春节假期将至，A股也将迎来长达10天的休市期。到底是清仓持币，落袋为安过节？还是持股期待节后行情呢？这是一个问题。 昨晚，海外突然全线暴跌，今天是A股的最后一个交易日，市场连日来震荡调整，持股还是持币过节，今天（2月13日）就是作出决定的最后一天。从近日 券商、公募、私募等机构的调查和建议来看，"持股过节"似乎成为主流选择。 不过，机构提醒这一建议是基于过往大数据的梳理，持股还是持币的决定性因素在于投资者的持仓结构。需要注意的是，虽然港股只在2月17日至19日休市3 天，但春节期间港股通渠道是关闭的。如果投资者是通过港股通购买的港股，那么其将和A股一起"放假"。 其实，不必纠结，我们可以结合历史的规律、当前的市场环境及自己的风险偏好，来做出最适合自己的投资决策。 马年春节到，慧博调研贴心准备了一份春节假期全球投资交易日历，并附上了假期期间全球财经大事，一起来码住这份全球投指南！ 提醒一下大家，算上周末，A股春节前最后一个交易日是2月13日，其后直到2月23日，A股与港股通均进入长假模式，春节后第一个交易日是2月24日星期 二。 港股市场2月16日除夕当天上午交易，下午休市。2月17日到2月19日，即新年初一到 ...

Market Performance - The Hang Seng Index closed down 1.72% at 26,567.12 points, while the Hang Seng Tech Index fell 0.9% to 5,360.42 points, and the China Enterprises Index decreased by 1.55% to 9,032.71 points [1] - Southbound funds recorded a net inflow exceeding 20 billion HKD, with the Hong Kong Stock Connect (Shanghai) contributing over 11.476 billion HKD and the Hong Kong Stock Connect (Shenzhen) adding over 8.743 billion HKD [1] Stock Movements - Notable gainers included Haizhi Technology Group, which surged 242.2%, followed by Zhipu with a 20.65% increase, and Junyu Foundation rising 18.63% [1] - Major decliners included Mongol Mining, which dropped 17.66%, and Woan Robotics, down 13.69% [1] Large Tech Stocks - Alibaba-W decreased by 2.02%, Tencent Holdings fell 0.65%, and JD.com-SW dropped 1.85% [1] - Xiaomi Group-W saw a slight increase of 0.88%, while Meituan-W fell by 3.18% [1] Industry Insights - Industrial insights from Xinyi Securities suggest that the non-ferrous metals sector is entering a phase of commodity price fluctuations, with expectations of a rebound in mid-year due to macroeconomic support [2] - Dongwu Securities indicates that market demand remains strong, with anticipated improvements in liability costs for insurance companies due to lower interest rates and a shift towards dividend insurance [3] - China Galaxy Securities forecasts a volatile upward trend for the Hong Kong market post-Spring Festival, highlighting attractive valuations and potential growth in consumer and technology sectors [4]

最新发布的2025年券商基金托管数据，揭示了一场无声却激烈的市场份额争夺战。 在公募领域，传统霸主银行虽仍占据绝对主导，但券商正以迅猛姿态从其传统领地中"虎口夺食"，在私募托管领域，头部 券商正试图构筑更高的行业壁垒。 "虎口夺食"争公募 据Wind数据，截至2025年末，全市场公募基金托管总规模攀升至37.68万亿元。银行机构以84%的市场份额把控着大局，但 券商阵营15%的占有率背后，是近年来持续且强劲的扩张势头。 券商与银行在产品战场上的分野日益清晰。券商依托其强大的研究能力和资本市场纽带，在权益类基金，尤其是ETF等工 具化产品上建立了显著优势。相反，银行则凭借庞大的客户网络与稳健的渠道，在货币基金、债券型基金及传统主动管理 型产品上坚守阵地。这种错位竞争格局正在重塑托管市场的生态。 | | | 2025券商公募基金托管TOP10 | | | | --- | --- | --- | --- | --- | | 128 83 | 新書館 | | 北京国际 | | | 因 。 酒 通 正 等 | 140 | 13.51% | 3316.72 | 23.70% | | 中信建投证券 | 122 | 11.7 ...

2026年2月9日，CPO概念涨幅居前。截至午间收盘，创业板50ETF景顺(159682)上涨3.25%。成分股天孚 通信20cm涨停，长芯博创上涨11.72%，新易盛上涨9.20%，协创数据，阳光电源等个股跟涨。 展望后市，中国银河证券表示，看好光通信板块，也看好光模块上游光芯片/光器件产业链；CPO的高 速发展也将呈现较大供应链机遇，看好目前布局相关技术的相关公司。 创业板50ETF景顺(159682)，场外投资者可通过场外联接(A：017949；C：017950)把握机会。 创业板50ETF景顺(159682)所跟踪的创业板50指数，从创业板中精选50只成交活跃的龙头标的，汇聚新 能源、生物医药、电子等众多新兴成长行业龙头，成分股龙头属性强、行业分布集中、科技含量十足。 消息面方面，2月6日，工信部发布《关于开展国家算力互联互通节点建设工作的通知》，面向国家枢纽 节点、重大战略区域、重点行业建设算力互联互通节点，构建国家算力互联互通节点体系。 ...

