Group 1: Market Overview - The Hong Kong stock market opened positively on the first trading day of 2026, with the Hang Seng Index rising by 0.34% and the Hang Seng Tech Index increasing by 0.58% [1] - Wall Street analysts suggest that the Federal Reserve's expected interest rate cuts and potential expansion of its balance sheet may reduce policy uncertainty and market volatility, presenting opportunities in global equities and commodities [1] - Despite the current low trading volume and market differentiation in Hong Kong, there are opportunities for gradual accumulation of undervalued assets with resilient fundamentals [1] Group 2: Company News - Meitu Inc. has completed all conditions for a $250 million convertible bond agreement with Alibaba, expected to close by December 31, 2025, with proceeds intended for general business purposes [2] - CITIC Resources anticipates a significant decline in its unaudited consolidated net profit for the year ending December 31, 2025, estimated between HKD 170 million to 230 million, representing a year-on-year decrease of approximately 60% to 70% [2] - XPeng Motors delivered 37,500 smart electric vehicles in December 2025, marking a 2% year-on-year increase, with total deliveries for the year reaching 429,400 units, a 126% growth compared to the previous year [2] - Geely Automobile reported total vehicle sales of 236,817 units in December 2025, a year-on-year increase of approximately 13%, with total annual sales reaching 3,024,567 units, up 39% from the previous year [2] - NIO delivered 48,100 vehicles in December 2025, achieving a monthly record with a year-on-year growth of 54.6%, bringing the cumulative delivery total to 997,600 units by December 31, 2025 [2]

Market Overview - The Federal Reserve's interest rate cuts and balance sheet expansion provide liquidity support, while lower-than-expected U.S. CPI data raises expectations for further rate cuts. Additionally, the ongoing Russia-Ukraine conflict increases demand for safe-haven assets, supporting high gold prices [1] - Several investment banks are bullish on gold prices, projecting them to reach $5,000 per ounce by 2026, although short-term caution is advised due to potential overbought corrections and liquidity sell-offs triggered by stock market volatility [1] Technical Analysis - Daily Level: The international gold price shows a bullish arrangement on the daily chart, stabilizing above the $4,300 mark, with strong support from the 5/10/20-day moving averages. The RSI is neutral to strong, and the MACD shows a bullish crossover above the zero line, indicating ongoing bullish momentum but caution is needed for potential overbought corrections [1] - 4-Hour Level: The 4-hour chart indicates a high-level consolidation for gold, with moving averages in a bullish arrangement and the Bollinger Bands narrowing. The MACD is showing a bearish crossover above the zero line, and the RSI is retreating from overbought levels, signaling a need to be cautious of potential price corrections [1] - 1-Hour Level: The 1-hour chart reflects a bullish upward trend for gold, with expanding Bollinger Bands. The MACD shows a bullish crossover with increasing volume, and the RSI is neutral to strong, indicating enhanced upward momentum, but there is a clear need to be aware of potential high-level price corrections [1] Future Trading Strategy - For bullish positions: Aggressive traders can enter long positions near the support level of $4,150 per ounce, while more conservative traders should wait for stabilization around $4,000 per ounce before entering long positions in the $4,025-$4,035 range [3] - For bearish positions: Aggressive traders can consider short positions near the resistance level of $4,350 per ounce, while conservative traders should look to enter short positions around $4,400 per ounce in the $4,385-$4,375 range [3]

Group 1 - The core viewpoint of the news is that spot gold prices have surged, breaking through the $4,300 mark, reaching a 50-day high, with current prices reported at $4,300.290 per ounce, reflecting a 0.49% increase [1] - On December 11, spot gold rose significantly, closing at $4,282.49 per ounce, marking a daily increase of 1.27% [2] - Domestic gold jewelry brands such as Chow Sang Sang, Lao Miao Gold, and Lao Feng Xiang have also seen their prices reach new highs for the year, with Chow Sang Sang gold jewelry priced at ¥1,338 per gram, Lao Miao Gold at ¥1,339 per gram, and Lao Feng Xiang at ¥1,337 per gram [2] Group 2 - Reports from Xinyi Futures indicate that the recent increase in initial jobless claims in the U.S. has strengthened expectations for the Federal Reserve to lower interest rates, which supports gold prices [6] - CITIC Futures suggests that the upcoming FOMC meeting in December may bring short-term adjustment pressure to precious metals, but the overall environment remains favorable for gold price increases [6] - According to Great Wall Futures, the Federal Reserve's 25 basis point rate cut signals a more accommodative policy, which supports precious metal prices, with strategies leaning towards a bullish outlook [6]