Group 1 - The core viewpoint is that the market is currently experiencing fluctuations, and investors should consider taking profits from positions established before the holiday, particularly in sectors like robotics and AI applications [1][4][17] - The robotics sector gained significant attention during the Spring Festival, but the Hong Kong stock market indicates that it is more suitable for short-term speculation rather than long-term investment at this time [2] - The AI application market in China is not showing significant breakthroughs, while Hong Kong stocks related to AI are performing strongly, suggesting potential opportunities for profit-taking [3][4] Group 2 - Gold and silver prices experienced volatility during the holiday, initially declining but later rising due to geopolitical tensions and changes in U.S. policy, indicating a potential for further gains [5][8] - The Hang Seng Index and the Hang Seng Tech Index showed mixed performance, with no clear upward or downward trend, suggesting a cautious approach to investment in these indices [9][12] - U.S. stock markets, including the Dow Jones and Nasdaq, exhibited narrow fluctuations, with technology stocks underperforming, which may impact the sentiment in the A-share market [13][16] Group 3 - The overall strategy suggests that investors should partially reduce their positions on Tuesday to secure profits from pre-holiday investments, while remaining observant of market trends and potential opportunities in the following days [17]

来源：每日经济新闻 马年，我们都在祝亲朋好友"马上有福"。 那么这一次，A股哪些方向有望"马上就涨"？ 本文将大致以热点板块为脉络，先结合春节假期的消息面带大家梳理。 （1）贵金属 2月22日，国际金价重新站上5100美元/盎司关口，2月23日交易时段继续逼近5200美元关口。 经过多日休整，明天（2月24日），A股即将开启农历马年行情。 截至2月13日，万得全A周K线 和过去的多个长假一样，A股休市期间，宏观、外围乃至各个行业的消息面依然爆棚。不论乐观还是悲 观，节前参与"埋伏"的资金终于盼来了开奖时刻。 | | F9 不复权 超级叠加 画线 工具 안 | 伦敦金现 | | SPTAUUSDOZ | | --- | --- | --- | --- | --- | | | 2025/07/14-2026/02/23(159日)▼ | 5160.760 | | +49.635 +0.97% | | 5598.750-> | | IDC USD 9:48:22 | | 1 . . + | | | | | 5161.970 | | | | 5500.000 | 武 | 5160.760 | | | | | 总量 | ...

每经记者｜赵云 每经编辑｜肖芮冬 经过多日休整，明天（2月24日），A股即将开启农历马年行情。 | F9 不复权 超级叠加 画线 工具 | 10 | 力得至A | | 881001 | | --- | --- | --- | --- | --- | | 2023/01/13-2026/02/13(159周)▼ | | 15:00:05 | | -77.07 -1.13% 十八 ■ ▼ 就要心指数 / ■ + | | | | 全额 | | 2.00万亿 | | | | IVANTH | | 1147.15 Z | | | | | | 6799.24 (-0.51%) | | | | 面向 | | 6832.58 (-0.02%) | | | | 最低 | | 6752.84 (-1.19%) | | | | 三次次日 | 23.2 | 古屋率比 1.91 | | 6000.00 | | 문 | 1.11% 20H | -0.21% | | | | 60日 | 7.78% 文由 | 5.41% | | | | 52周高 | 6930.17 | 52周低 4506.65 | 截至2月13日，万得全A周K线 和过去的 ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 春节期间A股停牌，港股开启节后首个交易日。港股整体出现调整，但AI应用和机器人板块逆势大涨， 这符合我之前对市场的预期，因为春晚节目中AI应用以及机器人大放异彩，大幅提升了投资者对于这 两个方向的信心。 恒生科技指数出现较大幅度回调，主要原因是恒生科技指数的成分股主要是互联网巨头，盈利主要来自 于消费层面，但当前社会消费品零售总额增速较低，消费增速低拖累这些科技互联网公司的表现。所以 过去半年，恒生科技指数出现了比较大的调整，外卖大战让资本对这些互联网巨头的"含科量"产生质 疑，很多资金从核心科技指数、一些互联网巨头中流出，寻找纯正的AI应用和机器人等科技创新板 块，这反映出一部分资金的态度。 港股首日出现较大幅度调整并不意味着马年港股没有机会，马年A股和港股都有望延续这轮慢牛、长牛 走势，继续出现较多的投资机会。去年年底我发布了2026年十大预言，明确讲到2026年美股高位波动的 风险加大，A股和港股则会延续慢牛行情的特征，出现一定的赚钱效应。我在过去十年发布了10次十大 预言，其中8次都得到了完美的验证，只有2022年和2023年这 ...

