金十数据7月10日讯，今日，港股三大指数全天震荡上行，收盘涨跌不一。截至收盘。恒生指数收涨 0.57%，恒生科技指数收跌0.29%，国企指数收涨0.83%。加密货币概念低开后震荡走高，国泰君安国际 (01788.HK)涨超8%；地产股午后大幅走强，融创中国(01918.HK)涨超13%，富力地产(02777.HK)涨超 11%；苹果概念今日回升，舜宇光学科技(02382.HK)涨超6%；除此以外，中资券商、物流、建材水泥、 内银、保险等概念股涨幅居前。新消费、黄金、锂电池、新能源车企等概念股日内走低。个股方面，耀 才证券金融(01428.HK)涨超25%，市值突破230亿港元；普星能量(00090.HK)认购HASHKEY- HOLDINGS-LIMITED优先股，收涨141%。 港股收评：恒指收涨0.57%，地产股午后爆发 ...

Group 1 - The Hang Seng Index closed up by 0.57%, while the Hang Seng Tech Index fell by 0.29% [1] - Real estate stocks saw significant gains in the afternoon, with Sunac China (01918.HK) rising by 13% [1] - Cryptocurrency-related stocks continued to rise, with Guotai Junan International (01788.HK) increasing by 10% [1] Group 2 - Yao Cai Securities Financial (01428.HK) surged over 25%, with a market capitalization exceeding 23 billion HKD [1] - Apple-related stocks showed signs of recovery, with Sunny Optical Technology (02382.HK) rising by 6% [1]

市场对于特朗普式的"关税吓唬"开始脱敏。 7月9日，尽管特朗普宣布对巴西进口征收50%的关税，并向其他小型贸易伙伴发出关税通知，美股却在 科技股的带动下延续强势表现。 AI芯片供应商英伟达（NVDA.US）第2季开始发力，在接连超越苹果（AAPL.US）和微软 （MSFT.US）后，英伟达再与自己角力，连创新高后，其市值于7月9日一度突破4万亿美元，收市涨 1.80%，报162.88美元，市值3.97万亿美元。 美债整体走高，债息下降，其中美国10年期债券息率下跌6个基点，至4.34%，也有利于美股表现。 联邦公开市场委员会最新发布的会议纪要偏"鹰"，只有少数成员认为关税会对物价产生一次性影响，但 不会影响更长远的通胀预期，但大部分成员依然认为关税对通胀的影响将会持续很长一段时间。 因此，美联储对于接下来的货币政策走向出现了分歧，但大致上分为三个阵营：1）7月份议息会议降 息；2）全年维持利率不变；3）7月不降息，但今年剩余时间仍会降息。第三阵营占主流。 那么，市场怎么看？ 见下图，CME美联储观察显示，今年内降息50个基点的预期占主流，占了42.91%，与公布议息纪要前 一日的比例相若，不过降息75个基点的 ...

Core Viewpoint - Bitcoin price surged to a historical high of $112,052.24, driven by a strong rebound in technology stocks led by Nvidia, with a closing price around $110,947.49 [1][2] Group 1: Bitcoin Market Dynamics - Bitcoin's price is closely tied to overall market sentiment, often rising when investors show increased risk appetite and invest in growth assets [2] - In Q2, the number of companies purchasing Bitcoin exceeded the net inflow of Bitcoin ETFs, indicating strong institutional interest [1] - Despite a narrow trading range in recent weeks, Bitcoin's cumulative increase over the past month was approximately 2% [1] Group 2: Future Outlook - There is widespread expectation that Bitcoin will continue to reach new highs in the second half of 2024, as more companies incorporate Bitcoin into their financial reserves and U.S. Congress moves closer to passing cryptocurrency regulatory legislation [2] - The upcoming "Cryptocurrency Week" in Washington and a generally optimistic market sentiment could push Bitcoin prices to $120,000 or higher [2] - The current open interest in call options significantly exceeds that of put options, suggesting a bullish sentiment among traders [2]

