美股再创新高
The US shares are still high.
受突发利好消息刺激，美股周四应声跳涨。
Excited by the unexpected good news, the US responded on Thursday.
道指上涨220点，标普500指数上涨0.9%，创下纪录高点，纳指上涨0.7%，也触及纪录高点。盘中三大股指均触及纪录高点，为11月27日以来首次。
The index rises by 220 points, the index rises by 0.9%, and the index rises to a record high of 0.7%, which also touches a record high. All three of the indicators in the inventory, for the first time since 27 November, reach a record high.
CBOE恐慌指数VIX下跌7%，报13.94。贸易相关类个股走强，卡特皮勒上涨1.93%，福特和通用汽车分别上涨2.3%和2.5%。
The CBOE panic index VIX fell by 7% and reported 13.94.
银行股也受到提振，美国国债收益率上升。摩根大通、美国银行和花旗集团的股价均上涨了至少1.4%。基准10年期美国国债收益率升至1.892%，两年期国债收益率为1.67%。
Bank shares have also been boosted, and the rate of return on US Treasury debt has risen. Stock prices for Morgan Chase, US banks and Citigroup have all increased by at least 1.4 per cent, compared to 1.89 per cent in the benchmark 10-year period and 1.67 per cent in the biennium.
离岸人民币/美元最低触及6.9180，最大回撤超过1100基点，目前交投于6.943附近，日内涨幅1.2%，料创近三个月最大单日涨幅。
The offshore renminbi/United States dollar reached the lowest point of 6.9180 and the largest retreat exceeded the base point of 1,100. It is now in the vicinity of 6.943, with an increase of 1.2 per cent in the day and a maximum one-day increase of nearly three months.
受市场避险情绪迅速降温影响，美市盘中，现货黄金上演“高台跳水”，自日高1486.67美元/盎司短线大跌逾22美元，刷新日低至1464.45美元/盎司，现交投于1465美元/盎司附近。
As a result of the rapid cooling of market evasive sentiments, spot gold in the United States market was presented as a “high dive” of over US$ 1486.67 per ounce per day, falling by over US$ 22 per day, refreshing the day as low as US$ 1464.45 per ounce, and is now delivered close to US$ 1,465 per ounce.
现货钯金隔夜大涨逾70美元至1954美元/盎司，德国商业银行的分析师指出，这突破了黄金在2011年创下的1911美元附近的峰值。
The spot money rose by more than $70 to US$ 1954 per ounce over the night, which, according to the analysts of the German commercial banks, was a breakthrough in the near US$ 1911 in gold, which was created in 2011.
另外值得一提的是，周五亚市早盘，英镑/美元短线暴拉逾310点，日内涨幅超2%，刷新2018年6月以来新高至1.346。
It is also worth mentioning that on Friday, Friday, the city had over 310 p.m. in the £/United States dollar short line, with an increase of over 2 per cent in the day and a new upturn to 1.346 since June 2018.
最新出炉的出口民调显示，英国保守党将赢得368个席位，工党将赢得191个席位，苏格兰民族党将赢得55个席位，自由民主党将赢得13个席位，脱欧党将赢得0个席位。
According to the latest export poll, the British Conservative Party will win 368 seats, the Labour Party will win 191 seats, the Scottish National Party will win 55 seats, the Liberal Democratic Party will win 13 seats, and the Tri-European Party will win 0 seats.
对此，工党发言人表示，现在定论大选结果为时尚早。
In response, the Labour spokesperson stated that it was too early to determine the results of the general elections.
