Group 1 - Satellite-related ETFs and tourism-related ETFs showed significant gains from December 15 to 19, with the highest increase being 7.04% for the E Fund Satellite ETF and over 6% for several other ETFs in these categories [1][2] - The A500 ETFs, particularly from Huatai-PineBridge and Southern, experienced substantial net inflows, with the Southern A500 ETF seeing over 10 billion yuan in net inflow during the same period [2][3] - The trading volume for A500 ETFs was notably high, with the Huatai-PineBridge A500 ETF averaging over 10 billion yuan in daily trading volume [3] Group 2 - The technology sector is expected to remain a key focus for the market, with recommendations to pay attention to areas such as computing power, semiconductors, consumer electronics, and new energy technologies [3][4] - The artificial intelligence sector is undergoing a transition from infrastructure development to broader industry applications, indicating a long-term growth potential despite short-term volatility [4] - The A500 index aligns well with the new momentum structure of "technology + manufacturing + consumption," suggesting that companies within this index may benefit from policy incentives and market opportunities [4]

Core Viewpoint - Sichuan Guanshang Technology Co., Ltd. is planning to issue shares to acquire assets and raise matching funds, focusing on expanding its business in the smart equipment sector, particularly in basic components and mixed integrated circuits [2] Group 1: Transaction Details - Guanshang Technology intends to acquire at least 60% of the equity of Jinzhou Liaojing Electronic Technology Co., Ltd. through share issuance [2] - The registered capital of Liaojing Electronic is 57 million yuan, and its business scope includes integrated circuits, electronic components design, production, and sales [2] - A framework agreement for the equity acquisition has been signed, with final terms to be determined in a formal agreement [2] Group 2: Strategic Implications - If successful, the acquisition will allow Guanshang Technology to quickly enter the integrated circuit sector, broadening its business boundaries and enhancing its product line [3] - The acquisition is aligned with the company's "military-civilian dual-use" strategy and aims to leverage Liaojing Electronic's technological capabilities to strengthen Guanshang's competitive edge in defense technology and civilian applications [3] - The deal is expected to create new profit growth points through effective business integration and synergy [3] Group 3: Future Directions - Guanshang Technology will continue to deepen technological innovation and optimize products and services to maintain its leading position in the defense information sector [4] - The company aims to expand its business areas and promote the transformation of technological achievements into civilian markets, supporting digital transformation in smart infrastructure, emergency response, and security fields [4]

贸易政策与产业、供应链联系得更紧密。报告指出，在报告期内，各国政府对农业、环境与能源等领域 实施的支持性政策显著增加，尤其是非金融支持措施大幅增长。在环境与能源领域，各国采取的政策措 施包括制定新的排放标准、安全标准、能耗要求，调整公共采购偏好，以优先购买低碳、环境友好型与 新能源产品，进行配额和许可制度改革以推动清洁能源结构调整，制定鼓励技术发展与本地化要求相关 政策以促进可再生能源装备本地生产等。在农业领域，各国出台的相关措施在报告期内显著增加，涵盖 国内支持、市场准入措施、卫生与植物检疫措施更新、出口相关措施等方面。农业政策高度关联食品安 全、供应链稳定与可持续发展目标，各国大量出台有关措施保证粮食供应安全、应对气候变化、增加本 国产能、减少进口依赖，折射出贸易政策与产业政策的高度关联。报告还注意到，许多新增产业政策措 施并非传统补贴的形式，而是通过非金融方式对特定产业给予支持，说明各国政府正在强化对关键领域 的干预和引导。世贸组织认为，有关产业政策会从国际竞争条件、价值链布局、市场准入条件等方面对 全球贸易产生结构性影响。随着全球市场干预度普遍提升，未来可能带来贸易扭曲风险、支持政策之间 的竞争性累积 ...

