2026.02.23 本文字数：1324，阅读时长大约2分钟 作者 |第一财经 武子晔 2026年农历春节，当国内沉浸在阖家团圆的年味中，远在海外的汽车贸易商吴松（化名）依旧奔走在市 场一线。 "海外客户每逢国内A级车展都会专程到访，我会陪同走访、对接相关资源，将单次交易转化为长期共 生的合作伙伴关系。"吴松表示，今年春节期间没有松懈，与客户会议敲定最新合作的细节，梳理新一 年的长期业务规划。这项新合作对吴松来说十分重要，他和中东一家海外经销商深度合作，在当地投资 建设的KD工厂即将投产，正式运营后，相关产品的售后工作等相关细节都需提前做好准备。 "看到以前的同事在朋友圈发了在海外一线车间工作的照片，春节仍在坚守岗位，配文是'为中国汽车品 牌出海坚守'。"吴松说道，身边诸多汽车人春节仍坚守在海外生产、销售一线，这份坚守源于中国汽车 出海的蓬勃态势，也源于市场竞争带来的紧迫感。 在吴松看来，近年来，中国汽车出海快速发展也实现了从量的扩张到质的飞跃。他认为，此前中国汽车 品牌在海外市场仅能走性价比路线，产品集中在低端乘用车区间，品牌认可度偏低；经过多年技术攻坚 及全球化布局深化，尤其是在新能源汽车快速发展下，自主 ...

【文/观察者网 阮佳琪】 被美国最高法院"缴械"的特朗普，很快祭出了全新的15%全球统一关税，对所有贸易伙伴发起新一轮无 差别攻击。 《金融时报》22日援引数据炒作称，特朗普这一新关税政策的最大受益者，反而是美方多次无端批评的 中国和巴西；英国、欧盟、日本等美国传统盟友，则成为最主要受损方。 英媒引述的"全球贸易预警组织"（GTA）测算数据称，巴西平均关税降幅最大，将下降13.6个百分点； 其次是中国，下降7.1个百分点。 GTA首席经济学家约翰内斯·弗里茨（Johannes Fritz）表示，此前遭受白宫严厉批评并被加征高额关税 的中国、巴西、墨西哥、加拿大等国，此次关税下调幅度最为显著；常被特朗普指责对美顺差过高的越 南、泰国、马来西亚等亚洲制造业经济体，其服装、家具、玩具、塑料等行业同样将从新政策中获益。 其中英国受损最大。此前英国已争取到多数商品适用于10%关税，如今平均税率反而要上升2.1个百分 点。英国商会称，约4万家对美出口企业对此感到失望，呼吁政府尽快与美方沟通。 前英国贸易部官员、现咨询机构SEC Newgate分析师艾莉·雷尼森（Allie Renison）认为，英国正陷入两 难，不知应争 ...

（原标题："沸腾"了 恒生指数大涨600点！重磅利好 直线飙涨） 大家好！最后一天春节假期，一起来关注港股上午的市场行情和资讯~ 消息面上，据新华社消息，我国科学家近日在光通信和6G领域取得突破性进展，在国际上率先实现光 纤通信和无线通信系统间的跨网络融合，自主研发的"光纤—无线一体化融合通信系统"的数据传输速率 刷新纪录。该成果2月19日凌晨在线发表于《自然》。《自然》审稿人认为，这项工作"对融合光学和太 赫兹通信系统的进步作出重要贡献"。 此外，近期"中国光谷"发布消息称，当前全球AI技术爆发，走向全面应用，光纤光缆迎来需求增长。 2026年春节期间，长飞公司各基地生产线保持满产——机器不停、人员轮转，拉丝、套塑、成缆……每 一道工序都严格把关，全力响应交付使命。 开源证券近期研报称，展望2026年，AI"虹吸效应"显著，全球AI或继续共振。海外方面，谷歌、Meta 等巨头不断上调AI资本开支指引，谷歌Gemini等大模型Tokens消耗量大幅提升，AI正循环效应逐步凸 显。国内方面，以字节跳动、阿里巴巴、腾讯等为代表的国内AI巨头或进入AI算力大规模投入期。看 好"光、液冷、国产算力"三大核心主线，同时 ...

