中信证券：霍尔木兹海峡通航问题仍将扰动各类资产

2026-07-24 · 股票配资平台

жүӢжңәжҹҘзңӢиҙўз»Ҹеҝ«и®Ҝ дёҖжүӢжҺҢжҸЎеёӮеңәи„үжҗҸ гҖҖгҖҖ дёӯдҝЎиҜҒеҲё з ”жҠҘиЎЁзӨәпјҢйңҚе°”жңЁе…№жө·еіЎеұҖеҠҝеҶҚеәҰеҚҮзә§пјҢзҫҺдјҠзҡ„жө·еіЎжҺ§еҲ¶жқғзӯүж ёеҝғзҹӣзӣҫ并жңӘеӣ 6жңҲгҖҠд

жүӢжңәжҹҘзңӢиҙўз»Ҹеҝ«и®Ҝ

дёҖжүӢжҺҢжҸЎеёӮеңәи„үжҗҸ

гҖҖгҖҖ дёӯдҝЎиҜҒеҲё з ”жҠҘиЎЁзӨәпјҢйңҚе°”жңЁе…№жө·еіЎеұҖеҠҝеҶҚеәҰеҚҮзә§пјҢзҫҺдјҠзҡ„жө·еіЎжҺ§еҲ¶жқғзӯүж ёеҝғзҹӣзӣҫ并жңӘеӣ 6жңҲгҖҠдјҠж–Ҝе…°е Ўи°…и§ЈеӨҮеҝҳеҪ•гҖӢиҖҢеҫ—еҲ°и§ЈеҶігҖӮеӨҮеҝҳеҪ•дёҖеәҰжҺЁеҠЁжө·еіЎйҖҡиҲӘжҒўеӨҚпјҢдҪҶйҡҸзқҖзҫҺеӣҪжҺЁиЎҢеҚ—йғЁиҲӘйҒ“гҖҒдјҠжң—ејәеҢ–еҜ№иҲӘйҒ“зҡ„е®һйҷ…жҺ§еҲ¶пјҢеҸҢж–№зҹӣзӣҫйҮҚж–°жҝҖеҢ–иҮҙдҪҝйҖҡиҲӘеҶҚеәҰеҸ—йҳ»гҖӮиө„дә§ж–№йқўпјҢйў„и®ЎеҺҹжІ№зҹӯжңҹиө°ејәпјҢеҗҺз»ӯд»ҚеӨ§е№…жіўеҠЁпјӣе…ЁзҗғиӮЎеёӮзӯүйЈҺйҷ©иө„дә§д»Қ然иғҪиө°еҮәзӢ¬з«ӢиЎҢжғ…пјӣ й»„йҮ‘ зҹӯжңҹеҶ…继з»ӯиЎЁзҺ°дёәйЈҺйҷ©иө„дә§еҸ—еҲ°еҺӢеҲ¶гҖӮйў„и®ЎзҫҺдјҠж ёеҝғеҲҶжӯ§зҹӯж—¶й—ҙж— жі•зңҹжӯЈи§ЈеҶіпјҢеңЁжӯӨд№ӢеүҚйңҚе°”жңЁе…№жө·еіЎйҖҡиҲӘй—®йўҳд»Қе°Ҷ继з»ӯжү°еҠЁе…Ёзҗғеҗ„зұ»иө„дә§гҖӮ

