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HAKUBUN
08-17
看不懂。真心看不懂
段永平继续加仓拼多多,大幅减持英伟达、谷歌
HAKUBUN
08-15
他要是没加杠杆就赚翻了。不过我也很倒霉, 美联储议息会议前一天清仓的 ,这肉割的,结结实实的
爆仓前最后一个月,“AI股神”加仓美光、闪迪
HAKUBUN
08-15
不信,你们为什么不做空呢?
SK集团会长崔泰源:明年将是内存短缺现象最为严重的一年,将引发“芯片通胀”
HAKUBUN
08-07
东亚藤壶又多了一个品种
韩国严管杠杆后,本土散户涌入美国3倍ETF
HAKUBUN
08-05
华尔街的擦屁股纸,泡沫太多的时候擦一下,用完就扔了
《大空头》原型Michael Burry 押注美股反弹将结束:我们接近一个重大顶部,可能出现类似1987年的暴跌
HAKUBUN
07-29
这种对利率的未知恐惧,已经起到一定程度的加息作用了。
警惕美联储今夜“突袭加息”!多家华尔街机构拉响警报,交易员历史性“焦虑对冲”
HAKUBUN
07-28
华尔街的空投最喜欢拿中国鬼故事吓唬市场,真是屡试不爽呀
中国DRAM巨头搅动全球格局,美股存储芯片跳水,SK海力士破发,闪迪一个月接近腰斩
HAKUBUN
07-27
大裤头蹬鼻子上脸了,怎么不懂得见好就收呢
“大空头”继续狙击AI!Michael Burry扩大英伟达、美光空头仓位,维持做空特斯拉、Palantir
HAKUBUN
07-27
嗯,伊朗越打越富,美国陷入绝境
美伊暂停互袭!美方连续两晚停袭,伊军方:暂停对等打击
HAKUBUN
07-26
信TACO得永生
特朗普下令暂停空袭伊朗
HAKUBUN
07-23
再好的股票,只要被她一买。。。。。。。。。
Cathie Wood称遭遇重挫的SpaceX有望成为“全球历史上最重要的公司”
HAKUBUN
07-18
大裤头胳膊肘朝外拐,做空美股看多港股
“大空头”Michael Burry重磅发声:现在正是发掘香港市场低估值股票的绝佳时机
HAKUBUN
07-16
非要一口饭吃个胖子,这下爽了吧 ,不管是什么标的,只要有韩国人在大量买进,那就要小心了
32万个账户归零之后——韩国去杠杆走到哪了?
HAKUBUN
07-09
好好的2026年,一开年就让伊朗这帮神棍给搅黄了。这几条蛆不灭掉,世界永不安宁
美方对伊朗发动新一轮军事打击,特朗普称停火协议“已经结束”
HAKUBUN
07-08
是伊朗这帮军头在乱搞。
霍尔木兹冲击波!美国撤销伊朗石油销售豁免,美军称开始对伊发动强力打击
HAKUBUN
06-24
损人不利己
小作文带崩韩股?韩媒:国会议员讨论将股票、房地产未实现收益纳入综合征税
HAKUBUN
06-21
伊朗这种新闻,是对内的。
伊朗武装部队表示霍尔木兹海峡已关闭,美军称暂未观察到伊朗关闭霍尔木兹海峡
HAKUBUN
06-18
以色列千万不要再搞事情了。
消息人士:美伊磋商提前签署相关协议
HAKUBUN
06-06
在某些地区,这算是损害商业信誉,商品声誉罪吧
“黑色星期五”的导火索?Semianalysis报告“重创”美光
HAKUBUN
06-05
伊朗海军用什么神器能够驱离美国驱逐舰?
伊朗海军称对美国驱逐舰开火,将其驱离阿曼湾
去老虎APP查看更多动态
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14:05","market":"us","language":"zh","title":"段永平继续加仓拼多多,大幅减持英伟达、谷歌","url":"https://stock-news.laohu8.com/highlight/detail?id=2659712040","media":"格隆汇","summary":"截至二季度末,由段永平管理的H&H International Investment基金总持仓市值约191亿美元,约合人民币1370亿元,较去年四季度末的200亿美元有所下降。二季度,段永平继续增持拼","content":"<html><head></head><body><p style=\"text-align: left;\">截至二季度末,由段永平管理的H&H International Investment基金总持仓市值约191亿美元,约合人民币1370亿元,较去年四季度末的200亿美元有所下降。二季度,段永平继续增持拼多多,重新买入阿里巴巴,同时减持苹果、英伟达、谷歌、微软等,清仓台积电、CrowdStrike等个股。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4e3e2ce5c89e76bf7905b8f7a825d0fc\" data-align=\"center\" tg-width=\"840\" tg-height=\"717\"/><span></span></p><p style=\"text-align: left;\">具体来看,截至6月30日,H&H International Investment共持有18只股票。苹果仍为第一大重仓股,持仓市值约78.4亿美元,占投资组合41.05%;伯克希尔B股位列第二,持仓市值约46.2亿美元,占比24.18%;拼多多以约19.1亿美元的持仓市值排名第三,占投资组合9.99%;特斯拉和英伟达则分列第四、第五位。</p><p style=\"text-align: left;\">从调仓动作来看,拼多多是段永平二季度加仓力度最大的标的,期间增持527.38万股,持股数量增至2502.21万股,较一季度末增长26.71%。截至二季度末,拼多多已稳居其第三大重仓股,持仓占比接近10%。</p><p style=\"text-align: left;\">近年来,段永平持续看好拼多多,并多次加码布局,使其持仓规模仅次于苹果和伯克希尔。除继续增持拼多多外,他还于二季度重新建仓阿里巴巴,新买入30.14万股,期末持仓市值约2893万美元。</p><p style=\"text-align: left;\"></p></body></html>","source":"live_gelonghui","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>段永平继续加仓拼多多,大幅减持英伟达、谷歌</title>\n<style 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}\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n段永平继续加仓拼多多,大幅减持英伟达、谷歌\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-08-15 14:05 北京时间 <a href=https://www.gelonghui.com/rss/live/live.xml><strong>格隆汇</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>截至二季度末,由段永平管理的H&H International Investment基金总持仓市值约191亿美元,约合人民币1370亿元,较去年四季度末的200亿美元有所下降。二季度,段永平继续增持拼多多,重新买入阿里巴巴,同时减持苹果、英伟达、谷歌、微软等,清仓台积电、CrowdStrike等个股。具体来看,截至6月30日,H&H International Investment共持有18只股票...</p>\n\n<a href=\"https://www.gelonghui.com/rss/live/live.xml\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/893c4259212e1f56adaa2aed6196983d","relate_stocks":{"LU2168563687.JPY":"AZ ALLOCATION - TREND \"AAZ\" (JPYHDG) ACC","LU1935042991.SGD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME \"AA\" (SGDHDG) INC","CNEQ":"Alger Concentrated Equity ETF","LU1778281490.HKD":"HSBC GIF GLOBAL LOWER CARBON EQUITY \"AD\" (HKD) INC","LU2168564149.EUR":"AZ ALLOCATION - TREND \"BAZ\" (EUR) ACC","IE000W1ABFV2.USD":"PIMCO BALANCED INCOME AND GROWTH \"R\" (USD) INC","LU0203202063.USD":"AB SICAV I - ALL MARKET INCOME PORTFOLIO \"A2X\" (USD) ACC","LU0823426308.USD":"法巴中国股票基金","LU0264606111.USD":"Janus Henderson Horizon Asian Dividend Income A2 USD","FCOM":"Fidelity MSCI Communication Services Index ETF","VOX":"电信业ETF-Vanguard","LU1981816686.USD":"EASTSPRING INV ASIAN MULTI FACTOR EQUITY \"A\" (USD) ACC","LU0266013472.USD":"AXA WF - Framlington 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Investment共持有18只股票。苹果仍为第一大重仓股,持仓市值约78.4亿美元,占投资组合41.05%;伯克希尔B股位列第二,持仓市值约46.2亿美元,占比24.18%;拼多多以约19.1亿美元的持仓市值排名第三,占投资组合9.99%;特斯拉和英伟达则分列第四、第五位。从调仓动作来看,拼多多是段永平二季度加仓力度最大的标的,期间增持527.38万股,持股数量增至2502.21万股,较一季度末增长26.71%。截至二季度末,拼多多已稳居其第三大重仓股,持仓占比接近10%。近年来,段永平持续看好拼多多,并多次加码布局,使其持仓规模仅次于苹果和伯克希尔。除继续增持拼多多外,他还于二季度重新建仓阿里巴巴,新买入30.14万股,期末持仓市值约2893万美元。","news_type":1,"symbols_score_info":{"TRFK":0.6,"AVXC":0.6,"NVDL":0.6,"BABA":1.85,"GOOGL":1.9,"03145":0.6,"CGNG":0.6,"NVD3.UK":0.6,"SPTE":0.6,"NVDX":0.6,"SHOC":0.6,"NVDS.UK":0.6,"LTL":0.6,"ESIM":0.6,"BLOX":0.6,"FDTX":0.6,"NULC":0.6,"ASIA":0.6,"AGOX":0.6,"SMHX":0.6,"NVD2.UK":0.6,"CGDG":0.6,"CHAT":0.6,"BAI":0.6,"BBYY":0.6,"CGIC":0.6,"NVII":0.6,"2NVD.UK":0.6,"NVDU":0.6,"TEK":0.6,"CLSE":0.6,"TSMG":0.6,"FCOM":0.6,"JGRO":0.6,"NVDB":0.6,"SOXY":0.6,"TTEQ":0.6,"GAMR":0.6,"ANV":0.6,"SOXQ":0.6,"KPDD":0.6,"CGGO":0.6,"EFIV":0.6,"CHPX":0.6,"EMM":0.6,"CQTM":0.6,"KWEB":0.6,"TSMY":0.6,"ABFL":0.6,"USXF":0.6,"AVEM":0.6,"USD":0.6,"OGIG":0.6,"METV":0.6,"DIPS":0.6,"SNVD.UK":0.6,"ADVE":0.6,"GOOP":0.6,"XLK":0.6,"09988":1.85,"NVDS":0.6,"TRUC":0.6,"TINS":0.6,"IXN":0.6,"CLIX":0.6,"KBAB":0.6,"ROM":0.6,"AIQ":0.6,"AIFD":0.6,"SMH":0.6,"ALBmain":0.6,"07388":0.6,"TYLG":0.6,"AIPI":0.6,"3NVD.UK":0.6,"SPWO":0.6,"TSMU":0.6,"CMAG":0.6,"NVIW.SI":0.6,"WUGI":0.6,"NVDY":0.6,"GOOW":0.6,"FTEC":0.6,"XLC":0.6,"NVDG":0.6,"BABU":0.6,"NVYY":0.6,"CWI":0.6,"TTXU":0.6,"VGT":0.6,"MEMX":0.6,"CORO":0.6,"FDNI":0.6,"ESLG":0.6,"PDD":1.97,"NVDA":1.92,"CNEQ":0.6,"THMR":0.6,"GGLS":0.6,"NVDD":0.6,"NVDW":0.6,"ESUM":0.6,"BABO":0.6,"SNVDAmain":0.6,"VOX":0.6,"DRAG":0.6,"NVD":0.6,"GOOX":0.6,"SNPE":0.6,"TSMX":0.6,"GOU":0.6,"KNOW":0.6,"TSMZ":0.6,"XDAT":0.6,"PDDL":0.6,"WISE":0.6,"IETC":0.6,"NVDO":0.6,"LFGY":0.6,"AVSE":0.6,"EMC":0.6,"GOOY":0.6,"UMMA":0.6,"GXPC":0.6,"07788":0.6,"GGLL":0.6,"ARTY":0.6,"SKYY":0.6,"ILDR":0.6,"STSM":0.6,"NVDQ":0.6,"VT":0.6,"ONLN":0.6,"TSM":1.84,"BABX":0.6,"FAI":0.6,"SOXX":0.6,"BABW":0.6}},"isVote":1,"tweetType":1,"viewCount":125,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":597103176238024,"gmtCreate":1786795305492,"gmtModify":1786796631849,"author":{"id":"4228385961123602","authorId":"4228385961123602","name":"HAKUBUN","avatar":"https://static.tigerbbs.com/97e39f638d455bd5828c866ff7fee9d7","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4228385961123602","idStr":"4228385961123602"},"themes":[],"title":"","htmlText":"他要是没加杠杆就赚翻了。不过我也很倒霉, 美联储议息会议前一天清仓的 ,这肉割的,结结实实的","listText":"他要是没加杠杆就赚翻了。不过我也很倒霉, 美联储议息会议前一天清仓的 ,这肉割的,结结实实的","text":"他要是没加杠杆就赚翻了。不过我也很倒霉, 美联储议息会议前一天清仓的 ,这肉割的,结结实实的","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/597103176238024","repostId":"2659772127","repostType":2,"repost":{"id":"2659772127","kind":"highlight","weMediaInfo":{"introduction":"追踪全球财经热点,精选影响您财富的资讯,投资理财必备神器!","home_visible":1,"media_name":"华尔街见闻","id":"1084101182","head_image":"https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e"},"pubTimestamp":1786773040,"share":"https://www.laohunote.com/m/news/2659772127?lang=zh_CN&edition=full","pubTime":"2026-08-15 13:50","market":"us","language":"zh","title":"爆仓前最后一个月,“AI股神”加仓美光、闪迪","url":"https://stock-news.laohu8.com/highlight/detail?id=2659772127","media":"华尔街见闻","summary":"据监管文件显示,Situational Awareness在今年二季度大幅增持了存储芯片企业美光科技和闪迪,两家公司持仓合计约110亿美元,占该基金当时净资产的约四分之一。与此同时,该基金还削减了对英伟达、博通及超威半导体的期权空头头寸。","content":"<html><head></head><body><p style=\"text-align: left;\">近期Situational Awareness“折戟杠杆”震惊资本市场,最新监管文件显示,这家由“AI股神”掌管的人工智能对冲基金,在崩盘前夕仍在大举买入半导体股票。</p><p style=\"text-align: left;\">据监管文件显示,<strong>Situational Awareness在今年二季度大幅增持了存储芯片企业<a href=\"https://laohu8.com/S/MU\">美光科技</a>和<a href=\"https://laohu8.com/S/SNDK\">闪迪</a>,两家公司持仓合计约110亿美元,占该基金当时净资产的约四分之一。</strong></p><p style=\"text-align: left;\"><strong>与此同时,该基金还削减了对<a href=\"https://laohu8.com/S/NVDA\">英伟达</a>、<a href=\"https://laohu8.com/S/AVGO\">博通</a>及超威半导体的期权空头头寸。</strong></p><p style=\"text-align: left;\">然而,上述布局随后遭遇重创。上月AI相关股票急剧抛售期间,美光股价下跌29%,闪迪跌幅更深达47%。科技投资头寸的快速贬值迫使这家高杠杆基金被动出售公众股票,肯·格里芬旗下城堡投资(Citadel)最终接盘了该基金持有的大量AI股票。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3222f421885bf71f429582e8ebe25a62\" data-align=\"center\" tg-width=\"1792\" tg-height=\"1180\"/><span></span></p><h2 style=\"text-align: left;\">激进加仓存储芯片,同期削减对冲头寸</h2><p style=\"text-align: left;\">Situational Awareness由前OpenAI研究员Leopold Aschenbrenner创立,定位于押注人工智能基础设施浪潮。然而,AI相关股票上月遭遇大规模集中抛售,存储芯片首当其冲。</p><p style=\"text-align: left;\">二季度文件显示,该基金在增持美光和闪迪的同时,还削减了对英伟达、<a href=\"https://laohu8.com/S/600455\">博通</a>以及<a href=\"https://laohu8.com/S/SMCI\">超微</a>半导体的期权空头头寸。这一操作表明,基金管理层彼时对半导体板块整体持更为乐观的判断,主动降低了对冲敞口,进一步加大了净多头暴露。</p><p style=\"text-align: left;\">对于Situational Awareness而言,高杠杆叠加高度集中的持仓结构,使得这场下跌的冲击被成倍放大。110亿美元的集中持仓仅覆盖两只个股,在流动性快速收紧、净值大幅回撤的情形下,基金几乎没有腾挪空间。该基金随即被迫启动公开市场股票的强制平仓。</p><p style=\"text-align: left;\">值得注意的是,Citadel旗舰基金Wellington在7月份大涨5.9%,主要驱动力来自该公司以约九折折扣收购了Situational Awareness公开股票持仓这笔闪电交易。在7月最后一周交易启动之前,Wellington当月涨幅仅约0.45%,折扣收购带来的收益几乎是即时兑现。</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>爆仓前最后一个月,“AI股神”加仓美光、闪迪</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; 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height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n爆仓前最后一个月,“AI股神”加仓美光、闪迪\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1084101182\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">华尔街见闻 </p>\n<p class=\"h-time\">2026-08-15 13:50</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p style=\"text-align: left;\">近期Situational Awareness“折戟杠杆”震惊资本市场,最新监管文件显示,这家由“AI股神”掌管的人工智能对冲基金,在崩盘前夕仍在大举买入半导体股票。</p><p style=\"text-align: left;\">据监管文件显示,<strong>Situational Awareness在今年二季度大幅增持了存储芯片企业<a href=\"https://laohu8.com/S/MU\">美光科技</a>和<a href=\"https://laohu8.com/S/SNDK\">闪迪</a>,两家公司持仓合计约110亿美元,占该基金当时净资产的约四分之一。</strong></p><p style=\"text-align: left;\"><strong>与此同时,该基金还削减了对<a href=\"https://laohu8.com/S/NVDA\">英伟达</a>、<a href=\"https://laohu8.com/S/AVGO\">博通</a>及超威半导体的期权空头头寸。</strong></p><p style=\"text-align: left;\">然而,上述布局随后遭遇重创。上月AI相关股票急剧抛售期间,美光股价下跌29%,闪迪跌幅更深达47%。科技投资头寸的快速贬值迫使这家高杠杆基金被动出售公众股票,肯·格里芬旗下城堡投资(Citadel)最终接盘了该基金持有的大量AI股票。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3222f421885bf71f429582e8ebe25a62\" data-align=\"center\" tg-width=\"1792\" tg-height=\"1180\"/><span></span></p><h2 style=\"text-align: left;\">激进加仓存储芯片,同期削减对冲头寸</h2><p style=\"text-align: left;\">Situational Awareness由前OpenAI研究员Leopold Aschenbrenner创立,定位于押注人工智能基础设施浪潮。然而,AI相关股票上月遭遇大规模集中抛售,存储芯片首当其冲。</p><p style=\"text-align: left;\">二季度文件显示,该基金在增持美光和闪迪的同时,还削减了对英伟达、<a href=\"https://laohu8.com/S/600455\">博通</a>以及<a href=\"https://laohu8.com/S/SMCI\">超微</a>半导体的期权空头头寸。这一操作表明,基金管理层彼时对半导体板块整体持更为乐观的判断,主动降低了对冲敞口,进一步加大了净多头暴露。</p><p style=\"text-align: left;\">对于Situational Awareness而言,高杠杆叠加高度集中的持仓结构,使得这场下跌的冲击被成倍放大。110亿美元的集中持仓仅覆盖两只个股,在流动性快速收紧、净值大幅回撤的情形下,基金几乎没有腾挪空间。该基金随即被迫启动公开市场股票的强制平仓。</p><p style=\"text-align: left;\">值得注意的是,Citadel旗舰基金Wellington在7月份大涨5.9%,主要驱动力来自该公司以约九折折扣收购了Situational Awareness公开股票持仓这笔闪电交易。在7月最后一周交易启动之前,Wellington当月涨幅仅约0.45%,折扣收购带来的收益几乎是即时兑现。</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c211ed162293b2506489bdebe2cb01ff","relate_stocks":{"BK4551":"寇图资本持仓","BK4598":"佩洛西持仓","LU0868494617.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) ACC","LU2417539215.USD":"ALLIANZ GLOBAL INCOME \"AMF\" (USD) INC","HK0000304805.HKD":"PICTET 战略收益基金 P类港元","LU0784384876.USD":"Blackrock Global Multi-Asset Income A6 USD","LU0289960550.SGD":"AB FCP I - GLOBAL EQUITY BLEND PORTFOLIO 'A' (SGD) ACC","IE00BFSS8Q28.SGD":"Janus Henderson Balanced A Inc SGD-H","LU2272731865.HKD":"ALLIANZ GLOBAL INTELLIGENT CITIES INCOME \"AM\" (HKD) INC","SGXZ31699556.SGD":"UGDP UNITED GLOBAL QUALITY GROWTH \"C\" (SGDHDG) ACC","HK0000304797.USD":"PICTET 战略收益基金 P类 美元","IETC":"iShares U.S. Tech Independence Focused ETF","LU1670628061.USD":"M&G (LUX) NORTH AMERICAN DIVIDEND \"A\" (USD) 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Awareness而言,高杠杆叠加高度集中的持仓结构,使得这场下跌的冲击被成倍放大。110亿美元的集中持仓仅覆盖两只个股,在流动性快速收紧、净值大幅回撤的情形下,基金几乎没有腾挪空间。该基金随即被迫启动公开市场股票的强制平仓。值得注意的是,Citadel旗舰基金Wellington在7月份大涨5.9%,主要驱动力来自该公司以约九折折扣收购了Situational Awareness公开股票持仓这笔闪电交易。在7月最后一周交易启动之前,Wellington当月涨幅仅约0.45%,折扣收购带来的收益几乎是即时兑现。","news_type":1,"symbols_score_info":{"SNDG":0.6,"WISE":0.6,"FTXL":0.6,"HAKY":0.6,"CGDG":0.6,"TTXU":0.6,"SNDC":0.6,"DIPS":0.6,"EGGY":0.6,"ABFL":0.6,"SNVD.UK":0.6,"TEK":0.6,"USXF":0.6,"ANV":0.6,"NVDU":0.6,"LEGR":0.6,"MUZ":0.6,"AVGO":1.85,"VT":0.6,"FSMD":0.6,"DISK":0.6,"NVYY":0.6,"SMU00main":0.6,"2NVD.UK":0.6,"CGBL":0.6,"NVDG":0.6,"NVDW":0.6,"EMSF":0.6,"SNVDAmain":0.6,"DRMY":0.6,"3NVD.UK":0.6,"ROM":0.6,"FXL":0.6,"07788":0.6,"WUGI":0.6,"MULL":0.6,"GAMR":0.6,"IETC":0.6,"AIPI":0.6,"BAI":0.6,"SNPE":0.6,"OPTZ":0.6,"PTF":0.6,"AVGU":0.6,"EFIV":0.6,"NVDY":0.6,"MUYY":0.6,"NVDL":0.6,"NVIW.SI":0.6,"USD":0.6,"NVD2.UK":0.6,"FDTX":0.6,"SNDU":0.6,"NVDX":0.6,"NVDO":0.6,"ESUM":0.6,"AVGG":0.6,"JGRO":0.6,"MU":2.1,"VGT":0.6,"NVDB":0.6,"CNEQ":0.6,"MIC":0.6,"HBMX":0.6,"AVGX":0.6,"SPTE":0.6,"AVS":0.6,"TRFK":0.6,"CLSE":0.6,"CHAT":0.6,"COWG":0.6,"NVII":0.6,"TMSL":0.6,"RULE":0.6,"FAI":0.6,"METV":0.6,"NVD":0.6,"ILDR":0.6,"NULC":0.6,"SNDQ":0.6,"CHPS":0.6,"AIQ":0.6,"AVL":0.6,"FCUS":0.6,"ARTY":0.6,"TDIV":0.6,"CIBR":0.6,"NVDS.UK":0.6,"XNTK":0.6,"SHOC":0.6,"MUU":0.6,"TTEQ":0.6,"QQQG":0.6,"FTEC":0.6,"IXN":0.6,"NVDS":0.6,"BOBP":0.6,"AGOX":0.6,"CNAV":0.6,"NVDA":1.85,"TYLG":0.6,"AIS":0.6,"SOXQ":0.6,"SMH":0.6,"ESLG":0.6,"AIFD":0.6,"LFGY":0.6,"CGGO":0.6,"MUD":0.6,"NVDD":0.6,"SMHX":0.6,"NVDQ":0.6,"07388":0.6,"XLK":0.6,"CMAG":0.6,"PSI":0.6,"SOXX":0.6,"SNDK":2.1,"NVD3.UK":0.6,"SCHA":0.6,"CHPX":0.6,"SAVGOmain":0.6,"SNXX":0.6,"AVGW":0.6,"SCHM":0.6,"WLDR":0.6,"SOXY":0.6,"THMR":0.6}},"isVote":1,"tweetType":1,"viewCount":392,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":596840083960816,"gmtCreate":1786731074418,"gmtModify":1786731076157,"author":{"id":"4228385961123602","authorId":"4228385961123602","name":"HAKUBUN","avatar":"https://static.tigerbbs.com/97e39f638d455bd5828c866ff7fee9d7","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4228385961123602","idStr":"4228385961123602"},"themes":[],"title":"","htmlText":"不信,你们为什么不做空呢?","listText":"不信,你们为什么不做空呢?","text":"不信,你们为什么不做空呢?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/596840083960816","repostId":"1118936442","repostType":2,"repost":{"id":"1118936442","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据,旨在帮助投资者理解世界,做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1786719260,"share":"https://www.laohunote.com/m/news/1118936442?lang=zh_CN&edition=full","pubTime":"2026-08-14 22:54","market":"us","language":"zh","title":"SK集团会长崔泰源:明年将是内存短缺现象最为严重的一年,将引发“芯片通胀”","url":"https://stock-news.laohu8.com/highlight/detail?id=1118936442","media":"老虎资讯综合","summary":"崔泰源将美国当地客户的需求视为关键变量,正在多方面评估以扩大公司的全球生产基地。崔泰源将当前市场形势定义为一场争夺内存芯片的“战争”。崔会长判断,明年将是内存短缺现象最为严重的一年,将引发“芯片通胀”,即半导体价格飙升的局面。为解决供应瓶颈问题,SK集团已决定进行大规模扩张,在未来5年内将内存产能提高2倍。SK海力士计划密切审视未来市场需求以及与客户公司的合作关系,以最终确定追加投资地区。","content":"<html><head></head><body><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/c87ca7fe6218ff77fa9c6650d1a1622a\" data-align=\"center\" tg-width=\"600\" tg-height=\"338\"/><span></span></p><p style=\"text-align: left;\">在人工智能(AI)半导体需求爆发导致内存供应短缺加剧的背景下,SK集团会长崔泰源对在美国建设前端半导体工厂(fab)的可能性持开放态度。崔泰源将美国当地客户的需求视为关键变量,正在多方面评估以扩大公司的全球生产基地。</p><p style=\"text-align: left;\">在当地时间8月13日接受美国CNBC采访时,崔泰源表示,公司一个多月来一直在包括美国在内的多个地区考察内存工厂选址。他特别提到,美国客户希望在本国建设晶圆厂,并表示如果客户有此意愿,愿意共同推进相关机会。目前,SK海力士正在美国印第安纳州建设后端封装厂,但处理晶圆的前端晶圆厂的具体计划尚未正式确定。</p><p style=\"text-align: left;\">崔泰源将当前市场形势定义为一场争夺内存芯片的“战争”。他分析称,所有客户都要求明年的供应量比此前水平增加近两倍,但供应未能跟上。崔会长判断,明年将是内存短缺现象最为严重的一年,将引发“芯片通胀”(Chiplation),即半导体价格飙升的局面。</p><p style=\"text-align: left;\">为解决供应瓶颈问题,SK集团已决定进行大规模扩张,在未来5年内将内存产能提高2倍。这也是在最近宣布在湖南地区建设2座新前端晶圆厂之后,集团着手确保更多选址的原因。不过,崔泰源强调,确保水、电、土地以及打造半导体生态系统是晶圆厂建设的核心前提,显示出在寻找合适地点方面的谨慎态度。</p><p style=\"text-align: left;\">对于大规模设施投资可能引发供应过剩的担忧,他提出了一套彻底基于需求的策略。其解释是,只有在存在确定需求的条件下才会推进扩产,并通过与客户签订长期供应合同(LTA)来消除不确定性。此外,他还补充说,正在引入各种能够分担风险的项目,例如成立合资企业,或以“内存即服务”(Memory as a Service)的形式提供内存。</p><p style=\"text-align: left;\">崔泰源预测,AI时代的内存周期将呈现出与过去不同的模式。这是因为过去依赖硬件设备的出货数量,而如今市场可扩展性增强,单个用户会使用多个AI代理。崔泰源强调,由于这些变化,比过去长得多的繁荣周期将持续下去,需求强劲上升的趋势短期内仍将延续。</p><p style=\"text-align: left;\">尽管目前尚未与美国政府进行直接对话,但美国商务部长等主要人物正向韩国企业施压,要求其在美国建设新的前端晶圆厂。SK海力士计划密切审视未来市场需求以及与客户公司的合作关系,以最终确定追加投资地区。</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SK集团会长崔泰源:明年将是内存短缺现象最为严重的一年,将引发“芯片通胀”</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; 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width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSK集团会长崔泰源:明年将是内存短缺现象最为严重的一年,将引发“芯片通胀”\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time\">2026-08-14 22:54</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/c87ca7fe6218ff77fa9c6650d1a1622a\" data-align=\"center\" tg-width=\"600\" tg-height=\"338\"/><span></span></p><p style=\"text-align: left;\">在人工智能(AI)半导体需求爆发导致内存供应短缺加剧的背景下,SK集团会长崔泰源对在美国建设前端半导体工厂(fab)的可能性持开放态度。崔泰源将美国当地客户的需求视为关键变量,正在多方面评估以扩大公司的全球生产基地。</p><p style=\"text-align: left;\">在当地时间8月13日接受美国CNBC采访时,崔泰源表示,公司一个多月来一直在包括美国在内的多个地区考察内存工厂选址。他特别提到,美国客户希望在本国建设晶圆厂,并表示如果客户有此意愿,愿意共同推进相关机会。目前,SK海力士正在美国印第安纳州建设后端封装厂,但处理晶圆的前端晶圆厂的具体计划尚未正式确定。</p><p style=\"text-align: left;\">崔泰源将当前市场形势定义为一场争夺内存芯片的“战争”。他分析称,所有客户都要求明年的供应量比此前水平增加近两倍,但供应未能跟上。崔会长判断,明年将是内存短缺现象最为严重的一年,将引发“芯片通胀”(Chiplation),即半导体价格飙升的局面。</p><p style=\"text-align: left;\">为解决供应瓶颈问题,SK集团已决定进行大规模扩张,在未来5年内将内存产能提高2倍。这也是在最近宣布在湖南地区建设2座新前端晶圆厂之后,集团着手确保更多选址的原因。不过,崔泰源强调,确保水、电、土地以及打造半导体生态系统是晶圆厂建设的核心前提,显示出在寻找合适地点方面的谨慎态度。</p><p style=\"text-align: left;\">对于大规模设施投资可能引发供应过剩的担忧,他提出了一套彻底基于需求的策略。其解释是,只有在存在确定需求的条件下才会推进扩产,并通过与客户签订长期供应合同(LTA)来消除不确定性。此外,他还补充说,正在引入各种能够分担风险的项目,例如成立合资企业,或以“内存即服务”(Memory as a Service)的形式提供内存。</p><p style=\"text-align: left;\">崔泰源预测,AI时代的内存周期将呈现出与过去不同的模式。这是因为过去依赖硬件设备的出货数量,而如今市场可扩展性增强,单个用户会使用多个AI代理。崔泰源强调,由于这些变化,比过去长得多的繁荣周期将持续下去,需求强劲上升的趋势短期内仍将延续。</p><p style=\"text-align: left;\">尽管目前尚未与美国政府进行直接对话,但美国商务部长等主要人物正向韩国企业施压,要求其在美国建设新的前端晶圆厂。SK海力士计划密切审视未来市场需求以及与客户公司的合作关系,以最终确定追加投资地区。</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://community-static.tradeup.com/news/c87ca7fe6218ff77fa9c6650d1a1622a","relate_stocks":{"SKUU":"2倍做多海力士ETF-GraniteShares","SKHA":"Tradr 2X Long SK hynix Daily ETF","SKHU":"2倍做多海力士-ProShares","SKHX":"2倍做多海力士ETF-Leverage Shares","SKDD":"2倍做空海力士ETF-GraniteShares","07709":"南方两倍做多海力士","SK":"2倍做多海力士ETF-Corgi","SKHY":"SK海力士","HYNX":"2倍做多海力士ETF-T-REX","SKHZ":"1倍做空海力士ETF-Leverage Shares"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1118936442","content_text":"在人工智能(AI)半导体需求爆发导致内存供应短缺加剧的背景下,SK集团会长崔泰源对在美国建设前端半导体工厂(fab)的可能性持开放态度。崔泰源将美国当地客户的需求视为关键变量,正在多方面评估以扩大公司的全球生产基地。在当地时间8月13日接受美国CNBC采访时,崔泰源表示,公司一个多月来一直在包括美国在内的多个地区考察内存工厂选址。他特别提到,美国客户希望在本国建设晶圆厂,并表示如果客户有此意愿,愿意共同推进相关机会。目前,SK海力士正在美国印第安纳州建设后端封装厂,但处理晶圆的前端晶圆厂的具体计划尚未正式确定。崔泰源将当前市场形势定义为一场争夺内存芯片的“战争”。他分析称,所有客户都要求明年的供应量比此前水平增加近两倍,但供应未能跟上。崔会长判断,明年将是内存短缺现象最为严重的一年,将引发“芯片通胀”(Chiplation),即半导体价格飙升的局面。为解决供应瓶颈问题,SK集团已决定进行大规模扩张,在未来5年内将内存产能提高2倍。这也是在最近宣布在湖南地区建设2座新前端晶圆厂之后,集团着手确保更多选址的原因。不过,崔泰源强调,确保水、电、土地以及打造半导体生态系统是晶圆厂建设的核心前提,显示出在寻找合适地点方面的谨慎态度。对于大规模设施投资可能引发供应过剩的担忧,他提出了一套彻底基于需求的策略。其解释是,只有在存在确定需求的条件下才会推进扩产,并通过与客户签订长期供应合同(LTA)来消除不确定性。此外,他还补充说,正在引入各种能够分担风险的项目,例如成立合资企业,或以“内存即服务”(Memory as a Service)的形式提供内存。崔泰源预测,AI时代的内存周期将呈现出与过去不同的模式。这是因为过去依赖硬件设备的出货数量,而如今市场可扩展性增强,单个用户会使用多个AI代理。崔泰源强调,由于这些变化,比过去长得多的繁荣周期将持续下去,需求强劲上升的趋势短期内仍将延续。尽管目前尚未与美国政府进行直接对话,但美国商务部长等主要人物正向韩国企业施压,要求其在美国建设新的前端晶圆厂。SK海力士计划密切审视未来市场需求以及与客户公司的合作关系,以最终确定追加投资地区。","news_type":1,"symbols_score_info":{"SKHU":0.6,"SKHY":2,"HYNX":0.6,"SKHZ":0.6,"SK":0.6,"SKHA":0.6,"SKDD":0.6,"SKUU":0.6,"07709":0.6,"SKHX":0.6}},"isVote":1,"tweetType":1,"viewCount":171,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":594009529627696,"gmtCreate":1786038546621,"gmtModify":1786038548621,"author":{"id":"4228385961123602","authorId":"4228385961123602","name":"HAKUBUN","avatar":"https://static.tigerbbs.com/97e39f638d455bd5828c866ff7fee9d7","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4228385961123602","idStr":"4228385961123602"},"themes":[],"title":"","htmlText":"东亚藤壶又多了一个品种","listText":"东亚藤壶又多了一个品种","text":"东亚藤壶又多了一个品种","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/594009529627696","repostId":"2657656082","repostType":4,"repost":{"id":"2657656082","kind":"highlight","weMediaInfo":{"introduction":"追踪全球财经热点,精选影响您财富的资讯,投资理财必备神器!","home_visible":1,"media_name":"华尔街见闻","id":"1084101182","head_image":"https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e"},"pubTimestamp":1786035938,"share":"https://www.laohunote.com/m/news/2657656082?lang=zh_CN&edition=full","pubTime":"2026-08-07 01:05","market":"sg","language":"zh","title":"韩国严管杠杆后,本土散户涌入美国3倍ETF","url":"https://stock-news.laohu8.com/highlight/detail?id=2657656082","media":"华尔街见闻","summary":"韩国金融当局收紧单一股票杠杆ETF监管后,韩国国内交易量骤降逾九成,但高风险投资需求并未消退,而是迅速转移至美国市场。投资者正在无约束地买入倍数更高、风险更大的美国杠杆ETF产品,监管政策的实际效果面临质疑。同期,ProShares UltraPro QQQ买入规模达3.93亿美元,$特斯拉$两倍杠杆ETF净买入2.14亿美元,韩国股市三倍杠杆ETF亦录得1.31亿美元净流入。","content":"<html><head></head><body><p><strong>韩国金融当局收紧单一股票杠杆ETF监管后,韩国国内交易量骤降逾九成,但高风险投资需求并未消退,而是迅速转移至美国市场。</strong>投资者正在无约束地买入倍数更高、风险更大的美国杠杆ETF产品,监管政策的实际效果面临质疑。</p>\n<p>据韩国预托结算院数据,7月16日至8月3日期间,韩国个人投资者海外股票买入结算规模第一名为Direxion Daily Semiconductor Bull 3X(SOXL),买入结算规模高达46.36亿美元。</p>\n<p>同期,ProShares UltraPro QQQ(TQQQ)买入规模达3.93亿美元,<a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>两倍杠杆ETF(TSLL)净买入2.14亿美元,韩国股市三倍杠杆ETF(KORU)亦录得1.31亿美元净流入。</p>\n<p>这一资金流向直接挑战了监管初衷。分析人士指出,国内产品受到限制,投资者转而持有涵盖汇率风险、杠杆倍数更高的境外产品,实际承受的风险敞口不降反升,监管产生了明显的"气球效应"。</p>\n<h2><strong>韩国国内交易量骤降近九成</strong></h2>\n<p>据KRX信息数据系统,<strong>监管措施实施后,韩国国内上市的16只单一股票杠杆及反向ETF交易额从7月15日的13.04万亿韩元急跌至8月4日的1.33万亿韩元,降幅达89.8%。</strong></p>\n<p>此次监管的核心措施为大幅提高基本预托金门槛——由此前含可用证券在内的1000万韩元,调整为现金3000万韩元——同时对个人投资者设置投资上限。</p>\n<p>规制实施前一日(7月30日),个人与外国人买入交易额分别为5.54万亿韩元和4.86万亿韩元;预托金新规生效次日(7月31日)即分别骤降至4237亿韩元和1.02万亿韩元,8月4日进一步收窄至3092亿韩元和4880亿韩元。</p>\n<p>监管加码的背景在于单一股票杠杆ETF本身的结构性风险。该类产品追踪标的资产日收益率的两倍,在高波动行情下会产生所谓"负复利效应",使亏损随时间持续扩大、本金难以回收。</p>\n<p>DB证券研究员设太现(설태현)表示,单一股票杠杆产品在熊市延续时,因波动损耗效应,损失会大于基础标的,"比起情绪化地追加买入以弥补亏损,基于数据的投资策略更为必要"。</p>\n<h2><strong>资金外流:美国三倍产品成新宠</strong></h2>\n<p>国内监管趋严的同时,韩国个人投资者赴美买入杠杆产品的热情明显升温。</p>\n<p><strong>7月份,韩国个人投资者海外股票净买入规模达45.8亿美元(约6万亿韩元),为月度历史第五高;其中美国股票净买入从上月的6.3亿美元急增至46.4亿美元,SOXL、TQQQ、QLD等杠杆ETF及<a href=\"https://laohu8.com/S/SKHY\">SK海力士</a>ADR均跻身净买入榜前列。</strong></p>\n<p>值得关注的是,美国市场上的杠杆产品在风险维度上更为复杂:投资者不仅面临最高三倍的杠杆敞口,还须同步承担汇率波动风险,整体波动性显著高于国内受规管产品。</p>\n<p>地乐研究(지엘리서치)代表朴昌允(박창윤)指出,单一股票杠杆ETF最初引入的部分目的,正是将流向境外的投资需求引回国内市场,同时有助于稳定汇率。</p>\n<p>他表示,"监管在短期内连续强化,可能产生投资者重返海外杠杆产品的副作用",并建议当局在确认市场稳定效果的基础上,给予充分预告期,分阶段完善制度,以提升投资者的可预期性和政策公信力。</p>\n<h2><strong>政策实效存疑,学界呼吁重审</strong></h2>\n<p>学界对此次监管的实际效果提出明确质疑。</p>\n<p>崇实大学会计学系教授손재성表示,此次监管具有较强的"事后补救"性质,是在损失已经发生之后才出台的措施,"国内单一股票杠杆ETF波动性过高,而美国市场相对稳定,投资者向海外杠杆ETF迁移是自然结果"。</p>\n<p>他同时警告,在国内产品受限而海外产品不受约束的现行结构下,资金持续向境外集中的趋势可能难以逆转。</p>\n<p>业界亦有声音认为,监管方向有必要重新检视——在尚未观察到政策效果的情况下,接连出台追加规制,可能引发市场更大的反弹与混乱。</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>韩国严管杠杆后,本土散户涌入美国3倍ETF</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n韩国严管杠杆后,本土散户涌入美国3倍ETF\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1084101182\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">华尔街见闻 </p>\n<p class=\"h-time\">2026-08-07 01:05</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p><strong>韩国金融当局收紧单一股票杠杆ETF监管后,韩国国内交易量骤降逾九成,但高风险投资需求并未消退,而是迅速转移至美国市场。</strong>投资者正在无约束地买入倍数更高、风险更大的美国杠杆ETF产品,监管政策的实际效果面临质疑。</p>\n<p>据韩国预托结算院数据,7月16日至8月3日期间,韩国个人投资者海外股票买入结算规模第一名为Direxion Daily Semiconductor Bull 3X(SOXL),买入结算规模高达46.36亿美元。</p>\n<p>同期,ProShares UltraPro QQQ(TQQQ)买入规模达3.93亿美元,<a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>两倍杠杆ETF(TSLL)净买入2.14亿美元,韩国股市三倍杠杆ETF(KORU)亦录得1.31亿美元净流入。</p>\n<p>这一资金流向直接挑战了监管初衷。分析人士指出,国内产品受到限制,投资者转而持有涵盖汇率风险、杠杆倍数更高的境外产品,实际承受的风险敞口不降反升,监管产生了明显的"气球效应"。</p>\n<h2><strong>韩国国内交易量骤降近九成</strong></h2>\n<p>据KRX信息数据系统,<strong>监管措施实施后,韩国国内上市的16只单一股票杠杆及反向ETF交易额从7月15日的13.04万亿韩元急跌至8月4日的1.33万亿韩元,降幅达89.8%。</strong></p>\n<p>此次监管的核心措施为大幅提高基本预托金门槛——由此前含可用证券在内的1000万韩元,调整为现金3000万韩元——同时对个人投资者设置投资上限。</p>\n<p>规制实施前一日(7月30日),个人与外国人买入交易额分别为5.54万亿韩元和4.86万亿韩元;预托金新规生效次日(7月31日)即分别骤降至4237亿韩元和1.02万亿韩元,8月4日进一步收窄至3092亿韩元和4880亿韩元。</p>\n<p>监管加码的背景在于单一股票杠杆ETF本身的结构性风险。该类产品追踪标的资产日收益率的两倍,在高波动行情下会产生所谓"负复利效应",使亏损随时间持续扩大、本金难以回收。</p>\n<p>DB证券研究员设太现(설태현)表示,单一股票杠杆产品在熊市延续时,因波动损耗效应,损失会大于基础标的,"比起情绪化地追加买入以弥补亏损,基于数据的投资策略更为必要"。</p>\n<h2><strong>资金外流:美国三倍产品成新宠</strong></h2>\n<p>国内监管趋严的同时,韩国个人投资者赴美买入杠杆产品的热情明显升温。</p>\n<p><strong>7月份,韩国个人投资者海外股票净买入规模达45.8亿美元(约6万亿韩元),为月度历史第五高;其中美国股票净买入从上月的6.3亿美元急增至46.4亿美元,SOXL、TQQQ、QLD等杠杆ETF及<a href=\"https://laohu8.com/S/SKHY\">SK海力士</a>ADR均跻身净买入榜前列。</strong></p>\n<p>值得关注的是,美国市场上的杠杆产品在风险维度上更为复杂:投资者不仅面临最高三倍的杠杆敞口,还须同步承担汇率波动风险,整体波动性显著高于国内受规管产品。</p>\n<p>地乐研究(지엘리서치)代表朴昌允(박창윤)指出,单一股票杠杆ETF最初引入的部分目的,正是将流向境外的投资需求引回国内市场,同时有助于稳定汇率。</p>\n<p>他表示,"监管在短期内连续强化,可能产生投资者重返海外杠杆产品的副作用",并建议当局在确认市场稳定效果的基础上,给予充分预告期,分阶段完善制度,以提升投资者的可预期性和政策公信力。</p>\n<h2><strong>政策实效存疑,学界呼吁重审</strong></h2>\n<p>学界对此次监管的实际效果提出明确质疑。</p>\n<p>崇实大学会计学系教授손재성表示,此次监管具有较强的"事后补救"性质,是在损失已经发生之后才出台的措施,"国内单一股票杠杆ETF波动性过高,而美国市场相对稳定,投资者向海外杠杆ETF迁移是自然结果"。</p>\n<p>他同时警告,在国内产品受限而海外产品不受约束的现行结构下,资金持续向境外集中的趋势可能难以逆转。</p>\n<p>业界亦有声音认为,监管方向有必要重新检视——在尚未观察到政策效果的情况下,接连出台追加规制,可能引发市场更大的反弹与混乱。</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/2cd99b5d7e3c16025e04e65c1a70c229","relate_stocks":{"BK4588":"碎股","BK4550":"红杉资本持仓","BK4585":"ETF&股票定投概念","FDN":"First Trust Dow Jones Internet I"},"source_url":"https://wallstreetcn.com/articles/3778878","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2657656082","content_text":"韩国金融当局收紧单一股票杠杆ETF监管后,韩国国内交易量骤降逾九成,但高风险投资需求并未消退,而是迅速转移至美国市场。投资者正在无约束地买入倍数更高、风险更大的美国杠杆ETF产品,监管政策的实际效果面临质疑。\n据韩国预托结算院数据,7月16日至8月3日期间,韩国个人投资者海外股票买入结算规模第一名为Direxion Daily Semiconductor Bull 3X(SOXL),买入结算规模高达46.36亿美元。