老铁们，帮主今儿个看到个怪现象——国际金价哗哗往下掉，可国内金条和金豆反而涨价了！这就像超市大促销，别人都在打折，就你家门口的便利店还涨 價，你说奇怪不奇怪？ 更值得关注的是，现在年轻人掀起了"攒金豆"热潮，每月发工资买一颗，既当储蓄又当时尚。这种需求叠加节假日前的购金高峰，让国内金价硬生生走出了 独立行情。 给咱们投资者的几点思考 如果你是稳健型投资者，黄金作为资产配置的一部分确实能起到对冲风险的作用。但切记不要追高，尤其是现在内外价差拉大的情况下。 对年轻人来说，攒金豆是个不错的习惯，但也要注意购买渠道和溢价水平。金店的金豆往往加工费不菲，真要投资还不如考虑银行的实物金条或者黄金 ETF。 我有个朋友上周刚买了颗金豆，还跟我炫耀说攒够十颗就能打条金链子。结果昨天一看，同样重量的金豆贵了二十多块，他直呼看不懂。这事儿啊，还真得 掰扯掰扯。 先说国际金价为啥跌 最近美元走强是个关键因素。美联储那边的鹰派声音又多起来了，美元指数蹭蹭往上走，黄金自然就承压。再加上地缘政治局势有所缓和，避险情绪降温， 国际金价就出现了这波回调。 不过老铁们要记住，黄金这玩意儿从来都是"情绪化"资产——恐慌时它是香饽饽，太平盛世就容 ...

将投中网设为"星标⭐"，第一时间收获最新推送 真正决定今后几个月走势的，将是政策落地与企业利润能否追上估值。 作者丨马骏 郎兴仁 来源丨 投中资本 导语 结论： 2025年以来，在全球各地上市的中国企业联袂上演了一场大牛市，截止10月24日，沪深300年内涨 18.4%，港股恒生涨30.4%，中概股涨35.6%，创业板指和科创50更是狂飙48.1%和47.9%，把美股标 普500（15.5%）、纳斯达克（20.2%）远远甩在后面。但这场突如其来的大牛市又和多数人的体感 不尽一致。这场牛市到底是业绩复苏的反映，还是情绪和流动性的驱动？ 以前的大盘研究有很多，但大多局限于A股5,000余家上市公司，对境外上市企业多数着重于个股分 析，现在2025年上半年财报几乎都出了，本次投中研究我们把A股、港股、美股中概股中的近8,000 家中国企业拢在一起算笔账，或许能看清真相。同时，对比境外和A股上市公司，或许能对当前A股 发行制度多一层思考。 本文的核心洞察： 当前中企全球主板上市公司已达到8070家，总产值达到中国GDP的70%； 中企全球上市公司上半年收入仅同比+0.9%，净利润+3.9%，但总市值大涨25%； A股 ...

Group 1 - The core viewpoint of the articles indicates that the A-share market is experiencing a strong performance, with major indices collectively rising and the stock index futures market also showing significant gains, reflecting increased market enthusiasm [1][2]. - The main contract of the CSI 300 stock index futures (IF) rose by 2.29%, while other contracts such as the SSE 50 (IH), CSI 500 (IC), and CSI 1000 (IM) also saw increases of 2.14%, 1.8%, and 1.27% respectively, indicating a broad-based rally in the futures market [1]. - The total open interest for the IF contract reached 289,600 lots, with a daily increase of 12,400 lots, while the IC contract had an open interest of 244,500 lots, increasing by 10,900 lots, suggesting a strong influx of capital into the market [1]. Group 2 - Since July, the degree of discount (contango) in stock index futures has gradually narrowed, with the IF contract's discount to the spot market reducing from over 56 points in early July to around 25 points in August, indicating a shift towards a slight premium [2]. - The narrowing of the discount typically signifies improving market expectations for future indices, with the current market being in an "accelerating sentiment" phase characterized by strong capital inflow and rapid rotation of hot sectors [4]. - Investors are becoming more sensitive to positive policy news and better-than-expected earnings, which is driving a positive feedback loop between the futures and spot markets [4]. Group 3 - Despite the market's strong upward movement, analysts caution investors to be aware of potential short-term overheating risks, suggesting that while maintaining current positions, risk management is essential [5]. - It is recommended to focus on high-growth sectors such as technology and consumer goods for structural opportunities, while being cautious of stocks that have seen excessive short-term gains and valuations that deviate from fundamentals [5]. - In the medium to long term, if the economic recovery trend is confirmed and corporate earnings improve, the market is expected to transition from being sentiment-driven to profit-driven, enhancing the value of quality asset allocations [5].

Core Viewpoint - The summer entertainment market in China is experiencing a significant boom, driven by the younger generation's travel and participation in music festivals and concerts, which are enhancing the cultural tourism economy [1][3][5] Group 1: Market Trends - The audience aged 18-24 accounts for 36.2% of attendees at large music festivals, indicating a strong interest from students during their summer vacations [3] - The shift from "resource-driven" to "emotion-driven" tourism highlights the importance of transforming cultural elements into perceivable emotional symbols to combat industry homogenization [5] Group 2: Consumer Experience - Music festivals provide immersive experiences that resonate with young consumers, who seek emotional value and unique cultural interactions beyond traditional tourist attractions [3][5] - Events like the Shanghai Spring Music Festival and the integration of local cultural elements into music festivals enhance consumer engagement and create new consumption experiences [3][5] Group 3: Economic Impact - Major concerts, such as Jay Chou's in Nanning, attracted 140,000 attendees and generated local consumption of 1.263 billion yuan, showcasing the multiplier effect of cultural consumption [5] - The integration of concert tickets with local tourism discounts and shopping incentives in places like Hainan and Xiamen reflects a growing trend of combining entertainment with broader economic benefits [5]

Core Insights - The main futures contract for coking coal surged over 9% during the night session, indicating a strong market reaction driven by both policy and sentiment factors [1] Group 1: Market Dynamics - The coking coal market is currently experiencing significant upward pressure due to a combination of government policies and market sentiment [1] - There is speculation regarding the potential for coking coal prices to continue rising, with questions about how much further coking coal can increase [1]