Group 1 - The company focuses on core business in precious metal materials and emphasizes development opportunities in aerospace and other fields [2] - The business planning and layout align with industry development trends and the company's strategic direction [2]

从A股市场的整体表现来看，指数窄幅震荡与个股活跃并存的特征十分明显。尽管主要股指涨跌互现，但市场广度尚可，沪深两市超过3500只个股上涨，显 示出良好的赚钱效应。不过，市场的活跃并未伴随着成交量的同步放大，两市成交额较前一日显著缩量至2.71万亿元，这一方面可能意味着在经过前期快速 上涨后，部分增量资金入场步伐趋于谨慎；另一方面也表明市场抛压在当前位置有所减轻，持股心态相对稳定。这种"缩量整理、个股活跃"的格局，通常被 视为在关键点位进行整固、积蓄后续力量的常见形态。 | AH 港股 | 美股 | 全球 | 基金 外汇 | | 期 | | --- | --- | --- | --- | --- | --- | | 沪深 | 北证 | 板块 | 科创 | | 沪深: | | 上证指数 | | 深证成指 | | 创业板指 | | | 4114.00 | | 14294.05 | | 3337.61 | | | +12.09 +0.29% | | +12.97 +0.09% | | -23.41 -0.70% | | | G | | F | | | | | 新股新债2 | 雪球热股 | 开户 | 选股策略 | | ...

今天压制指数的核心仍是权重指标股，因宽基 ETF 的主要成分股以大盘蓝筹为主，尤其是沪深 300ETF，其成分股中蓝筹股占比更高。 事实上，金融股今天依旧扮演了压制指数的角色，银行、保险、证券板块盘中均对指数形成拖累。相比 之下，今天涨幅居前的板块包括贵金属、电网设备，以及"卷土重来"的商业航天板块。 值得一提的是，周末多项消息指向题材股与概念股的过度炒作已引发监管关注，商业航天板块更是被媒 体点名。但身处其中的主力资金却反其道而行之，午后发力拉升推动板块强劲反弹，使其跻身涨幅榜前 列，当日资金净流入 22 亿元。 不过这一资金规模与该板块此前火爆时相比，仍有明显差距，仅能看出主力资金在板块内的短期运作。 今天调整幅度较大的板块集中在通讯设备、互联网服务、软件开发、文化传媒、半导体、游戏等领域， 整体来看 TMT 板块及 AI 应用板块全线回落，资金流出迹象显著。 A 股今天盘中三次跳水，每一次均与宽基 ETF 巨量砸盘密切相关。无论是中证 1000ETF、中证 500ETF，还是沪深 300ETF，均在关键节点对大盘起到了调控作用。 不过客观而言，这种调控基本点到为止。因此，上证指数全天运行于昨天收盘价之上 ...

截至日间收盘，内盘基本金属集体下跌，且除了沪铜、沪铝外，其余金属跌幅均超1%，沪锡以高达 5.98%的跌幅领跌，沪铅跌2.33%，沪锌跌1.91%，沪镍跌1.42%。氧化铝主连跌1.19%，铸造铝主连跌 0.11%。 此外，碳酸锂主连跌3.83%，工业硅主连涨1.61%，多晶硅主连涨0.63%。欧线集运主连跌1.77%报 1132.2。 来源：上海有色网 金属市场： 【国家统计局：2026年我国有基础、有条件保持经济稳定向好运行】国家统计局局长康义在国新办新闻 发布会上表示，从开年以来，生产价格预期都出现了积极变化，经济稳中有进的态势在持续。2025年12 月份，规模以上服务业增加值、服务业生产指数同比增速均比上月有所加快；核心CPI涨幅也连续4个 月保持在1%以上，PPI同比降幅收窄，环比连续三个月回升；制造业PMI和非制造业商务活动指数双双 重回扩张区间。从政策支撑看，国常会部署实施财政金融协同的一揽子政策。扩大内需，"两新"政策也 在不断优化，这些都为今年经济的起步创造了有利条件。从2026年全年看，我国经济长期向好的支撑条 件和基本趋势没有改变，高质量发展的大势没有改变，有基础、有条件保持经济稳定向好 ...