\n同期,ProShares UltraPro QQQ(TQQQ)买入规模达3.93亿美元,特斯拉两倍杠杆ETF(TSLL)净买入2.14亿美元,韩国股市三倍杠杆ETF(KORU)亦录得1.31亿美元净流入。\n这一资金流向直接挑战了监管初衷。分析人士指出,国内产品受到限制,投资者转而持有涵盖汇率风险、杠杆倍数更高的境外产品,实际承受的风险敞口不降反升,监管产生了明显的\"气球效应\"。\n韩国国内交易量骤降近九成\n据KRX信息数据系统,监管措施实施后,韩国国内上市的16只单一股票杠杆及反向ETF交易额从7月15日的13.04万亿韩元急跌至8月4日的1.33万亿韩元,降幅达89.8%。\n此次监管的核心措施为大幅提高基本预托金门槛——由此前含可用证券在内的1000万韩元,调整为现金3000万韩元——同时对个人投资者设置投资上限。\n规制实施前一日(7月30日),个人与外国人买入交易额分别为5.54万亿韩元和4.86万亿韩元;预托金新规生效次日(7月31日)即分别骤降至4237亿韩元和1.02万亿韩元,8月4日进一步收窄至3092亿韩元和4880亿韩元。\n监管加码的背景在于单一股票杠杆ETF本身的结构性风险。该类产品追踪标的资产日收益率的两倍,在高波动行情下会产生所谓\"负复利效应\",使亏损随时间持续扩大、本金难以回收。\nDB证券研究员设太现(설태현)表示,单一股票杠杆产品在熊市延续时,因波动损耗效应,损失会大于基础标的,\"比起情绪化地追加买入以弥补亏损,基于数据的投资策略更为必要\"。\n资金外流:美国三倍产品成新宠\n国内监管趋严的同时,韩国个人投资者赴美买入杠杆产品的热情明显升温。\n7月份,韩国个人投资者海外股票净买入规模达45.8亿美元(约6万亿韩元),为月度历史第五高;其中美国股票净买入从上月的6.3亿美元急增至46.4亿美元,SOXL、TQQQ、QLD等杠杆ETF及SK海力士ADR均跻身净买入榜前列。\n值得关注的是,美国市场上的杠杆产品在风险维度上更为复杂:投资者不仅面临最高三倍的杠杆敞口,还须同步承担汇率波动风险,整体波动性显著高于国内受规管产品。\n地乐研究(지엘리서치)代表朴昌允(박창윤)指出,单一股票杠杆ETF最初引入的部分目的,正是将流向境外的投资需求引回国内市场,同时有助于稳定汇率。\n他表示,\"监管在短期内连续强化,可能产生投资者重返海外杠杆产品的副作用\",并建议当局在确认市场稳定效果的基础上,给予充分预告期,分阶段完善制度,以提升投资者的可预期性和政策公信力。\n政策实效存疑,学界呼吁重审\n学界对此次监管的实际效果提出明确质疑。\n崇实大学会计学系教授손재성表示,此次监管具有较强的\"事后补救\"性质,是在损失已经发生之后才出台的措施,\"国内单一股票杠杆ETF波动性过高,而美国市场相对稳定,投资者向海外杠杆ETF迁移是自然结果\"。\n他同时警告,在国内产品受限而海外产品不受约束的现行结构下,资金持续向境外集中的趋势可能难以逆转。\n业界亦有声音认为,监管方向有必要重新检视——在尚未观察到政策效果的情况下,接连出台追加规制,可能引发市场更大的反弹与混乱。","news_type":1,"symbols_score_info":{"FDN":1.5}},"isVote":1,"tweetType":1,"viewCount":415,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":593496637023400,"gmtCreate":1785906029190,"gmtModify":1785906031362,"author":{"id":"4228385961123602","authorId":"4228385961123602","name":"HAKUBUN","avatar":"https://static.tigerbbs.com/97e39f638d455bd5828c866ff7fee9d7","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4228385961123602","idStr":"4228385961123602"},"themes":[],"title":"","htmlText":"华尔街的擦屁股纸,泡沫太多的时候擦一下,用完就扔了","listText":"华尔街的擦屁股纸,泡沫太多的时候擦一下,用完就扔了","text":"华尔街的擦屁股纸,泡沫太多的时候擦一下,用完就扔了","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/593496637023400","repostId":"1108282527","repostType":4,"repost":{"id":"1108282527","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据,旨在帮助投资者理解世界,做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1785890794,"share":"https://www.laohunote.com/m/news/1108282527?lang=zh_CN&edition=full","pubTime":"2026-08-05 08:46","market":"us","language":"zh","title":"《大空头》原型Michael Burry 押注美股反弹将结束:我们接近一个重大顶部,可能出现类似1987年的暴跌","url":"https://stock-news.laohu8.com/highlight/detail?id=1108282527","media":"老虎资讯综合","summary":"重点伯里周二在Substack上发文表示:“我仍然认为,我们有可能已经接近一个重大顶部,并且可能出现类似1987年的下跌。”因电影《大空头》而闻名的迈克尔·伯里,即使标普500指数飙升至历史新高,仍坚持自己的看空押注,并警告称,这轮上涨行情最终仍可能演变成类似1987年股市崩盘那样的剧烈抛售。他表示,市场的上涨正在形成一种自我强化的循环,随着波动率下降,系统性投资者会增加市场敞口,从而进一步推动市场上涨。","content":"<html><head></head><body><h2 style=\"text-align: left;\">重点</h2><ul><li><p style=\"text-align: left;\">伯里周二在Substack上发文表示:“我仍然认为,我们有可能已经接近一个重大顶部,并且可能出现类似1987年的下跌。”</p></li><li><p style=\"text-align: left;\">标普500指数周二上涨1.9%,创下自6月以来首次历史新高收盘。企业盈利好于预期以及油价再次下跌推动了市场上涨。</p></li></ul><p style=\"text-align: left;\">因电影《大空头(<span>The Big Short</span>)》而闻名的迈克尔·伯里(<span>Michael Burry</span>),即使标普500指数飙升至历史新高,仍坚持自己的看空押注,并警告称,这轮上涨行情最终仍可能演变成类似1987年股市崩盘那样的剧烈抛售。</p><p style=\"text-align: left;\">伯里周二在Substack上发文表示:“我仍然认为,我们有可能已经接近一个重大顶部,并且可能出现类似1987年的下跌,但标普500指数创出新高,很可能会吸引新的资金进入市场。”</p><p style=\"text-align: left;\"><strong>标普500指数</strong>周二上涨1.9%,创下自6月以来首次历史新高收盘。企业盈利强于预期,同时油价再次下跌,市场对<strong>霍尔木兹海峡</strong>将重新向海运开放的希望升温,这些因素共同推动了股市上涨。</p><p style=\"text-align: left;\">科技股占比较高的<strong>纳斯达克综合指数</strong>大涨2.7%,使其仅在本周前两个交易日的累计涨幅就接近5%。</p><p style=\"text-align: left;\">伯里一直是华尔街对人工智能热潮最直言不讳的怀疑者之一。他认为,当前对人工智能基础设施的需求,很大程度上是由一些最终可能无法持续的融资安排推动的。</p><p style=\"text-align: left;\">他表示,市场的上涨正在形成一种<strong>自我强化的循环</strong>,随着波动率下降,系统性投资者会增加市场敞口,从而进一步推动市场上涨。</p><p style=\"text-align: left;\">他写道:“记住,市场在波动率下降的情况下上涨,会迫使波动率目标型基金提高杠杆,同时也会让其他动量策略的杠杆资金开始发挥作用。”</p><p style=\"text-align: left;\">面对市场持续上涨,伯里表示,他仍然持有以下标的的<strong>空头头寸</strong>:</p><ul><li><p style=\"text-align: left;\"><strong>iShares半导体ETF(SOXX)</strong></p></li><li><p style=\"text-align: left;\"><strong>美光科技(Micron)</strong></p></li><li><p style=\"text-align: left;\"><strong>英伟达(Nvidia)</strong></p></li><li><p style=\"text-align: left;\"><strong>卡特彼勒(Caterpillar)</strong></p></li><li><p style=\"text-align: left;\"><strong>Palantir</strong></p></li><li><p style=\"text-align: left;\"><strong>特斯拉(Tesla)</strong></p></li><li><p style=\"text-align: left;\"><strong>应用材料(Applied Materials)</strong></p></li></ul><p style=\"text-align: left;\">伯里表示,他仍然对这些空头头寸的长期判断充满信心。不过,他补充说,如果这些交易明显朝着对他不利的方向发展,他会选择止损。</p><p style=\"text-align: left;\">他说,目前这些空头头寸<strong>除了做空英伟达之外,其余全部仍处于盈利状态</strong>。</p><p style=\"text-align: left;\">伯里写道:“再次强调,做空并不适合所有人。我必须做空,但大多数人不应该这么做。”</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>《大空头》原型Michael Burry 押注美股反弹将结束:我们接近一个重大顶部,可能出现类似1987年的暴跌</title>\n<style 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margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n《大空头》原型Michael Burry 押注美股反弹将结束:我们接近一个重大顶部,可能出现类似1987年的暴跌\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time\">2026-08-05 08:46</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><h2 style=\"text-align: left;\">重点</h2><ul><li><p style=\"text-align: left;\">伯里周二在Substack上发文表示:“我仍然认为,我们有可能已经接近一个重大顶部,并且可能出现类似1987年的下跌。”</p></li><li><p style=\"text-align: left;\">标普500指数周二上涨1.9%,创下自6月以来首次历史新高收盘。企业盈利好于预期以及油价再次下跌推动了市场上涨。</p></li></ul><p style=\"text-align: left;\">因电影《大空头(<span>The Big Short</span>)》而闻名的迈克尔·伯里(<span>Michael Burry</span>),即使标普500指数飙升至历史新高,仍坚持自己的看空押注,并警告称,这轮上涨行情最终仍可能演变成类似1987年股市崩盘那样的剧烈抛售。</p><p style=\"text-align: left;\">伯里周二在Substack上发文表示:“我仍然认为,我们有可能已经接近一个重大顶部,并且可能出现类似1987年的下跌,但标普500指数创出新高,很可能会吸引新的资金进入市场。”</p><p style=\"text-align: left;\"><strong>标普500指数</strong>周二上涨1.9%,创下自6月以来首次历史新高收盘。企业盈利强于预期,同时油价再次下跌,市场对<strong>霍尔木兹海峡</strong>将重新向海运开放的希望升温,这些因素共同推动了股市上涨。</p><p style=\"text-align: left;\">科技股占比较高的<strong>纳斯达克综合指数</strong>大涨2.7%,使其仅在本周前两个交易日的累计涨幅就接近5%。</p><p style=\"text-align: left;\">伯里一直是华尔街对人工智能热潮最直言不讳的怀疑者之一。他认为,当前对人工智能基础设施的需求,很大程度上是由一些最终可能无法持续的融资安排推动的。</p><p style=\"text-align: left;\">他表示,市场的上涨正在形成一种<strong>自我强化的循环</strong>,随着波动率下降,系统性投资者会增加市场敞口,从而进一步推动市场上涨。</p><p style=\"text-align: left;\">他写道:“记住,市场在波动率下降的情况下上涨,会迫使波动率目标型基金提高杠杆,同时也会让其他动量策略的杠杆资金开始发挥作用。”</p><p style=\"text-align: left;\">面对市场持续上涨,伯里表示,他仍然持有以下标的的<strong>空头头寸</strong>:</p><ul><li><p style=\"text-align: left;\"><strong>iShares半导体ETF(SOXX)</strong></p></li><li><p style=\"text-align: left;\"><strong>美光科技(Micron)</strong></p></li><li><p style=\"text-align: left;\"><strong>英伟达(Nvidia)</strong></p></li><li><p style=\"text-align: left;\"><strong>卡特彼勒(Caterpillar)</strong></p></li><li><p style=\"text-align: left;\"><strong>Palantir</strong></p></li><li><p style=\"text-align: left;\"><strong>特斯拉(Tesla)</strong></p></li><li><p style=\"text-align: left;\"><strong>应用材料(Applied Materials)</strong></p></li></ul><p style=\"text-align: left;\">伯里表示,他仍然对这些空头头寸的长期判断充满信心。不过,他补充说,如果这些交易明显朝着对他不利的方向发展,他会选择止损。</p><p style=\"text-align: left;\">他说,目前这些空头头寸<strong>除了做空英伟达之外,其余全部仍处于盈利状态</strong>。</p><p style=\"text-align: left;\">伯里写道:“再次强调,做空并不适合所有人。我必须做空,但大多数人不应该这么做。”</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://community-static.tradeup.com/news/ec1b39b22a82612ecf8be42d25d85963","relate_stocks":{"TSDD":"2倍做空TSLA ETF-GraniteShares","07366":"南方两倍做空特斯拉","TSL":"1.25倍做多TSLA ETF-GraniteShares","CRSH":"做空TSLA 期权收益策略ETF-YieldMax","PLTA":"ProShares Ultra PLTR ETF","NVDX":"2倍做多NVDA ETF-T-Rex","PLYY":"GraniteShares YieldBOOST PLTR ETF","PLTR":"Palantir Technologies Inc.","MU":"美光科技","TSLZ":"2倍做空TSLA ETF-T-Rex","TLA":"GraniteShares Autocallable TSLA ETF","TESL":"Simplify Volt TSLA Revolution ETF","NVDA":"英伟达","TSYY":"收益增强TSLA ETF-GraniteShares","NVDY":"NVDA期权收益策略ETF-YieldMax","TSLG":"2倍做多TSLA ETF-Leverage Shares","PLTD":"1倍做空PLTR ETF-Direxion","NVDO":"2倍上限加速NVDA ETF-Leverage Shares","07388":"南方两倍做空英伟达","TEST":"YieldMax TSLA Performance & Distribution Target 25 ETF","NVD":"2倍做空NVDA ETF-GraniteShares","PLOO":"2倍上限加速PLTR ETF-Leverage 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Burry),即使标普500指数飙升至历史新高,仍坚持自己的看空押注,并警告称,这轮上涨行情最终仍可能演变成类似1987年股市崩盘那样的剧烈抛售。伯里周二在Substack上发文表示:“我仍然认为,我们有可能已经接近一个重大顶部,并且可能出现类似1987年的下跌,但标普500指数创出新高,很可能会吸引新的资金进入市场。”标普500指数周二上涨1.9%,创下自6月以来首次历史新高收盘。企业盈利强于预期,同时油价再次下跌,市场对霍尔木兹海峡将重新向海运开放的希望升温,这些因素共同推动了股市上涨。科技股占比较高的纳斯达克综合指数大涨2.7%,使其仅在本周前两个交易日的累计涨幅就接近5%。伯里一直是华尔街对人工智能热潮最直言不讳的怀疑者之一。他认为,当前对人工智能基础设施的需求,很大程度上是由一些最终可能无法持续的融资安排推动的。他表示,市场的上涨正在形成一种自我强化的循环,随着波动率下降,系统性投资者会增加市场敞口,从而进一步推动市场上涨。他写道:“记住,市场在波动率下降的情况下上涨,会迫使波动率目标型基金提高杠杆,同时也会让其他动量策略的杠杆资金开始发挥作用。”面对市场持续上涨,伯里表示,他仍然持有以下标的的空头头寸:iShares半导体ETF(SOXX)美光科技(Micron)英伟达(Nvidia)卡特彼勒(Caterpillar)Palantir特斯拉(Tesla)应用材料(Applied Materials)伯里表示,他仍然对这些空头头寸的长期判断充满信心。不过,他补充说,如果这些交易明显朝着对他不利的方向发展,他会选择止损。他说,目前这些空头头寸除了做空英伟达之外,其余全部仍处于盈利状态。伯里写道:“再次强调,做空并不适合所有人。我必须做空,但大多数人不应该这么做。”","news_type":1,"symbols_score_info":{"PLOO":0.6,"SOXX":2,"NVDA":2,"TSLT":0.6,"07788":0.6,"NVDW":0.6,"TLA":0.6,"TSLW":0.6,"TSLA":2,"NVDL":0.6,"TSLS":0.6,"TSYY":0.6,"NVDQ":0.6,"NVDU":0.6,"TSLL":0.6,"TSDD":0.6,"09766":0.6,"MUYY":0.6,"TSLO":0.6,"07388":0.6,"NVYY":0.6,"TSLI":0.6,"NVDG":0.6,"PLTU":0.6,"PLYY":0.6,"MIC":0.6,"NVDY":0.6,"NVII":0.6,"PLTR":2,"PLTZ":0.6,"DIPS":0.6,"NVDS":0.6,"TSL":0.6,"TSLY":0.6,"CRSH":0.6,"07366":0.6,"ANV":0.6,"TSLP":0.6,"07766":0.6,"PLTI":0.6,"NVDD":0.6,"TESL":0.6,"09366":0.6,"MUU":0.6,"TSII":0.6,"AMAT":2,"MUD":0.6,"PLTG":0.6,"PLTA":0.6,"TSLG":0.6,"PLTW":0.6,"NVDX":0.6,"MULL":0.6,"PLTY":0.6,"TEST":0.6,"TSLR":0.6,"PLTD":0.6,"MUZ":0.6,"PTIR":0.6,"MU":2,"NVD":0.6,"NVDB":0.6,"TSLZ":0.6,"NVDO":0.6,"TSLQ":0.6,"CAT":2}},"isVote":1,"tweetType":1,"viewCount":423,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":591029967709440,"gmtCreate":1785296132156,"gmtModify":1785296134260,"author":{"id":"4228385961123602","authorId":"4228385961123602","name":"HAKUBUN","avatar":"https://static.tigerbbs.com/97e39f638d455bd5828c866ff7fee9d7","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4228385961123602","idStr":"4228385961123602"},"themes":[],"title":"","htmlText":"这种对利率的未知恐惧,已经起到一定程度的加息作用了。","listText":"这种对利率的未知恐惧,已经起到一定程度的加息作用了。","text":"这种对利率的未知恐惧,已经起到一定程度的加息作用了。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/591029967709440","repostId":"1101404339","repostType":2,"repost":{"id":"1101404339","kind":"news","weMediaInfo":{"introduction":"港股挖掘机将每天为您推送最具价值的港股、美股、A股投资资讯!第一时间把握全球政策动向,先人一步了解主流资金流向,监测主力行踪,解读公司公告,追踪活跃个股,让您畅享投资财富盛宴!","home_visible":1,"media_name":"智通财经APP","id":"12","head_image":"https://static.tigerbbs.com/361f7f1ca0d64e919035653d64c723ab"},"pubTimestamp":1785288398,"share":"https://www.laohunote.com/m/news/1101404339?lang=zh_CN&edition=full","pubTime":"2026-07-29 09:26","market":"us","language":"zh","title":"警惕美联储今夜“突袭加息”!多家华尔街机构拉响警报,交易员历史性“焦虑对冲”","url":"https://stock-news.laohu8.com/highlight/detail?id=1101404339","media":"智通财经APP","summary":"美联储即将公布政策决定,债券交易员们情绪紧张,尽管大多数人预测利率不会改变,但一些专家预计利率将会上调。自5月22日上任以来,沃什彻底颠覆了美联储的沟通范式。他成立多个工作组重新评估美联储的沟通机制、通胀框架和资产负债表管理。Flight认为市场再次低估了美联储政策立场转向鹰派的程度,“本周加息将明确结束前瞻性指引时代”。机构对76位经济学家的调查显示,所有受访者均预计美联储将维持利率不变。","content":"<html><head></head><body><blockquote><p>美联储即将公布政策决定,债券交易员们情绪紧张,尽管大多数人预测利率不会改变,但一些专家预计利率将会上调。</p></blockquote><p style=\"text-align: justify;\">美联储主席凯文·沃什将于北京时间周四凌晨2点公布他上任以来的第二次利率决议时,全球资本市场正屏息凝视一个前所未有的悬念。就在一个月前,市场还近乎笃定7月将按兵不动;而此刻,CME FedWatch工具显示加息25个基点的概率已从一周前的13%飙升至30%。花旗直言,这是“自2024年9月以来分歧最大的时刻” 。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e4a0a098da5accee3405532f61ed076a\" alt=\"\" title=\"\" tg-width=\"649\" tg-height=\"409\"/></p><p style=\"text-align: justify;\"><strong>更令人紧张的是,联邦基金利率期货未平仓合约在上周五达到909,714份后,周一进一步飙升至967,136份,刷新历史纪录。“以往到了会前这个时候,市场对政策结果的预期通常已高度一致”,但这次完全不同。BMO Capital Markets数据显示,自2015年以来,交易员在美联储决议前一天对最终利率决定的预测平均误差仅为2.4个基点——而这次,误差可能以“码”来计算。</strong></p><h2 id=\"id_3167133643\">从“10%”到“30%”:一场被地缘政治逆转的通胀叙事</h2><p style=\"text-align: justify;\">7月14日,美国劳工部公布6月CPI数据:CPI同比上涨3.5%,较5月的4.2%显著回落,环比下降0.4%,创2020年4月以来最大单月降幅;核心CPI环比持平,为2021年1月以来最小增幅。这份数据一度让市场相信,美联储可以继续按兵不动,通胀降温的信号一度将市场对7月加息的押注压低至约10%。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/70621edec4c2bd8da0a3a647450c6791\" alt=\"\" title=\"\" tg-width=\"634\" tg-height=\"422\"/></p><p style=\"text-align: justify;\">然而,降温的只是数据,而非趋势。美伊脆弱的停火协议破裂后,中东局势再度升级。7月24日,布伦特原油盘中突破每桶100美元,自6月美联储会议以来累计涨幅已达25%。油价上涨迅速传导至汽油和柴油价格,令消费者和美国工业的成本双双承压。与此同时,特朗普政府于7月24日宣布对60个国家征收10%至12.5%的新关税,作为最高法院此前否决“解放日”关税后的替代方案。此外,AI投资持续强劲,推动相关需求增长。三重因素叠加,扭转了市场对通胀降温的判断。</p><p style=\"text-align: justify;\">PGIM首席美国经济学家Robert Sockin将本周会议形容为“几乎是五五开”。Pantheon Macroeconomics首席经济学家Neil Dutta更直言,7月加息可以让美联储获得“未来的灵活性”,避免在9月被逼入墙角。“你必须在共识中寻找机会,我觉得这次可能就是这样的时刻,”Dutta在7月22日的报告中写道。</p><h2 id=\"id_133539095\">沃什的“沉默革命”:不提前任之路,不提供任何指引</h2><p style=\"text-align: justify;\">这场会议的最大变量,来自沃什本人。自5月22日上任以来,沃什彻底颠覆了美联储的沟通范式。他明确承诺放弃“前瞻性指引”——即不再提前向市场暗示利率路径。</p><p style=\"text-align: justify;\">在7月15日的国会听证会上,他拒绝就未来几个月的利率走势提供任何具体见解。他成立多个工作组重新评估美联储的沟通机制、通胀框架和资产负债表管理。正如Hartford Funds固定收益投资专家Joe Boyle所言:“沃什仍然是个难以捉摸的人物,他一直坚称自己对前瞻性指引不感兴趣。”</p><p style=\"text-align: justify;\">这一做法的后果正在显现——市场失去了过去十几年习以为常的“政策指南针”。R.J. O'Brien衍生品经纪人Alex Manzara指出:“过去,美联储通常不会令市场意外。临近会议时,联邦基金期货隐含利率与最终政策利率通常不会相差超过两三个基点。现在合约中突然出现了不确定性,而这带来了交易需求。”</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3fdc49cef2c40505b17941c946a0a7d4\" alt=\"\" title=\"\" tg-width=\"562\" tg-height=\"432\"/></p><p style=\"text-align: justify;\">Bianco Research总裁Jim Bianco表示 :“没有前瞻指引,意味着我们将频繁看到20%、30%、40%的概率分布”。高盛指出,投资者认为7月会议结果存在“异常大的不确定性”,原因正是美联储内部意见分歧、沃什本人立场尚不明确。</p><h2 id=\"id_323543074\">政治暗流:沃什与特朗普的微妙平衡</h2><p style=\"text-align: justify;\">这场政策博弈的背后,还隐藏着复杂的政治计算。特朗普已公开向沃什施压要求降息,称“利率应该降低”,“我们应该拥有全球最低的利率”。债券市场资深人士Harley Bassman在报告中直言,美联储应该“撕掉创可贴”,将利率提高50个基点。“加息50个基点表明市场出现了一位新警长,他并不受总统的约束”——此举既能获得抗通胀信誉,又能抵御特朗普总统降低借贷成本的压力。</p><p style=\"text-align: justify;\">SMBC日兴证券美国首席经济学家Joseph Lavorgna指出,若等到9月甚至10月才行动——第一次加息正好在中期选举之前——“那会是什么样子?他不如现在就行动”。</p><p style=\"text-align: justify;\">沃什面临的考验在于:他在国会誓言“零容忍”通胀,却迟迟不愿透露具体路径。正如贝莱德此前所指出的,沃什“认识到信誉仍然是央行最强大的政策工具”——但“这些话最终需要用行动来支撑”。</p><h2 id=\"id_2680896766\">鹰派集结:至少两张反对票在途,城堡证券押注“突袭加息”</h2><p style=\"text-align: justify;\">美联储内部的分歧同样罕见。达拉斯联储主席洛根近期明确呼吁“略微更高的利率”,认为通胀仍明显高于2%目标。克利夫兰联储主席哈马克也警告通胀压力过高。两人均拥有2026年FOMC投票权,曾在4月投下反对票,本周极可能再次反对。<strong>高盛预计至少一位委员将投赞成加息的异议票;丹斯克银行预计2至4名委员支持加息;而花旗则押注按兵不动。不过,花旗预计,若反对票超过两张,将被市场解读为更强烈的鹰派信号。机构预测本周至少会有两张反对票。</strong></p><p style=\"text-align: justify;\"><strong>更激进的信号来自华尔街。城堡证券宏观策略主管Frank Flight出人意料地改变基本预期,转而支持本周加息。</strong>他在报告中写道,加息25个基点将强化沃什恢复价格稳定的承诺,同时表明政策制定者不再依赖提前向市场“明示”每一次政策行动。Flight认为市场再次低估了美联储政策立场转向鹰派的程度,“本周加息将明确结束前瞻性指引时代”。</p><p style=\"text-align: justify;\"><strong>Wrightson ICAP首席经济学家Lou Crandall表示,美联储没有理由不加息。</strong>PGIM全球债券主管兼首席投资策略师Robert Tipp则表示,市场可能低估了周三加息的可能性。Tipp说:“他确实为加息做好了准备。现在推迟决定会增加九月份加息50个基点的可能性。”</p><p style=\"text-align: justify;\">然而,分析指出,沃什本人可能并不支持现在加息。他在7月15日的国会证词中将能源价格冲击描述为“特定价格发生的特定冲击,我们无法控制”。加息将“预判”他刚成立的工作组的结论。此外,6月CPI已出现六年来首次下降,就业增长放缓,为按兵不动提供了理由。机构对76位经济学家的调查显示,所有受访者均预计美联储将维持利率不变。</p><h2 id=\"id_3797664327\">市场屏息:无论结果如何,波动都将剧烈</h2><p style=\"text-align: justify;\">瑞银首席美国经济学家Jonathan Pingle坦言,他20年来从未像现在这样对美联储即将做出的利率决定感到如此不确定,上次感到不确定还要追溯到本·伯南克担任美联储主席的时候;<strong>他指出,沃什缺乏过往历史以及美联储官员近期的分歧进一步加剧了前景的不确定性,但他不排除沃什最终投下决定性一票的可能性。</strong>美国银行美国利率策略主管Mark Cabana的总结更为精辟:“投资者仍在试图了解美联储在沃什担任主席期间将如何运作。”</p><p style=\"text-align: justify;\"><strong>不确定性正在驱动前所未有的对冲需求。8月联邦基金期货合约的未平仓合约量在7月27日达到967,136份,刷新历史纪录。</strong>花旗交易团队已买入7月FOMC合约——该头寸将在央行维持利率不变时获利,其短期利率交易全球负责人Akshay Singal表示,“沃什一直明确表示希望市场关注数据,而当前数据尚不足以支持加息”。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/365fa0bfcd36b7feabaf2feca5d4e12e\" alt=\"\" title=\"\" tg-width=\"637\" tg-height=\"374\"/></p><p style=\"text-align: justify;\">宏观策略师Michael Ball指出:“虽然市场正与一位可能在不预告意图的情况下采取行动的美联储主席踏入未知领域,但这样的举措最终可能被投资者接受为适当政策。那将在短期内支撑风险资产”。</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n警惕美联储今夜“突袭加息”!多家华尔街机构拉响警报,交易员历史性“焦虑对冲”\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/12\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/361f7f1ca0d64e919035653d64c723ab);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">智通财经APP </p>\n<p class=\"h-time\">2026-07-29 09:26</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><blockquote><p>美联储即将公布政策决定,债券交易员们情绪紧张,尽管大多数人预测利率不会改变,但一些专家预计利率将会上调。</p></blockquote><p style=\"text-align: justify;\">美联储主席凯文·沃什将于北京时间周四凌晨2点公布他上任以来的第二次利率决议时,全球资本市场正屏息凝视一个前所未有的悬念。就在一个月前,市场还近乎笃定7月将按兵不动;而此刻,CME FedWatch工具显示加息25个基点的概率已从一周前的13%飙升至30%。花旗直言,这是“自2024年9月以来分歧最大的时刻” 。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e4a0a098da5accee3405532f61ed076a\" alt=\"\" title=\"\" tg-width=\"649\" tg-height=\"409\"/></p><p style=\"text-align: justify;\"><strong>更令人紧张的是,联邦基金利率期货未平仓合约在上周五达到909,714份后,周一进一步飙升至967,136份,刷新历史纪录。“以往到了会前这个时候,市场对政策结果的预期通常已高度一致”,但这次完全不同。BMO Capital Markets数据显示,自2015年以来,交易员在美联储决议前一天对最终利率决定的预测平均误差仅为2.4个基点——而这次,误差可能以“码”来计算。</strong></p><h2 id=\"id_3167133643\">从“10%”到“30%”:一场被地缘政治逆转的通胀叙事</h2><p style=\"text-align: justify;\">7月14日,美国劳工部公布6月CPI数据:CPI同比上涨3.5%,较5月的4.2%显著回落,环比下降0.4%,创2020年4月以来最大单月降幅;核心CPI环比持平,为2021年1月以来最小增幅。这份数据一度让市场相信,美联储可以继续按兵不动,通胀降温的信号一度将市场对7月加息的押注压低至约10%。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/70621edec4c2bd8da0a3a647450c6791\" alt=\"\" title=\"\" tg-width=\"634\" tg-height=\"422\"/></p><p style=\"text-align: justify;\">然而,降温的只是数据,而非趋势。美伊脆弱的停火协议破裂后,中东局势再度升级。7月24日,布伦特原油盘中突破每桶100美元,自6月美联储会议以来累计涨幅已达25%。油价上涨迅速传导至汽油和柴油价格,令消费者和美国工业的成本双双承压。与此同时,特朗普政府于7月24日宣布对60个国家征收10%至12.5%的新关税,作为最高法院此前否决“解放日”关税后的替代方案。此外,AI投资持续强劲,推动相关需求增长。三重因素叠加,扭转了市场对通胀降温的判断。</p><p style=\"text-align: justify;\">PGIM首席美国经济学家Robert Sockin将本周会议形容为“几乎是五五开”。Pantheon Macroeconomics首席经济学家Neil Dutta更直言,7月加息可以让美联储获得“未来的灵活性”,避免在9月被逼入墙角。“你必须在共识中寻找机会,我觉得这次可能就是这样的时刻,”Dutta在7月22日的报告中写道。</p><h2 id=\"id_133539095\">沃什的“沉默革命”:不提前任之路,不提供任何指引</h2><p style=\"text-align: justify;\">这场会议的最大变量,来自沃什本人。自5月22日上任以来,沃什彻底颠覆了美联储的沟通范式。他明确承诺放弃“前瞻性指引”——即不再提前向市场暗示利率路径。</p><p style=\"text-align: justify;\">在7月15日的国会听证会上,他拒绝就未来几个月的利率走势提供任何具体见解。他成立多个工作组重新评估美联储的沟通机制、通胀框架和资产负债表管理。正如Hartford Funds固定收益投资专家Joe Boyle所言:“沃什仍然是个难以捉摸的人物,他一直坚称自己对前瞻性指引不感兴趣。”</p><p style=\"text-align: justify;\">这一做法的后果正在显现——市场失去了过去十几年习以为常的“政策指南针”。R.J. O'Brien衍生品经纪人Alex Manzara指出:“过去,美联储通常不会令市场意外。临近会议时,联邦基金期货隐含利率与最终政策利率通常不会相差超过两三个基点。现在合约中突然出现了不确定性,而这带来了交易需求。”</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3fdc49cef2c40505b17941c946a0a7d4\" alt=\"\" title=\"\" tg-width=\"562\" tg-height=\"432\"/></p><p style=\"text-align: justify;\">Bianco Research总裁Jim Bianco表示 :“没有前瞻指引,意味着我们将频繁看到20%、30%、40%的概率分布”。高盛指出,投资者认为7月会议结果存在“异常大的不确定性”,原因正是美联储内部意见分歧、沃什本人立场尚不明确。</p><h2 id=\"id_323543074\">政治暗流:沃什与特朗普的微妙平衡</h2><p style=\"text-align: justify;\">这场政策博弈的背后,还隐藏着复杂的政治计算。特朗普已公开向沃什施压要求降息,称“利率应该降低”,“我们应该拥有全球最低的利率”。债券市场资深人士Harley Bassman在报告中直言,美联储应该“撕掉创可贴”,将利率提高50个基点。“加息50个基点表明市场出现了一位新警长,他并不受总统的约束”——此举既能获得抗通胀信誉,又能抵御特朗普总统降低借贷成本的压力。</p><p style=\"text-align: justify;\">SMBC日兴证券美国首席经济学家Joseph Lavorgna指出,若等到9月甚至10月才行动——第一次加息正好在中期选举之前——“那会是什么样子?他不如现在就行动”。</p><p style=\"text-align: justify;\">沃什面临的考验在于:他在国会誓言“零容忍”通胀,却迟迟不愿透露具体路径。正如贝莱德此前所指出的,沃什“认识到信誉仍然是央行最强大的政策工具”——但“这些话最终需要用行动来支撑”。</p><h2 id=\"id_2680896766\">鹰派集结:至少两张反对票在途,城堡证券押注“突袭加息”</h2><p style=\"text-align: justify;\">美联储内部的分歧同样罕见。达拉斯联储主席洛根近期明确呼吁“略微更高的利率”,认为通胀仍明显高于2%目标。克利夫兰联储主席哈马克也警告通胀压力过高。两人均拥有2026年FOMC投票权,曾在4月投下反对票,本周极可能再次反对。<strong>高盛预计至少一位委员将投赞成加息的异议票;丹斯克银行预计2至4名委员支持加息;而花旗则押注按兵不动。不过,花旗预计,若反对票超过两张,将被市场解读为更强烈的鹰派信号。机构预测本周至少会有两张反对票。</strong></p><p style=\"text-align: justify;\"><strong>更激进的信号来自华尔街。城堡证券宏观策略主管Frank Flight出人意料地改变基本预期,转而支持本周加息。</strong>他在报告中写道,加息25个基点将强化沃什恢复价格稳定的承诺,同时表明政策制定者不再依赖提前向市场“明示”每一次政策行动。Flight认为市场再次低估了美联储政策立场转向鹰派的程度,“本周加息将明确结束前瞻性指引时代”。</p><p style=\"text-align: justify;\"><strong>Wrightson ICAP首席经济学家Lou Crandall表示,美联储没有理由不加息。</strong>PGIM全球债券主管兼首席投资策略师Robert Tipp则表示,市场可能低估了周三加息的可能性。Tipp说:“他确实为加息做好了准备。现在推迟决定会增加九月份加息50个基点的可能性。”</p><p style=\"text-align: justify;\">然而,分析指出,沃什本人可能并不支持现在加息。他在7月15日的国会证词中将能源价格冲击描述为“特定价格发生的特定冲击,我们无法控制”。加息将“预判”他刚成立的工作组的结论。此外,6月CPI已出现六年来首次下降,就业增长放缓,为按兵不动提供了理由。机构对76位经济学家的调查显示,所有受访者均预计美联储将维持利率不变。</p><h2 id=\"id_3797664327\">市场屏息:无论结果如何,波动都将剧烈</h2><p style=\"text-align: justify;\">瑞银首席美国经济学家Jonathan Pingle坦言,他20年来从未像现在这样对美联储即将做出的利率决定感到如此不确定,上次感到不确定还要追溯到本·伯南克担任美联储主席的时候;<strong>他指出,沃什缺乏过往历史以及美联储官员近期的分歧进一步加剧了前景的不确定性,但他不排除沃什最终投下决定性一票的可能性。</strong>美国银行美国利率策略主管Mark Cabana的总结更为精辟:“投资者仍在试图了解美联储在沃什担任主席期间将如何运作。”</p><p style=\"text-align: justify;\"><strong>不确定性正在驱动前所未有的对冲需求。8月联邦基金期货合约的未平仓合约量在7月27日达到967,136份,刷新历史纪录。</strong>花旗交易团队已买入7月FOMC合约——该头寸将在央行维持利率不变时获利,其短期利率交易全球负责人Akshay Singal表示,“沃什一直明确表示希望市场关注数据,而当前数据尚不足以支持加息”。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/365fa0bfcd36b7feabaf2feca5d4e12e\" alt=\"\" title=\"\" tg-width=\"637\" tg-height=\"374\"/></p><p style=\"text-align: justify;\">宏观策略师Michael Ball指出:“虽然市场正与一位可能在不预告意图的情况下采取行动的美联储主席踏入未知领域,但这样的举措最终可能被投资者接受为适当政策。那将在短期内支撑风险资产”。</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/0f9e9a265cb0e7e8cb195039b2fe24a4","relate_stocks":{"09834":"安硕纳指一百—U","07522":"FI二华夏纳一百","NOCT":"Innovator Growth-100 Power Buffer ETF - 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O'Brien衍生品经纪人Alex Manzara指出:“过去,美联储通常不会令市场意外。临近会议时,联邦基金期货隐含利率与最终政策利率通常不会相差超过两三个基点。现在合约中突然出现了不确定性,而这带来了交易需求。”Bianco Research总裁Jim Bianco表示 :“没有前瞻指引,意味着我们将频繁看到20%、30%、40%的概率分布”。高盛指出,投资者认为7月会议结果存在“异常大的不确定性”,原因正是美联储内部意见分歧、沃什本人立场尚不明确。政治暗流:沃什与特朗普的微妙平衡这场政策博弈的背后,还隐藏着复杂的政治计算。特朗普已公开向沃什施压要求降息,称“利率应该降低”,“我们应该拥有全球最低的利率”。债券市场资深人士Harley Bassman在报告中直言,美联储应该“撕掉创可贴”,将利率提高50个基点。“加息50个基点表明市场出现了一位新警长,他并不受总统的约束”——此举既能获得抗通胀信誉,又能抵御特朗普总统降低借贷成本的压力。SMBC日兴证券美国首席经济学家Joseph Lavorgna指出,若等到9月甚至10月才行动——第一次加息正好在中期选举之前——“那会是什么样子?他不如现在就行动”。沃什面临的考验在于:他在国会誓言“零容忍”通胀,却迟迟不愿透露具体路径。正如贝莱德此前所指出的,沃什“认识到信誉仍然是央行最强大的政策工具”——但“这些话最终需要用行动来支撑”。鹰派集结:至少两张反对票在途,城堡证券押注“突袭加息”美联储内部的分歧同样罕见。达拉斯联储主席洛根近期明确呼吁“略微更高的利率”,认为通胀仍明显高于2%目标。克利夫兰联储主席哈马克也警告通胀压力过高。两人均拥有2026年FOMC投票权,曾在4月投下反对票,本周极可能再次反对。高盛预计至少一位委员将投赞成加息的异议票;丹斯克银行预计2至4名委员支持加息;而花旗则押注按兵不动。不过,花旗预计,若反对票超过两张,将被市场解读为更强烈的鹰派信号。机构预测本周至少会有两张反对票。更激进的信号来自华尔街。城堡证券宏观策略主管Frank Flight出人意料地改变基本预期,转而支持本周加息。他在报告中写道,加息25个基点将强化沃什恢复价格稳定的承诺,同时表明政策制定者不再依赖提前向市场“明示”每一次政策行动。Flight认为市场再次低估了美联储政策立场转向鹰派的程度,“本周加息将明确结束前瞻性指引时代”。Wrightson ICAP首席经济学家Lou Crandall表示,美联储没有理由不加息。PGIM全球债券主管兼首席投资策略师Robert Tipp则表示,市场可能低估了周三加息的可能性。Tipp说:“他确实为加息做好了准备。现在推迟决定会增加九月份加息50个基点的可能性。”然而,分析指出,沃什本人可能并不支持现在加息。他在7月15日的国会证词中将能源价格冲击描述为“特定价格发生的特定冲击,我们无法控制”。加息将“预判”他刚成立的工作组的结论。此外,6月CPI已出现六年来首次下降,就业增长放缓,为按兵不动提供了理由。机构对76位经济学家的调查显示,所有受访者均预计美联储将维持利率不变。市场屏息:无论结果如何,波动都将剧烈瑞银首席美国经济学家Jonathan Pingle坦言,他20年来从未像现在这样对美联储即将做出的利率决定感到如此不确定,上次感到不确定还要追溯到本·伯南克担任美联储主席的时候;他指出,沃什缺乏过往历史以及美联储官员近期的分歧进一步加剧了前景的不确定性,但他不排除沃什最终投下决定性一票的可能性。美国银行美国利率策略主管Mark Cabana的总结更为精辟:“投资者仍在试图了解美联储在沃什担任主席期间将如何运作。”不确定性正在驱动前所未有的对冲需求。8月联邦基金期货合约的未平仓合约量在7月27日达到967,136份,刷新历史纪录。花旗交易团队已买入7月FOMC合约——该头寸将在央行维持利率不变时获利,其短期利率交易全球负责人Akshay Singal表示,“沃什一直明确表示希望市场关注数据,而当前数据尚不足以支持加息”。宏观策略师Michael Ball指出:“虽然市场正与一位可能在不预告意图的情况下采取行动的美联储主席踏入未知领域,但这样的举措最终可能被投资者接受为适当政策。那将在短期内支撑风险资产”。","news_type":1,"symbols_score_info":{"PSQ":0.6,"NDX":2,"QQQ":0.6,"NOCT":0.6,"SPDN":0.6,"03455":0.6,"SPXU":0.6,"SPYU":0.6,"VOO":0.6,"QLD":0.6,"NJAN":0.6,"DIA":0.6,"SPUU":0.6,"TQQQ":0.6,"SPY":0.6,"QID":0.6,"QMAR":0.6,"09086":0.6,"SPXL":0.6,"TQQY":0.6,"DMAX":0.6,"UPRO":0.6,"NJUL":0.6,"SH":0.6,"SQQQ":0.6,"02834":0.6,"UDOW":0.6,"GPIQ":0.6,"SPYQ":0.6,"SSO":0.6,".SPX":2,"SMAX":0.6,"DOG":0.6,"SDOW":0.6,".DJI":2,"03086":0.6,"SPYH":0.6,"DDM":0.6,"07266":0.6,"07568":0.6,"QQQM":0.6,"07261":0.6,"03034":0.6,"SPXS":0.6,"HIBL":0.6,"DXD":0.6,"QDEC":0.6,"NAPR":0.6,"IVV":0.6,"09834":0.6,"YSPY":0.6,"QQQX":0.6,"MMAX":0.6,"SDS":0.6,".IXIC":2,"SPYM":0.6,"07522":0.6}},"isVote":1,"tweetType":1,"viewCount":232,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":590688302822152,"gmtCreate":1785212522824,"gmtModify":1785212524951,"author":{"id":"4228385961123602","authorId":"4228385961123602","name":"HAKUBUN","avatar":"https://static.tigerbbs.com/97e39f638d455bd5828c866ff7fee9d7","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4228385961123602","idStr":"4228385961123602"},"themes":[],"title":"","htmlText":"华尔街的空投最喜欢拿中国鬼故事吓唬市场,真是屡试不爽呀","listText":"华尔街的空投最喜欢拿中国鬼故事吓唬市场,真是屡试不爽呀","text":"华尔街的空投最喜欢拿中国鬼故事吓唬市场,真是屡试不爽呀","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/590688302822152","repostId":"1187931355","repostType":2,"repost":{"id":"1187931355","kind":"news","weMediaInfo":{"introduction":"追踪全球财经热点,精选影响您财富的资讯,投资理财必备神器!","home_visible":1,"media_name":"华尔街见闻","id":"1084101182","head_image":"https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e"},"pubTimestamp":1785197923,"share":"https://www.laohunote.com/m/news/1187931355?lang=zh_CN&edition=full","pubTime":"2026-07-28 08:18","market":"us","language":"zh","title":"中国DRAM巨头搅动全球格局,美股存储芯片跳水,SK海力士破发,闪迪一个月接近腰斩","url":"https://stock-news.laohu8.com/highlight/detail?id=1187931355","media":"华尔街见闻","summary":"SK海力士自7月10日赴美上市以来首次收盘跌破IPO发行价,收盘较发行价低4%。中国DRAM龙头上市,引发全球存储板块重估对于本周一美股存储芯片股大跌,多家外媒认为,市场担忧的并非长鑫科技短期业绩,而是全球DRAM供给格局未来可能发生变化。AI时代,真正决定胜负的仍是HBM不过,从全球竞争格局来看,多数机构仍认为,美光、SK海力士和三星在AI存储领域的领先优势短期难以撼动。","content":"<html><head></head><body><blockquote><p>周一盘中,闪迪跌超10%、市值一个月蒸发1700亿美元,SK海力士ADR曾跌10%,美光一度跌超7%。多数机构仍认为,美光、SK海力士和三星在AI存储领域的领先优势短期难以撼动。有分析师认为,存储芯片股回调提供了新的布局机会。</p></blockquote><p style=\"text-align: justify;\">国存储芯片龙头长鑫科技登陆A股首日的火爆表现,正在成为全球存储芯片板块的新变量。</p><p style=\"text-align: justify;\">周一美股盘中,存储芯片股重挫,成为大盘最大拖累。闪迪(SNDK)盘中跌超10%、早盘刷新日低时跌约14.6%,较6月22日创下的历史高点累跌47%,过去一个月内市值蒸发约1700亿美元;SK海力士ADR(SKHY)盘中曾跌约10%,西部数据(WDC)和希捷科技(STX)盘中曾分别跌超9%和8%,美光科技(MU)一度跌超7%。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/21ac8ecb5c5dcf5cc5f94e612e8c0127\" tg-width=\"560\" tg-height=\"240\" data-image-type=\"kline\"/></p><p style=\"text-align: justify;\">到收盘,闪迪、SK海力士ADR、西部数据、希捷科技和美光分别跌约11%、7.5%、4.2%、4.1%和2.3%。SK海力士自7月10日赴美上市以来首次收盘跌破IPO发行价,收盘较发行价低4%。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/857babbd27fd7e1470bfb614f1eac087\" tg-width=\"560\" tg-height=\"240\" data-image-type=\"kline\"/></p><p style=\"text-align: justify;\">早盘刷新日低时,追踪芯片股总体表现的费城半导体指数跌约5%,表现远逊三大美股指,最终收跌2.2%。标普500指数和纳指刷新日低时分别跌约0.4%和0.8%,道指全天保持涨势。