гҖҖгҖҖе…Ёж–ҮеҰӮдёӢпјҡ

гҖҖгҖҖеӨ§зұ»иө„дә§пҪңйңҚе°”жңЁе…№жө·еіЎйҖҡиҲӘжғ…еҶөеҜ№еёӮеңәеҪұе“Қ

гҖҖгҖҖйңҚе°”жңЁе…№жө·еіЎеұҖеҠҝеҶҚеәҰеҚҮзә§пјҢзҫҺдјҠзҡ„жө·еіЎжҺ§еҲ¶жқғзӯүж ёеҝғзҹӣзӣҫ并жңӘеӣ 6жңҲгҖҠдјҠж–Ҝе…°е Ўи°…и§ЈеӨҮеҝҳеҪ•гҖӢиҖҢеҫ—еҲ°и§ЈеҶігҖӮеӨҮеҝҳеҪ•дёҖеәҰжҺЁеҠЁжө·еіЎйҖҡиҲӘжҒўеӨҚпјҢдҪҶйҡҸзқҖзҫҺеӣҪжҺЁиЎҢеҚ—йғЁиҲӘйҒ“гҖҒдјҠжң—ејәеҢ–еҜ№иҲӘйҒ“зҡ„е®һйҷ…жҺ§еҲ¶пјҢеҸҢж–№зҹӣзӣҫйҮҚж–°жҝҖеҢ–иҮҙдҪҝйҖҡиҲӘеҶҚеәҰеҸ—йҳ»гҖӮиө„дә§ж–№йқўпјҢйў„и®ЎеҺҹжІ№зҹӯжңҹиө°ејәпјҢеҗҺз»ӯд»ҚеӨ§е№…жіўеҠЁпјӣе…ЁзҗғиӮЎеёӮзӯүйЈҺйҷ©иө„дә§д»Қ然иғҪиө°еҮәзӢ¬з«ӢиЎҢжғ…пјӣ й»„йҮ‘ зҹӯжңҹеҶ…继з»ӯиЎЁзҺ°дёәйЈҺйҷ©иө„дә§еҸ—еҲ°еҺӢеҲ¶гҖӮйў„и®ЎзҫҺдјҠж ёеҝғеҲҶжӯ§зҹӯж—¶й—ҙж— жі•зңҹжӯЈи§ЈеҶіпјҢеңЁжӯӨд№ӢеүҚйңҚе°”жңЁе…№жө·еіЎйҖҡиҲӘй—®йўҳд»Қе°Ҷ继з»ӯжү°еҠЁе…Ёзҗғеҗ„зұ»иө„дә§гҖӮ

гҖҖгҖҖзҫҺдјҠеҶІзӘҒеҶҚеәҰеҚҮзә§пјҢйңҚе°”жңЁе…№жө·еіЎйҮҚж–°жҲҗдёәе…Ёзҗғиө„дә§е®ҡд»·йҮҚиҰҒеҸҳйҮҸгҖӮ

гҖҖгҖҖ7жңҲ12ж—ҘдјҠжң—е®Јеёғе…ій—ӯйңҚе°”жңЁе…№жө·еіЎпјҢзҫҺеӣҪйҡҸеҚіжү©еӨ§еҜ№дјҠеҶӣдәӢжү“еҮ»пјҢдјҠжң—еҲҷеҜ№дёӯдёңзҫҺеҶӣеҹәең°еұ•ејҖжҠҘеӨҚиЎҢеҠЁгҖӮиҝҷжҳҜ6жңҲ17ж—ҘзҫҺдјҠзӯҫзҪІгҖҠдјҠж–Ҝе…°е Ўи°…и§ЈеӨҮеҝҳеҪ•гҖӢпјҲMOUпјүд»ҘжқҘжңҖдёҘйҮҚзҡ„дёҖж¬ЎеұҖеҠҝжҒ¶еҢ–пјҢж„Ҹе‘ізқҖжӯӨеүҚеёӮеңәйў„жңҹзҡ„йҳ¶ж®өжҖ§зј“е’Ңе·Із»Ҹе®Је‘Ҡз ҙдә§пјҢе…ЁзҗғиғҪжәҗиҝҗиҫ“е’Ңең°зјҳж”ҝжІ»йЈҺйҷ©еҶҚеәҰдёҠеҚҮгҖӮ

гҖҖ гҖҖв–Қи°…и§ЈеӨҮеҝҳеҪ•жӣҫзҹӯжҡӮжҺЁеҠЁжө·еіЎйҖҡиҲӘжҳҫи‘—дҝ®еӨҚпјҢдҪҶ6жңҲеә•еҗҺеҝ«йҖҹжҒ¶еҢ–гҖӮ

гҖҖгҖҖж №жҚ®еӨҮеҝҳеҪ•е®үжҺ’пјҢдјҠжң—жүҝиҜәжү«йӣ·е№¶е®үжҺ’жҒўеӨҚе•ҶиҲ№йҖҡиЎҢгҖӮжӯӨеҗҺйңҚе°”жңЁе…№жө·еіЎйҖҡиҲӘйҮҸеҝ«йҖҹеӣһеҚҮгҖӮдҪҶеңЁ6жңҲеә•д№ӢеҗҺйҡҸзқҖзҫҺдјҠеҶІзӘҒеҶҚеәҰзҲҶеҸ‘пјҢжө·еіЎж—ҘйҖҡиЎҢйҮҸжҢҒз»ӯеӣһиҗҪпјҢд»Һй«ҳдҪҚжҜҸж—Ҙ70иүҳдёӢйҷҚиҮі7жңҲдёӯж—¬жҜҸж—ҘеҚҒдҪҷиүҳгҖӮеҗҢж—¶пјҢиҲ№еҸӘиҲӘзәҝжҳҺжҳҫеҗ‘дјҠжң—жҺ§еҲ¶зҡ„еҢ—дҫ§иҲӘйҒ“йӣҶдёӯгҖӮ

