In 1980, Eric Sprott used his savings to buy a seat on the Toronto Stock Exchange and started his own securities firm, Sprott Securities.He sold his entire interest in Sprott Securities, to the firm's employees in 2001.Today he manages his family office, holding stakes in 120-plus silver and gold companies.See where he lands on the 2026 #ForbesBillionaires list:https://t.co/JYn52gRk2z (Photo: Sprott) ...

Economic Data Summary - In January-February 2026, the industrial added value above designated size increased by 6.3% year-on-year, up from 5.2% in December 2025 [4][5] - Fixed asset investment accumulated a year-on-year growth of 1.8% in January-February 2026, a significant improvement from a decline of 3.8% for the entire year of 2025 [4][6] - The total retail sales of consumer goods grew by 2.8% year-on-year in January-February 2026, marking an increase after nine consecutive months of decline [4][7] Industrial Performance - The average month-on-month growth rate of industrial added value in January-February 2026 was 0.61%, significantly higher than the monthly average growth rate in the fourth quarter of 2025, and positioned between the levels of 2024 and 2025 [5] - The year-on-year growth rate of fixed asset investment showed a notable increase in January-February 2026, particularly in real estate, manufacturing, and broad infrastructure investments compared to the entire year of 2025 [6] Consumer Market Insights - The retail sales growth for major consumer goods categories, excluding automobiles and communication equipment, showed significant improvement in January-February 2026 [7] Market Trends - The bond market exhibited a divergence in yields across different maturities, with the yield curve steepening significantly at the beginning of 2026 [8] - The Shanghai Composite Index increased by 0.8%, while the CSI 1000 Index rose by 8.1%, indicating better performance in small-cap stocks [8] - Geopolitical tensions since late February, particularly the conflict in Iran, have led to noticeable price fluctuations in various asset classes, with inflation expectations putting pressure on the bond market [8]

Core Viewpoints - The Shanghai Composite Index has shown a downward trend since reaching a peak of 4197 points on March 3, 2026, with short-term technical conditions weakening. The index has broken below the 60-day moving average, indicating a potential for further consolidation [2] - Despite the short-term weakness, there are multiple support levels below, and the long-term trend remains upward. The index is expected to encounter support during pullbacks, allowing for potential buying opportunities once technical conditions improve [2][5] Technical Analysis Summary - **Daily Technical Conditions**: As of March 17, 2026, the Shanghai Composite Index closed below the 60-day moving average, with significant net outflows of large funds. The short-term moving averages (5-day, 10-day, 20-day) are in a bearish arrangement, indicating a downward trend. The index has experienced a maximum increase of over 34% since the wave bottom on April 7, 2025, but is now at risk of further declines if it fails to hold above key support levels [2][7] - **Weekly Technical Conditions**: The index has broken below important support levels at the 5-week and 10-week moving averages, with a bearish crossover occurring. The weekly indicators (KDJ, MACD) are also showing signs of weakness, suggesting that if the index falls below the 20-week moving average, it may seek further support at lower levels [2][5] - **Support Levels**: The nearest support level is at 4017 points (20-week moving average), with additional strong support at 3800 points, 3731 points, and 3674 points. The 3731 points level is particularly significant as it represents a long-term resistance level established over the past decade [2][5]

Core Viewpoint - The article emphasizes the importance of deep research and understanding of the automotive industry, particularly in the context of the ongoing transformation driven by electrification, intelligence, globalization, and premiumization, referred to as the "four transformations" of the automotive sector [9]. Group 1: Research Focus - The company is dedicated to supporting the automotive industry and capital markets through in-depth research on industry trends, business models, and the essence of the automotive sector [9]. - The research team has accumulated significant achievements and maintains deep communication with industry experts and leaders, earning multiple accolades in the field of analysis [9]. Group 2: Recruitment Information - The company is seeking analysts with a passion for automotive research, particularly in the areas of smart and embodied intelligence, to join their team [11]. - Candidates should possess strong analytical skills, independent thinking, and the ability to produce in-depth reports, with a preference for those with backgrounds in electric intelligence or related fields [11]. - Internships are also available for students graduating in 2026, with a focus on smart automotive and embodied intelligence, requiring strong communication skills and the ability to handle high-intensity research work [12].

Back in September, President Donald Trump echoed an old proposal of his from 2018 to change the requirement for public companies to report quarterly financial reports to only needing to report twice a year. The Securities and Exchange Commission (SEC) is now ready to make that wish an official proposal. • State Street SPDR S&P 500 ETF Trust stock is showing upward bias. What’s the outlook for SPY shares?Quarterly Vs. Biannual ReportingWhen it comes to public companies and the U.S. stock markets, many things ...

Core Viewpoint - The article discusses the recent trends in the active user numbers of securities apps, highlighting a decrease in February 2026 due to the impact of the Spring Festival holiday, while also noting a year-on-year increase in user engagement [1][2]. User Activity Trends - In February 2026, the number of active users for securities apps reached 170 million, a decrease of 7.52% month-on-month but an increase of 2.62% year-on-year [1][2]. - The average daily active users in February were approximately 12.17 million, higher than January's 8.38 million, indicating improved user engagement despite fewer trading days [1]. Competitive Landscape - Major third-party securities apps like Tonghuashun, Dongfang Caifu, and Dazhihui lead the market with active user numbers of 35.74 million, 17.61 million, and 12.77 million respectively [6][7]. - Among self-operated broker apps, Huatai Securities' Zhangle Caifutong and Guotai Haitong's Junhong app led with 11.86 million and 10.23 million active users respectively, both experiencing a decline due to the holiday [6][7]. Innovations and Upgrades - The article notes that securities firms are rapidly iterating their apps, focusing on AI integration, ETF section optimization, and 24/7 fund transfer services to enhance user experience and meet wealth management needs [2][11]. - Guotai Haitong announced the integration of its Tongcai app into the Junhong app, aiming to create a comprehensive digital wealth management platform [3][15]. Market Dynamics - The A-share market showed resilience in February, with the Shanghai Composite Index rising by 1.09% and the Shenzhen Component by 2.04%, supporting the activity levels of securities apps [8]. - New account openings in February reached 2.523 million, a year-on-year decrease of 11% but significantly higher than the average monthly levels in 2025 [9]. AI and Differentiation Strategies - The article emphasizes that leading brokerages are leveraging AI to enhance user interaction, efficiency, and personalized services, with a focus on creating differentiated offerings in a competitive landscape [10][14][16]. - The integration of AI capabilities is seen as a key driver for improving user engagement and operational efficiency, with firms like Huatai Securities leading the charge in AI-native app development [11][15].