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4ac643d36cc83251efa77003eda7b4b1\" tg-width=\"560\" tg-height=\"240\" data-image-type=\"kline\"/></p><p style=\"text-align: justify;\">市场普遍将矛头指向当天在上交所科创板上市的长鑫科技(CXMT)。这家中国最大的DRAM厂商上市首日股价暴涨超460%,市值突破3万亿元人民币,成为新的A股市值一哥,也令全球投资者重新评估未来几年DRAM行业的竞争格局。</p><h2 id=\"id_1280442175\">中国DRAM龙头上市,引发全球存储板块重估</h2><p style=\"text-align: justify;\">对于本周一美股存储芯片股大跌,多家外媒认为,市场担忧的并非长鑫科技短期业绩,而是全球DRAM供给格局未来可能发生变化。</p><p style=\"text-align: justify;\">分析认为,长鑫科技完成亚洲今年规模最大的IPO后,意味着公司获得更加充裕的资本支持,其未来扩产、技术研发以及向HBM等AI高端存储领域迈进的能力都有望增强。对于此前已经大幅上涨的全球存储芯片龙头而言,这意味着长期竞争压力正在上升。</p><p style=\"text-align: justify;\">有评论指出,市场担心随着长鑫科技融资完成,未来DRAM新增供给可能加快释放,从而削弱当前市场对于存储价格持续上涨的乐观预期。与此同时,此前美光、SK海力士、闪迪等存储股经历了大幅上涨,在高估值背景下,任何竞争格局变化都容易触发获利回吐。</p><p style=\"text-align: justify;\">还有评论认为,本轮回调更多体现为市场重新定价。虽然AI推动的HBM需求依旧强劲,但投资者开始重新思考:如果中国厂商持续提升产能和技术实力,未来传统DRAM业务是否会提前进入竞争加剧阶段,进而影响行业利润率。</p><p style=\"text-align: justify;\">不过,不少分析师认为,市场反应可能存在一定程度的过度解读。</p><p style=\"text-align: justify;\">目前长鑫科技产品仍主要集中在DDR4、DDR5等传统DRAM领域,而美光、SK海力士和三星当前利润增长最快的业务来自HBM等AI存储产品。受美国出口限制影响,长鑫科技短期内进入HBM高端市场仍面临较高技术门槛,因此全球AI存储市场格局短期内难以发生根本改变。</p><h2 id=\"id_1213106346\">长鑫科技首日暴涨,资本市场押注“中国存储”</h2><p style=\"text-align: justify;\">长鑫科技此次IPO本身就备受全球关注。</p><p style=\"text-align: justify;\">公司此次募集资金约579亿元人民币(约86亿美元),创今年亚洲IPO募资规模新高。上市首日、本周一,公司股价收盘较发行价涨465.82%,总市值达3.28万亿,超越工商银行、成为A股总市值之首,市值相当于两个贵州茅台。</p><p style=\"text-align: justify;\">周一全天,长鑫科技成交额超1400亿元,成为A股史上首只单日成交额突破千亿元的个股。</p><p style=\"text-align: justify;\">公开资料显示,长鑫科技成立于2016年,是中国规模最大的DRAM芯片制造商,也是中国实现DRAM自主研发和量产的重要代表企业。目前公司产品覆盖消费电子、PC、服务器、汽车电子等多个领域,并持续推进DDR5等新产品研发。</p><p style=\"text-align: justify;\">国内媒体普遍认为,长鑫科技上市不仅意味着中国半导体产业迎来新的里程碑,也意味着资本市场正在给予国产高端制造和“硬科技”更高估值溢价。市场期待募集资金将进一步支持先进制程研发、扩大产能以及完善国产存储产业链。</p><h2 id=\"id_1542057506\">AI时代,真正决定胜负的仍是HBM</h2><p style=\"text-align: justify;\">不过,从全球竞争格局来看,多数机构仍认为,美光、SK海力士和三星在AI存储领域的领先优势短期难以撼动。</p><p style=\"text-align: justify;\">当前AI服务器需求爆发,使HBM成为全球最紧缺的半导体产品之一。美光和SK海力士几乎包揽了英伟达等AI芯片厂商的HBM供应,相关业务也是推动两家公司盈利快速增长的核心动力。</p><p style=\"text-align: justify;\">因此,不少分析人士认为,周一存储股的大跌更像是一次情绪驱动的估值调整,而非行业基本面出现拐点。随着AI基础设施建设持续推进,高端存储需求仍有望保持高速增长。</p><p style=\"text-align: justify;\">Bernstein分析师Mark Li甚至认为,当天板块回调反而提供了新的布局机会。他预计,到2027年至2028年,全球存储芯片市场收入仍有望突破1.3万亿美元,AI时代的数据中心建设将持续支撑DRAM和HBM需求增长。</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" 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style=\"background-image:url(https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">华尔街见闻 </p>\n<p class=\"h-time\">2026-07-28 08:18</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><blockquote><p>周一盘中,闪迪跌超10%、市值一个月蒸发1700亿美元,SK海力士ADR曾跌10%,美光一度跌超7%。多数机构仍认为,美光、SK海力士和三星在AI存储领域的领先优势短期难以撼动。有分析师认为,存储芯片股回调提供了新的布局机会。</p></blockquote><p style=\"text-align: justify;\">国存储芯片龙头长鑫科技登陆A股首日的火爆表现,正在成为全球存储芯片板块的新变量。</p><p style=\"text-align: justify;\">周一美股盘中,存储芯片股重挫,成为大盘最大拖累。闪迪(SNDK)盘中跌超10%、早盘刷新日低时跌约14.6%,较6月22日创下的历史高点累跌47%,过去一个月内市值蒸发约1700亿美元;SK海力士ADR(SKHY)盘中曾跌约10%,西部数据(WDC)和希捷科技(STX)盘中曾分别跌超9%和8%,美光科技(MU)一度跌超7%。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/21ac8ecb5c5dcf5cc5f94e612e8c0127\" tg-width=\"560\" tg-height=\"240\" data-image-type=\"kline\"/></p><p style=\"text-align: justify;\">到收盘,闪迪、SK海力士ADR、西部数据、希捷科技和美光分别跌约11%、7.5%、4.2%、4.1%和2.3%。SK海力士自7月10日赴美上市以来首次收盘跌破IPO发行价,收盘较发行价低4%。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/857babbd27fd7e1470bfb614f1eac087\" tg-width=\"560\" tg-height=\"240\" data-image-type=\"kline\"/></p><p style=\"text-align: justify;\">早盘刷新日低时,追踪芯片股总体表现的费城半导体指数跌约5%,表现远逊三大美股指,最终收跌2.2%。标普500指数和纳指刷新日低时分别跌约0.4%和0.8%,道指全天保持涨势。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4ac643d36cc83251efa77003eda7b4b1\" tg-width=\"560\" tg-height=\"240\" data-image-type=\"kline\"/></p><p style=\"text-align: justify;\">市场普遍将矛头指向当天在上交所科创板上市的长鑫科技(CXMT)。这家中国最大的DRAM厂商上市首日股价暴涨超460%,市值突破3万亿元人民币,成为新的A股市值一哥,也令全球投资者重新评估未来几年DRAM行业的竞争格局。</p><h2 id=\"id_1280442175\">中国DRAM龙头上市,引发全球存储板块重估</h2><p style=\"text-align: justify;\">对于本周一美股存储芯片股大跌,多家外媒认为,市场担忧的并非长鑫科技短期业绩,而是全球DRAM供给格局未来可能发生变化。</p><p style=\"text-align: justify;\">分析认为,长鑫科技完成亚洲今年规模最大的IPO后,意味着公司获得更加充裕的资本支持,其未来扩产、技术研发以及向HBM等AI高端存储领域迈进的能力都有望增强。对于此前已经大幅上涨的全球存储芯片龙头而言,这意味着长期竞争压力正在上升。</p><p style=\"text-align: justify;\">有评论指出,市场担心随着长鑫科技融资完成,未来DRAM新增供给可能加快释放,从而削弱当前市场对于存储价格持续上涨的乐观预期。与此同时,此前美光、SK海力士、闪迪等存储股经历了大幅上涨,在高估值背景下,任何竞争格局变化都容易触发获利回吐。</p><p style=\"text-align: justify;\">还有评论认为,本轮回调更多体现为市场重新定价。虽然AI推动的HBM需求依旧强劲,但投资者开始重新思考:如果中国厂商持续提升产能和技术实力,未来传统DRAM业务是否会提前进入竞争加剧阶段,进而影响行业利润率。</p><p style=\"text-align: justify;\">不过,不少分析师认为,市场反应可能存在一定程度的过度解读。</p><p style=\"text-align: justify;\">目前长鑫科技产品仍主要集中在DDR4、DDR5等传统DRAM领域,而美光、SK海力士和三星当前利润增长最快的业务来自HBM等AI存储产品。受美国出口限制影响,长鑫科技短期内进入HBM高端市场仍面临较高技术门槛,因此全球AI存储市场格局短期内难以发生根本改变。</p><h2 id=\"id_1213106346\">长鑫科技首日暴涨,资本市场押注“中国存储”</h2><p style=\"text-align: justify;\">长鑫科技此次IPO本身就备受全球关注。</p><p style=\"text-align: justify;\">公司此次募集资金约579亿元人民币(约86亿美元),创今年亚洲IPO募资规模新高。上市首日、本周一,公司股价收盘较发行价涨465.82%,总市值达3.28万亿,超越工商银行、成为A股总市值之首,市值相当于两个贵州茅台。</p><p style=\"text-align: justify;\">周一全天,长鑫科技成交额超1400亿元,成为A股史上首只单日成交额突破千亿元的个股。</p><p style=\"text-align: justify;\">公开资料显示,长鑫科技成立于2016年,是中国规模最大的DRAM芯片制造商,也是中国实现DRAM自主研发和量产的重要代表企业。目前公司产品覆盖消费电子、PC、服务器、汽车电子等多个领域,并持续推进DDR5等新产品研发。</p><p style=\"text-align: justify;\">国内媒体普遍认为,长鑫科技上市不仅意味着中国半导体产业迎来新的里程碑,也意味着资本市场正在给予国产高端制造和“硬科技”更高估值溢价。市场期待募集资金将进一步支持先进制程研发、扩大产能以及完善国产存储产业链。</p><h2 id=\"id_1542057506\">AI时代,真正决定胜负的仍是HBM</h2><p style=\"text-align: justify;\">不过,从全球竞争格局来看,多数机构仍认为,美光、SK海力士和三星在AI存储领域的领先优势短期难以撼动。</p><p style=\"text-align: justify;\">当前AI服务器需求爆发,使HBM成为全球最紧缺的半导体产品之一。美光和SK海力士几乎包揽了英伟达等AI芯片厂商的HBM供应,相关业务也是推动两家公司盈利快速增长的核心动力。</p><p style=\"text-align: justify;\">因此,不少分析人士认为,周一存储股的大跌更像是一次情绪驱动的估值调整,而非行业基本面出现拐点。随着AI基础设施建设持续推进,高端存储需求仍有望保持高速增长。</p><p style=\"text-align: justify;\">Bernstein分析师Mark Li甚至认为,当天板块回调反而提供了新的布局机会。他预计,到2027年至2028年,全球存储芯片市场收入仍有望突破1.3万亿美元,AI时代的数据中心建设将持续支撑DRAM和HBM需求增长。</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/38b14d4c1528b585f44d427c7a09d860","relate_stocks":{"MULL":"2倍做多MU ETF-GraniteShares","SKHU":"2倍做多海力士-ProShares","MIC":"2倍做多MU ETF-Corgi","STX":"希捷科技","NVDW":"NVDA周配息ETF-Roundhill","SKHX":"2倍做多海力士ETF-Leverage Shares","ASMU":"Direxion Daily ASML Bull 2X ETF","SNDU":"2倍做多SNDK ETF-T-REX","07788":"南方两倍做多英伟达","HYNX":"2倍做多海力士ETF-T-REX","NVDX":"2倍做多NVDA ETF-T-Rex","SNXX":"2倍做多SNDK ETF-Tradr","SKHZ":"1倍做空海力士ETF-Leverage Shares","SNDQ":"2倍做空SNDK ETF-Tradr","NVDY":"NVDA期权收益策略ETF-YieldMax","AMDD":"1倍做空AMD ETF-Direxion","NVDO":"2倍上限加速NVDA ETF-Leverage Shares","MU":"美光科技","SKHY":"SK海力士","SNDG":"2倍做多SNDK ETF-Leverage Shares","NVD":"2倍做空NVDA ETF-GraniteShares","NVDA":"英伟达","ASML":"阿斯麦","07388":"南方两倍做空英伟达","AMDG":"2倍做多AMD ETF- Leverage Shares","NVYY":"GraniteShares YieldBOOST NVDA ETF","ANV":"GraniteShares Autocallable NVDA ETF","SNDC":"2倍做多SNDK ETF-Corgi","NVDB":"ProShares Ultra NVDA ETF","NVII":"Rex NVDA Growth & Income ETF","SK":"2倍做多海力士ETF-Corgi","AMDL":"2倍做多AMD ETF-GraniteShares","NVDD":"1倍做空NVDA ETF-Direxion","SKDD":"2倍做空海力士ETF-GraniteShares","DAMD":"2倍做空AMD 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ETF-Direxion"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1187931355","content_text":"周一盘中,闪迪跌超10%、市值一个月蒸发1700亿美元,SK海力士ADR曾跌10%,美光一度跌超7%。多数机构仍认为,美光、SK海力士和三星在AI存储领域的领先优势短期难以撼动。有分析师认为,存储芯片股回调提供了新的布局机会。国存储芯片龙头长鑫科技登陆A股首日的火爆表现,正在成为全球存储芯片板块的新变量。周一美股盘中,存储芯片股重挫,成为大盘最大拖累。闪迪(SNDK)盘中跌超10%、早盘刷新日低时跌约14.6%,较6月22日创下的历史高点累跌47%,过去一个月内市值蒸发约1700亿美元;SK海力士ADR(SKHY)盘中曾跌约10%,西部数据(WDC)和希捷科技(STX)盘中曾分别跌超9%和8%,美光科技(MU)一度跌超7%。到收盘,闪迪、SK海力士ADR、西部数据、希捷科技和美光分别跌约11%、7.5%、4.2%、4.1%和2.3%。SK海力士自7月10日赴美上市以来首次收盘跌破IPO发行价,收盘较发行价低4%。早盘刷新日低时,追踪芯片股总体表现的费城半导体指数跌约5%,表现远逊三大美股指,最终收跌2.2%。标普500指数和纳指刷新日低时分别跌约0.4%和0.8%,道指全天保持涨势。市场普遍将矛头指向当天在上交所科创板上市的长鑫科技(CXMT)。这家中国最大的DRAM厂商上市首日股价暴涨超460%,市值突破3万亿元人民币,成为新的A股市值一哥,也令全球投资者重新评估未来几年DRAM行业的竞争格局。中国DRAM龙头上市,引发全球存储板块重估对于本周一美股存储芯片股大跌,多家外媒认为,市场担忧的并非长鑫科技短期业绩,而是全球DRAM供给格局未来可能发生变化。分析认为,长鑫科技完成亚洲今年规模最大的IPO后,意味着公司获得更加充裕的资本支持,其未来扩产、技术研发以及向HBM等AI高端存储领域迈进的能力都有望增强。对于此前已经大幅上涨的全球存储芯片龙头而言,这意味着长期竞争压力正在上升。有评论指出,市场担心随着长鑫科技融资完成,未来DRAM新增供给可能加快释放,从而削弱当前市场对于存储价格持续上涨的乐观预期。与此同时,此前美光、SK海力士、闪迪等存储股经历了大幅上涨,在高估值背景下,任何竞争格局变化都容易触发获利回吐。还有评论认为,本轮回调更多体现为市场重新定价。虽然AI推动的HBM需求依旧强劲,但投资者开始重新思考:如果中国厂商持续提升产能和技术实力,未来传统DRAM业务是否会提前进入竞争加剧阶段,进而影响行业利润率。不过,不少分析师认为,市场反应可能存在一定程度的过度解读。目前长鑫科技产品仍主要集中在DDR4、DDR5等传统DRAM领域,而美光、SK海力士和三星当前利润增长最快的业务来自HBM等AI存储产品。受美国出口限制影响,长鑫科技短期内进入HBM高端市场仍面临较高技术门槛,因此全球AI存储市场格局短期内难以发生根本改变。长鑫科技首日暴涨,资本市场押注“中国存储”长鑫科技此次IPO本身就备受全球关注。公司此次募集资金约579亿元人民币(约86亿美元),创今年亚洲IPO募资规模新高。上市首日、本周一,公司股价收盘较发行价涨465.82%,总市值达3.28万亿,超越工商银行、成为A股总市值之首,市值相当于两个贵州茅台。周一全天,长鑫科技成交额超1400亿元,成为A股史上首只单日成交额突破千亿元的个股。公开资料显示,长鑫科技成立于2016年,是中国规模最大的DRAM芯片制造商,也是中国实现DRAM自主研发和量产的重要代表企业。目前公司产品覆盖消费电子、PC、服务器、汽车电子等多个领域,并持续推进DDR5等新产品研发。国内媒体普遍认为,长鑫科技上市不仅意味着中国半导体产业迎来新的里程碑,也意味着资本市场正在给予国产高端制造和“硬科技”更高估值溢价。市场期待募集资金将进一步支持先进制程研发、扩大产能以及完善国产存储产业链。AI时代,真正决定胜负的仍是HBM不过,从全球竞争格局来看,多数机构仍认为,美光、SK海力士和三星在AI存储领域的领先优势短期难以撼动。当前AI服务器需求爆发,使HBM成为全球最紧缺的半导体产品之一。美光和SK海力士几乎包揽了英伟达等AI芯片厂商的HBM供应,相关业务也是推动两家公司盈利快速增长的核心动力。因此,不少分析人士认为,周一存储股的大跌更像是一次情绪驱动的估值调整,而非行业基本面出现拐点。随着AI基础设施建设持续推进,高端存储需求仍有望保持高速增长。Bernstein分析师Mark Li甚至认为,当天板块回调反而提供了新的布局机会。他预计,到2027年至2028年,全球存储芯片市场收入仍有望突破1.3万亿美元,AI时代的数据中心建设将持续支撑DRAM和HBM需求增长。","news_type":1,"symbols_score_info":{"NVDY":0.6,"SNDG":0.6,"NVDS":0.6,"AMDY":0.6,"NVYY":0.6,"SNDC":0.6,"MUD":0.6,"MUZ":0.6,"NVDL":0.6,"ASMG":0.6,"NVDX":0.6,"SNDQ":0.6,"NVD":0.6,"WDCX":0.6,"AMDD":0.6,"NVII":0.6,"ANV":0.6,"SK":0.6,"AMUU":0.6,"MIC":0.6,"SNXX":0.6,"07388":0.6,"NVDO":0.6,"AMDW":0.6,"SNDU":0.6,"SKUU":0.6,"07709":0.6,"NVDQ":0.6,"NVDA":2,"MULL":0.6,"MUYY":0.6,"MU":2,"NVDU":0.6,"SKHX":0.6,"NVDD":0.6,"SKHZ":0.6,"WDC":2,"ASMU":0.6,"SKHU":0.6,"AMDG":0.6,"NVDB":0.6,"STX":2,"07788":0.6,"AMDU":0.6,"MUU":0.6,"SKHY":2,"HYNX":0.6,"SKDD":0.6,"AMDL":0.6,"NVDW":0.6,"SNDK":2,"DAMD":0.6,"AMYY":0.6,"ASML":2,"NVDG":0.6,"DIPS":0.6,"AMD":2}},"isVote":1,"tweetType":1,"viewCount":389,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":590310160712760,"gmtCreate":1785120243823,"gmtModify":1785120245648,"author":{"id":"4228385961123602","authorId":"4228385961123602","name":"HAKUBUN","avatar":"https://static.tigerbbs.com/97e39f638d455bd5828c866ff7fee9d7","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4228385961123602","idStr":"4228385961123602"},"themes":[],"title":"","htmlText":"大裤头蹬鼻子上脸了,怎么不懂得见好就收呢","listText":"大裤头蹬鼻子上脸了,怎么不懂得见好就收呢","text":"大裤头蹬鼻子上脸了,怎么不懂得见好就收呢","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/590310160712760","repostId":"2654842068","repostType":2,"repost":{"id":"2654842068","kind":"highlight","weMediaInfo":{"introduction":"追踪全球财经热点,精选影响您财富的资讯,投资理财必备神器!","home_visible":1,"media_name":"华尔街见闻","id":"1084101182","head_image":"https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e"},"pubTimestamp":1785047083,"share":"https://www.laohunote.com/m/news/2654842068?lang=zh_CN&edition=full","pubTime":"2026-07-26 14:24","market":"us","language":"zh","title":"“大空头”继续狙击AI!Michael Burry扩大英伟达、美光空头仓位,维持做空特斯拉、Palantir","url":"https://stock-news.laohu8.com/highlight/detail?id=2654842068","media":"华尔街见闻","summary":"Burry发文披露最新持仓动向,扩大对美光、英伟达及费城半导体ETF的空头仓位,同时新增做空卡特彼勒,并维持做空特斯拉、Palantir及持有纳斯达克100看跌期权。他认为英伟达当前及未来的大量需求并非来自终端客户,而是通过表外融资安排循环驱动。","content":"<html><head></head><body><p style=\"text-align: left;\">"大空头"Michael Burry再度加码做空美光等AI相关股票,并维持对<a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>和<a href=\"https://laohu8.com/S/PLTR\">Palantir</a>的空头押注,其对半导体板块的看空逻辑正受到市场越来越多的关注。</p><p style=\"text-align: left;\">Burry于当地时间7月25日在Substack发文披露最新持仓动向,显示他<strong>进一步扩大了对<a href=\"https://laohu8.com/S/MU\">美光科技</a>、<a href=\"https://laohu8.com/S/NVDA\">英伟达</a>及费城半导体ETF的空头仓位,同时新增做空<a href=\"https://laohu8.com/S/CAT\">卡特彼勒</a>。</strong></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c88feab16c1c637e5f7c39eb4fb752f9\" data-align=\"center\" tg-width=\"649\" tg-height=\"368\"/><span></span></p><p style=\"text-align: left;\">他明确表示,<strong>英伟达当前及未来的大量需求并非来自终端客户,而是通过表外融资安排循环驱动,并援引2026年国际清算银行年度报告加以佐证。</strong>与此同时,他<strong>对特斯拉和Palantir的空头仓位保持不变,并继续持有纳斯达克100 ETF的看跌期权。</strong></p><p style=\"text-align: left;\">此次披露正值半导体板块承压之际。华尔街见闻文章此前写道,Burry此前曾表示,<a href=\"https://laohu8.com/S/SMSN.UK\">三星</a>和<a href=\"https://laohu8.com/S/SKHY\">SK海力士</a>公布的韩国半导体资本支出计划,是半导体行业景气周期"由盛转衰的开始",并预计半导体板块将面临约30%的回调,认为AI基础设施相关公司估值已严重偏高。</p><h2 style=\"text-align: left;\">扩大半导体空头:美光、英伟达、SOXX齐齐加码</h2><p style=\"text-align: left;\">Burry在Substack文章中披露,他以每股933.86美元的价格进一步做空美光科技,以210.28美元的价格增持英伟达空头仓位,并以535.83美元加仓SOXX空头。他表示,<strong>SOXX空头仓位与其持有的看跌期权合并计算,已构成其投资组合中的一个大型仓位。</strong></p><p style=\"text-align: left;\">在英伟达的做空逻辑上,Burry措辞直接。他表示,<strong>目前英伟达大量需求并非由真实终端客户驱动,相关需求的融资安排游离于资产负债表之外且未予披露,未来收入"大部分通过循环安排融资"</strong>。他援引2026年国际清算银行年度报告作为支撑依据。</p><p style=\"text-align: left;\">值得注意的是,这并非Burry首次出手做空美光。华尔街见闻文章写道,Burry此前曾在1051.87美元的价位做空美光,并表示"对这类情形的最终结局有相当清晰的了解",同时还增加了另外五个做空仓位。</p><p style=\"text-align: left;\"><strong>Burry对AI相关板块的看空,建立在对行业需求真实性的质疑之上。</strong>他认为,当前AI基础设施投资热潮中,大量资本开支并未对应真实的终端需求,而是通过不透明的融资结构自我循环,存在系统性高估风险。</p><p style=\"text-align: left;\">华尔街见闻文章此前写道,Burry预计半导体板块将面临约30%的回调,并将三星和SK海力士的资本支出扩张计划视为行业景气周期"由盛转衰的开始"。</p><p style=\"text-align: left;\">另外,在维持原有空头仓位方面,Burry表示<strong>尚未平仓特斯拉空头,并以轻描淡写的口吻称该仓位"自己在慢慢缩小"</strong>——暗示特斯拉股价下跌已令其空头仓位的名义规模自然收缩。他同时维持对Palantir的做空,并继续持有QQQ看跌期权,表明其对整体科技板块的看空立场未有松动。</p><p style=\"text-align: left;\">从今年以来的股价表现来看,Burry的部分空头押注面临一定压力。美光年内累计涨幅接近200%,英伟达上涨约10%。不过,Palantir、特斯拉和DraftKings年内均已下跌逾三成,分别录得约34%、33%和34%的跌幅,与Burry的看空方向基本吻合。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/839c9c1dcef2800f837df02e079a4f9c\" data-align=\"center\" tg-width=\"1910\" tg-height=\"1212\"/><span></span></p><p style=\"text-align: left;\">在做空AI的同时,Burry也在积极布局多头仓位,且方向集中于体育博彩领域。他以100.72美元买入"相当数量"的Flutter Entertainment,并以23.07美元买入DraftKings。</p><p style=\"text-align: left;\">Burry在文章中写道:"将FLUT和DKNG合并来看,作为对预测市场的一次押注,两者合计构成我较大的仓位之一。"此外,他还增持了<a href=\"https://laohu8.com/S/MOH\">Molina Healthcare</a>,买入价格为197.02美元。</p><p style=\"text-align: left;\">这一多头布局与其空头逻辑形成鲜明对比——在看空AI基础设施泡沫的同时,Burry将资金转向与科技热潮相关性较低的消费及医疗领域,折射出其对当前市场结构的整体判断。</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>“大空头”继续狙击AI!Michael Burry扩大英伟达、美光空头仓位,维持做空特斯拉、Palantir</title>\n<style 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margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n“大空头”继续狙击AI!Michael Burry扩大英伟达、美光空头仓位,维持做空特斯拉、Palantir\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1084101182\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">华尔街见闻 </p>\n<p class=\"h-time\">2026-07-26 14:24</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p style=\"text-align: left;\">"大空头"Michael Burry再度加码做空美光等AI相关股票,并维持对<a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>和<a href=\"https://laohu8.com/S/PLTR\">Palantir</a>的空头押注,其对半导体板块的看空逻辑正受到市场越来越多的关注。</p><p style=\"text-align: left;\">Burry于当地时间7月25日在Substack发文披露最新持仓动向,显示他<strong>进一步扩大了对<a href=\"https://laohu8.com/S/MU\">美光科技</a>、<a href=\"https://laohu8.com/S/NVDA\">英伟达</a>及费城半导体ETF的空头仓位,同时新增做空<a href=\"https://laohu8.com/S/CAT\">卡特彼勒</a>。</strong></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c88feab16c1c637e5f7c39eb4fb752f9\" data-align=\"center\" tg-width=\"649\" tg-height=\"368\"/><span></span></p><p style=\"text-align: left;\">他明确表示,<strong>英伟达当前及未来的大量需求并非来自终端客户,而是通过表外融资安排循环驱动,并援引2026年国际清算银行年度报告加以佐证。</strong>与此同时,他<strong>对特斯拉和Palantir的空头仓位保持不变,并继续持有纳斯达克100 ETF的看跌期权。</strong></p><p style=\"text-align: left;\">此次披露正值半导体板块承压之际。华尔街见闻文章此前写道,Burry此前曾表示,<a href=\"https://laohu8.com/S/SMSN.UK\">三星</a>和<a href=\"https://laohu8.com/S/SKHY\">SK海力士</a>公布的韩国半导体资本支出计划,是半导体行业景气周期"由盛转衰的开始",并预计半导体板块将面临约30%的回调,认为AI基础设施相关公司估值已严重偏高。</p><h2 style=\"text-align: left;\">扩大半导体空头:美光、英伟达、SOXX齐齐加码</h2><p style=\"text-align: left;\">Burry在Substack文章中披露,他以每股933.86美元的价格进一步做空美光科技,以210.28美元的价格增持英伟达空头仓位,并以535.83美元加仓SOXX空头。他表示,<strong>SOXX空头仓位与其持有的看跌期权合并计算,已构成其投资组合中的一个大型仓位。</strong></p><p style=\"text-align: left;\">在英伟达的做空逻辑上,Burry措辞直接。他表示,<strong>目前英伟达大量需求并非由真实终端客户驱动,相关需求的融资安排游离于资产负债表之外且未予披露,未来收入"大部分通过循环安排融资"</strong>。他援引2026年国际清算银行年度报告作为支撑依据。</p><p style=\"text-align: left;\">值得注意的是,这并非Burry首次出手做空美光。华尔街见闻文章写道,Burry此前曾在1051.87美元的价位做空美光,并表示"对这类情形的最终结局有相当清晰的了解",同时还增加了另外五个做空仓位。</p><p style=\"text-align: left;\"><strong>Burry对AI相关板块的看空,建立在对行业需求真实性的质疑之上。</strong>他认为,当前AI基础设施投资热潮中,大量资本开支并未对应真实的终端需求,而是通过不透明的融资结构自我循环,存在系统性高估风险。</p><p style=\"text-align: left;\">华尔街见闻文章此前写道,Burry预计半导体板块将面临约30%的回调,并将三星和SK海力士的资本支出扩张计划视为行业景气周期"由盛转衰的开始"。</p><p style=\"text-align: left;\">另外,在维持原有空头仓位方面,Burry表示<strong>尚未平仓特斯拉空头,并以轻描淡写的口吻称该仓位"自己在慢慢缩小"</strong>——暗示特斯拉股价下跌已令其空头仓位的名义规模自然收缩。他同时维持对Palantir的做空,并继续持有QQQ看跌期权,表明其对整体科技板块的看空立场未有松动。</p><p style=\"text-align: left;\">从今年以来的股价表现来看,Burry的部分空头押注面临一定压力。美光年内累计涨幅接近200%,英伟达上涨约10%。不过,Palantir、特斯拉和DraftKings年内均已下跌逾三成,分别录得约34%、33%和34%的跌幅,与Burry的看空方向基本吻合。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/839c9c1dcef2800f837df02e079a4f9c\" data-align=\"center\" tg-width=\"1910\" tg-height=\"1212\"/><span></span></p><p style=\"text-align: left;\">在做空AI的同时,Burry也在积极布局多头仓位,且方向集中于体育博彩领域。他以100.72美元买入"相当数量"的Flutter Entertainment,并以23.07美元买入DraftKings。</p><p style=\"text-align: left;\">Burry在文章中写道:"将FLUT和DKNG合并来看,作为对预测市场的一次押注,两者合计构成我较大的仓位之一。"此外,他还增持了<a href=\"https://laohu8.com/S/MOH\">Molina Healthcare</a>,买入价格为197.02美元。</p><p style=\"text-align: left;\">这一多头布局与其空头逻辑形成鲜明对比——在看空AI基础设施泡沫的同时,Burry将资金转向与科技热潮相关性较低的消费及医疗领域,折射出其对当前市场结构的整体判断。</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/623fa826a3925ac5d5f18b0f16bb748d","relate_stocks":{"LU2272731782.SGD":"Allianz Global Intelligent Cities AM Dis H2-SGD","DRMY":"XFUNDS Memory Income ETF","BK4585":"ETF&股票定投概念","LU0345768740.USD":"NINETY ONE GSF GLOBAL STRATEGIC MANAGED \"A\" (USD) INC","SG9999014914.USD":"UNITED GLOBAL QUALITY GROWTH (USDHDG) INC","LU1003077747.HKD":"BGF GLOBAL EQUITY INCOME \"A6\" (HKDHDG) INC","LU2272731600.USD":"Allianz Global Intelligent Cities AM Dis USD","LU0265550946.USD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A5\" (USD) INC","IE00BJJMRX11.SGD":"Janus Henderson Balanced A Acc SGD","LU2083900584.USD":"HSBC GIF US INCOME FOCUSED \"AM2\" (USD) INC","FTXL":"First Trust Nasdaq Semiconductor ETF","BK4587":"ChatGPT概念","SG9999015341.SGD":"United Income Focus Trust Acc 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ETF的看跌期权。此次披露正值半导体板块承压之际。华尔街见闻文章此前写道,Burry此前曾表示,三星和SK海力士公布的韩国半导体资本支出计划,是半导体行业景气周期\"由盛转衰的开始\",并预计半导体板块将面临约30%的回调,认为AI基础设施相关公司估值已严重偏高。扩大半导体空头:美光、英伟达、SOXX齐齐加码Burry在Substack文章中披露,他以每股933.86美元的价格进一步做空美光科技,以210.28美元的价格增持英伟达空头仓位,并以535.83美元加仓SOXX空头。他表示,SOXX空头仓位与其持有的看跌期权合并计算,已构成其投资组合中的一个大型仓位。在英伟达的做空逻辑上,Burry措辞直接。他表示,目前英伟达大量需求并非由真实终端客户驱动,相关需求的融资安排游离于资产负债表之外且未予披露,未来收入\"大部分通过循环安排融资\"。他援引2026年国际清算银行年度报告作为支撑依据。值得注意的是,这并非Burry首次出手做空美光。华尔街见闻文章写道,Burry此前曾在1051.87美元的价位做空美光,并表示\"对这类情形的最终结局有相当清晰的了解\",同时还增加了另外五个做空仓位。Burry对AI相关板块的看空,建立在对行业需求真实性的质疑之上。他认为,当前AI基础设施投资热潮中,大量资本开支并未对应真实的终端需求,而是通过不透明的融资结构自我循环,存在系统性高估风险。华尔街见闻文章此前写道,Burry预计半导体板块将面临约30%的回调,并将三星和SK海力士的资本支出扩张计划视为行业景气周期\"由盛转衰的开始\"。另外,在维持原有空头仓位方面,Burry表示尚未平仓特斯拉空头,并以轻描淡写的口吻称该仓位\"自己在慢慢缩小\"——暗示特斯拉股价下跌已令其空头仓位的名义规模自然收缩。他同时维持对Palantir的做空,并继续持有QQQ看跌期权,表明其对整体科技板块的看空立场未有松动。从今年以来的股价表现来看,Burry的部分空头押注面临一定压力。美光年内累计涨幅接近200%,英伟达上涨约10%。不过,Palantir、特斯拉和DraftKings年内均已下跌逾三成,分别录得约34%、33%和34%的跌幅,与Burry的看空方向基本吻合。在做空AI的同时,Burry也在积极布局多头仓位,且方向集中于体育博彩领域。他以100.72美元买入\"相当数量\"的Flutter Entertainment,并以23.07美元买入DraftKings。Burry在文章中写道:\"将FLUT和DKNG合并来看,作为对预测市场的一次押注,两者合计构成我较大的仓位之一。\"此外,他还增持了Molina Healthcare,买入价格为197.02美元。这一多头布局与其空头逻辑形成鲜明对比——在看空AI基础设施泡沫的同时,Burry将资金转向与科技热潮相关性较低的消费及医疗领域,折射出其对当前市场结构的整体判断。","news_type":1,"symbols_score_info":{"07788":0.6,"WISE":0.6,"09366":0.6,"TSLZ":0.6,"DIPS":0.6,"IETC":0.6,"NVYY":0.6,"SNVD.UK":0.6,"SOXX":0.6,"NVDG":0.6,"BAI":0.6,"TSII":0.6,"ODDS":0.6,"SNPE":0.6,"MUZ":0.6,"IXN":0.6,"XLK":0.6,"NVDB":0.6,"NVDQ":0.6,"TSLW":0.6,"TEST":0.6,"ANV":0.6,"TSL":0.6,"TSLI":0.6,"VGT":0.6,"ROM":0.6,"CGGO":0.6,"EFIV":0.6,"AIS":0.6,"NVDS.UK":0.6,"FTEC":0.6,"CNEQ":0.6,"TTEQ":0.6,"TESL":0.6,"PLTU":0.6,"PTIR":0.6,"VT":0.6,"MUYY":0.6,"CRSH":0.6,"TTXU":0.6,"LFGY":0.6,"TSLY":0.6,"NVD":0.6,"TSLP":0.6,"USXF":0.6,"ABFL":0.6,"NULC":0.6,"PLT":0.6,"TSLT":0.6,"NVDO":0.6,"2NVD.UK":0.6,"PLYY":0.6,"WLDR":0.6,"SOXY":0.6,"SMOG":0.6,"ESUM":0.6,"FDRV":0.6,"09766":0.6,"DKNX":0.6,"07388":0.6,"ESLG":0.6,"FXL":0.6,"PLTR":1.87,"TLA":0.6,"FTXL":0.6,"EGGY":0.6,"TRFK":0.6,"PLTW":0.6,"THMR":0.6,"AIFD":0.6,"TSYY":0.6,"NVII":0.6,"PSI":0.6,"NVDA":1.95,"AGOX":0.6,"EMSF":0.6,"TSLS":0.6,"TSLQ":0.6,"NVDW":0.6,"SOXQ":0.6,"DRAY":0.6,"SHOC":0.6,"FAI":0.6,"SMH":0.6,"3NVD.UK":0.6,"NVD3.UK":0.6,"MUD":0.6,"DKNG":1.84,"MULL":0.6,"WATS":0.6,"TSLR":0.6,"LEGR":0.6,"NVIW.SI":0.6,"BETZ":0.6,"PLTI":0.6,"07366":0.6,"TSLA":1.89,"PLOO":0.6,"NVDS":0.6,"NVDX":0.6,"PLTG":0.6,"GAMR":0.6,"TSLG":0.6,"HBMX":0.6,"EYES":0.6,"07766":0.6,"LIT":0.6,"CLSE":0.6,"CHPS":0.6,"TSDD":0.6,"AIQ":0.6,"NVD2.UK":0.6,"NVDD":0.6,"WUGI":0.6,"CHPX":0.6,"METV":0.6,"TEK":0.6,"IDRV":0.6,"DKUP":0.6,"MUU":0.6,"MIC":0.6,"SHLD":0.6,"SMHX":0.6,"JGRO":0.6,"PLTA":0.6,"DISK":0.6,"PLTD":0.6,"USD":0.6,"XNTK":0.6,"DRMY":0.6,"ILDR":0.6,"MU":1.94,"PLTZ":0.6,"IGV":0.6,"SPTE":0.6,"TYLG":0.6,"FDTX":0.6,"TSLO":0.6,"CMAG":0.6,"GUNZ":0.6,"NVDU":0.6,"BOBP":0.6,"WANT":0.6,"NVDY":0.6,"PLTY":0.6,"NVDL":0.6,"RULE":0.6,"AIPI":0.6}},"isVote":1,"tweetType":1,"viewCount":702,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":590309099836664,"gmtCreate":1785120105209,"gmtModify":1785120107510,"author":{"id":"4228385961123602","authorId":"4228385961123602","name":"HAKUBUN","avatar":"https://static.tigerbbs.com/97e39f638d455bd5828c866ff7fee9d7","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4228385961123602","idStr":"4228385961123602"},"themes":[],"title":"","htmlText":"嗯,伊朗越打越富,美国陷入绝境","listText":"嗯,伊朗越打越富,美国陷入绝境","text":"嗯,伊朗越打越富,美国陷入绝境","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/590309099836664","repostId":"2654663090","repostType":2,"repost":{"id":"2654663090","kind":"highlight","weMediaInfo":{"introduction":"追踪全球财经热点,精选影响您财富的资讯,投资理财必备神器!","home_visible":1,"media_name":"华尔街见闻","id":"1084101182","head_image":"https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e"},"pubTimestamp":1785103832,"share":"https://www.laohunote.com/m/news/2654663090?lang=zh_CN&edition=full","pubTime":"2026-07-27 06:10","market":"fut","language":"zh","title":"美伊暂停互袭!美方连续两晚停袭,伊军方:暂停对等打击","url":"https://stock-news.laohu8.com/highlight/detail?id=2654663090","media":"华尔街见闻","summary":"伊朗陆军发言人阿克拉米尼亚表示,伊朗现阶段采取的是“报复性威慑”战略,即通过实施对等打击,威慑美国不要继续违反其承诺,并迫使其遵守相关谅解备忘录。美国两名知情人士称,特朗普暂缓扩大对伊朗军事打击规模,原因是美方担忧战争升级或招致伊方更猛烈报复,进一步消耗五角大楼在中东地区的防空拦截弹储备。","content":"<html><head></head><body><blockquote><p>伊朗陆军发言人阿克拉米尼亚表示,伊朗现阶段采取的是“报复性威慑”战略,即通过实施对等打击,威慑美国不要继续违反其承诺,并迫使其遵守相关谅解备忘录。美国两名知情人士称,特朗普暂缓扩大对伊朗军事打击规模,原因是美方担忧战争升级或招致伊方更猛烈报复,进一步消耗五角大楼在中东地区的防空拦截弹储备。</p></blockquote><p style=\"text-align: justify;\">7月27日,美股三大股指期货高开,纳指期货涨1.17%,标普500指数期货涨0.64%,道琼斯指数期货涨0.52%;国际油价大跌,WTI原油期货跌5.09%,报84.76美元/桶;布伦特原油期货跌3.95%,报82.14美元/桶;现货黄金价格涨1%,报4093.90美元/盎司;现货白银价格涨2.34%,报59.54美元/盎司。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cd8443bad2bec4541fb5c473ff624379\" title=\"\" tg-width=\"402\" tg-height=\"327\"/></p><p>美伊军事冲突出现降温迹象。特朗普下令美军暂停持续近两周的对伊空袭,伊朗军方随即宣布相应停止对等打击,双方进入短暂休战窗口。</p><p style=\"text-align: justify;\">据CCTV国际时讯消息,据伊朗塔斯尼姆通讯社7月26日报道,伊朗陆军发言人阿克拉米尼亚表示,美方过去两晚停止对伊打击后,伊朗的对等打击行动也随之停止。他将伊朗当前策略定性为"报复性威慑"——通过对等打击迫使美国遵守相关谅解备忘录。</p><p style=\"text-align: justify;\">华尔街见闻文章此前写道,据央视记者获悉,当地时间7月25日,特朗普收到军方新的对伊作战计划后未予批准,直接下令当天暂停空袭,终止了此前持续13天的每日打击行动。两名知情人士透露,此举一方面意在为外交谈判留出空间,另一方面是特朗普判断,在不重启大规模军事行动的前提下,现有空袭已基本达到效果上限。</p><p style=\"text-align: justify;\">据央视新闻最新消息,当地时间25日,美国两名知情人士称,<strong>美国总统特朗普暂缓扩大对伊朗军事打击规模,原因是美方担忧战争升级或招致伊方更猛烈报复,进一步消耗五角大楼在中东地区的防空拦截弹储备。</strong></p><p style=\"text-align: justify;\">两名知情人士表示,特朗普24日与高级顾问和政府高级官员召开会议,聚焦五角大楼“爱国者”等防空弹药库存减少的问题。一名政府高官提及,伊朗弹道导弹日前突破美防空系统的防御,造成3名驻约旦美军士兵死亡。</p><h2 id=\"id_2578272913\">伊朗宣示对等战略,公布美军受损清单</h2><p style=\"text-align: justify;\">伊朗陆军发言人阿克拉米尼亚对此次互停打击给出了明确的战略解读。他表示,<strong>伊朗现阶段采取的是"报复性威慑"战略,核心逻辑是通过实施对等打击,威慑美国不要继续违反其承诺。</strong>他的表态将伊朗的停火定性为一种主动的战略选择,而非被动妥协。</p><p style=\"text-align: justify;\">与此同时,据伊朗伊斯兰共和国通讯社报道,伊朗伊斯兰革命卫队于当地时间7月25日晚公布了一份美军军事资产受损清单,称这是伊朗武装部队回应美国袭击期间对美军目标实施打击的结果。<strong>目前,这一清单尚未得到美国军方证实。</strong></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9d0673011b178fac2e48738960677613\" title=\"\" tg-width=\"627\" tg-height=\"604\"/></p><h2 id=\"id_4119090196\">伊朗军方警告地面战风险,称已备战各类情景</h2><p style=\"text-align: justify;\">据央视新闻,伊朗武装部队发言人谢卡尔奇26日表示,美国当前面临的局势"混乱且对其不利",美方在霍尔木兹海峡以及削弱伊朗方面"均未能实现既定目标"。</p><p style=\"text-align: justify;\">谢卡尔奇称,美方目前正在寻求新的战略,不排除退出战争的可能,但他强调,这"将取决于以色列方面是否同意"。他还指出,随着以色列总理内塔尼亚胡访问美国,<strong>未来伊朗可能面对空袭或地面军事行动等情景,</strong>而在地面战选项中,美国"将面临更大的脆弱性"。谢卡尔奇表示,伊朗已为各种可能出现的情况做好充分准备。</p><p style=\"text-align: justify;\">与此同时,CCTV国际时讯称,据伊朗媒体今天(7月26日)报道,伊朗陆军发言人阿克拉米尼亚也表示<strong>,美国可能的选择之一是退出战争,另一可能的选择是在以方压力下发动大规模空袭,还有一个选择是美国可能发动地面行动。伊朗将观察美国接下来有何举动,并已为各种可能做好准备。</strong></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3d018bba5f931c1132c4478a61c2ee36\" title=\"\" tg-width=\"621\" tg-height=\"552\"/></p><p style=\"text-align: justify;\">他还表示,目前战争涉及的地理范围已经扩展到曼德海峡,伊朗的行动也涵盖了从约旦到波斯湾沿岸各国的美军目标。</p><h2 id=\"id_84833622\">霍尔木兹海峡谈判取得进展,本周末或见分晓</h2><p style=\"text-align: justify;\">值得关注的是,伊朗外交部发言人巴加埃26日确认,24日至25日伊朗与阿曼在德黑兰举行多轮副外长级会谈,双方围绕确保霍尔木兹海峡船舶安全通行的共同原则和具体操作机制深入交换意见。</p><p style=\"text-align: justify;\">巴加埃称会谈"富有成效",并取得一定进展,阿曼代表团已于25日下午离开德黑兰,但双方将在技术和政治层面继续保持磋商。</p><p style=\"text-align: justify;\">华尔街见闻文章写道,据两名了解谈判情况的地区消息人士表示,阿曼与伊朗有望在本周末达成协议,届时特朗普将决定是否接受这一方案。</p><p style=\"text-align: justify;\">巴加埃同时指出,目前霍尔木兹海峡船舶通航状况尚未发生变化。霍尔木兹海峡是全球重要的石油运输通道,其通航安排的谈判进展,将是外界判断此轮美伊军事紧张能否转向实质性缓和的核心观察窗口。</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>美伊暂停互袭!美方连续两晚停袭,伊军方:暂停对等打击</title>\n<style 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margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n美伊暂停互袭!美方连续两晚停袭,伊军方:暂停对等打击\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1084101182\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">华尔街见闻 </p>\n<p class=\"h-time\">2026-07-27 06:10</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><blockquote><p>伊朗陆军发言人阿克拉米尼亚表示,伊朗现阶段采取的是“报复性威慑”战略,即通过实施对等打击,威慑美国不要继续违反其承诺,并迫使其遵守相关谅解备忘录。