Core Viewpoint - The article highlights significant stock movements in the Hong Kong and US markets, indicating various companies experiencing notable gains due to specific events or developments. Hong Kong Market Highlights - Li Auto (02015) saw a rise of over 3% as the launch of the Li i8 is set for July 29 [1] - Chinese banks experienced gains, with Zhengzhou Bank (06196) up 6.06%, Minsheng Bank (01988) up 4.97%, CITIC Bank (00998) up 3.24%, and Industrial and Commercial Bank of China (01398) up 1.8% [1] - Jiuyuan Gene (02566) increased by over 6% following the approval of its drug by the National Medical Products Administration [1] - Conant Optical (02276) rose over 6% as its net profit is expected to increase by over 30% year-on-year [1] - Puxing Energy (00090) surged over 220% after acquiring equity in HashKey Holdings Limited, entering the digital asset finance sector [1] - Blucube (00325) saw a rise of over 8% as it faced its first share unlock, with an accelerated pace of new product launches [1] - InnoCare Pharma (02577) rose over 5% as TSMC exited the GaN business, prompting cornerstone investors to extend their lock-up period [2] - Jitu Express (01519) increased over 4% due to strong package volume performance in Southeast Asia [2] - Apple-related stocks saw gains, with Cowell (01478) up 5.14%, Sunny Optical (02382) up 4.99%, BYD Electronics (00285) up 4.67%, and AAC Technologies (02018) up 1.89% [2] - From Yuzhi Agriculture (00875) surged over 13% as the company aims to build a comprehensive modern agriculture flagship group [2] - Fenbi (02469) rose over 5% following an upgrade to its AI question-answering system, which is expected to drive performance growth [2] - E-Surfing (02550) increased over 16% after Barclays acquired a 280 million stake and partnered with Huawei Cloud [2] - Cryptocurrency ETF and related stocks rose, with New Fire Technology Holdings (01611) up 10.82%, Xiong'an Technology (01647) up 10.23%, and others [2] - Superstar Legend (06683) surged over 20% as Jay Chou joined Douyin, gaining over 10 million followers [3] - Cornerstone Pharmaceuticals (02616) rose over 4% after its drug production application was approved by NMPA [3] - Longguang Group (03380) opened over 4% higher as its debt restructuring plan was approved by creditors [3] - Saijing Technology (00580) opened over 8% after announcing a projected net profit of approximately 90 million, a 167% year-on-year increase [3] - Derin Holdings (01709) opened nearly 15% higher as it plans to tokenize up to 500 million HKD in assets for distribution to shareholders [3] US Market Highlights - Deutsche Bank (DB.US) rose over 3% as it restructures its wealth management business in Germany to improve profitability [4] - UnitedHealth (UNH.US) fell over 1% amid reports of a US Department of Justice investigation into its medical insurance billing [4] - Futu Holdings (FUTU.US) increased over 9% after Morgan Stanley raised its target price to 160 USD [4] - Boeing (BA.US) rose over 3% as June aircraft deliveries reached an 18-month high [4] - Meta (META.US) increased nearly 2% as it reportedly invested 3.5 billion USD to enhance its AI smart glasses business [4] - Nvidia (NVDA.US) rose nearly 2%, reaching a historic high with a market capitalization of 4 trillion USD [4] - Microsoft (MSFT.US) hit a historic high with a market capitalization of 3.74 trillion USD, following an upgrade from Oppenheimer [4]

Group 1 - Morgan Stanley upgraded Futu Holdings' rating, believing that its cryptocurrency business is expected to become a growth engine for the coming years [1] - The firm forecasts a 27% average annual profit growth for Futu from 2025 to 2027, driven by strong potential in its cryptocurrency operations in Hong Kong, Singapore, and the U.S. [1][18] - Futu's comprehensive licensing advantages and strong brand trust position it well to capture significant market share in the rapidly growing cryptocurrency trading market [1][9] Group 2 - The global cryptocurrency market is experiencing significant growth, with its market capitalization increasing from under $2 trillion at the beginning of 2024 to approximately $3.4 trillion currently [4][6] - Regulatory developments, such as the approval of a spot Bitcoin ETF by the SEC in January 2024, have been key drivers of market growth [6][7] - Futu has obtained a brokerage license in Hong Kong and a VATP license, positioning it among the first regulated financial companies in the market [9] Group 3 - Futu has built a strong customer base and brand trust, with 2.4 million active accounts and customer assets reaching HKD 829 billion in Q1 2025 [10] - The company's one-stop platform integrates various asset classes, lowering entry barriers for new investors [10][14] - The expected contribution from cryptocurrency trading could significantly enhance Futu's revenue, with projections indicating an additional HKD 34 billion from spot trading alone by 2027 [14][16] Group 4 - Futu's current forward P/E ratio is approximately 15 times, slightly above the average of 14.3 times over the past four years, yet analysts believe the stock remains undervalued [2] - The target price for Futu has been raised from $140 to $160, with a projected forward P/E of 20 times by 2026 [2] - Compared to U.S. retail broker Robinhood, which has a forward P/E of 63 times, Futu's valuation appears attractive [2]