不过，全球贸易活动和世贸规则体系仍有韧性。报告指出，尽管2024年至2025年全球贸易环境高度紧 张，关税等贸易限制措施急剧加码，但全球贸易活动保持比预期更强的增长，多边贸易体系依然是世界 贸易的主要制度基础。报告将2025年全球货物贸易增长预测从0.9%上调至2.4%，并指出贸易活动能在 地缘政治紧张和关税累积背景下保持增长，反映出贸易需求更强，具有超出预期的韧性。报告指出，人 工智能相关产品强劲拉动全球贸易，其贸易额虽然只占全球贸易的不到六分之一，但贡献了近一半的全 球贸易增长。同时，基于世贸组织规则的多边贸易体系也展现出较强韧性，据统计，当前72%的全球货 物贸易仍在最惠国待遇规则下进行，证明了尽管单边措施频发，但大部分贸易仍依赖多边规则体系支 撑。 报告对未来贸易前景给出了较为谨慎的判断，指出中期全球贸易将因地缘政治与不确定性而放缓，尤其 是主要区域增速将放缓，全球经济前景风险上升。根据世贸组织模型预测，2026年多国将持续出台贸易 限制与保护措施，全球需求承压，货物贸易增速将比2025年有所回落。针对这一下行压力，报告呼吁各 国加强相互合作并推动有关改革，以应对当前更具风险的贸易环境。报告建议各国以 ...

Market Overview - US stock market experienced a broad decline, with the Dow Jones and S&P 500 indices falling for four consecutive trading days [2] - The Dow dropped by 228.29 points (0.47%) to close at 47,885.97, while the Nasdaq fell by 1.81% to 22,693.32, and the S&P 500 decreased by 1.16% to 6,721.43 [2] - The VIX, a measure of market volatility, surged by 6.9% to 17.62 [2] Technology Sector Performance - Major tech stocks saw significant declines, with Nvidia down 3.8%, Microsoft down 0.1%, Amazon down 0.6%, Apple down 1.0%, Meta down 1.2%, Google down 3.1%, and Tesla down 4.6% [2] - The Philadelphia Semiconductor Index fell by 3.3%, with Broadcom down 4.4% and AMD down 5.3% [3] Oracle's Data Center Investment Concerns - Oracle's stock fell by 5.4% after its largest data center partner, Blue Owl Capital, withdrew funding support for a $10 billion data center project [3] - Oracle's clarification announcement did not alleviate market concerns regarding its investment plans in artificial intelligence [4][5] Broader Economic Indicators - The MBA reported a 3.8% decline in mortgage applications due to rising average interest rates for 30-year mortgages [3] - The market is concerned about the sustainability and return on investment of significant capital expenditures in the artificial intelligence sector [5] Oil and Precious Metals Market - International oil prices rebounded significantly, with WTI crude oil rising by 1.21% to $55.94 per barrel and Brent crude oil increasing by 1.29% to $59.68 per barrel [6] - Precious metals saw gains, with COMEX gold futures up 1.00% to $4,347.50 per ounce and COMEX silver futures rising 5.64% to $66.237 per ounce, both reaching historical closing highs [6]

周三美股全线下挫，甲骨文数据中心投资消息引发科技巨头的抛售潮，道指和标普500指数连续四个交 易日走低。 截至收盘，道指跌228.29点，跌幅0.47%，报47885.97点，失守48000点关口，纳指跌1.81%，报22693.32 点，标普500指数跌1.16%，报6721.43点。科技、通信服务和工业板块领跌大盘，能源板块则逆势领 涨。衡量市场波动性的恐慌指数VIX飙升6.9%，报17.62。 【热门股表现】 地缘政治因素助推国际油价反弹超1%。 *三大股指齐挫，道指和标普500指数四连阴； *中长期美债收益率上扬，10年期美债报4.15%； *纳斯达克中国金龙指数跌近0.8%。 明星科技股普跌，英伟达跌3.8%，微软跌0.1%，亚马逊跌0.6%，苹果跌1.0%，Meta跌1.2%，谷歌跌 3.1%，特斯拉跌4.6%。 费城半导体指数跌3.3%，其中芯片制造商博通跌4.4%，AMD跌5.3%。 个股方面，甲骨文跌5.4%，据报道，这家云计算巨头最大的数据中心合作伙伴蓝猫头鹰资本将不再为 其价值100亿美元的新数据中心项目提供资金支持，公司随后的澄清公告并未打消市场担忧。 华纳兄弟探索跌2.3%，公司董事 ...

