【环球网财经综合报道】近日，英伟达CEO黄仁勋在达沃斯论坛发表讲话指出，人工智能已开启人类历史上规模最大 的基础设施建设，总投入预计将达数万亿美元，目前需要更多的能源、土地和熟练工人。 黄仁勋还认为，AI不会简单地取代人类工作，而是会通过自动化任务创造更高价值的就业。 但据《卫报》近日发文称，摩根大通CEO杰米·戴蒙也在瑞士达沃斯世界经济论坛上表示，随着人工智能的推出，这家 华尔街金融机构在五年后可能会有更少的员工。他还提到："如果它对社会进展过快，政府和企业需要以协作的方式 共同介入，找到一种重新培训人员并逐渐过渡的方法。" 报道还提到，戴蒙认为地方政府应当使用支持工资、提供再培训、搬迁和提前退休的援助计划。 与此同时，高盛发布报告指出，AI基础设施建设正在推动PCB（印制电路板）和CCL（覆铜板）行业进入超级周期， 预计2026年AI服务器PCB与CCL市场将分别增长113%与142%。 ...

1. Report Industry Investment Ratings No specific industry investment ratings are provided in the report. 2. Core Views of the Report - Trump's statements on Greenland and other issues have led to changes in market risk preferences, affecting the trends of various assets such as the US dollar, gold, and US stocks [2][4][14]. - The A - share market has shown a trend of shock and upward movement, and the market sentiment has been repaired after the previous callback. The regulatory authorities' measures to cool the market are still ongoing [3][24][26]. - The prices of various commodities are affected by factors such as supply - demand fundamentals, geopolitical risks, and policy changes, showing different trends and investment opportunities [5][6][7]. 3. Summary by Directory 3.1 Financial News and Comments 3.1.1 Macro Strategy (Foreign Exchange Futures - US Dollar Index) - News: Trump reached a framework agreement on Greenland and will not impose tariffs on it. The US Supreme Court is cautious about Trump's attempt to remove Fed Governor Cook, and Trump hinted at the selection of the next Fed Chairman [12][13][14]. - Comment: Market risk preferences have rebounded, and the US dollar has rebounded. However, market volatility risks still exist [14]. - Investment advice: The US dollar index is expected to rise in the short term [15]. 3.1.2 Macro Strategy (Gold) - News: Trump stated that the US has no intention of using force to obtain Greenland and will not implement the original European tariff measures [16]. - Comment: Gold prices first rose and then fell. The short - term callback risk of precious metals has increased, but the long - term upward logic of gold remains unchanged [17][18]. - Investment advice: In the short term, the safe - haven sentiment has eased, precious metals face callback risks, and the gold - silver ratio is expected to rise [19]. 3.1.3 Macro Strategy (US Stock Index Futures) - News: Trump hinted at the selection of the next Fed Chairman, reached a "framework agreement" on Greenland with NATO, and the US Supreme Court is cautious about removing Fed Governor Cook [20][21][22]. - Comment: Geopolitical risks have eased, market risk preferences have improved, and the US stock market has repaired its previous decline and maintained high - level oscillations [22]. - Investment advice: The volatility of the US stock market will increase during the earnings season, and it is expected to oscillate at a high level [23]. 3.1.4 Macro Strategy (Stock Index Futures) - News: A - share indexes rose in shock, and the Ministry of Housing and Urban - Rural Development plans to implement the spot - housing sales system [24][25]. - Comment: Market sentiment has been repaired, trading volume has shrunk but the index has risen. The regulatory authorities' measures to cool the market are still ongoing. The strategy of buying on dips is better than chasing highs [26]. - Investment advice: Hold the long - position strategy for stock index futures [27]. 3.1.5 Macro Strategy (Treasury Bond Futures) - News: The central bank conducted 3635 billion yuan of 7 - day reverse repurchase operations, with a net investment of 1227 billion yuan [28]. - Comment: The rapid rebound of treasury bond futures is due to the alleviation of institutional concerns. However, it is difficult to chase the rise, and it is recommended to pay attention to short - selling opportunities on rallies [28][29]. - Investment advice: It is difficult to chase the rise, and it is recommended to pay attention to short - selling opportunities on rallies [30]. 3.2 Commodity News and Comments 3.2.1 Black Metal (Rebar/Hot - Rolled Coil) - News: Xingtai City launched an orange - level emergency response for heavy pollution weather [31]. - Comment: Steel prices are weakly oscillating. The fundamental pressure on finished products has increased, but the price decline space is limited in the short term [32]. - Investment advice: Adopt an oscillating mindset and consider inventory hedging on rallies [32]. 3.2.2 Black Metal (Coking Coal/Coke) - News: The price of coking coal in the Hebei market remained stable. Coke producers initiated the first price increase, but steel mills have not responded [33]. - Comment: The futures price is oscillating downward, and the spot price is rising. The supply is stable, and the demand for replenishment by downstream enterprises is strong, but the market trading activity has declined [33]. - Investment advice: In the short term, the spot price is supported, and the futures price is expected to oscillate [33]. 3.2.3 Agricultural Products (Pigs) - News: It is reported that Muyuan Co., Ltd. may be listed in Hong Kong as early as February [34]. - Comment: The main contract of live - hog futures has declined. The market is worried about the price decline after the Spring Festival, and the technical side shows a bear - dominated pattern [34][35]. - Investment advice: Hold the short - position established earlier and pay attention to the slaughter rhythm, frozen - product inventory changes, and policy reserve purchase trends [35]. 3.2.4 Agricultural Products (Soybean Oil/Rapeseed Oil/Palm Oil) - News: The production of Malaysian palm oil from January 1 - 20 decreased by 16.06% month - on - month, and Indonesia revoked the licenses of 28 companies [36][37]. - Comment: The oil market is generally strong, with palm oil leading the rise. The decline in palm oil production has maintained the expectation of inventory reduction in January [37]. - Investment advice: The supply pressure of Malaysian palm oil is alleviating, and the Indonesian government's measures have increased market concerns. The palm oil price is still supported, but attention should be paid to the prices of crude oil and US soybean oil [38]. 