to establish long positions at low prices if the downstream purchasing intention improves [49]. Logs - The fundamental situation is bullish and fluctuating. The spot price is temporarily stable, and the market may fluctuate due to the influence of commodity sentiment [50]. Urea - The urea futures should be operated with a short - selling strategy in the short term. The spot market price is stable or slightly declining, and the market is affected by factors such as futures price changes and supply - side factors [51].

【导读】沪银主力合约开盘跌停，日韩股市早盘快速拉升 一起来关注下日韩股市及最新资讯。 沪银主力合约开盘跌停 2月2日，国内贵金属期货开盘普跌，沪银主力合约跌停，铂、钯跌超15%，沪金、沪锡跌超9%。 2月2日，上海黄金交易所发布通知称，调整白银延期合约保证金水平和涨跌停板。 个股方面，藤仓、高岛屋、日本永旺等涨幅居前。 | 名称 | 现价 | 涨跌幅 ⇒ | 总市值 三 | | --- | --- | --- | --- | | 藤仓 | 20630.0 | 5.42% | 61037亿 | | 5803.T | | | | | 高岛屋 | 2022.5 | 4.79% | 6382亿 | | 8233.T | | | | | 日本永旺 | 2210.0 | 4.49% | 61516亿 | | 8267.T | | | | | 太阳诱电 | 3383.0 | 4.38% | 4405亿 | | 6976.T | | | | | 荏原制作所 | 4854.0 | 4.25% | 22435亿 | | 6361.T | | | | | TDK电子 | 2067.0 | 4.34% | 40180亿 | | 67 ...

韩亚证券测算，韩国综合股价指数成分股中的三星电子、SK海力士，2026年净利润占比预计将达 51%。 值得关注的是，若参照2016-2018年半导体超级周期期间，行业股价涨幅相对盈利增速的溢价比 例（1.08倍）测算，当前半导体行业仍有约33%的上涨空间。 汽车行业则迎来了"机器人"这一新增长引 擎。现代汽车集团等韩国车企的市净率（PBR）持续走高，这一信号表明，市场对其的估值已不再局限 于业绩改善，而是围绕机器人相关业务的成长价值展开重估。分析认为，正如特斯拉从电动汽车量产、 实现盈利扭亏开始，股价涨幅超10倍，韩国车企的股价走势，也正反映出市场对其机器人业务量产、盈 利转正的强烈预期。韩亚证券研究员Lee Jae-man表示："1月收益率最高的行业，截至6月通常能实现 11%以上的高额回报，今年上半年的投资组合核心仍将聚焦汽车和半导体板块。" ...