【导读】恒指站上27000点，有色、消费、汽车等板块走强；光通信领域利好不断，港股长飞光纤光缆 盘中涨超19% 中国基金报记者 晨曦 大家好！最后一天春节假期，一起来关注港股上午的市场行情和资讯~ 2月23日上午，港股市场高开高走，主要指数集体走高，恒生科技指数盘中一度涨超4%。截至午间收 盘，恒生指数大涨604.53点，涨幅为2.29%；恒生科技指数涨3.32%，恒生国企指数涨2.5%。 板块方面，上午港股有色金属、可选消费、硬件设备、汽车与零配件、半导体等板块集体走强，纸业、 GEO等概念股下跌。 | | | Wind香港二级行业指数 | | | --- | --- | --- | --- | | 有色金属 4.76% | 可选消费零售 3.15% | 硬件设备 2.98% | 汽车与零配件 2.91% | | 化工 2.58% | 纺织服装II 2.44% | 传媒 2.40% | 电气设备 2.28% | | 国防军工 | 半导体 | 公用事业工 | 房地产投资信托 | | 2.08% | 2.08% | 1.01% | 0.90% | | 家电Ⅱ 0.80% | 环保工 0.70% | 交通运输 0 ...

| | 恒生指数[HSI] 2026-02-23 12:00 | | | | 价格 = 均线 | | | --- | --- | --- | --- | --- | --- | --- | | 27204.60 | | | | | | 3.00 % | | 27006.78 | | | | | | 2.25 % | | 26808.97 | | | | | | 1.50 % | | 26611.16 | | | | | | 0.75 % | | 26413.35 | | | | | | 0.00 % | | 26215.54 | | | | | | 0.75 % | | 26017.73 | | | | | | 1.50 % | | 25819.92 | | | | | | 2.25 % | | 25622.10 | 09:30 | 11:00 | 13:30 | 14:30 | | 3.00 % | | 2.20亿 | | | | | 16:00 | | | 1.65亿 | | | | | | | | 1.10亿 | | | | | | | | 5494万 0 | I light model in the ...

Market Overview - The Hang Seng Index rose by 2.29% to 27,019.21, while the Hang Seng Tech Index increased by 3.32% to 5,384.52, indicating a significant recovery in market sentiment [2][8] - Technology, internet, consumer electronics, and lithium battery sectors led the gains, with strong performances from companies like Meituan, Tencent, and Alibaba [1][2] Sector Performance - The tech sector showed robust growth, with Meituan up nearly 7%, and JD.com, SMIC, and Hua Hong Semiconductor all rising over 5% [2][8] - Conversely, the AI large model sector experienced a downturn, with companies like Zhiyun and MINIMAX seeing declines of over 23% and 10%, respectively [4][10] Ant Group Developments - Ant Group reported that its core AI business saw significant growth during the Spring Festival, with the "AI Payment" user count surpassing 100 million, marking it as the first AI-native payment product to achieve over 100 million in both transaction volume and user count [4][9] - The Ant Group's health app, Aifuku, also crossed the 100 million user mark, with 52% of new users coming from third-tier cities and below [4][9] Commodity Market Insights - Precious metals saw a notable increase, with international spot silver rising by 3.8% to $87.82 per ounce, and gold increasing by 1.2% to $5,168 per ounce [7][14] - The chairman of the Hong Kong Gold Exchange indicated that geopolitical tensions, particularly between the US and Iran, have contributed to rising gold prices, which are expected to challenge $6,000 per ounce in the coming quarters [14] Zhiyun's Challenges - Zhiyun issued an apology regarding its GLM Coding Plan, acknowledging three main errors: insufficient transparency, slow rollout of GLM-5, and poor design of the upgrade mechanism for existing users [5][12] - The company is currently managing high demand and has opened the Max user tier fully, while Pro users may face limitations during peak times [12]

