Core Insights - Iran is facing a severe economic crisis characterized by a historic low of the Iranian rial at 42,125 rials per US dollar and a rapid inflation rate of 42.2% as of December [1] - Protests have erupted across multiple cities, including Tehran, in response to soaring inflation and currency collapse, indicating widespread public discontent [2] - The Iranian government, led by President Pezeshkian, is prioritizing economic reforms and dialogue with protesters, acknowledging the urgent need to address citizens' livelihoods [3] Economic Situation - The Iranian rial has depreciated significantly, reaching its lowest value against the US dollar, which is a critical indicator of the country's economic instability [1][3] - Inflation has accelerated to 42.2%, exacerbating the financial struggles of households and contributing to public unrest [1] Protests and Public Response - Protests have spread to various cities, including Mashhad, Kermanshah, and Hamedan, with demonstrators expressing their frustrations through marches and strikes [2] - The protests have escalated in intensity, with confrontations between demonstrators and security forces, highlighting the potential for ongoing civil unrest [2] Government Actions - President Pezeshkian has emphasized the importance of economic reform and has initiated dialogue with protest representatives to address their concerns [3] - The resignation of the central bank governor reflects the government's attempt to respond to the economic crisis and public dissatisfaction [3]

Core Viewpoint - Iran is facing a severe economic crisis characterized by a historic low of the Iranian rial at 42,125 rials per US dollar and a rapid inflation rate of 42.2% as of December, leading to widespread protests and civil unrest [1][4]. Group 1: Economic Situation - The Iranian rial has depreciated significantly, reaching its lowest value against the US dollar, which has contributed to economic chaos and financial distress for households [1][4]. - Inflation in Iran has accelerated to 42.2%, exacerbating the economic challenges faced by the population [1]. - The Iranian economy is grappling with soaring inflation, a collapsing currency, stagnant GDP growth, and capital flight due to US sanctions [4][6]. Group 2: Protests and Civil Unrest - Protests have erupted in Tehran and other cities, with demonstrators expressing their frustration over rising inflation and the currency crisis [2][3]. - The protests have spread to multiple cities, including Mashhad, Kermanshah, and Hamedan, with participants engaging in confrontations with security forces [3]. - Merchants in Tehran have vowed to extend their strikes, indicating a sustained wave of civil disobedience against the government [3]. Group 3: Government Response - Iranian President Ebrahim Raisi has stated that the government is prioritizing economic reforms and dialogue with protesters, emphasizing the importance of citizens' livelihoods [5]. - The resignation of the Central Bank Governor has been reported, with indications that the government is seeking to respond to public discontent and stabilize the situation [6]. - Raisi's administration is under pressure to demonstrate responsiveness to societal demands amid ongoing economic difficulties and protests that have persisted since 2017 [6].

Group 1 - The Hang Seng Index night futures (January) closed at 25,880 points, down 45 points or 0.174%, with a premium of 25 points [1] - The total number of open contracts was 106,714, a decrease of 2,377 contracts [1] - The net number of open contracts reported was 35,272, a decrease of 2,178 contracts [1]

Core Viewpoint - In 2025, China's economy demonstrates resilience and vitality amidst global challenges, attracting international attention and investment opportunities in various sectors, including stock markets, AI development, and soft power expansion [1] Trade Resilience - Despite ongoing U.S. tariff policies, China's goods trade has shown consistent growth, with exports expected to increase by 8% year-on-year in 2025 [2][4] - China achieved a record annual trade surplus of $1 trillion in November 2025, offsetting declines in specific markets through expanded trade with Europe, Latin America, and Africa [4] - China's export innovation and new trade dynamics are crucial for maintaining global supply chain stability, with predictions of increased global market share by 2030 [4] Artificial Intelligence Advancements - 2025 marks a pivotal year for AI, with China's DeepSeek releasing the R1 model, challenging U.S. dominance in the AI sector [5][6] - China has emerged as a leader in open-source AI, with significant competition against U.S. companies, as evidenced by the rapid development and availability of free models [6] - The influence of Chinese technology extends beyond AI into robotics and deep-sea science, showcasing a systematic advancement in various high-tech fields [5] Stock Market Performance - The total market capitalization of A-shares surpassed 100 trillion yuan for the first time in 2025, with significant returns exceeding initial predictions [7][8] - High expectations for the Chinese stock market are supported by a bullish outlook, with forecasts indicating a potential 38% increase by the end of 2027 [7] - Global investors are increasingly interested in Chinese equities, driven by strong market performance and the emergence of innovative companies like DeepSeek [8] Soft Power and Global Influence - China ranks second in the global soft power index, surpassing the UK, with cultural products like the toy "Labubu" gaining international acclaim [9][10] - The success of Chinese lifestyle brands and cultural exports reflects a shift towards China leading global trends rather than merely following them [9] - The expansion of Chinese brands into international markets, including the U.S., highlights the growing global presence of Chinese products [10] Economic Growth Outlook - Multiple international organizations have raised China's GDP growth forecast for 2025 to 5%, recognizing its role as a key stabilizer in global growth [11][12] - Consumer spending is projected to significantly contribute to economic growth, with its quarterly contribution rate rising from 29.7% at the end of 2024 to 56.6% by the third quarter of 2025 [12] - The outlook for 2026 remains positive, with expectations of continued strong performance in the technology sector driven by AI innovations and supportive policies [12]

