"在大约两年半前，德国柏林，十多名德军高官齐聚一处三角形军事大院里召开会议，制定一项与俄罗 斯交战的秘密计划……" 就在美俄乌欧就和平计划博弈正酣之际，美国《华尔街日报》11月27日发表长文"德国的秘密对俄作战 计划"曝光了上述一幕。 两年半前，俄乌冲突已爆发一年多时间。根据文章的说法，这项被称作"德国行动计划"（OPLAN DEU）的机密文件长达1200页，概述了在未来与俄罗斯潜在冲突中，德国如何支持北约军队向东欧大 规模部署，详细规划了在德国领土上调动多达80万士兵和20万辆车辆的物流、后勤补给线、保护关键基 础设施以及动员平民参与行动的细节。 然而，德国正面临一系列现实问题，包括老化的基础设施、缺乏军民两用设施、过时法规、人员短缺， 以及易受破坏活动影响的铁路和港口等。而最大的不确定性，或许还是时间。 实际上，近几年西方多次渲染"与俄罗斯开战"话题，但屡遭俄方驳斥。俄外长拉夫罗夫9月在联合国大 会期间强调，一些国家明里暗里指控俄罗斯计划袭击北约和欧盟国家，俄总统普京一再揭穿这类挑衅行 为。俄罗斯过去没有、现在也没有这样的意图。 "要想落实计划，得重塑认知" 根据《华尔街日报》的文章，俄乌冲突的爆发终结了 ...

11月26日，港股高开震荡尾盘涨幅持续收窄，恒生指数涨0.13%，国企指数、恒生科技指数分别上涨0.04%及0.11%， 大市总体呈现3连涨行情。 | 名称 | 最新价 | 涨跌额 | 涨跌幅 | | --- | --- | --- | --- | | 恒生指数 | 25928.08 | +33.53 | +0.13% | | 800000 | | | | | 国企指数 | 9162.37 | +4.06 | +0.04% | | 800100 | | | | | 恒生科技指数 | 5618.36 | +6.33 | +0.11% | | 800700 | | | 150 12 | 盘面上，大型科技股走势分化，快手跌近3%，百度跌2%，阿里巴巴跌1.9%，小米、腾讯飘绿；油汇成本改善利好航 企业绩，航空股再迎大涨行情，东航大涨近7%；巨头密集发布产品调价通知，白卡纸价开始触底反弹，纸业股午后涨 幅加大；药品股、半导体股、汽车股、保险股多数上涨。另一方面，地缘政治有缓和迹象，军工股持续回调；影视娱 乐股、黄金股、稳定币概念股、内房股、煤炭股多数走低。 | 代码 | 名称 | | 最新价 | 涨跌额 | 涨跌幅 ...

今日午后，A股三大指数走势分化。截至收盘，上证指数跌0.15%，深证成指涨1.02%，创业板指涨2.14%。市场全天成交额超1.79万亿元。 大消费板块尾盘异动拉升，海欣食品（002702）涨停，截至收盘封单超17万手。消息面上，工业和信息化部等六部门联合印发《关于增强消费品供需适配 性进一步促进消费的实施方案》。 CPO（共封装光学）概念股午后持续走强，中际旭创（300308）盘中创历史新高，永鼎股份（600105）涨停；抗流感概念股表现活跃，广济药业 （000952）3连板，北大医药（000788）2连板。房地产板块冲高回落，中国武夷（000797）跌超6%，万科A跌超2%；军工板块回调，航天发展 （000547）跌停。 大消费板块午后拉升 今日午后，大消费板块尾盘异动拉升。海欣食品直线上涨回封涨停，截至收盘，封单超17万手；广百股份（002187）、国光连锁（605188）等多股涨停。 消息面上，工业和信息化部、国家发展改革委、商务部、文化和旅游部、中国人民银行、市场监管总局印发《关于增强消费品供需适配性进一步促进消费 的实施方案》。其中提出，加快布局新领域新赛道。聚焦智能网联新能源汽车、智能家居、消费 ...

