Market Overview - The Hong Kong stock market experienced fluctuations, with the Hang Seng Index closing at 23,831 points, down 145 points or 0.61% [1] - The market turnover decreased to 82.799 billion HKD, with net inflows of 484 million HKD recorded in the Hong Kong Stock Connect [1] - The US stock market saw all three major indices rise, with the Dow Jones up 0.63%, S&P 500 up 0.81%, and Nasdaq up 1.26%, driven by Nvidia's strong earnings report [2] Sector Performance - In Hong Kong, local real estate, software, and 5G concept sectors faced significant declines, while gold stocks performed well [1] - The technology sector showed mixed results, with the Hang Seng Technology Index slightly down by 0.19% [1] - In the US, major tech stocks like Microsoft and Facebook saw gains, while the Nasdaq China Golden Dragon Index fell by 0.47% [2] Investment Opportunities - The report emphasizes the importance of "self-reliance in technology" and AI applications as key themes for future growth in the Hong Kong stock market, suggesting that leading companies in these sectors may see long-term development opportunities [3] - The recent policies from the Ministry of Industry and Information Technology regarding national computing power and communication infrastructure are expected to boost domestic computing and communication sectors [3] - Investors are advised to focus on sectors supported by policies aimed at expanding domestic consumption, such as sports apparel and non-essential services, as well as undervalued central state-owned enterprises with high dividends [3] Key Company Highlights - Haidilao (6862.HK) led the Hang Seng Index component stocks with a gain of 6.2%, while HSBC Holdings (0005.HK) and Longfor Group (0960.HK) rose by 5.5% and 4.6%, respectively [1] - The report notes that the recent adjustments in Shanghai's real estate policies are expected to release pent-up demand, benefiting core area property companies and their supply chains, such as Longfor Group and China Resources Land [10] - The Hong Kong government announced plans to issue licenses for stablecoin issuers and establish a committee focused on AI and industry development, which could benefit sectors related to digital assets and fintech [11]

【导读】美股大跌，IBM重挫超13%！金银大涨 道指成份股中，IBM跌13%，美国运通跌逾7%，领跌道指。 | 国际商业机器(IBM | 223.370 | -13.14% | | --- | --- | --- | | IBM.N | | | | 美国运通(AMERIC | 321.100 | -7.24% | | AXP.N | | | | VISA | 306.290 | -4.57% | | V.N | | | | 摩根大通(JPMOR( | 297.820 | -4.17% | | JPM.N | | | | 赛富时(SALESFOF | 178.180 | -3.77% | | CRM.N | | | | 耐克(NIKE) | 63.080 | -3.55% | | NKE.N | | | | 假#【MICROSOF】 | 384.470 | -3.21% | | --- | --- | --- | | MSFT.O | | | | 高盛集团(GOLDM | 892.803 | -3.19% | | GS.N | | | | 联合健康集团(UN | 282.435 | -2.61% | | UNH ...

银、原油、燃料油期货将震荡偏强 陶金峰 期货投资咨询从业资格号：Z0000372 邮箱：taojinfeng@gtht.com 【正文】 【声明】 本报告的观点和信息仅供风险承受能力合适的投资者参考。本报告难以设置访问权限，若给您造成不 便，敬请谅解。若您并非风险承受能力合适的投资者，请勿阅读、订阅或接收任何相关信息。本报告不构 成具体业务或产品的推介，亦不应被视为相应金融衍生品的投资建议。请您根据自身的风险承受能力自行 作出投资决定并自主承担投资风险，不应凭借本内容进行具体操作。 【期货行情前瞻要点】 通过宏观基本面分析和黄金分割线、水平线、日均线等技术面分析，预期 2026年 1月期货主力（连续）合约行 情走势大概率如下： 2026 年 1 月 28 日 股指期货将偏强震荡 黄金期货将再创历史新高 黄金、白 请务必阅读正文之后的免责条款部分 1 期 货 研 究 所 期货研究 、 期 货 行 情 前 瞻 研 究 通过宏观基本面分析和黄金分割线、水平线、日均线等技术面分析，预期今日期货主力合约行情走势大概率如 下： 期货品 种 主力合 约 趋势 阻力位 支撑位 重点备注 股指 IF2603 偏强震荡 4756 ...

