6月20日上午，A股市场窄幅震荡。截至午间收盘，上证指数涨0.08%，深证成指跌0.19%，创业板指跌 0.56%。 大家好！来一起关注上午的市场和最新资讯。 | A股 港股 美股 全球 基金 商品三 | | | | --- | --- | --- | | 内地股票 | | | | 行情 | 资金净流入 | 涨跌分布 | | 上证指数 | 深证成指 | 北证50 | | 3364.83 | 10032.64 | 1363.90 | | +2.73 +0.08% -19.32 -0.19% -1.88 -0.14% | | | | 科创50 | 创业板指 | 万得全A | | 960.62 | 2015.47 | 5100.81 | | -2.32 -0.24% -11.35 -0.56% -2.32 -0.05% | | | | 沪深300 | 中证500 | 中证A500 | | 3852.39 | 5661.02 | 4501.14 | | +9.30 +0.24% -15.81 -0.28% +1.32 +0.03% | | | | 中证1000 | 深证100 | 中证红利 | | 6022.21 | ...

Core Viewpoint - The article highlights a partial rebound in the pharmaceutical sector and a collective rally in the financial sector, with significant movements in various stocks and indices across A-shares and Hong Kong markets [2][9][14]. A-shares Market Summary - As of the midday close on June 20, the Shanghai Composite Index rose by 0.08% to 3364.83, while the Shenzhen Component fell by 0.19% to 10032.64, and the ChiNext Index decreased by 0.56% to 2015.47 [3][4]. - The total market turnover was 686.34 billion, showing a significant decrease compared to the previous day, with 3206 stocks declining and 1941 stocks rising [5][4]. - The financial sector performed well, with notable gains in food and beverage, transportation, and steel sectors, while concepts like lithography machines and solid-state batteries gained traction [5][6]. Hong Kong Market Summary - The Hong Kong market experienced a positive trend, with the Hang Seng Index increasing by 1.15% to 23504.59, and the Hang Seng Tech Index rising by 0.71% [7][8]. - Key stocks such as Li Ning surged by 6.8%, leading the gains among Hang Seng constituents, along with significant increases in China Life, Industrial and Commercial Bank of China, and Ping An Insurance [7][8]. Lithography Machine Sector - The lithography machine concept stocks saw a significant rise, with Strongly New Materials hitting the daily limit up, and other stocks like Jingrui Electric Materials and Xinlai Materials also showing substantial gains [10][11]. - A report from Guojin Securities indicated that domestic high-end lithography machines are expected to achieve breakthroughs, with notable progress in DUV lithography machines [12]. Pharmaceutical Sector - The pharmaceutical sector showed signs of recovery, particularly in innovative drugs and weight-loss drug concepts, with stocks like Saiseng Pharmaceutical and Shengnuo Biotechnology experiencing notable increases [12][13]. - Saiseng Pharmaceutical reached a limit up, while other companies like Meinuo Pharmaceutical and Anglikang also saw significant gains [12][13]. Financial Sector Performance - The financial sector exhibited strong performance, with major insurance companies like Ping An Insurance and New China Life Insurance rising over 2% [15][16]. - In the banking sector, Xiamen Bank increased by over 3%, with several banks reaching historical highs during the session [17][18]. Oil and Gas Sector - The previously hot oil and gas sector experienced a pullback, with companies like Huajin Co. and Tongyuan Petroleum seeing significant declines [22][23]. - Despite the overall downturn, Shandong Molong achieved a six-day limit up streak, indicating strong market interest [25].

特朗普宣布对所有贸易伙伴征收10%的"基准关税"，该关税于美国东部时间4月5日凌晨0时01分生效。此外，特 朗普对与美国贸易逆差最大的国家和地区征收不同的、更高的"对等关税"，该关税于美国东部时间4月9日凌晨0 时01分生效。根据美国白宫在社交媒体上发布的税率表，新关税政策覆盖185个国家和地区。在主要贸易逆差国 家和地区中，中国大陆面临34%的新税率。 据环球时报报道，美国选择不多。政府试图获取其他关键矿产所采取的一些策略——这些做法无法营造出那种为 促成国际合作以找到中国供应替代品所需的友好氛围。在这种情形下，美政府的关税措施似乎特别适得其反。眼 下紧迫的问题是，在那之前该如何应对。考虑到当前的情况，对中国挑起贸易战、排除合作与共存的可能性，不 是一个明智之举。单从稀土和磁体这方面来说，就足以促使白宫缓和与中国的敌对关系，并立即开启对话。 这一次，中国通过稀土管制，可以抬高美国车企获取永磁电机的成本，削弱其电动车成本竞争力。据市场调研机 构Benchmark Mineral Intelligence测算，此举可能使美国电动车电池成本增加5-8%。通过管制，还可以倒逼海外 企业将稀土加工环节转移至中国境内， ...

