油輪追蹤機構TankerTrackers整理中東各國當前原油出口量與戰前水平（2026年1月至2月平均值）相比的變化： 1. 伊朗：下降100%（已持續三個多月） 2. 伊拉克：下降13% 3. 科威特：中東原油出口格局分化：伊朗出口驟降100%，沙特和阿聯酋實現增長下降39% 4. 阿曼：下降2% 5. 卡塔爾：下降47% 6. 沙特阿拉伯：增長10%（西海岸增長296%，東海岸下降27%） 7. 阿聯酋：增長6%

Guan Tao, chief economist at Huafu Securities, said recent domestic market weakness reflects sentiment volatility after rising geopolitical tensions and widening divergence in overseas tech stocks, but key market drivers remain intact. He listed four market-positive points: China’s long-term favorable economic fundamentals are unchanged; the certainty of stronger, more effective policy support remains; innovation momentum is gradually releasing; and valuation advantages in Chinese assets remain to be exploited. Under dual forces of market demand and policy guidance, China’s growth is shifting toward higher quality and structural upgrade. Investors should treat recent volatility rationally, focus on earnings-recovery stories, and remain cautiously optimistic on medium-to-long-term market prospects. Guan added that deepening capital-market financing and investment reform is two-way: authorities must strengthen institutional support for long-term capital and investors must adopt long-term, value-driven, rational investment habits. The current episode is a litmus test for the market’s ability to move away from momentum trading toward greater maturity.

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