美东时间1月27日（周二），美股三大指数涨跌不一。受科技股和芯片股提振，标普500指数和纳斯达克综合指数收涨；拖累道琼斯指数收跌，成份股联合 健康集团跌超19%。 道指收跌 截至收盘，标普500指数上涨0.41%，报6978.60点；纳斯达克综合指数上涨0.91%，报23817.10点；道琼斯指数下跌0.83%，报49003.41点。 隔夜美股市场，科技和芯片股走高，提振市场；联合健康集团大跌，拖累道指。国际金价继续攀升，原油价格同步上涨。此外，周三美股盘中，美联储将 宣布今年的首次政策决定，共同关注。 近日，美元指数持续下跌。美国总统特朗普释放美元贬值信号，表示并不担心美元下跌。 关税方面，美国贸易政策持续调整，对印度商品仍维持50%的关税税率，同时威胁将韩国部分商品的关税提高至25%，并要求韩国在数字事务上不要歧视 美国企业。贸易政策的不确定性可能加剧市场对贸易环境的担忧。 此外，周三美股盘中，美联储将宣布今年的首次政策决定。 费城半导体指数收于新高 费城半导体指数上涨2.40%。美光科技涨超5%，科天半导体、应用材料涨超4%，阿斯麦、台积电等均收涨。 据报道，美光科技宣布了一项价值240亿美元的投资计划 ...

【导读】隔夜美股三大指数涨跌不一，美元指数连日下跌 费城半导体指数上涨2.40%。美光科技涨超5%，科天半导体、应用材料涨超4%，阿斯麦、台积电等均收涨。 据报道，美光科技宣布了一项价值240亿美元的投资计划，将在新加坡建设一个新的存储芯片制造厂，以在全球严重短缺的情况下提高产量。新投资将在 未来十年内建立一个先进的晶圆制造工厂，有助于满足市场对NAND存储芯片日益增长的需求，而人工智能和以数据为中心的应用的兴起将为这一需求推 波助澜。美光表示，随着高带宽内存（HBM）成为公司新加坡制造布局的一部分，预计将出现NAND闪存与动态随机存取存储器（DRAM）生产协同效 应的机会。 隔夜美股市场，科技和芯片股走高，提振市场；联合健康集团大跌，拖累道指。国际金价继续攀升，原油价格同步上涨。此外，周三美股盘中，美联储将 宣布今年的首次政策决定，共同关注。 道指收跌 美东时间1月27日（周二），美股三大指数涨跌不一。受科技股和芯片股提振，标普500指数和纳斯达克综合指数收涨；拖累道琼斯指数收跌，成份股联合 健康集团跌超19%。 截至收盘，标普500指数上涨0.41%，报6978.60点；纳斯达克综合指数上涨0.91%，报 ...

Market Performance - The three major US stock indices closed mixed, with the Dow Jones down 0.83% at 49,003.41 points, the S&P 500 up 0.41% at 6,978.6 points, and the Nasdaq up 0.91% at 23,817.1 points [1] - Major European indices showed mixed results, with Germany's DAX down 0.07% at 24,916.7 points, France's CAC40 up 0.27% at 8,152.82 points, and the UK's FTSE 100 up 0.58% at 10,207.8 points [1] Sector Performance - Technology stocks generally rose, with Intel up over 3% and Amazon up over 2% [1] - Popular Chinese concept stocks had mixed performances, with TSMC up 1.67%, Alibaba up 0.78%, Pinduoduo up 0.05%, and Baidu up 1.00% [1] Commodity Prices - COMEX gold futures increased by 1.91% to $5,179.60 per ounce, while COMEX silver futures fell by 2.73% to $112.34 per ounce [1] - International oil prices rose collectively, with WTI crude oil up 3.2% at $62.57 per barrel and Brent crude oil up 2.98% at $66.71 per barrel [1] Currency and Bond Markets - The US dollar index fell by 1.34% to 95.7455, while the offshore RMB appreciated by 156.2 basis points to 6.9336 against the US dollar [1] - US Treasury yields were mixed, with the 2-year yield up 0.64 basis points at 3.596% and the 10-year yield up 2.79 basis points at 4.243% [1] - European bond yields rose collectively, with the UK 10-year yield up 2.8 basis points at 4.523% [1]