大家好，一起关注一下今天市场发生了什么。 尾盘再次突袭 A股"8连阳" 4月17日，A股沪指实现"8连阳"！ 市场全天低开回升，三大指数涨跌互现，沪指录得8连涨。截至收盘沪指涨0.13%，深成指跌0.16%，创业板指涨 0.09%。 市场共3127只个股上涨，99只个股涨停，2039只个股下跌。 | 880005 涨跌家数 | | | | --- | --- | --- | | 日中 | 涨停 | 99 | | 涨幅 | > 7% | 144 | | 沿墙 | 5-7% | 101 | | 涨幅 | 3-5% | 273 | | 张唱 | 0-3% | 60992 | | 跌幅 | 0-3% | 1886 | | 跌幅 | 3-5% | 118 | | 跌幅 | 5-7% | 25 | | 跌幅 | > 7% | 11 | | 其中 跌停 | | 12 | | 上涨家数 | | 3127 | | 下跌家数 | | 2039 | | 平盘停牌 总品种数 | | 246 | | | | 5412 | | 总成交额 | | 10304.16亿 | | 总成交量 | | 89001.0万 | | 涨家增减 | | 4 ...

⑧【谷歌据悉在英国面临50亿英镑的诉讼】据外媒报道，谷歌在英国面临50亿英镑的诉讼，因其在搜索 领域滥用"近乎完全的主导地位"。 ④【黄金股盘前集体大涨，哈莫尼黄金、金田涨超8%】4月16日，COMEX期货黄金升破3300美元/盎 司，续刷历史新高。美股黄金股盘前集体上涨，其中，哈莫尼黄金、金田涨超8%，Anglogold涨超6%， 金罗斯黄金、科尔黛伦矿业涨超4%。 ⑤【特斯拉两款车型零部件采购计划遭搁置】4月16日，外媒援引知情人士消息称，特斯拉原计划从中 国向美运输Cybercab和Semi纯电动卡车的零部件，但该计划已被搁置。截至发稿，特斯拉跌2.4%。 ⑥【路威酩轩集团考虑涨价以应对关税】全球最大奢侈品集团路威酩轩集团（LVMH）披露的一季度业 绩低于预期。在业绩电话会上，路威酩轩集团管理层表示，集团考虑通过涨价来应对美国的关税，并计 划控制管理及行政费用和市场营销成本。 ⑦【杰富瑞：强势美元时代已经见顶】投行杰富瑞集团首席经济学家莫希特•库马尔（Mohit Kumar）在 一份报告中表示，强势美元的时代已经见顶，美元可能会进一步走软。随着各国央行寻求减少对美元的 依赖，黄金价格可能会受益。 每经记 ...