Market Overview - Hong Kong stock market indices continued to rebound, driven by easing geopolitical tensions and expectations of a Federal Reserve rate cut[9] - The Hang Seng Index closed at 25,895, up 0.69% for the day and 29.09% year-to-date[3] - Major tech stocks performed well, with Baidu Group rising 4.56% and Xiaomi Group increasing by 4.35%[9] Sector Performance - New consumption concept stocks saw overall gains, with Cha Bai Dao up over 3% and Gu Ming up over 2%[9] - Battery and lithium mining stocks were strong, with Tianqi Lithium up 4.81% and Ganfeng Lithium up 3.46%[9] - Precious and non-ferrous metal stocks generally rose, supported by increased expectations for a Fed rate cut, with Chifeng Jilong Gold up 4.86%[9] U.S. Market Insights - U.S. stock indices closed higher, with the market assessing the Fed's rate cut prospects and developments in the AI sector[9] - The probability of a 25 basis point rate cut at the December meeting is approximately 82% according to the CME FedWatch Tool[9] - Kevin Hassett is viewed as a leading candidate for the next Fed chair, which could lead to a more aggressive rate cut policy[9] Japanese Market Dynamics - The Nikkei 225 index saw minimal movement, closing up 0.07%, with SoftBank Group dropping nearly 10%[13] - Concerns over foreign investment risks and competition in the AI sector are impacting market sentiment[13] Chinese Concept Stocks - The Nasdaq Golden Dragon China Index rose 0.35%, with notable gains in stocks like Hesai up 10.98% and Bawang Tea up 6.69%[10]

港股继续反弹行情，三大指数均录得3连涨。截止午盘，恒生指数涨0.46%重回26000点上方，国企指数 涨0.5%，恒生科技指数涨0.51%。权重科技股部分继续反弹助力大市回升，阿里称淘宝闪购第一阶段规 模扩张已结束，美团盘中拉升大涨7%表现抢眼；流感药品销量暴涨！生物医药股集体活跃，创新药概 念方向涨幅明显，龙头恒瑞医药一度涨超6%，连续回调的航空股再度活跃。另外，军工股继续昨日回 调行情，稳定币概念股、手游股普跌。(格隆汇) ...

三大指数集体上涨，截至午盘，沪指涨0.14%，深成指涨1.61%，创业板指涨2.76%，北证50指数涨 0.40%，沪深京三市半日成交额11439亿元，较上日缩量392亿元。全市场超2800只个股上涨。板块题材 上，CPO、流感、半导体板块活跃，军工、商业航天板块调整。盘面上，CPO板块持续走强，长光华芯 20CM涨停封板，中际旭创涨超14%，新易盛涨超9%。流感板块早盘走强，粤万年青、华人健康20CM 涨停封板，人民同泰、北大医药等数只个股涨停封板。半导体板块活跃，明微电子20CM涨停封板，博 通集成涨停。军工板块调整，江龙船艇跌超9%，中船防务触及跌停。商业航天板块冲高回落，久之洋 跌超10%，航天发展触及跌停。 ...

Market Overview - The Hong Kong stock market showed a significant recovery on November 24, with all three major indices ending a streak of declines[9] - Large tech stocks performed strongly, with Kuaishou rising over 7%, and NetEase and Bilibili increasing over 5%[9] - The Hang Seng Tech Index closed at 5,546, up 2.78% for the day and 24.11% year-to-date[3] Sector Performance - Innovative pharmaceuticals and outsourcing concepts saw notable gains, with companies like Innovent Biologics rising over 6%[9] - Military stocks also performed well, with China Shipbuilding Defense up over 13%[9] - Oil stocks were weak, with China National Offshore Oil Corporation and China Oilfield Services both declining over 1%[9] U.S. Market Insights - On the same day, U.S. markets saw all three major indices close higher, driven by increased bets on a Federal Reserve rate cut[9] - The "Magnificent Seven" tech stocks, including Google and Nvidia, all rose, with Google gaining over 6%[9] - The S&P 500 index is projected to achieve double-digit annual growth according to HSBC strategists[14] Economic Indicators - The Federal Reserve is expected to cut rates in December, with market predictions showing a 70% probability[14] - The U.S. economy's third-quarter GDP report has been delayed due to a government shutdown, affecting economic analysis[14] Investment Trends - The Nasdaq Golden Dragon China Index rose by 2.82%, indicating a positive trend for Chinese concept stocks[13] - Significant inflows into semiconductor stocks were noted, with companies like Broadcom surging 11%[13]