3.2.5 Non - ferrous Metals (Lead) - News: On January 20, the LME 0 - 3 lead was at a discount of 46.32 US dollars/ton, and the import volume of lead ore and concentrates in December increased by 35.8% month - on - month [39]. - Comment: The lead price oscillated downward. The fundamentals are weakening, the inventory is expected to rise, and the demand feedback at high prices is negative [39][40]. - Investment advice: For single - side trading, pay attention to short - selling opportunities on rallies; for arbitrage, adopt a wait - and - see approach [41]. 3.2.6 Non - ferrous Metals (Zinc) - News: Teck Resources' zinc concentrate and zinc ingot production in 2025 were at the high end of the guidance range, and on January 20, the LME 0 - 3 zinc was at a discount of 43.57 US dollars/ton [42][43]. - Comment: The zinc price oscillated and stabilized. The fundamentals of LME zinc are weakening, and the social inventory is expected to rise before the Spring Festival. The market sentiment is stable, but the upward drive is limited [43]. - Investment advice: For single - side trading, short - term wait - and - see; for arbitrage, wait - and - see [43]. 3.2.7 Non - ferrous Metals (Lithium Carbonate) - News: The Democratic Republic of the Congo opened its cobalt and copper mines to the US, and there are disturbances in the lithium ore market [44]. - Comment: The price of lithium carbonate rose sharply. There are continuous disturbances in the ore end, and there are expectations of supply reduction due to the maintenance of lithium salt plants. The downstream demand is weak, and the key lies in price transmission [44][45]. - Investment advice: The capital game in the lithium carbonate futures market is stronger than the fundamental game. Pay attention to long - buying opportunities after the position and volatility stabilize [46]. 3.2.8 Non - ferrous Metals (Copper) - News: The Democratic Republic of the Congo opened its mines to the US, Vale aims to achieve an annual copper production capacity of 1 million tons, and BHP Billiton raised the production guidance of the Escondida mine [47][48][49]. - Comment: The macro - sentiment is highly complex, and there is a risk of repeated expectations. The domestic inventory is rising, and the overseas squeeze - out risk has decreased [50]. - Investment advice: For single - side trading, the market is expected to oscillate widely, and short - term wait - and - see; for arbitrage, wait - and - see [50]. 3.2.9 Non - ferrous Metals (Tin) - News: The Ministry of Industry and Information Technology stated that artificial intelligence has injected strong impetus into industrial economic growth, and on January 20, the LME 0 - 3 tin was at a discount of 92 US dollars/ton [51][52]. - Comment: The inventory of SHFE tin decreased, and the LME tin inventory increased. The processing fee of smelters rose, demand is weak, and the inventory replenishment may be restricted by high prices [52]. - Investment advice: The price trend divergence increases, and it is expected to oscillate widely in the short term. Pay attention to the supply recovery and consumption improvement [52]. 3.2.10 Energy and Chemicals (Crude Oil) - News: India's Reliance Group plans to buy Russian oil in February and March, and the API crude oil inventory increased [53][54]. - Comment: Oil prices rose. The IEA raised the global demand growth forecast, but the market still faces a large surplus. The geopolitical situation has eased slightly, and the import of Russian oil by India will resume [54]. - Investment advice: Oil prices are expected to oscillate in the short term [55]. 3.2.11 Energy and Chemicals (Liquefied Petroleum Gas - LPG) - News: The price of LPG in the South China market continued to decline, and the US issued an emergency warning of extreme cold [56]. - Comment: The domestic and foreign prices rose slightly due to the sharp rise in HH natural gas prices. The market is worried about the short - term supply and export of US LPG [56]. - Investment advice: The overseas price is expected to be strong in the near term, and the domestic price may follow passively [57]. 3.2.12 Energy and Chemicals (Asphalt) - News: The capacity utilization rate of domestic heavy - traffic asphalt decreased [57]. - Comment: The asphalt market is in a pattern of weak supply and demand and cost game. The spot price is expected to be stable, and the low - price resources are decreasing [57]. - Investment advice: The futures market is expected to oscillate before the Spring Festival, and pay attention to cost changes [58]. 3.2.13 Energy and Chemicals (Styrene) - News: In December 2025, China's styrene export volume decreased by 30.86% month - on - month and increased by 382.71% year - on - year [59]. - Comment: The styrene price fluctuated greatly. The market is in an emotional game stage, and the previous upward drive has been challenged [59]. - Investment advice: If there is no new supply - side disturbance, the styrene market may adjust [60]. 3.2.14 Energy and Chemicals (Soda Ash) - News: The price of soda ash in the South China market was stable on January 21 [61]. - Comment: The soda ash futures price fell, the supply is increasing, and the downstream demand is weak. The soda ash factory's inventory is expected to continue to accumulate [61]. - Investment advice: In the expansion cycle, take a bearish view of soda ash in the medium term, and consider short - selling long - term contracts on rallies [62]. 3.2.15 Energy and Chemicals (Float Glass) - News: The price of float glass in the Shahe market decreased on January 21 [63]. - Comment: The glass futures price continued to fall, the inventory replenishment enthusiasm of traders weakened, and the supply - demand situation of the 05 contract is still in surplus [64]. - Investment advice: In 2026, the FG contract is expected to oscillate between 900 - 1250 yuan/ton. Short - sell on rallies. Pay attention to potential supply - side changes [64].