Group 1: Financial Derivatives - The overall macro environment is optimistic, with low inflation data stimulating interest rate cut expectations, leading to increased liquidity and risk appetite in the markets [1][2] - U.S. and Iran negotiations are ongoing, with tensions remaining due to unresolved nuclear issues, while U.S.-Russia-Ukraine talks are gradually cooling down [1] - Recommendations include a cautious approach post-holiday, suggesting to observe market movements before making significant investments [1] Group 2: Precious Metals - During the Spring Festival, precious metals experienced significant volatility, initially declining before rebounding due to U.S. GDP growth data falling short of expectations [2][3] - The announcement of new tariffs by Trump on global imports has raised concerns about trade conflicts and economic downturns, increasing demand for safe-haven assets like gold and silver [2] - Silver saw a notable increase of nearly 8% in a single day, indicating strong market reactions to geopolitical developments [2] Group 3: Shipping Index (European Route) - Shipping rates on the European route remained stable during the holiday, with no new positions taken by major shipping companies [3] - The overall sentiment in the market is positive due to a rise in commodity prices, although the shipping rates are expected to face downward pressure in the coming months due to seasonal demand fluctuations [3] Group 4: Non-Ferrous Metals - Copper prices fluctuated between $12,500 and $13,100 per ton during the holiday, influenced by weak domestic demand and rising inventories [4] - Aluminum prices increased by approximately 1.34% during the holiday, with inventory levels in China expected to reach a five-year high post-holiday, potentially pressuring prices [5] - Zinc prices remained stable, with expectations of a slight rebound in processing fees as domestic mines resume production [6] Group 5: Energy and Chemicals - Oil prices rose over 5% during the holiday due to geopolitical tensions, with U.S. crude oil inventories decreasing unexpectedly [16] - PX prices increased by $25 per ton, driven by higher oil prices and strong demand from the polyester sector, although overall supply and demand are expected to weaken in the first quarter [17][18] - Ethylene glycol prices are anticipated to face downward pressure due to high port inventories, despite expectations of improved demand in the second quarter [19] Group 6: Agricultural Products - U.S. soybean prices fluctuated, influenced by trade expectations and supply concerns from Argentina, with a slight overall increase of about 1.67% [35] - Palm oil prices rose by approximately 1.89% during the holiday, but are expected to face downward pressure as the traditional demand season approaches [36] - Corn prices are expected to remain stable post-holiday, with supply pressures from increased market activity and demand from deep processing enterprises [37]

Group 1 - The article highlights the introduction of a dedicated phone booking service for elderly travelers by the railway department, enhancing accessibility and convenience during the Spring Festival travel season [1] - There is a notable increase in ticket bookings for travelers aged 60 and above, with a reported growth of over 35% in flight reservations during the Spring Festival, particularly to first-tier and new first-tier cities [5] - The railway authorities have implemented new measures allowing travelers to cancel mistakenly purchased tickets without incurring fees if done within 30 minutes of payment and more than 4 hours before departure [4] Group 2 - The article discusses the trend of "reverse reunion," where individuals choose to celebrate the New Year in urban areas rather than returning to their hometowns, reflecting a shift in traditional travel patterns [6] - Various cities are providing support for workers who remain in urban areas during the holiday, including free housing and transportation subsidies, to ensure they can celebrate the New Year comfortably [8] - The use of technology, such as AI and virtual communication tools, has enhanced the emotional connection during the holiday, allowing families to maintain traditions despite physical distance [12][15]

Group 1 - During the Spring Festival, the user visits for robot products increased by over 4 times year-on-year [1] - The number of users searching for the keyword "robot" grew 25 times [1] - The popularity of humanoid robots featured in the Spring Festival Gala saw user interest surge by over 100 times, while quadruped and exoskeleton robots also experienced multiple times increase in browsing volume [1] Group 2 - AI-related product sales doubled year-on-year during the same period [1] - Categories such as smartphones, laptops, toys, and smart glasses attracted the most consumer attention [1]

Core Insights - Ant Group's AI business has seen significant growth during the Spring Festival, with its "AI Payment" user base surpassing 100 million and the "Ant Aifu" app also exceeding 100 million users, marking a breakthrough in AI application during the holiday season [1][3]. Group 1: AI Payment and User Growth - During the Spring Festival, "AI Payment" on Alipay experienced explosive growth, with payment transactions exceeding 120 million on February 12, and the user count officially surpassing 100 million, making it the world's first AI-native payment product to achieve both milestones [3]. - The "Ant Aifu" app has rapidly gained popularity, becoming the largest health AI app globally, with its user base also exceeding 100 million, driven by promotional activities and visibility during the Spring Festival [3][4]. Group 2: Strategic Differentiation - Ant Group's AI strategy focuses on specialized sectors such as payment and healthcare, avoiding competition in more saturated markets, which aligns with its long-term business logic of addressing specific societal needs while building commercial barriers [4]. - The recent advancements in Ant Group's AI capabilities, including the release of the 2.5 version of the Bailing model and various flagship models, have supported breakthroughs in application layers [4]. Group 3: Future Outlook - The performance during the 2026 Spring Festival reflects the acceleration of Ant Group's AI strategy, which aims to deepen its presence in the healthcare market while establishing a robust payment infrastructure for the emerging Agent economy, thereby creating a more certain commercial landscape [5].

