The A-share precious metals sector strengthened, with *ST Zhongrun and Xiaocheng Technology rising by more than 2%, and Shanjin International, Shandong Gold and Chifeng Gold rising by nearly 2%.

Russian Deputy Prime Minister Novak: Russian refineries are operating normally and the Russian market is well supplied with petroleum products. It is expected that by 2025, Russia's oil production will be between 515 million and 520 million tons. Russia's oil processing volume in 2025 will be higher than in 2024.

Foreign 1. Morgan Stanley: Now is the best time to advise global investors to increase their allocation to Chinese stocks. 2. Goldman Sachs: European institutions are increasingly optimistic and plan to increase their holdings of Chinese consumer stocks, and have gradually built positions in January. 3. Citi: Oil prices below $60 will weaken US shale oil production. 4. Goldman Sachs: Lowered forecasts for oil prices and crude oil demand growth. 5. Goldman Sachs: European markets can accelerate growth by easing restrictions. 6. Barclays: The Bank of England is expected to keep interest rates unchanged at its March meeting and may cut interest rates in May. 7. Deutsche Bank: The Bank of England may cut interest rates to 3.5% by the end of the year. 8. Deutsche Bank: Inflation data limits the Fed's ability to take action to support the economy. Domestic 1. Minsheng Macro: US stagflation may be the benchmark, and gold is the "version answer". 2. CITIC Construction Investment: The price trend of gold in 2025 may change from a favorable period to a volatile period. 3. CITIC Securities: The scheduled interest rate is lowered, and the insurance funds are accelerated to enter the market. 4. CITIC Construction Investment: For the first time in nearly 20 years, A-shares have emerged from an independent market during the sharp drop in US stocks, demonstrating the characteristics of "confidence revaluation bull". 5. Guosheng Macro: From the perspective of social financing in February, the prospects of interest rate cuts and reserve requirement ratio cuts are greater than the probability of a short-term reserve requirement ratio cut. 6. Industrial Securities: "China is strong and the United States is weak" is mostly in the period of downward earnings of US stocks, and A-shares at that time have certain performance comparative advantages. 7. Galaxy Securities: It is still in a rebound market driven by multiple factors. 8. CITIC Securities: Urban renewal is accelerating, and housing inspection & insurance are setting sail. 9. Huatai Securities: The special plan to promote consumption has been implemented, and we are optimistic about the opportunity of consumption revaluation.