Report Summary 1. Industry Investment Rating - The document does not mention the industry investment rating. 2. Core Viewpoints - On April 2nd, the monthly contracts of the four major stock index futures showed mixed trends. IF fell 0.08%, IH fell 0.18%, IC rose 0.24%, and IM rose 0.5% [1]. - On this trading day, the total trading volume of stock index futures declined, indicating a cooling of investors' trading enthusiasm. In terms of positions, the total positions of IF and IH increased, while those of IC decreased, and IM increased [2]. - The market showed an overall trend of rising and then falling, with the three major indexes slightly up. The trading volume of the Shanghai and Shenzhen stock markets hit the second - lowest level this year, and the main funds had a net outflow of 969.2 million yuan [8]. 3. Summary by Relevant Catalogs 3.1 Stock Index Futures Data - **IF Futures**: The closing prices of IF2504, IF2505, IF2506, and IF2509 all declined, with decreases of 0.08%, 0.03%, 0.07%, and 0.05% respectively. The trading volume of each contract decreased, while the positions increased. The basis was negative for all contracts [1]. - **IH Futures**: The closing prices of IH2504, IH2505, IH2506, and IH2509 all declined, with decreases of 0.18%, 0.18%, 0.17%, and 0.16% respectively. The trading volume of most contracts decreased, and the positions showed a mixed trend. The basis was positive for some contracts and negative for others [1]. - **IC Futures**: The closing prices of IC2504, IC2505, IC2506, and IC2509 all rose, with increases of 0.24%, 0.28%, 0.30%, and 0.40% respectively. The trading volume of most contracts decreased, and the positions also decreased. The basis was negative for all contracts [1]. - **IM Futures**: The closing prices of IM2504, IM2505, and IM2506 all rose, with increases of 0.50%, 0.41%, and 0.49% respectively. The trading volume of IM2504 decreased, while that of IM2505 increased. The positions increased. The basis was negative for all contracts [1]. 3.2 Trading Volume and Positions - The total trading volume of IF decreased by 6,516 lots, IH decreased by 2,708 lots, IC decreased by 14,127 lots, and IM decreased by 20,972 lots. The total positions of IF increased by 3,099 lots, IH increased by 1,650 lots, IC decreased by 2,379 lots, and IM increased by 5,883 lots [2]. 3.3 Top 20 Member Positions - For IF futures, the changes in long and short positions of different contracts varied. For example, in IF2504, long positions increased by 145 lots and short positions increased by 233 lots [5]. - For IH futures, the changes in long and short positions of different contracts also showed differences. For example, in IH2504, long positions increased by 168 lots and short positions increased by 191 lots [5]. - For IC futures, the long and short positions of different contracts had different trends. For example, in IC2504, long positions decreased by 109 lots and short positions increased by 369 lots [5]. - For IM futures, in IM2504, long positions increased by 1,746 lots and short positions increased by 1,891 lots [5]. 3.4 Market Impact Factors - Trump announced a national emergency, imposing a comprehensive tariff with a 10% "minimum benchmark tariff" and higher tariffs on countries with the largest trade deficits with the US. The market had a complex reaction to this news [6]. - The 2025 working meeting of the Inter - ministerial Joint Conference on Alleviating the Burden on Enterprises emphasized measures to address issues such as arrears to enterprises and high costs [6]. - The General Office of the Communist Party of China Central Committee and the General Office of the State Council issued the "Opinions on Improving the Price Governance Mechanism" [7]. 3.5 A - share Market - The Shanghai Composite Index rose 0.05% to close at 3,350.13 points, the Shenzhen Component Index rose 0.09%, the ChiNext Index rose 0.13%, the Beixin 50 rose 0.52%, the Kechuang 50 fell 0.16%, the Wind All - A rose 0.07%, the Wind A500 fell 0.14%, and the CSI A500 fell 0.13%. The A - share trading volume was 99.2703 billion yuan, lower than the previous day's 1.15 trillion yuan [7]. - The Shanghai Composite Index rose slightly with shrinking volume, and the market trading was light. There was no obvious main line in the market. Robot concept stocks rebounded, auto parts concepts led the gains, pharmaceutical stocks rose and then fell, computing power concept stocks strengthened locally, while military stocks and gold stocks declined [7].

一、指数表现：低开高走，小幅反弹 今日A股三大指数呈现低开高走态势，最终小幅收涨。沪指涨0.15%，深成指涨0.23%，创业板 指涨0.24%，北证50指数微跌0.69%16。 市场成交额较前日有所放量，全市场成交额达1.21万亿元，较昨日增加366亿元，但早盘仍存 在缩量震荡的特征12。 个股涨跌分化明显，全市场超1900只个股上涨，但热点板块表现差异较大。 二、板块分化：科技与周期齐涨，部分题材承压 领涨板块 光刻机与半导体： 光刻机概念表现活跃，新莱应材"20cm"涨停，芯碁微装涨超12%，带动电 子化学品、半导体板块走强。 消息层面，美国将浪潮等54家中企列入实体清单。据芯智讯3月27日消息，当地时间2025年3月 25日，美国商务部工业与安全局（BIS）以从事有悖于美国国家安全和外交政策利益的活动为 由，在联邦公报上刊发两份文件，宣布将来自中国的54家实体新增至"实体清单"（Entity List）。 能源设备与贵金属： 深海科技、风电设备等板块走低，市场对高估值题材的抛压显现。 三、资金动向：ETF活跃，外资关注港股 ETF市场异动： 新经济ETF单日涨6.59%，港股创新药相关ETF（如恒生医疗 ...

