第 一 财 经 持 续 追 踪 财 经 热 点 。 若 您 掌 握 公 司 动 态 、 行 业 趋 势 、 金 融 事 件 等 有 价 值 的 线 索 ， 欢 迎 提 供 。 专 用 邮 箱 ： bianjibu@yicai.com （注：我们会对线索进行核实。您的隐私将严格保密。） 推荐阅读 人民币稳定币境外发行被禁 3 0 2026.02. 12 本文字数：223，阅读时长大约1分钟 作者 | 第一财经 樊志菁 Meta当地时间周三宣布，将在美国印第安纳州黎巴嫩市破土动工建设一座新的10亿瓦数据中心， 项 目将提供超4000个建筑岗位和300个运营岗位，该项目代表着在数据中心基础设施及周边社区超100 亿美元的投资。 微信编辑 | 夏木 ...

Group 1 - The core viewpoint of the article highlights that South Korean investors have significantly increased their purchases of Hong Kong stocks, particularly focusing on the leading Chinese AI model company, MiniMax-WP, which has become the top net purchase stock for South Korean investors in 2026 [2][3]. - As of February 10, 2026, South Korean investors have made substantial investments in various Hong Kong stocks, with MiniMax-WP receiving a net purchase amount of $20.67 million, followed by other stocks such as the Huaxia CSI 300 ETF at $19.18 million and Lattice Technology at $18.65 million [3][6]. - MiniMax-WP was listed on the Hong Kong Stock Exchange on January 9, 2026, and experienced an overwhelming response with a 1,837 times oversubscription in the public offering and a 37 times oversubscription in the international offering, indicating strong demand from both institutional and retail investors [4]. Group 2 - In 2025, the top net purchases by South Korean investors in Hong Kong stocks included Xiaomi Corporation with $87.75 million and Global X China Semiconductor ETF with $74.03 million, showing a shift in investment preferences compared to 2026 [5][6]. - The total commission for overseas stock trading by the 12 largest securities firms in South Korea reached a record high of 1.95 trillion KRW (approximately $1.3 billion) from January to November 2025, more than doubling from the previous year, indicating a growing trend in overseas investments among retail investors [7].

Group 1 - Korean investors have significantly increased their purchases of Hong Kong stocks, particularly focusing on the Chinese large model leader MiniMax-WP, which has become the top net purchase stock for them in 2026 [1][2][6] - As of February 10, 2026, the top ten stocks purchased by Korean investors in the Hong Kong market include MiniMax-WP with a net purchase amount of $20.67 million, followed by ChinaAMC CSI 300 Index ETF and Montage Technology [2][4] - MiniMax-WP was listed on the Hong Kong Stock Exchange on January 9, 2026, and experienced an oversubscription of 1837 times in the public offering and 37 times in the international offering, indicating strong demand from both institutional and retail investors [3][10] Group 2 - In 2025, Korean investors had a net purchase of $87.75 million in Xiaomi Corporation, which was the top stock purchased that year, while in 2026, the net purchase of MiniMax-WP has already surpassed $20 million [5][13] - The total commission from overseas stock trading by the twelve largest securities firms in Korea reached 1.95 trillion KRW (approximately $1.3 billion) from January to November 2025, more than doubling from the previous year [7][14] - The foreign exchange fee income related to retail overseas investment transactions also increased significantly, rising from 147.7 billion KRW to 452.6 billion KRW during the same period [7][14]

Core Viewpoint - The recent significant decline in the Hong Kong technology sector, represented by the Hang Seng Tech Index, has created a strong investment opportunity due to extreme pessimism in the market narrative [1] Economic Fundamentals - Economic data indicates a slowdown in both PMI production and demand, while prices continue to strengthen; structural issues related to insufficient domestic demand persist, making the expansion of domestic demand a key policy focus [2] - PPI is expected to recover further, indicating potential positive shifts in the economic landscape [2] Liquidity and Funding - The Federal Reserve did not lower interest rates in January, with the nomination of a new chair, which may influence market dynamics; both domestic and Hong Kong capital have been increasing their holdings in the Hong Kong stock market [2] Valuation - The relative valuation of the Hong Kong technology sector has reached historical lows, with the Hang Seng Tech Index/A-share dual innovation index premium nearing historical minimum levels; the current regulatory environment for internet companies is significantly better than in 2022 and 2023, suggesting that the Hong Kong tech sector is undervalued [2] - The odds and win rates for investing in Hong Kong technology appear favorable moving forward [2] Policy Environment - Strict control over IPO quality is expected to improve market sentiment, as the previous oversupply of IPOs has been a common narrative explaining the weak performance of Hong Kong stocks [2] Investment Strategy - Focus on sectors such as technology (AI and internet, high-end manufacturing), non-bank financials (insurance), and high-dividend stocks [3] - The investment paradigm is shifting from "arms race" to "profit verification," leading to value discovery for Hong Kong internet companies; the AI ecosystem in Hong Kong is becoming increasingly comprehensive, covering hardware, foundational models, and vertical applications [3] - Instant retail business losses are narrowing and are gradually being priced in by the market; the technology sector's discount is approaching historical extremes, providing a clear "high cut low" configuration advantage [3] Non-Bank Financials - The asset side is characterized by a "bull market in stocks and bear market in bonds," with a strong beta in the operating side and a favorable opening for liabilities [4] High-Dividend Strategy - The Hang Seng High Dividend Yield Index has a dividend yield of approximately 6%, indicating stable dividend capacity; there is an increasing allocation of insurance and "fixed income+" funds from southbound capital towards high-dividend assets [4]