Core Insights - The discussion focuses on how a16z is adapting to the AI wave, reshaping venture capital models, and leveraging media influence [2][3] Group 1: a16z's Evolution in Venture Capital - a16z's first phase involved reshaping venture capital through a "product mindset," recognizing that top-tier venture capital is a high-quality product for LPs but often lacks appeal for founders [4][5] - The second phase began with the realization that the landscape has changed, with the potential for many more than just 15 companies to achieve significant revenue, necessitating a scalable approach to venture capital [6][7] - a16z's structural advantage lies in its ability to expand without sharing control, allowing for effective reorganization and rapid adaptation to market changes [8][9] Group 2: Media and Cultural Dynamics - The evolution of media from traditional to social platforms has created a new environment where controlling memes equates to controlling narratives [16][21] - The rapid cycle of information dissemination in social media requires companies to adapt quickly, akin to military strategies that emphasize speed in decision-making [15][22] - a16z aims to leverage its cultural framework to resonate with audiences and create actionable products that align with the fast-paced media landscape [15][21] Group 3: Future Directions and Challenges - The emergence of AI and cryptocurrency presents new opportunities and challenges, with a16z focusing on how these technologies can intersect and create new business models [26][27] - The company emphasizes the importance of maintaining innovation and avoiding the "innovator's dilemma" as it scales, ensuring that its team remains mission-driven and proactive [32][33] - a16z's commitment to supporting founders and fostering a culture of innovation is seen as essential for long-term success in a rapidly changing environment [20][34]

市场风险偏好上升！ 北京时间今日凌晨，比特币首次突破11.2万美元大关，创历史新高。以太坊、Solana、艾达币等其他加密货币 也集体大涨。 同时，美股科技股集体走强，纳指涨近1%，英伟达市值一度突破4万亿美元。有分析指出，在市场风险偏好增 强，投资者加码成长型资产时，加密货币通常会同步上涨。 在这一波急速拉升的过程中，加密货币市场有不少空单被爆仓。coinglass数据显示，过去24小时内，加密货币 全网合约爆仓超5亿美元，爆仓人数近11万人，其中近九成为空单爆仓。 近11万人爆仓 刚刚过去的几个小时，比特币突然大幅拉升，盘中涨幅最高达到3%并突破11.2万美元，再创历史新高。今年 以来，比特币价格已累计上涨近20%。 截至券商中国记者发稿时，比特币上涨2.06%报11.12万美元，恒星币涨超10%，以太坊涨5.8%，艾达币涨超 6%，XRP涨近5%，Solana涨3.6%。 coinglass数据显示，过去24小时内，加密货币全网合约爆仓金额达到5.1亿美元，爆仓人数达10.87万人。其 中，空单爆仓4.48亿美元，多单爆仓6233.7万美元。最大单笔爆仓单发生在HTX-BTC-USDT，价值5156万美 ...

Group 1 - Bitcoin reached an all-time high of $112,000, with a maximum intraday increase of 3% and a year-to-date increase of approximately 19% [1] - In the last 24 hours, 108,800 traders were liquidated, resulting in a total liquidation amount of $510 million [1] - The liquidation data shows that in the last 24 hours, long positions accounted for $626.6 million and short positions for $450 million [2] Group 2 - The new chair of the U.S. SEC, Paul Atkins, is expected to introduce a new regulatory framework for crypto assets by July-August, aiming to balance financial innovation with investor protection [3] - The narrative around Bitcoin has shifted from being seen as a digital currency to being viewed as a reserve asset or "digital gold" [3] - The recovery in Bitcoin prices is anticipated to benefit the Bitcoin mining industry chain, as noted by Guosheng Securities [3] Group 3 - The BTC price movements are closely aligned with the global M2 money supply growth, indicating that BTC prices tend to rise during M2 expansion periods [4] - Short-term liquidity drops during M2 expansion cycles may affect BTC prices temporarily, but the long-term upward trend remains intact [4]

Group 1 - The U.S. Senate Banking Committee is engaged in intense debates over digital asset regulation proposals, with Republicans advocating for a moderate regulatory framework while Democrats warn of potential regulatory loopholes and conflicts of interest [1] - The hearing aims to advance cryptocurrency market structure legislation before the September 30 deadline, with the House set to review related bills next week [1] - Senate Banking Committee Chairman Tim Scott emphasizes the need for a clear and flexible regulatory framework that protects investors and allows for responsible innovation, specifically calling for a clear definition of security tokens and robust mechanisms to prevent illegal financial activities [1] Group 2 - Democratic Senator Raphael Warnock criticizes the current proposal for failing to effectively address conflicts of interest within the administration, referencing the recent launch of a meme coin by the Trump family and their support for an upcoming crypto token project [1] - Concerns are raised by Democratic lawmakers regarding provisions that allow cryptocurrency firms to self-certify as decentralized platforms, questioning whether this could enable companies to evade registration requirements from the CFTC or SEC [2] - Republican Senators Cynthia Lummis, Tom Tillis, Bill Hagerty, and Scott recently released market structure principles advocating for clear legal definitions and regulatory authority delineation for digital assets, aligning closely with the CLARITY Act promoted by the House committee in June [2]