Market Outlook - The A-share market is expected to experience a low-volatility trend with a long-term decline in market volatility [2] - The upward trend in the stock market is not yet over, indicating further potential for growth [2] - A-shares are anticipated to maintain a fluctuating upward trend, with the importance of fundamentals increasing after a valuation adjustment [2][3] Capital Flow - The demand for asset allocation among domestic residents has been activated by profit effects, with various medium- to long-term funds entering the market, suggesting an active capital flow in 2026 [2][3] - Incremental capital is expected to cover a broader range, driven by increasing motivation among individual investors to enter the market [3] - Public funds and insurance capital are likely to continue increasing their allocation to equity assets, reshaping global capital flow logic [4] Key Investment Sectors - Key sectors to focus on include: - Non-ferrous metals, chemicals, and new energy [2] - Technology growth, manufacturing expansion, cyclical consumption transformation, and U.S. stocks [2] - New energy, non-ferrous metals, basic chemicals, oil and petrochemicals, non-bank financials, military industry, and machinery [3] - AI, new energy, military industry, innovative pharmaceuticals, price increase chains, and overseas expansion chains [4] - Technology innovation themes and consumption sectors [4] - TMT and advanced manufacturing sectors, with potential shifts towards cyclical and financial sectors [4]

最近港股市场分化得让人摸不着头脑：有的板块借着消息单日大涨超20%，有的却在热门行情里突然跳水。身边有朋友看到AI应用股走强就追进去，结果刚 买就遇上震荡；还有人看到互联网科技股普跌，慌慌张张割了肉，转头就看着其他相关板块涨起来。其实很多人都陷入了同一个主观误区：把新闻消息直接 等同于涨跌信号，凭着直觉追涨杀跌，却从来没思考过，消息背后到底是谁在主导交易。今天就结合真实的市场情况和量化大数据，聊聊怎么跳出这种直觉 陷阱，建立更靠谱的投资思维。 图里的橙色柱体是「机构库存」数据，它反映的是机构资金有没有积极参与交易。消息出来后，虽然股价先涨后跌，但「机构库存」数据从消息公布第三天 就开始活跃，甚至在股价调整的时候，数据还在不断增加——这说明机构资金一直在积极参与，所谓的"利空下跌"只是表面的诱骗。我们的直觉之所以错， 是因为把消息当成了结果，却没意识到，消息只是机构用来博弈的工具，真正决定走势的是机构的交易态度。二、利好兑现反而跌，真的是"见光死"吗？ 还有更反直觉的情况：有只个股公布中报，净利润暴增8倍，妥妥的超级利好，但股价反而跌了近10%。当时行情整体火爆，身边有人觉得这是"黄金坑"， 赶紧抄底，结果套了 ...

Group 1 - The Hong Kong stock market experienced a collective decline on the first trading day of the Year of the Horse, with the Hang Seng Index falling by 1.10% to 26,413.35 points and the Hang Seng Tech Index dropping by 2.91% to 5,211.50 points [1] - Oil stocks in Hong Kong showed resilience, with China Petroleum gaining 3.70% and China National Offshore Oil Corporation rising by 2.23% amid ongoing uncertainties regarding the US-Iran negotiations [1] - The performance of robotics stocks surged, with companies like Yujian rising over 21%, Sutenju Chuang increasing by over 9%, and Ubtech gaining over 4% following a notable showcase at the 2026 Spring Festival Gala [1] Group 2 - AI application concept stocks saw significant gains, with Zhipu rising over 42%, Haizhi Technology Group increasing by over 26%, and MiniMax up by over 14% [2] - The Seedance 2.0 model made its debut at the Spring Festival Gala, showcasing its capabilities in visual production, which sparked widespread discussion online [2] - Recent upgrades to Shuguang SothisAI have enabled comprehensive integration of major domestic AI models, streamlining the construction and operation processes of enterprise AI platforms [2]