гҖҖгҖҖ в–ҚзҫҺдјҠж ёеҝғзҹӣзӣҫе§Ӣз»ҲжңӘиў«и§ЈеҶіпјҢзҹӯжңҹд»Қ然йҡҫиЁҖеҸҜд»ҘжҒўеӨҚйҖҡиҲӘгҖӮ

гҖҖгҖҖйҡҸзқҖзҫҺеӣҪе°қиҜ•з»•ејҖMOUжһ„е»әеҚ—йғЁиҲӘзәҝпјҢдјҠжң—ејҖе§Ӣд»ҘжӯҰеҠӣйҷҗеҲ¶еҚ—йғЁйҖҡиҲӘгҖӮзҫҺдјҠеӣҙз»•жө·еіЎжҺ§еҲ¶жқғзҡ„зҹӣзӣҫзҲҶеҸ‘еҜјиҮҙ6жңҲеә•д№ӢеҗҺеұҖеҠҝиҝ…йҖҹжҒ¶еҢ–гҖӮ

гҖҖгҖҖ в–ҚзҹӯжңҹеҶ…д»ҚйҡҫзңӢеҲ°зңҹжӯЈзҡ„еұҖеҠҝзј“е’ҢгҖӮ

гҖҖгҖҖж— и®әжҳҜзү№жң—жҷ®ж”ҝеәңзҡ„йҖүдёҫиҖғйҮҸпјҢиҝҳжҳҜдјҠжң—еӣҪеҶ…зҡ„з»ҸжөҺеҺӢеҠӣпјҢзӣ®еүҚеқҮдёҚи¶ід»Ҙиҝ«дҪҝд»»дҪ•дёҖж–№еҒҡеҮәе®һиҙЁжҖ§и®©жӯҘгҖӮжӯӨеӨ–пјҢд»ҘиүІеҲ—д»ҚеҸҜиғҪжҺЁеҠЁеұҖеҠҝеҚҮзә§гҖӮеӣ жӯӨпјҢеңЁйңҚе°”жңЁе…№жө·еіЎжҺ§еҲ¶жқғд»ҘеҸҠдјҠжң—е…іжіЁзҡ„ең°еҢәе®үе…Ёй—®йўҳжңӘеҸ–еҫ—зӘҒз ҙд№ӢеүҚпјҢд»»дҪ•йҳ¶ж®өжҖ§еҒңзҒ«жҲ–и°ҲеҲӨжҲҗжһңйғҪеҸҜиғҪд»…жҳҜжҡӮж—¶жҖ§зҡ„гҖӮ

гҖҖгҖҖ в–ҚеӨ§зұ»иө„дә§ж–№йқўпјҢйў„и®Ўж•ҙдҪ“дёҠд»Қ然еҸ—еҲ°жіўеҠЁеҪұе“ҚгҖӮ

гҖҖгҖҖжө·еіЎйҖҡиЎҢеҸ—йҳ»ж„Ҹе‘ізқҖеҺҹжІ№дҫӣз»ҷйЈҺйҷ©д»Қ然еӯҳеңЁпјҢжІ№д»·дёӯжһўзҹӯжңҹд»ҚжңүдёҠиЎҢз©әй—ҙпјҢзҫҺдјҠзҹӣзӣҫзңҹжӯЈзј“и§Јд№ӢеүҚд»Қ然еҸҜиғҪжҳҜйңҮиҚЎеёӮгҖӮйЈҺйҷ©иө„дә§еҜ№ең°зјҳеҶІзӘҒжӣҙдёҚж•Ҹж„ҹпјҢзҫҺиӮЎеҸҠе…ЁзҗғжқғзӣҠиө„дә§жӣҙеӨҡд»Қз”ұAIдә§дёҡжң¬иә«йҖ»иҫ‘дё»еҜјгҖӮ й»„йҮ‘ еҲҷ继з»ӯе‘ҲзҺ°вҖңйЈҺйҷ©иө„дә§еҢ–вҖқзү№еҫҒпјҢзҹӯжңҹ继з»ӯеҸ—еҲ°жө·еіЎйҡҫд»ҘйҖҡиҲӘзҡ„еҺӢеҲ¶гҖӮж•ҙдҪ“жқҘзңӢпјҢеңЁзҫҺдјҠж ёеҝғзҹӣзӣҫзңҹжӯЈзј“е’Ңд№ӢеүҚпјҢйңҚе°”жңЁе…№жө·еіЎд»ҚжҳҜеҪұе“Қе…ЁзҗғеӨ§зұ»иө„дә§й…ҚзҪ®зҡ„йҮҚиҰҒеҸҳйҮҸгҖӮ