诸多汽车人春节仍坚守在海外生产、销售一线，这份坚守源于中国汽车出海的蓬勃态势，也源于市场竞 争带来的紧迫感。 2026年农历春节，当国内沉浸在阖家团圆的年味中，远在海外的汽车贸易商吴松（化名）依旧奔走在市 场一线。 "新项目即将启动，客户对接、市场调研、年度业务规划都容不得耽搁，这个春节只能留在海外。"吴松 对第一财经记者表示。 三年前，吴松抓住中国汽车出海的黄金窗口期投身贸易领域，正式开启创业之路。创业前，他已在主机 厂海外体系任职多年，负责客户开发、市场营销与售后体系搭建，足迹覆盖中东、非洲等汽车消费市 场，常年往返于国内与海外市场之间。因此，这并非吴松首次在海外过年。 "看到以前的同事在朋友圈发了在海外一线车间工作的照片，春节仍在坚守岗位，配文是'为中国汽车品 牌出海坚守'。"吴松说道，身边诸多汽车人春节仍坚守在海外生产、销售一线，这份坚守源于中国汽车 出海的蓬勃态势，也源于市场竞争带来的紧迫感。 他说自己不再想做一锤子买卖，要扎根海外做长期生意，这是立足市场的根本。吴松放弃了短平快的投 机模式，常年驻守海外实地调研，深度研究当地市场规则，把根基扎在市场最前沿，研究如何从售后等 方面扩展新业务以及如何和 ...

黄金股大涨，潼关黄金涨超11%。由于美国最高法院限制了美国总统特朗普的关税权力，使得与美国谈 判的贸易协定前景充满不确定性，这令市场感到不安，黄金价格走高。与此同时，美伊核谈判前景正影 响原油市场。 | 名称 | 最新价 | 涨跌额 | 涨跌幅 √ | | --- | --- | --- | --- | | 恒生科技指数 | 5384.52 | +173.02 | +3.32% | | 800700 | | | | | 国企指数 | 9183.23 | +223.67 | +2.50% | | 800100 | | | | | 恒生指数 | 27017.88 | +604.53 | +2.29% | | 800000 | | | | 来源：新浪港股 2月23日消息，港股三大指数集体上涨。截至午间收盘，恒生指数涨2.29%，报27017.88点，恒生科技指 数涨3.32%，国企指数涨2.50%。盘面上，科网股普涨，美团涨超6%，京东涨超4%，阿里巴巴、腾讯、 快手、百度涨超3%；黄金股大涨，潼关黄金涨超11%；汽车股活跃，蔚来涨超3%；光通讯概念走强， 长飞光纤光缆涨超15%。 | 代码 | 名称 | 最新价 ...

Group 1 - The Supreme Court ruling has significant implications for the U.S. domestic economy, despite having little effect on Trump's international relations [3][5] - Trump quickly adjusted his strategy by invoking the Trade Act of 1974, increasing global tariffs from 10% to 15%, which is higher than initially planned [5] - The increase in tariffs is expected to burden American consumers, with an estimated additional cost of $1,700 per household annually due to rising import costs [7][9] Group 2 - High tariffs are putting pressure on U.S. manufacturing, with overall costs rising by 2% to 4.5%, and specific industries like automotive facing increased costs of $1,200 to $2,500 per vehicle [9] - The manufacturing sector is experiencing job losses, with over 80,000 layoffs in the past year, contradicting Trump's goal of bringing manufacturing back to the U.S. [9][11] - The share of manufacturing in the U.S. economy is declining, projected to drop from 10.8% in 2024 to 10.5% in 2025, indicating a lag in advanced technology sectors [11] Group 3 - The semiconductor industry is facing significant losses due to increased tariffs, with over $10 billion in damages and a reduction in global market share from 37% in 1990 to 12% today [11] - If tariffs persist, consumer electronics prices are projected to rise significantly, with smartphones potentially increasing by 31% and gaming consoles by 69% [11] - The U.S. is losing competitive ground to China in high-tech sectors, with China making substantial advancements in electric vehicles, artificial intelligence, and semiconductor production [13]

