再创收盘历史新高 贵金属方面，市场对美联储本月降息预期升温的同时，也更加看好"鸽派"的白宫国家经济委员会主任哈 西特被提名为下任美联储主席的前景。外界预计，一旦哈西特出任美联储主席，美联储将在明年继续推 进宽松货币政策，国际金价周一上涨，并升至六周来的高位。截至收盘，纽约商品交易所明年2月交割 的黄金期价收于每盎司4274.8美元，涨幅为0.47%。 12月1日白银期价上涨 来源：南国今报 当地时间周一（12月1日），市场对美联储12月降息的预期仍在升温，同时，随着美日利息差收窄，大 量套息交易资金逐步平仓日本海外头寸，加剧全球风险资产价格下跌风险。此外，周一公布的最新数据 显示，美国11月供应管理协会制造业采购经理人指数（PMI）为48.2，低于预期，并连续第9个月陷入萎 缩区间，令市场谨慎看待美国经济基本面，投资者情绪受到打压，美国三大股指周一集体收跌。截至收 盘，道指跌0.90%，标普500指数跌0.53%，纳指跌0.38%。 12月1日国际金价升至六周来高位 此外，白银期价周一延续上周涨势，并再创收盘历史新高。截至收盘，纽约商品交易所明年3月交割的 白银期价收于每盎司59.142美元，涨幅为3.46% ...

新华财经北京12月2日电最新数据显示，英国通胀压力虽在11月继续缓解，但私营部门对经济前景的悲 观情绪同步加剧，凸显当前复苏基础依然脆弱。 根据英国零售业联盟（BRC）周二发布的数据，11月商店价格年通胀率进一步放缓至0.6%，低于10月 的1%。这一回落主要受"黑色星期五"促销活动提前启动影响。其中，食品价格通胀从10月的3.7%降至 3%，新鲜食品价格更创下自2020年12月以来的最大降幅。然而，油类、肉类和鱼类等品类价格仍在加 速上涨，反映出生产商正将更高的成本转嫁给零售商与消费者。 尽管整体物价趋缓，零售业联盟警告称，由于2026年多项成本预计上升，零售商可能难以持续压低价 格。该判断与英国国家统计局此前公布的10月消费者价格指数（CPI）同比上涨3.6%形成呼应。英国央 行曾指出，食品价格在塑造公众通胀预期方面具有关键作用，其后续走势备受关注。 调查还指出，全年持续存在的增长阻力——包括家庭及客户的谨慎消费行为，以及企业面临的高成本压 力——正加剧经济疲软态势。在此背景下，企业预计将在未来三个月内减少招聘。 （文章来源：新华财经） 与此同时，英国工业联合会（CBI）最新行业调查揭示出企业端的深度忧虑 ...

Core Viewpoint - In November 2025, A-share listed companies in China executed 9 private placements, a decrease of 36% year-on-year, while the actual fundraising amount reached approximately 34.461 billion yuan, an increase of 147% year-on-year [1][2]. Group 1: Fundraising Activities - A total of 9 private placements were completed in November 2025, with a total fundraising amount of approximately 34.461 billion yuan, marking a year-on-year increase of 147% but a month-on-month decrease of 8% [2][4]. - The top three companies by fundraising amount were: - Yuanda Environmental Protection raised 23.576 billion yuan by issuing 359,938.93 million shares at 6.55 yuan per share [4][5]. - Hushi Silicon Industry raised 6.716 billion yuan by issuing 44,740.55 million shares at 15.01 yuan per share [4][5]. - Hubei Energy raised 2.9 billion yuan by issuing shares at 4.85 yuan per share [4][5]. Group 2: Planned Fundraising - In November 2025, 29 private placement proposals were disclosed, with a planned fundraising amount of approximately 28.779 billion yuan, reflecting a year-on-year decrease of 34.53% [1][6]. - The companies with the largest planned fundraising amounts included: - Energy-saving Wind Power with a maximum of 3.6 billion yuan for green power projects [9][11]. - Shengxin Lithium Energy and Demingli, each planning to raise 3.2 billion yuan for various projects [9][11]. Group 3: Industry Distribution - The industrial sector led the fundraising activities with 3 completed placements totaling approximately 23.919 billion yuan [6][7]. - The consumer discretionary sector also had 3 placements, but with a significantly lower total of 6.07 million yuan [6][7]. - The information technology sector followed with 2 placements, raising a total of 7.036 billion yuan [6][7].