嘉宾秦毅观点
Qin Qin's point of view
1、标普500 10月20-12月11日：指数+5%，其中铜+34%，电脑电器+19%，专卖店+17%，食品零售+17%，生物科技+15%，油气设备+14%，油气钻探+14%跌幅：休闲用品-18%医疗保健REIT -15% 啤酒-10%；美联储维持利率不变，利率处于支持经济增长和就业的“适当”水平，不确定性用语去除，点阵图显示2020利率不动（11月核心CPI 月度+0.2%，年2.3%）；钯金价格创新高，14天连涨（南非能源危机），铜价6连涨；过去2月，矿业，钢铁，铜类企业涨幅明显超过指数，RIO 铁矿+11%,FCX 铜矿+29%；紫金矿业2899.HK铜金资源国际化( 70亿人民币收购大陆黄金100%股权，该矿维持成本492美元/盎司，达厂年产量8.8吨和15.4吨银）;港币兑美国7.8041，为7月以来最强值；
(a) 20 October-11 December: index + 5 per cent, including copper + 34 per cent, computer appliances + 19 per cent, specialized stores + 17 per cent, food retail + 17 per cent, biotech + 15 per cent, hydrocarbon equipment + 14 per cent, oil and gas drilling + 14 per cent, falling by: recreational supplies - 18 per cent health care REIT - 15 per cent beer - 10 per cent; Fed maintenance of interest rates at the “appropriate” level in support of economic growth and employment, with uncertainty removed, and point maps showing that interest rates at 2020 are not moving at all (November core CPI + 0.2 per cent per month, 2.3 per cent per cent per year); high gold prices at 14 consecutive days (South Africa’s energy crisis) and copper prices at 6 consecutive times; mining, iron and steel, copper industries increased significantly over the index in the past February, RIO iron and iron mines + 11 per cent, FCX copper or copper ore + 29 per cent; purple gold mining, 2899.HK copper or copper resources at the international level (70 billion yuan to buy 100 per cent of gold on the mainland at the cost of $492 per cent/t) and 15.4 per cent;
2、油气资产：年至今，石油勘探跑输大盘29%，连续3年跑输，累计达到了70%；但10月20至今石油公司COP+16%，超越大盘的5%，COP 自由现金收益率2020E 6.8%，股息收益率2019E 22%,行业：即使考虑OPEC 减产，单2020年市场依然供应过剩，油价箱体运行，大选的不确定；
2. Hydrocarbon assets: year to date, 29 per cent of oil exploration rolls and three consecutive years, cumulatively 70 per cent; however, 20 October to date, oil companies COP+16 per cent, exceeding 5 per cent of the roll, COP free cash returns of 2020E 6.8 per cent, dividends of 2019E 22 per cent, industry: the 2020 market was oversupplyed even after taking into account the decline in production of OPEC, oil price tank operations, uncertainty about the general elections;
3、半导体核心硅片：目前全球第一产量SUMCO （年至今+50%）300MM 硅片长期合约延长至2022-2023年， 记忆需求预计2020年中期复苏；海力士DDR5 即将2020年上市，相比DDR5 带宽速度功耗更优，速度比DDR4 快60%，大小也比DDR4 大15%-20%。
3. Semiconductor core silicon tablets: the current global first production of SUMCO (year to date + 50 per cent) 300MM silicon long-term contract is extended to 2022-2023, and needs for memory are expected to recover in mid-2020; Hercules DR5 will be on the market in 2020, with better power than the DDR5 bandwidth, 60 per cent faster than the DR4, and 15-20 per cent larger than the DR4.
海外一览
Appearance overseas
欧洲央行维持三大利率不变
The ECB maintains three main interest rates constant /strang >
欧洲央行12月维持存款利率-0.5%、主要再融资利率0.00%、边际贷款利率为0.25%不变。土耳其央行将基准回购利率下调200个基点至12%，为年内第四次降息。
In December, the ECB maintained a deposit rate of 0.5%, a primary refinancing rate of 0.00%, and a marginal loan rate of 0.25%. The Central Bank of Turkey reduced its benchmark repurchase rate by 200 to 12%, the fourth reduction in interest rates during the year.
负利率冲击波：年内全球各地银行宣布裁员约7.3万人
negative interest rate shock wave: worldwide banks announced about 73,000 layoffs during the year
据21世纪援引媒体报道，今年以来全球各地银行宣布裁员总数达到约73400人，其中86%来自欧洲等负利率地区。日本三大银行中，瑞穗金融集团正在推进到2026年末削减1.9万人的计划；三井住友金融集团提出到今年年底削减近5000人；三菱日联银行宣布到2023年度减少逾1万人的计划。
According to media reports in the twenty-first century, banks around the world have announced a total of about 73,400 layoffs since this year, 86% of them from negative interest-rate areas such as Europe. Of Japan’s three major banks, the Sio Financial Group is moving ahead with plans to cut by 19,000 people by the end of 2026; the Sani Financial Group has proposed cuts of nearly 5,000 people by the end of this year; and the Mitsubishi Japan Bank has announced plans to reduce by more than 10,000 people by 2023.