Market Overview - A total of 88 stocks hit the daily limit up, while 20 stocks faced limit down, resulting in a sealing rate of 60% [1] - The Shanghai Composite Index rose by 0.29%, and the Shenzhen Component Index increased by 0.09%, while the ChiNext Index fell by 0.7% [1] - The total trading volume in the Shanghai and Shenzhen markets was 2.71 trillion yuan, a decrease of 317.9 billion yuan compared to the previous trading day [1] Stock Performance - Fenglong Co. achieved a 14-day consecutive limit up, while Xinhua Department Store reached a 4-day consecutive limit up [1] - Jia Mei Packaging and Victory Energy had 15 limit ups in 22 days, and Youbang Ceiling achieved 9 limit ups in 13 days [1] - The market saw over 3,500 stocks rise, with leading sectors including power grid equipment, military industry, robotics, and precious metals [1] Sector Analysis - The power grid equipment sector continued its strong performance, with significant projects announced by the State Grid, including the construction of 42 ultra-high voltage projects by the end of 2025 [5] - The robotics sector remained strong, driven by favorable industry news, including the appointment of a former Tesla executive [6] - The commercial aerospace sector showed signs of recovery, with several companies initiating IPO processes, leading to a rebound in related stocks [7] - Precious metals prices reached historical highs, with gold surpassing $4,690 and silver exceeding $94 per ounce, positively impacting the sector [8] Future Outlook - The market exhibited mixed performance, with the Shanghai Composite Index recovering from a four-day decline, while the ChiNext Index faced pressure from AI hardware and software [9] - Despite over 3,500 stocks rising, there were still over 20 non-ST stocks hitting the limit down, indicating that bearish momentum has not fully dissipated [9] - The Shanghai Composite Index is currently facing resistance from the 5-day moving average, suggesting that short-term adjustment trends may continue [9]

特朗普宣布2月1日对欧洲8国(丹麦、挪威、瑞典、法国、德国、英国、荷兰和芬兰)出口至美国的所有 商品加征10%的关税，6月1日起关税加征25%。随后，欧盟准备征收930亿欧元关税，以暴富特朗普对 于格陵兰的威胁。 【机构观点】 基于当前市场环境，贵金属板块整体或将面临承压调整的局面。核心压力主要来自美元指数的持续强势 与市场对美联储首次降息时点进一步后延的预期，这两者直接削弱了无息资产黄金的持有吸引力，并对 整个板块形成估值压制。同时，全球宏观经济数据的韧性，特别是美国制造业与就业市场的表现，暂时 降低了贵金属的避险需求。尽管地缘政治风险仍构成底部支撑，但在上述主导逻辑下，金价可能率先进 入高位震荡，而工业属性更强的白银、铂金、钯金则因受全球工业增长预期放缓、特别是汽车产业需求 疲软的牵连，其调整压力或将更为显著。 【黄金期货行情表现】 1月19日，沪金主力暂报1048.88元/克，涨幅1.54%，今日沪金主力开盘价1032.64元/克，截至目前最高 1050.40元/克，最低1018.78元/克。 【宏观消息】 ...

Investment Rating - The industry is rated as "stronger than the market," indicating an expected increase of over 10% in the industry index relative to the CSI 300 index over the next six months [17]. Core Views - The A-share market experienced a low opening followed by a slight upward trend, with significant performance in sectors such as electric grid equipment, precious metals, aerospace, and general equipment, while sectors like internet services, cultural media, communication equipment, and software development showed weaker performance [2][3]. - The average price-to-earnings (P/E) ratios for the Shanghai Composite Index and the ChiNext Index are currently at 16.80 times and 53.52 times, respectively, which are above the median levels of the past three years, suggesting a suitable environment for medium to long-term investments [3][16]. - The total trading volume on the two exchanges was 27,325 billion, which is above the median trading volume of the past three years, indicating robust market activity [3][16]. - The central bank's recent actions, including structural tools and interest rate cuts, signal a commitment to support economic transformation and boost market confidence [3][16]. - Regulatory measures are being implemented to encourage long-term capital inflow while maintaining market stability through adjustments in margin trading and transaction regulations [3][16]. - The market is expected to focus on performance and industry trends in the upcoming phase, with a likelihood of the Shanghai Composite Index maintaining a slight upward trend [3][16]. Summary by Sections A-share Market Overview - On January 19, the A-share market opened low but rose slightly, with the Shanghai Composite Index facing resistance around 4,126 points. The index closed at 4,114.00 points, up 0.29%, while the Shenzhen Component Index closed at 14,294.05 points, up 0.09% [7][8]. - Over 70% of stocks in the two markets rose, with notable gains in precious metals, electric grid equipment, aerospace, and tourism sectors, while sectors like communication equipment and internet services saw declines [7][9]. Future Market Outlook and Investment Recommendations - The report suggests that investors should closely monitor macroeconomic data, changes in overseas liquidity, and policy developments. Short-term investment opportunities are recommended in electric grid equipment, aerospace, precious metals, and general equipment sectors [3][16].

