格隆汇1月22日｜A股主要指数冲高回落，深成指率先翻绿，贵金属、半导体芯片、电网等方向跌幅居 前。 ...

(原油) 美国仍持续加强在中东地区的军事部署。特朗普称希望不会对伊朗采取进一步军事行动，但特别提 到美军又订购了25架B-2隐形轰炸机，啥萨克斯坦两大油田的生产因不可抗力或将再暂停7-10天。 美元持续走软利于提振外盘油价。 IEA月报上调对2026年需求预期，一季度供应过剩压力虽仍明显 但较此前预期有所缩窄。航运数据显示委内瑞拉原油出口量约780万桶,按照与美国达成的价值约 20亿美元供应协议来看,委内石油出口进展缓慢。短期地缘局势紧张及美元走弱对油价起到支撑, 但库存累积压力同样不可忽视,油价反弹空间预计受限。 综合晨报 2026年01月22日 【责金属】 隔夜贵金属震荡回落。特朗普称与北约达成格陵兰岛合作框架,收回对欧洲入国的关税威胁,明确 不会武力夺岛。欧美围绕格陵兰岛博弈继续犹动金融市场，特朗普对于全球秩序的挑战令贵金属中 期强势难改,短期或有一定调整修复技术面超买。 gtaxinstitute@essence.com.cn 隔夜沪铝延续震荡。美欧围绕格陵兰岛摩擦升级，金融市场情绪面临摇摇，沪铝高位震荡，连续多 日收长下影线显示23800元位置暂具支撑，暂时观望为主。 （铸造铝合金） 铸造铝合金跟随 ...

Core Viewpoint - The market continues to consolidate with a focus on stability following the release of macroeconomic data by the National Bureau of Statistics for Q4 and the entire year, while geopolitical tensions abroad lead to volatility in capital markets [1] Market Performance - The A-share market shows strong performance in the precious metals sector, driven by rising risk aversion and increasing prices of precious metals [1] - Short-term market sentiment remains positive, with investors holding high expectations for the stock market in 2026, indicating a strong consolidation phase [1] Sector Highlights - Strong performances are noted in sectors such as non-ferrous metals, electronic components (CPO), and machinery equipment [1] - Significant trading volume increases in the Shanghai Stock Exchange 50 and CSI 300 ETFs suggest a shift and adjustment in asset allocation by some investment institutions, impacting the performance of related sectors like banking and coal [1] Market Outlook - The short-term market is expected to experience strong consolidation, while the medium-term trend is anticipated to stabilize and rise [1] - Attention is drawn to changes in overseas factors, as well as shifts in A-share trading volume and sector hotspots [1]

【A 股大势研判】 英大证券研究所证券研究报告 近期欧美关税摩擦再度升级等不确定性，全球风险偏好普遍降温，资金纷纷 涌入黄金等避险资产。不过，周三 A 股展现韧性。早盘沪深三大指数集体低开， 但随后低开高走，午后虽一度纠结拉锯，但最终红盘报收。盘面上看，贵金属板 块延续强势，半导体、存储芯片等领域领涨。 金 点 策 略 晨 报 A 股市场或仍处于震荡整固中，年报预增主线确定性较强 观点： 总量视角 2026 年 1 月 22 日 当前 A 股走势，可以用"纠结"来形容。一方面，市场风格轮动加快，前期涨 幅较大的热点板块有所回落，而具备业绩支撑的方向获资金承接，整体呈现"调整 有支撑、上行有阻力"的格局。另一方面，尾盘沪指的突然回落，也印证了当前市 场仍处于反复震荡整固的过程中。这一波动既源于部分资金对短期涨幅的获利了 结，也凸显出在全球不确定性尚未消散前，市场情绪的谨慎。 展望后市，短期市场可能延续震荡整固。理由如下：一是量能萎缩。周三两 市成交额萎缩至 2.6 万亿附近，增量资金观望；二是美欧贸易摩擦升级引发全球 市场避险情绪升温；三是 1 月的最后几日将迎来年报预告披露高峰，市场正处于 业绩预期与基本面验 ...

