市场传言 “蚂蚁集团宣布已成功从中国平安人寿手中收购方正证券”。受此影响，方正证券股价尾盘异动涨停。据记者向有关方面求证，上述传言不实。此前，市场曾传言蚂蚁集团出手收购瑞信在中国投资银行业务。由于方正证券持有瑞信证券 49% 股权，因此市场很可能误解为蚂蚁集团收购方正证券。

传言 “蚂蚁集团收购方正证券” 求证：不实消息

MEITUAN(03690) rose 10.78%, with a trading turnover 9.7 Billion HKD, and a year-to-date rose 7.9%. CHINA UNICOM(00762) rose 6.99%, with a trading turnover 784.1 Million HKD, and a year-to-date rose 18.8%. BEIGENE(06160) fell 8.44%, with a trading turnover 252.5 Million HKD, and a year-to-date fell 11.9%. FAST RETAIL-DRS(06288) fell 3.72%, with a trading turnover 1.4 Million HKD, and a year-to-date rose 11.7%.

Top 5 HK Stock Gainers/Losers (>100B) (3.1)

首周末，香港特区政府财政预算案公布后，美联物业统计显示，15 个指标屋苑预约看楼量大幅增加，达到 479 组，比前一周增加了 77.4%。同时，放盘量增加了 34%，反价盘的数量较 2 月平均增加了 96%。这些数据显示，撤销楼市政策后，购买力一次过引爆，预计 3 月住宅物业交投兴旺，楼市将迎来 “大阳春”。

美联物业：“撤辣” 后周末预约看楼量增八成 反价盘倍增

港股收盘，恒指收涨 0.47%，科指收涨 1.66%。美团收涨 10.8%，成交额近 100 亿港元。

金十数据 3 月 1 日讯，当地时间周四晚间，特斯拉 CEO 埃隆·马斯克向旧金山高等法院，以违反合同为由起诉 OpenAI 及其 CEO 萨姆·奥特曼。马斯克在诉讼中表示，奥特曼和 OpenAI 违背了这家人工智能研究公司成立时达成的一项协议，即开发技术以造福人类而不是利润。马斯克声称 OpenAI 最近与科技巨头微软的关系损害了该公司最初致力于公共、开源的通用人工智能。

马斯克起诉 OpenAI 及其 CEO 奥特曼

戴尔 Q4 实现收入 223.2 亿美元，同比下降 11%，但高于预期 221.7 亿美元；得益于人工智能（AI）优化服务器的推动，戴尔的基础设施解决方案业务出现回暖。

AI 生猛，戴尔收入下滑股价却暴涨 19%

Japan's economy has been in a long-term slump, but the stock market reflects the performance of Japanese companies. The recent rise in the Japanese stock market is mainly driven by improvements in corporate governance. NVIDIA's earnings report has become the catalyst for the Japanese stock market to reach a historic high.

Approaching 40,000 points! Japan's PMI sees the largest contraction in 3 years, but Japanese stocks continue to hit new highs.

亚太主要股指涨声一片，日股、澳股、印度股市齐创历史新高，A 股也在 2 月 “扬眉吐气” 了一把。日经 225 指数收盘涨 1.9%，报 39910.82 点，续刷历史新高。澳大利亚 S&P/ASX200 指数涨幅 0.61%，再创历史新高。印度 SENSEX 指数涨幅 1.5%，有望创下纪录收盘高点。A 股上证指数涨 0.39%，深证成指涨 1.12%，创业板指涨 0.94%，各股涨多跌少。A 股在 2 月累涨 8.13%，领先全球主要股指。

亚太主要股指涨声一片，日股、澳股、印度股市齐创历史新高，A 股也在 2 月 “扬眉吐气” 了一把

2 月 29 日，在博世集团举办的 BCW（Bosch Connected World）活动上，特斯拉 CEO 埃隆·马斯克接受连线采访并谈论了他对未来 5 到 10 年内人工智能发展进程的看法。对于人工智能技术的发展，马斯克评价说，“人工智能技术进展迅速，实际上，我从未见过哪种技术能比其进步更快。