美国两名知情人士称,特朗普暂缓扩大对伊朗军事打击规模,原因是美方担忧战争升级或招致伊方更猛烈报复,进一步消耗五角大楼在中东地区的防空拦截弹储备。</p></blockquote><p style=\"text-align: justify;\">7月27日,美股三大股指期货高开,纳指期货涨1.17%,标普500指数期货涨0.64%,道琼斯指数期货涨0.52%;国际油价大跌,WTI原油期货跌5.09%,报84.76美元/桶;布伦特原油期货跌3.95%,报82.14美元/桶;现货黄金价格涨1%,报4093.90美元/盎司;现货白银价格涨2.34%,报59.54美元/盎司。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cd8443bad2bec4541fb5c473ff624379\" title=\"\" tg-width=\"402\" tg-height=\"327\"/></p><p>美伊军事冲突出现降温迹象。特朗普下令美军暂停持续近两周的对伊空袭,伊朗军方随即宣布相应停止对等打击,双方进入短暂休战窗口。</p><p style=\"text-align: justify;\">据CCTV国际时讯消息,据伊朗塔斯尼姆通讯社7月26日报道,伊朗陆军发言人阿克拉米尼亚表示,美方过去两晚停止对伊打击后,伊朗的对等打击行动也随之停止。他将伊朗当前策略定性为"报复性威慑"——通过对等打击迫使美国遵守相关谅解备忘录。</p><p style=\"text-align: justify;\">华尔街见闻文章此前写道,据央视记者获悉,当地时间7月25日,特朗普收到军方新的对伊作战计划后未予批准,直接下令当天暂停空袭,终止了此前持续13天的每日打击行动。两名知情人士透露,此举一方面意在为外交谈判留出空间,另一方面是特朗普判断,在不重启大规模军事行动的前提下,现有空袭已基本达到效果上限。</p><p style=\"text-align: justify;\">据央视新闻最新消息,当地时间25日,美国两名知情人士称,<strong>美国总统特朗普暂缓扩大对伊朗军事打击规模,原因是美方担忧战争升级或招致伊方更猛烈报复,进一步消耗五角大楼在中东地区的防空拦截弹储备。</strong></p><p style=\"text-align: justify;\">两名知情人士表示,特朗普24日与高级顾问和政府高级官员召开会议,聚焦五角大楼“爱国者”等防空弹药库存减少的问题。一名政府高官提及,伊朗弹道导弹日前突破美防空系统的防御,造成3名驻约旦美军士兵死亡。</p><h2 id=\"id_2578272913\">伊朗宣示对等战略,公布美军受损清单</h2><p style=\"text-align: justify;\">伊朗陆军发言人阿克拉米尼亚对此次互停打击给出了明确的战略解读。他表示,<strong>伊朗现阶段采取的是"报复性威慑"战略,核心逻辑是通过实施对等打击,威慑美国不要继续违反其承诺。</strong>他的表态将伊朗的停火定性为一种主动的战略选择,而非被动妥协。</p><p style=\"text-align: justify;\">与此同时,据伊朗伊斯兰共和国通讯社报道,伊朗伊斯兰革命卫队于当地时间7月25日晚公布了一份美军军事资产受损清单,称这是伊朗武装部队回应美国袭击期间对美军目标实施打击的结果。<strong>目前,这一清单尚未得到美国军方证实。</strong></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9d0673011b178fac2e48738960677613\" title=\"\" tg-width=\"627\" tg-height=\"604\"/></p><h2 id=\"id_4119090196\">伊朗军方警告地面战风险,称已备战各类情景</h2><p style=\"text-align: justify;\">据央视新闻,伊朗武装部队发言人谢卡尔奇26日表示,美国当前面临的局势"混乱且对其不利",美方在霍尔木兹海峡以及削弱伊朗方面"均未能实现既定目标"。</p><p style=\"text-align: justify;\">谢卡尔奇称,美方目前正在寻求新的战略,不排除退出战争的可能,但他强调,这"将取决于以色列方面是否同意"。他还指出,随着以色列总理内塔尼亚胡访问美国,<strong>未来伊朗可能面对空袭或地面军事行动等情景,</strong>而在地面战选项中,美国"将面临更大的脆弱性"。谢卡尔奇表示,伊朗已为各种可能出现的情况做好充分准备。</p><p style=\"text-align: justify;\">与此同时,CCTV国际时讯称,据伊朗媒体今天(7月26日)报道,伊朗陆军发言人阿克拉米尼亚也表示<strong>,美国可能的选择之一是退出战争,另一可能的选择是在以方压力下发动大规模空袭,还有一个选择是美国可能发动地面行动。伊朗将观察美国接下来有何举动,并已为各种可能做好准备。</strong></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3d018bba5f931c1132c4478a61c2ee36\" title=\"\" tg-width=\"621\" tg-height=\"552\"/></p><p style=\"text-align: justify;\">他还表示,目前战争涉及的地理范围已经扩展到曼德海峡,伊朗的行动也涵盖了从约旦到波斯湾沿岸各国的美军目标。</p><h2 id=\"id_84833622\">霍尔木兹海峡谈判取得进展,本周末或见分晓</h2><p style=\"text-align: justify;\">值得关注的是,伊朗外交部发言人巴加埃26日确认,24日至25日伊朗与阿曼在德黑兰举行多轮副外长级会谈,双方围绕确保霍尔木兹海峡船舶安全通行的共同原则和具体操作机制深入交换意见。</p><p style=\"text-align: justify;\">巴加埃称会谈"富有成效",并取得一定进展,阿曼代表团已于25日下午离开德黑兰,但双方将在技术和政治层面继续保持磋商。</p><p style=\"text-align: justify;\">华尔街见闻文章写道,据两名了解谈判情况的地区消息人士表示,阿曼与伊朗有望在本周末达成协议,届时特朗普将决定是否接受这一方案。</p><p style=\"text-align: justify;\">巴加埃同时指出,目前霍尔木兹海峡船舶通航状况尚未发生变化。霍尔木兹海峡是全球重要的石油运输通道,其通航安排的谈判进展,将是外界判断此轮美伊军事紧张能否转向实质性缓和的核心观察窗口。</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/cf8deb964fe83a788e7ae02a962af884","relate_stocks":{},"source_url":"https://wallstreetcn.com/articles/3777962","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2654663090","content_text":"伊朗陆军发言人阿克拉米尼亚表示,伊朗现阶段采取的是“报复性威慑”战略,即通过实施对等打击,威慑美国不要继续违反其承诺,并迫使其遵守相关谅解备忘录。美国两名知情人士称,特朗普暂缓扩大对伊朗军事打击规模,原因是美方担忧战争升级或招致伊方更猛烈报复,进一步消耗五角大楼在中东地区的防空拦截弹储备。7月27日,美股三大股指期货高开,纳指期货涨1.17%,标普500指数期货涨0.64%,道琼斯指数期货涨0.52%;国际油价大跌,WTI原油期货跌5.09%,报84.76美元/桶;布伦特原油期货跌3.95%,报82.14美元/桶;现货黄金价格涨1%,报4093.90美元/盎司;现货白银价格涨2.34%,报59.54美元/盎司。美伊军事冲突出现降温迹象。特朗普下令美军暂停持续近两周的对伊空袭,伊朗军方随即宣布相应停止对等打击,双方进入短暂休战窗口。据CCTV国际时讯消息,据伊朗塔斯尼姆通讯社7月26日报道,伊朗陆军发言人阿克拉米尼亚表示,美方过去两晚停止对伊打击后,伊朗的对等打击行动也随之停止。他将伊朗当前策略定性为\"报复性威慑\"——通过对等打击迫使美国遵守相关谅解备忘录。华尔街见闻文章此前写道,据央视记者获悉,当地时间7月25日,特朗普收到军方新的对伊作战计划后未予批准,直接下令当天暂停空袭,终止了此前持续13天的每日打击行动。两名知情人士透露,此举一方面意在为外交谈判留出空间,另一方面是特朗普判断,在不重启大规模军事行动的前提下,现有空袭已基本达到效果上限。据央视新闻最新消息,当地时间25日,美国两名知情人士称,美国总统特朗普暂缓扩大对伊朗军事打击规模,原因是美方担忧战争升级或招致伊方更猛烈报复,进一步消耗五角大楼在中东地区的防空拦截弹储备。两名知情人士表示,特朗普24日与高级顾问和政府高级官员召开会议,聚焦五角大楼“爱国者”等防空弹药库存减少的问题。一名政府高官提及,伊朗弹道导弹日前突破美防空系统的防御,造成3名驻约旦美军士兵死亡。伊朗宣示对等战略,公布美军受损清单伊朗陆军发言人阿克拉米尼亚对此次互停打击给出了明确的战略解读。他表示,伊朗现阶段采取的是\"报复性威慑\"战略,核心逻辑是通过实施对等打击,威慑美国不要继续违反其承诺。他的表态将伊朗的停火定性为一种主动的战略选择,而非被动妥协。与此同时,据伊朗伊斯兰共和国通讯社报道,伊朗伊斯兰革命卫队于当地时间7月25日晚公布了一份美军军事资产受损清单,称这是伊朗武装部队回应美国袭击期间对美军目标实施打击的结果。目前,这一清单尚未得到美国军方证实。伊朗军方警告地面战风险,称已备战各类情景据央视新闻,伊朗武装部队发言人谢卡尔奇26日表示,美国当前面临的局势\"混乱且对其不利\",美方在霍尔木兹海峡以及削弱伊朗方面\"均未能实现既定目标\"。谢卡尔奇称,美方目前正在寻求新的战略,不排除退出战争的可能,但他强调,这\"将取决于以色列方面是否同意\"。他还指出,随着以色列总理内塔尼亚胡访问美国,未来伊朗可能面对空袭或地面军事行动等情景,而在地面战选项中,美国\"将面临更大的脆弱性\"。谢卡尔奇表示,伊朗已为各种可能出现的情况做好充分准备。与此同时,CCTV国际时讯称,据伊朗媒体今天(7月26日)报道,伊朗陆军发言人阿克拉米尼亚也表示,美国可能的选择之一是退出战争,另一可能的选择是在以方压力下发动大规模空袭,还有一个选择是美国可能发动地面行动。伊朗将观察美国接下来有何举动,并已为各种可能做好准备。他还表示,目前战争涉及的地理范围已经扩展到曼德海峡,伊朗的行动也涵盖了从约旦到波斯湾沿岸各国的美军目标。霍尔木兹海峡谈判取得进展,本周末或见分晓值得关注的是,伊朗外交部发言人巴加埃26日确认,24日至25日伊朗与阿曼在德黑兰举行多轮副外长级会谈,双方围绕确保霍尔木兹海峡船舶安全通行的共同原则和具体操作机制深入交换意见。巴加埃称会谈\"富有成效\",并取得一定进展,阿曼代表团已于25日下午离开德黑兰,但双方将在技术和政治层面继续保持磋商。华尔街见闻文章写道,据两名了解谈判情况的地区消息人士表示,阿曼与伊朗有望在本周末达成协议,届时特朗普将决定是否接受这一方案。巴加埃同时指出,目前霍尔木兹海峡船舶通航状况尚未发生变化。霍尔木兹海峡是全球重要的石油运输通道,其通航安排的谈判进展,将是外界判断此轮美伊军事紧张能否转向实质性缓和的核心观察窗口。","news_type":1,"symbols_score_info":{"CLmain":2,"NQmain":2,"MNQ2612":2,"ESmain":2,"BZmain":2,"YMmain":2,"MNQ2603":2,"MNQmain":2}},"isVote":1,"tweetType":1,"viewCount":279,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":590127204377304,"gmtCreate":1785075531144,"gmtModify":1785075533198,"author":{"id":"4228385961123602","authorId":"4228385961123602","name":"HAKUBUN","avatar":"https://static.tigerbbs.com/97e39f638d455bd5828c866ff7fee9d7","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4228385961123602","idStr":"4228385961123602"},"themes":[],"title":"","htmlText":"信TACO得永生","listText":"信TACO得永生","text":"信TACO得永生","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/590127204377304","repostId":"2654057097","repostType":2,"repost":{"id":"2654057097","kind":"highlight","weMediaInfo":{"introduction":"追踪全球财经热点,精选影响您财富的资讯,投资理财必备神器!","home_visible":1,"media_name":"华尔街见闻","id":"1084101182","head_image":"https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e"},"pubTimestamp":1785027205,"share":"https://www.laohunote.com/m/news/2654057097?lang=zh_CN&edition=full","pubTime":"2026-07-26 08:53","market":"us","language":"zh","title":"特朗普下令暂停空袭伊朗","url":"https://stock-news.laohu8.com/highlight/detail?id=2654057097","media":"华尔街见闻","summary":"知情人士表示,此举旨在为外交谈判留出空间,阿曼代表团已赴德黑兰就重启霍尔木兹海峡通航展开谈判。然而,持续数月的冲突已致国际油价破百,特朗普正深陷进退两难的战略困境,高油价带来的经济代价更直接威胁共和党11月中期选举选情。","content":"<html><head></head><body><p style=\"text-align: left;\">美国总统特朗普在持续13天的空袭后突然踩下刹车,分析称,这一决定折射出他在这场旷日持久冲突中日益深重的战略困境。</p><p style=\"text-align: left;\">据央视新闻报道,当地时间7月25日,特朗普下令美军当天不对伊朗发动新的空袭,结束了此前连续近两周的每日打击行动。<strong>两名知情人士表示,此举一方面是为给外交谈判留出空间,另一方面是因为特朗普认为,在不重启大规模军事行动的情况下,现有空袭已基本达到效果上限。</strong>与此同时,阿曼代表团已抵达德黑兰,就重启霍尔木兹海峡通航展开谈判,<strong>知情人士称双方有望在本周末达成协议。</strong></p><p style=\"text-align: left;\">然而,<strong>这场冲突已远超特朗普最初的预期。</strong>这场美国与以色列于今年2月底联合发起的战争,如今已进入第五个月,布伦特原油价格本周四盘中突破每桶100美元,美国汽油价格随之攀升,令共和党在11月中期选举中的前景愈发黯淡。据媒体报道,民调显示,<strong>民主党在通用选票测试中已领先共和党11个百分点。</strong></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7c9fdd36d5ceee3c373e86e2627dbda8\" data-align=\"center\" tg-width=\"1024\" tg-height=\"651\"/><span></span></p><p style=\"text-align: left;\"></p><h2 style=\"text-align: left;\">暂停空袭:外交窗口还是战术调整</h2><p style=\"text-align: left;\">据央视新闻,特朗普此前每天都会批准军方提交的对伊朗打击方案,但25日收到新的作战计划后,并未批准执行,而是直接下令当天暂停空袭。<strong>目前尚不清楚这一决定是一天的临时安排,还是意味着军事行动将进入更长时间的暂停阶段。</strong></p><p style=\"text-align: left;\">美军仍在制定恢复大规模军事行动的预案,一旦特朗普下令,可在短时间内恢复打击。特朗普24日在白宫接受采访时表示,美国保留继续空袭乃至进一步升级的选项,"可以摧毁他们拥有的一切",但他同时强调,与伊朗"达成协议才是更聪明的策略"。他表示,美伊双方目前"正在进行对话",伊朗方面"一天比一天更认真"。</p><p style=\"text-align: left;\"><strong>暂停空袭的决定与外交进展几乎同步发生。</strong>央视新闻指出,据悉,特朗普下令暂停空袭前数小时,阿曼代表团已抵达德黑兰,就重启霍尔木兹海峡通航的新安排展开谈判。两<strong>名了解谈判情况的地区消息人士称,谈判已取得进展,阿曼与伊朗有望在本周末达成协议,届时特朗普将决定是否接受这一方案。</strong></p><p style=\"text-align: left;\">然而,<strong>谈判能否取得实质突破仍存在高度不确定性。</strong>据报道,也门胡塞武装对红海航运的袭击已开辟新的冲突战线,令霍尔木兹海峡替代航线的安全性受到质疑。分析人士Michael Knights表示:</p><blockquote><p style=\"text-align: left;\">"我认为我们正在进入一段美国与伊朗威胁网络之间持续升级的时期,双方都有能力将冲突维持数月之久。"</p></blockquote><p style=\"text-align: left;\">据悉,特朗普过去两周内提出了一系列解锁僵局的方案,包括宣布对霍尔木兹海峡过境船只征收20%通行费,随后在海湾盟友压力下撤回,以及提出动用没收的伊朗资金赔偿袭击损失,但均未提供具体细节。<strong>这些举措在外界看来更像是在寻找出路,而非展示战略定力。</strong></p><h2 style=\"text-align: left;\">战略困境:无路可退,无路可进</h2><p style=\"text-align: left;\">据媒体报道,卡内基国际和平基金会高级研究员Aaron David Miller将<strong>特朗普当前的处境描述为"一份全是坏选项的菜单"</strong>。撤退将带来政治上的难堪,升级则风险难以掌控,而此前由副总统万斯(<a href=\"https://laohu8.com/S/JD\">JD</a> Vance)、特使Steve Witkoff和女婿库什纳(Jared Kushner)主导的谈判,最终只换来一份脆弱的谅解备忘录。"如果你问我出路在哪里,我会告诉你,截至目前,我看不到,"Aaron David Miller说。</p><p style=\"text-align: left;\"><strong>这场冲突已成为特朗普执政的标志性困境。</strong>他在几乎所有公开场合都会提及这场战争,并频繁在社交媒体上发帖。特朗普曾在2024年竞选时承诺让美国远离海外战争,而如今他在一次活动上坦言,他打造了"世界上最强大的军队",并承认"我们使用它的频率比我预想的要多一些,但没关系"。</p><h2 style=\"text-align: left;\">经济代价:油价飙升,中期选举承压</h2><p style=\"text-align: left;\">布伦特原油价格本周突破每桶100美元,政治敏感度极高的美国汽油价格随之上涨,这对共和党在11月中期选举中的表现构成直接威胁。共和党盟友原本希望冲突能在此时趋于平息,以减轻其对选情的冲击。</p><p style=\"text-align: left;\"><strong>民调数据令共和党阵营忧虑。</strong>爱默生学院民调显示,民主党在通用选票测试中领先共和党11个百分点;福克斯新闻民调则显示,民主党在经济议题处理上领先9个百分点,而经济历来是特朗普的核心优势所在。特朗普本人也表示,若民主党夺回众议院,他预计将再度面临弹劾。</p><p style=\"text-align: left;\">与此同时,<strong>战争的资金来源问题悬而未决。</strong>一项补充拨款方案在国会几乎陷入停滞,迫使政府四处挪用资金,进一步加剧了行政当局与国会之间的紧张关系。报道称,特朗普几乎没有为该拨款方案积极拉票,而在能源价格高企的背景下,议员们也缺乏支持该方案的政治动力。</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>特朗普下令暂停空袭伊朗</title>\n<style 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margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n特朗普下令暂停空袭伊朗\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1084101182\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">华尔街见闻 </p>\n<p class=\"h-time\">2026-07-26 08:53</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p style=\"text-align: left;\">美国总统特朗普在持续13天的空袭后突然踩下刹车,分析称,这一决定折射出他在这场旷日持久冲突中日益深重的战略困境。</p><p style=\"text-align: left;\">据央视新闻报道,当地时间7月25日,特朗普下令美军当天不对伊朗发动新的空袭,结束了此前连续近两周的每日打击行动。<strong>两名知情人士表示,此举一方面是为给外交谈判留出空间,另一方面是因为特朗普认为,在不重启大规模军事行动的情况下,现有空袭已基本达到效果上限。</strong>与此同时,阿曼代表团已抵达德黑兰,就重启霍尔木兹海峡通航展开谈判,<strong>知情人士称双方有望在本周末达成协议。</strong></p><p style=\"text-align: left;\">然而,<strong>这场冲突已远超特朗普最初的预期。</strong>这场美国与以色列于今年2月底联合发起的战争,如今已进入第五个月,布伦特原油价格本周四盘中突破每桶100美元,美国汽油价格随之攀升,令共和党在11月中期选举中的前景愈发黯淡。据媒体报道,民调显示,<strong>民主党在通用选票测试中已领先共和党11个百分点。</strong></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7c9fdd36d5ceee3c373e86e2627dbda8\" data-align=\"center\" tg-width=\"1024\" tg-height=\"651\"/><span></span></p><p style=\"text-align: left;\"></p><h2 style=\"text-align: left;\">暂停空袭:外交窗口还是战术调整</h2><p style=\"text-align: left;\">据央视新闻,特朗普此前每天都会批准军方提交的对伊朗打击方案,但25日收到新的作战计划后,并未批准执行,而是直接下令当天暂停空袭。<strong>目前尚不清楚这一决定是一天的临时安排,还是意味着军事行动将进入更长时间的暂停阶段。</strong></p><p style=\"text-align: left;\">美军仍在制定恢复大规模军事行动的预案,一旦特朗普下令,可在短时间内恢复打击。特朗普24日在白宫接受采访时表示,美国保留继续空袭乃至进一步升级的选项,"可以摧毁他们拥有的一切",但他同时强调,与伊朗"达成协议才是更聪明的策略"。他表示,美伊双方目前"正在进行对话",伊朗方面"一天比一天更认真"。</p><p style=\"text-align: left;\"><strong>暂停空袭的决定与外交进展几乎同步发生。</strong>央视新闻指出,据悉,特朗普下令暂停空袭前数小时,阿曼代表团已抵达德黑兰,就重启霍尔木兹海峡通航的新安排展开谈判。两<strong>名了解谈判情况的地区消息人士称,谈判已取得进展,阿曼与伊朗有望在本周末达成协议,届时特朗普将决定是否接受这一方案。</strong></p><p style=\"text-align: left;\">然而,<strong>谈判能否取得实质突破仍存在高度不确定性。</strong>据报道,也门胡塞武装对红海航运的袭击已开辟新的冲突战线,令霍尔木兹海峡替代航线的安全性受到质疑。分析人士Michael Knights表示:</p><blockquote><p style=\"text-align: left;\">"我认为我们正在进入一段美国与伊朗威胁网络之间持续升级的时期,双方都有能力将冲突维持数月之久。"</p></blockquote><p style=\"text-align: left;\">据悉,特朗普过去两周内提出了一系列解锁僵局的方案,包括宣布对霍尔木兹海峡过境船只征收20%通行费,随后在海湾盟友压力下撤回,以及提出动用没收的伊朗资金赔偿袭击损失,但均未提供具体细节。<strong>这些举措在外界看来更像是在寻找出路,而非展示战略定力。</strong></p><h2 style=\"text-align: left;\">战略困境:无路可退,无路可进</h2><p style=\"text-align: left;\">据媒体报道,卡内基国际和平基金会高级研究员Aaron David Miller将<strong>特朗普当前的处境描述为"一份全是坏选项的菜单"</strong>。撤退将带来政治上的难堪,升级则风险难以掌控,而此前由副总统万斯(<a href=\"https://laohu8.com/S/JD\">JD</a> Vance)、特使Steve Witkoff和女婿库什纳(Jared Kushner)主导的谈判,最终只换来一份脆弱的谅解备忘录。"如果你问我出路在哪里,我会告诉你,截至目前,我看不到,"Aaron David Miller说。</p><p style=\"text-align: left;\"><strong>这场冲突已成为特朗普执政的标志性困境。</strong>他在几乎所有公开场合都会提及这场战争,并频繁在社交媒体上发帖。特朗普曾在2024年竞选时承诺让美国远离海外战争,而如今他在一次活动上坦言,他打造了"世界上最强大的军队",并承认"我们使用它的频率比我预想的要多一些,但没关系"。</p><h2 style=\"text-align: left;\">经济代价:油价飙升,中期选举承压</h2><p style=\"text-align: left;\">布伦特原油价格本周突破每桶100美元,政治敏感度极高的美国汽油价格随之上涨,这对共和党在11月中期选举中的表现构成直接威胁。共和党盟友原本希望冲突能在此时趋于平息,以减轻其对选情的冲击。</p><p style=\"text-align: left;\"><strong>民调数据令共和党阵营忧虑。</strong>爱默生学院民调显示,民主党在通用选票测试中领先共和党11个百分点;福克斯新闻民调则显示,民主党在经济议题处理上领先9个百分点,而经济历来是特朗普的核心优势所在。特朗普本人也表示,若民主党夺回众议院,他预计将再度面临弹劾。</p><p style=\"text-align: left;\">与此同时,<strong>战争的资金来源问题悬而未决。</strong>一项补充拨款方案在国会几乎陷入停滞,迫使政府四处挪用资金,进一步加剧了行政当局与国会之间的紧张关系。报道称,特朗普几乎没有为该拨款方案积极拉票,而在能源价格高企的背景下,议员们也缺乏支持该方案的政治动力。</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/4f1b28e69005d604db9995a21d898186","relate_stocks":{"VOO":"Vanguard标普500ETF","SPYH":"Neos S&P 500 Hedged Equity Income ETF","DOG":"道指ETF-ProShares做空","SPXS":"三倍做空标普500ETF-Direxion","IVV":"标普500ETF-iShares","DIA":"道琼斯ETF","SPYM":"投资组合标普500指数ETF-SPDR","SPUU":"Direxion Daily S&P 500 Bull 2x Shares","HIBL":"Direxion Daily S&P 500 High Beta Bull 3X Shares","SPXU":"三倍做空标普500ETF-ProShares","SPYQ":"2倍做多SPY Quarterly ETF-Tradr","SPDN":"Direxion Daily S&P 500 Bear 1X Shares","DDM":"2倍做多道指ETF-ProShares","SPY":"标普500ETF","SPYU":"MAX S&P 500 4X Leveraged ETN","SDOW":"三倍做空道指30ETF-ProShares","UDOW":"三倍做多道指30ETF-ProShares","UPRO":"三倍做多标普500ETF-ProShares","SSO":"2倍做多标普500ETF-ProShares","SMAX":"ISHARES LARGE CAP MAX BUFFER SEP ETF",".DJI":"道琼斯","SDS":"两倍做空标普500 ETF-ProShares","YSPY":"GraniteShares YieldBOOST SPY ETF",".IXIC":"NASDAQ Composite","DXD":"两倍做空道琼30指数ETF-ProShares","DMAX":"ISHARES LARGE CAP MAX BUFFER DEC ETF","SH":"做空标普500-Proshares","SPXL":"三倍做多标普500ETF-Direxion",".SPX":"S&P 500 Index","MMAX":"iShares Large Cap Max Buffer Mar ETF"},"source_url":"https://wallstreetcn.com/articles/3777934","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2654057097","content_text":"美国总统特朗普在持续13天的空袭后突然踩下刹车,分析称,这一决定折射出他在这场旷日持久冲突中日益深重的战略困境。据央视新闻报道,当地时间7月25日,特朗普下令美军当天不对伊朗发动新的空袭,结束了此前连续近两周的每日打击行动。两名知情人士表示,此举一方面是为给外交谈判留出空间,另一方面是因为特朗普认为,在不重启大规模军事行动的情况下,现有空袭已基本达到效果上限。与此同时,阿曼代表团已抵达德黑兰,就重启霍尔木兹海峡通航展开谈判,知情人士称双方有望在本周末达成协议。然而,这场冲突已远超特朗普最初的预期。这场美国与以色列于今年2月底联合发起的战争,如今已进入第五个月,布伦特原油价格本周四盘中突破每桶100美元,美国汽油价格随之攀升,令共和党在11月中期选举中的前景愈发黯淡。据媒体报道,民调显示,民主党在通用选票测试中已领先共和党11个百分点。暂停空袭:外交窗口还是战术调整据央视新闻,特朗普此前每天都会批准军方提交的对伊朗打击方案,但25日收到新的作战计划后,并未批准执行,而是直接下令当天暂停空袭。目前尚不清楚这一决定是一天的临时安排,还是意味着军事行动将进入更长时间的暂停阶段。美军仍在制定恢复大规模军事行动的预案,一旦特朗普下令,可在短时间内恢复打击。特朗普24日在白宫接受采访时表示,美国保留继续空袭乃至进一步升级的选项,\"可以摧毁他们拥有的一切\",但他同时强调,与伊朗\"达成协议才是更聪明的策略\"。他表示,美伊双方目前\"正在进行对话\",伊朗方面\"一天比一天更认真\"。暂停空袭的决定与外交进展几乎同步发生。央视新闻指出,据悉,特朗普下令暂停空袭前数小时,阿曼代表团已抵达德黑兰,就重启霍尔木兹海峡通航的新安排展开谈判。两名了解谈判情况的地区消息人士称,谈判已取得进展,阿曼与伊朗有望在本周末达成协议,届时特朗普将决定是否接受这一方案。然而,谈判能否取得实质突破仍存在高度不确定性。据报道,也门胡塞武装对红海航运的袭击已开辟新的冲突战线,令霍尔木兹海峡替代航线的安全性受到质疑。分析人士Michael Knights表示:\"我认为我们正在进入一段美国与伊朗威胁网络之间持续升级的时期,双方都有能力将冲突维持数月之久。\"据悉,特朗普过去两周内提出了一系列解锁僵局的方案,包括宣布对霍尔木兹海峡过境船只征收20%通行费,随后在海湾盟友压力下撤回,以及提出动用没收的伊朗资金赔偿袭击损失,但均未提供具体细节。这些举措在外界看来更像是在寻找出路,而非展示战略定力。战略困境:无路可退,无路可进据媒体报道,卡内基国际和平基金会高级研究员Aaron David Miller将特朗普当前的处境描述为\"一份全是坏选项的菜单\"。撤退将带来政治上的难堪,升级则风险难以掌控,而此前由副总统万斯(JD Vance)、特使Steve Witkoff和女婿库什纳(Jared Kushner)主导的谈判,最终只换来一份脆弱的谅解备忘录。\"如果你问我出路在哪里,我会告诉你,截至目前,我看不到,\"Aaron David Miller说。这场冲突已成为特朗普执政的标志性困境。他在几乎所有公开场合都会提及这场战争,并频繁在社交媒体上发帖。特朗普曾在2024年竞选时承诺让美国远离海外战争,而如今他在一次活动上坦言,他打造了\"世界上最强大的军队\",并承认\"我们使用它的频率比我预想的要多一些,但没关系\"。经济代价:油价飙升,中期选举承压布伦特原油价格本周突破每桶100美元,政治敏感度极高的美国汽油价格随之上涨,这对共和党在11月中期选举中的表现构成直接威胁。共和党盟友原本希望冲突能在此时趋于平息,以减轻其对选情的冲击。民调数据令共和党阵营忧虑。爱默生学院民调显示,民主党在通用选票测试中领先共和党11个百分点;福克斯新闻民调则显示,民主党在经济议题处理上领先9个百分点,而经济历来是特朗普的核心优势所在。特朗普本人也表示,若民主党夺回众议院,他预计将再度面临弹劾。与此同时,战争的资金来源问题悬而未决。一项补充拨款方案在国会几乎陷入停滞,迫使政府四处挪用资金,进一步加剧了行政当局与国会之间的紧张关系。报道称,特朗普几乎没有为该拨款方案积极拉票,而在能源价格高企的背景下,议员们也缺乏支持该方案的政治动力。","news_type":1,"symbols_score_info":{"SDS":0.6,"BZmain":2,"NQmain":2,"DDM":0.6,"VOO":0.6,"SMAX":0.6,"DXD":0.6,".DJI":2,"SPYU":0.6,"SPXL":0.6,"SPXS":0.6,".IXIC":2,"DMAX":0.6,"DOG":0.6,"HIBL":0.6,".SPX":2,"IVV":0.6,"YMmain":2,"SDOW":0.6,"SPUU":0.6,"SPYM":0.6,"SPDN":0.6,"SPYH":0.6,"MMAX":0.6,"SPYQ":0.6,"SPXU":0.6,"UDOW":0.6,"SH":0.6,"UPRO":0.6,"ESmain":2,"CLmain":2,"YSPY":0.6,"SPY":0.6,"DIA":0.6,"SSO":0.6}},"isVote":1,"tweetType":1,"viewCount":270,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":588654870897768,"gmtCreate":1784746007559,"gmtModify":1784746009658,"author":{"id":"4228385961123602","authorId":"4228385961123602","name":"HAKUBUN","avatar":"https://static.tigerbbs.com/97e39f638d455bd5828c866ff7fee9d7","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4228385961123602","idStr":"4228385961123602"},"themes":[],"title":"","htmlText":"再好的股票,只要被她一买。。。。。。。。。","listText":"再好的股票,只要被她一买。。。。。。。。。","text":"再好的股票,只要被她一买。。。。。。。。。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/588654870897768","repostId":"1109659125","repostType":2,"repost":{"id":"1109659125","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据,旨在帮助投资者理解世界,做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1784733768,"share":"https://www.laohunote.com/m/news/1109659125?lang=zh_CN&edition=full","pubTime":"2026-07-22 23:22","market":"us","language":"zh","title":"Cathie Wood称遭遇重挫的SpaceX有望成为“全球历史上最重要的公司”","url":"https://stock-news.laohu8.com/highlight/detail?id=1109659125","media":"老虎资讯综合","summary":"ARK Invest首席执行官凯茜·伍德为其基金持有的SpaceX股份进行辩护,并表示,尽管该股近期大幅下跌,且即将迎来价值1160亿美元的限售股解禁,但这家航空航天与卫星网络领域的先锋企业,仍有望成为“全球历史上最重要的公司”。周三SpaceX股价报约124美元。目前,SpaceX的市值已降至全球第八位,自上市以来首次落后于Meta。","content":"<html><head></head><body><p style=\"text-align: left;\">ARK Invest首席执行官凯茜·伍德(Cathie Wood)为其基金持有的SpaceX股份进行辩护,并表示,尽管该股近期大幅下跌,且即将迎来价值1160亿美元的限售股解禁,但这家航空航天与卫星网络领域的先锋企业,仍有望成为“全球历史上最重要的公司”。</p><p style=\"text-align: left;\">伍德周三在接受《Mornings with Maria》节目采访时解释了为何她依然看好SpaceX。此前,ARK Invest管理的基金在SpaceX上市后向该公司投资了8000万美元。</p><p style=\"text-align: left;\">伍德表示:“如果与历史高点相比,它(股价)确实下跌了,但当然,它仍高于IPO发行价。我们认为,这家公司有可能成为历史上最重要的公司,而且我指的是全球历史。”</p><p style=\"text-align: left;\">她说道:“我们谈论的不仅仅是探索一个全新的世界——宇宙——以及它强大的发射能力,并帮助其他机构实现太空探索;我们谈论的还有一个覆盖全球的通信网络。仔细想想,电信行业一直以来都是一个高度本地化的业务。事实上,过去想进入一个国家市场,通常需要收购当地的电信公司,而如今已经不再如此了。”</p><p style=\"text-align: left;\">周三SpaceX股价报约124美元。根据《巴伦周刊》(Barron's)的数据,该股较约225美元的历史高点已下跌约47%,市值蒸发接近1.4万亿美元。目前,SpaceX的市值已降至全球第八位,自上市以来首次落后于Meta。</p><p style=\"text-align: left;\"></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/952bdddaac5e96e7957a2ab44fc36fb1\" data-align=\"center\" tg-width=\"730\" tg-height=\"644\"/><span></span></p><p style=\"text-align: left;\">伍德此前在今年5月接受彭博社采访时曾表示,她预计SpaceX股价将会“波动剧烈”,但她同时称赞公司创始人埃隆·马斯克(Elon Musk)拥有“令人难以置信”的垂直整合能力,能够将包括特斯拉(Tesla)、xAI和Neuralink在内的各家公司形成协同效应。</p><p style=\"text-align: left;\">马斯克上周在社交平台X上发文警告投资者,不要试图做空SpaceX股票。他表示:“长期维持SpaceX大规模空头仓位的公司,最终能够存活下来的概率非常低。”</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Cathie Wood称遭遇重挫的SpaceX有望成为“全球历史上最重要的公司”</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCathie Wood称遭遇重挫的SpaceX有望成为“全球历史上最重要的公司”\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time\">2026-07-22 23:22</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p style=\"text-align: left;\">ARK Invest首席执行官凯茜·伍德(Cathie Wood)为其基金持有的SpaceX股份进行辩护,并表示,尽管该股近期大幅下跌,且即将迎来价值1160亿美元的限售股解禁,但这家航空航天与卫星网络领域的先锋企业,仍有望成为“全球历史上最重要的公司”。</p><p style=\"text-align: left;\">伍德周三在接受《Mornings with Maria》节目采访时解释了为何她依然看好SpaceX。此前,ARK Invest管理的基金在SpaceX上市后向该公司投资了8000万美元。</p><p style=\"text-align: left;\">伍德表示:“如果与历史高点相比,它(股价)确实下跌了,但当然,它仍高于IPO发行价。我们认为,这家公司有可能成为历史上最重要的公司,而且我指的是全球历史。”</p><p style=\"text-align: left;\">她说道:“我们谈论的不仅仅是探索一个全新的世界——宇宙——以及它强大的发射能力,并帮助其他机构实现太空探索;我们谈论的还有一个覆盖全球的通信网络。仔细想想,电信行业一直以来都是一个高度本地化的业务。事实上,过去想进入一个国家市场,通常需要收购当地的电信公司,而如今已经不再如此了。”</p><p style=\"text-align: left;\">周三SpaceX股价报约124美元。根据《巴伦周刊》(Barron's)的数据,该股较约225美元的历史高点已下跌约47%,市值蒸发接近1.4万亿美元。目前,SpaceX的市值已降至全球第八位,自上市以来首次落后于Meta。</p><p style=\"text-align: left;\"></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/952bdddaac5e96e7957a2ab44fc36fb1\" data-align=\"center\" tg-width=\"730\" tg-height=\"644\"/><span></span></p><p style=\"text-align: left;\">伍德此前在今年5月接受彭博社采访时曾表示,她预计SpaceX股价将会“波动剧烈”,但她同时称赞公司创始人埃隆·马斯克(Elon Musk)拥有“令人难以置信”的垂直整合能力,能够将包括特斯拉(Tesla)、xAI和Neuralink在内的各家公司形成协同效应。</p><p style=\"text-align: left;\">马斯克上周在社交平台X上发文警告投资者,不要试图做空SpaceX股票。他表示:“长期维持SpaceX大规模空头仓位的公司,最终能够存活下来的概率非常低。”</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/0fb0479ff67cd3a760cdce353bcb60ed","relate_stocks":{"SPAL":"2倍做多Space X ETF-GraniteShares","SPCM":"2倍做多SpaceX ETF-Tradr","SPCX":"SPAC and New Issue ETF","SNK":"2倍做空SpaceX ETF-GraniteShares","SPCG":"2倍做空SpaceX ETF-Tradr","SPCU":"2倍做多SpaceX ETF-Defiance","SPAX":"2倍做多SPACEX ETF-T-REX","SPCF":"2倍做多SpaceX ETF-ProShares","SPCQ":"2倍做空SpaceX ETF-Defiance","SSPC":"2倍做空SpaceX ETF-Leverage Shares","SPCH":"2倍做多SpaceX ETF-Leverage Shares","LOFF":"2倍做多SpaceX ETF-Direxion"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1109659125","content_text":"ARK Invest首席执行官凯茜·伍德(Cathie Wood)为其基金持有的SpaceX股份进行辩护,并表示,尽管该股近期大幅下跌,且即将迎来价值1160亿美元的限售股解禁,但这家航空航天与卫星网络领域的先锋企业,仍有望成为“全球历史上最重要的公司”。伍德周三在接受《Mornings with Maria》节目采访时解释了为何她依然看好SpaceX。此前,ARK Invest管理的基金在SpaceX上市后向该公司投资了8000万美元。伍德表示:“如果与历史高点相比,它(股价)确实下跌了,但当然,它仍高于IPO发行价。我们认为,这家公司有可能成为历史上最重要的公司,而且我指的是全球历史。”她说道:“我们谈论的不仅仅是探索一个全新的世界——宇宙——以及它强大的发射能力,并帮助其他机构实现太空探索;我们谈论的还有一个覆盖全球的通信网络。仔细想想,电信行业一直以来都是一个高度本地化的业务。事实上,过去想进入一个国家市场,通常需要收购当地的电信公司,而如今已经不再如此了。”周三SpaceX股价报约124美元。根据《巴伦周刊》(Barron's)的数据,该股较约225美元的历史高点已下跌约47%,市值蒸发接近1.4万亿美元。目前,SpaceX的市值已降至全球第八位,自上市以来首次落后于Meta。伍德此前在今年5月接受彭博社采访时曾表示,她预计SpaceX股价将会“波动剧烈”,但她同时称赞公司创始人埃隆·马斯克(Elon Musk)拥有“令人难以置信”的垂直整合能力,能够将包括特斯拉(Tesla)、xAI和Neuralink在内的各家公司形成协同效应。马斯克上周在社交平台X上发文警告投资者,不要试图做空SpaceX股票。他表示:“长期维持SpaceX大规模空头仓位的公司,最终能够存活下来的概率非常低。”","news_type":1,"symbols_score_info":{"SNK":0.6,"SPCH":0.6,"SPCF":0.6,"SPAL":0.6,"LOFF":0.6,"SPCM":0.6,"SPCG":0.6,"SPCQ":0.6,"SPCU":0.6,"SPCX":2,"SPAX":0.6,"SSPC":0.6}},"isVote":1,"tweetType":1,"viewCount":609,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":586888794837024,"gmtCreate":1784314910494,"gmtModify":1784314912792,"author":{"id":"4228385961123602","authorId":"4228385961123602","name":"HAKUBUN","avatar":"https://static.tigerbbs.com/97e39f638d455bd5828c866ff7fee9d7","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4228385961123602","idStr":"4228385961123602"},"themes":[],"title":"","htmlText":"大裤头胳膊肘朝外拐,做空美股看多港股","listText":"大裤头胳膊肘朝外拐,做空美股看多港股","text":"大裤头胳膊肘朝外拐,做空美股看多港股","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/586888794837024","repostId":"1115100821","repostType":2,"repost":{"id":"1115100821","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据,旨在帮助投资者理解世界,做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1784270294,"share":"https://www.laohunote.com/m/news/1115100821?lang=zh_CN&edition=full","pubTime":"2026-07-17 14:38","market":"us","language":"zh","title":"“大空头”Michael Burry重磅发声:现在正是发掘香港市场低估值股票的绝佳时机","url":"https://stock-news.laohu8.com/highlight/detail?id=1115100821","media":"老虎资讯综合","summary":"因电影《大空头/沽注一掷》(The Big Short)而闻名的投资者迈克尔·伯里(Michael Burry)表示,在今年全球人工智能(AI)热潮推动市场上涨之际,香港股市表现落后于其他市场,因此现在是寻找香港股票投资机会的好时机。伯里是投资公司 Scion Asset Management 的创始人。他周五在社交平台 X 上发文称:“现在尤其是一个关注香港市场的好时机,可以寻找那些价格便宜、并且在韩国、日本以及半导体指数(SOXX)的光环逐渐消退后,有望表现良好的股票。”伯里本月早些时候曾表示,他已经增持了京东的股票。","content":"<html><head></head><body><p style=\"text-align: left;\"></p><p class=\"t-img-caption\"><img alt=\"https://images.openai.com/static-rsc-4/9qbVhpqvMMa52meZZ9uPaWeYQWh3pFfe1z0W5iE4RVo9epFZmFDMCLerBGNCdGUERnuF8KREB14e-F1vO4SDsht14eBGfKeRRSxhwMLCIUmMw3t5XvpXlc-BHoMoWfGYyGcHKFNV58IvhSjIR5lDGwnxO3Re7ZTH217bJGX-nykJGJpggUr2kSv7hnM8fTe9?purpose=fullsize\" src=\"https://community-static.tradeup.com/news/02242d5f721b03942e30ae0a58a01b5b\" data-align=\"center\" tg-width=\"1075\" tg-height=\"740\"/><span></span></p><p style=\"text-align: left;\">因电影《大空头/沽注一掷》(The Big Short)而闻名的投资者迈克尔·伯里(Michael Burry)表示,在今年全球人工智能(AI)热潮推动市场上涨之际,香港股市表现落后于其他市场,因此现在是寻找香港股票投资机会的好时机。</p><p style=\"text-align: left;\">伯里是投资公司 Scion Asset Management 的创始人。他周五在社交平台上发文称:</p><p style=\"text-align: left;\">“现在尤其是一个关注香港市场的好时机,可以寻找那些价格便宜、并且在韩国、日本以及半导体指数(SOXX)的光环逐渐消退后,有望表现良好的股票。”</p><p style=\"text-align: left;\">伯里本月早些时候曾表示,他已经增持了京东的股票。</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/cedd9a38974ac59fb6ad2d2f3ae2c862\" data-align=\"center\" tg-width=\"1180\" tg-height=\"294\"/><span></span></p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>“大空头”Michael Burry重磅发声:现在正是发掘香港市场低估值股票的绝佳时机</title>\n<style 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margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n“大空头”Michael Burry重磅发声:现在正是发掘香港市场低估值股票的绝佳时机\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time\">2026-07-17 14:38</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p style=\"text-align: left;\"></p><p class=\"t-img-caption\"><img alt=\"https://images.openai.com/static-rsc-4/9qbVhpqvMMa52meZZ9uPaWeYQWh3pFfe1z0W5iE4RVo9epFZmFDMCLerBGNCdGUERnuF8KREB14e-F1vO4SDsht14eBGfKeRRSxhwMLCIUmMw3t5XvpXlc-BHoMoWfGYyGcHKFNV58IvhSjIR5lDGwnxO3Re7ZTH217bJGX-nykJGJpggUr2kSv7hnM8fTe9?purpose=fullsize\" src=\"https://community-static.tradeup.com/news/02242d5f721b03942e30ae0a58a01b5b\" data-align=\"center\" tg-width=\"1075\" tg-height=\"740\"/><span></span></p><p style=\"text-align: left;\">因电影《大空头/沽注一掷》(The Big Short)而闻名的投资者迈克尔·伯里(Michael Burry)表示,在今年全球人工智能(AI)热潮推动市场上涨之际,香港股市表现落后于其他市场,因此现在是寻找香港股票投资机会的好时机。</p><p style=\"text-align: left;\">伯里是投资公司 Scion Asset Management 的创始人。他周五在社交平台上发文称:</p><p style=\"text-align: left;\">“现在尤其是一个关注香港市场的好时机,可以寻找那些价格便宜、并且在韩国、日本以及半导体指数(SOXX)的光环逐渐消退后,有望表现良好的股票。”</p><p style=\"text-align: left;\">伯里本月早些时候曾表示,他已经增持了京东的股票。</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/cedd9a38974ac59fb6ad2d2f3ae2c862\" data-align=\"center\" tg-width=\"1180\" tg-height=\"294\"/><span></span></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://community-static.tradeup.com/news/02242d5f721b03942e30ae0a58a01b5b","relate_stocks":{"82800":"盈富基金-R","82828":"恒生中国企业-R","83115":"安硕恒生指数—R","03088":"华夏恒生科技","07226":"南方两倍做多恒科","09618":"京东集团-SW","07288":"FL二南方国指","03033":"南方恒生科技","03416":"AGX国指兑","09088":"华夏恒生科技-U","03423":"招商恒生科技","09067":"安硕恒生科技-U","07552":"南方两倍做空恒科","07200":"南方两倍做多恒指","07300":"FI南方恒指","03037":"南方恒指ETF","07588":"FI二南方国指","HSCEI":"国企指数","02837":"GX恒生科技","09115":"安硕恒生指数—U","HSI":"恒生指数","02800":"盈富基金","03067":"安硕恒生科技","03419":"A GX恒指备兑","HSTECH":"恒生科技指数","03115":"安硕恒生指数","02828":"恒生中国企业","03417":"AGX恒科备兑","07500":"南方两倍做空恒指","03032":"恒生科技ETF"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1115100821","content_text":"因电影《大空头/沽注一掷》(The Big Short)而闻名的投资者迈克尔·伯里(Michael Burry)表示,在今年全球人工智能(AI)热潮推动市场上涨之际,香港股市表现落后于其他市场,因此现在是寻找香港股票投资机会的好时机。