我们不是资讯的搬运工 而是有态度的发现者 万和财富早班车 2026年1月22日 2. 六部门延续实施托育行业税费优惠政策 母婴行业有望站上风 口,相关个股:孩子王(301078)、爱婴室(603214)等 3. 多家银行卫星近期集中上天 卫星产业运营价值加速释放,相 关个股:航宇微(300053)、航天宏图(688066)等 三、上市公司聚焦 1. 锐科激光(300747):抵制恶意低价销售、非正规渠道销售激 光器等扰乱市场价格行为 | ● 国内金融市场 ● | | | | ● 股指期货 · | | | --- | --- | --- | --- | --- | --- | | 品种 | 收盘 | 涨跌幅 | 品种 | 收盘 | 涨跌幅 | | 上证指数 | 4116.94 | 0.08% | 上证当月连续 | 3069.80 | -0.07% | | 深证成指 | 14255.13 | 0.70% | 沪深当月连续 | 4724.20 | 0.35% | | 创业板指 | 3295.52 | 0.54% | 恒生期货指数 | 34453.49 | 0.93% | 宏观消息汇总 1. 工信部:支持地方因地制宜 ...

国泰君安期货商品研究晨报-贵金属及基本金属 观点与策略 | 黄金：再创新高 | 2 | | --- | --- | | 白银：关税预期波动 | 2 | | 铜：风险情绪稍有回升，支撑价格 | 4 | | 锌：下方有支撑 | 6 | | 铅：LME库存减少，支撑价格 | 8 | | 锡：关注缅甸复产 | 9 | | 铝：24000一线震荡 | 10 | | 氧化铝：反弹沽空 | 10 | | 铸造铝合金：跟随电解铝 | 10 | | 铂：高位震荡 | 12 | | 钯：金银回调，上方承压 | 12 | | 镍：印尼言论反复扰动情绪，镍价宽幅震荡运行 | 14 | | 不锈钢：盘面锚定矿端矛盾，镍铁跟涨支撑重心 | 14 | 请务必阅读正文之后的免责条款部分 1 国 期货研究 2026年01月22日 商 品 研 究 泰 君 安 期 货 研 究 所 商 品 研 究 2026 年 1 月 22 日 黄金：再创新高 白银：关税预期波动 刘雨萱 投资咨询从业资格号：Z0020476 liuyuxuan023982@gtjas.com 【基本面跟踪】 贵金属基本面数据 | | | 昨日收盘价 | 日涨幅 | 昨日夜盘收盘价 ...

Core Viewpoint - The recent fluctuations in gold prices are driven by geopolitical tensions and the subsequent easing of those tensions, particularly related to President Trump's stance on Greenland, which has influenced market sentiment and investment behavior [1][2]. Group 1: Market Reactions - On January 21, 2026, gold prices reached a historical high of $4,880 due to rising risk aversion stemming from escalating US-European tensions [1] - Following President Trump's announcement of a framework agreement regarding Greenland, gold prices experienced a significant drop, falling below $4,760 during trading before slightly recovering to close at $4,836.20 per ounce, marking a 1.48% increase in COMEX gold futures [1] - The gold ETF 华夏 (518850) rose by 2.96%, while the gold stock ETF (159562) increased by 5.73%, and the non-ferrous metals ETF (516650) gained 2.8% [1] Group 2: Long-term Trends - Analysts note that the recent adjustment in gold prices reflects the dual nature of safe-haven assets, which shine during crises but face profit-taking pressures when risks diminish [2] - Despite the short-term fluctuations, the long-term upward trend in gold prices is supported by ongoing global economic uncertainties, including persistent geopolitical tensions, inflationary pressures, and supply chain vulnerabilities, which are expected to continue into 2026 [2]

