盘前市场动向 1. 1月14日(周三)美股盘前，美股三大股指期货齐跌。截至发稿，道指期货跌0.32%，标普500指数期货跌0.42%，纳指期货跌 0.63%。 | = US 30 | 49,033.10 | 49,178.90 | 48,999.30 | -158.90 | -0.32% | | --- | --- | --- | --- | --- | --- | | 트 US 500 | 6,934.60 | 6,964.30 | 6,928.60 | -29.10 | -0.42% | | 트 US Tech 100 | 25,579.00 | 25,758.50 | 25,545.90 | -163.00 | -0.63% | 2. 截至发稿，德国DAX指数跌0.41%，英国富时100指数涨0.26%，法国CAC40指数涨0.03%，欧洲斯托克50指数跌0.24%。 | I 德国DAX30 | 25,307.57 | 25,474.72 | 25,299.11 | -103.87 | -0.41% | | --- | --- | --- | --- | --- | --- | | 英国富时100 | ...

1月13日晚，2026年马年贺岁纪念币和纪念钞开启预约，每人限额分别为20枚及20张，每人只能各预约一次。不少人表示，一分钟不到就被抢光。记者从 中国人民银行江苏省分行获悉，江苏省的预约兑换工作由中国工商银行、交通银行、中国邮政储蓄银行、华夏银行四家银行在江苏省内的分支机构共同承 担，集中兑换期均为2026年1月20日至1月26日。面对火爆场面，资深收藏人士提醒，近年来，纪念币和纪念钞热度较高。在二手平台交易往往都会有溢 价。但是，纪念币投资有风险，购入需量力而行，不宜盲目跟风。 马年贺岁纪念币、纪念钞"秒空" 2026马年纪念钞, 20标准连号为一组,银行兑换期 间发货，标价是20连号为一组的价格。售出不退不 换, 1月13日22时，马年贺岁纪念币、纪念钞开抢。每人限额分别为20枚及20张，每人只能各预约一次。江苏省2026年贺岁币、2026年贺岁钞发行量分别为568 万枚、568万张；南京市2026年贺岁币、2026年贺岁钞发行量分别为80万枚、80万张。 "一分钟内，马年纪念币纪念钞秒没。"1月13日晚10点，南京市民李先生已在银行预约界面等候多时。他称，他和家人分别在两个银行渠道预约，他所操 作的银行 ...

5、中信证券：2025年净利润300.51亿元，同比增长38.46% 中信证券公告，2025年营业收入748.3亿元，同比增长28.75%；净利润300.51亿元，同比增长 38.46%。2025年，国内资本市场整体呈上行态势，市场交投活跃度显著提升，投资者信心增强，A股主 要指数均实现上涨。公司积极把握市场机遇，稳步做大客户市场规模，经纪、投资银行、自营业务等收 入均实现较快增长；同时，公司坚定推进国际化布局，深化跨境服务能力，叠加香港市场的良好表现， 公司境外收入实现较快增长。 1、沪深北交易所提高融资保证金比例 2026年1月14日，经中国证监会批准，沪深北交易所发布通知调整融资保证金比例，将投资者融资 买入证券时的融资保证金最低比例从80%提高至100%。2023年8月，沪深北交易所将融资保证金比例从 100%降低至80%，融资规模和交易额稳步上升。近期，融资交易明显活跃，市场流动性相对充裕，根 据法定的逆周期调节安排，适度提高融资保证金比例回归100%，有助于适当降低杠杆水平，切实保护 投资者合法权益，促进市场长期稳定健康发展。需要说明的是，此次调整仅限于新开融资合约，调整实 施前已存续的融资合约及 ...

| 10 | | | 标记 +自选 返回 品品600036 招商银行 | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | > ■ | | 委比 | -98.78% 委差 | | -163万 | | | | | 47.00 | 卖五￥ | 40.11 | 53.3 万 | | | | | | 46.00 | 立川 | 40.10 | 1196.6 / | | 600 | | | | | | 40.09 | 271.4万 | | | | | | 45.00 | | 40.08 | 19.2 /7 | | | | | | | | 40.07 | 65.7 亿 | | 2. | | | | 44.00 | | 40.06 | 1459.4万 | | | | | | 43.00 | | 40.05 | 994.4万 | | | | | | 42.00 | | 40.04 | 277.5 力 | | | | | | | 买四 | 40.03 | 406.7 万 | | | | | | 41.00 | 买五 | 40.02 | 889.2 万 | ...

（文章来源：第一财经） 美国银行发布财报，2025年第四季度净利润为76亿美元，上年同期为68亿美元。 ...

来源：滚动播报 富国银行首席执行官提及强劲的财务表现、美联储资产上限的解除以及多项同意令的终止。 ...

Core Viewpoint - The launch of the 2026 New Year commemorative coins and banknotes has sparked a rush among consumers, leading to significant demand and difficulties in the reservation process, highlighting the growing trend of viewing these items as investment opportunities rather than mere collectibles [1][7]. Group 1: Reservation Process - The People's Bank of China announced the issuance of 10 yuan commemorative coins (1 billion pieces) and 20 yuan commemorative banknotes (1 billion pieces), with a reservation limit of 20 pieces per person [1][7]. - On January 13, the reservation system faced significant traffic, with many banks experiencing crashes and slow response times, resulting in rapid depletion of available quantities [2][4]. - Consumers reported difficulties in the reservation process, including system lag and unreceived verification codes, indicating a high level of competition for these items [4][7]. Group 2: Market Dynamics - The secondary market for these commemorative items is already showing significant price increases, with listings for a 10 yuan coin and a 20 yuan banknote reaching prices of 55 yuan, nearly doubling their face value [1][8]. - Investors are actively seeking to profit from these items, with some offering "thank you fees" of 300 to 500 yuan for successful reservations [1]. - The trend of viewing commemorative coins and banknotes as investment opportunities is driven by cultural significance, scarcity expectations, and the ease of online reservations, attracting both casual collectors and investors [7][8]. Group 3: Historical Context and Future Outlook - Previous commemorative issues, such as the "snake banknote" and "snake coin," have shown significant price fluctuations, with current resale prices reflecting a decline from initial peaks, indicating a volatile market influenced by consumer sentiment [14]. - The cultural significance of zodiac-themed items tends to enhance their desirability, suggesting that future releases may continue to attract strong interest and investment potential [14].