伯里是投资公司 Scion Asset Management 的创始人。他周五在社交平台上发文称:“现在尤其是一个关注香港市场的好时机,可以寻找那些价格便宜、并且在韩国、日本以及半导体指数(SOXX)的光环逐渐消退后,有望表现良好的股票。”伯里本月早些时候曾表示,他已经增持了京东的股票。","news_type":1,"symbols_score_info":{"82800":0.6,"82828":0.6,"83115":0.6,"07226":0.6,"09115":0.6,"03088":0.6,"07288":0.6,"03032":0.6,"03417":0.6,"HSI":2,"03115":0.6,"03416":0.6,"07300":0.6,"07500":0.6,"02828":0.6,"03067":0.6,"07588":0.6,"03419":0.6,"HSCEI":2,"07552":0.6,"09067":0.6,"03423":0.6,"HSTECH":2,"03033":0.6,"09618":2,"02837":0.6,"09088":0.6,"07200":0.6,"02800":0.6,"03037":0.6}},"isVote":1,"tweetType":1,"viewCount":560,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":586419742803512,"gmtCreate":1784200394422,"gmtModify":1784200396277,"author":{"id":"4228385961123602","authorId":"4228385961123602","name":"HAKUBUN","avatar":"https://static.tigerbbs.com/97e39f638d455bd5828c866ff7fee9d7","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4228385961123602","idStr":"4228385961123602"},"themes":[],"title":"","htmlText":"非要一口饭吃个胖子,这下爽了吧 ,不管是什么标的,只要有韩国人在大量买进,那就要小心了","listText":"非要一口饭吃个胖子,这下爽了吧 ,不管是什么标的,只要有韩国人在大量买进,那就要小心了","text":"非要一口饭吃个胖子,这下爽了吧 ,不管是什么标的,只要有韩国人在大量买进,那就要小心了","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/586419742803512","repostId":"1158470736","repostType":2,"repost":{"id":"1158470736","kind":"news","pubTimestamp":1784199107,"share":"https://www.laohunote.com/m/news/1158470736?lang=zh_CN&edition=full","pubTime":"2026-07-16 18:51","market":"us","language":"zh","title":"32万个账户归零之后——韩国去杠杆走到哪了?","url":"https://stock-news.laohu8.com/highlight/detail?id=1158470736","media":"华尔街见闻","summary":"去杠杆的进度条大概在30%到40%。真正的脆弱不在已经爆掉的仓位上,而在那些份额没动、弹药却已经见底的账户里。下一个关键节点将是SK海力士Q2完整财报和下半年指引。如果基本面也出现明确转向信号,杠杆出清和估值下修会同时加速。那才是真正难熬的一段。","content":"<html><head></head><body><p style=\"text-align: left;\">"我后悔没有拼尽全力阻止。"</p><p style=\"text-align: justify;\"><span>7月13日KOSPI暴跌近9%之后,韩国金融监督院院长李灿镇说出了这句话。三个交易日后,由FSC、财政部、央行、FSS组成的F4协调机制拿出了答案。</span></p><p style=\"text-align: justify;\"><span>7月16日,一揽子杠杆ETF管控措施落地:暂停新上市、保证金从1000万提至3000万韩元、限购20股、禁止广告。</span></p><p style=\"text-align: justify;\"><span>同一天上午,韩国央行宣布加息25个基点至2.75%,三年半来首次紧缩。</span></p><p style=\"text-align: justify;\"><span>救市和紧缩在同一个上午发布。当天KOSPI跌6.37%,SK海力士跌11.53%。</span></p><p style=\"text-align: justify;\">李灿镇那句"后悔没有尽全力阻止",与其说是忏悔,不如说是预告——两个月前自己放出来的杠杆猛兽,没那么容易关回去。</p><h2 style=\"text-align: left; padding-left: 10px;\"><span><strong>32万个账户归零之后,监管终于来了</strong></span></h2><p style=\"text-align: justify;\"><span>5月27日,韩国一口气推出16只挂钩三星和SK海力士的2倍杠杆ETF。韩国股市今年是全球表现最亮眼的市场,监管的逻辑简单粗暴——让老百姓加杠杆,共享AI国运。两个月内,散户在这批产品上净买入13.67万亿韩元。</span></p><p style=\"text-align: justify;\"><span>6月22日,KOSPI创下历史新高,年内涨了116%。</span></p><p style=\"text-align: justify;\"><span>然后,杠杆开始反向运转了。</span></p><p style=\"text-align: justify;\"><span>7月13日,KOSPI暴跌8.95%,SK海力士跌15.37%——这家存储巨头的历史最大单日跌幅。三星跌10.7%。当天全市场强制平仓3442亿韩元,创年内纪录。</span></p><p style=\"text-align: justify;\"><span>7月14日,FSC主席李亿源公开表态:"后悔没有尽全力阻止。"财政部、FSC、央行、FSS组成的F4协调机制正式介入,要求各资管公司提交波动抑制方案。</span></p><p style=\"text-align: justify;\"><span>7月15日,总统李在明亲自点名三星和SK海力士的杠杆ETF,要求"迅速妥善制定对策"。KOSPI当天反弹6.24%——有人赌政策底到了。</span></p><p style=\"text-align: justify;\"><span>7月16日,答案来了。六条措施:</span></p><blockquote><p style=\"text-align: justify;\"><span>暂停新的单一股票杠杆ETF上市</span></p><p style=\"text-align: justify;\"><span>最低保证金从1000万提至3000万韩元,仅认现金(8月5日起)</span></p><p style=\"text-align: justify;\"><span>最小交易单位从1股改为20股(11月起)</span></p><p style=\"text-align: justify;\"><span>追踪偏离度管理从3%收紧至2%</span></p><p style=\"text-align: justify;\"><span>投资者培训从2小时延至3小时</span></p><p style=\"text-align: justify;\"><span>禁止现有产品投放广告</span></p></blockquote><p style=\"text-align: justify;\"><strong>这些措施全部指向一个方向:提高门槛、降低成交、切断营销。但没有一条触及存量。</strong></p><p style=\"text-align: justify;\"><span>FSC拒绝暂停现有产品的交易。李亿源说那会"造成更大的副作用"。</span></p><p style=\"text-align: justify;\"><strong>翻译过来很简单:产品有问题,但不打算关掉。历史有参照——2023年CFD整顿用了几个月,ELS收紧花了一两年。杠杆ETF的体量更大,选的还是老路。</strong></p><h2 style=\"text-align: left; padding-left: 10px;\"><span><strong>第一道坎:融资余额还有至少7万亿要还</strong></span></h2><p style=\"text-align: justify;\"><span>韩国股市融资余额1月时是27.4万亿韩元。6月24日KOSPI见顶,飙到38.6万亿。到7月14日,回落至34.7万亿——从峰值降了3.9万亿。</span></p><p style=\"text-align: justify;\"><span>3.9万亿听着不少。但回到1月的正常水位,至少还有7万亿要消化。而且这3.9万亿里,多少是主动卸杠杆、多少只是持仓市值蒸发导致的被动收缩,没人分得清。</span></p><p style=\"text-align: justify;\"><span>强制平仓的速度没有放缓。在加速。</span></p><p style=\"text-align: justify;\"><span>3月:5508亿韩元。5月:7077亿。6月:1.12万亿。7月前14天:4736亿——照这个节奏,全月破1.3万亿。5月至7月14日累计强平2.3万亿韩元(约104亿人民币)。</span></p><p style=\"text-align: justify;\"><strong>这个正反馈还没有被打破</strong><span><strong>:</strong>账户亏损 → 保证金不足 → 券商强平 → 价格再跌 → 更多账户触发追保 → 新一轮强平。韩国的机制是——结算资金若不足,券商可在3个交易日后直接以低价处理持仓,散户没有还手之力。</span></p><p style=\"text-align: justify;\"><strong>融资余额能不能降,取决于两件事。股价稳不稳住。散户还有没有钱补仓。</strong></p><h2 style=\"text-align: left; padding-left: 10px;\"><span><strong>第二道坎:杠杆ETF净值腰斩,但没人在赎回</strong></span></h2><p style=\"text-align: justify;\"><span>16只杠杆ETF才是本轮风暴最特殊的地方。</span></p><p style=\"text-align: justify;\"><span>高盛在7月14日报告里讲得很直白:此轮下跌"与基本面驱动因素出现明显脱节",真正的元凶是杠杆ETF遭遇快速去杠杆,触发了"自我强化的连锁清算"。</span></p><p style=\"text-align: justify;\"><span>机制本身不复杂。2倍杠杆ETF每天收盘前必须再平衡——涨了加仓,跌了减仓。韩国资本市场研究院估算,<strong>自5月上市以来,这批ETF每日再平衡交易在7000亿至2.1万亿韩元,全部压在收盘时段。</strong></span></p><p style=\"text-align: justify;\"><span>所以市场里出现了产品结构自己制造的"空头伽马":<strong>下跌触发被动减仓,被动减仓加剧下跌,再触发更多被动减仓。</strong></span></p><p style=\"text-align: justify;\"><span>到7月15日,16只杠杆ETF资产规模约12.4万亿韩元,较6月25日高点腰斩超过五成。</span><strong>这个腰斩几乎全部来自净值缩水,而非份额赎回。</strong><span> 华泰证券李雨婕指出,产品份额端"仅是扩张速度减慢,并没有出现份额的大幅回落"。</span></p><p style=\"text-align: justify;\"><span>份额不动,意味着杠杆的结构性底盘还在。净值跌了、绝对规模小了、再平衡的边际冲击在递减——但持仓没有真正出清。只要产品还在,算法还在每天调仓,去杠杆就只是减速,不是结束。</span></p><p style=\"text-align: justify;\"><span>散户自己的行为也印证这一点。KODEX SK海力士杠杆ETF,上市以来散户净买入4.73万亿韩元。SK海力士自6月25日高点跌了28.62%,期间散户仍在净买入1.55万亿。直到7月14、15日才出现两日净卖出,合计4744亿韩元。跟4.73万亿的累计买入比,这点卖盘微不足道。</span></p><p style=\"text-align: justify;\"><span>他们没想卖。是被迫在卖。而且才刚开始。</span></p><h2 style=\"text-align: left; padding-left: 10px;\"><span><strong>第三道坎:弹药已经见底了</strong></span></h2><p style=\"text-align: justify;\"><span>韩国金融投资协会数据显示,截至7月10日,散户证券账户的待命资金降至105万亿韩元。6月初是139.69万亿——一个月少了34万亿,约1550亿人民币。</span></p><p style=\"text-align: justify;\"><span>钱去哪了?一部分跌没了,一部分补仓用掉了。不管哪种,结果一样:弹药库在快速见底。</span></p><p style=\"text-align: justify;\"><span>这件事比融资余额下降更麻烦。融资余额降了至少说明杠杆在出清。弹药空了意味着什么?下一轮暴跌,散户连追保的钱都拿不出。强平会比上一轮来得更快、砸得更深。</span></p><p style=\"text-align: justify;\"><span>韩国保证金比例最低40%,最高杠杆2.5倍。三星和SK海力士约45%的保证金比例,正股跌17.5%就触发追保。没钱补,券商直接平仓。</span></p><p style=\"text-align: justify;\"><span>招商证券李昊阳给了一组对比:韩国初始保证金最低40%,美国50%,中国100%。波动承受力天然不在一个量级。120万个杠杆账户同时触及追保线的时候,已经不是个体爆仓——是系统在清盘。</span></p><p style=\"text-align: justify;\"><span>已有32万至46万个账户被全额强平,本金归零。有的甚至倒欠券商钱。</span></p><p style=\"text-align: justify;\"><span>7月13日单日强平3442亿韩元,年内最高。今天KOSPI又跌6.37%。明天公布的数据会是多少,没人猜得到。</span></p><h2 style=\"text-align: left; padding-left: 10px;\"><span><strong>为什么这一次的进度条会更长</strong></span></h2><p style=\"text-align: justify;\"><span>韩国不是第一次被散户杠杆反噬。但这轮有三件事和之前不一样。</span></p><p style=\"text-align: justify;\"><span>杠杆工具的结构变了。2023年CFD危机是合约层加杠杆,后来的ELS危机是结构化产品。单股2倍杠杆ETF不一样——它的再平衡机制是算法驱动的,每天必做,不可协商。没人能拍板说"今天不调了"。产品在交易,调仓就在发生。</span></p><p style=\"text-align: justify;\"><span>估值锚在动摇。以前纯杠杆踩踏时,底层资产的基本面通常是清楚的,只是杠杆放大了波动。这一轮不同。SK海力士Q2利润可能低于预期的消息在发酵。纽约州7月14日签署了全美首个数据中心建设禁令,禁止50兆瓦以上项目一年。AI云服务商CoreWeave正在探索用看跌期权对冲存储芯片价格下跌风险。巴菲特7月15日接受CNBC专访,说股市已经沦为"附带赌场的教堂"。存储芯片的周期性正从担忧变成数据。杠杆产品叠加上基本面转向,伤害是乘法,不是加法。</span></p><p style=\"text-align: justify;\"><span>韩国央行在今天加息了。三年半来首次,从2.50%到2.75%。FSC在给市场打补丁,央行在收紧流动性——两道力方向相反。加息直接压科技股估值,同时抬高融资成本。在去杠杆走到一半的时候加息,等于一边输血,一边又开了口子。</span></p><p style=\"text-align: justify;\"><span>也不是没有正面因素。杠杆ETF规模已腰斩,尾盘再平衡对市场的冲击在变小。韩元加息后走强,收于1480.4,升4.3韩元,韩美利差收窄,外资流出压力有所缓解。</span></p><p style=\"text-align: justify;\"><span>但这些是减震,不是转向。</span></p><h2 style=\"text-align: left; padding-left: 10px;\"><span><strong>三个信号,判断去杠杆是不是真的结束了</strong></span></h2><p style=\"text-align: justify;\"><span>融资余额稳定在30万亿以下,且不是因为持仓缩水被动降下来的。当前34.7万亿到27至30万亿的正常区间,至少还有5到7万亿的距离。健康的去杠杆是融资买入量萎缩,不是强平量飙升——现在恰恰相反。</span></p><p style=\"text-align: justify;\"><span>杠杆ETF份额开始实质性赎回。净值跌一半没关系,份额缩了才是真出清。盯着韩国交易所每日公布的ETF份额,比盯着KOSPI有用。</span></p><p style=\"text-align: justify;\"><span>待命资金止跌,且散户亏损面开始收窄。105万亿如果继续往下走,下一次波动的缓冲垫比这一轮还薄。现在"热门50股里73%散户亏钱、25只亏损率超80%",这种局面不变,散户的心理账户不会允许新钱入场。</span></p><p style=\"text-align: justify;\"><span>有人总结得干脆:"融资余额下降的同时,强制平仓金额持续回落、投资者账户资金趋于稳定——三个条件同时满足,才算风险出清。"目前一个都没到。</span></p><h2 style=\"text-align: left; padding-left: 10px;\"><span><strong>资产影响落点</strong></span></h2><p style=\"text-align: justify;\"><span>SK海力士是最纯粹的去杠杆温度计。散户和杠杆ETF持仓最集中,波动也最剧烈。今天跌11.53%到184.2万韩元,ADR在美股跌9%到176.46美元。去杠杆往前走一步,它最先承压;退一步,也最先弹起来。</span></p><p style=\"text-align: justify;\"><span>三星电子烈度略低,但体量摆在那。今天跌8.77%到25.5万韩元。KOSPI第一权重一动,整个市场的杠杆率和追保触发跟着动。</span></p><p style=\"text-align: justify;\"><span>存储链的传导不需要拐弯:韩股去杠杆 → SK海力士ADR被抛 → 美光和西部数据跟跌。这轮5到7月的全球芯片股联动已经跑通了整条路径。韩国去杠杆不是孤立事件——它是全球AI交易里最薄的那块板。</span></p><p style=\"text-align: justify;\"><span>KOSPI波动率指数从去年12月涨了281.8%。去杠杆没走完之前,这个数字降不下来。</span></p><p style=\"text-align: justify;\"><span>韩元是个意外。央行在市场暴跌日加息,短期压住了股市,但锁住了利差——韩元今天升值了。只要守在1500以下,外资流出压力就有缓解的可能。这是去杠杆过程中少有的正面推手。</span></p><p style=\"text-align: justify;\"><span>各项数据指向同一个结论:<strong>去杠杆的进度条大概在30%到40%。真正的脆弱不在已经爆掉的仓位上,在那些份额没动、弹药却已经见底的账户里。下一根阴线来的时候,没有缓冲垫。</strong></span></p><p style=\"text-align: justify;\"><span>下一个关键节点:SK海力士Q2完整财报和下半年指引。如果基本面也出现明确转向信号,杠杆出清和估值下修会同时加速。那才是真正难熬的一段。</span></p></body></html>","source":"lsy1762389672944","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta 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color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n32万个账户归零之后——韩国去杠杆走到哪了?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-07-16 18:51 北京时间 <a href=https://wallstreetcn.com/articles/3777115><strong>华尔街见闻</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>\"我后悔没有拼尽全力阻止。\"7月13日KOSPI暴跌近9%之后,韩国金融监督院院长李灿镇说出了这句话。三个交易日后,由FSC、财政部、央行、FSS组成的F4协调机制拿出了答案。7月16日,一揽子杠杆ETF管控措施落地:暂停新上市、保证金从1000万提至3000万韩元、限购20股、禁止广告。同一天上午,韩国央行宣布加息25个基点至2.75%,三年半来首次紧缩。救市和紧缩在同一个上午发布。当天...</p>\n\n<a href=\"https://wallstreetcn.com/articles/3777115\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/493f6c627943328e024aa790abf4c4cf","relate_stocks":{"GRVY":"重力社","SK":"2倍做多海力士ETF-Corgi","KPOP":"KPOP AND KOREAN ENTERTAINMENT ETF","SKM":"韩国SK电信","KT":"韩国电信","SKDD":"2倍做空海力士ETF-GraniteShares","SKUU":"2倍做多海力士ETF-GraniteShares","KDEF":"PLUS Korea Defense Industry Index ETF","KF":"韩国基金","SKHY":"SK海力士","SHG":"新韩金融","KB":"韩国国民银行","KEP":"韩国电力","CPNG":"Coupang, Inc.","EWY":"韩国ETF-iShares MSCI","SKHU":"2倍做多海力士-ProShares","LPL":"LG Display Co ADS","07709":"南方两倍做多海力士","SKHX":"2倍做多海力士ETF-Leverage Shares","MKOR":"Matthews Korea Active ETF","DDI":"DoubleDown Interactive","HYNX":"2倍做多海力士ETF-T-REX","FLKR":"Franklin FTSE South Korea ETF","PKX":"浦项钢铁","SKHZ":"1倍做空海力士ETF-Leverage Shares","KORU":"3倍做多韩国ETF-Direxion","07747":"南方两倍做多三星电子"},"source_url":"https://wallstreetcn.com/articles/3777115","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1158470736","content_text":"\"我后悔没有拼尽全力阻止。\"7月13日KOSPI暴跌近9%之后,韩国金融监督院院长李灿镇说出了这句话。三个交易日后,由FSC、财政部、央行、FSS组成的F4协调机制拿出了答案。7月16日,一揽子杠杆ETF管控措施落地:暂停新上市、保证金从1000万提至3000万韩元、限购20股、禁止广告。同一天上午,韩国央行宣布加息25个基点至2.75%,三年半来首次紧缩。救市和紧缩在同一个上午发布。当天KOSPI跌6.37%,SK海力士跌11.53%。李灿镇那句\"后悔没有尽全力阻止\",与其说是忏悔,不如说是预告——两个月前自己放出来的杠杆猛兽,没那么容易关回去。32万个账户归零之后,监管终于来了5月27日,韩国一口气推出16只挂钩三星和SK海力士的2倍杠杆ETF。韩国股市今年是全球表现最亮眼的市场,监管的逻辑简单粗暴——让老百姓加杠杆,共享AI国运。两个月内,散户在这批产品上净买入13.67万亿韩元。6月22日,KOSPI创下历史新高,年内涨了116%。然后,杠杆开始反向运转了。7月13日,KOSPI暴跌8.95%,SK海力士跌15.37%——这家存储巨头的历史最大单日跌幅。三星跌10.7%。当天全市场强制平仓3442亿韩元,创年内纪录。7月14日,FSC主席李亿源公开表态:\"后悔没有尽全力阻止。\"财政部、FSC、央行、FSS组成的F4协调机制正式介入,要求各资管公司提交波动抑制方案。7月15日,总统李在明亲自点名三星和SK海力士的杠杆ETF,要求\"迅速妥善制定对策\"。KOSPI当天反弹6.24%——有人赌政策底到了。7月16日,答案来了。六条措施:暂停新的单一股票杠杆ETF上市最低保证金从1000万提至3000万韩元,仅认现金(8月5日起)最小交易单位从1股改为20股(11月起)追踪偏离度管理从3%收紧至2%投资者培训从2小时延至3小时禁止现有产品投放广告这些措施全部指向一个方向:提高门槛、降低成交、切断营销。但没有一条触及存量。FSC拒绝暂停现有产品的交易。李亿源说那会\"造成更大的副作用\"。翻译过来很简单:产品有问题,但不打算关掉。历史有参照——2023年CFD整顿用了几个月,ELS收紧花了一两年。杠杆ETF的体量更大,选的还是老路。第一道坎:融资余额还有至少7万亿要还韩国股市融资余额1月时是27.4万亿韩元。6月24日KOSPI见顶,飙到38.6万亿。到7月14日,回落至34.7万亿——从峰值降了3.9万亿。3.9万亿听着不少。但回到1月的正常水位,至少还有7万亿要消化。而且这3.9万亿里,多少是主动卸杠杆、多少只是持仓市值蒸发导致的被动收缩,没人分得清。强制平仓的速度没有放缓。在加速。3月:5508亿韩元。5月:7077亿。6月:1.12万亿。7月前14天:4736亿——照这个节奏,全月破1.3万亿。5月至7月14日累计强平2.3万亿韩元(约104亿人民币)。这个正反馈还没有被打破:账户亏损 → 保证金不足 → 券商强平 → 价格再跌 → 更多账户触发追保 → 新一轮强平。韩国的机制是——结算资金若不足,券商可在3个交易日后直接以低价处理持仓,散户没有还手之力。融资余额能不能降,取决于两件事。股价稳不稳住。散户还有没有钱补仓。第二道坎:杠杆ETF净值腰斩,但没人在赎回16只杠杆ETF才是本轮风暴最特殊的地方。高盛在7月14日报告里讲得很直白:此轮下跌\"与基本面驱动因素出现明显脱节\",真正的元凶是杠杆ETF遭遇快速去杠杆,触发了\"自我强化的连锁清算\"。机制本身不复杂。2倍杠杆ETF每天收盘前必须再平衡——涨了加仓,跌了减仓。韩国资本市场研究院估算,自5月上市以来,这批ETF每日再平衡交易在7000亿至2.1万亿韩元,全部压在收盘时段。所以市场里出现了产品结构自己制造的\"空头伽马\":下跌触发被动减仓,被动减仓加剧下跌,再触发更多被动减仓。到7月15日,16只杠杆ETF资产规模约12.4万亿韩元,较6月25日高点腰斩超过五成。这个腰斩几乎全部来自净值缩水,而非份额赎回。 华泰证券李雨婕指出,产品份额端\"仅是扩张速度减慢,并没有出现份额的大幅回落\"。份额不动,意味着杠杆的结构性底盘还在。净值跌了、绝对规模小了、再平衡的边际冲击在递减——但持仓没有真正出清。只要产品还在,算法还在每天调仓,去杠杆就只是减速,不是结束。散户自己的行为也印证这一点。KODEX SK海力士杠杆ETF,上市以来散户净买入4.73万亿韩元。SK海力士自6月25日高点跌了28.62%,期间散户仍在净买入1.55万亿。直到7月14、15日才出现两日净卖出,合计4744亿韩元。跟4.73万亿的累计买入比,这点卖盘微不足道。他们没想卖。是被迫在卖。而且才刚开始。第三道坎:弹药已经见底了韩国金融投资协会数据显示,截至7月10日,散户证券账户的待命资金降至105万亿韩元。6月初是139.69万亿——一个月少了34万亿,约1550亿人民币。钱去哪了?一部分跌没了,一部分补仓用掉了。不管哪种,结果一样:弹药库在快速见底。这件事比融资余额下降更麻烦。融资余额降了至少说明杠杆在出清。弹药空了意味着什么?下一轮暴跌,散户连追保的钱都拿不出。强平会比上一轮来得更快、砸得更深。韩国保证金比例最低40%,最高杠杆2.5倍。三星和SK海力士约45%的保证金比例,正股跌17.5%就触发追保。没钱补,券商直接平仓。招商证券李昊阳给了一组对比:韩国初始保证金最低40%,美国50%,中国100%。波动承受力天然不在一个量级。120万个杠杆账户同时触及追保线的时候,已经不是个体爆仓——是系统在清盘。已有32万至46万个账户被全额强平,本金归零。有的甚至倒欠券商钱。7月13日单日强平3442亿韩元,年内最高。今天KOSPI又跌6.37%。明天公布的数据会是多少,没人猜得到。为什么这一次的进度条会更长韩国不是第一次被散户杠杆反噬。但这轮有三件事和之前不一样。杠杆工具的结构变了。2023年CFD危机是合约层加杠杆,后来的ELS危机是结构化产品。单股2倍杠杆ETF不一样——它的再平衡机制是算法驱动的,每天必做,不可协商。没人能拍板说\"今天不调了\"。产品在交易,调仓就在发生。估值锚在动摇。以前纯杠杆踩踏时,底层资产的基本面通常是清楚的,只是杠杆放大了波动。这一轮不同。SK海力士Q2利润可能低于预期的消息在发酵。纽约州7月14日签署了全美首个数据中心建设禁令,禁止50兆瓦以上项目一年。AI云服务商CoreWeave正在探索用看跌期权对冲存储芯片价格下跌风险。巴菲特7月15日接受CNBC专访,说股市已经沦为\"附带赌场的教堂\"。存储芯片的周期性正从担忧变成数据。杠杆产品叠加上基本面转向,伤害是乘法,不是加法。韩国央行在今天加息了。三年半来首次,从2.50%到2.75%。FSC在给市场打补丁,央行在收紧流动性——两道力方向相反。加息直接压科技股估值,同时抬高融资成本。在去杠杆走到一半的时候加息,等于一边输血,一边又开了口子。也不是没有正面因素。杠杆ETF规模已腰斩,尾盘再平衡对市场的冲击在变小。韩元加息后走强,收于1480.4,升4.3韩元,韩美利差收窄,外资流出压力有所缓解。但这些是减震,不是转向。三个信号,判断去杠杆是不是真的结束了融资余额稳定在30万亿以下,且不是因为持仓缩水被动降下来的。当前34.7万亿到27至30万亿的正常区间,至少还有5到7万亿的距离。健康的去杠杆是融资买入量萎缩,不是强平量飙升——现在恰恰相反。杠杆ETF份额开始实质性赎回。净值跌一半没关系,份额缩了才是真出清。盯着韩国交易所每日公布的ETF份额,比盯着KOSPI有用。待命资金止跌,且散户亏损面开始收窄。105万亿如果继续往下走,下一次波动的缓冲垫比这一轮还薄。现在\"热门50股里73%散户亏钱、25只亏损率超80%\",这种局面不变,散户的心理账户不会允许新钱入场。有人总结得干脆:\"融资余额下降的同时,强制平仓金额持续回落、投资者账户资金趋于稳定——三个条件同时满足,才算风险出清。\"目前一个都没到。资产影响落点SK海力士是最纯粹的去杠杆温度计。散户和杠杆ETF持仓最集中,波动也最剧烈。今天跌11.53%到184.2万韩元,ADR在美股跌9%到176.46美元。去杠杆往前走一步,它最先承压;退一步,也最先弹起来。三星电子烈度略低,但体量摆在那。今天跌8.77%到25.5万韩元。KOSPI第一权重一动,整个市场的杠杆率和追保触发跟着动。存储链的传导不需要拐弯:韩股去杠杆 → SK海力士ADR被抛 → 美光和西部数据跟跌。这轮5到7月的全球芯片股联动已经跑通了整条路径。韩国去杠杆不是孤立事件——它是全球AI交易里最薄的那块板。KOSPI波动率指数从去年12月涨了281.8%。去杠杆没走完之前,这个数字降不下来。韩元是个意外。央行在市场暴跌日加息,短期压住了股市,但锁住了利差——韩元今天升值了。只要守在1500以下,外资流出压力就有缓解的可能。这是去杠杆过程中少有的正面推手。各项数据指向同一个结论:去杠杆的进度条大概在30%到40%。真正的脆弱不在已经爆掉的仓位上,在那些份额没动、弹药却已经见底的账户里。下一根阴线来的时候,没有缓冲垫。下一个关键节点:SK海力士Q2完整财报和下半年指引。如果基本面也出现明确转向信号,杠杆出清和估值下修会同时加速。那才是真正难熬的一段。","news_type":1,"symbols_score_info":{"LPL":2,"07709":2,"SKUU":0.6,"DDI":2,"KDEF":2,"SKHZ":0.6,"SHG":2,"KB":2,"GRVY":2,"SKHX":0.6,"KORU":2,"PKX":2,"MKOR":2,"HYNX":0.6,"SK":0.6,"SKM":2,"FLKR":2,"EWY":2,"KF":2,"KEP":2,"SKHY":2,"KPOP":2,"KT":2,"CPNG":2,"SKDD":0.6,"07747":2,"SKHU":0.6}},"isVote":1,"tweetType":1,"viewCount":478,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":583876797222944,"gmtCreate":1783579559513,"gmtModify":1783579561736,"author":{"id":"4228385961123602","authorId":"4228385961123602","name":"HAKUBUN","avatar":"https://static.tigerbbs.com/97e39f638d455bd5828c866ff7fee9d7","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4228385961123602","idStr":"4228385961123602"},"themes":[],"title":"","htmlText":"好好的2026年,一开年就让伊朗这帮神棍给搅黄了。这几条蛆不灭掉,世界永不安宁","listText":"好好的2026年,一开年就让伊朗这帮神棍给搅黄了。这几条蛆不灭掉,世界永不安宁","text":"好好的2026年,一开年就让伊朗这帮神棍给搅黄了。这几条蛆不灭掉,世界永不安宁","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/583876797222944","repostId":"1143632352","repostType":2,"repost":{"id":"1143632352","kind":"news","weMediaInfo":{"introduction":"港股挖掘机将每天为您推送最具价值的港股、美股、A股投资资讯!第一时间把握全球政策动向,先人一步了解主流资金流向,监测主力行踪,解读公司公告,追踪活跃个股,让您畅享投资财富盛宴!","home_visible":1,"media_name":"智通财经APP","id":"12","head_image":"https://static.tigerbbs.com/361f7f1ca0d64e919035653d64c723ab"},"pubTimestamp":1783548532,"share":"https://www.laohunote.com/m/news/1143632352?lang=zh_CN&edition=full","pubTime":"2026-07-09 06:08","market":"sh","language":"zh","title":"美方对伊朗发动新一轮军事打击,特朗普称停火协议“已经结束”","url":"https://stock-news.laohu8.com/highlight/detail?id=1143632352","media":"智通财经APP","summary":"当地时间7月8日获悉,一名美国官员表示,美国军方正在对伊朗发动最新一轮打击。美军中央司令部随后证实已开始对伊朗实施更多打击。有消息称,本轮打击预计将比7日实施的打击规模更大。当天早些时候,美国总统特朗普在土耳其参加北约峰会期间说,他对伊朗很不高兴,美军“今晚可能”再次狠狠打击伊朗,还可能会对伊朗重新实施海上封锁。当地时间8日深夜,伊朗锡里克、阿巴斯港和恰巴哈尔港等地传出爆炸声。美军中央司令部7日称,美军当天对伊朗发动打击,击中超过80个目标,包括伊朗的防空系统、指挥控制网络、海岸雷达站点、反舰导弹能力,以及超过60艘伊朗伊斯兰革命卫队小型快艇。","content":"<html><head></head><body><p>7月9日,美国与伊朗紧张局势再度升级。美国中央司令部当地时间周三宣布,在伊朗袭击霍尔木兹海峡及附近海域商船后,美军已对伊朗发动新一轮军事打击。这是6月中旬美伊签署谅解备忘录以来的至少第四轮打击。目前来看,美方及伊方此前的报复行动规模和强度,都未达到冲突初期的水平。与此同时,美国总统特朗普表示,美伊上月达成的停火协议“已经结束”,并暗示不再寻求与伊朗达成新的协议。</p><p style=\"text-align: justify;\">美国中央司令部在社交媒体X平台表示,美国此次行动旨在追究伊朗近期针对国际商业航运及民用船员发动“无端攻击”的责任,并强调美国将维护这一重要国际航道的航行安全。</p><p style=\"text-align: justify;\">此前,美方称伊朗周二袭击了霍尔木兹海峡及附近海域的三艘商船。事件发生后,美国宣布取消作为停火协议一部分的伊朗石油出口制裁豁免,并对伊朗军事基础设施及快艇等目标实施数十次报复性空袭。</p><p style=\"text-align: justify;\">特朗普当天在土耳其安卡拉出席北约峰会期间表示,由于霍尔木兹海峡冲突再次升级,美国与伊朗之间的停火协议已经失效。“就我而言,停火已经结束了。”特朗普表示,“我不确定自己是否还想与他们达成协议。我们可以继续玩这种游戏,但我认为,是时候把事情彻底解决了。”</p><p style=\"text-align: justify;\">当被问及为何对伊朗态度发生明显转变时,特朗普表示,一个月前他曾称赞伊朗领导层“聪明”“理性”“容易打交道”,但过去一两周伊朗方面的行为改变了他的看法。</p><p style=\"text-align: justify;\">霍尔木兹海峡是全球最重要的能源运输通道之一,也是本轮美伊冲突的核心焦点。此前,伊朗曾威胁封锁霍尔木兹海峡,并计划向过境船只征收通行费用,以此作为对抗美国军事压力的重要筹码。作为回应,美国一度对伊朗相关港口实施海上封锁。</p><p style=\"text-align: justify;\">根据双方上月达成的临时停火协议,美国同意解除海上封锁,而伊朗则承诺尽最大努力保障海湾地区商业船只安全通行。</p><p style=\"text-align: justify;\">不过,伊朗外交部发言人巴加埃周三在社交平台发文称,美国已违反协议相关条款。他表示,协议明确伊朗负责制定霍尔木兹海峡船舶通行安排,而美国的单边行动及针对伊朗的军事打击,已破坏协议框架。巴加埃表示,伊朗将坚定维护国家利益和主权,不会接受外部压力。</p><p style=\"text-align: justify;\">美伊停火协议破裂意味着中东局势再度进入高度紧张状态,霍尔木兹海峡这一全球能源运输要道面临新的安全风险,未来国际原油供应及全球金融市场波动或再次受到影响。</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" 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width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n美方对伊朗发动新一轮军事打击,特朗普称停火协议“已经结束”\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/12\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/361f7f1ca0d64e919035653d64c723ab);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">智通财经APP </p>\n<p class=\"h-time\">2026-07-09 06:08</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>7月9日,美国与伊朗紧张局势再度升级。美国中央司令部当地时间周三宣布,在伊朗袭击霍尔木兹海峡及附近海域商船后,美军已对伊朗发动新一轮军事打击。这是6月中旬美伊签署谅解备忘录以来的至少第四轮打击。目前来看,美方及伊方此前的报复行动规模和强度,都未达到冲突初期的水平。与此同时,美国总统特朗普表示,美伊上月达成的停火协议“已经结束”,并暗示不再寻求与伊朗达成新的协议。</p><p style=\"text-align: justify;\">美国中央司令部在社交媒体X平台表示,美国此次行动旨在追究伊朗近期针对国际商业航运及民用船员发动“无端攻击”的责任,并强调美国将维护这一重要国际航道的航行安全。</p><p style=\"text-align: justify;\">此前,美方称伊朗周二袭击了霍尔木兹海峡及附近海域的三艘商船。事件发生后,美国宣布取消作为停火协议一部分的伊朗石油出口制裁豁免,并对伊朗军事基础设施及快艇等目标实施数十次报复性空袭。</p><p style=\"text-align: justify;\">特朗普当天在土耳其安卡拉出席北约峰会期间表示,由于霍尔木兹海峡冲突再次升级,美国与伊朗之间的停火协议已经失效。“就我而言,停火已经结束了。”特朗普表示,“我不确定自己是否还想与他们达成协议。我们可以继续玩这种游戏,但我认为,是时候把事情彻底解决了。”</p><p style=\"text-align: justify;\">当被问及为何对伊朗态度发生明显转变时,特朗普表示,一个月前他曾称赞伊朗领导层“聪明”“理性”“容易打交道”,但过去一两周伊朗方面的行为改变了他的看法。</p><p style=\"text-align: justify;\">霍尔木兹海峡是全球最重要的能源运输通道之一,也是本轮美伊冲突的核心焦点。此前,伊朗曾威胁封锁霍尔木兹海峡,并计划向过境船只征收通行费用,以此作为对抗美国军事压力的重要筹码。作为回应,美国一度对伊朗相关港口实施海上封锁。</p><p style=\"text-align: justify;\">根据双方上月达成的临时停火协议,美国同意解除海上封锁,而伊朗则承诺尽最大努力保障海湾地区商业船只安全通行。</p><p style=\"text-align: justify;\">不过,伊朗外交部发言人巴加埃周三在社交平台发文称,美国已违反协议相关条款。他表示,协议明确伊朗负责制定霍尔木兹海峡船舶通行安排,而美国的单边行动及针对伊朗的军事打击,已破坏协议框架。巴加埃表示,伊朗将坚定维护国家利益和主权,不会接受外部压力。</p><p style=\"text-align: justify;\">美伊停火协议破裂意味着中东局势再度进入高度紧张状态,霍尔木兹海峡这一全球能源运输要道面临新的安全风险,未来国际原油供应及全球金融市场波动或再次受到影响。</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/cf8deb964fe83a788e7ae02a962af884","relate_stocks":{},"source_url":"https://ysxw.cctv.cn/article.html?toc_style_id=feeds_default&item_id=2022740237904529834&channelId=1119","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1143632352","content_text":"7月9日,美国与伊朗紧张局势再度升级。美国中央司令部当地时间周三宣布,在伊朗袭击霍尔木兹海峡及附近海域商船后,美军已对伊朗发动新一轮军事打击。这是6月中旬美伊签署谅解备忘录以来的至少第四轮打击。目前来看,美方及伊方此前的报复行动规模和强度,都未达到冲突初期的水平。与此同时,美国总统特朗普表示,美伊上月达成的停火协议“已经结束”,并暗示不再寻求与伊朗达成新的协议。美国中央司令部在社交媒体X平台表示,美国此次行动旨在追究伊朗近期针对国际商业航运及民用船员发动“无端攻击”的责任,并强调美国将维护这一重要国际航道的航行安全。此前,美方称伊朗周二袭击了霍尔木兹海峡及附近海域的三艘商船。事件发生后,美国宣布取消作为停火协议一部分的伊朗石油出口制裁豁免,并对伊朗军事基础设施及快艇等目标实施数十次报复性空袭。特朗普当天在土耳其安卡拉出席北约峰会期间表示,由于霍尔木兹海峡冲突再次升级,美国与伊朗之间的停火协议已经失效。“就我而言,停火已经结束了。”特朗普表示,“我不确定自己是否还想与他们达成协议。我们可以继续玩这种游戏,但我认为,是时候把事情彻底解决了。”当被问及为何对伊朗态度发生明显转变时,特朗普表示,一个月前他曾称赞伊朗领导层“聪明”“理性”“容易打交道”,但过去一两周伊朗方面的行为改变了他的看法。霍尔木兹海峡是全球最重要的能源运输通道之一,也是本轮美伊冲突的核心焦点。此前,伊朗曾威胁封锁霍尔木兹海峡,并计划向过境船只征收通行费用,以此作为对抗美国军事压力的重要筹码。作为回应,美国一度对伊朗相关港口实施海上封锁。根据双方上月达成的临时停火协议,美国同意解除海上封锁,而伊朗则承诺尽最大努力保障海湾地区商业船只安全通行。不过,伊朗外交部发言人巴加埃周三在社交平台发文称,美国已违反协议相关条款。他表示,协议明确伊朗负责制定霍尔木兹海峡船舶通行安排,而美国的单边行动及针对伊朗的军事打击,已破坏协议框架。巴加埃表示,伊朗将坚定维护国家利益和主权,不会接受外部压力。美伊停火协议破裂意味着中东局势再度进入高度紧张状态,霍尔木兹海峡这一全球能源运输要道面临新的安全风险,未来国际原油供应及全球金融市场波动或再次受到影响。","news_type":1,"symbols_score_info":{"CLmain":2,"BZmain":2}},"isVote":1,"tweetType":1,"viewCount":392,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":583427852271656,"gmtCreate":1783469859032,"gmtModify":1783469861332,"author":{"id":"4228385961123602","authorId":"4228385961123602","name":"HAKUBUN","avatar":"https://static.tigerbbs.com/97e39f638d455bd5828c866ff7fee9d7","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4228385961123602","idStr":"4228385961123602"},"themes":[],"title":"","htmlText":"是伊朗这帮军头在乱搞。","listText":"是伊朗这帮军头在乱搞。","text":"是伊朗这帮军头在乱搞。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/583427852271656","repostId":"1176709226","repostType":2,"repost":{"id":"1176709226","kind":"news","weMediaInfo":{"introduction":"追踪全球财经热点,精选影响您财富的资讯,投资理财必备神器!","home_visible":1,"media_name":"华尔街见闻","id":"1084101182","head_image":"https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e"},"pubTimestamp":1783462269,"share":"https://www.laohunote.com/m/news/1176709226?lang=zh_CN&edition=full","pubTime":"2026-07-08 06:11","market":"fut","language":"zh","title":"霍尔木兹冲击波!美国撤销伊朗石油销售豁免,美军称开始对伊发动强力打击","url":"https://stock-news.laohu8.com/highlight/detail?id=1176709226","media":"华尔街见闻","summary":"霍尔木兹海峡接连发生船只遇袭后,美国撤销了临时允许伊朗恢复石油销售的制裁豁免,令市场对中东原油供应风险的担忧迅速升温。央视称,伊朗方面暂未对美国终止对伊石油制裁豁免作出回应。美国官员指伊朗近日在霍尔木兹海峡向三艘商船开火据多家媒体报道,美国政府周二决定撤销此前允许伊朗继续进行石油销售的制裁豁免。","content":"<html><head></head><body><blockquote><p>美国财政部宣布撤销截至8月下旬的为期60天伊朗能源限制豁免后,原油一度涨6%。美官员称,伊朗近日在霍尔木兹海峡向三艘商船开火,这一行为“完全不可接受”,将招致相应后果;美方仍在诚意推进达成美伊最终协议;美军称,一系列强力打击是对伊袭商船的回应,伊方明显违反停火协议。伊朗最高领袖顾问称,美国将把谈判引向失败、正试图在海峡开辟替代航道。</p></blockquote><p style=\"text-align: justify;\">霍尔木兹海峡接连发生船只遇袭后,美国撤销了临时允许伊朗恢复石油销售的制裁豁免,令市场对中东原油供应风险的担忧迅速升温。</p><p style=\"text-align: justify;\">美东时间7日周二美股尾盘时段,据央视新闻,美国财政部外国资产控制办公室(OFAC)公布,美国撤销一项授权允许伊朗石油销售的通用许可,相关收尾交易将被允许持续至美国东部时间7月17日零点。央视援引美国官员的消息暗示,美方认为,此举是伊朗近期袭击霍尔木兹海峡通行商船招致的后果。</p><p style=\"text-align: justify;\">在伊朗媒体称伊朗多地发生爆炸后,据央视,美国中央司令部表示,美军已开始对伊朗发动一系列强力打击,作为对伊朗袭击海峡商船的回应,指责伊方明显违反停火协议。</p><p style=\"text-align: justify;\">OFAC称,自7月7日起,不得开展新的相关交易。此前美国财政部遵循美伊临时和平协议发布的豁免允许相关交易持续60天,原定有效期至8月21日,为伊朗原油出口恢复提供窗口。此次政策逆转意味着特朗普政府再次收紧对伊朗能源出口的限制。</p><p style=\"text-align: justify;\">央视称,伊朗方面暂未对美国终止对伊石油制裁豁免作出回应。此后传出的报道显示,伊朗最高领袖顾问Mohsen Rezaei周二在接受伊媒采访时表示,很明显,美国将把与伊朗的谈判引向失败,并补充说,美国正试图在霍尔木兹海峡为其船只开辟一条替代航道。</p><p style=\"text-align: justify;\">美国突然撤销豁免,推翻了上月与伊朗所达成临时和平协议、即谅解备忘录中的一项关键内容。市场认为,美国重新打击伊朗石油出口,加之此前霍尔木兹海峡附近多艘能源运输船遭袭事件,使全球原油供应中断风险重新成为交易核心。</p><p style=\"text-align: justify;\">美国撤销豁免的消息传出后,美股周二尾盘交易中,国际油价涨幅快速扩大,美国WTI原油一度升至72.51美元/桶,较周一收盘上涨近5.8%;布伦特原油最高触及76.36美元/桶,较周一收盘上涨近6.1%。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a69dc0559e762c28996bafca2d0c11a9\" tg-width=\"1059\" tg-height=\"694\"/></p><p style=\"text-align: justify;\">同时,美元走强,ICE美元指数(DXY)涨幅扩大,一度涨破101.10刷新日高,日内上涨约0.3%。贵金属随之加速下跌。现货黄金一度跌破4100美元/盎司,刷新日低,日内跌幅超过1.7%;现货白银刷新日低至59.42美元/盎司,日内跌幅扩大至接近4.2%。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4e306b37d2294adb0bc0282b889cc4ce\" tg-width=\"1071\" tg-height=\"695\"/></p><h2 id=\"id_1010070814\">美国官员指伊朗近日在霍尔木兹海峡向三艘商船开火</h2><p style=\"text-align: justify;\">据多家媒体报道,美国政府周二决定撤销此前允许伊朗继续进行石油销售的制裁豁免。据报道,一名美国官员表示,此次行动与近期霍尔木兹海峡附近发生的油轮袭击事件有关。美国认为,在伊朗相关力量涉嫌威胁商业航运安全后,有必要重新限制伊朗通过石油出口获得收入的能力。</p><p style=\"text-align: justify;\">央视援引匿名美国官员称,初步迹象显示“伊朗近日在霍尔木兹海峡向三艘商船开火”,这一行为“完全不可接受”,将招致相应后果。美方官员还称,尽管局势升级,但美方谈判代表“仍在诚意推进与伊朗达成最终协议”。</p><p style=\"text-align: justify;\">此前,美国政府曾在美伊关系出现阶段性缓和后,给予伊朗相关石油交易临时豁免,允许部分石油出口和相关交易继续进行。该措施一度被市场视为美国释放外交缓和信号的重要举措,也推动市场预期伊朗原油可能逐步回归国际市场。</p><p style=\"text-align: justify;\">央视提到,美国财长贝森特于6月22日宣布,作为美国与伊朗谈判框架的一部分,美国财政部发布一份为期60天的通用许可,授权允许伊朗石油的生产、交付和销售。据美国财政部OFAC当天发布的公告,此前被美国多个行政令和规定禁止的伊朗原油、石化和石油产品的生产、交付及销售交易均得到豁免,期限至2026年8月21日。</p><p style=\"text-align: justify;\">但随着霍尔木兹海峡航运安全形势恶化,美国政策出现转向。</p><p style=\"text-align: justify;\">市场人士认为,此次撤销豁免意味着伊朗石油供应回归预期被明显削弱,全球原油市场重新开始交易“供应风险”。</p><h2 id=\"id_1313688342\">美军称系列打击是对伊朗袭击商船的回应</h2><p style=\"text-align: justify;\">据伊朗媒体Press TV报道,伊朗南部港口城市锡里克(Sirik)发生多起爆炸事件。伊朗媒体报道称,伊朗南部Qeshm Island和Bandar地区也传来爆炸声。 </p><p style=\"text-align: justify;\">此后,据央视新闻,当地时间7月7日,美国中央司令部表示,美军中央司令部部队已开始对伊朗发动一系列强力打击,以回应伊朗针对国际水道中由平民船员操作的商业航运实施瞄准和袭击。</p><p style=\"text-align: justify;\">美国中央司令部称,美方打击是对伊朗袭击三艘正在通过霍尔木兹海峡的商船作出的回应,并表示伊朗的侵略行为“没有正当理由、危险”,且“明显违反停火协议”。</p><h2 id=\"id_2941968185\">霍尔木兹海峡风险升温,油市重新计入供应中断溢价</h2><p style=\"text-align: justify;\">近期霍尔木兹海峡附近发生新的油轮遇袭事件,使全球能源市场重新聚焦这一关键运输通道。