大型科技股涨跌不一，英特尔、Meta涨超1%，微软、谷歌、亚马逊小幅上涨；特斯拉跌超1%，苹果、英伟达、奈飞小幅下跌。 纳斯达克中国金龙指数高开低走，收跌0.26%。百度涨超4%，蔚来涨超3%，网易涨近1%；京东跌近2%，金山云跌近1%。 WTI原油期货结算价收跌0.22%，报57.95美元/桶。布伦特原油期货结算价收跌0.03%，报61.92美元/桶。 12月30日晚间，在经历了一次"史诗级"的暴跌之后，白银价格又开始了暴涨模式，黄金也从纪录高位急跌"降温"后重新站稳脚跟。 截至12月31日发稿，现货白银报76.55美元/盎司，涨幅6.16%，盘中一度涨超8%；纽约白银报76.459美元/盎司，涨幅8.51%，盘中一度涨超10%。 现货黄金报4347.10美元/盎司，涨幅0.35%，盘中一度涨超1.5%。 纽约期铜一度涨4%，报5.7895美元/磅。 据媒体报道，分析师表示，本周一（12月29日）的下跌"主要是技术性因素导致：贵金属近期快速上涨后出现早期获利了结，杠杆多头被迫去杠杆，同时更 严格的保证金要求也带来额外压力。基本面并没有发生变化"。 当地时间12月30日，美股三大指数收盘均小幅下跌，纳指跌0. ...

美股多只黄金股上涨，截至22:40左右，金田、哈莫尼黄金、泛美白银涨超3%。 部分科技股走势亮眼，Meta、英特尔一度涨约2%。 纳斯达克中国金龙指数一度涨超1%。其中蔚来涨近7%，小鹏涨超5%；百度涨近6%，其港股今日收涨近9%。消息面上，据智通财经报道，美国网约车平 台Uber和Lyft宣布，已与百度达成合作，计划于2026年在英国推出无人驾驶出租车(Robotaxi)试点项目。 北京时间12月30日晚，美股三大指数小幅低开，冲高后转跌，中概股普涨。昨日跳水的贵金属集体反弹。 | 名标 | 现价 | 涨跌幅 | | --- | --- | --- | | 蔚来 | 5.710 | 6.93% | | 百度集团 | 134.130 | 5.77% | | 小鹏汽车 | 21.555 | 5.15% | | 中国苏轩堂药业 | 1.530 | 4.08% | | 禾赛科技 | 23.270 | 3.51% | | 讯言 | 7.400 | 3.06% | | 小赢科技 | 5.915 | 3.04% | | 嘉银科技 | 6.000 | 2.92% | | MICROALGO | 5.180 | 2.78% ...