Group 1 - The core point of the article highlights that on January 14, the main funds in the Shanghai and Shenzhen markets experienced a net outflow of 504.74 billion yuan, with the ChiNext board seeing a net outflow of 210.18 billion yuan and the CSI 300 index stocks a net outflow of 154.4 billion yuan [1] - Among the 17 primary industries, the computer industry had the highest increase, rising by 3.42%, while the banking and real estate sectors saw declines exceeding 1% [1] - Ten industries experienced net inflows of main funds, with the computer industry leading at a net inflow of 46.7 billion yuan, followed by non-bank financials and telecommunications with inflows exceeding 11 billion yuan each [1] Group 2 - In individual stock performance, the automotive parts company Shanzi Gaoke had the highest net inflow of main funds at 21.18 billion yuan, with a trading volume of 128.48 billion yuan and a turnover rate of 24.14% [2] - PCB concept stock Hu Dian shares saw a net inflow of 13.28 billion yuan, ranking second, while AI financial stock Lakala had a net inflow of 12.91 billion yuan [2] - The article also notes that over 250 stocks had net outflows exceeding 1 billion yuan, with 10 stocks seeing outflows over 10 billion yuan [3] Group 3 - The article mentions that leading sectors for net outflows included robotics, electricity, and wind power, with each seeing outflows exceeding 21 billion yuan [4] - Hai Ge Communication experienced a net outflow of 14.3 billion yuan, with the company announcing expected losses for the 2025 fiscal year [4] - The tail-end trading session saw a net outflow of 54.14 billion yuan, with the CSI 300 index stocks experiencing a net outflow of 49.52 billion yuan [5]

1月14日，A股市场主要指数涨跌不一。 截至收盘，上证指数收报4126.09点，下跌0.31%；深证成指收报14248.6点，上涨0.56%；创业板指收报 3349.14点，上涨0.82%。两市合计成交39413.89亿元，较上一交易日增加2904.04亿元。 1. 两市主力资金净流出超500亿元 今日沪深两市主力资金开盘净流出71.84亿元，尾盘净流出54.14亿元，全天净流出504.74亿元。 | | | 沪深两市最近五个交易日主力资金流向情况(亿元) | | | | --- | --- | --- | --- | --- | | 日期 | | 净流入金额 开盘净流入 | 人探求障礙 | 超大单净买入 | | 2026-1-14 | -504.74 | -71. 84 | -54. 14 | -90. 16 | | 2026-1-13 | -1286.54 | -530. 96 | -183. 95 | -718. 20 | | 2026-1-12 | -213.07 | -198.59 | -51. 60 | 53. 33 | | 2026-1-9 | -298.04 | -164. 63 | 1.02 ...

Market Overview - The A-share market showed mixed performance on January 14, with the Shanghai Composite Index closing at 4126.09 points, down 0.31%, while the Shenzhen Component Index rose 0.56% to 14248.6 points, and the ChiNext Index increased by 0.82% to 3349.14 points. The total trading volume for both markets reached 39,413.89 billion yuan, an increase of 2,904.04 billion yuan compared to the previous trading day [1]. Capital Flow - The net outflow of main funds from the Shanghai and Shenzhen markets exceeded 500 billion yuan, with a total net outflow of 504.74 billion yuan for the day, including an opening net outflow of 71.84 billion yuan and a closing net outflow of 54.14 billion yuan [2][3]. - The CSI 300 index experienced a net outflow of 154.4 billion yuan, while the ChiNext saw a net outflow of 210.18 billion yuan [4]. Sector Performance - The computer industry saw a net inflow of 208.24 billion yuan, with a growth of 3.44%, driven by stocks like Tonghuashun [6]. - The electronics sector recorded a net inflow of 101.23 billion yuan, increasing by 1.36%, led by Huadian Co. [6]. - The automotive sector faced a net outflow of 102.89 billion yuan, with a slight decline of 0.19%, primarily impacted by Jianghuai Automobile [6]. - The banking sector also saw a net outflow of 96.11 billion yuan, down 1.45%, with Beijing Bank being a significant contributor [6]. Institutional Activity - Notable institutional buying included Guangxun Technology, which saw a net purchase of 51,578.19 million yuan, reflecting a daily increase of 10.00% [8]. - Other significant purchases included Liou Co. with 39,662.88 million yuan and China Satellite Communications with a net outflow of 34,609.85 million yuan, down 10.00% [8]. Stock Recommendations - UBS has rated Shanghai Pharmaceuticals as a "Buy" with a target price of 22.3 yuan, indicating a potential upside of 26.85% from the latest closing price of 17.58 yuan [11]. - Other stocks recommended by UBS include Longi Green Energy with a target price of 54 yuan, suggesting a 51.69% upside from its current price of 35.60 yuan [11].