图：1月8日下午，深圳水贝金展珠宝市场部分柜台展示着新增的白银产品；图源：上证报记者杨仪摄 一度作为黄金"影子"的白银在近期创下价格历史纪录后，出现大幅回调，步入高位震荡状态。 银价的震荡之势，也使得国内最大的黄金珠宝交易集散地深圳水贝，在过去一段时间出现了罕见的白银现货需求大起伏。 实探深圳水贝白银需求起伏 在刚刚过去的2025年，伦敦现货白银价格全年上涨近150%，高于现货黄金同期约65%的涨幅。近日，记者实地走访发现，伴随白银价格迭创新高，深圳 水贝黄金珠宝市场一些原本售卖黄金饰品的铺位在柜台新增了白银产品。部分商家销量上扬，尤其银条、银元宝等"低工费、偏投资"品类更受追捧。 "很多之前投资黄金的散户投资客，近期改为投资银条、银锭。近一个月水贝的白银经常拿不到现货。尤其是白银价格快速上涨的那段时间，购买需求旺 盛，但很多商家没有备很多货，因此出现了加价购买的情况。"锦绣传承珠宝黄金店店长邓维佳对上证报记者说。 邢宁是深圳一家贵金属实物产品零售企业的副总经理。他所在的公司主要从上海黄金交易所会员单位采购贵金属原材料再加工为贵金属投资类产品在线下 销售。 "现在白银供不应求，经常有断货的情况，很多白银加工工 ...

（编辑 丛可心） 证券日报网讯 1月9日，中国能建在互动平台回答投资者提问时表示，数据中心电力保障是行业重要课 题，公司依托自身能源全产业链优势，积极探索并布局绿色电力供应解决方案，助力AI产业可持续发 展。 ...

Core Viewpoint - The A-share market in 2025 demonstrated a structural trend, with actively managed equity funds achieving significant excess returns due to excellent stock selection and allocation capabilities [1]. Group 1: Fund Performance - As of December 2025, the Wind data shows that the annual return of the Wind Mixed Equity Fund Index was 33.19%, outperforming the CSI 300 Index (17.66%) and the CSI 800 Index (20.89%) [1]. - Morgan Fund, with over 20 years in the Chinese market, ranked in the top ten for active stock investment management across various time frames, achieving a one-year active management return of 58.14% [2]. - Morgan Fund's flagship product, Morgan China Advantage Mixed A, has delivered a cumulative return of 1471.81% since its inception 21 years ago, significantly exceeding the benchmark return of 244.76% [2]. Group 2: Investment Strategy and Market Outlook - Morgan Fund's investment team anticipates a continued long-term value reassessment of Chinese assets in 2026, identifying structural opportunities in sectors such as technology and high-end manufacturing [4]. - The investment team emphasizes the importance of focusing on quality assets with stable cash flows and sustainable growth, particularly in the context of rising global competitiveness of Chinese industries [4]. - The team sees potential in the AI industry, which is expected to expand from computing power to applications and hardware, and in cyclical value sectors like non-ferrous metals, which are showing improved cash flows and dividends [4]. Group 3: Global Asset Management Strength - Morgan Asset Management, a global leader under JPMorgan, manages nearly 30 trillion RMB in assets, with approximately 9 trillion RMB in equity investments as of September 2025 [3]. - The firm has the highest net inflow in active management and active equity globally in 2024, showcasing its strong market position [3]. - The investment team in China has an average experience of over 12 years, integrating global insights with local practices to ensure investment discipline and strategy stability [3].

"时光"列车骏驰前行，如今已到达"新年"的车站。 在2025年的投资之旅中，投资者见证了资本市场的一系列新变化：中国科技力量兴起，全年引领权益涨 势，上证指数时隔十年之后再次站上4000点关口；在政策鼓励之下，包括险资在内的长期资金加快入 市，为价值投资不断增添砝码；指数化投资潮流风起云涌，指数基金成为市场布局的主要工具；债券投 资难度上升，多元资产配置策略带来更宽阔的投资视野。 在这样的背景之下，投资者对于今年的市场有了更多的期待，希望能在第一时间收获新一年投资布局的 观察与洞见。因此，在2026年启程之际，"时光骏驰行 骧首赴新程"浦银安盛基金2026年度投资策略会 于1月6日正式上线。 本次策略会聚焦2026年的权益投资和多元资产配置前景，特邀国联民生证券研究所副总经理、首席策略 分析师包承超，申万宏源研究董事总经理、所长助理、固定收益首席分析师黄伟平等行业专家，以及来 自浦银安盛基金投研团队12位基金经理，围绕新一年的宏观经济走势和资本市场机遇，展开深度解读， 为投资者带来一场年度投资盛宴。 政策发力 估值适中 把脉A股后市走向 展望2026年，党的二十届四中全会规划了"十五五"发展蓝图，中央经济工作 ...