гҖҖгҖҖв–Қжң¬е‘ЁжңҹдёӯпјҲ2026/06/27~2026/07/10пјҢдёӢеҗҢпјүпјҢеӨ§зұ»иө„дә§ж•ҙдҪ“иЎЁзҺ°жғ…еҶөдёәпјҢе…ЁзҗғиӮЎеёӮж¶Ёи·ҢеҲҶеҢ–пјҢзҫҺиӮЎеҸҚеј№иҖҢAиӮЎгҖҒж—ҘиӮЎжүҝеҺӢпјҢжёҜиӮЎеӨ§е№…еҸҚеј№гҖӮе…ЁзҗғеӣҪеҖәеҲ©зҺҮжҷ®йҒҚдёҠиЎҢгҖӮзҫҺе…ғжҢҮж•°е°Ҹе№…иө°ејұпјҢдәәж°‘еёҒеҫ®иҙ¬гҖӮеҺҹжІ№еӣ дёӯдёңжҲҳзҒ«йҮҚзҮғеҸҚеј№пјҢй»„йҮ‘е°Ҹе№…дёҠиЎҢпјҢеҹәжң¬йҮ‘еұһж¶Ёи·Ңдә’зҺ°гҖӮ

гҖҖгҖҖ в–Қжң¬е‘Ёжңҹе…ій”®иө„дә§д»·ж јеҸҳеҠЁпјҡ

гҖҖгҖҖ зәіж–Ҝиҫҫе…Ӣ дёҠж¶Ё3.89%пјҢж Үжҷ®500дёҠж¶Ё3.01%пјҢ欧жҙІSTOXX600дёҠж¶Ё0.82%пјҢж—Ҙз»Ҹ225дёӢи·Ң1.16%пјҢйҹ©еӣҪKospiи·Ң11.12%пјҢдёҠиҜҒз»јжҢҮдёӢи·Ң0.77%пјҢдёҮеҫ—е…ЁAдёӢи·Ң2.69%пјҢжҒ’з”ҹжҢҮж•°дёҠж¶Ё6.63%пјҢжҒ’з”ҹ科жҠҖдёҠж¶ЁзәҰ5.72%гҖӮ10е№ҙжңҹзҫҺеҖә收зӣҠзҺҮдёҠиЎҢ18BPпјҢ10е№ҙжңҹеҫ·еҖә收зӣҠзҺҮдёҠиЎҢ22BPгҖӮзҫҺе…ғжҢҮж•°ж¶Ё0.39%пјҢзҰ»еІёдәәж°‘еёҒе…‘зҫҺе…ғи·Ң0.33%гҖӮWTIеҺҹжІ№дёҠж¶Ё3.15%пјҢдјҰж•ҰзҺ°иҙ§й»„йҮ‘дёҠж¶Ё0.67%пјҢLME й“ң дёҠж¶Ё0.91%пјҢеҚ—еҚҺе·Ҙдёҡе“Ғж¶Ё1.11%пјҢзҢӘиӮүжү№еҸ‘д»·ж¶Ё8.22%гҖӮ

гҖҖ гҖҖв–ҚйЈҺйҷ©еӣ зҙ пјҡ

гҖҖгҖҖең°зјҳж”ҝжІ»йЈҺйҷ©и¶…йў„жңҹгҖҒзҫҺеӣҪйҖҡиғҖи¶…йў„жңҹгҖҒе…Ёзҗғз»ҸжөҺеўһй•ҝдёҚеҸҠйў„жңҹгҖҒзҫҺиҒ”еӮЁиҙ§еёҒж”ҝзӯ–дёҚеҸҠйў„жңҹгҖҒе…Ёзҗғе…¶д»–еӨ®иЎҢиҙ§еёҒж”ҝзӯ–дёҚеҸҠйў„жңҹгҖӮ

пјҲж–Үз« жқҘжәҗпјҡ第дёҖиҙўз»Ҹпјү

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еҚіеҸҜе°ҶзҪ‘йЎөеҲҶдә«иҮіжңӢеҸӢеңҲ

жү«жҸҸдәҢз»ҙз Ғе…іжіЁ

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