After the RMB breaks 7

The exchange rate of the Renminbi against the US dollar has surpassed the 7.00 mark, indicating potential for appreciation. Fundamentally, the Renminbi exchange rate is competitive, and its price advantage is increasing. The peak in foreign exchange settlement and the easing of China-US economic and trade relations are favorable factors. The appreciation of the Renminbi may increase foreign investment interest in Renminbi-denominated assets, creating a positive cycle of capital inflow. It is expected that by the end of 2026, the exchange rate of the US dollar against the Renminbi will be 6.82, with China's nominal GDP growth in US dollar terms projected at 8.5-9%

Wallstreetcn·
Wallstreetcn·

The confidence behind silver's "continuous new highs": The run on London spot silver is intensifying

The London silver market is experiencing a severe physical squeeze, with investors aggressively selling paper silver contracts and rushing to buy spot silver, causing the key indicator "one-year silver swap spread" to drop to -7.18%, indicating extreme tightness in the spot market. Experts say this "distortion" is the core driving force behind the rise in silver prices, and under pressure from leverage and intensified arbitrage, the upward trend in silver prices may continue

Wallstreetcn·
US
SLV
+0.59%
US
AGQ
+1.02%
Wallstreetcn·
US
SLV
+0.59%
US
AGQ
+1.02%

Has the RMB appreciated significantly?

Guolian Minsheng's Tao Chuan believes that the recent appreciation of the RMB is a reasonable release of previous pressure against the backdrop of a weakening US dollar and improving trade expectations. Although there is a risk of overshooting in the short term due to concentrated foreign exchange settlement, a comprehensive analysis of multiple dimensions such as finance, trade, and inflation indicates that the current exchange rate fluctuations are overall within a reasonable range, and the medium to long-term trend still needs to be observed for support from economic fundamentals

Wallstreetcn·
SH
601456
+0.10%
HK
01456
+0.38%
Wallstreetcn·
SH
601456
+0.10%
HK
01456
+0.38%

From photovoltaics, nuclear power to coal, "taking off across the board," how long can the "AI power supply" theme in the US stock market last?

The U.S. stock power sector has risen sharply due to the AI power supply gap, covering clean energy, nuclear power, coal, and more. Renewable energy ETFs have increased by 50%-60%, while the stock prices of nuclear power and natural gas equipment manufacturers have doubled, and fuel cell companies' stock prices have surged threefold. Analysts expect that next year investors will focus on corporate execution capabilities, with current valuations reaching historical highs

Wallstreetcn·
SZ
000591
+0.67%
US
CEG
+0.73%
HK
20076
+0.19%
Wallstreetcn·
SZ
000591
+0.67%
US
CEG
+0.73%
HK
20076
+0.19%

On the first day after Christmas, gold and silver hit new highs, and the author of "Currency Wars" stated, "Next year, gold prices will reach $10,000, and silver prices will reach $200!"

Spot silver reached a maximum of $73.4393 during Thursday's trading session, setting a new historical record, marking the fifth consecutive day of gains. Spot gold also performed strongly, nearing the historical high of $4,525 set on Thursday. Renowned economist and bestselling author Jim Rickards stated in a recent interview, "The factors driving the entire metal market upward will continue to exert force next year, and I would not be surprised to see gold prices reach $10,000 and silver prices rise to $200."

Wallstreetcn·
HK
07299
-0.14%
US
GLD
-0.41%
Wallstreetcn·
HK
07299
-0.14%
US
GLD
-0.41%

K-shaped economy! The performance of large and small businesses in the United States varies significantly

The U.S. economy is experiencing significant structural differentiation, with large companies reaching record highs in stock prices due to the AI boom and profit growth, while small businesses are struggling amid economic headwinds. ADP data shows that small businesses continued to lay off workers, cutting 120,000 jobs in November. The net profit of S&P 500 large companies grew by 12.9% in the third quarter, while the profitability of small businesses weakened. The Bank of America Institute pointed out that the K-shaped differentiation within the economy is intensifying, affecting the job market

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US
.SPX
+0.32%
US
ADP
+0.43%
Wallstreetcn·
US
.SPX
+0.32%
US
ADP
+0.43%

Reminder: Please pay close attention to the following (all times are in Beijing time)

Daily focus: Japan's November unemployment rate, preliminary industrial output, and other economic data; stock markets in many parts of the world are closed; Guangdong-Hong Kong-Macao Greater Bay Area Low-altitude Economy Conference and Honor Win series launch; National Development and Reform Commission press conference; China's industrial enterprise profit data; LEAPMOTOR 10th anniversary press conference and brain-computer interface exhibition

Wallstreetcn·
HK
09863
+1.75%
Wallstreetcn·
HK
09863
+1.75%

Foreign capital is optimistic about investment opportunities in emerging markets

Emerging market assets performed well in 2025, with the MSCI Emerging Markets Index having a cumulative increase of nearly 30% this year. Several international investment banks believe that under the macro environment of the Federal Reserve's interest rate cuts and a weakening dollar, emerging markets represented by China are entering a window for allocation. (China Securities Journal)

Wallstreetcn·
US
VWO
-0.04%
Wallstreetcn·
US
VWO
-0.04%

China Investment Silver LOF resumes trading and hits the limit down, what to do with the "string" of premium LOFs?

