Group 1 - The core viewpoint of the articles indicates a significant inflow of southbound funds into the Hong Kong stock market, with a net inflow of 28.8 billion HKD on January 6 and a record high of 187.2 billion HKD on January 5, marking the highest single-day inflow in nearly two and a half months [1] - In 2025, the total net purchase of southbound funds reached 1.4 trillion HKD, representing a year-on-year growth of 73.89%, the highest since the launch of the Shanghai-Hong Kong Stock Connect in 2014 [1] - Xu Meng, head of the quantitative investment department at Huaxia Fund, predicts that 2026 will be a year of valuation contraction and profit growth for Hong Kong stocks, with continued inflows of southbound funds expected [1] Group 2 - The Hang Seng Technology Index ETF (513180.SH) serves as a benchmark for the Hong Kong technology sector, covering internet, hard technology, and new energy vehicle sectors [2] - The enhanced Hang Seng Technology ETF (159101.SZ) adds exposure to the biotechnology sector and increases the weight limit for individual constituent stocks to 15% [2] - The Hang Seng Internet ETF (513330.SH) focuses on software applications and internet media, with major companies like Alibaba, Tencent, and Meituan accounting for nearly 40% of its weight [2] - The Hang Seng Pharmaceutical ETF (159892.SZ) targets innovative drugs and leading CXO companies, currently characterized by low valuations and low crowding [2]

Group 1 - Core viewpoint: Zhongtai Securities initiates coverage on Tencent Holdings (00700) with a "Buy" rating, highlighting the company's potential to lead the next decade in the AI technology and computing power era, emphasizing the importance of an open ecosystem for competition [1] - Overview: Tencent is recognized as a leader in the Chinese internet sector, with a historical transformation from instant messaging to a social media giant, driven by a commitment to the ideals of an open world. The company has delivered a shareholder return of 4.28% over 24 years, with a growth pattern showing that EPS growth outpaces net profit, gross profit, and revenue growth [1] - Current strategy: The "connection" strategy is central to understanding Tencent's business logic, with its current business structure based on communication and social networking, while advertising has emerged as a new growth engine [1] Group 2 - Market potential: The C-end business is stable, while the B-end is poised for growth. The MAU is expected to remain stable, and the ARPU is projected to increase steadily with economic growth. There are significant opportunities in marketing services and cloud services as barriers lower [2] - C-end insights: In the context of a saturated domestic mobile internet market, growth in the C-end business will primarily come from enhancing user value (ARPU × LT), with international expansion also contributing to new traffic. The competitive advantage lies in a large traffic entry and strong operational capabilities [2] - B-end insights: Advertising through video accounts is expected to break through user engagement limits, while financial technology and cloud services are set to improve profitability and expand business opportunities [2] Group 3 - Investment strategy: Tencent maintains a stable asset scale with concentrated holdings, good liquidity, and a combination of business synergy and value-added potential [3] Group 4 - AI strategy: Tencent's AI strategy focuses on building an ecosystem through resource integration, with a preference for open interfaces and collaboration with partners. The company is advancing infrastructure through external purchases, self-research, and investments [4] - Current AI applications: The self-developed model "Hunyuan" and open-source initiatives are enabling AI applications across over 30 industries, with a focus on integrating AI into social ecosystems and making it accessible [4] - Future outlook: AI's contributions are expected to be more significant in B-end scenarios, enhancing existing business operations rather than just C-end value-added services. This includes expanding advertising content, improving gaming experiences, and addressing the needs of small and medium enterprises in cloud services [4]

今日三大指数集体低开，恒指开盘跌0.41%，报26601.83点，恒科指跌0.28%，国企指数跌0.3%。盘面 上，科网股涨跌不一，阿里巴巴跌超2%，百度、哔哩哔哩跌超1%，网易涨超0.5%；芯片股高开，华虹 半导体涨超2%；板块延续涨势，涨超1%；汽车股部分下跌，蔚来跌超2%。 | 名称 | 最新价 | 涨跌幅 √ | | --- | --- | --- | | 恒生科技指数 | 5809.01 | -0.28% | | 800700 | | | | 国企指数 | 9216.74 | -0.30% | | 800100 | | | | 恒生指数 | 26601.83 | -0.41% | | 800000 | | | 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不 对所包含内容的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担 全部责任。邮箱：news_center@staff.hexun.com 美股周二大幅上升，大市气氛维持良好，道指及指数再创历史新高，三大指数均录得升幅收市。美元走 势向好，美国十年期债息回升至4.17厘水平，金价 ...