美国联邦航空局：今年无法批准波音737MAX复飞
United States Federal Aviation Office: unable to authorize the re-entry of Boeing 737MAX this year
据新华社消息，美国联邦航空局局长史蒂芬·迪克森11日说，波音737MAX飞机无法在今年被批准复飞，目前也没有明确时间表。迪克森当天在接受美国媒体采访时说，美国联邦航空局仍要完成10到11个步骤才能批准复飞。“这样算的话，这一过程将延续至2020年。”
According to Xinhua, United States Federal Aviation Director Stephen Dickson said on 11th, the Boeing 737 MAX could not be authorized to resume this year, and there was no clear timetable. Dixon said in an interview with the American media that day that the US Federal Aviation Authority still had 10 to 11 steps to approve. “In this case, the process will continue until 2020.”
原油反弹
国际油价震荡走高，贸易形势提振市场信心。截至收盘，WTI原油主力合约涨0.7%。报59.18美元/桶，布伦特原油主力合约涨0.8%，报64.20美元/桶。
International oil prices have swollen and the trade situation has boosted market confidence. As of the closing, WTI's main crude oil contract has increased by 0.7 per cent. For $59.18 per barrel, Brent's main crude oil contract has increased by 0.8 per cent and for $64.20 per barrel.
财经要闻
中央全面定调2020年 明年要抓六件大事
中央经济工作会议12月10日至12日在京举行。会议指出，坚定不移贯彻新发展理念排在首位。会议用了99字聚焦资本市场，重点提及创业板和新三板改革，对我国金融体系也有较为乐观的评价。此外，对于房地产也有着墨。会议确定，明年要抓好以下重点工作：1、坚定不移贯彻新发展理念；2、坚决打好三大攻坚战；3、确保民生特别是困难群众基本生活得到有效保障和改善；4、继续实施积极的财政政策和稳健的货币政策；5、着力推动高质量发展；6、深化经济体制改革。
The Central Economic Work Session, held in Kyoto from 10 to 12 December, noted the primacy of a firm commitment to the new concept of development. The meeting focused on the capital market in 99 words, with emphasis on entrepreneurship and the new three-board reform, with a somewhat optimistic assessment of our financial system. In addition, there is ink on real estate. The meeting identified the following priorities for the coming year: (a) a firm implementation of the new concept of development; (b) a resolute fight against the three major battles; (c) ensuring effective security and improvement of the basic livelihood of the population, especially those in need; (d) the continuation of active fiscal policies and sound monetary policies; (e) investing in high-quality development; and (f) deepening economic and institutional reforms.
商务部回应中美经贸磋商进展：双方经贸团队一直保持密切沟通
商务部新闻发言人高峰在回答中美经贸磋商相关问题时表示，双方经贸团队一直保持密切沟通，目前没有更多细节向大家透露。高峰还介绍，目前国务院关税税则委员会正在根据相关企业的申请，有序开展部分自美进口大豆、猪肉等商品加征关税的排除工作。
In response to questions about US-China trade and economic consultations, the Ministry of Commerce’s news spokesperson at the summit said that the two trade and economic teams had been in close communication and that there were no more details to be revealed. The summit also noted that the State Department’s Customs and Excise Commission was currently conducting an orderly process to remove some of the imports of soybeans, pork, etc. from the United States on the basis of the applications of the companies concerned.
商务部：上诉机构“停摆”让WTO遭受成立以来最沉重打击
Department of Commerce: The Appellate Body “stopped” and hit the WTO the hardest since its inception
在12月12日举行的中国商务部新闻发布会上，新闻发言人高峰表示：目前世贸组织上诉机构仅剩一名成员，世贸组织争端解决机制基本陷于“瘫痪”。这是世贸组织成立以来，多边贸易体制遭受的最沉重的打击，中方对此表示遗憾。
At a press conference held by the Chinese Ministry of Commerce on 12 December, press speakers had expressed regret that the WTO dispute settlement mechanism, which currently had only one member of the Appellate Body, had been largely “paralyzed”, had been the hardest hit by the multilateral trading system since the establishment of WTO.
