凤凰网财经讯 12月12日，三大指数开盘涨跌不一，沪指低开0.10%，深成指高开0.21%，创业板指高开 0.29%。贵金属、有色·锌、能源金属等板块指数涨幅居前，离境退税、AI手机、CPO等板块指数跌幅居 前。 | | | | | 沪深京重要指数 | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 名称 *● | 最新 | 涨幅% | | 涨跌 涨跌家数 涨速% | | 1 8 8 4 | 现手 | 金额 | | 上证指数 | 3869.41 | -0.10 | -3.91 | 923/952 | 0.00 | 405万 | 405万 | 54.81 7. | | 深证成指 | 13174.45 | 0.21 | 27.06 | 1162/1225 | 0.32 | 694万 | 694万 | 94.29 7. | | 北证50 | 1434.11 | -0.63 | -9.06 | 63/204 | -0.58 | 9.80万 | 9.80万 | 2.44亿 | | 创业板指 | 3172.73 | 0.29 | 9.06 ...

研究机构22V Research认为，尽管美股市场存在波动，但由于美国经济的强劲表现和市场对人工智能 (AI)的持续热情，做空美股仍然是一件危险的事情。22V Research的策略师认为，消费者支出的增加和 对AI的持续投资可能会支撑生产力，从而推动企业实现更高的利润，进而推高股价。 该评论发表之时，美股已陷入动荡状态，近几周来投资者对关税对经济及货币政策的影响愈发担忧，同 时人工智能领域的投资似乎也与盈利状况脱节。标普500指数从10月份的历史高点下跌了多达5.1%，但 上周又出现反弹——这凸显了在易出现大幅波动的市场中做空的危险性。 周一市场出现了异常现象便可说明做空的风险，Beyond Meat(BYND.US)的股价在没有任何明确利好消 息的情况下飙升了近37%。该股票在2021年的交易价格曾超过190美元，但在10月中旬已跌至0.52美 元。此后三天内，其股价几乎上涨了七倍，但随后又再度下跌。Mazza谈到Beyond Meat时说："做空的 持仓成本会迅速上升。" 交易员们也即将进入美股的季节性上涨期。根据LPL金融公司的数据，标普500指数在12月的平均涨幅 为1.4%，且有73%的时间会收涨 ...

22V Research的策略师表示，本月任何想要做空美股的人，最好先掂量一下美国经济的实力以及对人工 智能持续高涨的热情。 该机构的策略师表示，消费者支出的增加和AI投资可能会支持生产率，从而使企业能够通过盈利推动 股价走高。 该机构发表这番评论之际，美股在近几周已变得波动不定，投资者既担心关税对经济和货币政策的影 响，又担心对AI的投入似乎与盈利能力脱节。标普500指数从10月的历史高点一度下跌5.1%，随后在上 周上演反弹，这凸显了做空一个容易大幅波动的市场的风险。 22V联合创始人兼首席市场策略师Dennis Debusschere领导的策略师团队表示，"在这种点位做空，需要 对经济背景大幅走弱或AI资本支出前景发生重大变化有极高的确信度。" 根据S3 Partners LLC编制的数据，在11月的最后一周，美股空头遭受了800亿美元的按市值计价损失， 跌幅约为4.8%，抹去了上周之前该月累计获得的近950亿美元利润的大部分。该公司的预测分析董事总 经理Ihor Dusaniwsky表示，"空头在11月经历了过山车般的行情，在最后一周几乎回吐了该月前三周赚 取的所有利润。" 高盛的大宗经纪业务数据显示 ...

Market Overview - The three major U.S. stock indices closed down on December 1, ending a five-day winning streak, with the Dow Jones Industrial Average down 0.9%, the S&P 500 down 0.53%, and the Nasdaq Composite down 0.38% [1] Technology Stocks Performance - Popular tech stocks showed mixed results, with Broadcom down over 4%, Google, Microsoft, Intel, and TSMC down over 1%, while Nvidia, Apple, AMD, and Micron Technology rose over 1%, and Synopsys surged nearly 5% [2] Chinese Stocks - The Nasdaq Golden Dragon China Index rose by 0.87%, with notable gains from NetEase (up 5%), Alibaba (up over 4%), and New Oriental (up over 3%), while Xpeng Motors, Li Auto, iQIYI, and NIO saw declines of over 2% [2] Cryptocurrency Market - The cryptocurrency market faced a significant sell-off, with Bitcoin dropping over 5% and falling below $84,000, while Ethereum, XRP, and HYPE plummeted over 7%. Over 260,000 traders were liquidated, totaling nearly $1 billion in losses [2][5] Silver Market Dynamics - Silver prices reached a historical high of $58.8 per ounce, with a year-to-date increase exceeding 100%, significantly outpacing gold's 60% rise. The surge in silver prices is attributed to supply tightness, speculative short squeezes, and increased demand for value storage amid macroeconomic uncertainties [6][9] Factors Behind Cryptocurrency Decline - The recent cryptocurrency decline is driven by a combination of macroeconomic tightening, structural market weaknesses, and negative sentiment. The Federal Reserve's delayed rate cuts and a $200 billion liquidity withdrawal due to government shutdowns have exacerbated funding costs [3][4] Future Outlook for Bitcoin Market - Hotcoin Research suggests that by 2026, the Bitcoin market will be more mature and rational, with institutional funds playing a larger role, leading to price movements driven more by fundamentals and data rather than short-term sentiment [4]

Core Viewpoint - The real estate market in first-tier cities is experiencing a significant downturn, while Hong Kong's property market is thriving, highlighting a stark contrast in investment opportunities and strategies [1][3][5]. Group 1: First-tier Cities Real Estate Market - As of September 2025, second-hand housing prices in Beijing, Shanghai, Guangzhou, and Shenzhen have seen substantial declines, with Beijing down 2.1% month-on-month and Guangzhou experiencing a year-on-year drop exceeding 10% [3]. - Shenzhen's property prices have plummeted by 41.8% from historical highs, indicating a loss of over 4 million yuan on properties that were once valued at 10 million yuan [3]. - The number of second-hand homes listed for sale continues to rise, with Beijing adding 18,448 new listings in September alone, bringing the total for the first nine months to nearly 160,000 [3]. - Rental yields in these cities are low, with the highest being only 1.89%, insufficient to cover a mortgage interest rate of 3.2% [3]. Group 2: Hong Kong Real Estate Market - As of October, the private residential price index in Hong Kong has risen for five consecutive months, with rental prices increasing for nine months, reaching a six-year high [5]. - In prime areas like Hong Kong Island, rental prices for small units under 40 square meters have surged to 527 HKD per square meter [5]. - The rental yield in Hong Kong has climbed to 3.5%, surpassing the mortgage rate of 3.375%, making "renting to pay mortgage" a viable strategy [5]. - Notably, over half of the luxury property transactions exceeding 50 million HKD in Hong Kong this year involved mainland buyers, indicating a shift in investment focus [5]. Group 3: Investment Strategies and Market Trends - The contrasting trends in real estate markets are prompting investors to reconsider their asset allocation strategies, moving away from the traditional approach of concentrating investments in domestic properties [5][8]. - Investors are increasingly diversifying their portfolios, with a suggested allocation of 40% in domestic ETFs and government bonds, 30% in overseas funds, 20% in bonds, and 10% in gold ETFs [7][8]. - The establishment of over 50 new FOF funds in 2025, with a total issuance of 42.1 billion yuan, reflects a shift in investor sentiment towards diversified investment strategies [8]. - Ordinary investors can now access overseas investments through domestic platforms with minimal entry requirements, facilitating a broader investment approach [8].