博通（AVGO）周五早盘下跌9.8%。该公司公布2025财年营收达640亿美元，并提到730亿美元的人工智 能积压订单，但股价因公司对人工智能业务毛利率较低及缺乏2026财年人工智能预测的评论而下跌。 责任编辑：张俊 SF065 博通（AVGO）周五早盘下跌9.8%。该公司公布2025财年营收达640亿美元，并提到730亿美元的人工智 能积压订单，但股价因公司对人工智能业务毛利率较低及缺乏2026财年人工智能预测的评论而下跌。 责任编辑：张俊 SF065 ...

截至发稿，ST赛为市值为33亿元。 每经头条（nbdtoutiao）——白金信用卡权益大缩水：贵宾厅限次、酒店减量⋯⋯银行吐槽没赚头，"羊 毛党"薅了个寂寞 （记者 曾健辉） 每经AI快讯，ST赛为（SZ 300044，收盘价：4.35元）12月11日晚间发布公告称，公司第六届第十六次 董事会会议于2025年12月10日在广东省深圳市南山区粤海街道高新区社区科苑南路3156号深圳湾创新科 技中心2栋A座25层会议室以现场与通讯相结合的方式召开。会议审议了《关于续聘2025年度审计机构 的议案》等文件。 2025年1至6月份，ST赛为的营业收入构成为：智慧城市占比59.92%，其他占比38.63%，人工智能领域 占比1.45%。 ...

近日，摩根资产管理发布《2026年全球市场展望》，探讨了中国及全球经济的前景， 以及投资者普遍 关注的热点话题。报告指出，在步入2026年之际，投资者正站在一个充满复杂性却又蕴含机遇的十字路 口。一方面，人工智能驱动的科技浪潮持续为增长注入活力；另一方面，全球贸易与地缘政治的波动也 预示着前路并非坦途。在这种背景下，单纯追逐单一市场或资产的机会已不足够，以全球视野构建均衡 的投资组合，并贯穿严谨的投资纪律，正成为在不确定性中把握确定性的关键。 MACD金叉信号形成，这些股涨势不错！ 在全球经济格局深刻变革的当下，摩根资产管理凭借其全球市场洞察力和卓越的资产配置能力，为投资 者提供专业、前瞻的投资解决方案，助力客户在复杂多变的市场环境中把握先机，实现长期财富增长。 展望2026年全球经济，摩根资产管理认为其可能呈现"先强后弱"的增长态势，不同经济体将演绎各自的 故事线。中国迈入"十五五"规划开局之年，在"反内卷"与产业升级中，新的增长动能正在孕育；美国在 财政刺激效应减退后，增长或趋于温和放缓，其货币政策转向的节奏成为关键变量；欧洲需要在财政扩 张与债务纪律之间谨慎权衡；而亚洲新兴市场则凭借深度嵌入全球人工智能 ...

Group 1 - The core point of the news is that the US stock market experienced a rebound, with all three major indices closing up around 1%, despite initial declines at the opening [1] - Nvidia's stock showed significant volatility, initially dropping 4% before recovering to a 2% gain, but then faced another decline towards the end of the trading session [1][4] - The rebound in the US market was attributed to positive statements from Federal Reserve officials regarding the stability of the AI-driven market and the potential for a rate cut in December, which increased market confidence [2][4] Group 2 - The performance of the US market is expected to influence the A-share market, particularly due to the impact of Nvidia on global markets [4] - A-share market is anticipated to have a noticeable rebound on Monday, driven by the significant decline experienced on Friday and the positive sentiment from the US market's recovery [4] - The A-share market's response to favorable news may be cautious, as a reversal in trends can lead to investor hesitance, especially given the current technical damage [5]