Core Insights - The Chinese government aims for a 5.9% year-on-year growth in industrial added value by 2025, with the manufacturing sector expected to maintain its position as the world's largest for 16 consecutive years [1][2] - The industrial and information technology sectors are projected to contribute over 40% to economic growth, reinforcing their role as a stabilizing force in the economy [1] Group 1: Industrial Growth - The added value of major equipment manufacturing and high-tech manufacturing is expected to grow by 9.2% and 9.4% year-on-year, respectively, outpacing overall industrial growth by 3.3 and 3.5 percentage points [1] - The government emphasizes the importance of supporting industrial provinces to drive stable industrial economic growth [1] Group 2: Emerging Industries - Significant breakthroughs in major equipment such as ultra-large diameter shield machines and heavy-duty gas turbines are noted, with artificial intelligence providing strong momentum for industrial growth [1] - The first phase of 6G technology trials has resulted in over 300 key technology reserves, indicating a focus on nurturing emerging pillar industries [1] Group 3: Future Industries and SMEs - The government plans to implement strategic major technology projects and support the establishment of future industry pilot zones, aiming to create a competitive environment for future industries nationwide [2] - The competitive ecosystem for key sectors like new energy vehicles and photovoltaics continues to improve, with 5G and gigabit optical networks integrated into 91 out of 97 national economic categories [2] - Over 140,000 specialized and innovative small and medium-sized enterprises (SMEs) have been cultivated, with high-tech enterprises reaching 504,000 [2] Group 4: Policy and Support for SMEs - A plan to promote SME development during the 14th Five-Year Plan period has been established, focusing on ensuring timely payments to SMEs and preventing new debts [2] - The government aims to revise SME classification standards to enhance the precision and effectiveness of policy support [2]