马斯克：AI 发展速度前所未见，希望人形机器人 “善待” 人类

摩根大通分析师表示，比特币的减半事件可能导致比特币价格下跌。目前，比特币的平均生产成本为每枚 26500 美元，减半后将机械翻番至 53000 美元。然而，由于挖矿难度的增加，小型矿工将被迫退出运营，挖矿难度可能降低生产成本。策略师预测比特币在 4 月后可能回落至 42000 美元。预计哈希率下降约 20% 后，比特币的生产成本将降至 4.2 万美元。若比特币价格持续上涨，哈希率下降预测可能不会实现。

小摩向比特币狂潮 “泼冷水”：减半狂热冷却后将回调

3 月 1 日，香港财经事务及库务局局长许正宇表示，恶劣天气下维持股票市场运作是市场共识，相关准备工作将会在今年年中之前敲定细节，待市场准备就绪便会落实。许正宇指出，台风下进行股票交易，涉及钱银交收，券商员工到不了公司要在家工作，而在家工作则需要考虑网络是否能连接到公司等因素。许正宇还表示，促进股票市场流动性专责小组提出多项建议，包括上市安排、规管安排、持续推广新资金等，未来将会 “成熟一项、推一项”。此前，在近日已公布的香港《财政预算案》中有提到，目标今年中落实恶劣天气下维持港股市场运作。

许正宇：将在年中前敲定恶劣天气下运作股市的细节

The given information falls under the category of macroeconomic related information. The summary of the information is that market rate expectations for the Federal Open Market Committee (FOMC) are now aligned with the bank's projection of three rate cuts in 2024. The focus now is on what happens next, as a move from three to two cuts will be more challenging. This alignment limits how much yields can rise, but it is not necessarily negative for the dollar. The volatility in the markets remains subdued as investors await more data to determine the direction of inflation.

BUZZ-View of the Week: Fed pricing matches Fed dots, now what?

印度 SENSEX 指数续创历史新高，报 73,453.96 点，日内上涨 1.32%。

印度 SENSEX 指数续创历史新高

港股元宇宙概念股活跃，泡泡玛特涨超 8%，瑞声科技涨 3.5%，哔哩哔哩涨超 3%，快手、小米集团、中手游均涨超 1%。

香港财经事务及库务局局长许正宇表示，恶劣天气下维持股票市场运作会在今年年中前敲定细节，待市场准备就绪就会落实。（香港电台网站）

Market News: Community group buying's reduced losses exceeded expectations, rumored to cut losses by 10 billion.

Understanding the market | Why did MEITUAN surge by 10%?

日经 225 指数涨幅扩大至 2％，逼近 4 万点关口并续创新高，现报 39951.40 点。

美团港股午后涨超 10%，续创 2023 年 3 月以来最大涨幅。

The statement from Dell Tech's Chief Operating Officer reveals a strong demand in the market for AMD's MI300X GPU.

Why did AMD surge by 9% overnight, with a market value exceeding 300 billion?

理想汽车 2 月交付量 20251 辆，同比增长 22%。

纽约联储主席威廉姆斯表示通胀仍需下行至 2% 水平，年内降息三次是 “一个合适的起点”。

美联储三号人物：没有必要进一步收紧政策，今年晚些时候会降息

美团一度上涨 8.4%，创 2023 年 3 月以来最大涨幅。

The entire iPhone 15 series is now discounted by 1,000 yuan, with the highest discount reaching 1,300 yuan.

Is Apple feeling pressured by Huawei? Apple's prices have taken a significant nosedive!

General Motors' autonomous driving car company Cruise has seen its internal stock price drop by more than half compared to a quarter ago, mainly due to the lingering impact of an accident in October last year. Additionally, Apple's cancellation of its electric car development plan has led to a downgrade in Cruise's valuation. The CEO of Cruise stated that the company still faces many challenges and there is a long way to go before achieving large-scale commercialization. General Motors also announced a reduction in Cruise's annual budget and is facing investigations from multiple U.S. government agencies.

Adding insult to injury! General Motors' autonomous driving department's valuation was halved following the shattering of "Apple's car-making dream."