Economic Indicators - The November manufacturing PMI is at 49.2%, showing a slight increase of 0.2 percentage points from the previous value, but still below the expansion threshold[9] - The non-manufacturing business activity index fell to 49.5%, down 0.6 percentage points, indicating a contraction in the service sector[21] - The construction sector's PMI improved to 49.6%, up 0.5 percentage points, reflecting a recovery driven by policy support[22] Price Dynamics - The PMI input price index for raw materials is at 53.6%, indicating strong price pressures, while the output price index is at 48.2%, below the expansion threshold, highlighting a disconnect in price transmission[14] - The PPI year-on-year growth is estimated to be around -2.5%, down 0.4 percentage points, indicating a divergence from the output price index[19] Profitability and Market Outlook - Industrial profits turned negative at -5.5% in October, primarily due to rising production costs and insufficient demand, which limits the ability to pass on costs to consumers[14] - The short-term economic outlook favors the bond market, with expectations of a moderate decline in interest rates due to the central bank's resumption of bond purchases[28] - Without new policy measures such as rate cuts, the equity market's recovery in industrial profits is expected to remain under pressure[28] Risks - Key risks include rising sovereign debt risks abroad, escalating geopolitical conflicts, and the potential for policy effects to fall short of expectations[3]

每经AI快讯，*ST海源（SZ 002529，收盘价：7.25元）12月1日晚间发布公告称，公司第七届第三次董 事会会议于2025年12月1日以现场结合通讯方式召开。会议审议了《关于拟聘任公司2025年度审计机构 的议案》等文件。 2025年1至6月份，*ST海源的营业收入构成为：工业占比100.0%。 截至发稿，*ST海源市值为19亿元。 每经头条（nbdtoutiao）——5年期大面积下线，3年期利率低至1.5%仍一单难求：要么"售罄"要么"额度 紧张"！中长期大额存单为何在消失？ （记者 曾健辉） ...

Company Summary - Yongguan New Materials (SH 603681) announced on December 1 that as of November 30, 2025, it has repurchased a total of 1.5258 million shares through centralized bidding, accounting for 0.798% of the company's total share capital [1] - The highest purchase price was 18.7 CNY per share, while the lowest was 12.2 CNY per share, with a total expenditure of approximately 25.1179 million CNY [1] - As of the report, Yongguan New Materials has a market capitalization of 3.4 billion CNY [1] Revenue Composition - For the year 2024, the revenue composition of Yongguan New Materials is as follows: Industrial sector accounts for 98.95%, while other businesses contribute 1.05% [1]

Report Industry Investment Rating No relevant content provided. Core Views - Overseas, the US economy still shows resilience, with the GDPNow model predicting a 3.9% annualized quarterly GDP growth rate in Q3, driven by personal consumption and net exports. Consumption momentum is slowing, and attention should be paid to the released CPI and non - farm payroll data. Driven by rising interest - rate cut expectations and Russia - Ukraine peace - talk expectations, overseas risk assets generally recovered last week [2]. - Domestically, the November PMI and October industrial enterprise profits further confirm the weakening of the economic fundamentals in Q4. The manufacturing PMI is 49.2, remaining in the contraction range for eight consecutive months. The construction and service industries are also in the contraction range. October industrial enterprise profits declined, with manufacturing and public utilities being the main drags. A - shares had a weak rebound with shrinking volume last week, and short - term shocks are expected to be weak [3]. Summary by Directory 1. Overseas Macro - **US Retail in September**: US retail sales were weaker than expected in September. Retail sales increased 0.2% month - on - month (expected 0.4%, previous 0.6%), and core retail sales increased 0.3% month - on - month, in line with expectations. Durable goods consumption was divided, and non - durable goods still showed some resilience but with obvious structural differences [4][5]. 2. Domestic Macro - **October Industrial Enterprise Profits**: From January to October 2025, industrial enterprise revenues were 113.37 trillion yuan, with a 1.8% year - on - year increase. Total profits were 5950.29 billion yuan, a 1.9% year - on - year increase, significantly lower than September's 3.2%. The single - month profit growth rate in October dropped to - 5.5%. Upstream mining profits decreased less, while mid - and downstream profits cooled significantly. Enterprises were accumulating inventory, and profit margins were the main drag on profits [9][10]. - **November Manufacturing PMI**: The November manufacturing PMI was 49.2, still in the contraction range. Supply and demand improved synchronously, with external demand improving significantly. Prices rose, and finished - product inventory decreased. The service industry's prosperity declined, and the construction industry was still struggling [12][13]. 3. Performance of Major Asset Classes - **Equities**: A - shares, Hong Kong stocks, and overseas equities showed different trends last week. For example, the Wande All - A Index rose 2.90%, the Shanghai Composite Index rose 1.40%, and the Nasdaq Index rose 4.91% [23]. - **Bonds**: Yields of domestic and overseas bonds changed last week. For example, the 1 - year Chinese Treasury bond yield decreased by 0.42 basis points, and the 2 - year US Treasury bond yield decreased by 4.00 basis points [26]. - **Commodities**: Commodity prices generally rose last week. For example, the South China Commodity Index rose 1.99%, COMEX gold rose 4.34%, and COMEX silver rose 14.37% [27]. - **Foreign Exchange**: The US dollar index declined, and exchange rates of major currencies against the RMB changed. For example, the US dollar against the RMB decreased by 0.43% [30]. 4. High - Frequency Data Tracking - **Domestic**: The report provides charts of high - frequency data such as the congestion index of 100 cities, subway passenger volume in 23 cities, and commercial housing transaction area in 30 cities [32]. - **Overseas**: The report provides charts of high - frequency data such as Redbook commercial retail sales and unemployment insurance claims in the US [37]. 5. This Week's Important Economic Data and Events - This week, important economic data and events include China's November RatingDog manufacturing PMI, euro - zone November CPI, and US November ISM manufacturing PMI [46].