央行：只有持牌机构才能通过金融科技提供创新的金融服务产品
据中证报消息，央行科技司司长李伟12日上表示，金融科技本质是金融，因此只有持牌机构才能通过金融科技提供创新的金融服务产品，科技公司可以通过提供技术的支持、技术解决方案等方式和持牌金融机构合作参与金融科技的创新。
According to the source, the Director of Science and Technology of the Central Bank, Li Wei 12, stated that financial science and technology is financial in nature, so only licensed institutions can provide innovative financial services through financial science and technology, and that technology companies can participate in financial science and technology innovation by providing technical support, technological solutions and cooperation with licensed financial institutions.
央行法定数字货币有望试点？知情人士称是内部测试
the central bank's legal digital currency is expected to pilot? > informed sources refer to internal tests
据21世纪，近日有媒体报道称，由人民银行牵头，工、农、中、建四大国有商业银行，中国移动、中国电信、中国联通三大电信运营商共同参与的央行法定数字货币试点项目有望在深圳、苏州等地落地。记者从接近央行数字货币研究所的知情人士处获悉，现在离试点还比较远，更准确的说法应该是进行内部测试。
According to recent media reports in the twenty-first century, the Central Bank’s pilot project on digital money, led by the People’s Bank, with commercial banks in the four largest countries, China’s mobile, China’s telecommunications, and China’s connectivity to three major telecommunications operators, is expected to land in Shenzhen and Suzhou. Journalists have learned from sources close to the Central Bank’s Digital Monetary Institute that it is still far from the pilot, and that the more accurate version should be internal testing.
深圳取消商务公寓“只租不售”限制
Shenzhen removes the “rent-no-sale” restrictions on business apartments
继调整“豪宅税”标准之后，深圳再出楼市调控政策。12日上午，深圳市住房和建设局向媒体披露，深圳已取消去年出台的商务公寓“只租不售”限制。12日晚，深圳市住房和建设局官微发文指出，取消商务公寓“只租不售”，不意味放松调控。
In the morning, the Shenzhen Housing and Construction Department revealed to the media that Shenzhen had removed the last year's “no-for-sale” restrictions on business apartments. On the evening of the 12th day, the Shenzhen Housing and Construction Officer wrote that the removal of business apartments “for-sales only” did not imply a relaxation of regulation.
2020春运民航旅客料达7900万人次创历史新高
70 million flights of civilian passengers in the spring of 2020 have reached an all-time high of
中国民航局运输司司长于彪12日在发布会上表示，根据预测，2020年春运民航旅客运输量将再创历史新高，预计达7900万人次，同比增长约8.4%。国内航线1月23日达到出行峰值，节前1月18日及春节假期最后一天1月30日均可能出现旅客大规模集中出行。
The Director-General of the Transport Department of the Chinese Civil Aviation Authority, at his launch in Biao12, stated that, according to projections, the volume of passengers travelling in civil aviation in the spring of 2020 was expected to reach an all-time high of 79 million, an increase of about 8.4 per cent compared with the previous year, and that the country's air routes had reached their peak on 23 January, and that large-scale concentrations of passengers were likely to occur on 30 January, the last day of the holidays preceding 18 January and the spring holidays.
上交所王勇：支持和鼓励“硬科技”企业上市
据第一财经，上交所市场发展与服务专业委员会专职委员王勇指出，自今年7月上交所科创板开市以来，整体情况运行平稳，符合预期。总体上，科创板上市公司的科创属性和成长性较为明显，接下来，将支持和鼓励“硬科技”企业上市。
According to Wang Yong, a full-time member of the Board of Specialists on Market Development and Services, the overall situation has been smooth and positive since the Board’s launch in July of this year. On the whole, the characteristics and growth of companies listed on the Board are more visible, and “hard technology” companies will be supported and encouraged to go on the market.
北向资金12月12日净流入65.23亿元
net transfer of $6,523 million to 12 December
北向资金连续21日净流入，中国平安、正泰电器、贵州茅台、宁德时代、京东方A分别获净买入7.42亿元、4.54亿元、3.54亿元、2.94亿元、2.16亿元。海康威视、迈瑞医疗分别遭净卖出2.02亿元、0.94亿元。
For 21 days in a row, the North received 742 million yuan, 454 million yuan, 354 million yuan, 294 million yuan, and 216 million yuan, respectively, in the days of peace in China, Changtai appliances in Guizhou, Maotai in China, Ningde in China, and Kyeongdong A in China.