Core Viewpoint - The article discusses the evolving multipolar world order, highlighting the geopolitical tensions and their impact on various markets, particularly focusing on commodities like oil, lithium carbonate, and precious metals [1][2][4]. Group 1: Geopolitical Developments - The U.S. has officially exited the World Health Organization after a year of submitting its application, which reflects a significant shift in international relations [1]. - Tensions surrounding Greenland's sovereignty have been emphasized, with Denmark firmly stating it will not negotiate with the U.S. on this matter [1]. Group 2: Commodity Market Insights - **Oil**: The SC night market saw a 1.22% increase, with geopolitical risks diminishing as Trump adopts a wait-and-see approach regarding Iran. The OPEC report predicts stable demand for oil from member countries, with daily demand expected to rise to 43 million barrels by 2026 [2][15]. - **Lithium Carbonate**: The weekly production of lithium carbonate increased by 70 tons to 22,605 tons, with strong terminal demand. However, the price surge may suppress end-user demand in the short term [3][25]. - **Precious Metals**: Gold prices continue to rebound due to rising geopolitical uncertainties, while silver and platinum are supported by supply-demand gaps. The macroeconomic environment, including easing inflation pressures in the U.S., is expected to support the long-term upward trend of precious metals [4][20]. Group 3: Financial Market Trends - The stock market is experiencing a shift from valuation-driven growth to profit-driven growth, with expectations of continued upward movement supported by supply-side reforms and economic recovery [12]. - The bond market shows a slight increase in long-term yields, with the central bank maintaining a stable monetary policy while indicating potential for further easing [13]. Group 4: Industry-Specific Developments - **Artificial Intelligence**: The core industry scale of AI in China is expected to exceed 1.2 trillion yuan by 2025, with significant advancements in humanoid robots and 6G technology trials [9]. - **Agricultural Products**: Brazil's soybean harvest is progressing, with expectations of increased production, while domestic pressures on soybean prices remain due to high inventory levels [30]. Group 5: Shipping and Logistics - The shipping index is experiencing downward pressure as Maersk reduces prices to attract cargo ahead of the Chinese New Year, indicating a potential decline in freight rates [34].

专题：四大证券报精华 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 1月22日（星期四），今日报刊头条主要内容精华如下： 中国证券报 出圈的"工具基" 流量打法惹争议 近期，在互联网渠道流量打法的助推下，部分"工具基"迎来巨量申购资金，成为行业关注焦点。当这类 辨识度极高的主题产品，遇到互联网平台的巨大流量效应，投资者"炒基"的情绪一触即燃，短期追涨杀 跌的行为更甚。 投资铜条火了！但"变现要去废品回收站" 随着金价、银价一路走高，贵金属投资热已从金条、银条蔓延至铜条。近日，"投资铜条"在社交媒体上 走红。1月21日下午，中国证券报记者实探深圳水贝发现，确有商户出售投资铜条，铜条上印有"Cu纯 铜999.5"字样，规格为1000g，售价为255元。 筹划重大资产重组！停牌前涨停 1月21日晚，韩建河山披露《关于筹划重大资产重组的停牌公告》称，公司正在筹划以发行股份及支付 现金的方式收购辽宁兴福新材料股份有限公司（简称"标的公司"或者"兴福新材 "）52.51%股权，实现 对标的公司的控制及合并报表，同时募集配套资金。本次交易不构成关联交易，构成重大资产重组，但 不构成重组上市。 马 ...

周三格陵兰危机出现逆转，特朗普称与北约就格陵兰的"未来协议"达成框架，并且在此前讲话中表示不 会动用武力夺取该岛，受此影响原油价格小幅上涨，黄金则在创下历史新高后回落。伦敦铜价走高。 原油：油价小幅上涨 市场揣摩特朗普所说的格陵兰协议"框架" 原油周三小幅走高，交易员在评估美国总统特朗普所说的美国已就格陵兰问题达成一项协议"框架"。 WTI原油上涨不到1%，收于每桶61美元下方，跟随股市与美元走高。特朗普表示，他将不会实施此前 威胁的、针对反对他得到格陵兰的欧洲国家加征的关税。 此外投资者对美国可能针对伊朗采取军事行动的担忧再度升温，给油价增添了额外的地缘政治风险溢 价。特朗普仍在向助手施压，要求就伊朗提出"决定性"的军事选项。 Buffalo Bayou Commodities的宏观交易主管Frank Monkam表示，油市反应似乎相对温和。他说，"今天 的价格表现基本是在区间内交易，带有上行偏向；在伊朗局势更清晰之前，投资者会趁回调买入。眼下 伊朗暂时退居次席，格陵兰/达沃斯成了主线"。 国际能源署上调了其对2026年全球石油需求增长的预测，略微削减了所预计的供应过剩规模，也帮助为 市场提供了支撑。不过， ...