格林大华期货研究院 证监许可【2011】1288 号 2026 年 2 月 12 日 星期四 Morning session notice 早盘提示 更多精彩内容请关注格林大华期货官方微信 研究员： 于军礼 从业资格： F0247894 交易咨询资格：Z0000112 联系方式：yujunli@greendh.com | 板块 | 品种 | 多（空） | | | --- | --- | --- | --- | | | | | 【重要资讯】 | | | | | 1、Seedance2.0 从"可用"到"惊艳"的跨越，意味着中国科技公司真正站在了全 | | | | | 球人工智能竞争的最前沿。当虚构的内容拥有了超越真实的质感，是在数字空间中 | | | | | 构建了一套自洽的、足以乱真的平行物理规律。这种力量的释放是惊人的。 | | | | | 2、高盛指出，全球资金正加速从金融资产转向大宗商品等硬资产以寻求避险，形 | | | | | 成"硬资产轮动"。由于金属市场规模较小、供应弹性有限且更易储存，其受资金 | | | | | 流入的边际影响尤为显著。 | | | | | 3、Anthropic 报告指出，编 ...

当地时间2月9日，美国标普500保险指数单日下挫超3%，创下2025年10月以来的最大跌幅，一众老牌保 险经纪巨头的股价纷纷暴跌，跌幅高达7-12%。 这场暴跌的导火索，是OpenAI批准了首批基于ChatGPT的保险应用。其中既包括美国在线保险平台 Insurify推出的车险比价应用，也包括西班牙保险公司Tuio的房屋保险报价工具。这也意味着，AI技术 正式切入保险分销的核心环节。 全球保险中介行业正遭遇AI的降维打击。 熊彼特曾说："创造性破坏是经济发展的本质，但对于身处其中的个体和行业，破坏往往先于创造到 来。"对于保险中介行业而言，AI带来的冲击也意味着一场前所未有的生存挑战。 图片来源：Yahoo finance 01 AI利刃刺向保险中介，保险购买进入智能对话时代，全球保险经纪巨头估值暴跌 来源：慧保天下 资本市场中股价的短期波动本就受多重因素交织影响，但板块内一众龙头个股出现集体暴跌，背后必然 有直接且重磅的利空消息驱动。 此次全球保险经纪巨头股价集体重挫，其直接原因正是AI技术落地保险领域带来的去中介化冲击戳中 了传统保险中介行业的生存命脉。 2月9日，美国头部在线保险平台Insurify发布 ...

Core Viewpoint - The launch of Altruist Corp.'s AI tool for tax strategy planning has raised concerns about the future of traditional wealth management firms, indicating a potential disruption in their core business model [1][2][4]. Group 1: Market Reaction - Following the announcement of Altruist's AI tool, shares of major wealth management firms experienced significant declines, with Charles Schwab (SCHW) dropping 9.5% intraday and closing down 7.4%, while Raymond James Financial Inc. (RJF) and LPL Financial Holdings Inc. (LPLA) saw declines of over 9% and 11% respectively [2]. - The sell-off in wealth management stocks reflects broader market anxieties regarding AI's potential to disrupt financial advisory and wealth management services, leading to fears of efficiency gains being eroded by competition and long-term fee compression [4][6]. Group 2: Broader Industry Impact - The threat posed by AI to traditional business models is spreading across various sectors, with wealth management stocks being the latest to feel the impact [5]. - Prior to the wealth management stock declines, insurance brokerage stocks had already faced significant losses, with the S&P 500 Insurance Index dropping 3.9%, marking its largest single-day decline since October 2025 [7]. - The introduction of new AI tools by companies like Insurify has raised concerns about the potential threat to the consulting business of insurance brokers, although some analysts view these tools as efficiency enhancers rather than existential threats [9]. Group 3: Market Trends and Analyst Insights - The recent sell-off in stocks across software, financial services, and asset management sectors resulted in a combined market value loss of $611 billion [10]. - Since the launch of OpenAI's ChatGPT, the potential for AI disruption has been a hot topic, with investors previously focusing on beneficiaries of AI advancements, such as semiconductor and network equipment companies [12]. - Despite the current market turmoil, analysts project a 19% growth in earnings for S&P 500 software and services constituents by 2026, indicating a potential recovery in the sector [14].

Group 1: Industry Insights - Premier Li Qiang emphasized the need for rational development of rare earth resources and the expansion of rare earth technology applications in new energy and new materials [1] - The central bank plans to continue implementing a moderately loose monetary policy, utilizing tools like reserve requirement ratio cuts and interest rate reductions to maintain ample liquidity and relatively loose social financing conditions [3] - The AI threat to traditional business models is spreading to wealth management stocks, with significant market reactions observed, such as Charles Schwab's stock dropping over 9% due to concerns about AI tools targeting core business areas [4] Group 2: Company Updates - MSCI announced its quarterly index adjustments, including the addition of 37 stocks such as Liou Co., Silver Nonferrous, and Anji Technology to the MSCI China Index, while removing 16 stocks including Great Wall Motors [2] - China Railway Construction recently won major projects totaling 451.42 billion yuan [14] - Tian Shun Wind Power signed or won new offshore orders amounting to approximately 870 million yuan [14]