上天天基金APP搜索777注册即可领500元券包，优选基金10元起投！限量发放！先到先得！ 昨夜今晨，又有很多大事发生。 美国三大股指全线收涨，中国资产大幅上涨，大型科技股多数上涨。在达沃斯论坛上，特朗 普明确表示，不会武力夺取格陵兰岛；黄仁勋称AI是"人类历史最大规模基建"的基石，刺激 芯片股普遍上涨。 美国三大股指全线收涨 美国三大股指全线收涨，道指涨1.21%，报49077.23点；标普500指数涨1.16%，报 6875.62点；纳指涨1.18%，报23224.82点。 安进涨3.81%，英伟达涨2.87%，耐克涨2.80%，领涨道指成份股。 | 序号 名称 | | 代码 | 现价 | | 涨跌 涨跌幅▼ | 年初至今 | 时间 | | --- | --- | --- | --- | --- | --- | --- | --- | | 1 | 安进(AMGEN) | | AMGN 343.600 | 12.600 | 3.81% | 4.98% | 16:00 | | 2 | 英伟达(NVIDIA) | | NVDA 183.180 | 5.110 | 2.87% | -1.78% | 16:00 | ...

美联储主席候选人已经缩 (企业资讯) 上海證券報 (C 小中国证券网 (市场回顾) 日韩股市1月22日大幅高牙 美东时间周三,美国股市 均涨超1% 现货黄金盘中一度刷新历 新 > 社 主管主办 (国际宏观) 美国总统特朗普21日称, 加征关税的措施 随着隔夜日本超长期国债收益率短暂回落、40年期日债重新跌回4%下方，美债长端压力明显减轻。10年期美债收益率下行4.7个基点，30年期收益率下行5 个基点。 现货黄金盘中一度刷新历史新高逼近4900美元，随后回落，但最终仍收涨1.2%，站稳在4800美元附近。现货白银跌1.3%，盘中一度跌至90关口。 苹果将对Siri进行升级改 下半年推出的聊天机器人 马斯克推进SpaceX的IPO 【市场回顾】 1月22日，日韩股市大幅高开，日经225指数开盘上涨1.0%，报53327.39点，受汽车和金融类股带动。韩国综合股价指数（KOSPI）开盘上涨1.6%，报 4987.06点。 美东时间周三，美国股市大幅反弹，收复前一日大跌的失地，三大指数均涨超1%。截至收盘，道琼斯指数涨1.21%，报49077.23点；标普500指数涨1.16%， 报6,875.62点；纳斯达克指数 ...

工业和信息化部副部长 张云明：累计建成3.5万余家基础级、8200余家先进级、500余家卓越级、15家领 航级智能工厂。工业降碳、减污、扩绿、增长协同推进。工业经济实现质的有效提升和量的合理增长。 新质生产力成为推动工业经济增长的重要力量。2025年，我国人工智能核心产业规模预计突破1.2万亿 元；累计发布人形机器人产品超330款；6G第一阶段技术试验形成了超300项关键技术储备，近期已启 动第二阶段技术试验，科技创新和产业创新正深度融合。 "十五五"时期，我国将实施发展制造业新技术新产品新场景大规模应用示范行动，创建国家新兴产业发 展示范基地，从供需两端发力，加快培育新兴支柱产业，推动工业经济不断向新向优发展。 在国务院新闻办公室1月21日举行的发布会上，工业和信息化部负责人表示，2025年我国工业经济全年 主要目标任务顺利完成，新动能不断涌现，工业和信息化领域对经济增长的贡献超四成。 2025年，我国先后出台新一轮十大重点行业稳增长工作方案，支持工业大省挑大梁，有力支撑工业经 济"稳"的态势持续巩固。全年规模以上装备制造业、高技术制造业增加值同比分别增长9.2%、9.4%， 增速高于规模以上工业3.3个、 ...