证券之星消息，1月19日贵金属板块较上一交易日上涨4.18%，四川黄金领涨。当日上证指数报收于 4114.0，上涨0.29%。深证成指报收于14294.05，上涨0.09%。贵金属板块个股涨跌见下表： | 代码 | 名称 | | 主力净流入(元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入(元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 600489 | 中金黄金 | | 3.42 Z | 14.61% | -9769.86万 | -4.17% | -2.45 Z | -10.44% | | 600547 | 山东黄金 | | 3.01亿 | 14.26% | -3790.13万 | -1.80% | -2.63 Z | -12.46% | | 001337 四川黄金 | | | 2.36 Z | 16.76% | -5057.81万 | -3.60% | -1.85 Z | -13.16% | | 600988 | 赤峰黄金 | | 1.89 Z | 8.25% | -5769.90万 ...

Core Viewpoint - The report from CICC indicates that the Trump administration's decision to postpone tariffs on critical minerals may lead to a cooling of speculative sentiment in the precious metals market, with a more stable upward movement expected for gold prices this year [1] Group 1: Precious Metals Market Dynamics - The prices of precious metals like silver and gold have shown strong performance since December, driven by expectations of Federal Reserve rate cuts and inventory tightness during delivery periods [1] - Silver inventory at the London Bullion Market Association (LBMA) increased to 27,800 tons by the end of last year, but actual inventory levels remain constrained due to simultaneous increases in U.S. and European silver ETFs [1][2] - The market anticipates the U.S. government's tariff policy on critical minerals to be finalized soon, with a significant increase in actual delivery demand for COMEX silver futures observed in early January [2] Group 2: Geopolitical and Economic Factors - Global macroeconomic uncertainties and geopolitical risks have led to a rise in safe-haven trading, supporting demand for precious metals [2] - The Trump administration's announcement on January 14 to delay tariff decisions may reduce short-term trade disruption risks, potentially cooling speculative sentiment in the silver market [3] Group 3: Future Outlook for Gold and Silver - CICC believes that gold prices may experience a more stable upward trend compared to silver, with potential adjustments providing investment opportunities [4] - The market's cautious pricing of interest rate cuts by the Federal Reserve suggests limited adjustment space for gold, while silver faces ongoing inventory concerns and tariff risks, indicating greater price volatility [4]

每经编辑｜吴永久 周一，上证指数有所企稳，盘面上，电网设备、贵金属、燃气轮机板块涨幅居前。截至收盘，沪指涨0.29%，收报4114.00点。沪深京三市成交额27325亿 元，较上周五缩量3243亿元。 燃气轮机的下游为电力、石油化工、交通运输等应用领域。目前燃气轮机行业处于供不应求阶段，全球燃气轮机三巨头订单大幅增长。 消息面上，1月15日至16日，中国航发"太行7"燃气轮机创新发展示范项目、"太行15"燃气轮机创新发展示范项目、"太行110"重型燃气轮机创新发展示范 项目成功完成国家能源局燃气轮机创新发展示范项目评估验收。 由每日经济新闻App举办的掘金大赛第82期比赛于1月19日开始，周一是开赛首日，多位选手跑步入场，他们抓住了行情机会。比赛报名时间为1月17日到 1月30日，比赛时间为1月19日到1月30日。大赛为模拟炒股，模拟资金50万元。每期比赛结束，正收益就获现金奖励！报名就拿福利！冲刺月度积分王大 奖！ 报名方式： 首先下载每日经济新闻App，然后打开每日经济新闻App，点击页面最下方的"私人订制"，点击主页上的"掘金大赛"，点击"免费参赛"，然后输入参赛昵 称，就能报名了。需要注意的是，只有在 ...