大家好，距离明天国内市场开市还有11个小时。 春节假期期间，全球宏观面不平静，美国关税政策突变、地缘冲突发酵等重大事件接连发生，引发主要资产价格剧烈波动，这为节后国内市场开盘增添了 几分不确定性。 春节假期间国际市场重大事件及外盘品种涨跌如何影响国内市场？哪些品种有补涨的机会？交易者该如何应对？我们来看看专业人士的观点。 | 合约 | 2.13 | 2.23 | 价格波动 | 价格 | | --- | --- | --- | --- | --- | | | 国内收盘 | 18时价格 | | 波动比例 | | CMX型 | 77.135 | 86.505 | 9.37 | 12.15% | | 美原油 | 62.83 | 66.18 | 3.35 | 5.33% | | 布伦特油 | 67.54 | 71.01 | 3.47 | 5.14% | | 美豆油 | 57.26 | 59.72 | 2.46 | 4.30% | | CMX+ | 4987.5 | 5170.8 | 183.3 | 3.68% | | 日胶 | 347.1 | 358.3 | 11.2 | 3.23% | | 美白糖 | 13.53 | ...

Group 1 - The core viewpoint of the articles highlights the significant role of AI in transforming consumer behavior during the 2026 Spring Festival, with a shift from bulk purchasing to instant retail facilitated by AI technology [1][3] - Online consumption saw a remarkable increase, with nearly 200 million "one-sentence orders" placed, indicating that one in ten users utilized AI for their purchases [1] - Instant retail orders surged, with over 3,000 tons of eggs and more than 100 million cups of beverages ordered through AI, showcasing the efficiency and convenience brought by AI in the shopping experience [1] Group 2 - There was a notable rise in demand for green, smart, and healthy products during the Spring Festival, with user visits for robot products increasing over fourfold and AI-related product sales doubling [2] - Offline consumption also thrived, with Douyin reporting a 216% increase in group meal package orders and a 66% rise in group buying sales in third-tier cities compared to the previous year [2] - The introduction of AI services like Meituan's local life AI assistant "Wen Xiaotuan" significantly enhanced consumer planning for leisure activities, with millions of users benefiting from its services during the holiday [2]

Group 1 - The article highlights four major signals that are expected to support the market as it opens for the Year of the Horse, including continuous policy support, strong consumer recovery, clear industry trends, and favorable external market conditions [4][6][9] - Policy measures are focused on equipment upgrades, consumer goods exchange programs, and significant support for new infrastructure, digital economy, and renewable energy sectors, which are expected to boost economic recovery [4] - Consumer spending has shown remarkable resilience, with record box office revenues during the Spring Festival, a doubling in travel bookings, and a nearly 500% increase in duty-free shopping in Hainan, alongside over 20% growth in dining and accommodation transactions [4] Group 2 - The article notes that the global market has been performing well, with significant gains in indices such as the Hang Seng Index and the Nikkei 225, which rose over 4%, creating a positive environment for the A-share market [6][7] - Commodity markets have also seen increases, with LME copper up 4%, London silver up 3%, and Brent crude oil rising 2.3%, providing support for cyclical sectors [7] Group 3 - The investment strategy for the Year of the Horse emphasizes a cautious approach, focusing on structural opportunities rather than broad market gains, with a prediction of a stable opening and active sector performance [9][10] - Four main investment themes are identified: the AI industry chain, semiconductors and advanced manufacturing, consumer recovery sectors, and cyclical resources, with AI being the strongest focus due to its recent performance [10][11][12] - The article advises against high-risk strategies, recommending a focus on core stocks within the identified themes and careful monitoring of key indicators such as trading volume and foreign capital inflows [13][14]

Core Insights - Flywire Corporation has appointed Patrick Blanc as Chief Technology Officer to lead its global engineering and technology strategy, enhancing its AI-first engineering approach and scaling to meet client demand [1][2][3] Company Overview - Flywire is a global payments enablement and software company that combines a proprietary global payments network with next-gen payments platform and vertical-specific software to facilitate complex payments for clients [4] - The company supports over 4,900 clients with diverse payment methods in more than 140 currencies across 240 countries and territories [5] Leadership Changes - Patrick Blanc's appointment comes as David King transitions to a new role as Chief Product Officer and Co-President of Global Education, highlighting Flywire's commitment to product innovation and scaling software capabilities [3]