Group 1 - The core viewpoint of the articles highlights the optimistic outlook for the Chinese capital market in 2026, driven by supportive fiscal and monetary policies, as well as the rise of technology sectors [1][2][3] - The 2026 investment strategy conference by浦银安盛基金 will focus on equity investments and multi-asset allocation, featuring insights from industry experts [1] - The central economic work conference indicates a continuation of proactive fiscal and monetary policies, which are expected to maintain a low-interest-rate environment, enhancing the attractiveness of equity assets [2][3] Group 2 - The technology sector is identified as a key driver of market performance, with significant growth expected in AI and innovative pharmaceuticals, which are anticipated to continue their upward trajectory in 2026 [4][5] - The capital market's institutional development is seen as a solid foundation for long-term growth, with policies encouraging long-term investments and stability [3] - Multi-asset investment strategies are becoming increasingly important, with a focus on diversified asset allocation beyond traditional stock-bond ratios, utilizing FOF strategies and index investment tools [6][7]

Core Viewpoint - The article highlights the growth in tourism and cultural activities during the New Year period, alongside the continuation of price increases in the technology sector, indicating a mixed performance in the macroeconomic landscape [3]. Group 1: Tourism and Cultural Activities - The New Year holiday saw a significant increase in travel demand, with an average daily cross-regional flow of 198 million people, up 19.5% year-on-year, and an average daily entry-exit figure of 2.205 million, up 28.6% year-on-year [4]. - Domestic tourism showed improvement, with average daily tourist numbers and revenue increasing by 5.2% and 6.3% respectively compared to the previous year, driven by enhanced service supply and flexible holiday arrangements [4]. - Shanghai Disneyland's congestion index rose by 128.8% year-on-year during the last week of 2025, indicating a surge in visitor numbers [4]. Group 2: Downstream Consumption - The price of live pigs increased by 3.9% as of December 28, driven by improved demand for New Year preparations [5]. - Real estate sales remain under pressure, with transaction volumes in 30 major cities down 26.0% year-on-year, and significant declines observed across first, second, and third-tier cities [5]. - Retail sales of passenger vehicles decreased by 12% year-on-year during the last week of December 2025, reflecting ongoing challenges in the durable goods sector [5]. Group 3: Technology and Manufacturing - The electronic industry continues to thrive, with prices for DRAM memory chips increasing by 2.6% to 7.1% across different types as of January 2 [6]. - Chemical raw material prices showed mixed performance, with PX prices rising by 6.4% while PTA prices slightly declined [6]. - Industrial metal prices have continued to rise due to supply disruptions and expectations of interest rate cuts, with coal prices stabilizing at a 0.9% increase [6].

近日，存储芯片价格持续上涨引发市场关注，"一盒内存条堪比上海一套房"的话题更是登上热搜，引发网友热议。1月7日，扬子晚报/紫牛新闻记者从多 位业内人士处了解到，自2025年9月开始，存储芯片就已出现涨价趋势，此番波动的原因可能是AI产业爆发式增长引发的供需调整。针对普通消费市场， 业内人士建议，消费者无需恐慌或者进行囤货，按需购买即可。 | | × | | --- | --- | | 256G RECC | | | DDR5 4800 | | | 服务器内存条 | | | 原厂保真正品 | | | 专业对接政企采购 | | | 可开专禀详询客服 | | 据近日智通财经报道，第三方购物平台上，海力士和三星的256G DDR5服务器内存单根价格已超4万元，部分甚至高达49999元/根。如果按照1盒100根来 计算，总价格将近500万元，有业内人士形容称"价值已经超过上海不少房产"。 扬子晚报/紫牛新闻记者了解到，不仅是服务器内存条，存储卡、普通内存条价格也出现明显上涨。社交媒体平台上，不少网友近期发帖吐槽"存储卡价格 突然变贵""内存条价格涨得比黄金还快"，有消费者反映："三个月前花180元买的相机存储卡，现在想 ...

