（原标题：A股晚间热点 | 高层最新部署！事关银发经济和养老服务） 1、李强主持召开国常会，研究推进银发经济和养老服务发展有关工作 重要程度： 国务院总理李强2月24日主持召开国务院常务会议。会议指出，今年是"十五五"开局之年，国务院各部门要进一步增强责任感紧迫感，瞄准全年目 标任务，迅速进入工作状态，推动党中央各项决策部署落地见效。 会议研究推进银发经济和养老服务发展有关工作。会议指出，我国银发经济潜力很大，要完善支持举措、强化政策落实，促进养老事业和养老产 业发展，为应对人口老龄化提供有力支撑。要进一步释放银发消费需求，提升消费能力，发挥消费补贴等政策牵引作用，打造一批银发消费新场 景新业态。 2月24日，外交部发言人毛宁主持例行记者会。有外媒记者提问，美国总统特朗普将会在3月31日访问中国，外交部能否予以证实?毛宁表示，"元 首外交对中美关系发挥着不可替代的战略引领作用。中美双方就特朗普总统访华事宜保持着沟通。但是关于你提到的具体问题，我目前没有可以 提供的信息。" 2、AI芯片再迎催化，美龙头股AMD直线暴涨!发生了什么? 重要程度： 2月24日，AMD公司股价直线暴涨，股价一度涨超10%。消息面上， ...

Summary of Key Points Core Insights - The 13F reports for Q4 2025 from renowned investors Duan Yongping and Li Lu reveal their latest investment strategies amid the rapid transformation of the AI industry and volatility in Chinese concept stocks. Duan has opted for an "aggressive transformation," while Li appears to favor "structural adjustments," using Google as a comprehensive investment in various tech sectors [45][46]. Duan Yongping's Investment Strategy - Duan Yongping's H&H International Investment has a total market value of approximately $17.489 billion, equivalent to over 120.4 billion RMB, with a concentrated portfolio where the top five holdings account for 89% of the total [43][52]. - Apple remains the largest holding, despite a slight reduction of about 247 million shares (7.1%), still constituting 50.3% of the portfolio, valued at approximately $8.8 billion [12][54]. - Significant new investments include a large increase in Nvidia shares by 6.64 million, a 1110% increase, making it the third-largest holding at 7.72% of the portfolio [2][16]. - Duan has also increased positions in Berkshire Hathaway and Pinduoduo, reflecting confidence in their business models, while reducing exposure to Alibaba and Occidental Petroleum [14][70]. Li Lu's Investment Strategy - Li Lu's Himalaya Capital Management has a total market value of approximately $3.57 billion, equivalent to 246 billion RMB, with a highly concentrated portfolio of only nine stocks [44][75]. - The primary holding remains Alphabet (Google), with combined shares of GOOGL and GOOG accounting for over 43% of the total portfolio [5][75]. - A notable new addition is Crocs, with 628,000 shares acquired, representing 1.51% of the portfolio, aligning with Li's focus on brands with strong market presence and cash flow [34][75]. - Li continues to hold significant positions in traditional financial stocks, including Bank of America and East West Bank, reflecting a value investment approach focused on stable cash flows [35][40]. Comparative Analysis - Both investors demonstrate adaptability to emerging industries, with Duan taking a more aggressive stance towards AI and technology, while Li maintains a conservative approach with a focus on established companies [45][46]. - Duan's strategy indicates a shift towards AI-driven investments, while Li's portfolio remains heavily weighted towards traditional sectors, showcasing differing philosophies in navigating market changes [39][40].

每经AI快讯，有投资者在投资者互动平台提问：请问公司未来在DDR3/LPDDR等利基型DRAM上的重 点推进方向是什么？ 东芯股份（688110.SH）2月24日在投资者互动平台表示，尊敬的投资者您好，公司研发的DRAM产品主 要适用于智能终端、可穿戴设备等产品。目前海外大厂正在逐步退出利基型DRAM市场，供给侧正在发 生结构性变化。公司正积极布局利基型DRAM产能，以把握潜在的市场机遇，并持续提升DRAM产品类 型。 （文章来源：每日经济新闻） ...