</p><p style=\"text-align: justify;\">霍尔木兹海峡连接波斯湾与阿曼湾,是全球最重要的能源运输节点之一,大量中东原油和液化天然气运输需要经过该区域。任何军事冲突升级或航运受阻,都可能迅速影响全球能源供应预期。</p><p style=\"text-align: justify;\">此前,随着美伊谈判推进,以及美国允许伊朗石油交易在有限范围内恢复,市场一度认为中东供应风险正在下降,油价风险溢价逐步消退。</p><p style=\"text-align: justify;\">然而,油轮遇袭事件改变了市场情绪。</p><p style=\"text-align: justify;\">在美国宣布撤销伊朗石油豁免后,交易员迅速重新调整仓位,押注伊朗出口减少以及霍尔木兹航运风险可能进一步推高供应紧张程度。</p><h2 id=\"id_4050991004\">伊朗石油供应前景添变数,油价后续取决于霍尔木兹局势</h2><p style=\"text-align: justify;\">分析人士认为,短期来看,美国撤销伊朗石油销售豁免将继续支撑原油价格,但油价能否持续上涨,关键仍取决于霍尔木兹海峡局势是否进一步恶化。</p><p style=\"text-align: justify;\">如果伊朗出口受到实质性限制,同时更多油轮因安全风险暂停经过霍尔木兹海峡,全球原油供应风险溢价可能继续扩大。</p><p style=\"text-align: justify;\">但如果地区紧张局势得到控制,航运逐步恢复,油价涨幅可能受到限制。</p><p style=\"text-align: justify;\">对于市场而言,此次事件的重要变化在于,交易逻辑已经从此前的“伊朗供应回归”重新转向“中东供应是否再次受到威胁”。</p><p style=\"text-align: justify;\">霍尔木兹海峡的新一轮安全风险,叠加美国重新收紧伊朗石油制裁,使全球能源市场再次进入地缘政治主导的交易阶段。</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>霍尔木兹冲击波!美国撤销伊朗石油销售豁免,美军称开始对伊发动强力打击</title>\n<style 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margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n霍尔木兹冲击波!美国撤销伊朗石油销售豁免,美军称开始对伊发动强力打击\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1084101182\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">华尔街见闻 </p>\n<p class=\"h-time\">2026-07-08 06:11</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><blockquote><p>美国财政部宣布撤销截至8月下旬的为期60天伊朗能源限制豁免后,原油一度涨6%。美官员称,伊朗近日在霍尔木兹海峡向三艘商船开火,这一行为“完全不可接受”,将招致相应后果;美方仍在诚意推进达成美伊最终协议;美军称,一系列强力打击是对伊袭商船的回应,伊方明显违反停火协议。伊朗最高领袖顾问称,美国将把谈判引向失败、正试图在海峡开辟替代航道。</p></blockquote><p style=\"text-align: justify;\">霍尔木兹海峡接连发生船只遇袭后,美国撤销了临时允许伊朗恢复石油销售的制裁豁免,令市场对中东原油供应风险的担忧迅速升温。</p><p style=\"text-align: justify;\">美东时间7日周二美股尾盘时段,据央视新闻,美国财政部外国资产控制办公室(OFAC)公布,美国撤销一项授权允许伊朗石油销售的通用许可,相关收尾交易将被允许持续至美国东部时间7月17日零点。央视援引美国官员的消息暗示,美方认为,此举是伊朗近期袭击霍尔木兹海峡通行商船招致的后果。</p><p style=\"text-align: justify;\">在伊朗媒体称伊朗多地发生爆炸后,据央视,美国中央司令部表示,美军已开始对伊朗发动一系列强力打击,作为对伊朗袭击海峡商船的回应,指责伊方明显违反停火协议。</p><p style=\"text-align: justify;\">OFAC称,自7月7日起,不得开展新的相关交易。此前美国财政部遵循美伊临时和平协议发布的豁免允许相关交易持续60天,原定有效期至8月21日,为伊朗原油出口恢复提供窗口。此次政策逆转意味着特朗普政府再次收紧对伊朗能源出口的限制。</p><p style=\"text-align: justify;\">央视称,伊朗方面暂未对美国终止对伊石油制裁豁免作出回应。此后传出的报道显示,伊朗最高领袖顾问Mohsen Rezaei周二在接受伊媒采访时表示,很明显,美国将把与伊朗的谈判引向失败,并补充说,美国正试图在霍尔木兹海峡为其船只开辟一条替代航道。</p><p style=\"text-align: justify;\">美国突然撤销豁免,推翻了上月与伊朗所达成临时和平协议、即谅解备忘录中的一项关键内容。市场认为,美国重新打击伊朗石油出口,加之此前霍尔木兹海峡附近多艘能源运输船遭袭事件,使全球原油供应中断风险重新成为交易核心。</p><p style=\"text-align: justify;\">美国撤销豁免的消息传出后,美股周二尾盘交易中,国际油价涨幅快速扩大,美国WTI原油一度升至72.51美元/桶,较周一收盘上涨近5.8%;布伦特原油最高触及76.36美元/桶,较周一收盘上涨近6.1%。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a69dc0559e762c28996bafca2d0c11a9\" tg-width=\"1059\" tg-height=\"694\"/></p><p style=\"text-align: justify;\">同时,美元走强,ICE美元指数(DXY)涨幅扩大,一度涨破101.10刷新日高,日内上涨约0.3%。贵金属随之加速下跌。现货黄金一度跌破4100美元/盎司,刷新日低,日内跌幅超过1.7%;现货白银刷新日低至59.42美元/盎司,日内跌幅扩大至接近4.2%。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4e306b37d2294adb0bc0282b889cc4ce\" tg-width=\"1071\" tg-height=\"695\"/></p><h2 id=\"id_1010070814\">美国官员指伊朗近日在霍尔木兹海峡向三艘商船开火</h2><p style=\"text-align: justify;\">据多家媒体报道,美国政府周二决定撤销此前允许伊朗继续进行石油销售的制裁豁免。据报道,一名美国官员表示,此次行动与近期霍尔木兹海峡附近发生的油轮袭击事件有关。美国认为,在伊朗相关力量涉嫌威胁商业航运安全后,有必要重新限制伊朗通过石油出口获得收入的能力。</p><p style=\"text-align: justify;\">央视援引匿名美国官员称,初步迹象显示“伊朗近日在霍尔木兹海峡向三艘商船开火”,这一行为“完全不可接受”,将招致相应后果。美方官员还称,尽管局势升级,但美方谈判代表“仍在诚意推进与伊朗达成最终协议”。</p><p style=\"text-align: justify;\">此前,美国政府曾在美伊关系出现阶段性缓和后,给予伊朗相关石油交易临时豁免,允许部分石油出口和相关交易继续进行。该措施一度被市场视为美国释放外交缓和信号的重要举措,也推动市场预期伊朗原油可能逐步回归国际市场。</p><p style=\"text-align: justify;\">央视提到,美国财长贝森特于6月22日宣布,作为美国与伊朗谈判框架的一部分,美国财政部发布一份为期60天的通用许可,授权允许伊朗石油的生产、交付和销售。据美国财政部OFAC当天发布的公告,此前被美国多个行政令和规定禁止的伊朗原油、石化和石油产品的生产、交付及销售交易均得到豁免,期限至2026年8月21日。</p><p style=\"text-align: justify;\">但随着霍尔木兹海峡航运安全形势恶化,美国政策出现转向。</p><p style=\"text-align: justify;\">市场人士认为,此次撤销豁免意味着伊朗石油供应回归预期被明显削弱,全球原油市场重新开始交易“供应风险”。</p><h2 id=\"id_1313688342\">美军称系列打击是对伊朗袭击商船的回应</h2><p style=\"text-align: justify;\">据伊朗媒体Press TV报道,伊朗南部港口城市锡里克(Sirik)发生多起爆炸事件。伊朗媒体报道称,伊朗南部Qeshm Island和Bandar地区也传来爆炸声。 </p><p style=\"text-align: justify;\">此后,据央视新闻,当地时间7月7日,美国中央司令部表示,美军中央司令部部队已开始对伊朗发动一系列强力打击,以回应伊朗针对国际水道中由平民船员操作的商业航运实施瞄准和袭击。</p><p style=\"text-align: justify;\">美国中央司令部称,美方打击是对伊朗袭击三艘正在通过霍尔木兹海峡的商船作出的回应,并表示伊朗的侵略行为“没有正当理由、危险”,且“明显违反停火协议”。</p><h2 id=\"id_2941968185\">霍尔木兹海峡风险升温,油市重新计入供应中断溢价</h2><p style=\"text-align: justify;\">近期霍尔木兹海峡附近发生新的油轮遇袭事件,使全球能源市场重新聚焦这一关键运输通道。</p><p style=\"text-align: justify;\">霍尔木兹海峡连接波斯湾与阿曼湾,是全球最重要的能源运输节点之一,大量中东原油和液化天然气运输需要经过该区域。任何军事冲突升级或航运受阻,都可能迅速影响全球能源供应预期。</p><p style=\"text-align: justify;\">此前,随着美伊谈判推进,以及美国允许伊朗石油交易在有限范围内恢复,市场一度认为中东供应风险正在下降,油价风险溢价逐步消退。</p><p style=\"text-align: justify;\">然而,油轮遇袭事件改变了市场情绪。</p><p style=\"text-align: justify;\">在美国宣布撤销伊朗石油豁免后,交易员迅速重新调整仓位,押注伊朗出口减少以及霍尔木兹航运风险可能进一步推高供应紧张程度。</p><h2 id=\"id_4050991004\">伊朗石油供应前景添变数,油价后续取决于霍尔木兹局势</h2><p style=\"text-align: justify;\">分析人士认为,短期来看,美国撤销伊朗石油销售豁免将继续支撑原油价格,但油价能否持续上涨,关键仍取决于霍尔木兹海峡局势是否进一步恶化。</p><p style=\"text-align: justify;\">如果伊朗出口受到实质性限制,同时更多油轮因安全风险暂停经过霍尔木兹海峡,全球原油供应风险溢价可能继续扩大。</p><p style=\"text-align: justify;\">但如果地区紧张局势得到控制,航运逐步恢复,油价涨幅可能受到限制。</p><p style=\"text-align: justify;\">对于市场而言,此次事件的重要变化在于,交易逻辑已经从此前的“伊朗供应回归”重新转向“中东供应是否再次受到威胁”。</p><p style=\"text-align: justify;\">霍尔木兹海峡的新一轮安全风险,叠加美国重新收紧伊朗石油制裁,使全球能源市场再次进入地缘政治主导的交易阶段。</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/cf8deb964fe83a788e7ae02a962af884","relate_stocks":{},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1176709226","content_text":"美国财政部宣布撤销截至8月下旬的为期60天伊朗能源限制豁免后,原油一度涨6%。美官员称,伊朗近日在霍尔木兹海峡向三艘商船开火,这一行为“完全不可接受”,将招致相应后果;美方仍在诚意推进达成美伊最终协议;美军称,一系列强力打击是对伊袭商船的回应,伊方明显违反停火协议。伊朗最高领袖顾问称,美国将把谈判引向失败、正试图在海峡开辟替代航道。霍尔木兹海峡接连发生船只遇袭后,美国撤销了临时允许伊朗恢复石油销售的制裁豁免,令市场对中东原油供应风险的担忧迅速升温。美东时间7日周二美股尾盘时段,据央视新闻,美国财政部外国资产控制办公室(OFAC)公布,美国撤销一项授权允许伊朗石油销售的通用许可,相关收尾交易将被允许持续至美国东部时间7月17日零点。央视援引美国官员的消息暗示,美方认为,此举是伊朗近期袭击霍尔木兹海峡通行商船招致的后果。在伊朗媒体称伊朗多地发生爆炸后,据央视,美国中央司令部表示,美军已开始对伊朗发动一系列强力打击,作为对伊朗袭击海峡商船的回应,指责伊方明显违反停火协议。OFAC称,自7月7日起,不得开展新的相关交易。此前美国财政部遵循美伊临时和平协议发布的豁免允许相关交易持续60天,原定有效期至8月21日,为伊朗原油出口恢复提供窗口。此次政策逆转意味着特朗普政府再次收紧对伊朗能源出口的限制。央视称,伊朗方面暂未对美国终止对伊石油制裁豁免作出回应。此后传出的报道显示,伊朗最高领袖顾问Mohsen Rezaei周二在接受伊媒采访时表示,很明显,美国将把与伊朗的谈判引向失败,并补充说,美国正试图在霍尔木兹海峡为其船只开辟一条替代航道。美国突然撤销豁免,推翻了上月与伊朗所达成临时和平协议、即谅解备忘录中的一项关键内容。市场认为,美国重新打击伊朗石油出口,加之此前霍尔木兹海峡附近多艘能源运输船遭袭事件,使全球原油供应中断风险重新成为交易核心。美国撤销豁免的消息传出后,美股周二尾盘交易中,国际油价涨幅快速扩大,美国WTI原油一度升至72.51美元/桶,较周一收盘上涨近5.8%;布伦特原油最高触及76.36美元/桶,较周一收盘上涨近6.1%。同时,美元走强,ICE美元指数(DXY)涨幅扩大,一度涨破101.10刷新日高,日内上涨约0.3%。贵金属随之加速下跌。现货黄金一度跌破4100美元/盎司,刷新日低,日内跌幅超过1.7%;现货白银刷新日低至59.42美元/盎司,日内跌幅扩大至接近4.2%。美国官员指伊朗近日在霍尔木兹海峡向三艘商船开火据多家媒体报道,美国政府周二决定撤销此前允许伊朗继续进行石油销售的制裁豁免。据报道,一名美国官员表示,此次行动与近期霍尔木兹海峡附近发生的油轮袭击事件有关。美国认为,在伊朗相关力量涉嫌威胁商业航运安全后,有必要重新限制伊朗通过石油出口获得收入的能力。央视援引匿名美国官员称,初步迹象显示“伊朗近日在霍尔木兹海峡向三艘商船开火”,这一行为“完全不可接受”,将招致相应后果。美方官员还称,尽管局势升级,但美方谈判代表“仍在诚意推进与伊朗达成最终协议”。此前,美国政府曾在美伊关系出现阶段性缓和后,给予伊朗相关石油交易临时豁免,允许部分石油出口和相关交易继续进行。该措施一度被市场视为美国释放外交缓和信号的重要举措,也推动市场预期伊朗原油可能逐步回归国际市场。央视提到,美国财长贝森特于6月22日宣布,作为美国与伊朗谈判框架的一部分,美国财政部发布一份为期60天的通用许可,授权允许伊朗石油的生产、交付和销售。据美国财政部OFAC当天发布的公告,此前被美国多个行政令和规定禁止的伊朗原油、石化和石油产品的生产、交付及销售交易均得到豁免,期限至2026年8月21日。但随着霍尔木兹海峡航运安全形势恶化,美国政策出现转向。市场人士认为,此次撤销豁免意味着伊朗石油供应回归预期被明显削弱,全球原油市场重新开始交易“供应风险”。美军称系列打击是对伊朗袭击商船的回应据伊朗媒体Press TV报道,伊朗南部港口城市锡里克(Sirik)发生多起爆炸事件。伊朗媒体报道称,伊朗南部Qeshm Island和Bandar地区也传来爆炸声。 此后,据央视新闻,当地时间7月7日,美国中央司令部表示,美军中央司令部部队已开始对伊朗发动一系列强力打击,以回应伊朗针对国际水道中由平民船员操作的商业航运实施瞄准和袭击。美国中央司令部称,美方打击是对伊朗袭击三艘正在通过霍尔木兹海峡的商船作出的回应,并表示伊朗的侵略行为“没有正当理由、危险”,且“明显违反停火协议”。霍尔木兹海峡风险升温,油市重新计入供应中断溢价近期霍尔木兹海峡附近发生新的油轮遇袭事件,使全球能源市场重新聚焦这一关键运输通道。霍尔木兹海峡连接波斯湾与阿曼湾,是全球最重要的能源运输节点之一,大量中东原油和液化天然气运输需要经过该区域。任何军事冲突升级或航运受阻,都可能迅速影响全球能源供应预期。此前,随着美伊谈判推进,以及美国允许伊朗石油交易在有限范围内恢复,市场一度认为中东供应风险正在下降,油价风险溢价逐步消退。然而,油轮遇袭事件改变了市场情绪。在美国宣布撤销伊朗石油豁免后,交易员迅速重新调整仓位,押注伊朗出口减少以及霍尔木兹航运风险可能进一步推高供应紧张程度。伊朗石油供应前景添变数,油价后续取决于霍尔木兹局势分析人士认为,短期来看,美国撤销伊朗石油销售豁免将继续支撑原油价格,但油价能否持续上涨,关键仍取决于霍尔木兹海峡局势是否进一步恶化。如果伊朗出口受到实质性限制,同时更多油轮因安全风险暂停经过霍尔木兹海峡,全球原油供应风险溢价可能继续扩大。但如果地区紧张局势得到控制,航运逐步恢复,油价涨幅可能受到限制。对于市场而言,此次事件的重要变化在于,交易逻辑已经从此前的“伊朗供应回归”重新转向“中东供应是否再次受到威胁”。霍尔木兹海峡的新一轮安全风险,叠加美国重新收紧伊朗石油制裁,使全球能源市场再次进入地缘政治主导的交易阶段。","news_type":1,"symbols_score_info":{"CLmain":2,"BZmain":2}},"isVote":1,"tweetType":1,"viewCount":443,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":578509600346288,"gmtCreate":1782246830792,"gmtModify":1782250532764,"author":{"id":"4228385961123602","authorId":"4228385961123602","name":"HAKUBUN","avatar":"https://static.tigerbbs.com/97e39f638d455bd5828c866ff7fee9d7","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4228385961123602","idStr":"4228385961123602"},"themes":[],"title":"","htmlText":"损人不利己","listText":"损人不利己","text":"损人不利己","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/578509600346288","repostId":"2645864228","repostType":2,"repost":{"id":"2645864228","kind":"highlight","weMediaInfo":{"introduction":"追踪全球财经热点,精选影响您财富的资讯,投资理财必备神器!","home_visible":1,"media_name":"华尔街见闻","id":"1084101182","head_image":"https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e"},"pubTimestamp":1782200699,"share":"https://www.laohunote.com/m/news/2645864228?lang=zh_CN&edition=full","pubTime":"2026-06-23 15:44","market":"nz","language":"zh","title":"小作文带崩韩股?韩媒:国会议员讨论将股票、房地产未实现收益纳入综合征税","url":"https://stock-news.laohu8.com/highlight/detail?id=2645864228","media":"华尔街见闻","summary":"一份未实现收益征税讨论报道传出后,韩国股市周二骤然熔断。韩联社报道称,韩国国会跨党派议员正讨论税务改革,无论资产是否出售,均以实质性净资产增值为课税依据,股票与房地产等投资资产的未实现收益亦在征税之列。","content":"<html><head></head><body><p style=\"text-align: left;\">一份关于将股票和房地产未实现收益纳入综合征税体系的政策讨论文件,令已处于高估值区间的韩国股市在6月23日骤然崩跌,KOSPI触发熔断,<a href=\"https://laohu8.com/S/SSNLF\">三星电子</a>与SK海力士领跌。</p><p style=\"text-align: left;\">据韩联社报道,6月23日上午,韩国共同民主党、进步党、社会民主党等多党派国会议员联合参与税制改革论坛。论坛核心主张是推动"所得税综合主义"转型——<strong>无论资产是否出售,均以实质性净资产增值为课税依据,股票与房地产等投资资产的未实现收益亦在征税之列。</strong></p><p style=\"text-align: left;\">上述消息迅速在已承压的韩国股市引发连锁反应。KOSPI指数当日收跌10%,报8203.84点,创3月4日以来最大单日跌幅;<a href=\"https://laohu8.com/S/SMSD.UK\">三星电子</a>跌逾7%,SK海力士跌幅超10%。</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/ae2bcaef63b5a08f7f6833bfb743c20a\" data-align=\"center\" tg-width=\"1017\" tg-height=\"738\"/><span></span></p><p style=\"text-align: left;\">此次下跌亦与亚洲市场整体回调及外部因素高度共振:美联储加息预期重燃令美元走强,此前由AI热潮驱动的科技股估值遭到系统性压制。<a href=\"https://laohu8.com/S/MU\">美光科技</a>本周财报能否提振市场对AI需求的信心,将是投资者关注的下一个关键节点。</p><h2 style=\"text-align: left;\">税收论坛:未实现收益或纳入征税体系</h2><p style=\"text-align: left;\">据韩联社报道,<strong>此次论坛的核心议题是将现行按所得形式征税的制度,转变为按经济能力征税的综合主义框架——即不论资产形态与变现与否,均以实质性增加的净资产作为课税依据。</strong></p><p style=\"text-align: left;\">韩国国家财政研究所高级研究员李相敏指出,若课税仅发生在资产变现时点,纳税人将产生惜售动机以规避或延迟纳税,形成"冻结效应",阻碍资本向更高效率领域流动。</p><p style=\"text-align: left;\">论坛同时提出较为渐进的实施路径:<strong>未实现收益原则上认定为所得,但纳税义务可递延至变现时点,或附加利息后延期缴纳;对市价难以评估的不动产及非上市股票,可维持现行实现时点课税,或仅针对高净值资产持有者先行试点。</strong>韩国劳总国长朴基山则进一步呼吁恢复金融投资所得税,并通过增设税率档次提高超高收入群体的实际税负。</p><h2 style=\"text-align: left;\">熔断触发,监管层早已警示过热风险</h2><p style=\"text-align: left;\">征税"小作文"只是引发韩股周二暴跌的原因之一。</p><p style=\"text-align: left;\">首尔韩亚证券策略师Lee Jae Mahn表示目前韩国市场存在多项过热信号——其中最为突出的是SK海力士估值已高于三星电子。他认为,若KOSPI要进一步走高,三星电子股价涨幅必须领先于SK海力士,市场预期三星电子第二季度盈利将超越SK海力士。</p><p style=\"text-align: left;\">与此同时,韩国金融监管层对单只杠杆ETF的担忧亦持续升温。</p><p style=\"text-align: left;\">据彭博社报道,韩国金融监督院院长李灿镇周一在新闻发布会上表示,监管机构正与金融服务委员会及韩国交易所协调,评估包括加强交易模式监控在内的一系列稳定措施,以限制追踪三星电子和SK海力士的杠杆ETF剧烈波动带来的传染风险,并强调相关副作用正在"加剧"。</p><h2 style=\"text-align: left;\">外部压力叠加,AI热潮降温</h2><p style=\"text-align: left;\">美联储加息预期重燃构成另一重外部压力,韩国市场动荡亦与全球科技股普遍回调同步。</p><p style=\"text-align: left;\">美国银行首席美国经济学家Aditya Bhave在最新研究报告中预测,美联储将于9月、10月及12月各加息25个基点,联邦基金利率再上调75个基点,并预计2027年全年维持利率不变。Aditya Bhave坦言,美银此前对降息需求的怀疑态度"为时过早",最新数据已显示美国经济与通胀形势发生变化。<a href=\"https://laohu8.com/S/GS\">高盛</a>、<a href=\"https://laohu8.com/S/MS\">摩根士丹利</a>与<a href=\"https://laohu8.com/S/DB\">德意志银行</a>亦近期警告,服务业通胀、薪资增长及能源价格波动可能使通胀回落速度慢于预期。</p><p style=\"text-align: left;\">在前景展望方面,Pepperstone Group策略师Dilin Wu表示,美光科技本周财报将是真正的考验——若美光交出亮眼成绩单,将直接验证三星电子与SK海力士的基本面,并告诉市场AI硬件投资热潮是否仍具持续增长空间。与此同时,<a href=\"https://laohu8.com/S/GOOG\">谷歌</a>等科技巨头股价若持续下跌是否会压缩其资本支出计划,亦是市场密切关注的焦点。</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>小作文带崩韩股?韩媒:国会议员讨论将股票、房地产未实现收益纳入综合征税</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ 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{color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n小作文带崩韩股?韩媒:国会议员讨论将股票、房地产未实现收益纳入综合征税\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1084101182\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">华尔街见闻 </p>\n<p class=\"h-time\">2026-06-23 15:44</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p style=\"text-align: left;\">一份关于将股票和房地产未实现收益纳入综合征税体系的政策讨论文件,令已处于高估值区间的韩国股市在6月23日骤然崩跌,KOSPI触发熔断,<a href=\"https://laohu8.com/S/SSNLF\">三星电子</a>与SK海力士领跌。</p><p style=\"text-align: left;\">据韩联社报道,6月23日上午,韩国共同民主党、进步党、社会民主党等多党派国会议员联合参与税制改革论坛。论坛核心主张是推动"所得税综合主义"转型——<strong>无论资产是否出售,均以实质性净资产增值为课税依据,股票与房地产等投资资产的未实现收益亦在征税之列。</strong></p><p style=\"text-align: left;\">上述消息迅速在已承压的韩国股市引发连锁反应。KOSPI指数当日收跌10%,报8203.84点,创3月4日以来最大单日跌幅;<a href=\"https://laohu8.com/S/SMSD.UK\">三星电子</a>跌逾7%,SK海力士跌幅超10%。</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/ae2bcaef63b5a08f7f6833bfb743c20a\" data-align=\"center\" tg-width=\"1017\" tg-height=\"738\"/><span></span></p><p style=\"text-align: left;\">此次下跌亦与亚洲市场整体回调及外部因素高度共振:美联储加息预期重燃令美元走强,此前由AI热潮驱动的科技股估值遭到系统性压制。<a href=\"https://laohu8.com/S/MU\">美光科技</a>本周财报能否提振市场对AI需求的信心,将是投资者关注的下一个关键节点。</p><h2 style=\"text-align: left;\">税收论坛:未实现收益或纳入征税体系</h2><p style=\"text-align: left;\">据韩联社报道,<strong>此次论坛的核心议题是将现行按所得形式征税的制度,转变为按经济能力征税的综合主义框架——即不论资产形态与变现与否,均以实质性增加的净资产作为课税依据。</strong></p><p style=\"text-align: left;\">韩国国家财政研究所高级研究员李相敏指出,若课税仅发生在资产变现时点,纳税人将产生惜售动机以规避或延迟纳税,形成"冻结效应",阻碍资本向更高效率领域流动。</p><p style=\"text-align: left;\">论坛同时提出较为渐进的实施路径:<strong>未实现收益原则上认定为所得,但纳税义务可递延至变现时点,或附加利息后延期缴纳;对市价难以评估的不动产及非上市股票,可维持现行实现时点课税,或仅针对高净值资产持有者先行试点。</strong>韩国劳总国长朴基山则进一步呼吁恢复金融投资所得税,并通过增设税率档次提高超高收入群体的实际税负。</p><h2 style=\"text-align: left;\">熔断触发,监管层早已警示过热风险</h2><p style=\"text-align: left;\">征税"小作文"只是引发韩股周二暴跌的原因之一。</p><p style=\"text-align: left;\">首尔韩亚证券策略师Lee Jae Mahn表示目前韩国市场存在多项过热信号——其中最为突出的是SK海力士估值已高于三星电子。他认为,若KOSPI要进一步走高,三星电子股价涨幅必须领先于SK海力士,市场预期三星电子第二季度盈利将超越SK海力士。</p><p style=\"text-align: left;\">与此同时,韩国金融监管层对单只杠杆ETF的担忧亦持续升温。</p><p style=\"text-align: left;\">据彭博社报道,韩国金融监督院院长李灿镇周一在新闻发布会上表示,监管机构正与金融服务委员会及韩国交易所协调,评估包括加强交易模式监控在内的一系列稳定措施,以限制追踪三星电子和SK海力士的杠杆ETF剧烈波动带来的传染风险,并强调相关副作用正在"加剧"。</p><h2 style=\"text-align: left;\">外部压力叠加,AI热潮降温</h2><p style=\"text-align: left;\">美联储加息预期重燃构成另一重外部压力,韩国市场动荡亦与全球科技股普遍回调同步。</p><p style=\"text-align: left;\">美国银行首席美国经济学家Aditya Bhave在最新研究报告中预测,美联储将于9月、10月及12月各加息25个基点,联邦基金利率再上调75个基点,并预计2027年全年维持利率不变。Aditya Bhave坦言,美银此前对降息需求的怀疑态度"为时过早",最新数据已显示美国经济与通胀形势发生变化。<a href=\"https://laohu8.com/S/GS\">高盛</a>、<a href=\"https://laohu8.com/S/MS\">摩根士丹利</a>与<a href=\"https://laohu8.com/S/DB\">德意志银行</a>亦近期警告,服务业通胀、薪资增长及能源价格波动可能使通胀回落速度慢于预期。</p><p style=\"text-align: left;\">在前景展望方面,Pepperstone Group策略师Dilin Wu表示,美光科技本周财报将是真正的考验——若美光交出亮眼成绩单,将直接验证三星电子与SK海力士的基本面,并告诉市场AI硬件投资热潮是否仍具持续增长空间。与此同时,<a href=\"https://laohu8.com/S/GOOG\">谷歌</a>等科技巨头股价若持续下跌是否会压缩其资本支出计划,亦是市场密切关注的焦点。</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/493f6c627943328e024aa790abf4c4cf","relate_stocks":{"VXUS":"国际股票ETF-Vanguard","BK4588":"碎股","MKOR":"Matthews Korea Active ETF","FLKR":"Franklin FTSE South Korea ETF","KORU":"3倍做多韩国ETF-Direxion","LPL":"LG Display Co ADS","KT":"韩国电信","SKM":"韩国SK电信","DDI":"DoubleDown Interactive","07709":"南方两倍做多海力士","BK1148":"建筑与工程","GRVY":"重力社","KPOP":"KPOP AND KOREAN ENTERTAINMENT ETF","BK4585":"ETF&股票定投概念","07747":"南方两倍做多三星电子","KDEF":"PLUS Korea Defense Industry Index ETF","EWY":"韩国ETF-iShares MSCI","PKX":"浦项钢铁","KEP":"韩国电力","KF":"韩国基金","REET":"iShares Trust iShares Global REIT ETF","CPNG":"Coupang, Inc.","BK4535":"淡马锡持仓","SHG":"新韩金融","KB":"韩国国民银行"},"source_url":"https://wallstreetcn.com/articles/3775281","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2645864228","content_text":"一份关于将股票和房地产未实现收益纳入综合征税体系的政策讨论文件,令已处于高估值区间的韩国股市在6月23日骤然崩跌,KOSPI触发熔断,三星电子与SK海力士领跌。据韩联社报道,6月23日上午,韩国共同民主党、进步党、社会民主党等多党派国会议员联合参与税制改革论坛。论坛核心主张是推动\"所得税综合主义\"转型——无论资产是否出售,均以实质性净资产增值为课税依据,股票与房地产等投资资产的未实现收益亦在征税之列。上述消息迅速在已承压的韩国股市引发连锁反应。KOSPI指数当日收跌10%,报8203.84点,创3月4日以来最大单日跌幅;三星电子跌逾7%,SK海力士跌幅超10%。此次下跌亦与亚洲市场整体回调及外部因素高度共振:美联储加息预期重燃令美元走强,此前由AI热潮驱动的科技股估值遭到系统性压制。美光科技本周财报能否提振市场对AI需求的信心,将是投资者关注的下一个关键节点。税收论坛:未实现收益或纳入征税体系据韩联社报道,此次论坛的核心议题是将现行按所得形式征税的制度,转变为按经济能力征税的综合主义框架——即不论资产形态与变现与否,均以实质性增加的净资产作为课税依据。韩国国家财政研究所高级研究员李相敏指出,若课税仅发生在资产变现时点,纳税人将产生惜售动机以规避或延迟纳税,形成\"冻结效应\",阻碍资本向更高效率领域流动。论坛同时提出较为渐进的实施路径:未实现收益原则上认定为所得,但纳税义务可递延至变现时点,或附加利息后延期缴纳;对市价难以评估的不动产及非上市股票,可维持现行实现时点课税,或仅针对高净值资产持有者先行试点。韩国劳总国长朴基山则进一步呼吁恢复金融投资所得税,并通过增设税率档次提高超高收入群体的实际税负。熔断触发,监管层早已警示过热风险征税\"小作文\"只是引发韩股周二暴跌的原因之一。首尔韩亚证券策略师Lee Jae Mahn表示目前韩国市场存在多项过热信号——其中最为突出的是SK海力士估值已高于三星电子。他认为,若KOSPI要进一步走高,三星电子股价涨幅必须领先于SK海力士,市场预期三星电子第二季度盈利将超越SK海力士。与此同时,韩国金融监管层对单只杠杆ETF的担忧亦持续升温。据彭博社报道,韩国金融监督院院长李灿镇周一在新闻发布会上表示,监管机构正与金融服务委员会及韩国交易所协调,评估包括加强交易模式监控在内的一系列稳定措施,以限制追踪三星电子和SK海力士的杠杆ETF剧烈波动带来的传染风险,并强调相关副作用正在\"加剧\"。外部压力叠加,AI热潮降温美联储加息预期重燃构成另一重外部压力,韩国市场动荡亦与全球科技股普遍回调同步。美国银行首席美国经济学家Aditya Bhave在最新研究报告中预测,美联储将于9月、10月及12月各加息25个基点,联邦基金利率再上调75个基点,并预计2027年全年维持利率不变。Aditya Bhave坦言,美银此前对降息需求的怀疑态度\"为时过早\",最新数据已显示美国经济与通胀形势发生变化。高盛、摩根士丹利与德意志银行亦近期警告,服务业通胀、薪资增长及能源价格波动可能使通胀回落速度慢于预期。在前景展望方面,Pepperstone Group策略师Dilin Wu表示,美光科技本周财报将是真正的考验——若美光交出亮眼成绩单,将直接验证三星电子与SK海力士的基本面,并告诉市场AI硬件投资热潮是否仍具持续增长空间。与此同时,谷歌等科技巨头股价若持续下跌是否会压缩其资本支出计划,亦是市场密切关注的焦点。","news_type":1,"symbols_score_info":{"DDI":2,"SHG":2,"SKM":2,"LPL":2,"GRVY":2,"REET":1.5,"FLKR":2,"KPOP":2,"VXUS":1.5,"07747":2.1,"07709":2.1,"PKX":2,"KB":2,"KEP":2,"KDEF":2,"CPNG":2,"MKOR":2,"EWY":2,"KT":2,"KF":2,"KORU":2}},"isVote":1,"tweetType":1,"viewCount":490,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":577425302455648,"gmtCreate":1781996460366,"gmtModify":1782011067742,"author":{"id":"4228385961123602","authorId":"4228385961123602","name":"HAKUBUN","avatar":"https://static.tigerbbs.com/97e39f638d455bd5828c866ff7fee9d7","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4228385961123602","idStr":"4228385961123602"},"themes":[],"title":"","htmlText":"伊朗这种新闻,是对内的。","listText":"伊朗这种新闻,是对内的。","text":"伊朗这种新闻,是对内的。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/577425302455648","repostId":"1144814052","repostType":2,"repost":{"id":"1144814052","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据,旨在帮助投资者理解世界,做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1781967475,"share":"https://www.laohunote.com/m/news/1144814052?lang=zh_CN&edition=full","pubTime":"2026-06-20 22:57","market":"us","language":"zh","title":"伊朗武装部队表示霍尔木兹海峡已关闭,美军称暂未观察到伊朗关闭霍尔木兹海峡","url":"https://stock-news.laohu8.com/highlight/detail?id=1144814052","media":"老虎资讯综合","summary":"伊朗武装部队:霍尔木兹海峡已关闭据新华社德黑兰6月20日电 据伊朗塔斯尼姆通讯社20日报道,伊朗武装部队哈塔姆安比亚中央总部当天发表声明说,鉴于美国未履行有关结束冲突谅解备忘录中的首项承诺,以及以色列持续违反停火协议,伊方决定关闭霍尔木兹海峡,禁止船只通行。声明表示,关闭霍尔木兹海峡是对敌方“违约和失信行为”的第一步回应。","content":"<html><head></head><body><p style=\"text-align: left;\"><span><strong>伊朗武装部队:霍尔木兹海峡已关闭</strong></span></p><p style=\"text-align: left;\">据新华社德黑兰6月20日电 据伊朗塔斯尼姆通讯社20日报道,伊朗武装部队哈塔姆安比亚中央总部当天发表声明说,鉴于美国未履行有关结束冲突谅解备忘录中的首项承诺,以及以色列持续违反停火协议,伊方决定关闭霍尔木兹海峡,禁止船只通行。</p><p style=\"text-align: left;\">声明还说,以方持续在黎巴嫩南部发动军事行动,造成大量平民伤亡、数十万人流离失所。同时,以军尚未从黎巴嫩南部相关地区撤离。鉴于上述情况,以及美国未履行有关谅解备忘录中的承诺,伊方决定采取上述措施作为回应。</p><p style=\"text-align: left;\">声明表示,关闭霍尔木兹海峡是对敌方“违约和失信行为”的第一步回应。如果相关军事行动和“侵略行为”继续,伊方将采取进一步措施,迫使对方履行有关承诺和义务。</p><p style=\"text-align: left;\"><span><strong>美军称暂未观察到伊朗关闭霍尔木兹海峡</strong></span></p><p style=\"text-align: justify;\">据新华社华盛顿6月20日电 据美国媒体20日援引美国高级官员的话报道称,美军暂未观察到伊朗关闭霍尔木兹海峡的军事动向。</p><p style=\"text-align: justify;\"><span><strong>伊朗谈判代表已启程前往瑞士</strong></span></p><p style=\"text-align: justify;\">据新华社德黑兰6月20日电 据伊朗媒体20日报道,伊朗谈判代表已启程前往瑞士,就谅解备忘录与美方进行讨论。</p><p style=\"text-align: justify;\"><span><strong>万斯将赴瑞士与伊朗谈判</strong></span></p><p style=\"text-align: justify;\">据新华社华盛顿6月20日电 美国副总统万斯20日表示,他预计将很快启程前往瑞士与伊朗代表举行谈判。</p><p style=\"text-align: justify;\">万斯在接受福克斯新闻频道采访时表示,目前没有看到霍尔木兹海峡已经关闭的证据,相信美伊谅解备忘录的停火安排能够持续。</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>伊朗武装部队表示霍尔木兹海峡已关闭,美军称暂未观察到伊朗关闭霍尔木兹海峡</title>\n<style 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margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n伊朗武装部队表示霍尔木兹海峡已关闭,美军称暂未观察到伊朗关闭霍尔木兹海峡\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time\">2026-06-20 22:57</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p style=\"text-align: left;\"><span><strong>伊朗武装部队:霍尔木兹海峡已关闭</strong></span></p><p style=\"text-align: left;\">据新华社德黑兰6月20日电 据伊朗塔斯尼姆通讯社20日报道,伊朗武装部队哈塔姆安比亚中央总部当天发表声明说,鉴于美国未履行有关结束冲突谅解备忘录中的首项承诺,以及以色列持续违反停火协议,伊方决定关闭霍尔木兹海峡,禁止船只通行。</p><p style=\"text-align: left;\">声明还说,以方持续在黎巴嫩南部发动军事行动,造成大量平民伤亡、数十万人流离失所。同时,以军尚未从黎巴嫩南部相关地区撤离。鉴于上述情况,以及美国未履行有关谅解备忘录中的承诺,伊方决定采取上述措施作为回应。</p><p style=\"text-align: left;\">声明表示,关闭霍尔木兹海峡是对敌方“违约和失信行为”的第一步回应。如果相关军事行动和“侵略行为”继续,伊方将采取进一步措施,迫使对方履行有关承诺和义务。</p><p style=\"text-align: left;\"><span><strong>美军称暂未观察到伊朗关闭霍尔木兹海峡</strong></span></p><p style=\"text-align: justify;\">据新华社华盛顿6月20日电 据美国媒体20日援引美国高级官员的话报道称,美军暂未观察到伊朗关闭霍尔木兹海峡的军事动向。</p><p style=\"text-align: justify;\"><span><strong>伊朗谈判代表已启程前往瑞士</strong></span></p><p style=\"text-align: justify;\">据新华社德黑兰6月20日电 据伊朗媒体20日报道,伊朗谈判代表已启程前往瑞士,就谅解备忘录与美方进行讨论。</p><p style=\"text-align: justify;\"><span><strong>万斯将赴瑞士与伊朗谈判</strong></span></p><p style=\"text-align: justify;\">据新华社华盛顿6月20日电 美国副总统万斯20日表示,他预计将很快启程前往瑞士与伊朗代表举行谈判。</p><p style=\"text-align: justify;\">万斯在接受福克斯新闻频道采访时表示,目前没有看到霍尔木兹海峡已经关闭的证据,相信美伊谅解备忘录的停火安排能够持续。</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://community-static.tradeup.com/news/9693162a6637965a02f6a988f059f3bd","relate_stocks":{"USO":"美国原油ETF"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1144814052","content_text":"伊朗武装部队:霍尔木兹海峡已关闭据新华社德黑兰6月20日电 据伊朗塔斯尼姆通讯社20日报道,伊朗武装部队哈塔姆安比亚中央总部当天发表声明说,鉴于美国未履行有关结束冲突谅解备忘录中的首项承诺,以及以色列持续违反停火协议,伊方决定关闭霍尔木兹海峡,禁止船只通行。声明还说,以方持续在黎巴嫩南部发动军事行动,造成大量平民伤亡、数十万人流离失所。同时,以军尚未从黎巴嫩南部相关地区撤离。鉴于上述情况,以及美国未履行有关谅解备忘录中的承诺,伊方决定采取上述措施作为回应。声明表示,关闭霍尔木兹海峡是对敌方“违约和失信行为”的第一步回应。如果相关军事行动和“侵略行为”继续,伊方将采取进一步措施,迫使对方履行有关承诺和义务。美军称暂未观察到伊朗关闭霍尔木兹海峡据新华社华盛顿6月20日电 据美国媒体20日援引美国高级官员的话报道称,美军暂未观察到伊朗关闭霍尔木兹海峡的军事动向。伊朗谈判代表已启程前往瑞士据新华社德黑兰6月20日电 据伊朗媒体20日报道,伊朗谈判代表已启程前往瑞士,就谅解备忘录与美方进行讨论。万斯将赴瑞士与伊朗谈判据新华社华盛顿6月20日电 美国副总统万斯20日表示,他预计将很快启程前往瑞士与伊朗代表举行谈判。万斯在接受福克斯新闻频道采访时表示,目前没有看到霍尔木兹海峡已经关闭的证据,相信美伊谅解备忘录的停火安排能够持续。","news_type":1,"symbols_score_info":{"CLmain":2,"USO":2,"BZmain":2}},"isVote":1,"tweetType":1,"viewCount":519,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":576277951042504,"gmtCreate":1781716339943,"gmtModify":1781720110007,"author":{"id":"4228385961123602","authorId":"4228385961123602","name":"HAKUBUN","avatar":"https://static.tigerbbs.com/97e39f638d455bd5828c866ff7fee9d7","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4228385961123602","idStr":"4228385961123602"},"themes":[],"title":"","htmlText":"以色列千万不要再搞事情了。","listText":"以色列千万不要再搞事情了。","text":"以色列千万不要再搞事情了。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/576277951042504","repostId":"1157120159","repostType":2,"repost":{"id":"1157120159","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据,旨在帮助投资者理解世界,做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1781709737,"share":"https://www.laohunote.com/m/news/1157120159?lang=zh_CN&edition=full","pubTime":"2026-06-17 23:22","market":"us","language":"zh","title":"消息人士:美伊磋商提前签署相关协议","url":"https://stock-news.laohu8.com/highlight/detail?id=1157120159","media":"老虎资讯综合","summary":"特朗普政府、伊朗及各方斡旋方正商议将一份谅解备忘录的签署时间提前,最早有望于本周三以远程方式完成签署。","content":"<html><head></head><body><p style=\"text-align: left;\">据多位消息人士透露,特朗普政府、伊朗及各方斡旋方正商议将一份谅解备忘录的签署时间提前,最早有望于本周三以远程方式完成签署。 </p><p style=\"text-align: left;\">若此事敲定,协议中有关重新开放霍尔木兹海峡的相关条款或将提前生效,协议文本也会对外公布。</p><p style=\"text-align: left;\">目前最终签署时间尚未敲定,原定本周五在瑞士举行的谈判仍计划如期开展。</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>消息人士:美伊磋商提前签署相关协议</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n消息人士:美伊磋商提前签署相关协议\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time\">2026-06-17 23:22</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p style=\"text-align: left;\">据多位消息人士透露,特朗普政府、伊朗及各方斡旋方正商议将一份谅解备忘录的签署时间提前,最早有望于本周三以远程方式完成签署。 </p><p style=\"text-align: left;\">若此事敲定,协议中有关重新开放霍尔木兹海峡的相关条款或将提前生效,协议文本也会对外公布。</p><p style=\"text-align: left;\">目前最终签署时间尚未敲定,原定本周五在瑞士举行的谈判仍计划如期开展。</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://community-static.tradeup.com/news/ae19786f4043b41efa9dba2e5214b0af","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1157120159","content_text":"据多位消息人士透露,特朗普政府、伊朗及各方斡旋方正商议将一份谅解备忘录的签署时间提前,最早有望于本周三以远程方式完成签署。 若此事敲定,协议中有关重新开放霍尔木兹海峡的相关条款或将提前生效,协议文本也会对外公布。目前最终签署时间尚未敲定,原定本周五在瑞士举行的谈判仍计划如期开展。","news_type":1,"symbols_score_info":{".IXIC":2,"CLmain":2,"NQmain":2,"BZmain":2,"YMmain":2,".SPX":2,".DJI":2,"ESmain":2}},"isVote":1,"tweetType":1,"viewCount":388,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":572293377577616,"gmtCreate":1780742387175,"gmtModify":1780744309448,"author":{"id":"4228385961123602","authorId":"4228385961123602","name":"HAKUBUN","avatar":"https://static.tigerbbs.com/97e39f638d455bd5828c866ff7fee9d7","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4228385961123602","idStr":"4228385961123602"},"themes":[],"title":"","htmlText":"在某些地区,这算是损害商业信誉,商品声誉罪吧","listText":"在某些地区,这算是损害商业信誉,商品声誉罪吧","text":"在某些地区,这算是损害商业信誉,商品声誉罪吧","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/572293377577616","repostId":"2641126679","repostType":2,"repost":{"id":"2641126679","kind":"highlight","weMediaInfo":{"introduction":"追踪全球财经热点,精选影响您财富的资讯,投资理财必备神器!","home_visible":1,"media_name":"华尔街见闻","id":"1084101182","head_image":"https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e"},"pubTimestamp":1780718953,"share":"https://www.laohunote.com/m/news/2641126679?lang=zh_CN&edition=full","pubTime":"2026-06-06 12:09","market":"us","language":"zh","title":"“黑色星期五”的导火索?Semianalysis报告“重创”美光","url":"https://stock-news.laohu8.com/highlight/detail?id=2641126679","media":"华尔街见闻","summary":"SemiAnalysis发布关于英伟达削减内存容量的报告,被市场解读为AI需求降温,导致美光在获英伟达HBM4认证的同日股价重挫13%,创2025年4月以来最大单日跌幅。该机构虽否认看空,但因其屡次发布看空美光的误导性叙事且频遭基本面“打脸”,正引发市场对其研究质量的强烈质疑。","content":"<html><head></head><body><p style=\"text-align: left;\">一份来自半导体研究机构SemiAnalysis的报告,再度成为<a href=\"https://laohu8.com/S/MU\">美光科技</a>股价单日重挫的导火索。