混合办公成为标配，而非选项 混合办公已成定局。它已成为知识型工作的主流模式。约 91% 的雇主正在提供某种形式的灵活办公安 排。 对领导者而言，关键问题不是"员工应该来办公室几天"，而是"如何让办公时间创造最大价值"。 Trip.com一项严格的随机对照试验表明，每周两天远程办公的混合模式能使离职率降低约三分之一，且 不影响绩效。最初持怀疑态度的管理者在亲身体验后也改变了看法。这启示我们应将混合办公视为提升 员工体验、保留人才、聚焦重点的战略杠杆，并依此进行系统设计。2026年需要： 神译局是36氪旗下编译团队，关注科技、商业、职场、生活等领域，重点介绍国外的新技 术、新观点、新风向。 编者按：当前，混合办公已从"选项"变为"默认设置"，人工智能也从新奇工具深度融入日常工作流。然 而，全球员工敬业度持续低迷、倦怠蔓延、技能迭代加速。在此背景下，本文基于多项全球调研与前沿 实践，解码2026年职场核心趋势。在混合办公与AI主导的环境中，企业将通过整合工作平台、智能赋 能管理、将健康与安全融入流程，构建既高效又具韧性的人才体系。本文来自编译。 当下的职场环境依然充满挑战。员工心力交瘁，管理者疲惫不堪，工作堆积如山 ...

Market Overview - The U.S. stock market experienced volatility, with the Dow Jones Industrial Average closing down 66.74 points, or 0.13%, at 50,121.40 points, and the Nasdaq down 0.16% at 23,066.47 points. The S&P 500 index saw a negligible decline of less than 0.01%, closing at 6,941.47 points [3][10]. - The VIX index rose, indicating increased market volatility, as investors reacted to a stronger-than-expected employment report that may delay the Federal Reserve's next interest rate cut [3][10]. Employment Report Insights - The U.S. Labor Department reported that 130,000 jobs were added in January, significantly exceeding the market expectation of 55,000. The unemployment rate fell to 4.3%, slightly below the anticipated 4.4% [10]. - Job growth was primarily concentrated in a few sectors, particularly healthcare, which added 124,000 jobs, double the usual increase for 2025. However, there are concerns about downward revisions in labor market data, with the average monthly job growth for the previous year adjusted down to only 15,000 [10]. - Analysts noted that while the employment report is a positive signal, the labor market still shows signs of weakness, with low turnover rates indicating ongoing challenges [10][12]. Stock Performance - Notable tech stocks showed mixed results, with Tesla up 0.80%, Nvidia up 0.78%, and Apple up 0.65%. In contrast, Meta Platforms fell 0.30%, Amazon dropped 1.34%, and Microsoft and Google both declined over 2% [5][6]. - The semiconductor sector saw gains, with the Philadelphia Semiconductor Index rising 2.3%, Intel up 2.46%, and TSMC up 3.37%. Conversely, software stocks faced renewed pressure, with the iShares U.S. Technology Software ETF down 2.55% [7][8]. Commodity Market - International oil prices increased, with light crude oil futures for March rising by $0.67 to $64.63 per barrel, a 1.05% increase. Brent crude for April delivery rose by $0.60 to $69.40 per barrel, up 0.87% [14]. - Precious metals also saw gains, with COMEX gold futures for April up 1.71% at $5,116.82 per ounce, and silver futures rising 5.14% to $84.52 per ounce [14].

