美股科技板块迎来标志性时刻：谷歌市值自2019年以来首次超越苹果，坐上美股市值第二。过去一 年，谷歌在生成式AI领域的激进投入与全面重构，虽伴随争议，却显著强化了其在下一代技术基础设 施领域的卡位；而苹果则面临iPhone创新瓶颈以及AI业务进展迟缓的多重挑战。两家巨头截然不同的股 价曲线，共同绘制出一条清晰的产业分水岭——投资焦点正从硬件销售的"当下利润"，转向AI主导 的"未来生态"。 截至当地时间1月7日美股收盘，谷歌逆势增长2.43%，收报321.98美元，市值增至3.89万亿美元。 苹果股价收跌0.77%，市值定格在3.85万亿美元。距离去年11月底谷歌超越微软进入市值前三，仅过去 不到两个月。 回顾2025年全年，谷歌股价累计飙升近65%，成为美股七大科技巨头中的涨幅领跑者。在去年初谷 歌一度面临反垄断诉讼、搜索竞争加剧等多重不确定性因素，但在下半年，随着其AI全栈式布局成果 显现，股价强势反弹，并被华尔街普遍看好在未来一年继续上行。目前，全球市值前三已形成英伟达、 谷歌、苹果的新格局。 市场普遍认为，市值排名的逆转是谷歌与苹果在人工智能战略方向上的差别。天使投资人、资深人 工智能专家郭涛表示，谷 ...

2026.01. 09 本文字数：675，阅读时长大约1分钟 | 代码 | 名称 | 两日图 | 现价 | 涨跌 | 涨跌幅 | | --- | --- | --- | --- | --- | --- | | 000001 | 上证指数 | NM | 4086.76 | 3.78 | 0.09% | | 399001 | 深证成指 | Myr | 13917.78 | -41.70 | -0.30% | | 399006 | 创业板指 | 14 | 3279.38 | -22.93 | -0.69% | | 000680 | 科创综指 | 1 m | 1758.30 | -8.27 | -0.47% | 盘面上，算力硬件产业链调整，CPO、存储器方向领跌；半导体、锂矿、脑机接口题材跌幅靠前。 房地产、油气板块涨幅靠前，商业航天题材仍局部活跃。 个股方面，中国石化竞价涨停，消息面上，中国石化和中国航油获批实施重组。 | | 6.68 +0.61 +10.05% | | | | 中国石化 1 立即 600028 交易 | | | --- | --- | --- | --- | --- | --- | --- | ...

Group 1 - The Hang Seng Index opened up by 0.47%, while the Hang Seng Tech Index rose by 0.38%. Oil and gas stocks were active, with China Petroleum & Chemical Corporation increasing by nearly 2%. Tech stocks showed mixed performance, with Alibaba rising over 3%. AI model company MiniMax saw a first-day surge of over 42% [1] - Guolian Securities maintains a positive outlook on the revaluation of AI in China, recommending focus on platform-based internet companies with advantages in computing resources, model capabilities, and application scenarios, as well as AI ecosystem companies with model or application capabilities [1] - Yuanta International believes that the Hong Kong stock market is currently in a relatively flat period, with market sentiment awaiting further catalysts. The expectation of interest rate cuts by the new Federal Reserve Chairman in January could bring new incremental funds to the Hong Kong market, while expectations of U.S. rate cuts may lead to further appreciation of the Renminbi against the U.S. dollar, enhancing the attractiveness of Chinese assets, including Hong Kong stocks, to overseas investors [1] Group 2 - Qianhai Kaiyuan predicts that by 2026, the Hong Kong stock market (including the Hang Seng Index and Hang Seng Tech Index) is expected to regain upward momentum driven by capital inflows. As the market deepens and expands, investment opportunities will significantly increase, enhancing investor sentiment. More investors are expected to recognize this as a potential slow bull market lasting 2-3 years, or even longer, which could effectively stimulate consumption and promote economic recovery [1] - China Merchants Securities suggests that the market has experienced a valuation pullback, and with macro domestic demand constraints limiting the index's upward ceiling, it will enter a phase of structural differentiation driven by quality. The firm recommends a dual approach: focusing on the rebound of the Hang Seng Tech Index (AI internet leaders) and enhancing a "barbell" strategy with offensive sectors like non-ferrous metals and insurance, while defensive sectors should include high-dividend assets as a stabilizing force [2]