| 联易融科技-W(09959) | 21.00 万 | 48.25 万 | 1.19 亿 | | | --- | --- | --- | --- | --- | | 东阳光药(06887) | 9900.00 | 42.77 万 | 62.38 万 | 0.108% | | KEEP(03650) | 10.00 万 | 35.81 万 | 105.00 万 | 0.204% | | 永升服务(01995) | 20.00 万 | 35.20 万 | 276.20 万 | 0.160% | | 易点云(02416) | 13.90 万 | 32.04 万 | 1147.70 万 | 2.192% | | 信利国际(00732) | 21.40 万 | 23.11 万 | 1.23 亿 | 3.887% | | 宝胜国际(03813) | 44.70 万 | 21.23 万 | 109.70 万 | 0.021% | | 中视金桥(00623) | 10.50 万 | 20.43 万 | 76.90 万 | 1.640% | | 同方友友(01868) | 50.20 万 | 20.00 万 | 146.00 ...

Market Overview - The U.S. stock market saw all three major indices close higher, with the Dow Jones and S&P 500 reaching all-time highs [2] - The semiconductor sector showed strong performance, while Tesla's stock fell over 4% [6][7] Federal Reserve Insights - Federal Reserve Governor Milan stated that a rate cut of over 100 basis points is appropriate this year, supported by economic data [4] - He emphasized that core inflation is nearing the Fed's target, and current policies are restrictive, potentially dragging down the economy [5] Semiconductor Sector - The Philadelphia Semiconductor Index rose by 2.75%, with significant gains in companies like Microchip Technology, Micron Technology, and NXP Semiconductors [10][12] - Market expectations indicate that DRAM prices may rise by 60% to 70% in Q1 2026 due to increased demand from AI and data center investments [11] Precious Metals - Gold and silver prices increased, with COMEX gold futures surpassing $4500 per ounce and silver futures breaking $81 per ounce [13][14] - Morgan Stanley predicts gold prices could reach $4800 per ounce by Q4 2026, driven by declining interest rates and continued buying from central banks [14] Chinese Internet Stocks - The Nasdaq Golden Dragon China Index fell by 0.78%, with notable declines in Alibaba, Xiaomi, and Baidu, while Pinduoduo and BYD saw slight increases [17]

(一)重要市场新闻 1、美股三大指数集体收涨，道指涨0.99%，纳指涨0.65%，标普500指数涨0.62%，其中，道指、标普 500指数均创历史收盘新高；大型科技股涨跌不一，亚马逊涨超3%，微软、英特尔涨逾1%，Meta小幅 上涨；特斯拉跌超4%，苹果跌超1%，英伟达、谷歌、奈飞小幅下跌；美光科技涨超10%，再创历史新 高。中概股涨跌不一，纳斯达克中国金龙指数跌0.78%，禾赛涨超10%，小马智行涨逾5%，华住、联电 涨逾4%，霸王茶姬、传奇生物涨逾3%。 2、据媒体报道，近期脑机接口"独角兽"强脑科技完成约20亿元融资，为脑机接口领域除马斯克旗下 Neuralink以外世界第二大规模融资。强脑科技与DeepSeek、宇树科技、《黑神话：悟空》等科技企业 并称为'杭州六小龙'，专注脑机接口领域产品研发，目前已经获得美国FDA认证，欧洲CE认证，为世界 脑机接口领域的研发投入最大的企业之一，产品曾获《时代》周刊年度最佳发明，是全球极其少数实现 脑机接口产品规模性量产的企业。 点评：脑机接口下游应用市场潜力大，全球脑机接口医疗应用市场规模有望在2030年达到400亿美元， 2040年达到1450亿美元。脑机接口 ...

【导读】隔夜美股集体走强，美联储官员称今年应降息超100点 隔夜美股市场三大指数全线收涨，道指、标普500指数均创历史新高。半导体概念股走强，特斯拉跌超4%；金银价格齐升；美联储理事米兰发布降息重磅 讲话。 米兰表示，基础通胀水平已基本回落至美联储2%的目标附近，他预计美国经济今年将保持强劲增长。他认为，如果美联储未能下调短期借贷成本，这一 前景可能会被破坏。 此外，综合央视新闻等报道，美国高院的日程表显示，1月9日为意见发布日，本周五是特朗普关税案宣判的最早时间节点。 特斯拉跌超4% 美东时间1月6日（周二），截至收盘，道琼斯工业指数上涨0.99%，报49462.08点；纳斯达克指数上涨0.65%，报23547.17点；标普500指数上涨0.62%，报 6944.82点。 美股科技"七巨头"涨跌不一。特斯拉跌超4%，苹果、谷歌、英伟达均收跌；亚马逊、微软、脸书分别上涨3.38%、1.20%、0.28%。 Meta在公告中宣布，Meta Ray-Ban Display自去年秋季上市以来，市场反响异常热烈，需求远超预期，目前的产品等待名单已经排到2026年以后的较晚时 间。鉴于这种前所未有的需求以及有限的产能， ...