Group 1: Currency Market Dynamics - The US dollar index experienced a significant drop, reaching a near four-year low, influenced by Japan's finance minister reaffirming US-Japan coordination, which led to a short-term rise in the yen [4][5] - The dollar has weakened for four consecutive trading days, reflecting investor caution due to the unpredictability of US policies, including President Trump's threats regarding Greenland [6][7] - Analysts suggest that structural issues such as declining confidence in US trade and security policies, political polarization, and concerns over the Federal Reserve's independence may further depress the dollar [6][7] Group 2: US Stock Market Performance - The US stock market showed a stark contrast, with the Dow Jones Industrial Average dropping nearly 500 points, while the Nasdaq index rose approximately 1% and the S&P 500 increased by about 0.5% [9][10] - The decline in the Dow was primarily driven by a nearly 20% drop in UnitedHealth Group, which projected its first annual revenue contraction in over 30 years, raising concerns about the impact of proposed federal Medicare payment rate adjustments [10] - In contrast, technology stocks surged, with Micron Technology leading the gains after announcing a $24 billion investment in Singapore to expand manufacturing capabilities, expected to create around 1,600 jobs [11][12][13] Group 3: Precious Metals Market - Both gold and silver prices in the London spot market saw significant increases, with gold rising by 1.55% and silver by 3.93%, although COMEX silver futures experienced a notable decline of 6.31% [15]

【导读】美元突然崩跌，科技股大涨，道指大跌 中国基金报记者 泰勒 大家好，今晚继续关注海外市场的表现。 美元大跳水 1月27日晚间，美元指数大跳水，下跌至接近四年来的低点。 在日本财务大臣片山皋月重申日美协调立 场后，日元短线拉升，美元指数则加速下行。 美元已连续第四个交易日走弱，这轮疲软反映出投资者在美国政策反复无常之后的谨慎情绪，其中包括 美国总统特朗普威胁"接管格陵兰"。从更长期看，美联储独立性风险、预算赤字扩大、对财政挥霍的担 忧以及政治极化加剧等因素，都在拖累美元。 有分析师表示："美元面临的结构性拖累——对美国贸易与安全政策信心下降、美联储被政治化，以及 美国财政信誉恶化——可能会盖过相对中性的周期性美元环境，把美元进一步拉低。" 还有分析师称："本周十国集团货币期权的成交天量，印证了美元贬值正成为越来越多投资者认可的交 易主线。无论美联储的汇率核查是否所谓'海湖庄园协议'的开端，宏观交易员已自行判定，美元正步入 下行通道。" 美元最新一轮下跌也紧随"美国可能出手支撑疲弱日元"的迹象之后。市场再次猜测：是否会出现协同的 汇率干预，引导美元对关键贸易伙伴货币走低？交易员上周五的消息称，纽约联储曾联系 ...

专题：聚焦美股2025年第四季度财报 美国联合健康集团于本周二发布 2026 年调整后利润预期，该数值略高于分析师此前的预估。这一信号 表明，公司首席执行官斯蒂芬・赫姆斯利推行的医疗成本管控措施已开始显现成效。 赫姆斯利于去年 5 月重返首席执行官岗位，肩负着重塑投资者与消费者对这家医疗健康巨头信任的重 任。此前，联合健康集团深陷多事之秋，不仅遭遇高管遇刺事件、医疗成本飙升、联邦政府调查等多重 危机，还因保险行业的相关操作引发美国民众的不满。赫姆斯利上任后，正致力于带领公司走出这一困 境。 联合健康集团原本计划在 2026 年实现业绩回升，但公司同时表示，面向美国低收入群体的医疗补助 （Medicaid）业务复苏之路充满挑战，根源在于医疗服务的报销标准与实际成本不匹配。此外，公司还 缩减了面向老年人的联邦医疗保险优势计划（Medicare Advantage）相关产品的供给。 责任编辑：郭明煜 专题：聚焦美股2025年第四季度财报 美国联邦政府于本周一公布提案，计划明年将私营保险公司运营的联邦医疗保险优势计划的报销比例平 均上调 0.09%，这一增幅远低于华尔街的预期。 受此消息影响，哈门那、西维斯健康、联合 ...

《华尔街曰报》周一援引美国参议院某委员会的调查报告称，健康保险巨头联合健康集团曾采用激进手 段收集患者诊断信息，以此抬高其联邦医疗保险优势计划的赔付金额。 在盘前交易中，该公司股价下跌 1.4%，报每股 339.42 美元。 《华尔街曰报》指出，这份参议院报告并未提出正式建议，也未指控联合健康集团存在不当行为。 对于路透社的置评请求，该公司暂未予回应。 《华尔街曰报》周一援引美国参议院某委员会的调查报告称，健康保险巨头联合健康集团曾采用激进手 段收集患者诊断信息，以此抬高其联邦医疗保险优势计划的赔付金额。 在盘前交易中，该公司股价下跌 1.4%，报每股 339.42 美元。 《华尔街曰报》指出，这份参议院报告并未提出正式建议，也未指控联合健康集团存在不当行为。 对于路透社的置评请求，该公司暂未予回应。 责任编辑：郭明煜 责任编辑：郭明煜 ...