隔夜美股三大指数涨跌不一，中概指数涨1.09%。连续2日走低的港股三大指数高开，恒指涨0.47%，国 指涨0.35%，恒生科技指数涨0.38%。大型科技股多数上涨，其中阿里巴巴涨近4%，京东涨超3%，百度 则跌2.49%；国际油价上涨，三桶油集体高开，风电股、海运股、稀土概念股齐涨。另外，脑机接口概 念股、生物医药股走低。三只新股今日上市，MINIMAX-WP高开42.67%，金浔资源高开26.67%，瑞博 生物-B高开29.38%。 本文源自：金融界AI电报 ...

本文源自：金融界AI电报 港股部分科网股高开，阿里巴巴-W、京东集团-SW高开超3%，哔哩哔哩-W、阿里健康高开2%，金山 软件涨超1%。 ...

Core Viewpoint - Bilibili-W (09626) shows a strong performance in its advertising business, with user growth and engagement expected to continue positively into 2025 and beyond, driven by high-quality mid-to-long video content promotion [1] Group 1: Advertising Business Performance - Bilibili-W's advertising business is experiencing stable growth, with a 30% year-on-year increase in e-commerce advertising revenue during the 2025 "Double Eleven" period [1] - AI-related advertisements are emerging as a new highlight for the company [1] - The advertising load rate is maintained at approximately 7% throughout the year, with growth primarily driven by pricing increases [1] Group 2: User Engagement Metrics - In Q3 2025, Bilibili-W's Daily Active Users (DAU) reached 117 million, representing a 9% year-on-year increase, with DAU accounting for 31% of Monthly Active Users (MAU) [1] - The average daily usage time is 112 minutes, reflecting a 6% year-on-year growth [1] - The company maintains a conservative approach to advertising commercialization, with an advertising load rate of only 5-8%, indicating significant room for growth in this area [1]

Market Overview - The Hong Kong stock market opened higher on January 9, with the Hang Seng Index rising by 0.47% to 26,272.54 points, the Hang Seng Tech Index increasing by 0.38% to 5,699.97 points, the State-Owned Enterprises Index up by 0.35% to 9,070.91 points, and the Red Chip Index gaining 0.45% to 4,112.86 points [1] - Major technology stocks saw positive movement, with Alibaba up 3.79%, JD Group up 3.31%, and Bilibili up 2.95%. However, Meituan and Kuaishou experienced declines of 0.99% and 0.90%, respectively [1] - Oil stocks generally rose, with PetroChina increasing by over 1%. Chinese brokerage stocks were active, with Dongfang Securities rising by nearly 1% [1] - The biopharmaceutical sector saw a pullback, with BeiGene down over 3% [1] - Three new stocks were listed today, all opening higher: Reborn Bio-B surged over 29%, MINIMAX soared over 42%, and Jinxun Resources rose over 26% [1] Company News - Fast Retailing (06288.HK) reported first-quarter earnings for the period ending November 30, 2025, with revenue of 1,027.745 billion yen, a year-on-year increase of 14.8%, and net profit of 147.445 billion yen, up 11.7% year-on-year [2] - Vanke Enterprises (02202.HK) announced that Yu Liang has resigned from his positions as director and executive vice president due to retirement [3] - Baolong Real Estate (01238.HK) projected a total contract sales amount of approximately 7.272 billion yuan for 2025, a year-on-year decrease of 43.13% [4] - China General Nuclear Power (01816.HK) expects a total on-grid electricity of approximately 2,326.48 billion kilowatt-hours for 2025, a year-on-year increase of 2.36% [4] - Meirui Health International (02327.HK) plans to acquire 100% equity of Jiangsu Yide for 125 million yuan [5] Strategic Developments - CWT International (00521.HK) has formalized a memorandum of cooperation with SF Express Singapore to jointly build a one-stop local and international logistics service [6] - Dimy Life Holdings (01667.HK) has entered into a strategic cooperation framework agreement with partners to venture into the electronic vaporization industry [7] - Xianjian Technology (01302) received formal registration approval from the National Medical Products Administration for its G-iliacTM Pro iliac artery stent system [8] Stock Buybacks - Tencent Holdings (00700.HK) repurchased 1.034 million shares for 636 million HKD at prices ranging from 610.5 to 618.5 HKD [8] - Xiaomi Group (01810.HK) repurchased 5 million shares for 191 million HKD at prices between 38.04 and 38.16 HKD [9] - Bairong Cloud (06608.HK) repurchased 415,000 shares for 51.783 million HKD at prices between 12.41 and 12.51 HKD [10] - Juzhi Biotechnology (02367.HK) repurchased 40,000 shares for 13.7106 million HKD at prices between 34.12 and 34.44 HKD [11] Institutional Insights - Everbright Securities suggests that domestic policy initiatives combined with a weaker US dollar may lead to continued upward movement in the Hong Kong stock market, highlighting strong overall profitability and relatively low valuations [12] - Dongwu Securities anticipates significant catalysts for the commercial aerospace industry in 2026, particularly with the launch of multiple reusable and large-capacity commercial rockets [12] - Kaiyuan Securities notes a "dual-drive" investment logic in semiconductor materials and equipment, driven by supply chain security concerns and recent capital investments in domestic manufacturing [12]