Market Overview - Global major asset performance showed mixed results, with the Mexican MXX index leading with a gain of 4.75%, while the Hang Seng Tech index fell by 6.51% [2] - A-shares experienced a decline, with the Shenzhen Component Index down 2.11% and the STAR 50 Index down 5.76% [4] - The U.S. labor market data indicated weakness, with rising layoffs and unemployment claims, increasing recession expectations [3] Industry Performance - The food and beverage sector led with a weekly gain of 4.3%, followed by beauty care at 3.7% and electric equipment at 2.2% [5] - The communication sector faced a significant decline of 6.9%, while the non-ferrous metals sector dropped by 8.5% [5] - Overall, 31 major industries showed similar performance, with notable gains in food and beverage, beauty care, and electric equipment [5] Policy and Economic Insights - Recent policies, including the Central Document No. 1 and new regulations for the Beijing-Tianjin-Hebei coordinated development, are expected to shift market focus towards policy beneficiaries and undervalued defensive stocks [6] - The Chinese economy is transitioning from focusing on output growth to ensuring that growth translates into stable income and welfare for residents, with an increasing emphasis on Gross National Income (GNI) [7] - The GNI is currently lower than GDP due to structural issues in the initial income account, primarily driven by strong outflows from foreign enterprises [8] Corporate and Investment Trends - Chinese companies are increasingly improving the scale and quality of overseas investments, which is essential for GNI formation [9] - The government is actively promoting effective investment policies and planning major projects to stimulate economic growth [10][11] - The recent increase in gold reserves by the central bank indicates a strategic move to bolster financial stability amid market fluctuations [13]

// 市场要闻 // 1、美国非农与CPI罕见"背靠背"发布，3月降息预期迎终极考验 受联邦政府停摆影响，原定上周发布的1月非农就业数据推迟至北京时间2月11日（周三）晚间发布，而1月CPI数据将于2月13日（周五）公布。这意味着 在本周内，市场将密集消化就业与通胀两大核心指标。若非农数据因统计滞后出现"噪音"，叠加CPI核心通胀粘性未减，美联储3月降息路径可能面临重 估，全球资产定价或在节前最后一周经历剧烈震荡。 2、中国1月通胀数据定于周三公布 国家统计局将于2月11日（周三）发布1月CPI与PPI数据。由于2026年春节在2月中旬，1月份处于完整的节前备货期，市场预期CPI同比涨幅将受食品及服 务价格拉动回升至1.2%左右。若PPI降幅持续收窄，将进一步确认工业企业盈利修复的拐点，为节后A股行情的展开提供基本面支撑。 3、1月信贷"开门红"成色几何？ 2月9日-15日期间，央行将发布1月金融数据。机构普遍预计，在"早投放、早受益"的政策导向下，1月新增人民币贷款有望保持高位，企业中长期贷款占 比将是核心看点。强劲的社融数据往往是春季行情的有力催化剂，若数据超预期，将显著提振节后市场信心。 4、欧元区经济 ...

Market Overview - The A-share market experienced adjustments today, with the three major indices declining: the Shanghai Composite Index fell by 0.25%, the Shenzhen Component Index decreased by 0.33%, and the ChiNext Index dropped by 0.73% [2] Oil and Gas Sector - The oil and gas stocks rebounded, with Intercontinental Oil and Zhun Oil shares hitting the daily limit. Intercontinental Oil opened at a limit down but surged to a limit up, closing at 5.5 CNY per share, with a market capitalization of 22.82 billion CNY and a trading volume exceeding 4.4 billion CNY. The stock has risen by 76.28% year-to-date [4] - According to the "2025 Domestic and International Oil and Gas Industry Development Report," the domestic oil and gas industry is expected to achieve a production of 420 million tons of oil equivalent by 2025, marking a historical high, with oil consumption projected to grow by 1.1% compared to the previous year [5] Chemical Sector - The chemical sector showed collective strength, with stocks like Cangzhou Dahua and Jinniu Chemical hitting the daily limit. The solid-state battery concept also saw gains, with stocks such as Huangting International and Dingsheng New Materials reaching their daily limits [6][8] Solid-State Battery Development - Analysts believe that solid-state batteries have entered the medium-scale testing and process optimization phase, with non-automotive applications already in small-scale use. The automotive sector is expected to see practical applications by around 2027. Companies like Geely Holding Group and EVE Energy are advancing their solid-state battery production plans, aiming for breakthroughs and commercial viability by 2026 [11][12] - Dongfeng Motor announced the establishment of a 0.2 GWh solid-state battery pilot line, with plans for mass production of a 350 Wh/kg solid-state battery by September 2026 [11] CPO Concept - The CPO (Co-Packaged Optics) concept continued to rise, with stocks like Zhili Fang hitting the daily limit and reaching a historical high. The CPO sector is expected to present significant supply chain opportunities, with companies in the optical communication sector being favored by analysts [14][16]