Market Overview - US stock indices attempted to rebound after a significant drop, with the Dow Jones rising by 256.19 points (0.52%) to 49,060.25, the Nasdaq increasing by 92.00 points (0.41%) to 22,719.28, and the S&P 500 gaining 14.11 points (0.21%) to 6,851.86 [3][10] - Concerns over AI's disruptive potential across various industries led to a market sell-off, with major indices declining the previous day [3][10] Company Developments - AMD's stock surged by 6.6% following Meta's announcement of a multi-year partnership, which includes deploying up to 6 gigawatts of AMD GPUs for AI data centers and a potential investment in AMD stock through performance-based warrants [3][10] - Meta previously indicated the use of millions of Nvidia chips in its data center construction, highlighting the competitive landscape in AI technology [3][10] Trade and Tariff Concerns - President Trump's new "unified tariff rate" took effect, raising concerns about the enforceability of last year's trade agreement, with the European Parliament postponing a vote on the agreement [3][10] - The US government is considering imposing new national security tariffs on six industries, including large batteries and telecommunications equipment, following a Supreme Court ruling that invalidated many tariffs from Trump's second term [4][11] Economic Indicators and Federal Reserve Commentary - Chicago Fed President Austan Goolsbee called for a pause in interest rate cuts until more evidence shows inflation is decreasing, emphasizing the need to monitor inflation closely [6][14] - The core personal consumption expenditures price index, a key inflation indicator, was reported at 3%, up 0.2 percentage points from November, partly due to tariffs and pressures in the service sector [6][14] - Market expectations suggest a 50% probability of a rate cut in June and a 71% probability in July, with discussions among Fed officials indicating a cautious approach to further cuts [7][15]

Group 1 - The semiconductor foundry stocks experienced a broad increase, with notable gains from companies such as ASE Technology rising over 5%, UMC up 4.6%, GlobalFoundries increasing by 3.4%, TSMC rising 2.3%, and Tower Semiconductor up 1.2% [1] - ASML researchers announced a technological solution to enhance the power of core chip manufacturing equipment light sources, increasing EUV light source power from the current 600 watts to 1000 watts [1] - The higher power output will allow for the production of more chips per hour, thereby reducing the manufacturing cost per chip [1] Group 2 - By the end of 2030, each piece of equipment is expected to process approximately 330 silicon wafers per hour, a 50% increase from the current capacity of 220 wafers [1]

国别研究 [table_Header]2026.02.24 证券公司支持科技型企业合理开展跨境并购 研究 产业研究中心 | 摘要： | | --- | [Table_Report] 往期回顾 企业出海合规要点与案例指南——越南篇 2026.01.05 土耳其深度洞察：埃尔多安经济学的破局与转型 ——土耳其国别研究专题系列报告 2025.12.20 东南亚制造：泰国如何走出困境 2025.12.18 印尼内外需稳健——东南亚国别观察 2025 第 7 期 2025.11.30 企业出海合规要点与案例指南——印尼篇 2025.11.21 | | | | | 021-38031655 | | --- | --- | | | chenximiao@gtht.com | | 登记编号 | S0880520120004 | | | 徐淋(分析师) | | | 021-38677826 | | | xulin4@gtht.com | | 登记编号 | S0880523090005 | 请务必阅读正文之后的免责条款部分 1 of 12 [Table_Summary] 在全球科技竞争加剧、地缘政治紧张及多边监管趋严的背景下，中 ...

隔夜，现货黄金一度上涨超2%或超110美元，突破5200美元关口，刷新日高至5237.54美元。此前，金价已连续三周录得周线上涨，逐步收复月初 自历史高位回落后的跌幅。今日欧市盘中，黄金大幅下跌，跌破5200美元，目前在5171美元附近徘徊。 与此同时，现货白银上触89美元，最终收涨4.24%，报88.18美元。今日欧市盘中，白银大幅下跌，目前在88.19美元附近徘徊。 特朗普关税"二次出击"！ 隔夜，美股市场全线杀跌，道指重挫超821点，纳指、标普500指数均大跌超1%。具体来看，道指大跌超821点，跌幅达1.66%，纳指跌1.13%，标 普500指数跌1.04%。 消息面上，美拟以国家安全为由推出新关税。 美国《华尔街日报》当地时间周一最新报道称，在美国最高法院上周作出裁决、否决了特朗普总统第二任期的多项关税后，特朗普政府正考虑对 六大行业征收新的国家安全关税。 据知情人士透露，正在考虑的新的关税或将涵盖大型电池、铸铁件和铸铁配件、塑料管道、工业化学品以及电网和电信设备等行业。 报道称，这些关税将根据1962年《贸易扩展法》第232条款征收，该条款赋予总统基于国家安全风险征收关税的广泛权力。 此外，特朗普 ...