Market Overview - The Hong Kong stock market opened strong and continued to rise, with the Hang Seng Index up nearly 3%, the Hang Seng Tech Index up nearly 4%, and the Hang Seng China Enterprises Index up over 3% [1] - The A50 futures also saw an increase, expanding to over 1.5% [1] Sector Performance - Technology stocks led the market rally, with Meituan rising over 7%, JD Group and BYD up over 5%, and SMIC up nearly 5% [2][3] - Other notable gainers included Huahong Semiconductor, Li Auto, Sunny Optical Technology, and Leap Motor, all rising over 4% [2][3] Individual Stock Highlights - Meituan-W: Current price 86.750, up 7.43% [4] - JD Group-SW: Current price 109.100, up 5.11% [4] - BYD: Current price 100.300, up 5.08% [4] - SMIC: Current price 70.950, up 4.80% [4] - Huahong Semiconductor: Current price 98.350, up 4.46% [4] - Li Auto-W: Current price 73.150, up 4.35% [4] - Alibaba-W: Current price 152.700, up 3.81% [4] Precious Metals and Commodities - The precious metals sector saw significant gains, with spot gold surpassing $5160 per ounce, up over 1%, and spot silver rising over 3% [5] - Chinese gold stocks also surged, with China Gold International up over 7% and Zijin Mining up over 4% [5] Other Sector Movements - The non-ferrous metals sector performed strongly, with China Daye Non-Ferrous Metals up over 9% and Jiangxi Copper up over 6% [5] - The optical communication sector saw collective gains, with Yangtze Optical Fibre up over 18% [5] Investment Insights - Galaxy Securities indicated that the technology sector remains a long-term investment focus, with reduced valuation pressure and potential for rebound due to advancements in AI [6] - Huatai Securities suggested monitoring three key areas: semiconductor hardware, consumer sectors like dining and innovative pharmaceuticals, and electrical equipment benefiting from system upgrades [6] - Significant stock buybacks by industry leaders have instilled confidence in the Hong Kong market, with total buyback amounts exceeding 25.4 billion HKD since 2026 [6]

Group 1 - The core viewpoint of the article highlights a significant increase in retail and catering data during the Spring Festival holiday, with a year-on-year growth of 8.6% in the first four days, which is expected to boost the social retail data for the first two months of the year [1][2][52] - The increase in cross-regional travel during the holiday period saw an 8.7% rise compared to the previous year, with water transport showing remarkable growth of 28.5%, influenced by tourism demand and the reopening of Hainan [3][12][54] - Price stability was observed in key sectors, with high-end liquor and hotel prices in popular small cities increasing, while prices in first-tier cities and movie ticket prices saw declines [4][16][55] Group 2 - Structural highlights in consumption include a strong performance in mid-to-high-end products like gold and duty-free items, with gold consumption remaining robust and duty-free sales in Hainan increasing by 20.9% [5][14][56] - Domestic and cross-border travel maintained momentum, with hotel accommodation transaction values rising by 32.7% and a predicted double-digit growth in daily inbound and outbound travelers at national ports [5][14][57] - The trend towards smart and health-oriented consumption was evident, with significant sales growth in smart wearable devices and organic foods during the holiday period [5][14][57] Group 3 - Weekly economic observations indicate a rebound in durable goods consumption, with passenger car retail sales increasing by 54% year-on-year in early February, contrasting with a decline of 13.9% in January [6][24] - Real estate sales showed improvement, with a 5% year-on-year increase in residential sales area in 27 cities as of mid-February, compared to a decline of 16% in January [6][25] - Export activities showed signs of recovery, with a 32.3% increase in the number of outbound port calls compared to the previous year, indicating a positive trend in trade [6][30]