2019胡润品牌榜公布 贵州茅台以6400亿品牌价值夺冠
2019 Hu-Lun's list has been announced. >/strang/strang
胡润研究院12日发布“2019胡润品牌榜”，贵州茅台以6400亿品牌价值夺冠，中华以3500亿品牌价值、天猫以品牌价值3200亿分别位列第二、第三。淘宝、中国工商银行、微信、平安、腾讯、中国建设银行、中国移动进入前十。百度跌出十强，以1050亿元位列第20。
On the 12th day, the Hu Yun Institute published the “2019 Hu Yu brand list”, which was won by 640 billion brands in Guizhou, and China by 350 billion brands and Skycat by 320 billion brands, respectively, in the second and third places.
币圈大佬孙宇晨微博账号被封杀
Sun Woo Weibo's account number was sealed off
波场创始人孙宇晨和币安联合创始人何一的微博账号疑似被关闭，相关页面显示该账号因被投诉违反法律法规和《微博社区公约》的相关规定，现已无法查看。
It is suspected that the Twitter account of Sun Woo-moo, the founder of the Poll, and the co-founder of the Yuanan coalition, has been closed, and the relevant page shows that it is not now accessible because of complaints of violations of the laws and regulations and the relevant provisions of the Convention on the Community of Weibo.
重要公告
科伦药业：吉非替尼片获药品注册批件
Collon Pharmacy:
紫天科技：拟浙江设全资子公司研发升级先进终端投放设备
violet technology: Research and Development Upgrading Advanced Terminal Launching Equipment of Zhejiang Establishment
会畅通讯：全资子公司成为华为合格供应商
will be available for communication: fully-owned subsidiaries will become qualified Chinese suppliers
三花智控：全资子公司成为宝马供货商
Triumph Control: fully-owned subsidiaries become BMW suppliers
中矿资源：与中化明达签战略合作框架协议推动非洲矿权开发
Mineral resources in : and the Centralized Mingda Strategic Cooperation Framework Agreement to promote mineral rights development in Africa
丽鹏股份：子公司转让2.39亿元债权资产
share: subsidiary transfers $239 million in claims assets
国泰集团：拟收购三石有色95%股权并增资扩股
国海证券：获准开通股票期权业务交易权限
state maritime securities: is authorized to open trading rights for stock options
亨通光电：重组过会股票今日复牌
Photovoltaics: reconfigured stock today
个股关注
unit concerned
SUOPY 全球最大半导体硅片商
SUOPY the world's largest semiconductor silicon player
1、WSTS月度数据：半导体出货量恢复，硅片需求2020 2021 增长 5.2%和6.6%，硅片需求2016-2018 +2.9% +10%和+7.8% ，2019全年预计-6.8%；2019年全球半导体预计实现4000亿美元，同比13%的跌幅，主要是记忆芯片同比跌幅31%，而记忆芯片2017和2018年的增幅分别高达62%和27%；
Monthly WSTS data: Semiconductor output recovery, 2020 2021 growth in silicon demand, 5.2 per cent and 6.6 per cent, silicon demand, 2016-2018 + 2.9 per cent + 10 per cent and + 7.8 per cent, projected for 2019 - 6.8 per cent; global semiconductors are expected to achieve $400 billion in 2019, a decline of 13 per cent compared to 31 per cent in memory chips, compared to 62 per cent and 27 per cent in 2017 and 2018 respectively;
2、DRAM 和NAND 流程过渡和层级分别提升单位芯片BIT 提升12%和30%，硅片需求2020和2021 同比增幅+1.5%和+3.3%；
, DRAM and NAND process transition and upgrade of unit chip BIT by 12 per cent and 30 per cent, respectively, and silicon demand by 2020 and 2021 by +1.5 per cent and +3.3 per cent respectively;
3、SUMCO:2019毛利率35%，EBITDA利润率31%净利润率12%；ROE 12%;现价13*2019PE 。
3, SUMCO: Māori rate of 35 per cent for 2019 and net profit margin of 31 per cent for EBITDA 12 per cent; ROE 12 per cent; current price 13*2019PE.
第一财经资讯7:30-8:00《从华尔街到陆家嘴》为您开启市场大门。
First Finance Information 7:30-8:00, "From Wall Street to Land's Mouth" opens the market door for you.
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