现货黄金一度向下跌破4700美元，日内下跌近2%。 截止发稿，现货白银、现货黄金的跌幅均有所收窄。 近期，现货白银跌势持续超过黄金，金银比回升至70关口，为两个月以来新高。 贵金属市场历史性抛售重演。 继前一交易日暴跌近20%后，现货白银今日继续暴跌。 今早，现货白银一度失守67美元/盎司，日内跌幅近8%，较1月29日创下的历史高点回落逾40%。 目前，白银年内涨幅已被完全抹平，市场陷入自1980年以来未见的剧烈动荡。 华侨银行策略师表示，括地区股市和金属在内，多数资产类别的市场情绪均显低迷，在市场流动性不足的背景下，形成了负向反馈循环。 崩盘背后 由于中东等地缘局势有所降温，美国经济数据展现韧性削弱了避险需求。 一方面，美伊核问题谈判在即，白宫表示外交手段仍是首选。 当地时间2月5日，美国白宫新闻秘书莱维特回应有关原定于土耳其举行、后改至阿曼的美伊核问题会谈安排时表示，特朗普始终将外交作为处理国际事务 的"首要选项"。 莱维特称，特朗普对伊朗的核心立场非常明确——伊朗必须实现"零核能力"。 同时警告表示，在外交努力推进的同时，伊朗方面不应忽视特朗普作为美国三军统帅所掌握的"多种选项"。 另外，美联储降息预期 ...

Market Overview - Major indices opened lower with the Shanghai Composite Index down 0.08%, Shenzhen Component Index down 0.39%, and ChiNext Index down 0.80% [1] - The storage, gaming, and fiberglass sectors experienced significant declines [1] Index Performance - Shanghai Composite Index: 4064.68, down 0.08%, with 692 gainers and 1277 losers [2] - Shenzhen Component Index: 14072.41, down 0.39%, with 840 gainers and 1695 losers [2] - ChiNext Index: 3298.32, down 0.80%, with 346 gainers and 911 losers [2] - Northbound 50 Index: 1537.85, down 0.75%, with 118 gainers and 129 losers [2] External Market Impact - U.S. markets saw declines with the S&P 500 down 0.84%, Nasdaq down 1.43%, and Dow Jones down 0.34% [3] - Chinese concept stocks mostly weakened, with Alibaba down 2.81%, JD.com down 1.72%, and Baidu down 2.5% [3] Industry Insights - CITIC Securities forecasts a continued price increase in the electronic components industry, driven by rising demand and upstream metal prices [5] - China Galaxy Securities highlights the potential for value reassessment in adjustable power sources due to improvements in capacity pricing mechanisms [6] - Huatai Securities notes that the adjustment of VAT for the three major telecom operators may have a lower impact on profits than initially calculated, as operators are transitioning to technology-driven services [8] Battery Technology - CITIC Jiantou expresses optimism about the solid-state battery sector, anticipating significant developments in 2026 as multiple manufacturers prepare for small-scale production and testing [4]

Group 1 - The A500 Index (000510) increased by 0.65% as of February 3, 2026, with notable gains from stocks such as Robotech (up 17.37%), Jing Sheng (up 17.17%), and Maiwei (up 11.77%) [1] - The A500 ETF Fund (512050) rose by 1.00%, with a latest price of 1.22 yuan, and showed active trading with a turnover rate of 27.7% and a transaction volume of 10.922 billion yuan [1] - Over the past three months, the A500 ETF Fund's scale increased by 202.30 billion yuan, indicating significant growth [1] Group 2 - As of January 31, 2026, 2,956 A-share listed companies had disclosed their 2025 annual performance forecasts, with a disclosure rate of 54% and 1,092 companies expecting positive results, resulting in a positive forecast rate of 37% [1] - China Galaxy Securities highlighted structural clues from the performance forecasts, noting a high positive forecast rate in the technology manufacturing sector, benefiting from price increases and product structure improvements in certain cyclical industries [1] - The A500 Index consists of 500 securities selected from various industries based on market capitalization and liquidity, reflecting the overall performance of representative listed companies [2]