Core Viewpoint - The U.S. Supreme Court ruled that the large-scale tariff policy implemented by the Trump administration was illegal, effectively pausing the ongoing trade war. This decision has led to significant market reactions and fears among U.S. farmers and investors regarding the future of U.S. agricultural exports, particularly soybeans, to China [1][3]. Group 1: Impact on U.S. Agriculture - The U.S. soybean industry is heavily affected, with exports to China previously accounting for up to 60% of total production. Following the Supreme Court ruling, fears arose that China would shift to purchasing cheaper soybeans from Brazil, which has established a stable supply chain [1][3]. - U.S. farmers are struggling with low profits and high costs for imported agricultural machinery and fertilizers due to tariffs, leading to a cycle of increased production but greater losses [3]. - The agricultural sector is facing its fourth consecutive year of low profits, despite high production levels, exacerbated by the tariff-induced price increases of essential farming inputs [3]. Group 2: Consumer Impact - U.S. consumers are beginning to realize that they are bearing the costs of the tariffs, with prices for everyday goods, appliances, and vehicles rising significantly. Research indicates that the costs of tariffs are primarily shouldered by U.S. importers and consumers rather than foreign suppliers [6]. - The dissatisfaction among consumers and farmers could translate into political consequences in the upcoming midterm elections, particularly in the Midwest, where soybean farmers have traditionally supported the Republican Party [8]. Group 3: International Relations and Responses - The unilateral tariff policies have strained relationships between the U.S. and its allies, with many countries reconsidering their economic ties with the U.S. and seeking closer cooperation with China [10]. - Japan has shown a submissive stance, continuing to pursue investment in the U.S. despite the Supreme Court ruling against the tariff agreement, indicating a willingness to compromise for potential tariff relief [12]. - The EU has publicly criticized Trump's unilateralism but has not taken substantial retaliatory actions, instead opting to appease the U.S. for tariff exemptions due to its deep economic reliance on the U.S. market [14][20]. Group 4: Responses from Developing Countries - Developing countries, particularly in Southeast Asia and Latin America, have shown a tendency to acquiesce to U.S. tariff demands due to their economic vulnerabilities and reliance on the U.S. dollar for trade [18][21]. - India initially adopted a strong stance but ultimately succumbed to U.S. pressure, reflecting the broader trend of developing nations lacking the capacity to resist U.S. tariffs [22]. Group 5: China's Countermeasures - In contrast to other nations, China has taken a firm stand against U.S. tariffs, implementing retaliatory measures that directly target U.S. interests, including imposing equivalent tariffs on U.S. imports and controlling rare earth exports critical to U.S. military applications [24][26]. - China's strategy includes diversifying its export markets away from the U.S., resulting in a significant reduction in the trade deficit with the U.S. and record-high overall exports [28][35]. - The comprehensive industrial system in China allows it to maintain stability and independence from U.S. pressures, making it less vulnerable to tariff impacts compared to countries heavily reliant on the U.S. market [37][38].

Core Viewpoint - The Hong Kong automotive stocks experienced a broad increase today, indicating positive market sentiment in the sector [1] Group 1: Stock Performance - Seres (09927.HK) rose by 4.87%, trading at HKD 96.85 [1] - BYD Company (01211.HK) increased by 4.56%, with shares priced at HKD 99.8 [1] - Xpeng Motors-W (09868.HK) saw a rise of 3.83%, reaching HKD 70.45 [1] - Li Auto-W (02015.HK) gained 3.57%, trading at HKD 72.6 [1]