上天天基金APP搜索777注册即可领500元券包，优选基金10元起投！限量发放！先到先得！ 当地时间周四，美股三大指数涨跌不一，道指上涨0.55%，纳指下跌0.44%，标普500指数 上涨0.01%，大型科技股多数下跌。中概股方面，纳斯达克中国金龙指数涨1.09%，热门中 概股多数上涨。 | 代码 | 名称 | 现价 | 涨跌 | 涨跌幅 | | --- | --- | --- | --- | --- | | DJI | 道琼斯工业平均 | 49266.11c | 270.03 | 0.55% | | IXIC | 纳斯达克指数 | 23480.02c | -104.25 | -0.44% | | SPX | 标普500 | 6921.46c | 0.53 | 0.01% | 在最近公布的采访中，美国总统特朗普表示已敲定下一任美联储主席提名人选。据美国国会 预算办公室预测，美联储今年可能进一步小幅降息。 美股科技股走弱，中概股走强 当地时间1月8日，美股大型科技股普遍下跌，英特尔跌3.57%，英伟达跌2.15%，微软跌 1.11%，奈飞、苹果微跌。而谷歌、亚马逊和特斯拉涨超1%。 存储概念股出现了回调，希捷科 ...

Group 1 - The Hong Kong stock market experienced a volatile pullback, with the National Index of Hong Kong Stock Connect Technology falling by 0.97% as of the close on January 8 [1] - Notable gainers among the index constituents included Horizon Robotics-W, which rose over 3%, and Bilibili-W, Huahong Semiconductor, and Kingsoft Biotechnology, each increasing by over 2% [1] - The Tianhong Hong Kong Technology ETF (159128) recorded a trading volume exceeding 53 million yuan and a turnover rate of over 3% as of the previous close [1] Group 2 - China Galaxy Securities anticipates that the trading activity in the Hong Kong stock market will continue to rise due to multiple positive factors, predicting an overall upward trend [2] - The technology sector is expected to remain a long-term investment focus, benefiting from price increases in the industry chain, mergers and acquisitions, and domestic production [2] - Industrial growth in the AI sector is expected to drive a bullish market in Hong Kong stocks through 2026, with a potential for coordinated profit and liquidity growth [2]

市场有风险，投资需谨慎。本文不构成个人投资建议，也未考虑到个别用户特殊的投资目标、财务状况或需要。用户应考虑本文中的任何 意见、观点或结论是否符合其特定状况。据此投资，责任自负。 恒指高开0.47%，MiniMax港股上市首日涨超42%。阿里巴巴、京东集团涨超3%，哔哩哔哩、腾讯音乐 涨超2%。 风险提示及免责条款 ...