Report Industry Investment Rating - The overall rating for commodities and stock index futures is neutral [5] Core Viewpoints - Amid the current inflation expectation game phase, focus on the more certain non - ferrous metals and precious metals sectors [4] - The Fed is likely not to cut interest rates in December, and the change in market expectations has impacted short - term overseas assets [3] - The domestic economic foundation still needs to be strengthened, but the "15th Five - Year Plan" proposal has boosted market sentiment and economic expectations [2] Summary by Related Content Domestic Economic Situation - On October 28, the full text of the "15th Five - Year Plan" proposal was released. The average GDP growth rate during the "15th Five - Year Plan" period is expected to be around 5% [2] - On October 30, the China - US economic and trade teams reached a three - aspect consensus, and on November 5, China officially postponed tariffs [2] - In October, the national manufacturing PMI was 49, a month - on - month decrease of 0.8. China's exports in October decreased by 1.1% year - on - year, and the growth rates of investment, consumption, and industry also slowed down [2] - On November 14, the State Council Executive Meeting studied the implementation of "two major" construction and promoted consumption policies [2] - On November 25, the People's Bank of China will conduct a 1 - year MLF operation of 1 trillion yuan [2][6] - On November 24, the A - share market fluctuated with reduced trading volume, and the military industry sector soared [2] International Economic Situation - Multiple Fed voting members have expressed cautious views on a December interest - rate cut, while Fed Governor Waller supports a cut and Vice - Chair Jefferson emphasizes a cautious approach [3] - The US 11 - month S&P Global Composite PMI preliminary value was 54.8, the highest in four months, with the service sector accelerating and the manufacturing sector slowing [3] - The US September seasonally - adjusted non - farm payrolls increased by 119,000, the largest increase since April, but the unemployment rate rose and wage growth declined [3] - The Eurozone's November manufacturing PMI preliminary value was 49.7, unexpectedly falling below the boom - bust line, with manufacturing in Germany and France deteriorating [3] - The EU Council approved the EU's 2026 annual budget, with a total budget commitment of 192.8 billion euros [3][7] Commodity Market - The black sector is still dragged down by downstream demand expectations, and attention should be paid to the "anti - involution" situation [4] - The long - term supply constraint in the non - ferrous sector has not been alleviated, and it has been boosted by global easing expectations recently [4] - The medium - term supply of the energy sector is considered relatively loose, with OPEC+ announcing an additional production increase of 137,000 barrels per day in November [4] - In the chemical sector, the "anti - involution" space of varieties such as methanol, caustic soda, urea, and PTA is worthy of attention [4] - In the agricultural products sector, with the China - US talks concluded, attention should be paid to China's procurement plan for US goods and next year's weather forecast [4] - After the short - term sharp adjustment risk in the precious metals sector is cleared, opportunities for buying on dips can be considered [4] International Political Events - On November 23, the US and Ukrainian delegations held talks on the US - proposed "28 - point" new plan to end the Russia - Ukraine conflict in Geneva, Switzerland, and jointly drafted an updated peace framework text [4][7]

特朗普已接受邀请将于明年4月访华，隔夜美股三大指数集体收涨，中概指数涨2.82%。港股三大指数 应声高开，恒指涨0.9%，国指涨0.86%，恒生科技指数涨1.43%。权重科技股集体上涨，其中，百度涨 近4%，小米、阿里巴巴涨近3%；受美联储降息希望提振，亚市早盘黄金小幅走高，黄金股齐涨，铜、 铝等有色金属股纷纷上涨。另外，昨日大幅上涨的军工股回调，物管股、生物医药股部分走低。(格隆 汇) ...

Group 1: Stock Market Activity - On the institutional trading list, 32 stocks were featured, with 14 experiencing net buying and 18 facing net selling [1] - The top three stocks with the highest institutional buying were: Dazhong Mining (130 million), Delijia (129 million), and Huanrui Century (80.25 million) [1] - Huanrui Century entered a strategic partnership with Shanghai Jieyue Xingchen Intelligent Technology Co., aiming to establish the "Linyue" AI Joint Laboratory, integrating AI models for film content production [1] Group 2: Aerospace and Defense Industry - The commercial aerospace sector is witnessing a significant shift with the upcoming first flights of several reusable rockets, including Zhuque-3 and others, expected between late 2025 and early 2026 [4] - The Chinese government has initiated the commercial satellite IoT business trial, marking a step forward in the satellite internet sector [2] - The military industry is seeing companies like Jianglong Shipbuilding and Beifang Changlong gaining qualifications for producing military vessels and equipment, indicating growth in defense capabilities [4]