2026年1月30日，证监会召开了一场关乎资本市场未来五年发展方向的座谈会。 证监会主席吴清亲自出席并明确表示要"全力巩固资本市场稳中向好势头"， 这相当于给市场的"慢牛"格局提供了官方背书。 座谈会还特别强调了创业板和科创板改革的重要性，明确指出"科技牛"将是未来发展的核心方向。 两融方面，尽管受监管层提高融资保证金比例影响，前半周出现一定融资资金撤出，但后半周融资资金再度增加。 全周总体小幅净卖出68.9亿元，融资余额 仍维持在2.7万亿元以上的高位。 就在同一天，国际贵金属市场出现了戏剧性下跌。 现货黄金价格一度暴跌近8%，从前期高点5600元快速回落至5000元下方。 现货白银跌幅更为惨烈，重挫 17%。 这种剧烈波动直接影响了A股有色板块的表现。 1月份A股市场交出了一份令人瞩目的成绩单。 上证指数走出了罕见的17连阳，刷新了A股历史纪录。 1月全市场总成交额突破60万亿元，创下月度成交的历 史新高。 然而，市场内部却呈现出明显的分化格局。 截至1月底，科创50指数上涨12.29%，中证500指数上涨12.12%，而代表权重股的沪深300指数仅上涨1.65%，上 证50指数涨幅更是只有1.17%。 ...

1月12日，A股市场震荡拉升，三大指数均涨超1%。沪深两市成交额3.6万亿创历史新高，连续第2个交 易日突破3万亿。板块方面，AI应用再度大爆发，Sora概念股集体狂欢，流金科技30cm涨停，福石股 份、拓尔思、易点天下、值得买、万兴科技等多股20cm涨停。 消息面上，据报道，DeepSeek计划在未来几周内发布新一代AI模型V4，预计发布时间在2月中旬（春 节）前后，但具体时间仍可能调整。报道称，根据DeepSeek内部基准测试结果，V4在编程任务上的表 现超越了目前市场上的主流模型。 平安证券认为，全球AI算力基础设施能力的持续提高，与全球大模型的持续迭代升级共振，将推动全 球AI产业持续蓬勃发展。当前，智谱、MINIMAX等我国大模型算法公司陆续登录资本市场，我国大模 型商业化的进程有望进一步加快。坚定看好我国AI产业的发展前景，建议持续关注AI主题的投资机 会，关注AI算力、AI算法和应用两个方向的投资机会。 （文章来源：21世纪经济报道） ...

Market Overview - The S&P 500 rose by 0.6%, reaching a new high, while the Nasdaq 100 increased by 1% [1] - Non-farm payroll data showed mixed results, reinforcing expectations that the Federal Reserve will maintain interest rates in January [1] - Intel's stock surged over 10% following a meeting between its CEO and Trump, while Oracle's shares rose nearly 5% [1] Currency and Commodities - The US dollar experienced a four-day increase, reaching a one-month high, with the USD/JPY pair surpassing 158 [2] - Bitcoin fell below $90,000 after a strong start to the week, while gold prices rose by 0.7%, surpassing $4,500 [3] - WTI crude oil saw fluctuations, initially rising by 2.3% before settling at a 0.6% increase [3] Chinese Market Developments - The A-share market saw a record trading volume exceeding 30 trillion, with the Shanghai Composite Index gaining 0.92% [4] - China's December CPI rose by 0.8% year-on-year, marking a 34-month high, driven by increased food prices [18] - The State Council's antitrust committee announced an investigation into the food delivery service industry's competitive practices [5] Company-Specific News - TSMC reported a 20% year-on-year increase in December revenue, driven by strong AI demand [28] - Minimax's stock surged 109% on its first day of trading in Hong Kong, raising approximately HKD 5.54 billion [25] - Intel's stock price increased by over 10% after a meeting between its CEO and Trump, with the government's investment in Intel doubling in value [34] Global Economic Indicators - The US non-farm payrolls increased by only 50,000 in December, below expectations, with the unemployment rate dropping to 4.4% [20] - The US consumer confidence index for January reached a four-month high, indicating stable inflation expectations [21] Strategic Moves - The US government is shifting its strategy regarding Venezuela, moving from military pressure to political engagement [23] - The potential merger talks between Rio Tinto and Glencore aim to create the world's largest mining company, driven by high copper prices [34]