我们不是资讯的搬运工 而是有态度的发现者 2. 香港证监会发布香港虚拟资产市场监管路线图 3. 上海:经过5年努力中心城公共交通机动化出行分担率不低 于50% 二、行业最新动态 1. 广东推动人工智能与机器人领域立法 机器人行业政策支持不 断,相关个股:光莆股份(300632)、华中数控(300161)等 2. 中国信通院启动多模态智能体技术规范编制 AI智能体迎爆发元 年,相关个股:中控技术(688777)、能科科技(603859)等 3. 知名厂商实施涨价 机构看好存储行业周期复苏,相关个股: 万润科技(002654)、朗科科技(300042)等 万和财富早班车 2025年3月12日 | ● 国内金融市场 ● | | | ● 股指期货 · | | | | --- | --- | --- | --- | --- | --- | | 品种 | 收盘 | 涨跌幅 | 品种 | 收盘 | 涨跌幅 | | 上证指数 | 3379.83 | 0.41% | 上证当月连续 | 2675.40 | 0.47% | | 深证成指 10861.16 | | 0.33% | 沪深当月连续 | 3930.00 | 0.37% | ...

文 ｜ 徐涛 王子源 夏胤磊 ASML计划在北京建设维修中心，其中包括零部件的本土化采购，我们预计将利好国内光刻机零部 件公司。我们认为光刻机作为半导体领域核心"卡脖子"环节之一，国产替代势在必行，市场信心将 持续增强。我们持续看好国产光刻机及先进制程产业链。 ▍ ASML计划在北京建设维修中心，其中包括零部件的本土化采购，我们预计将利好国内光刻机 零部件公司。 ▍ 风险因素： 技术路线革新，先进技术创新不及预期，国际产业环境变化和贸易摩擦加剧风险，政策支持力度 不及预期，下游需求波动等。 ▍ 投资策略： 2 0 2 5年3月5日，ASML公布了以"携手推进技术向新"为主题的2 0 2 4年度报告，其中提到2 0 2 5年 拟布局北京维修中心、缓解出口管制对中国大陆客户设备维护的压力，保障中国客户的维保和替 代需求。除了维修零部件之外，ASML此前还在国内组建了采购团队，以便解决一些本地不能维 修的零部件需要更换的问题，其中就包括一些零部件的本土化采购，目的是保证客户设备的运转 不会受到出口管制的影响。我们认为，此前市场关于光刻机断维保的担忧有所减弱，此外我们预 计新的维修中心将开始配套采购国产零部件，对于国 ...

Market Overview - The A-share market showed a mixed performance with the Shanghai Composite Index down by 0.12%, while the Shenzhen Component and ChiNext Index rose by 0.36% and 1.20% respectively. The total market turnover was 16,645 billion, a decrease of 2,413 billion from the previous day [2][12]. Industry Highlights - Solid-state batteries continued to surge, with expectations for small-scale production by 2027 and large-scale production by 2030. Leading battery manufacturers and vehicle manufacturers are aligning their production schedules accordingly [2][10]. - The photovoltaic industry saw price adjustments from leading component manufacturers, with price increases ranging from 0.01 to 0.03 yuan/W, and auxiliary materials like glass and films experiencing price hikes of 5% to 15% [2][10]. - The nuclear fusion sector gained attention, with companies like China Nuclear Engineering announcing significant investments in fusion energy projects, aiming for commercial operation around 2045 [3][10]. Financial Insights - Major financial institutions like Goldman Sachs and Bank of America have adjusted their forecasts for the Chinese yuan, reflecting a more stable outlook despite ongoing tariff risks. Goldman Sachs revised its three-month forecast for the yuan to 7.3 from 7.4 [6][10]. - The net outflow of funds from the electronic sector was significant, with major stocks like ZTE Corporation leading the outflow. Conversely, sectors such as electric equipment and non-ferrous metals saw net inflows [12][21]. Real Estate Trends - In February, the second-hand housing market in major cities like Beijing, Guangzhou, and Shanghai experienced significant year-on-year increases in transaction volumes, with Beijing's net signing volume up by 87.6% [8][10]. Investment Opportunities - The low-altitude economy is gaining traction, with a recent event in Guizhou signing 20 projects worth 10.55 billion, indicating potential growth in this sector [9][10]. - The robotics industry is set for growth, with a government action plan aiming for breakthroughs in key components and technologies by 2027, targeting the establishment of over 100 billion yuan enterprises [7][10].