RT Saritha Rai (@SarithaRai)India's Tricky AI Balancing ActRead my take on the New Delhi AI Summit in the Forecast, Bloomberg's Weekend newsletter.(If you want to sign up for the newsletter read by 250,000 subscribers, click herehttps://t.co/A8H11t1931)https://t.co/uVYYZFclpv#AI https://t.co/RXd5nXsvis ...

Group 1: Market Overview - The Hang Seng Index rose by 2.29%, gaining 604 points to close at 27,017 points, while the Hang Seng Tech Index increased by 3.32% [1] - The Hong Kong stock market saw a morning trading volume of 106.5 billion HKD [1] Group 2: Optical Communication Sector - Optical communication stocks led the gains, with Longi Fiber Optics (06869) up by 15.77%, and orders for AI high-speed optical modules extending into Q4 [1] - Huizhou Technology (01729) rose over 5%, and Cambridge Technology (06166) increased by 7% [1] - Woer Cable (09981) gained 6.96% after being included in the Stock Connect list, driven by rapidly growing demand for high-speed copper cables [1] Group 3: Precious Metals Sector - The precious metals sector saw significant gains, with the International Gold Group (03939) rising over 6% to reach a historical high, expecting a year-on-year profit increase of up to 160% [1] - Zijin Gold International (02259) also rose by over 7% [1] Group 4: Technology Sector - Tech stocks rebounded, with Meituan-W (03690) increasing by over 6%, as institutions believe AI investments are entering a new phase [1] - Alibaba-W (09988) rose over 3.5%, with Alibaba Cloud adding support for four new programming models and offering lower subscription prices [1] - Hua Hong Semiconductor (01347) increased by over 4%, with expectations that its new 12-inch wafer fab will reach maximum capacity this year [1] - Biren Technology (06082) rose over 8%, having completed adaptations for several leading domestic AI models [1] Group 5: Lithium Industry - Lithium stocks strengthened, with Ganfeng Lithium (01772) rising over 8% after UBS significantly raised its domestic lithium price forecast [3] Group 6: Pharmaceutical Sector - HAP Pharmaceuticals-B (02142) increased by over 5%, with a new generation CTLA-4 antibody expected to generate over 1.2 billion USD in total [4] - Xunqi (03317) rose by over 9%, reaching a new high, with expectations of entering the Stock Connect next month, leading to a reassessment of its data circulation strategy [4] Group 7: Building Materials Sector - K. Wah Laminates (01888) rose nearly 5% to a new high, with expected annual profits exceeding 2.39 billion HKD, representing a year-on-year growth of over 80% [2]

2025年，全球半导体产业迎来一个历史性拐点。 根据Gartner统计，全球半导体总营收达到7930亿美元，同比增长21%。这一强劲反弹不仅终结了此前的周期性低迷，更昭示着行业增长逻辑的根本转向。 过去十年由"移动互联网+云计算"主导的叙事正在退场，取而代之的是以AI基础设施为核心的新引擎。AI处理器、高带宽内存（HBM）和高速互连芯片， 正以前所未有的速度重塑产业版图。曾经稳坐钓鱼台的巨头悄然滑落，而押中AI赛道的玩家则一飞冲天。全球半导体TOP10的座次变动，已不再是简单的 数字游戏，而是一场关于生态、战略与时代判断的深度洗牌。 01 2024 vs 2025，新王加冕 2025年的榜单，最震撼的不是谁上榜，而是差距被拉得如此之大。英伟达不仅稳坐头把交椅，更以一骑绝尘的姿态，将第二名远远甩在身后。 | 2025排名 | 2024排名 | 厂商 | 2025营收 | 2024营收 | 2025-2024增长率(%) | | --- | --- | --- | --- | --- | --- | | 1 | 1 | 英伟达 | 125,703 | 76,692 | 63.9 | | 2 | 2 | 三星电子 ...