记者丨刘雪莹 朱芷葵 编辑丨吴桂兴 北京时间12月30日晚，美股三大指数小幅低开，冲高后转跌 ，中概股普涨 。昨日跳水的贵金 属集体反弹。 | 道琼斯 | 纳斯达克 | 标普500 | | --- | --- | --- | | 48401.99 | 23469.69 | 6904.70 | | -59.94 -0.12% | -4.66 -0.02% | -1.04 -0.02% | | 中国金龙 | 纳指100期货 | 标普500期货 | | 7691.26 | 25737.75 | 6955.75 | | +54.29 +0.71% | | -2.00 -0.01% +0.75 +0.01% | 纳斯达克中国金龙指数一度涨超1%。其中蔚来涨近7%，小鹏涨超5%；百度涨近6%，其港股 今日收涨近9%。消息面上，据财联社报道，美国网约车平台Uber和Lyft宣布，已与百度达成 合作，计划于2026年在英国推出无人驾驶出租车(Robotaxi)试点项目。 | 名称 | 现价 | 涨跌幅 | | --- | --- | --- | | 劇来 | 5.710 | 6.93% | | 百度集团 | 134.130 ...

Core Insights - The article highlights Guangzhou's economic resilience and urban development as it transitions into 2025, emphasizing innovation, social welfare, and infrastructure improvements [2][3]. Economic Resilience - Guangzhou's economy demonstrated a U-shaped recovery, with growth rates increasing from 3.0% in Q1 to 4.1% in Q3, indicating a return to normal economic conditions [7]. - The city has completed a two-year economic adjustment, showcasing strong resilience amid challenges in the automotive and real estate sectors [7]. - Industrial output, urban renewal, and the financial sector have been key contributors to this economic rebound, with industrial value added growing by 1.4% year-on-year in Q3 [7][9]. - The automotive industry is increasing R&D investments, maintaining double-digit growth, which supports its transformation [8]. - Real estate investment in urban renewal projects rose by 4.1% in H1 and 2.4% in Q3, contrasting with a broader provincial decline [8]. Social Resilience - Urban renewal projects, particularly in village renovations, have enhanced social inclusivity and safety, with significant progress in the 康鹭片区 and other areas [11][14]. - The successful hosting of the 15th National Games and the Special Olympics has improved urban functionality and social cohesion [14]. - The implementation of a "zero-barrier" initiative during the events has made the city more accessible for disabled individuals and the elderly, contributing to a more inclusive urban environment [16].

Group 1 - The Hang Seng Technology Index experienced its largest single-day gain in December, rising by 1.74% [1] - A surge in buying activity was noted in the Hong Kong stock market, particularly in major stocks like Tencent, Alibaba, and Xiaomi, with Xiaomi's stock rising due to a live-streaming event announcement by its CEO [2] - Xiaomi's upcoming live-streaming event is seen as part of public relations and market value management, especially following the announcement of a share reduction plan by its second-in-command, Lin Bin, who plans to reduce holdings by up to $5 billion annually starting December 2026 [5][6] Group 2 - Silver faced significant volatility, with a single-day drop of 16% and a further decline of 6.5% in the Silver LOF, totaling over a 24% drop from its peak [8][9] - The premium rate of Silver LOF decreased from over 60% to just above 10% [12] Group 3 - The robotics sector saw a sudden increase in stock prices, while the commercial aerospace sector experienced a decline [13][14] - The Ministry of Industry and Information Technology and other departments released a plan focusing on the digital transformation of the automotive industry, emphasizing key equipment like intelligent robots [15] Group 4 - The A500 ETF saw a net outflow exceeding 10 billion, marking the first net sell since December 10, while still experiencing a significant net inflow of over 100 billion for the month [19] - The A500 ETF has outperformed the CSI 300 by approximately 4.5% year-to-date, with a notable 1.2% excess return in December alone [21] - The South China A500 ETF's scale increased from 21 billion to over 46 billion in December, reflecting a surge of 25 billion [23] Group 5 - The onshore and offshore RMB broke the 7 mark for the first time since May 2023, indicating a potential strategy to avoid rapid appreciation [31] - The Shanghai Composite Index closed at a neutral point of "0.00%", marking a ten-day streak of positive closing prices [31][32] Group 6 - The number of companies listed on the STAR Market reached 600, indicating a significant expansion and potential impact on the Shanghai Composite Index [33]

The futures on the second to last day of the year are pretty steady, showing minimal declines uh headed for the uh indexes after a modest drop yesterday. Joining us now is Ross Mayfield, Bayard investment strategist. Ross, uh good morning.So, we're, you know, have a strong year. Uh S&P up 17 plus% on a price basis in 2025, although kind of coasting into the close here. We're pretty much flat with levels we got to two months ago.A lot of rotation underneath. What's the setup for 2026. >> Yeah, I think the bi ...