全球资产：再平衡仍在继续 我们在春节前的周报《高切低与简单题》指出本轮市场的高切低建立在内外协同复苏的基础之上，同时随着 AI 交易 逐渐步入第二阶段，科技链分化可能是未来的常态。从春节期间（2026/2/16-2026/2/20）全球市场表现来看，全球风 险资产趋于上涨，但内部表现分化：（1）全球权益风格延续再平衡：以工业、金融、能源为代表的板块继续获得市场 青睐，在工业金属高位震荡消化交易拥挤时，巴西为代表的资源国股市开始高歌猛进；（2）科技资产内部分化：随着 AI 代码扫描工具的推出，以网络安全为代表的软件股继续遭遇抛售，而以存储为代表的真正面临供需紧缺的细分方向 则出现强劲反弹。市场的焦点不再是 AI 是否是泡沫，而是当 AI 从主题走向宏观因素后，积极寻找产业影响和真正主 要矛盾与紧缺环节。商品市场来看，原油表现最为亮眼，短期美伊局势再起波澜推升地缘溢价，而中期维度下"石油 美元"循环重要性的提升或为油价上行提供支撑。 制造业周期的进一步抬头 本周美国公布 2025Q4 GDP，尽管整体增速低于预期，但拖累主要来自政府支出扰动，而以 AI 为代表的投资端则表现 亮眼。更值得关注的是，当前非 AI 和 ...

中信建投证券研报认为，春节期间全球股市整体强势，无重大风险事件，当前市场情绪仍然高涨，节后 A股有望开启新一轮上行。行业配置上继续坚持"科技+资源品"双主线。其中科技主线以AI、人形机器 人（核心股）、新能源和创新药为核心，资源品主线以贵金属（核心股）、石油石化、基础化工（核心 股）为核心。重点关注板块包括：半导体、AI（光通信、液冷、电子布、高端铜箔等）、机械、有 色、石油石化、基础化工、电力设备（储能、特高压、光伏、固态电池等）、创新药等。 股票频道更多独家策划、专家专栏，免费查阅>> 责任编辑：安东 ...

Experienced AI and enterprise IT operations leader joins Company to accelerate scalable growth, strengthen security architecture, and advance next-generation cyber software innovation Scottsdale, Ariz., Feb. 23, 2026 (GLOBE NEWSWIRE) -- CISO Global, Inc. (NASDAQ: CISO) (“CISO Global” or the “Company”), a provider of AI-powered cybersecurity software and compliance services, today announced the appointment of Dhaval Damania as Executive Vice President of Cybersecurity & IT. This appointment reinforces its co ...

Investment Rating - The report maintains a "Hold" rating for the communication industry [2] Core Insights - The communication industry is experiencing robust growth across the entire value chain, with a high level of activity in the computing power sector [1][5] - Domestic advancements include the development of 5G-A technologies and the integration of AI applications, indicating a strong focus on enhancing computational resources [1][5] - Internationally, collaborations such as the partnership between STMicroelectronics and AWS highlight the industry's shift towards AI and cloud computing, with significant investments in data center infrastructure [1][5] Summary by Sections Domestic Developments - The report emphasizes the progress in 5G-A technologies and the ongoing research in 6G, focusing on seamless integration between optical and wireless communication systems [1] - The demand for computational resources is increasing, indicating that the computing power industry remains in a high-growth phase [5] International Collaborations - Notable partnerships, such as META's agreement with NVIDIA, showcase the industry's commitment to advancing AI capabilities and enhancing computational efficiency [1] - The construction of data centers in the U.S. by major companies like Facebook and OpenAI reflects ongoing investments in infrastructure to support growing computational needs [1][5]

Core Insights - Based, a Web3 trading and payment application built on Hyperliquid infrastructure, has completed a $11.5 million Series A funding round led by Pantera Capital, with participation from Coinbase Ventures and Wintermute Ventures [1] - The funding round features an equity investment with token warrants, although the valuation remains undisclosed [1] - Based has over 100,000 registered users and 30,000 monthly active users, with a cumulative trading volume of approximately $40 billion and total revenue nearing $14 million [1] - The company plans to expand its AI-driven "agentic commerce" business and enter the North American market [1]

债 券 研 春节期间不可错过的事情 [Table_Authors] 唐元懋(分析师) 国内篇 本报告导读： 经济复苏节奏延续温和，呵护债市偏多环境，但需关注海外风险偏好回升带来的扰 动。 投资要点： 风险提示：流动性超预期收紧；经济修复大幅加速；债券供给放量。 | | | | | 0755-23976753 | | --- | --- | | | tangyuanmao@gtht.com | | 登记编号 | S0880524040002 | | | 孙越(分析师) | | | 021-38031033 | | | sunyue6@gtht.com | | 登记编号 | S0880525080004 | | | 汤志宇(分析师) | | | 021-38031036 | | | tangzhiyu@gtht.com | | 登记编号 | S0880525070031 | | | 杜润琛(分析师) | | | 021-38031034 | | | durunchen@gtht.com | | 登记编号 | S0880525110004 | [Table_Report] 相关报告 央行视角下的货币财政协同与存款搬 ...