当地时间1月6日，美股三大指数全线走高，道指与标普500指数均刷新历史收盘纪录。截至当日收盘， 道琼斯工业平均指数表现尤为亮眼，大幅上涨0.99%，逼近5万点大关，收报49462.08点。标准普尔500 指数与纳斯达克综合指数分别上涨0.62%和0.65%，报收6944.82点及23547.17点。此外，纽约证券交易 所综合指数亦同步上扬0.62%，最终收于22570.82点。 | Q | 道琼斯工业平均指数 | ↑ 0.99% | | --- | --- | --- | | | 49,462.08 | | | Q | 标准普尔500指数 | ↑ 0.62% | | | 6.944.82 | | | Q | 纳斯达克综合指数 | ↑ 0.65% | | | 23,547.17 | | | Q | 纽约证券交易所综合指数 | ↑ 0.62% | | | 22,570.82 | | 道指、标普均创收盘历史新高谷歌财经 科技板块方面，大型科技股表现分化。亚马逊表现强劲，涨幅超3%；微软与英特尔紧随其后，均有逾 1%的涨幅；Meta也小幅收涨。相比之下，特斯拉领跌，跌幅超过4%；苹果下跌逾1%；英伟达、谷歌 及奈飞则 ...

Group 1: Federal Reserve Policy Signals - Federal Reserve Governor Milan indicated that further economic data trends may support additional rate cuts, suggesting a reduction of over 100 basis points this year [1][2] - Core inflation is nearing the Fed's target, and current policies are restrictive, potentially dragging on the economy [2] - Richmond Fed President Barkin noted that after a cumulative cut of 75 basis points by 2025, rates would enter a neutral range, emphasizing the need to balance employment and inflation [2][3] Group 2: Market Reactions - U.S. stock markets saw significant gains, with the Dow and S&P 500 reaching all-time highs, and semiconductor stocks experiencing substantial increases [1][4] - The Philadelphia Semiconductor Index rose by 2.75%, with notable gains in storage chip stocks, including SanDisk up over 27% and Western Digital up over 16% [4] Group 3: Semiconductor Industry Insights - Samsung and SK Hynix plan to increase server DRAM prices by 60% to 70% in Q1 2026 compared to Q4 2025, driven by AI demand and data center investments [5] - Analysts predict Samsung's Q4 2025 operating profit to reach 16.9 trillion KRW, a 160% year-on-year increase, with some estimates exceeding 20 trillion KRW due to unexpected price rises [5] Group 4: Data Center Cooling Market - Data center cooling stocks fell sharply following comments from NVIDIA's CEO regarding new cooling technologies that do not require water [6]

2026.01. 07 本文字数：1628，阅读时长大约3分钟 作者 | 第一财经 胡弋杰 Alphabet A类与C类股分别下跌0.69%和0.87%。 中概股整体承压，纳斯达克中国金龙指数收跌0.78%。个股中，中驰车福暴涨70.83%，日月光半导体 上涨3.18%，拼多多逆势收涨2.97%；阿里巴巴下跌3.43%，百度跌2.18%，蔚来跌1.65%，京东跌 0.17%，富途控股跌0.39%，腾讯控股ADR小幅回落0.09%。 Argent Capital驻圣路易斯的投资组合经理杰德·埃勒布鲁克表示："我认为大型科技公司将迎来非常 强劲的财报季。我们听到的资本支出预期仍在被上调，这为AI相关股票提供了持续支撑。" 美国股市周二集体收高，道指和标普500指数均创历史收盘新高。芯片股在人工智能（AI）乐观情绪 再度升温的带动下全线走强。与此同时，莫德纳在美国银行上调目标价后大涨，提振医疗保健板块。 与此同时，市场整体对美国突袭委内瑞拉带来的地缘政治风险反应相对克制，投资者注意力重新回到 AI产业链、即将开启的财报季以及本周密集公布的美国就业数据。 截至收盘，标普500指数上涨0.62%，报6944.82点；纳 ...