今日早盘，红利板块震荡上行，截至午间收盘，中证红利价值指数上涨0.7%，中证红利低波动指数、中证红利指数均上涨0.6%，恒生港股通高股息低波动 指数上涨0.1%，恒生红利低波ETF（159545）半日净申购超1000万份。Wind数据显示，该ETF11月获近20亿元资金净流入，居全市场红利类ETF第一。 据悉，易方达基金是目前唯一一家红利类ETF全部实行低费率的基金公司，恒生红利低波ETF（159545）、红利ETF易方达（515180）、红利低波动ETF （563020）、红利价值ETF（563700）等产品管理费率均为0.15%/年，可助力投资者低成本布局高股息资产。 该指数由50只流动性好、连续分红、 红利支付率适中、每股股息正增长 以及股息率高目波动率低的股票组 成,反映分红水平高且波动率低的A 股上市公司股票的整体表现,银行、 交通运输、建筑装饰行业合计占比 超65% 截至午间收盘 该指数涨跌 恒生红利低波ETF 跟踪恒生港股通高股息低波动指 该指数由港股诵范围内50只流动性 较好、连续分红、红利支付率适中 且波动率较低的股票组成,反映分 红水平高且波动率低的港股通范围 内上市公司整体表现,金融、工 ...

Core Insights - The China Securities Index Co., Ltd. announced adjustments to several indices, including the CSI 300, CSI 500, CSI 1000, CSI A50, CSI A100, and CSI A500, with changes effective after market close on December 12 [1] - The CSI A500 index will replace 20 constituents, including companies like Invec, Guotai Junan, and Chipone, reflecting a shift towards a more balanced industry representation [1] - Post-adjustment, sectors such as information technology, communication services, and industrials will see an increase in sample numbers and weights, enhancing the index's alignment with national strategies and resource allocation [1] Industry Summary - The CSI A500 index employs a "balanced industry allocation + leading company selection" strategy, representing core assets in the A-share market [1] - Compared to the CSI 300, the A500 index has a higher allocation in sectors like AI, biomedicine, and new energy, creating a "barbell" investment structure [1] - As of Q3 2025, the CSI A500 index accounts for 52.58% of total market capitalization, 61.82% of operating revenue, and 68.16% of net profit in the A-share market [1] Fund Insights - The A500 ETF has attracted over 1.8 billion yuan in the past 20 days, highlighting its popularity among investors [2] - The fund features three key advantages: low fees (0.2% total fee), high liquidity (average daily trading volume exceeding 5 billion yuan), and a leading scale (over 20 billion yuan) [2] - Investors are encouraged to consider related products such as the A500 ETF and A500 Enhanced ETF [2]

新华财经墨西哥城11月30日电（记者翟淑睿吴昊） 墨西哥最新经济数据显示，下行压力正在快速积 聚。2025年第三季度经济增速由正转负，工业下滑拉低整体经济表现。11月26日，墨西哥央行将全年经 济增长预期由0.6%降至0.3%，并对短期通胀预期上调。综合来看，墨西哥经济当前面临"增长疲软、通 胀阻力、政策不确定"三重夹击。 三季度GDP重回负区间，工业低迷拖累整体经济 根据墨西哥国家地理统计局发布的经季节调整数据，墨西哥2025年第三季度GDP同比下降0.19%，环比 下降0.3%，年度增速为自2021年第四季度以来首次转负，也终结了此前连续17个季度的正增长。 墨央行将下调增长预期归因于三季度经济表现"明显差于预期"，尤其是工业生产下滑以及在美国关税战 背景下，对美汽车出口疲弱的影响。 墨央行也对通胀前景作出调整。其报告显示，2025年11月上半月全国年化总体通胀率为3.61%，核心通 胀率达4.32%。墨西哥央行行长维多利亚·罗德里格斯表示，鉴于经济出现产出缺口，维持当前降息周期 是符合通胀与经济走势的政策选择。 不过，并非所有经济官员对此判断认同。墨央行副行长乔纳森·希思曾公开表达异议，他指出央行长期 ...