Market Overview - The Hong Kong stock market indices experienced a collective decline, with the Hang Seng Index falling by 1.1% to 26,413.35 points, the Hang Seng Tech Index down by 0.9%, and the National Enterprises Index decreasing by 1.55% [1][8] - Technology stocks saw widespread losses, with Baidu dropping over 6%, Alibaba nearly 5%, and Tencent over 2% [1][8] Sector Performance - Despite the overall market downturn, large model and robotics concept stocks surged, with Zhihui rising nearly 43%, MINIMAX increasing over 14%, and both companies' market capitalizations surpassing HKD 300 billion [1][8] - Other notable gains included Yujian up over 21%, Shoucheng Holdings nearly 12%, Sanhua Intelligent Control over 5%, and UBTECH close to 5% [1][8] Real Estate Sector - Some local real estate stocks showed strength, with Hysan Development and Swire Properties B rising over 3%, and Crown Property Trust and Hang Lung Properties increasing over 2% [2][9] - Analysts from Goldman Sachs have upgraded their forecast for Hong Kong property prices from a 5% increase to a 12% increase for the year, citing favorable government visa and immigration policies, a 20% rise in rents over the past three years, and lower mortgage rates encouraging residents to consider buying instead of renting [2][9] Robotics and AI Sector - The robotics sector saw significant growth, with Yujian rising over 19%. The recent CCTV Spring Festival Gala showcased various humanoid robot startups, contributing to heightened interest in the sector [3][10] - Douyin e-commerce reported a staggering 1680% year-on-year increase in GMV for robot products from February 16 to 18, with order volume up 655% [5][12] - AI application stocks also performed well, with Zhihui increasing over 19% following the announcement of a "computing power partner" recruitment plan aimed at optimizing their GLM-5 model [6][14]

Market Overview - The Hong Kong stock market indices experienced a collective decline, with the Hang Seng Index down by 0.61% to 26,544.12 points, the Hang Seng Tech Index down by 2.28%, and the National Enterprises Index down by 0.59% [1][2] Sector Performance - Technology stocks faced significant losses, with Baidu and Bilibili dropping over 5%, Alibaba and NetEase down over 3%, and Xiaomi and Kuaishou down over 2% [1] - Conversely, oil stocks showed resilience, with PetroChina rising over 4% amid geopolitical tensions in the Middle East [2] - The robotics sector saw a surge, particularly with Yujian rising over 19% following a strong performance during the Chinese New Year Gala [3][4] AI and Robotics Stocks - AI application stocks also experienced notable gains, with Zhiyu rising over 19% after announcing a "computing power partner" recruitment plan aimed at optimizing their GLM-5 model [4][5] - The sales of robotic products on Douyin e-commerce saw a significant increase, with GMV growing by 1680% and order volume increasing by 655% from February 16 to 18 [3]

Market Overview - The Hong Kong stock market opened lower, with the Hang Seng Index down 0.18%, the Hang Seng Tech Index down 0.69%, and the Hang Seng China Enterprises Index down 0.19% [1][18] - The market continued to decline, with the Hang Seng Index dropping over 1% and the Hang Seng Tech Index reaching a decline of 2.7% at one point [1][18] - By the time of reporting, the major indices had narrowed their losses but remained predominantly in the red [1][18] Sector Performance - The media and consumer sectors experienced widespread declines, with notable drops in companies such as DaMai Entertainment (over 6%), NetEase Cloud Music (over 5%), and Tencent Music (nearly 4%) [2][21] - Conversely, sectors such as oil and petrochemicals, semiconductors, and enterprise services showed resilience, with AI applications gaining significant traction [2][20] AI Sector Highlights - The AI application sector continued its upward momentum, with HaiZhi Technology Group surging over 28% to a peak price of 154.4 HKD per share, marking a new high since its listing [10][27] - ZhiPu Technology's stock reached a peak of 635 HKD per share, reflecting a 25% increase, with a total market capitalization exceeding 270 billion HKD [11][29] - MINIMAX also saw a strong performance, rising over 15% to a peak of 980 HKD per share [30][31] Investment Insights - Recent developments in AI technology, including the integration of major models like ZhiPu GLM-5 and Alibaba Qwen3.5, are expected to enhance the capabilities of enterprise AI platforms [32][33] - The AI sector is witnessing a dual trend of technological breakthroughs and intensified commercial competition, supported by national strategies promoting "Artificial Intelligence+" [33]