International
1. Reuters survey: Geopolitical risks and central bank buying support gold prices potentially reaching new highs in 2026.
2. FOREX: Strengthening dollar rebound momentum is suppressing gold and silver prices; downward pressure may continue.
3. UBS: Global stock markets are expected to rise by about 10% by the end of the year; diversification into China, Japan, and Europe is recommended.
4. Mitsubishi UFJ: Election expectations caused the yen to fall to a near two-week low; selling may continue.
5. Nikko Securities: Intervention expectations are unlikely to stem the weakening trend; the yen still faces downward pressure.
6. Goldman Sachs: With the Japanese election approaching, fiscal risks remain significantly skewed to the upside.
7. Societe Generale: The euro may weaken against the dollar in the second half of the year.
8. Westpac: The Reserve Bank of Australia may be forced to raise interest rates for the second consecutive time in March.
Domestic
1. CITIC Securities: The current US financial market environment does not support balance sheet reduction.
2. CICC: Large-scale models will achieve more breakthroughs in reinforcement learning, model memory, and context engineering in 2026.
3. Zhongtai Securities: Strategically bullish on the API (Active Pharmaceutical Ingredient) sector.
4. CITIC Securities: Recommends focusing on OEMs with strong cost pass-through capabilities, superior product structures, and leading global footprints.
5. Galaxy Securities: The benefits of AI are mainly reflected in two paths that are easier to validate with data.
6. CICC: With the Japanese House of Representatives election approaching, political uncertainty is high.