After resuming trading, Guotou Silver LOF hit the daily limit down, with a premium rate still exceeding 45%. Affected by this, several LOFs have a premium rate exceeding 10%, including bond funds. Investors should be cautious when investing in high-premium funds, as they may face losses. Guotou Silver LOF has recently gained high popularity, attracting a lot of attention. The small circulation provides room for speculation, resembling the status of micro-cap stocks

Wallstreetcn·
US
AGQ
+1.02%
US
SLV
+0.59%
Wallstreetcn·
US
AGQ
+1.02%
US
SLV
+0.59%

£867 million, Chinese giants acquire top copper-gold mine in South America! The mine has been validated by international peers for many years, but has been hesitant due to high development difficulty

Jiangxi Copper, through its wholly-owned subsidiary Jiangxi Copper Hong Kong Investment, is acquiring all issued and to be issued share capital of SolGold at a cash price of 28 pence per share, valuing the deal at approximately £867 million. The acquisition price represents a premium of about 42.9% over the initial contact. The board of SolGold has recommended that shareholders support the acquisition, and has received irrevocable commitments from shareholders including BHP and Newmont, collectively holding approximately 25.7% of the shares. Additionally, the board of the target company has also provided letters of support for the acquisition, collectively holding approximately 2.8% of the shares

Wallstreetcn·
SH
600362
+3.67%
HK
00358
+0.65%
Wallstreetcn·
SH
600362
+3.67%
HK
00358
+0.65%

For 2026, these are the top 10 questions that Goldman Sachs' leading technology traders are most concerned about

Goldman Sachs trader Callahan pointed out that in 2026, the focus of technology stocks will shift from hardware hype to AI investment returns and market breadth. Although the contribution of the "Mag7" remains significant, the growth rate is slowing down and differentiation is intensifying. He listed ten key issues covering the sustainability of AI spending, software valuation repair, Apple's positioning, the LLM landscape, and cyclical turning points

Wallstreetcn·
US
GS
+1.01%
US
NVDA
-0.32%
US
AAPL
+0.53%
Wallstreetcn·
US
GS
+1.01%
US
NVDA
-0.32%
US
AAPL
+0.53%

Dare to arbitrage? China Investment Silver LOF takes action again: A-class regular investment limit reduced back to 100 yuan, effective from December 29

The fund has adjusted its investment amount multiple times in just two months, decreasing from 6,000 yuan to 100 on October 20, then increasing from 100 to 500 on December 19, and the latest announcement has lowered it back to 100. Guotou Silver LOF also announced that it will suspend trading from the opening on the 26th until 10:30 and will resume trading afterward, warning of significant premium risks in the secondary market trading prices. After consecutive limit-ups, the fund briefly turned into a limit-down today, confirming the market's concerns about arbitrage risks

Wallstreetcn·
US
AGQ
+1.02%
US
SLV
+0.59%
Wallstreetcn·
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AGQ
+1.02%
US
SLV
+0.59%

Samsung Electronics plans to integrate its self-developed GPU into application processors for the first time in 2027, accelerating its edge-side AI layout

Samsung Electronics plans to adopt its self-developed GPU for the first time in the Exynos 2800 chip in 2027, replacing the existing AMD RDNA-based Xclipse solution to reduce external dependence and enhance technological autonomy. This GPU will start with smartphones and gradually expand to smart glasses, robotics, automotive SoCs, and AI-specific chips, helping to build an end-to-end edge AI ecosystem

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SSNGY
0.00%
Wallstreetcn·
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SSNGY
0.00%

DingTalk creates "Silicon-based Employees"

DingTalk has launched dedicated hardware Ding Talk Real and AI system Agent OS for enterprise organizations, aiming to connect the physical world directly through AI and create an operating system for the AI era, realizing the future of "silicon-based employees" working. CEO Chen Hang stated that all AI Agents on DingTalk will operate based on Agent OS in the future. DingTalk hopes to liberate productivity through a unified scheduling AI system and become the Android and iOS of the artificial intelligence era

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NA
OpenAI
0.00%
US
MSFT
+0.24%
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NA
OpenAI
0.00%
US
MSFT
+0.24%
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