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快手冬运会最动人的底色，莫过于"全民参与"的温暖设定，它打破了专业冰雪赛事的技术壁垒与年龄限制，让冰雪赛场真正成为属于每一个人的欢乐舞 台。"加油！再快一点就能得到大猪腿啦！"长春市民赵健裹着厚厚的羽绒服，脸冻得通红却笑意盎然，兴冲冲地在"冰雪向前冲"赛道上奋力前行，身旁的亲 友举着手机全程记录，呐喊声与欢笑声在冰天雪地间交织。在这里，没有专业与业余的区分，没有年龄与地域的隔阂，五岁的孩童在冰梯出溜滑上肆意穿 梭，62岁的张桂兰和老姐妹们组团打卡，五湖四海的游客与本地市民并肩闯关，每个人的脸上都洋溢着纯粹的快乐。50岁的长春市民王建军刚完成冰上推杆 赛，擦着额头的汗笑着感慨："以前总觉得滑冰滑雪都是专业运动员的事儿，离咱普通人太远了，没想到现在家门口就有这样的赛场，不在乎输赢，就是图 个乐呵，参与进来比啥都强！" 为了让更多人轻松体验冰雪运动的魅力，赛事策划极具巧思。对标冰壶、钢架雪车、速度滑冰等经典冬奥项目，进行本土化、趣味化、轻量化改造，打造出 推壶撞大运、冰车漂移赛、冰坑巧脱困等一系列特色项目，既保留了专业冰雪运动的核心趣味，又大幅降低参与难度，让普通人无需专业技能就能快速上 手。来自山西的任晓燕第一次 ...

大型科技股涨跌不一，英伟达涨0.80%，苹果涨0.67%，微软跌2.15%，谷歌跌2.39%，亚马逊跌1.39%，Meta跌0.30%，特斯拉涨0.72%，博通涨0.68%，甲骨 文跌1.71%，奈飞跌3.15%，美国存储芯片巨头美光科技涨9.94%。 美东时间周三，1月非农就业报告一度提振投资者情绪，但未能推动市场持续走高，三大股指最终均小幅收跌。截至收盘，道琼斯指数跌0.13%，报 50,121.40点；标普500指数微跌0.34点，报6,941.47点；纳斯达克指数跌0.16%，报23,066.47点。 热门中概股多数收跌，纳斯达克中国金龙指数跌0.65%，阿里巴巴跌1.32%，京东跌0.28%，拼多多跌0.82%，蔚来汽车涨2.22%，小鹏汽车涨1.63%，理想汽 车涨1.64%，哔哩哔哩涨2.84%，百度跌1.72%，网易跌4.06%，腾讯音乐涨0.36%，小马智行跌0.34%，金山云涨9.98%。 COMEX黄金期货收涨1.53%，报5107.8美元/盎司；COMEX白银期货收涨4.6%，报84.085美元/盎司。 此外，美国劳动力市场仍存在持续下修的阴影，2025年每个月数据都被向下修正。结合年 ...

Group 1: Apple and Siri - Apple’s upgrade plan for the Siri virtual assistant has encountered obstacles during the testing phase, potentially delaying the release of several anticipated features [1] Group 2: U.S. Employment and Federal Reserve - U.S. non-farm payrolls increased by 130,000 in January, significantly exceeding the forecast of 65,000 and the previous value of 50,000, marking the largest increase in over a year [1] - The unexpected surge in non-farm employment has led traders to push back expectations for the Federal Reserve to resume interest rate cuts until July [1] - Federal Reserve Governor Milan stated there are still multiple reasons to consider lowering interest rates [1] Group 3: Meta Platforms - Meta Platforms plans to invest over $10 billion to build a data center campus in Lebanon, Indiana, expected to be operational by the end of 2027 or early 2028 [1] - Bill Ackman’s hedge fund, Pershing Square, reportedly holds $2 billion in META shares, with an average purchase price of $625 per share [1] Group 4: Energy Sector - U.S. President Trump announced that the Department of Energy is allocating funds to maintain the operation of more coal plants, with coal generation expected to increase by approximately 25-30% this year [1] Group 5: Market Performance - U.S. stock indices experienced slight declines, with the Dow Jones down 0.13%, Nasdaq down 0.16%, and S&P 500 down 0.01%, while popular tech stocks showed mixed performance [1] - WTI crude oil futures rose by 1.05% to $64.63 per barrel, and Brent crude oil futures increased by 0.87% to $69.40 per barrel [1] - COMEX gold futures rose by 1.53% to $5,107.8 per ounce, and COMEX silver futures increased by 4.6% to $84.085 per ounce [1]