灰度分析师指出，由于比特币 ETF 产品每天购买量远远超过比特币网络的产量，导致比特币供需失衡，推动价格上涨。此外，比特币减半计划将进一步减少每天的新货币供应量，可能引发更多供应问题。根据数据分析，当前市场上没有足够的比特币来满足所有的新需求。

灰度分析师：没有足够的比特币来满足所有的新需求，推动价格上涨

In the morning session, Hong Kong-listed LAEKNA-B surged over 40% as the company's new drug LAE102 for obesity has had its clinical trial application accepted.

Concept stocks related to weight loss have become "money printing machines", with LAEKNA-B's stock price rising by over 120% in three days.

台积电董事长刘德音将退休，总裁魏哲家接任董事长，米玉杰和秦永沛将共同辅佐魏哲家。米玉杰在台积电从 CMOS 时代开始，研发多项先进技术，被认为是台积电研发领域的重要人物。秦永沛负责先进制程和晶圆厂区管理。台积电董事会改选可望大换血，秦永沛有望入列本次董事改选名单。

台积电研发的灵魂人物，未来接班人浮出水面

Based on observations from the semiconductor industry and information from Bloomberg, Advanced Micro Devices Inc. saw a significant increase in stock price on Thursday, continuing its surge to set a new record among a series of records this year. The stock rose by 9.1%, pushing the company's market value above $300 billion for the first time. The stock has more than doubled since its low point in October. The company is considered one of the major beneficiaries of artificial intelligence, and last month, optimism about new AI processors helped AMD's stock recover from weak forecasts. Earlier on Thursday, Citigroup wrote that it remains "extremely bullish on semiconductors," especially with the "continuing growth of the AI market," as various businesses and organizations are purchasing AI chips. The company ranks AMD, Nvidia Corp., and Broadcom Inc. as some of its favored stocks. However, despite the recent surge, the stock does not appear cheap. Its price-to-earnings ratio is close to 50 times the expected P/E ratio, much higher than industry leader Nvidia's P/E ratio of 32 times, which is relatively moderate. AMD's data center chips hit a record, with GPU sales reaching $3.8 billion. AMD announced its financial performance for the fourth quarter of 2023 and the entire fiscal year. The company achieved strong results at the end of this year, with its data center GPU business growing due to increased demand from the AI boom.

Bloomberg: AMD's market value soared, surpassing $300 billion.

《安徽省新能源汽车产业集群发展条例》自 2024 年 3 月 1 日起正式施行。该《条例》是中国首部省级层面的新能源汽车产业专项法规。《条例》共设 7 章 43 条，从安徽省新能源汽车产业发展实际需要出发，进行探索创新，包括总则、创新引领、产业链提升、场景拓展、开放合作等。

中国首部省级层面新能源汽车产业专项法规施行

金十数据 3 月 1 日讯，美联储威廉姆斯表示，他认为官员们没有必要进一步收紧政策，并重申他预计央行将在今年晚些时候降息。威廉姆斯承认，通货膨胀率已经从几十年来的高点回落，但他强调，官员们希望看到通货膨胀率回到 2%，并持续保持在这个水平。他预计美联储将在今年晚些时候降息，他们将把利率调回到更正常的水平。这些言论与他最近的言论相呼应，而包括美联储主席鲍威尔在内的多位美联储官员最近几周明确表示，鉴于经济和劳动力市场的潜在弹性，以及通胀前景面临的持续风险，他们认为没有必要仓促降息。

美联储威廉姆斯重申：今年晚些时候可能会进行降息

中共中央政治局 2 月 29 日下午就新能源技术与我国的能源安全进行第十二次集体学习。

2 月份，中国官方制造业采购经理指数 (PMI) 为 49.1，比上月下降 0.1 个百分点。大型企业 PMI 为 50.4，与上月持平；中型企业 PMI 为 49.1，上升 0.2 个百分点；小型企业 PMI 为 46.4，下降 0.8 个百分点。生产指数为 49.8，下降 1.5 个百分点；新订单指数为 49，持平；原材料库存指数为 47.4，下降 0.2 个百分点；从业人员指数为 47.5，下降 0.1 个百分点；供应商配送时间指数为 48.8，下降 2.0 个百分点。非制造业商务活动指数为 51.4，上升 0.7 个百分点。建筑业商务活动指数为 53.5，下降 0.4 个百分点；服务业商务活动指数为 51，上升 0.9 个百分点。新订单指数为 46.8，下降 0.8 个百分点；投入品价格指数为 50.6，上升 1 个百分点；销售价格指数为 48.5，下降 0.4 个百分点；从业人员指数为 47，持平；业务活动预期指数为 57.7，下降 2 个百分点。综合 PMI 产出指数为 50.9，与上月持平。