</p><p style=\"text-align: left;\">周五,美光股价收跌13%,创下2025年4月以来最大单日跌幅,而这已是SemiAnalysis多次发布看空美光相关报告后引发市场恐慌的最新一例。</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/cfd865fd1d9918ae29bf5d09c0818b01\" data-align=\"center\" tg-width=\"2302\" tg-height=\"1466\"/><span></span></p><p style=\"text-align: left;\">本次下跌的直接触发点,是SemiAnalysis发布报告称,<strong><a href=\"https://laohu8.com/S/NVDA\">英伟达</a>已将其下一代Vera Rubin服务器机架的模块化内存容量从55TB大幅削减至28TB,市场将此解读为AI内存需求降温的信号。</strong></p><p style=\"text-align: left;\">消息一出,美光股价当日重挫,半导体板块全线承压,三大股指悉数收跌。值得注意的是,就在同一天,英伟达CEO黄仁勋公开宣布,美光已与SK海力士、<a href=\"https://laohu8.com/S/SMSN.UK\">三星</a>一同通过英伟达HBM4认证,成为最新一代高带宽内存的合格供应商。</p><p style=\"text-align: left;\"><strong>然而,利好消息未能抵挡报告引发的抛售浪潮。</strong>SemiAnalysis随后在社交平台X上发文回应,称其分析"并无任何看空之处",但这一辩解在市场上几乎未能引发任何反转。</p><p style=\"text-align: left;\">与此同时,多位市场人士和网友对SemiAnalysis的研究质量及信息传播方式提出强烈质疑,认为<strong>该机构已多次以"深度研究"之名制造看空美光的叙事,却屡屡被股价走势和公司基本面所打脸。</strong></p><h2 style=\"text-align: left;\">利好与利空同日上演,美光单日重挫13%</h2><p style=\"text-align: left;\">周五对美光而言是矛盾的一天。</p><p style=\"text-align: left;\">黄仁勋在公开场合确认,<strong>美光已与SK海力士和三星并列,成为英伟达HBM4认证供应商。</strong></p><p style=\"text-align: left;\">华尔街分析师此前普遍预期英伟达将采用三家供应商,但KeyBanc分析师John Vinh曾指出SK海力士和美光在满足英伟达标准方面存在一定问题。因此,此次官方认证对美光而言本应是重大利好。</p><p style=\"text-align: left;\">然而,美光股价当日仍收跌13%,报864.01美元,为2025年4月以来最大单日跌幅。叠加周四7.7%的跌幅,美光两日累计跌幅已超过20%。</p><p style=\"text-align: left;\"><strong>据道琼斯市场数据,此前美光股价在过去12个月内累计涨幅超过735%,高估值令其对任何获利回吐行为都极为敏感。</strong></p><h2 style=\"text-align: left;\">SemiAnalysis报告的核心争议:模块化内存还是HBM?</h2><p style=\"text-align: left;\">本次引发市场波动的SemiAnalysis报告,核心内容是<strong>英伟达削减了Vera Rubin服务器机架的模块化内存(SOCAMM DRAM)容量。</strong></p><p style=\"text-align: left;\">需要指出的是,模块化内存与驱动AI服务器内存芯片需求的高带宽内存(HBM)是两个不同的产品类别。SemiAnalysis创始人Dylan Patel随后发文澄清,称该机构的分析"并无任何看空之处"。</p><p style=\"text-align: left;\">据巴伦周刊报道,英伟达削减模块化内存容量,实际上可能反映的是HBM挤出效应正在发生——由于HBM生产极为耗费晶圆产能(每单位HBM所需晶圆产能约为标准内存的三倍),HBM供应扩张必然压缩其他内存类型的产能,并推高整个内存行业的价格。</p><p style=\"text-align: left;\">研究机构Trendforce的分析师写道:</p><blockquote><p style=\"text-align: left;\">"随着HBM技术代际在2027年持续演进,芯片尺寸扩大与需求同步上升,对传统DRAM产能的挤出效应预计将进一步加剧。这将为供应商提供充分理由上调HBM价格,并强化其在明年HBM谈判中的定价权。"</p></blockquote><h2 style=\"text-align: left;\">屡次"看空"屡次被打脸,SemiAnalysis成争议焦点</h2><p style=\"text-align: left;\">此次事件并非SemiAnalysis第一次因涉及美光的报告引发市场波动,也并非第一次事后被证明方向有误。</p><p style=\"text-align: left;\">社交平台X用户@Klaytonlolus整理了SemiAnalysis过去数月内多次发布看空美光相关报告的时间线:</p><blockquote><ul><li><p style=\"text-align: left;\"><strong>1月初</strong>,SemiAnalysis称美光HBM4样品引脚速度偏弱,落后于SK海力士和三星。彼时美光股价约430美元,此后涨至920美元以上,涨幅逾114%。</p></li><li><p style=\"text-align: left;\"><strong>1月28日</strong>,SemiAnalysis称英伟达Rubin首年HBM4订单"看不到美光的身影"。彼时美光股价435.28美元,此后同样涨至920美元以上,涨幅逾111%。</p></li><li><p style=\"text-align: left;\"><strong>2月6日</strong>,SemiAnalysis发布最具影响力的一篇报告,称美光在Rubin首个12个月内的HBM4份额"基本归零"。彼时美光股价394.69美元,此后涨至920美元以上,涨幅逾133%;若从3月低点321美元算起,涨幅更超186%。</p></li><li><p style=\"text-align: left;\"><strong>6月4日至5日</strong>,SemiAnalysis再度发布报告,称英伟达削减Vera Rubin CPU侧SOCAMM DRAM容量,暗示内存需求降温。美光6月4日收于996美元,次日跌至920美元附近,单日跌幅约7.5%。</p></li></ul><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/15b9dcfa6eac78d1d611137d196d7b67\" data-align=\"center\" tg-width=\"528\" tg-height=\"767\"/><span></span></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/7cd80a19931ad976fbaedff42ec5c6b4\" data-align=\"center\" tg-width=\"523\" tg-height=\"465\"/><span></span></p></blockquote><p style=\"text-align: left;\">Klaytonlolus在帖子中写道:</p><blockquote><p style=\"text-align: left;\">"这已经不只是'一次判断失误'的问题。这是反复以极度自信的语气,将供应链故事包装成深度行业研究,然后被股价、基本面和AI内存超级周期狠狠打脸。"</p></blockquote><h2 style=\"text-align: left;\">SemiAnalysis回应:信息不对称之争</h2><p style=\"text-align: left;\">面对外界批评,SemiAnalysis回应称,其报告的真实结论是"美光HBM延迟对美光而言是利好,因为普通DDR的利润率高于HBM",并表示批评者根本没有读过完整报告,"那些这么说的人甚至没有订阅权限"。</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/c9ceddc1710699824418c779e6510fcd\" data-align=\"center\" tg-width=\"530\" tg-height=\"138\"/><span></span></p><p style=\"text-align: left;\">然而,这一回应本身也引发了新的争议。用户Vinit Baliyan质问道:</p><blockquote><p style=\"text-align: left;\">"为什么你们不能向更广泛的订阅用户分享这类信息?你们是否在向机构客户提供准确信息,同时让普通订阅者和散户陷入困惑?这实际上是在给你们的富有客户提供不对称优势,代价是散户投资者的利益。"</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/5ee670b5f94ea818e75b3eede14033f3\" data-align=\"center\" tg-width=\"537\" tg-height=\"307\"/><span></span></p></blockquote><p style=\"text-align: left;\">另一位用户Klaytonlolus则指出,SemiAnalysis的报告被多家媒体广泛引用,核心信息被解读为"英伟达未向美光下达HBM4订单",这是明确的看空框架。美光CFO随后公开反驳"不准确的报道",称HBM4已进入大规模量产阶段,客户出货已经开始,且量产节奏比此前预期提前了一个季度。美光随后正式宣布HBM4 36GB 12H进入大规模量产,专为英伟达Vera Rubin设计,带宽超过2.8 TB/s,能效提升逾20%。</p><p style=\"text-align: left;\">Klaytonlolus写道,"问题不在于读者是否读了完整报告,问题在于你们的标题、摘要和框架制造了明确的看空美光叙事,而这一叙事后来被美光管理层和官方产品公告所推翻。这不是'深度研究',这是不负责任的框架,加上事后的危机公关。"</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/94e709dfd649e05e675b89fbc44082ee\" data-align=\"center\" tg-width=\"529\" tg-height=\"609\"/><span></span></p><p style=\"text-align: left;\">尽管批评声浪不小,SemiAnalysis在业内仍有一定支持者。</p><p style=\"text-align: left;\">付费订阅用户"Macho Man Randy Newman"表示,</p><blockquote><p style=\"text-align: left;\">SemiAnalysis的深度报告帮助他在内存股已大幅上涨后仍坚定持仓,目前其美光持仓已实现22倍回报。他认为,SemiAnalysis提供的是详细的事实性报道,但其编辑性结论则需要读者自行判断。</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/8b900c6ff2a4481dcea88962e9f6a01f\" data-align=\"center\" tg-width=\"535\" tg-height=\"157\"/><span></span></p></blockquote><p style=\"text-align: left;\">用户Dave则持中立立场:</p><blockquote><p style=\"text-align: left;\">"无论这些博客和Substack写得多么详尽,它们终究只是它们本身。做好自己的研究,如果你有信念,就必须过滤掉噪音。我个人认为SemiAnalysis提供的信号多于噪音,但没有人是没有偏见的。"</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/a9d56241a1a2580004cf43076e1c9a19\" data-align=\"center\" tg-width=\"531\" tg-height=\"160\"/><span></span></p></blockquote><p style=\"text-align: left;\">也有用户将矛头指向更深层的市场结构问题。用户IVCrushLeague评论道:</p><blockquote><p style=\"text-align: left;\">"如果一位分析师对SK海力士或三星的判断出错到这种程度,他们早就要躲起来了。这也是为什么这类恐慌性信息主要针对美光。"</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/58845bdfa0f3e44592d42945386024aa\" data-align=\"center\" tg-width=\"531\" tg-height=\"137\"/><span></span></p></blockquote></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>“黑色星期五”的导火索?Semianalysis报告“重创”美光</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n“黑色星期五”的导火索?Semianalysis报告“重创”美光\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1084101182\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">华尔街见闻 </p>\n<p class=\"h-time\">2026-06-06 12:09</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p style=\"text-align: left;\">一份来自半导体研究机构SemiAnalysis的报告,再度成为<a href=\"https://laohu8.com/S/MU\">美光科技</a>股价单日重挫的导火索。</p><p style=\"text-align: left;\">周五,美光股价收跌13%,创下2025年4月以来最大单日跌幅,而这已是SemiAnalysis多次发布看空美光相关报告后引发市场恐慌的最新一例。</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/cfd865fd1d9918ae29bf5d09c0818b01\" data-align=\"center\" tg-width=\"2302\" tg-height=\"1466\"/><span></span></p><p style=\"text-align: left;\">本次下跌的直接触发点,是SemiAnalysis发布报告称,<strong><a href=\"https://laohu8.com/S/NVDA\">英伟达</a>已将其下一代Vera Rubin服务器机架的模块化内存容量从55TB大幅削减至28TB,市场将此解读为AI内存需求降温的信号。</strong></p><p style=\"text-align: left;\">消息一出,美光股价当日重挫,半导体板块全线承压,三大股指悉数收跌。值得注意的是,就在同一天,英伟达CEO黄仁勋公开宣布,美光已与SK海力士、<a href=\"https://laohu8.com/S/SMSN.UK\">三星</a>一同通过英伟达HBM4认证,成为最新一代高带宽内存的合格供应商。</p><p style=\"text-align: left;\"><strong>然而,利好消息未能抵挡报告引发的抛售浪潮。</strong>SemiAnalysis随后在社交平台X上发文回应,称其分析"并无任何看空之处",但这一辩解在市场上几乎未能引发任何反转。</p><p style=\"text-align: left;\">与此同时,多位市场人士和网友对SemiAnalysis的研究质量及信息传播方式提出强烈质疑,认为<strong>该机构已多次以"深度研究"之名制造看空美光的叙事,却屡屡被股价走势和公司基本面所打脸。</strong></p><h2 style=\"text-align: left;\">利好与利空同日上演,美光单日重挫13%</h2><p style=\"text-align: left;\">周五对美光而言是矛盾的一天。</p><p style=\"text-align: left;\">黄仁勋在公开场合确认,<strong>美光已与SK海力士和三星并列,成为英伟达HBM4认证供应商。</strong></p><p style=\"text-align: left;\">华尔街分析师此前普遍预期英伟达将采用三家供应商,但KeyBanc分析师John Vinh曾指出SK海力士和美光在满足英伟达标准方面存在一定问题。因此,此次官方认证对美光而言本应是重大利好。</p><p style=\"text-align: left;\">然而,美光股价当日仍收跌13%,报864.01美元,为2025年4月以来最大单日跌幅。叠加周四7.7%的跌幅,美光两日累计跌幅已超过20%。</p><p style=\"text-align: left;\"><strong>据道琼斯市场数据,此前美光股价在过去12个月内累计涨幅超过735%,高估值令其对任何获利回吐行为都极为敏感。</strong></p><h2 style=\"text-align: left;\">SemiAnalysis报告的核心争议:模块化内存还是HBM?</h2><p style=\"text-align: left;\">本次引发市场波动的SemiAnalysis报告,核心内容是<strong>英伟达削减了Vera Rubin服务器机架的模块化内存(SOCAMM DRAM)容量。</strong></p><p style=\"text-align: left;\">需要指出的是,模块化内存与驱动AI服务器内存芯片需求的高带宽内存(HBM)是两个不同的产品类别。SemiAnalysis创始人Dylan Patel随后发文澄清,称该机构的分析"并无任何看空之处"。</p><p style=\"text-align: left;\">据巴伦周刊报道,英伟达削减模块化内存容量,实际上可能反映的是HBM挤出效应正在发生——由于HBM生产极为耗费晶圆产能(每单位HBM所需晶圆产能约为标准内存的三倍),HBM供应扩张必然压缩其他内存类型的产能,并推高整个内存行业的价格。</p><p style=\"text-align: left;\">研究机构Trendforce的分析师写道:</p><blockquote><p style=\"text-align: left;\">"随着HBM技术代际在2027年持续演进,芯片尺寸扩大与需求同步上升,对传统DRAM产能的挤出效应预计将进一步加剧。这将为供应商提供充分理由上调HBM价格,并强化其在明年HBM谈判中的定价权。"</p></blockquote><h2 style=\"text-align: left;\">屡次"看空"屡次被打脸,SemiAnalysis成争议焦点</h2><p style=\"text-align: left;\">此次事件并非SemiAnalysis第一次因涉及美光的报告引发市场波动,也并非第一次事后被证明方向有误。</p><p style=\"text-align: left;\">社交平台X用户@Klaytonlolus整理了SemiAnalysis过去数月内多次发布看空美光相关报告的时间线:</p><blockquote><ul><li><p style=\"text-align: left;\"><strong>1月初</strong>,SemiAnalysis称美光HBM4样品引脚速度偏弱,落后于SK海力士和三星。彼时美光股价约430美元,此后涨至920美元以上,涨幅逾114%。</p></li><li><p style=\"text-align: left;\"><strong>1月28日</strong>,SemiAnalysis称英伟达Rubin首年HBM4订单"看不到美光的身影"。彼时美光股价435.28美元,此后同样涨至920美元以上,涨幅逾111%。</p></li><li><p style=\"text-align: left;\"><strong>2月6日</strong>,SemiAnalysis发布最具影响力的一篇报告,称美光在Rubin首个12个月内的HBM4份额"基本归零"。彼时美光股价394.69美元,此后涨至920美元以上,涨幅逾133%;若从3月低点321美元算起,涨幅更超186%。</p></li><li><p style=\"text-align: left;\"><strong>6月4日至5日</strong>,SemiAnalysis再度发布报告,称英伟达削减Vera Rubin CPU侧SOCAMM DRAM容量,暗示内存需求降温。美光6月4日收于996美元,次日跌至920美元附近,单日跌幅约7.5%。</p></li></ul><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/15b9dcfa6eac78d1d611137d196d7b67\" data-align=\"center\" tg-width=\"528\" tg-height=\"767\"/><span></span></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/7cd80a19931ad976fbaedff42ec5c6b4\" data-align=\"center\" tg-width=\"523\" tg-height=\"465\"/><span></span></p></blockquote><p style=\"text-align: left;\">Klaytonlolus在帖子中写道:</p><blockquote><p style=\"text-align: left;\">"这已经不只是'一次判断失误'的问题。这是反复以极度自信的语气,将供应链故事包装成深度行业研究,然后被股价、基本面和AI内存超级周期狠狠打脸。"</p></blockquote><h2 style=\"text-align: left;\">SemiAnalysis回应:信息不对称之争</h2><p style=\"text-align: left;\">面对外界批评,SemiAnalysis回应称,其报告的真实结论是"美光HBM延迟对美光而言是利好,因为普通DDR的利润率高于HBM",并表示批评者根本没有读过完整报告,"那些这么说的人甚至没有订阅权限"。</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/c9ceddc1710699824418c779e6510fcd\" data-align=\"center\" tg-width=\"530\" tg-height=\"138\"/><span></span></p><p style=\"text-align: left;\">然而,这一回应本身也引发了新的争议。用户Vinit Baliyan质问道:</p><blockquote><p style=\"text-align: left;\">"为什么你们不能向更广泛的订阅用户分享这类信息?你们是否在向机构客户提供准确信息,同时让普通订阅者和散户陷入困惑?这实际上是在给你们的富有客户提供不对称优势,代价是散户投资者的利益。"</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/5ee670b5f94ea818e75b3eede14033f3\" data-align=\"center\" tg-width=\"537\" tg-height=\"307\"/><span></span></p></blockquote><p style=\"text-align: left;\">另一位用户Klaytonlolus则指出,SemiAnalysis的报告被多家媒体广泛引用,核心信息被解读为"英伟达未向美光下达HBM4订单",这是明确的看空框架。美光CFO随后公开反驳"不准确的报道",称HBM4已进入大规模量产阶段,客户出货已经开始,且量产节奏比此前预期提前了一个季度。美光随后正式宣布HBM4 36GB 12H进入大规模量产,专为英伟达Vera Rubin设计,带宽超过2.8 TB/s,能效提升逾20%。</p><p style=\"text-align: left;\">Klaytonlolus写道,"问题不在于读者是否读了完整报告,问题在于你们的标题、摘要和框架制造了明确的看空美光叙事,而这一叙事后来被美光管理层和官方产品公告所推翻。这不是'深度研究',这是不负责任的框架,加上事后的危机公关。"</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/94e709dfd649e05e675b89fbc44082ee\" data-align=\"center\" tg-width=\"529\" tg-height=\"609\"/><span></span></p><p style=\"text-align: left;\">尽管批评声浪不小,SemiAnalysis在业内仍有一定支持者。</p><p style=\"text-align: left;\">付费订阅用户"Macho Man Randy Newman"表示,</p><blockquote><p style=\"text-align: left;\">SemiAnalysis的深度报告帮助他在内存股已大幅上涨后仍坚定持仓,目前其美光持仓已实现22倍回报。他认为,SemiAnalysis提供的是详细的事实性报道,但其编辑性结论则需要读者自行判断。</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/8b900c6ff2a4481dcea88962e9f6a01f\" data-align=\"center\" tg-width=\"535\" tg-height=\"157\"/><span></span></p></blockquote><p style=\"text-align: left;\">用户Dave则持中立立场:</p><blockquote><p style=\"text-align: left;\">"无论这些博客和Substack写得多么详尽,它们终究只是它们本身。做好自己的研究,如果你有信念,就必须过滤掉噪音。我个人认为SemiAnalysis提供的信号多于噪音,但没有人是没有偏见的。"</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/a9d56241a1a2580004cf43076e1c9a19\" data-align=\"center\" tg-width=\"531\" tg-height=\"160\"/><span></span></p></blockquote><p style=\"text-align: left;\">也有用户将矛头指向更深层的市场结构问题。用户IVCrushLeague评论道:</p><blockquote><p style=\"text-align: left;\">"如果一位分析师对SK海力士或三星的判断出错到这种程度,他们早就要躲起来了。这也是为什么这类恐慌性信息主要针对美光。"</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/58845bdfa0f3e44592d42945386024aa\" data-align=\"center\" tg-width=\"531\" tg-height=\"137\"/><span></span></p></blockquote></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/a00dac9da971ee0e08b72a17d0d0b507","relate_stocks":{"BK4141":"半导体产品","LU1366333091.USD":"FIDELITY GLOBAL FOCUS \"A\" (USD) ACC","BK4585":"ETF&股票定投概念","IE0009356076.USD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A2\" (USD) ACC","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","LU0203345920.USD":"SCHRODER ISF QEP GLB ACT. 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ACC","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","LU2750360997.AUD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (AUDHDG) INC","BK4553":"喜马拉雅资本持仓","BK4527":"明星科技股","LU0274383776.USD":"MANULIFE GF US SMALL CAP EQUITY \"AA\" (USD) INC","LU2089985449.USD":"MANULIFE GF GLOBAL SEMICONDUCTOR OPPORTUNITIES \"AA\" (USD) ACC"},"source_url":"https://wallstreetcn.com/articles/3774017","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2641126679","content_text":"一份来自半导体研究机构SemiAnalysis的报告,再度成为美光科技股价单日重挫的导火索。周五,美光股价收跌13%,创下2025年4月以来最大单日跌幅,而这已是SemiAnalysis多次发布看空美光相关报告后引发市场恐慌的最新一例。本次下跌的直接触发点,是SemiAnalysis发布报告称,英伟达已将其下一代Vera Rubin服务器机架的模块化内存容量从55TB大幅削减至28TB,市场将此解读为AI内存需求降温的信号。消息一出,美光股价当日重挫,半导体板块全线承压,三大股指悉数收跌。值得注意的是,就在同一天,英伟达CEO黄仁勋公开宣布,美光已与SK海力士、三星一同通过英伟达HBM4认证,成为最新一代高带宽内存的合格供应商。然而,利好消息未能抵挡报告引发的抛售浪潮。SemiAnalysis随后在社交平台X上发文回应,称其分析\"并无任何看空之处\",但这一辩解在市场上几乎未能引发任何反转。与此同时,多位市场人士和网友对SemiAnalysis的研究质量及信息传播方式提出强烈质疑,认为该机构已多次以\"深度研究\"之名制造看空美光的叙事,却屡屡被股价走势和公司基本面所打脸。利好与利空同日上演,美光单日重挫13%周五对美光而言是矛盾的一天。黄仁勋在公开场合确认,美光已与SK海力士和三星并列,成为英伟达HBM4认证供应商。华尔街分析师此前普遍预期英伟达将采用三家供应商,但KeyBanc分析师John Vinh曾指出SK海力士和美光在满足英伟达标准方面存在一定问题。因此,此次官方认证对美光而言本应是重大利好。然而,美光股价当日仍收跌13%,报864.01美元,为2025年4月以来最大单日跌幅。叠加周四7.7%的跌幅,美光两日累计跌幅已超过20%。据道琼斯市场数据,此前美光股价在过去12个月内累计涨幅超过735%,高估值令其对任何获利回吐行为都极为敏感。SemiAnalysis报告的核心争议:模块化内存还是HBM?本次引发市场波动的SemiAnalysis报告,核心内容是英伟达削减了Vera Rubin服务器机架的模块化内存(SOCAMM DRAM)容量。需要指出的是,模块化内存与驱动AI服务器内存芯片需求的高带宽内存(HBM)是两个不同的产品类别。SemiAnalysis创始人Dylan Patel随后发文澄清,称该机构的分析\"并无任何看空之处\"。据巴伦周刊报道,英伟达削减模块化内存容量,实际上可能反映的是HBM挤出效应正在发生——由于HBM生产极为耗费晶圆产能(每单位HBM所需晶圆产能约为标准内存的三倍),HBM供应扩张必然压缩其他内存类型的产能,并推高整个内存行业的价格。研究机构Trendforce的分析师写道:\"随着HBM技术代际在2027年持续演进,芯片尺寸扩大与需求同步上升,对传统DRAM产能的挤出效应预计将进一步加剧。这将为供应商提供充分理由上调HBM价格,并强化其在明年HBM谈判中的定价权。\"屡次\"看空\"屡次被打脸,SemiAnalysis成争议焦点此次事件并非SemiAnalysis第一次因涉及美光的报告引发市场波动,也并非第一次事后被证明方向有误。社交平台X用户@Klaytonlolus整理了SemiAnalysis过去数月内多次发布看空美光相关报告的时间线:1月初,SemiAnalysis称美光HBM4样品引脚速度偏弱,落后于SK海力士和三星。彼时美光股价约430美元,此后涨至920美元以上,涨幅逾114%。1月28日,SemiAnalysis称英伟达Rubin首年HBM4订单\"看不到美光的身影\"。彼时美光股价435.28美元,此后同样涨至920美元以上,涨幅逾111%。2月6日,SemiAnalysis发布最具影响力的一篇报告,称美光在Rubin首个12个月内的HBM4份额\"基本归零\"。彼时美光股价394.69美元,此后涨至920美元以上,涨幅逾133%;若从3月低点321美元算起,涨幅更超186%。6月4日至5日,SemiAnalysis再度发布报告,称英伟达削减Vera Rubin CPU侧SOCAMM DRAM容量,暗示内存需求降温。美光6月4日收于996美元,次日跌至920美元附近,单日跌幅约7.5%。Klaytonlolus在帖子中写道:\"这已经不只是'一次判断失误'的问题。这是反复以极度自信的语气,将供应链故事包装成深度行业研究,然后被股价、基本面和AI内存超级周期狠狠打脸。\"SemiAnalysis回应:信息不对称之争面对外界批评,SemiAnalysis回应称,其报告的真实结论是\"美光HBM延迟对美光而言是利好,因为普通DDR的利润率高于HBM\",并表示批评者根本没有读过完整报告,\"那些这么说的人甚至没有订阅权限\"。然而,这一回应本身也引发了新的争议。用户Vinit Baliyan质问道:\"为什么你们不能向更广泛的订阅用户分享这类信息?你们是否在向机构客户提供准确信息,同时让普通订阅者和散户陷入困惑?这实际上是在给你们的富有客户提供不对称优势,代价是散户投资者的利益。\"另一位用户Klaytonlolus则指出,SemiAnalysis的报告被多家媒体广泛引用,核心信息被解读为\"英伟达未向美光下达HBM4订单\",这是明确的看空框架。美光CFO随后公开反驳\"不准确的报道\",称HBM4已进入大规模量产阶段,客户出货已经开始,且量产节奏比此前预期提前了一个季度。美光随后正式宣布HBM4 36GB 12H进入大规模量产,专为英伟达Vera Rubin设计,带宽超过2.8 TB/s,能效提升逾20%。Klaytonlolus写道,\"问题不在于读者是否读了完整报告,问题在于你们的标题、摘要和框架制造了明确的看空美光叙事,而这一叙事后来被美光管理层和官方产品公告所推翻。这不是'深度研究',这是不负责任的框架,加上事后的危机公关。\"尽管批评声浪不小,SemiAnalysis在业内仍有一定支持者。付费订阅用户\"Macho Man Randy Newman\"表示,SemiAnalysis的深度报告帮助他在内存股已大幅上涨后仍坚定持仓,目前其美光持仓已实现22倍回报。他认为,SemiAnalysis提供的是详细的事实性报道,但其编辑性结论则需要读者自行判断。用户Dave则持中立立场:\"无论这些博客和Substack写得多么详尽,它们终究只是它们本身。做好自己的研究,如果你有信念,就必须过滤掉噪音。我个人认为SemiAnalysis提供的信号多于噪音,但没有人是没有偏见的。\"也有用户将矛头指向更深层的市场结构问题。用户IVCrushLeague评论道:\"如果一位分析师对SK海力士或三星的判断出错到这种程度,他们早就要躲起来了。这也是为什么这类恐慌性信息主要针对美光。\"","news_type":1,"symbols_score_info":{"MU":2.1,"MUU":0.6,"MUD":0.6,"MULL":0.6}},"isVote":1,"tweetType":1,"viewCount":665,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":571977189257512,"gmtCreate":1780665187301,"gmtModify":1780665727874,"author":{"id":"4228385961123602","authorId":"4228385961123602","name":"HAKUBUN","avatar":"https://static.tigerbbs.com/97e39f638d455bd5828c866ff7fee9d7","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4228385961123602","idStr":"4228385961123602"},"themes":[],"title":"","htmlText":"伊朗海军用什么神器能够驱离美国驱逐舰?","listText":"伊朗海军用什么神器能够驱离美国驱逐舰?","text":"伊朗海军用什么神器能够驱离美国驱逐舰?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/571977189257512","repostId":"1189454592","repostType":4,"repost":{"id":"1189454592","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据,旨在帮助投资者理解世界,做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1780660528,"share":"https://www.laohunote.com/m/news/1189454592?lang=zh_CN&edition=full","pubTime":"2026-06-05 19:55","market":"fut","language":"zh","title":"伊朗海军称对美国驱逐舰开火,将其驱离阿曼湾","url":"https://stock-news.laohu8.com/highlight/detail?id=1189454592","media":"老虎资讯综合","summary":"向两艘美军驱逐舰警告射击。","content":"<html><head></head><body><p style=\"text-align: left;\"><span>据伊朗媒体5日报道,伊朗海军向两艘美军驱逐舰警告射击,将其驱离阿曼湾。</span>(新华社)</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>伊朗海军称对美国驱逐舰开火,将其驱离阿曼湾</title>\n<style 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margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n伊朗海军称对美国驱逐舰开火,将其驱离阿曼湾\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time\">2026-06-05 19:55</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p style=\"text-align: left;\"><span>据伊朗媒体5日报道,伊朗海军向两艘美军驱逐舰警告射击,将其驱离阿曼湾。</span>(新华社)</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://community-static.tradeup.com/news/b7094c93784724bf0b95c86f2d6ff95a","relate_stocks":{},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1189454592","content_text":"据伊朗媒体5日报道,伊朗海军向两艘美军驱逐舰警告射击,将其驱离阿曼湾。(新华社)","news_type":1,"symbols_score_info":{"CLmain":2,"BZmain":2}},"isVote":1,"tweetType":1,"viewCount":614,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"hots":[{"id":588654870897768,"gmtCreate":1784746007559,"gmtModify":1784746009658,"author":{"id":"4228385961123602","authorId":"4228385961123602","name":"HAKUBUN","avatar":"https://static.tigerbbs.com/97e39f638d455bd5828c866ff7fee9d7","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4228385961123602","authorIdStr":"4228385961123602"},"themes":[],"title":"","htmlText":"再好的股票,只要被她一买。。。。。。。。。","listText":"再好的股票,只要被她一买。。。。。。。。。","text":"再好的股票,只要被她一买。。。。。。。。。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/588654870897768","repostId":"1109659125","repostType":2,"repost":{"id":"1109659125","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据,旨在帮助投资者理解世界,做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1784733768,"share":"https://www.laohunote.com/m/news/1109659125?lang=zh_CN&edition=full","pubTime":"2026-07-22 23:22","market":"us","language":"zh","title":"Cathie Wood称遭遇重挫的SpaceX有望成为“全球历史上最重要的公司”","url":"https://stock-news.laohu8.com/highlight/detail?id=1109659125","media":"老虎资讯综合","summary":"ARK Invest首席执行官凯茜·伍德为其基金持有的SpaceX股份进行辩护,并表示,尽管该股近期大幅下跌,且即将迎来价值1160亿美元的限售股解禁,但这家航空航天与卫星网络领域的先锋企业,仍有望成为“全球历史上最重要的公司”。周三SpaceX股价报约124美元。目前,SpaceX的市值已降至全球第八位,自上市以来首次落后于Meta。","content":"<html><head></head><body><p style=\"text-align: left;\">ARK Invest首席执行官凯茜·伍德(Cathie Wood)为其基金持有的SpaceX股份进行辩护,并表示,尽管该股近期大幅下跌,且即将迎来价值1160亿美元的限售股解禁,但这家航空航天与卫星网络领域的先锋企业,仍有望成为“全球历史上最重要的公司”。</p><p style=\"text-align: left;\">伍德周三在接受《Mornings with Maria》节目采访时解释了为何她依然看好SpaceX。此前,ARK Invest管理的基金在SpaceX上市后向该公司投资了8000万美元。</p><p style=\"text-align: left;\">伍德表示:“如果与历史高点相比,它(股价)确实下跌了,但当然,它仍高于IPO发行价。我们认为,这家公司有可能成为历史上最重要的公司,而且我指的是全球历史。”</p><p style=\"text-align: left;\">她说道:“我们谈论的不仅仅是探索一个全新的世界——宇宙——以及它强大的发射能力,并帮助其他机构实现太空探索;我们谈论的还有一个覆盖全球的通信网络。仔细想想,电信行业一直以来都是一个高度本地化的业务。事实上,过去想进入一个国家市场,通常需要收购当地的电信公司,而如今已经不再如此了。”</p><p style=\"text-align: left;\">周三SpaceX股价报约124美元。根据《巴伦周刊》(Barron's)的数据,该股较约225美元的历史高点已下跌约47%,市值蒸发接近1.4万亿美元。目前,SpaceX的市值已降至全球第八位,自上市以来首次落后于Meta。</p><p style=\"text-align: left;\"></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/952bdddaac5e96e7957a2ab44fc36fb1\" data-align=\"center\" tg-width=\"730\" tg-height=\"644\"/><span></span></p><p style=\"text-align: left;\">伍德此前在今年5月接受彭博社采访时曾表示,她预计SpaceX股价将会“波动剧烈”,但她同时称赞公司创始人埃隆·马斯克(Elon Musk)拥有“令人难以置信”的垂直整合能力,能够将包括特斯拉(Tesla)、xAI和Neuralink在内的各家公司形成协同效应。</p><p style=\"text-align: left;\">马斯克上周在社交平台X上发文警告投资者,不要试图做空SpaceX股票。他表示:“长期维持SpaceX大规模空头仓位的公司,最终能够存活下来的概率非常低。”</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Cathie Wood称遭遇重挫的SpaceX有望成为“全球历史上最重要的公司”</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCathie Wood称遭遇重挫的SpaceX有望成为“全球历史上最重要的公司”\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time\">2026-07-22 23:22</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p style=\"text-align: left;\">ARK Invest首席执行官凯茜·伍德(Cathie Wood)为其基金持有的SpaceX股份进行辩护,并表示,尽管该股近期大幅下跌,且即将迎来价值1160亿美元的限售股解禁,但这家航空航天与卫星网络领域的先锋企业,仍有望成为“全球历史上最重要的公司”。</p><p style=\"text-align: left;\">伍德周三在接受《Mornings with Maria》节目采访时解释了为何她依然看好SpaceX。此前,ARK Invest管理的基金在SpaceX上市后向该公司投资了8000万美元。</p><p style=\"text-align: left;\">伍德表示:“如果与历史高点相比,它(股价)确实下跌了,但当然,它仍高于IPO发行价。我们认为,这家公司有可能成为历史上最重要的公司,而且我指的是全球历史。”</p><p style=\"text-align: left;\">她说道:“我们谈论的不仅仅是探索一个全新的世界——宇宙——以及它强大的发射能力,并帮助其他机构实现太空探索;我们谈论的还有一个覆盖全球的通信网络。仔细想想,电信行业一直以来都是一个高度本地化的业务。事实上,过去想进入一个国家市场,通常需要收购当地的电信公司,而如今已经不再如此了。”</p><p style=\"text-align: left;\">周三SpaceX股价报约124美元。根据《巴伦周刊》(Barron's)的数据,该股较约225美元的历史高点已下跌约47%,市值蒸发接近1.4万亿美元。目前,SpaceX的市值已降至全球第八位,自上市以来首次落后于Meta。</p><p style=\"text-align: left;\"></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/952bdddaac5e96e7957a2ab44fc36fb1\" data-align=\"center\" tg-width=\"730\" tg-height=\"644\"/><span></span></p><p style=\"text-align: left;\">伍德此前在今年5月接受彭博社采访时曾表示,她预计SpaceX股价将会“波动剧烈”,但她同时称赞公司创始人埃隆·马斯克(Elon Musk)拥有“令人难以置信”的垂直整合能力,能够将包括特斯拉(Tesla)、xAI和Neuralink在内的各家公司形成协同效应。</p><p style=\"text-align: left;\">马斯克上周在社交平台X上发文警告投资者,不要试图做空SpaceX股票。他表示:“长期维持SpaceX大规模空头仓位的公司,最终能够存活下来的概率非常低。”</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/0fb0479ff67cd3a760cdce353bcb60ed","relate_stocks":{"SPAL":"2倍做多Space X ETF-GraniteShares","SPCM":"2倍做多SpaceX ETF-Tradr","SPCX":"SPAC and New Issue ETF","SNK":"2倍做空SpaceX ETF-GraniteShares","SPCG":"2倍做空SpaceX ETF-Tradr","SPCU":"2倍做多SpaceX ETF-Defiance","SPAX":"2倍做多SPACEX ETF-T-REX","SPCF":"2倍做多SpaceX ETF-ProShares","SPCQ":"2倍做空SpaceX ETF-Defiance","SSPC":"2倍做空SpaceX ETF-Leverage Shares","SPCH":"2倍做多SpaceX ETF-Leverage Shares","LOFF":"2倍做多SpaceX ETF-Direxion"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1109659125","content_text":"ARK Invest首席执行官凯茜·伍德(Cathie Wood)为其基金持有的SpaceX股份进行辩护,并表示,尽管该股近期大幅下跌,且即将迎来价值1160亿美元的限售股解禁,但这家航空航天与卫星网络领域的先锋企业,仍有望成为“全球历史上最重要的公司”。伍德周三在接受《Mornings with Maria》节目采访时解释了为何她依然看好SpaceX。此前,ARK Invest管理的基金在SpaceX上市后向该公司投资了8000万美元。伍德表示:“如果与历史高点相比,它(股价)确实下跌了,但当然,它仍高于IPO发行价。我们认为,这家公司有可能成为历史上最重要的公司,而且我指的是全球历史。”她说道:“我们谈论的不仅仅是探索一个全新的世界——宇宙——以及它强大的发射能力,并帮助其他机构实现太空探索;我们谈论的还有一个覆盖全球的通信网络。仔细想想,电信行业一直以来都是一个高度本地化的业务。事实上,过去想进入一个国家市场,通常需要收购当地的电信公司,而如今已经不再如此了。”周三SpaceX股价报约124美元。根据《巴伦周刊》(Barron's)的数据,该股较约225美元的历史高点已下跌约47%,市值蒸发接近1.4万亿美元。目前,SpaceX的市值已降至全球第八位,自上市以来首次落后于Meta。伍德此前在今年5月接受彭博社采访时曾表示,她预计SpaceX股价将会“波动剧烈”,但她同时称赞公司创始人埃隆·马斯克(Elon Musk)拥有“令人难以置信”的垂直整合能力,能够将包括特斯拉(Tesla)、xAI和Neuralink在内的各家公司形成协同效应。马斯克上周在社交平台X上发文警告投资者,不要试图做空SpaceX股票。他表示:“长期维持SpaceX大规模空头仓位的公司,最终能够存活下来的概率非常低。”","news_type":1,"symbols_score_info":{"SNK":0.6,"SPCH":0.6,"SPCF":0.6,"SPAL":0.6,"LOFF":0.6,"SPCM":0.6,"SPCG":0.6,"SPCQ":0.6,"SPCU":0.6,"SPCX":2,"SPAX":0.6,"SSPC":0.6}},"isVote":1,"tweetType":1,"viewCount":609,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":596840083960816,"gmtCreate":1786731074418,"gmtModify":1786731076157,"author":{"id":"4228385961123602","authorId":"4228385961123602","name":"HAKUBUN","avatar":"https://static.tigerbbs.com/97e39f638d455bd5828c866ff7fee9d7","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4228385961123602","authorIdStr":"4228385961123602"},"themes":[],"title":"","htmlText":"不信,你们为什么不做空呢?","listText":"不信,你们为什么不做空呢?","text":"不信,你们为什么不做空呢?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/596840083960816","repostId":"1118936442","repostType":2,"repost":{"id":"1118936442","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据,旨在帮助投资者理解世界,做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1786719260,"share":"https://www.laohunote.com/m/news/1118936442?lang=zh_CN&edition=full","pubTime":"2026-08-14 22:54","market":"us","language":"zh","title":"SK集团会长崔泰源:明年将是内存短缺现象最为严重的一年,将引发“芯片通胀”","url":"https://stock-news.laohu8.com/highlight/detail?id=1118936442","media":"老虎资讯综合","summary":"崔泰源将美国当地客户的需求视为关键变量,正在多方面评估以扩大公司的全球生产基地。崔泰源将当前市场形势定义为一场争夺内存芯片的“战争”。崔会长判断,明年将是内存短缺现象最为严重的一年,将引发“芯片通胀”,即半导体价格飙升的局面。为解决供应瓶颈问题,SK集团已决定进行大规模扩张,在未来5年内将内存产能提高2倍。SK海力士计划密切审视未来市场需求以及与客户公司的合作关系,以最终确定追加投资地区。","content":"<html><head></head><body><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/c87ca7fe6218ff77fa9c6650d1a1622a\" data-align=\"center\" tg-width=\"600\" tg-height=\"338\"/><span></span></p><p style=\"text-align: left;\">在人工智能(AI)半导体需求爆发导致内存供应短缺加剧的背景下,SK集团会长崔泰源对在美国建设前端半导体工厂(fab)的可能性持开放态度。崔泰源将美国当地客户的需求视为关键变量,正在多方面评估以扩大公司的全球生产基地。</p><p style=\"text-align: left;\">在当地时间8月13日接受美国CNBC采访时,崔泰源表示,公司一个多月来一直在包括美国在内的多个地区考察内存工厂选址。