Group 1 - Trump's 10% global tariff has taken effect, leading to a slight increase in U.S. stock indices, with the Nasdaq up 0.06%, S&P 500 up 0.01%, and Dow Jones up 0.04% [1] - AMD shares rose by 7.7% following a significant AI chip and equipment procurement agreement with Meta, valued at a total of $100 billion [1] - Novo Nordisk shares fell nearly 3% and Eli Lilly dropped over 1% as Novo Nordisk announced a price reduction of up to 50% for its weight loss drugs in the U.S. next year [1] Group 2 - Financial technology company, Futu Holdings, saw a 1.8% increase in shares after forming a long-term partnership with Anthropic, aimed at providing customizable AI agents for mid-market enterprises [1] - SanDisk shares increased by 2.1% after the company released a teaser poster, indicating the launch of a new product or technology on February 24 [1]

Core Viewpoint - The U.S. stock market is attempting to stabilize after a significant drop, influenced by geopolitical tensions and concerns over AI's impact on various industries [1][2]. Group 1: AMD and Meta Collaboration - AMD's stock surged following Meta's announcement of a multi-year partnership, deploying up to 6 gigawatts of AMD GPUs for AI data centers [5]. - Meta plans to invest in AMD through performance-based warrants, allowing the purchase of up to 160 million shares [5]. Group 2: Market Reactions and Concerns - Major stock indices experienced declines, with the Dow Jones dropping over 800 points, largely due to a 13% decline in IBM's stock [2][5]. - The Nasdaq Composite fell by 1.1% and the S&P 500 decreased by approximately 1%, marking a downturn for the year [2][5]. Group 3: AI-Driven Market Dynamics - A report from Citrini Research discussing AI-driven structural changes heightened market fears regarding the "replacement effect" of AI on software and other industries [6]. - The so-called "AI panic trading" has become a dominant theme in the U.S. stock market, leading to sell-offs across various sectors, including insurance brokerage and real estate services [6]. Group 4: Upcoming AI Events - Traders are closely watching an upcoming event by Anthropic, which is expected to unveil new products and features, contributing to market volatility [7]. - Anticipation surrounding Anthropic's announcements is causing investors to adopt a wait-and-see approach, impacting software stocks negatively [7].

Bofa Hartnett AI 巨头宣布削减 Capex 将成为触发市场新一轮重大轮动的核心催化剂 距离中期选举还有 9 个月，对于 Hartnett 来说 2026 年美国中期选举是美股核心驱动因 素，其为此次选举布局的核心思路是做多本土经济相关标的、做空华尔街金融类标的，具 体要点如下： Hartnett 在最新 flow show 中进一步强化其观点：特朗普的支持率呈现分化：华尔街支 持率创历史新高，美国普通民众（主街）支持率跌至新低，其中民众对其通胀政策的支持 率仅 36.4%，整体支持率 42.1%。 若 2 月 24 日特朗普国情咨文演讲后未出现 "支持率提振"，其政府或将推出更激进的民 生减负政策，以争夺中期选举选票： 这并不是说市场一切都好：想想"人工智能颠覆交易"，它在过去一周重创了多个行业： 周一的保险经纪商、周二的财富顾问、周三的房地产服务、周四的物流…… Hartnett 将此 称为"野火般的人工智能颠覆"……请注意，第一个被人工智能颠覆的行业是 2025 年第 一季度的印度科技行业（INFO、TCS），而且至今仍无人接盘。 Hartnett："即便是人工智能最优秀的大语言模型也无法 ...