中国 2 月官方制造业 PMI 49.1 市场预期 49

港股开盘，恒指开跌 0.7%，科指开跌 1.02%。科网股走低，网易跌 3.8%。

网易发布 2023 年第四季度及全年财报，总营收突破千亿元大关，同比增长 6.7%。尽管低于预期，网易 CEO 丁磊表示，近一年来 AI 技术突飞猛进，将极大提高内容质量。网易非常重视 AI 在游戏、音乐等场景的应用。

网易丁磊：今天 AI 能做到的比过去十年还要重大

Multiple Federal Reserve officials have spoken on interest rate cuts. The S&P and Nasdaq rebounded to historic highs, rising for four consecutive months. NVIDIA hit a new high, stocks related to virtual currency surged, and Chinese concept stocks rose by over 10% in February. Bridgewater's Dalio stated that the U.S. stock market bubble "doesn't seem that big." Microsoft launched Copilot Financial Edition. Intel is reviving the Altera brand, leveraging AI to impact IPOs. JD Cloud: "Lower prices at will, compete to the end!" Dingdong Maicai achieved annual Non-GAAP profitability for the first time. Creditors took the opportunity to sell Xu Jiayin's top luxury mansion, valued at approximately HKD 500 million.

Breakfast | US stocks are back in a strong profitable trend, JD Cloud is directly competing with Alibaba Cloud.

比特币投资者 Michael Novogratz 表示，比特币可能会出现回调，随后反弹至创纪录水平，并在年底大幅上涨。目前市场上出现明显的 “错失恐惧” 情绪，越来越多的人想要购买比特币。Novogratz 认为市场杠杆过高，可能会导致洗牌，人们无法承受高杠杆。此外，他预计以太坊 ETF 将在今年获得 SEC 的批准。

知名加密货币投资者 Michael Novogratz：比特币或出现回调 随后反弹至创纪录水平

京东云宣布开启比价活动，对标产品最低成交价再优惠 10%，并承诺 “买贵就赔”。阿里云也宣布降价，涉及多款产品。此次活动引发了云计算厂商之间的价格战。根据数据显示，中国公有云服务市场规模不断增长。此次比价活动属于商业相关信息，是一项商业事件。

云上战争，京东硬刚阿里

近日，证券时报·e 公司记者了解到，春节后医疗减肥市场火爆，一些医院的减肥患者数量增长超过 50%。同时，减肥针剂销售和咨询量也显著增加。此消息引发资本市场相关概念股快速上涨。然而，一些行业人士指出，普通人缺乏专业团队支持很难复制明星减重路径，而且减重方式都存在一定副作用和风险，建议患者在专业指导下合理减重。

实探节后医疗减肥市场 部分医院接诊量增长超五成

S&P and Nasdaq rebound to historic highs, with the three major US stock indices rising for four consecutive months. S&P and Dow post their largest year-to-date gains in the first two months of 2019. Chip stocks rose by 2.7%, with Nvidia surging nearly 2%, both hitting record highs. Nvidia saw over 20% gains in both January and February. AI concept stocks rebounded strongly, with C3.ai rising over 20% after its earnings report. The German stock index hit a record high for seven consecutive days, rising for four months in a row. Chinese concept stocks retreated for two days, but accumulated over 10% gains in February. NetEase fell by nearly 4% after its earnings report, Baidu dropped by almost 2%, both seeing losses for two consecutive days. XPeng Motors rose by 8%, while Nio surged by nearly 6%. Following the PCE release, US bond yields flattened and then declined, with the two-year yield hitting a one-week low, but still rising by over 40 basis points in February. The US dollar index hit a daily low, then rebounded, approaching a one-week high, rising for two consecutive months. Offshore RMB rose by over a hundred points during the day, recovering to 7.21, moving away from a low of over a week. Bitcoin fell by over $3000 and dropped below $61,000, bidding farewell to its two-year high, with over a 40% gain in February. US oil fell for two consecutive days, while Brent crude futures temporarily bid farewell to a three-month high, both rising for two months in a row; US natural gas fell by over 10% in February. Following the PCE release, gold prices surged, with gold futures hitting a four-week high, but falling for two consecutive months. London copper rebounded, but still fell by over 1% in February; London nickel rose for three consecutive days to a three-month high, with a 10% surge in February. Updates in progress.