本报讯 （记者李昱丞）2026年1月6日，房地产服务和咨询顾问公司戴德梁行在深圳东方湾国际中心举办2025/2026年度深 圳房地产市场新闻发布会，主题为"见微知著，穿越周期的长期主义"。 张晓端认为，尽管写字楼市场整体需求增长动能偏弱，但也涌现出一些结构性机会。TMT行业贡献了全年最多的甲级写字 楼租赁需求，以租赁面积计占比约达总需求的三分之一。具体来看，AI产业的快速发展带动相关企业的租赁活跃度在2025年表 现亮眼。而在业务扩张的驱动下，新兴的消费电子类企业亦有升级办公场所的需求，正逐步成为租赁需求的主力来源。 （编辑 郭之宸） 戴德梁行研究院副院长、华南及华中区研究部主管及董事张晓端分析，激烈的竞争亦促使购物中心业主积极引入首店打造 差异化优势。"以旧换新"政策持续释放红利，叠加深圳科创产业的稳健增长与技术迭代，为数码电子及智能家电品牌的扩张提 供坚实支撑。影石创新、大疆、韶音等品牌各有数家店铺在年内相继开业，带动数码电子及智能家电品牌占所有业态的比重连 续两年上升至4.8%。 写字楼方面，2025年四个一线城市净吸纳量合计117.5万平方米，较2024年小幅下降3.2%，处于低位持稳的状态。其中， ...

Group 1 - The report highlights a significant improvement in the tourism and cultural sectors during the New Year holiday, with a notable increase in both domestic and international travel demand, with daily cross-regional personnel flow reaching 198 million, up 19.5% year-on-year [7][9] - The average daily inbound and outbound personnel during the New Year holiday reached 2.205 million, marking a 28.6% increase compared to the previous year, indicating a recovery in inbound tourism due to optimized policies [7][9] - Domestic tourism saw a daily average of 47.33 million tourists and a revenue of 28.26 billion yuan, reflecting a year-on-year increase of 5.2% and 6.3% respectively, driven by improved service supply in popular destinations [9][10] Group 2 - The report notes a rise in pig prices, with the national average price for pigs increasing by 3.9% week-on-week, attributed to improved demand from New Year stocking [19] - Real estate sales continue to face challenges, with transaction volumes in 30 major cities down 26.0% year-on-year, and significant declines observed across first, second, and third-tier cities [14][15] - The retail sales of passenger cars decreased by 12% year-on-year, indicating ongoing pressure in the durable goods sector, with rising inventory levels among dealers [15][16] Group 3 - The electronic industry remains robust, with DRAM memory prices increasing by 2.6% to 7.1% across different types, driven by AI infrastructure investments [21][22] - The construction materials sector is experiencing weak demand, with rebar and hot-rolled coil prices showing slight fluctuations, indicating a low-level oscillation in steel prices [23][27] - Chemical prices are mixed, with PX prices rising by 6.4%, while some other chemical prices have slightly declined, reflecting a tight supply-demand balance in the chemical industry [32][33] Group 4 - Coal prices have stabilized, with a week-on-week increase of 0.9%, and port inventories continuing to decline, suggesting increased downstream replenishment activity [36][37] - Industrial metal prices have continued to rise, with copper and aluminum prices increasing by 2.5% and 1.9% respectively, driven by supply concerns and strong global demand expectations [38][39]

人民财讯1月7日电，1月7日，证券时报记者从微创机器人获悉，该公司依托神经元MicroGenius多模态 自主手术大模型，成功完成了全球首例"大模型自主手术"动物实验。这一突破性成果不仅填补了全球大 模型自主手术在体动物实验的技术空白，更推动全球AI产业在医疗领域的深度升级与跨界融合，此 前，在既有公开文献与实践中尚无同类先例。 ...