纳斯达克指数期货上涨0.58%，标普500指数期货上涨0.39%。现货黄金涨1.18%，报4361美元/盎司。现 货白银涨2.6%报72.87美元/盎司。 市场有风险，投资需谨慎。本文不构成个人投资建议，也未考虑到个别用户特殊的投资目标、财务状况或需要。用户应考虑本文中的任何 意见、观点或结论是否符合其特定状况。据此投资，责任自负。 风险提示及免责条款 ...

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来源：滚动播报 COMEX白银期货日内涨幅达3.0%，报60.17美元/盎司，创历史新高，交易员押注美联储降息前景。现 货白银日内涨幅达2.5%，报59.6美元/盎司，也创历史新高。内盘沪银期货主力合约一度涨近3%，突破 14000元/千克关口。 ...

Report Industry Investment Rating - Not provided in the document Core Viewpoints of the Report - After a continuous upward trend and influenced by the adjustment of US stocks overseas, market risk appetite has decreased, and the short - term index faces certain uncertainties. However, in the long - run, the policy's support for the capital market remains unchanged, and the main strategy is to buy on dips [11][12] Summary by Relevant Catalogs 1. Weekly Assessment and Strategy Recommendation - **Important News**: Future global computing power is expected to reach over 70 times the current level in 10 years; the shortage of global storage chips is intensifying, and prices are expected to rise by about 50% by Q2 2026; the Ministry of Industry and Information Technology plans to regulate the battery industry; spot silver has reached a new high [11] - **Economic and Corporate Earnings**: In October 2025, industrial added - value grew by 4.9%, consumer retail sales by 2.9%, and fixed - asset investment decreased by 1.7%. The official manufacturing PMI was 49.0. M1 and M2 growth rates declined, and social financing increment decreased year - on - year. Exports in September and housing prices in October also showed certain trends [11] - **Interest Rate and Credit Environment**: The 10Y Treasury bond rate and credit bond rate rebounded this week, and the credit spread slightly widened. Liquidity remained loose [11] - **Trading Strategies**: Hold a small amount of IM long positions in the long - term; hold IF long positions for 6 months [13] 2. Spot and Futures Markets - **Stock Index Performance**: The Shanghai Composite Index, Shenzhen Component Index, and other major stock indices all rose, with the ChiNext Index leading with a 4.54% increase. The AH ratio decreased by 1.02% [15] - **Futures Contract Performance**: All major futures contracts, such as IF, IH, IC, and IM, showed varying degrees of increase [16] 3. Economic and Corporate Earnings - **Economic Indicators**: Q3 2025 GDP actual growth was 4.8%. In October, the manufacturing PMI was 49.0, consumption growth was 2.9%, exports grew by - 1.1%, and investment growth was - 1.7% [36][39][42] - **Corporate Earnings**: In the Q3 2025 report, the year - on - year revenue growth was 1.24%, and the net profit growth was 3.89%, both showing an upward trend compared to the semi - annual report [45] 4. Interest Rate and Credit Environment - **Interest Rates**: The 10 - year Treasury bond rate and 3 - year AA - corporate bond rate showed certain trends [48] - **Credit Environment**: In October 2025, M1 and M2 growth rates decreased, and social financing increment decreased year - on - year [58] 5. Capital Flows - **Inflow**: This week, new partial - stock fund shares were about 138.4 billion, and margin trading increased by about 98.34 billion yuan [64][65] - **Outflow**: This week, major shareholders had a net reduction of 74.35 billion yuan, and there were 2 IPO approvals [69] 6. Valuation - **Valuation Indicators**: The PE (TTM) of SSE 50 was 11.83, CSI 300 was 13.94, CSI 500 was 32.03, and CSI 1000 was 46.44. The PB (LF) of SSE 50 was 1.29, CSI 300 was 1.45, CSI 500 was 2.19, and CSI 1000 was 2.44 [73]

Group 1 - The A-share market opened with all three major indices rising, with the Shanghai Composite Index up by 0.11%, the Shenzhen Component Index up by 0.37%, and the ChiNext Index up by 0.43% [2][3] - Key sectors showing strength include lithium batteries, fluorine chemicals, memory storage, satellite navigation, phosphorus chemicals, and photovoltaic concepts, while sectors such as ice and snow tourism, nuclear fusion, reducers, and innovative pharmaceuticals are weakening [1][3] - The Hang Seng Index opened up by 0.3%, and the Hang Seng Technology Index rose by 0.36%, with similar trends observed in the lithium battery and photovoltaic sectors [4][5] Group 2 - The central bank conducted a 7-day reverse repurchase operation of 119.9 billion yuan at an interest rate of 1.40%, with 78.3 billion yuan reverse repos maturing today [5] - The onshore RMB against the US dollar was set at 7.0856, depreciating by 20 basis points from the previous trading day's midpoint of 7.0836 [5]

Market Overview - On September 2, A-shares experienced a collective pullback, with the ChiNext index dropping nearly 3%. The Shanghai Composite Index fell to 3844.84 points, down 0.79%, while the Shenzhen Component Index decreased by 2.21% [1] - The trading volume reached 2.08 billion hands with a turnover of 529.16 billion yuan, reflecting a turnover rate of 3.91% [2][4] Sector Performance - The brokerage sector saw a sudden surge in the morning, with notable stocks such as Pacific Securities hitting the daily limit, and Guosheng Financial Holdings rising by 5.82% [5][6] - Financial stocks generally performed well, with China Merchants Bank increasing by nearly 3%, and other major banks like Construction Bank and Industrial and Commercial Bank of China rising over 1% [6][7] Consumer Sector - Several large consumer stocks rose against the trend, including BeiGene, which increased by 9.84%, and Midea Group, which also saw gains [9] - The food and beverage sector experienced a broad increase, with Kweichow Moutai's stock price briefly returning to 1500 yuan, currently reported at 1488.07 yuan per share [10] Gold and Silver Market - The gold and jewelry sector saw significant gains, with stocks like Mankalon rising by 16% and several others hitting the daily limit. Gold futures and spot prices both surpassed the 3500 USD mark, marking a historical high [17][20] - Silver also saw a notable increase, with Hunan Silver rising by 6.48% [18]