Group 1: Asset Environment and Economic Outlook - CITIC Securities predicts that the asset environment in 2026 may exhibit characteristics of marginal liquidity easing and moderate economic recovery, with the 10-year China bond yield expected to fluctuate between 1.5% and 1.8% and the 10-year US Treasury yield maintaining a range of 3.9% to 4.3% [1] - The report anticipates that Brent crude oil will oscillate between $58 and $70 per barrel, while gold prices may continue to be strong, potentially reaching $5,000 per ounce, supported by liquidity easing and geopolitical risks [1] - Copper prices are expected to rise to an average of $12,000 per ton due to supply constraints and electricity demand [1] Group 2: Currency and Foreign Investment - Huatai Securities indicates that the current appreciation of the RMB is likely to enhance foreign investors' interest in RMB-denominated assets, creating a positive cycle for capital inflows and easing financial conditions [2] - The report notes that despite seasonal declines in capital flows and risk appetite towards the end of the year, the strengthening of the RMB will continue to boost the valuation of both onshore and offshore RMB assets [2] Group 3: Silver Market Dynamics - Silver prices have surged nearly 150% this year, driven by strong industrial demand, low global inventories, and its inclusion in key mineral lists [2] - Analysts suggest that silver is breaking away from its traditional role as a "by-product" of gold, with its independent investment logic being re-evaluated by the market [2] - Predictions indicate that silver prices could reach $100 per ounce by 2026, especially if monetary instability increases [2] Group 4: Japanese Economic Indicators - Tokyo's inflation rate has shown a greater-than-expected decline, with the CPI rising 2.3% year-on-year in December, down from 2.8% the previous month, primarily due to easing food price increases and lower energy costs [3] - Despite the slowdown, inflation remains above the Bank of Japan's 2% target, suggesting continued tightening of monetary policy [3] - The Japanese economy is expected to rebound from a contraction in Q3, with forecasts indicating production growth of 1.2% and 1.8% in December and January 2026, respectively [3] Group 5: Japanese Government Bond Issuance - The Japanese Finance Ministry plans to reduce the issuance of ultra-long government bonds to the lowest level in 17 years, cutting nearly 20% from the previous fiscal year to approximately 17.4 trillion yen [4] - The total issuance of Japanese government bonds for the next fiscal year is projected to be 180.7 trillion yen, a decrease of nearly 5% from the current fiscal year [4] Group 6: South Korean Currency Intervention - The South Korean won has strengthened against the US dollar due to verbal interventions and measures from authorities, with the government expressing a firm commitment to alleviate pressure on the currency [4] - Recent measures may lead to a dollar sell-off of up to $23 billion, although there are risks that the outcomes may not meet expectations [4]

【导读】日韩股市高开，SK海力士开盘直线拉升 一起来看下日韩股市的最新情况。 个股方面，SK海力士开盘直线拉升，一度涨超4%，最新市值为427.34万亿韩元。 消息面上，日本11月生产者价格环比增长0.3%，预估为增长0.3%；同比增长2.7%，预估为增长2.7%。 消息面上，据韩国经济新闻，SK海力士正在考虑在纽交所发行以其库存股为基础的美国存托凭证（ADR），以寻求实现 公司估值的根本性再评估。SK海力士称，公司正在审议多种提升企业价值的措施，包括可能利用库存股在美国股市上 市。此外，据韩国总统府消息，韩国总统李在明将于周三召开会议，讨论国家芯片战略。 韩国统计局数据显示，11月份韩国新增就业人数为22.5万人，高于10月份的19.3万人。11月份经季节性调整后的失业率为 2.7%，10月份为2.6%。 韩国央行行长李昌镛周二警告称，到2040年，韩国经济的潜在增长率有可能跌至0%左右，并强调要有效地分配财政资 源，以提高增长潜力。他补充说："这在很大程度上是由低出生率和人口快速老龄化推动的，这导致了劳动年龄人口的减 少，而企业投资和提高生产率的创新不足以抵消这些趋势。" 摩根士丹利分析师Kathleen ...

【导读】日韩股市高开，SK海力士开盘直线拉升 中国基金报记者 李智 一起来看下日韩股市的最新情况。 SK海力士开盘大涨 12月10日，韩国股市高开后震荡调整，韩国综合指数涨0.48%，报4163.50点。 | W | | 韩国综合指数(KS11) | | | | | | --- | --- | --- | --- | --- | --- | --- | | | | 12-10 09:13:50 延时行情 | | | | | | 4163.50 | | 昨收 4143.55 | | 成交额 | | 0 | | 19.95 | 0.48% | 今开 | 4159.05 | 成交量 | | 3706.6万 | | 上 涨 | 237 | 中 114 | | 下 跌 | | 482 | | 最高价 | 4172.64 | 19.2 市盈率 | | 近20日 | | 0.32% | | 最低价 | 4155.64 | 市净率 1.39 | | 今年来 | | 73.52% | | સ્ત્રીય | 王日 | 日K 周K | | 月K | 更多 | (0) | | 鹽加 | | | | | | | | 4172.64 ...

韩国或成为第一个承认"海湖庄园协议"的国家？ 据新华财经14日报道，一位韩国政府官员表示，韩国财政部副部长Choi Ji-young于5月5日会见了美国财政部负责国际金融事务的助理部长Robert Kaproth，双方就美元兑韩元市场进行了讨论。两人是在意大利米兰举行的第58届亚洲开发银行（ADB）年会期间会面的。 这引发了市场猜测，即特朗普政府可能倾向于美元走弱，并将汇率问题作为即将到来的贸易谈判的重要内容。 2024年末，随着美元上涨以及尹锡悦短暂实施戒严导致韩国资产抛售，韩国曾购买韩元以阻止其对美元的贬值。11月，韩国被美国财政部列入外 汇操作"监测名单"。 特朗普及其政府官员一直主张，亚洲货币对美元的疲软使区域出口商相对于美国竞争对手获得了不公平的优势。 丹麦银行分析师Mohamad Al-Saraf表示，美韩会谈消息"加强了市场对特朗普政府可能倾向于美元贬值立场的担忧"。 韩国财政部发言人证实了会议的举行，但拒绝提供进一步详情。 消息一出，美元应声下跌。美元兑韩元跌至一周低位，日内下跌1.92%至1396.77。包括日元在内的邻国货币也随之上涨。今年以来，在美元普遍 疲软的背景下，韩元兑美元汇率上涨 ...