（原标题：今年前20天 韩国出口半导体总金额暴增超70%！） 芯片传来重磅信号。 据最新数据，今年前20天，号称全球经济"金丝雀"的韩国出口半导体总金额达107.3亿美元（约合人民 币747亿元），同比大幅增长超70%。这预示着，在AI（人工智能）浪潮下，全球半导体需求仍非常强 劲。受此影响，存储芯片巨头三星电子股价直线拉升，21日盘中一度大涨超3%。 昨晚，芯片股普遍上涨，费城半导体指数涨3.18%，刷新历史新高，英特尔涨超11%，超威半导体涨逾 7%，美光科技涨超6%，ARM涨逾6%，微芯科技涨超4%，博通跌逾1%。 在此之前，美股存储芯片概念股周二也全线飙涨，闪迪一度暴涨超10%。有机构分析指出，本轮存储芯 片涨价并非短期市场情绪驱动，而是由"先进制程产能受限"与"AI服务器需求刚性增长"双重因素共同作 用，其持续性明显强于历史周期。 暴增超70% 当地时间1月21日，韩国海关部门披露的数据显示，2026年1月1日至20日期间，韩国出口额达到363.6亿 美元，同比增长14.95%；韩国进口额为369.8亿美元，同比增长4.2%，贸易逆差约为6亿美元。 从产品类别看，本月前20天，韩国半导体出口额达10 ...

一、国际新闻 国际市场方面，美国天然气期货价格出现显著上涨，盘中涨幅一度扩大至30%，现报5.083美元/百万英 热，此前曾分别录得29%、28%及27%的涨幅，价格逐步攀升至5.043美元、5.009美元和4.963美元/百万 英热。 贵金属市场则呈现下跌态势，现货黄金和纽约期金价格持续下探，现货黄金先后失守4820、4810、 4800、4790美元/盎司，日内跌幅分别达0.25%、0.44%、0.64%、0.86%；纽约期金同步失守上述关口， 日内跌幅为0.36%、0.57%、0.78%、0.98%。 现货白银和纽约期银同样承压，现货白银失守93、92、91美元/盎司，日内跌幅分别为1.68%、2.93%、 3.74%；纽约期银对应失守上述关口，日内跌幅为1.79%、2.97%、3.87%。 美股市场表现强劲，三大指数均收涨超1%，道指涨1.21%，纳指涨1.18%，标普500指数涨1.16%；盘中 道指一度涨1.06%至49000.391点，纳指涨1.09%至23204.431点，标普500指数涨1.04%至6867.240点。 个股方面，英特尔涨超11%，创四年来最高水平；AMD涨8.3%，闪迪涨超 ...

转自：新华财经 【资讯导读】 •IMF：全球经济小幅上修 AI投资成关键推力 •特朗普暗示美联储主席人选即将敲定 •墨西哥坚持向古巴供油 •印尼央行维稳利率 强化干预捍卫本币 【市场资讯】 •国际货币基金组织（IMF）上调2026年全球经济增长预期至3.3%，并预计2027年将小幅回落至3.2%。 报告指出，人工智能等技术相关投资激增正推动全球经济扩张。但IMF同时警告，贸易紧张局势若进一 步升级，可能加剧不确定性并对增长构成下行风险。 •美国总统特朗普周三表示，美联储主席候选人已"可能只剩一位"，虽未透露具体名字，但称赞贝莱德 高管里德尔和前美联储理事沃什均为合适人选。他强调希望新任主席能效仿格林斯潘的政策风格。 •墨西哥总统辛鲍姆宣布将继续向古巴输送原油，称此举既履行既有合同义务，也体现对古巴人民的人 道支持，旨在缓解美国长期经济封锁对该国造成的压力。 •面对持续贬值压力，韩国总统李在明周三公开表示，韩元兑美元有望在未来一至两个月企稳于1400附 近。此番表态迅速提振市场信心，当日韩元盘中上涨0.7%至1468.00。他强调，韩元走弱属全球趋势， 相较日元表现仍相对稳健。 •印尼央行1月21日决定维持基准 ...

分析师：张刚 登记编码：S0730511010001 zhanggang@ccnew.com 021-50586990 晨会聚焦 资料来源：聚源，中原证券研究所 -9% -2% 5% 12% 19% 26% 32% 39% 2025.01 2025.05 2025.09 2026.01 上证指数 深证成指 | 国内市场表现 | | | | | --- | --- | --- | --- | | 指数名称 | | 昨日收盘价 | 涨跌幅(%) | | 上证指数 | | 4,116.94 | 0.08 | | 深证成指 | | 14,255.12 | 0.70 | | 创业板指 | | 2,022.77 | -0.47 | | 沪深 | 300 | 4,723.07 | 0.09 | | 上证 | 50 | 2,443.97 | -0.52 | | 科创 | 50 | 891.46 | 0.14 | | 创业板 | 50 | 1,924.26 | -0.67 | | 中证 | 100 | 4,630.50 | 0.26 | | 中证 | 500 | 8,340.11 | 1.12 | | 中证 | 1000 | ...