Heavyweight PCE growth did not exceed expectations, US bonds surged, US stocks rebounded, SPDR S&P 500 achieved its best start in five years, and Bitcoin saw its largest monthly increase in over three years.

Bitcoin continues to rise, with record inflows of ETF funds. The price of Bitcoin once exceeded $63,000, surpassing analysts' expectations. At the same time, the newly launched Bitcoin Exchange Traded Fund (ETF) has attracted record inflows of funds. BlackRock's physical Bitcoin ETF is the top choice for investors, attracting over $6.12 billion in funds, with total assets under management exceeding $9 billion. In addition, nine new Bitcoin ETFs have collectively attracted $8 billion in new demand. The price of Bitcoin is currently stable above $61,000.

Bitcoin continues to rise, with record inflows of ETF funds.

尽管近来数据显示美国通胀上升，美联储高官们也承认这一点，但他们普遍并未改变自己此前的观点，即今年降息两到三次，也同时表示降息并非迫在眉睫。旧金山联储主席称，她对住房通胀正在下降越来越有信心。亚特兰大联储主席仍预计夏季开始降息合适。芝加哥联储主席称不要过度解读单月数据。

美联储多高官讲话，不急于降息，也无惧 1 月通胀数据

The emerging US startup Synth Labs has recently secured funding from M12, a venture capital fund under Microsoft, and a deep tech venture capital fund in the seed round led by former Google CEO Eric Schmidt. The goal is to ensure that AI systems operate according to human intent and mitigate the risk of AI getting out of control. AI alignment has become a hot topic in the field of AI.

What are tech giants focusing on? Aligning values with artificial intelligence! Microsoft has entered the game.

Microsoft has stated that by using Copilot for Finance, finance professionals can reduce the time spent on reconciliation to 10 to 20 minutes per week. This product is powered by Open AI, currently only available in a preview version, and pricing has not been disclosed yet.

Financial gospel? Microsoft releases Copilot for finance, accelerating reconciliation and data analysis.

美银美林和富国银行向客户提供比特币 ETF。

加密货币投资公司 Galaxy Digital 创始人 Novogratz：明年比特币价格将较现在大幅上涨。

ZEEKR leaves no room for XIAOMI-W to survive.

Who says innovative drugs can't make money when going global?

2024 Earnings Report | Domestic performance lags behind international, Takeda's down payment supports HUTCHMED in turning losses around.

HSBC predicts that Temu is expected to gain a market share of 3-6% in developed markets in the United States, Europe, and Asia. By 2025, Temu may achieve profitability, with its contribution to PDD's revenue expected to exceed 50% by then.

HSBC: Pinduoduo may achieve profitability by 2025, with overseas revenue accounting for over half. | The Four Little Dragons Going Global series.

The future trillion-dollar club in the US stock market may no longer be limited to just the "Big Seven."

Who will be the next "trillion-dollar company": Berkshire Hathaway, Eli Lilly, or Taiwan Semiconductor?

2021 年之前，货币政策主要通过降准、降息等手段进行逆周期调节，推动商业银行扩表宽信用。而 2021 年之后，货币政策更注重总量目标与结构目标的平衡，跨周期调节的操作增多。这一变化源于中国式现代化和现代化产业体系的新发展框架，以及宏观金融环境和政策空间特征的演变。在新的政策框架下，央行对结构性工具的偏好升高，增长与通胀变化触发总量宽松操作的阈值有所上升。在新的政策环境下，投资者对短久期与高确定性资产的偏好会上升，盈利对于权益市场的影响会被利率放大。