Market Overview - The domestic market indices showed mixed performance, with the Shanghai Composite Index closing at 4,084.79, down 0.26%, while the ChiNext Index rose by 1.41% to 3,357.02 [4] Industry Insights - The computer industry is experiencing a significant breakthrough in domestic computing power, with expectations of an explosion in AI applications. The computer sector saw a notable increase in revenue and net profit in 2025, driven by AI trends and a resurgence in investment enthusiasm [6][8] - The demand for AI computing power remains high, with major internet companies expected to continue increasing capital expenditures in 2026. Domestic chip manufacturers are rapidly improving their performance and ecosystem to compete with Nvidia [6][7] - The C-end AI applications are dominated by major internet companies, while B-end applications are anticipated to experience significant growth, particularly in sectors like industrial manufacturing and healthcare [6][7] Company Analysis: TCL Smart Home - TCL Smart Home is expected to achieve stable revenue growth in FY2026, despite external challenges. The brand's down jacket business is projected to grow in the mid-single digits, showcasing operational resilience [13][14] - The company reported a revenue of 185.31 billion yuan for 2025, with a year-on-year increase of 0.93%, and a net profit of 11.23 billion yuan, up 10.22% year-on-year [15][17] - The company is focusing on enhancing its brand image and ESG strategy, with notable initiatives such as the launch of a high-end product line in Paris [14][15] Investment Recommendations - The report maintains a positive outlook on the AI industry chain for 2026, recommending investments in domestic AI computing chip manufacturers and application developers. Key companies to watch include Haiguang Information and Kingsoft Office [6][7][8] - For TCL Smart Home, the forecasted net profits for 2026-2028 are 11.65 billion, 12.91 billion, and 14.1 billion yuan, respectively, with a recommendation to "increase holdings" based on the company's stable performance and attractive valuation [15][17]

Ant Group Co. is close to completing its purchase of Bright Smart Securities & Commodities Group https://t.co/1HLMLmp1sp ...

Geopolitical Risks - The Middle East geopolitical situation is deteriorating, with the U.S. military conducting airstrikes on Iran's oil export hub, which may escalate tensions further[13] - Concerns over inflation are expected to suppress global macro liquidity, impacting market sentiment and asset performance[15] Asset Allocation Recommendations - Overweight Chinese equities due to lower risk premiums and a more diverse market structure, which is seen as a key driver for capital market transformation[16] - Recommend overweighting gold as a hedge against geopolitical uncertainties, with central banks and large asset managers continuing to buy gold, supporting long-term price stability[17] - Suggest overweighting oil due to geopolitical tensions affecting supply, particularly with declining oil inventories in major economies[17] Bond Market Insights - Inflation expectations are likely to suppress long-duration bond performance, making mid-duration bonds more attractive compared to long-duration bonds[16] - The U.S. economy is showing signs of marginal convergence but has not stalled, with a moderate cooling in the labor market and wage growth, which may lead to a gradual decline in U.S. Treasury yields[16] Commodity Market Outlook - Industrial commodities, particularly copper, are expected to see increased demand driven by construction, electric vehicles, and AI expansion, despite rising development costs[17] - The global order is rapidly restructuring, making safety a scarce resource, which further supports the case for gold as a protective asset[17] Performance Metrics - The tactical asset allocation portfolio achieved a cumulative excess return of 6.62% and an absolute return of 11.10% as of March 15, 2026[21]

Group 1: Oil and Currency Trends - Brent crude oil prices surged to $103.14 per barrel, up 42.3% from $72.48 before the conflict began[4] - The U.S. dollar index rose above 100, increasing by 1.56% during the week, driven by safe-haven demand and the U.S. oil producer status[7] - U.S. gasoline prices increased to $3.36 per gallon, a 16.64% rise from $2.88 per gallon[4] Group 2: Economic Indicators - U.S. February CPI rose 2.4% year-on-year, with core CPI at 2.5%, aligning with market expectations[4] - Initial jobless claims in the U.S. for the week ending March 7 were 213,000, slightly down from a revised 214,000[8] - U.S. existing home sales in February were annualized at 4.09 million units, a 1.7% increase from January[8] Group 3: Market Performance - Major global stock indices, except for China's ChiNext, CSI 300, and Hong Kong's Hang Seng Tech, remained flat or declined[7] - The S&P 500, Dow Jones, and Nasdaq fell by 1.60%, 1.99%, and 1.26% respectively during the week[11] - European STOXX 600 index decreased by 0.47%, with Germany's DAX down 0.61%[11] Group 4: Risks and Future Outlook - Risks include potential escalation of the U.S.-Iran conflict, unexpected inflation increases in the U.S., and greater volatility in global financial markets[24] - Market expectations for a rate cut by the Federal Reserve have diminished, with the first anticipated cut now pushed to December 2026, with a probability of 60.9%[8]