他特别提到,美国客户希望在本国建设晶圆厂,并表示如果客户有此意愿,愿意共同推进相关机会。目前,SK海力士正在美国印第安纳州建设后端封装厂,但处理晶圆的前端晶圆厂的具体计划尚未正式确定。</p><p style=\"text-align: left;\">崔泰源将当前市场形势定义为一场争夺内存芯片的“战争”。他分析称,所有客户都要求明年的供应量比此前水平增加近两倍,但供应未能跟上。崔会长判断,明年将是内存短缺现象最为严重的一年,将引发“芯片通胀”(Chiplation),即半导体价格飙升的局面。</p><p style=\"text-align: left;\">为解决供应瓶颈问题,SK集团已决定进行大规模扩张,在未来5年内将内存产能提高2倍。这也是在最近宣布在湖南地区建设2座新前端晶圆厂之后,集团着手确保更多选址的原因。不过,崔泰源强调,确保水、电、土地以及打造半导体生态系统是晶圆厂建设的核心前提,显示出在寻找合适地点方面的谨慎态度。</p><p style=\"text-align: left;\">对于大规模设施投资可能引发供应过剩的担忧,他提出了一套彻底基于需求的策略。其解释是,只有在存在确定需求的条件下才会推进扩产,并通过与客户签订长期供应合同(LTA)来消除不确定性。此外,他还补充说,正在引入各种能够分担风险的项目,例如成立合资企业,或以“内存即服务”(Memory as a Service)的形式提供内存。</p><p style=\"text-align: left;\">崔泰源预测,AI时代的内存周期将呈现出与过去不同的模式。这是因为过去依赖硬件设备的出货数量,而如今市场可扩展性增强,单个用户会使用多个AI代理。崔泰源强调,由于这些变化,比过去长得多的繁荣周期将持续下去,需求强劲上升的趋势短期内仍将延续。</p><p style=\"text-align: left;\">尽管目前尚未与美国政府进行直接对话,但美国商务部长等主要人物正向韩国企业施压,要求其在美国建设新的前端晶圆厂。SK海力士计划密切审视未来市场需求以及与客户公司的合作关系,以最终确定追加投资地区。</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SK集团会长崔泰源:明年将是内存短缺现象最为严重的一年,将引发“芯片通胀”</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; 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width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSK集团会长崔泰源:明年将是内存短缺现象最为严重的一年,将引发“芯片通胀”\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time\">2026-08-14 22:54</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/c87ca7fe6218ff77fa9c6650d1a1622a\" data-align=\"center\" tg-width=\"600\" tg-height=\"338\"/><span></span></p><p style=\"text-align: left;\">在人工智能(AI)半导体需求爆发导致内存供应短缺加剧的背景下,SK集团会长崔泰源对在美国建设前端半导体工厂(fab)的可能性持开放态度。崔泰源将美国当地客户的需求视为关键变量,正在多方面评估以扩大公司的全球生产基地。</p><p style=\"text-align: left;\">在当地时间8月13日接受美国CNBC采访时,崔泰源表示,公司一个多月来一直在包括美国在内的多个地区考察内存工厂选址。他特别提到,美国客户希望在本国建设晶圆厂,并表示如果客户有此意愿,愿意共同推进相关机会。目前,SK海力士正在美国印第安纳州建设后端封装厂,但处理晶圆的前端晶圆厂的具体计划尚未正式确定。</p><p style=\"text-align: left;\">崔泰源将当前市场形势定义为一场争夺内存芯片的“战争”。他分析称,所有客户都要求明年的供应量比此前水平增加近两倍,但供应未能跟上。崔会长判断,明年将是内存短缺现象最为严重的一年,将引发“芯片通胀”(Chiplation),即半导体价格飙升的局面。</p><p style=\"text-align: left;\">为解决供应瓶颈问题,SK集团已决定进行大规模扩张,在未来5年内将内存产能提高2倍。这也是在最近宣布在湖南地区建设2座新前端晶圆厂之后,集团着手确保更多选址的原因。不过,崔泰源强调,确保水、电、土地以及打造半导体生态系统是晶圆厂建设的核心前提,显示出在寻找合适地点方面的谨慎态度。</p><p style=\"text-align: left;\">对于大规模设施投资可能引发供应过剩的担忧,他提出了一套彻底基于需求的策略。其解释是,只有在存在确定需求的条件下才会推进扩产,并通过与客户签订长期供应合同(LTA)来消除不确定性。此外,他还补充说,正在引入各种能够分担风险的项目,例如成立合资企业,或以“内存即服务”(Memory as a Service)的形式提供内存。</p><p style=\"text-align: left;\">崔泰源预测,AI时代的内存周期将呈现出与过去不同的模式。这是因为过去依赖硬件设备的出货数量,而如今市场可扩展性增强,单个用户会使用多个AI代理。崔泰源强调,由于这些变化,比过去长得多的繁荣周期将持续下去,需求强劲上升的趋势短期内仍将延续。</p><p style=\"text-align: left;\">尽管目前尚未与美国政府进行直接对话,但美国商务部长等主要人物正向韩国企业施压,要求其在美国建设新的前端晶圆厂。SK海力士计划密切审视未来市场需求以及与客户公司的合作关系,以最终确定追加投资地区。</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://community-static.tradeup.com/news/c87ca7fe6218ff77fa9c6650d1a1622a","relate_stocks":{"SKUU":"2倍做多海力士ETF-GraniteShares","SKHA":"Tradr 2X Long SK hynix Daily ETF","SKHU":"2倍做多海力士-ProShares","SKHX":"2倍做多海力士ETF-Leverage Shares","SKDD":"2倍做空海力士ETF-GraniteShares","07709":"南方两倍做多海力士","SK":"2倍做多海力士ETF-Corgi","SKHY":"SK海力士","HYNX":"2倍做多海力士ETF-T-REX","SKHZ":"1倍做空海力士ETF-Leverage Shares"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1118936442","content_text":"在人工智能(AI)半导体需求爆发导致内存供应短缺加剧的背景下,SK集团会长崔泰源对在美国建设前端半导体工厂(fab)的可能性持开放态度。崔泰源将美国当地客户的需求视为关键变量,正在多方面评估以扩大公司的全球生产基地。在当地时间8月13日接受美国CNBC采访时,崔泰源表示,公司一个多月来一直在包括美国在内的多个地区考察内存工厂选址。他特别提到,美国客户希望在本国建设晶圆厂,并表示如果客户有此意愿,愿意共同推进相关机会。目前,SK海力士正在美国印第安纳州建设后端封装厂,但处理晶圆的前端晶圆厂的具体计划尚未正式确定。崔泰源将当前市场形势定义为一场争夺内存芯片的“战争”。他分析称,所有客户都要求明年的供应量比此前水平增加近两倍,但供应未能跟上。崔会长判断,明年将是内存短缺现象最为严重的一年,将引发“芯片通胀”(Chiplation),即半导体价格飙升的局面。为解决供应瓶颈问题,SK集团已决定进行大规模扩张,在未来5年内将内存产能提高2倍。这也是在最近宣布在湖南地区建设2座新前端晶圆厂之后,集团着手确保更多选址的原因。不过,崔泰源强调,确保水、电、土地以及打造半导体生态系统是晶圆厂建设的核心前提,显示出在寻找合适地点方面的谨慎态度。对于大规模设施投资可能引发供应过剩的担忧,他提出了一套彻底基于需求的策略。其解释是,只有在存在确定需求的条件下才会推进扩产,并通过与客户签订长期供应合同(LTA)来消除不确定性。此外,他还补充说,正在引入各种能够分担风险的项目,例如成立合资企业,或以“内存即服务”(Memory as a Service)的形式提供内存。崔泰源预测,AI时代的内存周期将呈现出与过去不同的模式。这是因为过去依赖硬件设备的出货数量,而如今市场可扩展性增强,单个用户会使用多个AI代理。崔泰源强调,由于这些变化,比过去长得多的繁荣周期将持续下去,需求强劲上升的趋势短期内仍将延续。尽管目前尚未与美国政府进行直接对话,但美国商务部长等主要人物正向韩国企业施压,要求其在美国建设新的前端晶圆厂。SK海力士计划密切审视未来市场需求以及与客户公司的合作关系,以最终确定追加投资地区。","news_type":1,"symbols_score_info":{"SKHU":0.6,"SKHY":2,"HYNX":0.6,"SKHZ":0.6,"SK":0.6,"SKHA":0.6,"SKDD":0.6,"SKUU":0.6,"07709":0.6,"SKHX":0.6}},"isVote":1,"tweetType":1,"viewCount":171,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":583427852271656,"gmtCreate":1783469859032,"gmtModify":1783469861332,"author":{"id":"4228385961123602","authorId":"4228385961123602","name":"HAKUBUN","avatar":"https://static.tigerbbs.com/97e39f638d455bd5828c866ff7fee9d7","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4228385961123602","authorIdStr":"4228385961123602"},"themes":[],"title":"","htmlText":"是伊朗这帮军头在乱搞。","listText":"是伊朗这帮军头在乱搞。","text":"是伊朗这帮军头在乱搞。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/583427852271656","repostId":"1176709226","repostType":2,"repost":{"id":"1176709226","kind":"news","weMediaInfo":{"introduction":"追踪全球财经热点,精选影响您财富的资讯,投资理财必备神器!","home_visible":1,"media_name":"华尔街见闻","id":"1084101182","head_image":"https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e"},"pubTimestamp":1783462269,"share":"https://www.laohunote.com/m/news/1176709226?lang=zh_CN&edition=full","pubTime":"2026-07-08 06:11","market":"fut","language":"zh","title":"霍尔木兹冲击波!美国撤销伊朗石油销售豁免,美军称开始对伊发动强力打击","url":"https://stock-news.laohu8.com/highlight/detail?id=1176709226","media":"华尔街见闻","summary":"霍尔木兹海峡接连发生船只遇袭后,美国撤销了临时允许伊朗恢复石油销售的制裁豁免,令市场对中东原油供应风险的担忧迅速升温。央视称,伊朗方面暂未对美国终止对伊石油制裁豁免作出回应。美国官员指伊朗近日在霍尔木兹海峡向三艘商船开火据多家媒体报道,美国政府周二决定撤销此前允许伊朗继续进行石油销售的制裁豁免。","content":"<html><head></head><body><blockquote><p>美国财政部宣布撤销截至8月下旬的为期60天伊朗能源限制豁免后,原油一度涨6%。美官员称,伊朗近日在霍尔木兹海峡向三艘商船开火,这一行为“完全不可接受”,将招致相应后果;美方仍在诚意推进达成美伊最终协议;美军称,一系列强力打击是对伊袭商船的回应,伊方明显违反停火协议。伊朗最高领袖顾问称,美国将把谈判引向失败、正试图在海峡开辟替代航道。</p></blockquote><p style=\"text-align: justify;\">霍尔木兹海峡接连发生船只遇袭后,美国撤销了临时允许伊朗恢复石油销售的制裁豁免,令市场对中东原油供应风险的担忧迅速升温。</p><p style=\"text-align: justify;\">美东时间7日周二美股尾盘时段,据央视新闻,美国财政部外国资产控制办公室(OFAC)公布,美国撤销一项授权允许伊朗石油销售的通用许可,相关收尾交易将被允许持续至美国东部时间7月17日零点。央视援引美国官员的消息暗示,美方认为,此举是伊朗近期袭击霍尔木兹海峡通行商船招致的后果。</p><p style=\"text-align: justify;\">在伊朗媒体称伊朗多地发生爆炸后,据央视,美国中央司令部表示,美军已开始对伊朗发动一系列强力打击,作为对伊朗袭击海峡商船的回应,指责伊方明显违反停火协议。</p><p style=\"text-align: justify;\">OFAC称,自7月7日起,不得开展新的相关交易。此前美国财政部遵循美伊临时和平协议发布的豁免允许相关交易持续60天,原定有效期至8月21日,为伊朗原油出口恢复提供窗口。此次政策逆转意味着特朗普政府再次收紧对伊朗能源出口的限制。</p><p style=\"text-align: justify;\">央视称,伊朗方面暂未对美国终止对伊石油制裁豁免作出回应。此后传出的报道显示,伊朗最高领袖顾问Mohsen Rezaei周二在接受伊媒采访时表示,很明显,美国将把与伊朗的谈判引向失败,并补充说,美国正试图在霍尔木兹海峡为其船只开辟一条替代航道。</p><p style=\"text-align: justify;\">美国突然撤销豁免,推翻了上月与伊朗所达成临时和平协议、即谅解备忘录中的一项关键内容。市场认为,美国重新打击伊朗石油出口,加之此前霍尔木兹海峡附近多艘能源运输船遭袭事件,使全球原油供应中断风险重新成为交易核心。</p><p style=\"text-align: justify;\">美国撤销豁免的消息传出后,美股周二尾盘交易中,国际油价涨幅快速扩大,美国WTI原油一度升至72.51美元/桶,较周一收盘上涨近5.8%;布伦特原油最高触及76.36美元/桶,较周一收盘上涨近6.1%。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a69dc0559e762c28996bafca2d0c11a9\" tg-width=\"1059\" tg-height=\"694\"/></p><p style=\"text-align: justify;\">同时,美元走强,ICE美元指数(DXY)涨幅扩大,一度涨破101.10刷新日高,日内上涨约0.3%。贵金属随之加速下跌。现货黄金一度跌破4100美元/盎司,刷新日低,日内跌幅超过1.7%;现货白银刷新日低至59.42美元/盎司,日内跌幅扩大至接近4.2%。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4e306b37d2294adb0bc0282b889cc4ce\" tg-width=\"1071\" tg-height=\"695\"/></p><h2 id=\"id_1010070814\">美国官员指伊朗近日在霍尔木兹海峡向三艘商船开火</h2><p style=\"text-align: justify;\">据多家媒体报道,美国政府周二决定撤销此前允许伊朗继续进行石油销售的制裁豁免。据报道,一名美国官员表示,此次行动与近期霍尔木兹海峡附近发生的油轮袭击事件有关。美国认为,在伊朗相关力量涉嫌威胁商业航运安全后,有必要重新限制伊朗通过石油出口获得收入的能力。</p><p style=\"text-align: justify;\">央视援引匿名美国官员称,初步迹象显示“伊朗近日在霍尔木兹海峡向三艘商船开火”,这一行为“完全不可接受”,将招致相应后果。美方官员还称,尽管局势升级,但美方谈判代表“仍在诚意推进与伊朗达成最终协议”。</p><p style=\"text-align: justify;\">此前,美国政府曾在美伊关系出现阶段性缓和后,给予伊朗相关石油交易临时豁免,允许部分石油出口和相关交易继续进行。该措施一度被市场视为美国释放外交缓和信号的重要举措,也推动市场预期伊朗原油可能逐步回归国际市场。</p><p style=\"text-align: justify;\">央视提到,美国财长贝森特于6月22日宣布,作为美国与伊朗谈判框架的一部分,美国财政部发布一份为期60天的通用许可,授权允许伊朗石油的生产、交付和销售。据美国财政部OFAC当天发布的公告,此前被美国多个行政令和规定禁止的伊朗原油、石化和石油产品的生产、交付及销售交易均得到豁免,期限至2026年8月21日。</p><p style=\"text-align: justify;\">但随着霍尔木兹海峡航运安全形势恶化,美国政策出现转向。</p><p style=\"text-align: justify;\">市场人士认为,此次撤销豁免意味着伊朗石油供应回归预期被明显削弱,全球原油市场重新开始交易“供应风险”。</p><h2 id=\"id_1313688342\">美军称系列打击是对伊朗袭击商船的回应</h2><p style=\"text-align: justify;\">据伊朗媒体Press TV报道,伊朗南部港口城市锡里克(Sirik)发生多起爆炸事件。伊朗媒体报道称,伊朗南部Qeshm Island和Bandar地区也传来爆炸声。 </p><p style=\"text-align: justify;\">此后,据央视新闻,当地时间7月7日,美国中央司令部表示,美军中央司令部部队已开始对伊朗发动一系列强力打击,以回应伊朗针对国际水道中由平民船员操作的商业航运实施瞄准和袭击。</p><p style=\"text-align: justify;\">美国中央司令部称,美方打击是对伊朗袭击三艘正在通过霍尔木兹海峡的商船作出的回应,并表示伊朗的侵略行为“没有正当理由、危险”,且“明显违反停火协议”。</p><h2 id=\"id_2941968185\">霍尔木兹海峡风险升温,油市重新计入供应中断溢价</h2><p style=\"text-align: justify;\">近期霍尔木兹海峡附近发生新的油轮遇袭事件,使全球能源市场重新聚焦这一关键运输通道。</p><p style=\"text-align: justify;\">霍尔木兹海峡连接波斯湾与阿曼湾,是全球最重要的能源运输节点之一,大量中东原油和液化天然气运输需要经过该区域。任何军事冲突升级或航运受阻,都可能迅速影响全球能源供应预期。</p><p style=\"text-align: justify;\">此前,随着美伊谈判推进,以及美国允许伊朗石油交易在有限范围内恢复,市场一度认为中东供应风险正在下降,油价风险溢价逐步消退。</p><p style=\"text-align: justify;\">然而,油轮遇袭事件改变了市场情绪。</p><p style=\"text-align: justify;\">在美国宣布撤销伊朗石油豁免后,交易员迅速重新调整仓位,押注伊朗出口减少以及霍尔木兹航运风险可能进一步推高供应紧张程度。</p><h2 id=\"id_4050991004\">伊朗石油供应前景添变数,油价后续取决于霍尔木兹局势</h2><p style=\"text-align: justify;\">分析人士认为,短期来看,美国撤销伊朗石油销售豁免将继续支撑原油价格,但油价能否持续上涨,关键仍取决于霍尔木兹海峡局势是否进一步恶化。</p><p style=\"text-align: justify;\">如果伊朗出口受到实质性限制,同时更多油轮因安全风险暂停经过霍尔木兹海峡,全球原油供应风险溢价可能继续扩大。</p><p style=\"text-align: justify;\">但如果地区紧张局势得到控制,航运逐步恢复,油价涨幅可能受到限制。</p><p style=\"text-align: justify;\">对于市场而言,此次事件的重要变化在于,交易逻辑已经从此前的“伊朗供应回归”重新转向“中东供应是否再次受到威胁”。</p><p style=\"text-align: justify;\">霍尔木兹海峡的新一轮安全风险,叠加美国重新收紧伊朗石油制裁,使全球能源市场再次进入地缘政治主导的交易阶段。</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>霍尔木兹冲击波!美国撤销伊朗石油销售豁免,美军称开始对伊发动强力打击</title>\n<style 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margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n霍尔木兹冲击波!美国撤销伊朗石油销售豁免,美军称开始对伊发动强力打击\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1084101182\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">华尔街见闻 </p>\n<p class=\"h-time\">2026-07-08 06:11</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><blockquote><p>美国财政部宣布撤销截至8月下旬的为期60天伊朗能源限制豁免后,原油一度涨6%。美官员称,伊朗近日在霍尔木兹海峡向三艘商船开火,这一行为“完全不可接受”,将招致相应后果;美方仍在诚意推进达成美伊最终协议;美军称,一系列强力打击是对伊袭商船的回应,伊方明显违反停火协议。伊朗最高领袖顾问称,美国将把谈判引向失败、正试图在海峡开辟替代航道。</p></blockquote><p style=\"text-align: justify;\">霍尔木兹海峡接连发生船只遇袭后,美国撤销了临时允许伊朗恢复石油销售的制裁豁免,令市场对中东原油供应风险的担忧迅速升温。</p><p style=\"text-align: justify;\">美东时间7日周二美股尾盘时段,据央视新闻,美国财政部外国资产控制办公室(OFAC)公布,美国撤销一项授权允许伊朗石油销售的通用许可,相关收尾交易将被允许持续至美国东部时间7月17日零点。央视援引美国官员的消息暗示,美方认为,此举是伊朗近期袭击霍尔木兹海峡通行商船招致的后果。</p><p style=\"text-align: justify;\">在伊朗媒体称伊朗多地发生爆炸后,据央视,美国中央司令部表示,美军已开始对伊朗发动一系列强力打击,作为对伊朗袭击海峡商船的回应,指责伊方明显违反停火协议。</p><p style=\"text-align: justify;\">OFAC称,自7月7日起,不得开展新的相关交易。此前美国财政部遵循美伊临时和平协议发布的豁免允许相关交易持续60天,原定有效期至8月21日,为伊朗原油出口恢复提供窗口。此次政策逆转意味着特朗普政府再次收紧对伊朗能源出口的限制。</p><p style=\"text-align: justify;\">央视称,伊朗方面暂未对美国终止对伊石油制裁豁免作出回应。此后传出的报道显示,伊朗最高领袖顾问Mohsen Rezaei周二在接受伊媒采访时表示,很明显,美国将把与伊朗的谈判引向失败,并补充说,美国正试图在霍尔木兹海峡为其船只开辟一条替代航道。</p><p style=\"text-align: justify;\">美国突然撤销豁免,推翻了上月与伊朗所达成临时和平协议、即谅解备忘录中的一项关键内容。市场认为,美国重新打击伊朗石油出口,加之此前霍尔木兹海峡附近多艘能源运输船遭袭事件,使全球原油供应中断风险重新成为交易核心。</p><p style=\"text-align: justify;\">美国撤销豁免的消息传出后,美股周二尾盘交易中,国际油价涨幅快速扩大,美国WTI原油一度升至72.51美元/桶,较周一收盘上涨近5.8%;布伦特原油最高触及76.36美元/桶,较周一收盘上涨近6.1%。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a69dc0559e762c28996bafca2d0c11a9\" tg-width=\"1059\" tg-height=\"694\"/></p><p style=\"text-align: justify;\">同时,美元走强,ICE美元指数(DXY)涨幅扩大,一度涨破101.10刷新日高,日内上涨约0.3%。贵金属随之加速下跌。现货黄金一度跌破4100美元/盎司,刷新日低,日内跌幅超过1.7%;现货白银刷新日低至59.42美元/盎司,日内跌幅扩大至接近4.2%。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4e306b37d2294adb0bc0282b889cc4ce\" tg-width=\"1071\" tg-height=\"695\"/></p><h2 id=\"id_1010070814\">美国官员指伊朗近日在霍尔木兹海峡向三艘商船开火</h2><p style=\"text-align: justify;\">据多家媒体报道,美国政府周二决定撤销此前允许伊朗继续进行石油销售的制裁豁免。据报道,一名美国官员表示,此次行动与近期霍尔木兹海峡附近发生的油轮袭击事件有关。美国认为,在伊朗相关力量涉嫌威胁商业航运安全后,有必要重新限制伊朗通过石油出口获得收入的能力。</p><p style=\"text-align: justify;\">央视援引匿名美国官员称,初步迹象显示“伊朗近日在霍尔木兹海峡向三艘商船开火”,这一行为“完全不可接受”,将招致相应后果。美方官员还称,尽管局势升级,但美方谈判代表“仍在诚意推进与伊朗达成最终协议”。</p><p style=\"text-align: justify;\">此前,美国政府曾在美伊关系出现阶段性缓和后,给予伊朗相关石油交易临时豁免,允许部分石油出口和相关交易继续进行。该措施一度被市场视为美国释放外交缓和信号的重要举措,也推动市场预期伊朗原油可能逐步回归国际市场。</p><p style=\"text-align: justify;\">央视提到,美国财长贝森特于6月22日宣布,作为美国与伊朗谈判框架的一部分,美国财政部发布一份为期60天的通用许可,授权允许伊朗石油的生产、交付和销售。据美国财政部OFAC当天发布的公告,此前被美国多个行政令和规定禁止的伊朗原油、石化和石油产品的生产、交付及销售交易均得到豁免,期限至2026年8月21日。</p><p style=\"text-align: justify;\">但随着霍尔木兹海峡航运安全形势恶化,美国政策出现转向。</p><p style=\"text-align: justify;\">市场人士认为,此次撤销豁免意味着伊朗石油供应回归预期被明显削弱,全球原油市场重新开始交易“供应风险”。</p><h2 id=\"id_1313688342\">美军称系列打击是对伊朗袭击商船的回应</h2><p style=\"text-align: justify;\">据伊朗媒体Press TV报道,伊朗南部港口城市锡里克(Sirik)发生多起爆炸事件。伊朗媒体报道称,伊朗南部Qeshm Island和Bandar地区也传来爆炸声。 </p><p style=\"text-align: justify;\">此后,据央视新闻,当地时间7月7日,美国中央司令部表示,美军中央司令部部队已开始对伊朗发动一系列强力打击,以回应伊朗针对国际水道中由平民船员操作的商业航运实施瞄准和袭击。</p><p style=\"text-align: justify;\">美国中央司令部称,美方打击是对伊朗袭击三艘正在通过霍尔木兹海峡的商船作出的回应,并表示伊朗的侵略行为“没有正当理由、危险”,且“明显违反停火协议”。</p><h2 id=\"id_2941968185\">霍尔木兹海峡风险升温,油市重新计入供应中断溢价</h2><p style=\"text-align: justify;\">近期霍尔木兹海峡附近发生新的油轮遇袭事件,使全球能源市场重新聚焦这一关键运输通道。</p><p style=\"text-align: justify;\">霍尔木兹海峡连接波斯湾与阿曼湾,是全球最重要的能源运输节点之一,大量中东原油和液化天然气运输需要经过该区域。任何军事冲突升级或航运受阻,都可能迅速影响全球能源供应预期。</p><p style=\"text-align: justify;\">此前,随着美伊谈判推进,以及美国允许伊朗石油交易在有限范围内恢复,市场一度认为中东供应风险正在下降,油价风险溢价逐步消退。</p><p style=\"text-align: justify;\">然而,油轮遇袭事件改变了市场情绪。</p><p style=\"text-align: justify;\">在美国宣布撤销伊朗石油豁免后,交易员迅速重新调整仓位,押注伊朗出口减少以及霍尔木兹航运风险可能进一步推高供应紧张程度。</p><h2 id=\"id_4050991004\">伊朗石油供应前景添变数,油价后续取决于霍尔木兹局势</h2><p style=\"text-align: justify;\">分析人士认为,短期来看,美国撤销伊朗石油销售豁免将继续支撑原油价格,但油价能否持续上涨,关键仍取决于霍尔木兹海峡局势是否进一步恶化。</p><p style=\"text-align: justify;\">如果伊朗出口受到实质性限制,同时更多油轮因安全风险暂停经过霍尔木兹海峡,全球原油供应风险溢价可能继续扩大。</p><p style=\"text-align: justify;\">但如果地区紧张局势得到控制,航运逐步恢复,油价涨幅可能受到限制。</p><p style=\"text-align: justify;\">对于市场而言,此次事件的重要变化在于,交易逻辑已经从此前的“伊朗供应回归”重新转向“中东供应是否再次受到威胁”。</p><p style=\"text-align: justify;\">霍尔木兹海峡的新一轮安全风险,叠加美国重新收紧伊朗石油制裁,使全球能源市场再次进入地缘政治主导的交易阶段。</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/cf8deb964fe83a788e7ae02a962af884","relate_stocks":{},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1176709226","content_text":"美国财政部宣布撤销截至8月下旬的为期60天伊朗能源限制豁免后,原油一度涨6%。美官员称,伊朗近日在霍尔木兹海峡向三艘商船开火,这一行为“完全不可接受”,将招致相应后果;美方仍在诚意推进达成美伊最终协议;美军称,一系列强力打击是对伊袭商船的回应,伊方明显违反停火协议。伊朗最高领袖顾问称,美国将把谈判引向失败、正试图在海峡开辟替代航道。霍尔木兹海峡接连发生船只遇袭后,美国撤销了临时允许伊朗恢复石油销售的制裁豁免,令市场对中东原油供应风险的担忧迅速升温。美东时间7日周二美股尾盘时段,据央视新闻,美国财政部外国资产控制办公室(OFAC)公布,美国撤销一项授权允许伊朗石油销售的通用许可,相关收尾交易将被允许持续至美国东部时间7月17日零点。央视援引美国官员的消息暗示,美方认为,此举是伊朗近期袭击霍尔木兹海峡通行商船招致的后果。在伊朗媒体称伊朗多地发生爆炸后,据央视,美国中央司令部表示,美军已开始对伊朗发动一系列强力打击,作为对伊朗袭击海峡商船的回应,指责伊方明显违反停火协议。OFAC称,自7月7日起,不得开展新的相关交易。此前美国财政部遵循美伊临时和平协议发布的豁免允许相关交易持续60天,原定有效期至8月21日,为伊朗原油出口恢复提供窗口。此次政策逆转意味着特朗普政府再次收紧对伊朗能源出口的限制。央视称,伊朗方面暂未对美国终止对伊石油制裁豁免作出回应。此后传出的报道显示,伊朗最高领袖顾问Mohsen Rezaei周二在接受伊媒采访时表示,很明显,美国将把与伊朗的谈判引向失败,并补充说,美国正试图在霍尔木兹海峡为其船只开辟一条替代航道。美国突然撤销豁免,推翻了上月与伊朗所达成临时和平协议、即谅解备忘录中的一项关键内容。市场认为,美国重新打击伊朗石油出口,加之此前霍尔木兹海峡附近多艘能源运输船遭袭事件,使全球原油供应中断风险重新成为交易核心。美国撤销豁免的消息传出后,美股周二尾盘交易中,国际油价涨幅快速扩大,美国WTI原油一度升至72.51美元/桶,较周一收盘上涨近5.8%;布伦特原油最高触及76.36美元/桶,较周一收盘上涨近6.1%。同时,美元走强,ICE美元指数(DXY)涨幅扩大,一度涨破101.10刷新日高,日内上涨约0.3%。贵金属随之加速下跌。现货黄金一度跌破4100美元/盎司,刷新日低,日内跌幅超过1.7%;现货白银刷新日低至59.42美元/盎司,日内跌幅扩大至接近4.2%。美国官员指伊朗近日在霍尔木兹海峡向三艘商船开火据多家媒体报道,美国政府周二决定撤销此前允许伊朗继续进行石油销售的制裁豁免。据报道,一名美国官员表示,此次行动与近期霍尔木兹海峡附近发生的油轮袭击事件有关。美国认为,在伊朗相关力量涉嫌威胁商业航运安全后,有必要重新限制伊朗通过石油出口获得收入的能力。央视援引匿名美国官员称,初步迹象显示“伊朗近日在霍尔木兹海峡向三艘商船开火”,这一行为“完全不可接受”,将招致相应后果。美方官员还称,尽管局势升级,但美方谈判代表“仍在诚意推进与伊朗达成最终协议”。此前,美国政府曾在美伊关系出现阶段性缓和后,给予伊朗相关石油交易临时豁免,允许部分石油出口和相关交易继续进行。该措施一度被市场视为美国释放外交缓和信号的重要举措,也推动市场预期伊朗原油可能逐步回归国际市场。央视提到,美国财长贝森特于6月22日宣布,作为美国与伊朗谈判框架的一部分,美国财政部发布一份为期60天的通用许可,授权允许伊朗石油的生产、交付和销售。据美国财政部OFAC当天发布的公告,此前被美国多个行政令和规定禁止的伊朗原油、石化和石油产品的生产、交付及销售交易均得到豁免,期限至2026年8月21日。但随着霍尔木兹海峡航运安全形势恶化,美国政策出现转向。市场人士认为,此次撤销豁免意味着伊朗石油供应回归预期被明显削弱,全球原油市场重新开始交易“供应风险”。美军称系列打击是对伊朗袭击商船的回应据伊朗媒体Press TV报道,伊朗南部港口城市锡里克(Sirik)发生多起爆炸事件。伊朗媒体报道称,伊朗南部Qeshm Island和Bandar地区也传来爆炸声。 此后,据央视新闻,当地时间7月7日,美国中央司令部表示,美军中央司令部部队已开始对伊朗发动一系列强力打击,以回应伊朗针对国际水道中由平民船员操作的商业航运实施瞄准和袭击。美国中央司令部称,美方打击是对伊朗袭击三艘正在通过霍尔木兹海峡的商船作出的回应,并表示伊朗的侵略行为“没有正当理由、危险”,且“明显违反停火协议”。霍尔木兹海峡风险升温,油市重新计入供应中断溢价近期霍尔木兹海峡附近发生新的油轮遇袭事件,使全球能源市场重新聚焦这一关键运输通道。霍尔木兹海峡连接波斯湾与阿曼湾,是全球最重要的能源运输节点之一,大量中东原油和液化天然气运输需要经过该区域。任何军事冲突升级或航运受阻,都可能迅速影响全球能源供应预期。此前,随着美伊谈判推进,以及美国允许伊朗石油交易在有限范围内恢复,市场一度认为中东供应风险正在下降,油价风险溢价逐步消退。然而,油轮遇袭事件改变了市场情绪。在美国宣布撤销伊朗石油豁免后,交易员迅速重新调整仓位,押注伊朗出口减少以及霍尔木兹航运风险可能进一步推高供应紧张程度。伊朗石油供应前景添变数,油价后续取决于霍尔木兹局势分析人士认为,短期来看,美国撤销伊朗石油销售豁免将继续支撑原油价格,但油价能否持续上涨,关键仍取决于霍尔木兹海峡局势是否进一步恶化。如果伊朗出口受到实质性限制,同时更多油轮因安全风险暂停经过霍尔木兹海峡,全球原油供应风险溢价可能继续扩大。但如果地区紧张局势得到控制,航运逐步恢复,油价涨幅可能受到限制。对于市场而言,此次事件的重要变化在于,交易逻辑已经从此前的“伊朗供应回归”重新转向“中东供应是否再次受到威胁”。霍尔木兹海峡的新一轮安全风险,叠加美国重新收紧伊朗石油制裁,使全球能源市场再次进入地缘政治主导的交易阶段。","news_type":1,"symbols_score_info":{"CLmain":2,"BZmain":2}},"isVote":1,"tweetType":1,"viewCount":443,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":571917642164824,"gmtCreate":1780650735149,"gmtModify":1780651728748,"author":{"id":"4228385961123602","authorId":"4228385961123602","name":"HAKUBUN","avatar":"https://static.tigerbbs.com/97e39f638d455bd5828c866ff7fee9d7","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4228385961123602","authorIdStr":"4228385961123602"},"themes":[],"title":"","htmlText":"用这种小作文压低价格,背后大量吸货。","listText":"用这种小作文压低价格,背后大量吸货。","text":"用这种小作文压低价格,背后大量吸货。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/571917642164824","repostId":"1169570143","repostType":2,"repost":{"id":"1169570143","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据,旨在帮助投资者理解世界,做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1780626424,"share":"https://www.laohunote.com/m/news/1169570143?lang=zh_CN&edition=full","pubTime":"2026-06-05 10:27","market":"us","language":"zh","title":"英伟达削减Rubin内存配置引发内存股大跌?SemiAnalysis创始人紧急出面澄清","url":"https://stock-news.laohu8.com/highlight/detail?id=1169570143","media":"老虎资讯综合","summary":"市场流传消息称,英伟达下一代AI服务器集群Rubin NVL72为缓解供应链压力,将单机柜内存容量由原规划的55TB下调至28TB,并改用96GB SOCAMM内存模块替代192GB版本。","content":"<html><head></head><body><p style=\"text-align: left;\">近日市场流传消息称,英伟达下一代AI服务器集群Rubin NVL72为缓解供应链压力,将单机柜内存容量由原规划的55TB下调至28TB,并改用96GB SOCAMM内存模块替代192GB版本。受相关消息影响,内存板块承压,美光科技周四收跌近8%,SK海力士周五一度大跌近10%。</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/11df18418789d6cff8f583b1212bddc8\" data-align=\"center\" tg-width=\"1152\" tg-height=\"733\"/><span></span></p><p style=\"text-align: left;\">不过,发布相关研究的SemiAnalysis创始人兼CEO兼首席分析师Dylan Patel随后出面澄清称,市场对报告内容存在误读。他表示,不少人在转发过程中忽略了报告的大部分核心内容,而原始研报本身也并未使用类似“英伟达大砍内存配置”等吸引眼球的表述。</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/027fd6485a9e8428bf86029ac03f1057\" data-align=\"center\" tg-width=\"596\" tg-height=\"643\"/><span></span></p><p style=\"text-align: left;\">市场人士认为,目前关于Rubin平台最终内存配置、量产节奏及对HBM需求的实际影响仍存在较大不确定性,投资者或需等待更多官方信息及产业链验证。</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>英伟达削减Rubin内存配置引发内存股大跌?SemiAnalysis创始人紧急出面澄清</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ 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}\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n英伟达削减Rubin内存配置引发内存股大跌?SemiAnalysis创始人紧急出面澄清\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time\">2026-06-05 10:27</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p style=\"text-align: left;\">近日市场流传消息称,英伟达下一代AI服务器集群Rubin NVL72为缓解供应链压力,将单机柜内存容量由原规划的55TB下调至28TB,并改用96GB SOCAMM内存模块替代192GB版本。受相关消息影响,内存板块承压,美光科技周四收跌近8%,SK海力士周五一度大跌近10%。</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/11df18418789d6cff8f583b1212bddc8\" data-align=\"center\" tg-width=\"1152\" tg-height=\"733\"/><span></span></p><p style=\"text-align: left;\">不过,发布相关研究的SemiAnalysis创始人兼CEO兼首席分析师Dylan Patel随后出面澄清称,市场对报告内容存在误读。他表示,不少人在转发过程中忽略了报告的大部分核心内容,而原始研报本身也并未使用类似“英伟达大砍内存配置”等吸引眼球的表述。</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/027fd6485a9e8428bf86029ac03f1057\" data-align=\"center\" tg-width=\"596\" tg-height=\"643\"/><span></span></p><p style=\"text-align: left;\">市场人士认为,目前关于Rubin平台最终内存配置、量产节奏及对HBM需求的实际影响仍存在较大不确定性,投资者或需等待更多官方信息及产业链验证。</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/f5e8aba7de194dc92d26747c1cfec057","relate_stocks":{"MU":"美光科技","SNDK":"闪迪","MULL":"2倍做多MU ETF-GraniteShares","SNDU":"2倍做多SNDK ETF-T-REX","SIMO":"慧荣科技","SNXX":"2倍做多SNDK ETF-Tradr","MUU":"2倍做多MU ETF-Direxion","07709":"南方两倍做多海力士","STX":"希捷科技","WDCX":"Tradr 2X Long WDC Daily ETF","WDC":"西部数据","07747":"南方两倍做多三星电子","RMBS":"Rambus","MUD":"1倍做空MU ETF-Direxion"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1169570143","content_text":"近日市场流传消息称,英伟达下一代AI服务器集群Rubin NVL72为缓解供应链压力,将单机柜内存容量由原规划的55TB下调至28TB,并改用96GB SOCAMM内存模块替代192GB版本。受相关消息影响,内存板块承压,美光科技周四收跌近8%,SK海力士周五一度大跌近10%。不过,发布相关研究的SemiAnalysis创始人兼CEO兼首席分析师Dylan Patel随后出面澄清称,市场对报告内容存在误读。他表示,不少人在转发过程中忽略了报告的大部分核心内容,而原始研报本身也并未使用类似“英伟达大砍内存配置”等吸引眼球的表述。市场人士认为,目前关于Rubin平台最终内存配置、量产节奏及对HBM需求的实际影响仍存在较大不确定性,投资者或需等待更多官方信息及产业链验证。","news_type":1,"symbols_score_info":{"SNDU":0.6,"SNXX":0.6,"WDCX":0.6,"PSTG":2,"RMBS":2,"07709":2,"SIMO":2,"STX":2,"MU":2,"MUD":0.6,"MUU":0.6,"WDC":2,"07747":2,"SNDK":2,"MULL":0.6}},"isVote":1,"tweetType":1,"viewCount":1053,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":590688302822152,"gmtCreate":1785212522824,"gmtModify":1785212524951,"author":{"id":"4228385961123602","authorId":"4228385961123602","name":"HAKUBUN","avatar":"https://static.tigerbbs.com/97e39f638d455bd5828c866ff7fee9d7","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4228385961123602","authorIdStr":"4228385961123602"},"themes":[],"title":"","htmlText":"华尔街的空投最喜欢拿中国鬼故事吓唬市场,真是屡试不爽呀","listText":"华尔街的空投最喜欢拿中国鬼故事吓唬市场,真是屡试不爽呀","text":"华尔街的空投最喜欢拿中国鬼故事吓唬市场,真是屡试不爽呀","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/590688302822152","repostId":"1187931355","repostType":2,"repost":{"id":"1187931355","kind":"news","weMediaInfo":{"introduction":"追踪全球财经热点,精选影响您财富的资讯,投资理财必备神器!","home_visible":1,"media_name":"华尔街见闻","id":"1084101182","head_image":"https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e"},"pubTimestamp":1785197923,"share":"https://www.laohunote.com/m/news/1187931355?lang=zh_CN&edition=full","pubTime":"2026-07-28 08:18","market":"us","language":"zh","title":"中国DRAM巨头搅动全球格局,美股存储芯片跳水,SK海力士破发,闪迪一个月接近腰斩","url":"https://stock-news.laohu8.com/highlight/detail?id=1187931355","media":"华尔街见闻","summary":"SK海力士自7月10日赴美上市以来首次收盘跌破IPO发行价,收盘较发行价低4%。中国DRAM龙头上市,引发全球存储板块重估对于本周一美股存储芯片股大跌,多家外媒认为,市场担忧的并非长鑫科技短期业绩,而是全球DRAM供给格局未来可能发生变化。AI时代,真正决定胜负的仍是HBM不过,从全球竞争格局来看,多数机构仍认为,美光、SK海力士和三星在AI存储领域的领先优势短期难以撼动。","content":"<html><head></head><body><blockquote><p>周一盘中,闪迪跌超10%、市值一个月蒸发1700亿美元,SK海力士ADR曾跌10%,美光一度跌超7%。多数机构仍认为,美光、SK海力士和三星在AI存储领域的领先优势短期难以撼动。有分析师认为,存储芯片股回调提供了新的布局机会。</p></blockquote><p style=\"text-align: justify;\">国存储芯片龙头长鑫科技登陆A股首日的火爆表现,正在成为全球存储芯片板块的新变量。</p><p style=\"text-align: justify;\">周一美股盘中,存储芯片股重挫,成为大盘最大拖累。闪迪(SNDK)盘中跌超10%、早盘刷新日低时跌约14.6%,较6月22日创下的历史高点累跌47%,过去一个月内市值蒸发约1700亿美元;SK海力士ADR(SKHY)盘中曾跌约10%,西部数据(WDC)和希捷科技(STX)盘中曾分别跌超9%和8%,美光科技(MU)一度跌超7%。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/21ac8ecb5c5dcf5cc5f94e612e8c0127\" tg-width=\"560\" tg-height=\"240\" data-image-type=\"kline\"/></p><p style=\"text-align: justify;\">到收盘,闪迪、SK海力士ADR、西部数据、希捷科技和美光分别跌约11%、7.5%、4.2%、4.1%和2.3%。SK海力士自7月10日赴美上市以来首次收盘跌破IPO发行价,收盘较发行价低4%。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/857babbd27fd7e1470bfb614f1eac087\" tg-width=\"560\" tg-height=\"240\" data-image-type=\"kline\"/></p><p style=\"text-align: justify;\">早盘刷新日低时,追踪芯片股总体表现的费城半导体指数跌约5%,表现远逊三大美股指,最终收跌2.2%。标普500指数和纳指刷新日低时分别跌约0.4%和0.8%,道指全天保持涨势。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4ac643d36cc83251efa77003eda7b4b1\" tg-width=\"560\" tg-height=\"240\" data-image-type=\"kline\"/></p><p style=\"text-align: justify;\">市场普遍将矛头指向当天在上交所科创板上市的长鑫科技(CXMT)。这家中国最大的DRAM厂商上市首日股价暴涨超460%,市值突破3万亿元人民币,成为新的A股市值一哥,也令全球投资者重新评估未来几年DRAM行业的竞争格局。</p><h2 id=\"id_1280442175\">中国DRAM龙头上市,引发全球存储板块重估</h2><p style=\"text-align: justify;\">对于本周一美股存储芯片股大跌,多家外媒认为,市场担忧的并非长鑫科技短期业绩,而是全球DRAM供给格局未来可能发生变化。</p><p style=\"text-align: justify;\">分析认为,长鑫科技完成亚洲今年规模最大的IPO后,意味着公司获得更加充裕的资本支持,其未来扩产、技术研发以及向HBM等AI高端存储领域迈进的能力都有望增强。对于此前已经大幅上涨的全球存储芯片龙头而言,这意味着长期竞争压力正在上升。</p><p style=\"text-align: justify;\">有评论指出,市场担心随着长鑫科技融资完成,未来DRAM新增供给可能加快释放,从而削弱当前市场对于存储价格持续上涨的乐观预期。与此同时,此前美光、SK海力士、闪迪等存储股经历了大幅上涨,在高估值背景下,任何竞争格局变化都容易触发获利回吐。</p><p style=\"text-align: justify;\">还有评论认为,本轮回调更多体现为市场重新定价。虽然AI推动的HBM需求依旧强劲,但投资者开始重新思考:如果中国厂商持续提升产能和技术实力,未来传统DRAM业务是否会提前进入竞争加剧阶段,进而影响行业利润率。</p><p style=\"text-align: justify;\">不过,不少分析师认为,市场反应可能存在一定程度的过度解读。</p><p style=\"text-align: justify;\">目前长鑫科技产品仍主要集中在DDR4、DDR5等传统DRAM领域,而美光、SK海力士和三星当前利润增长最快的业务来自HBM等AI存储产品。受美国出口限制影响,长鑫科技短期内进入HBM高端市场仍面临较高技术门槛,因此全球AI存储市场格局短期内难以发生根本改变。</p><h2 id=\"id_1213106346\">长鑫科技首日暴涨,资本市场押注“中国存储”</h2><p style=\"text-align: justify;\">长鑫科技此次IPO本身就备受全球关注。</p><p style=\"text-align: justify;\">公司此次募集资金约579亿元人民币(约86亿美元),创今年亚洲IPO募资规模新高。上市首日、本周一,公司股价收盘较发行价涨465.82%,总市值达3.28万亿,超越工商银行、成为A股总市值之首,市值相当于两个贵州茅台。</p><p style=\"text-align: justify;\">周一全天,长鑫科技成交额超1400亿元,成为A股史上首只单日成交额突破千亿元的个股。</p><p style=\"text-align: justify;\">公开资料显示,长鑫科技成立于2016年,是中国规模最大的DRAM芯片制造商,也是中国实现DRAM自主研发和量产的重要代表企业。目前公司产品覆盖消费电子、PC、服务器、汽车电子等多个领域,并持续推进DDR5等新产品研发。</p><p style=\"text-align: justify;\">国内媒体普遍认为,长鑫科技上市不仅意味着中国半导体产业迎来新的里程碑,也意味着资本市场正在给予国产高端制造和“硬科技”更高估值溢价。市场期待募集资金将进一步支持先进制程研发、扩大产能以及完善国产存储产业链。</p><h2 id=\"id_1542057506\">AI时代,真正决定胜负的仍是HBM</h2><p style=\"text-align: justify;\">不过,从全球竞争格局来看,多数机构仍认为,美光、SK海力士和三星在AI存储领域的领先优势短期难以撼动。</p><p style=\"text-align: justify;\">当前AI服务器需求爆发,使HBM成为全球最紧缺的半导体产品之一。美光和SK海力士几乎包揽了英伟达等AI芯片厂商的HBM供应,相关业务也是推动两家公司盈利快速增长的核心动力。</p><p style=\"text-align: justify;\">因此,不少分析人士认为,周一存储股的大跌更像是一次情绪驱动的估值调整,而非行业基本面出现拐点。随着AI基础设施建设持续推进,高端存储需求仍有望保持高速增长。</p><p style=\"text-align: justify;\">Bernstein分析师Mark Li甚至认为,当天板块回调反而提供了新的布局机会。他预计,到2027年至2028年,全球存储芯片市场收入仍有望突破1.3万亿美元,AI时代的数据中心建设将持续支撑DRAM和HBM需求增长。</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" 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width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n中国DRAM巨头搅动全球格局,美股存储芯片跳水,SK海力士破发,闪迪一个月接近腰斩\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1084101182\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">华尔街见闻 </p>\n<p class=\"h-time\">2026-07-28 08:18</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><blockquote><p>周一盘中,闪迪跌超10%、市值一个月蒸发1700亿美元,SK海力士ADR曾跌10%,美光一度跌超7%。多数机构仍认为,美光、SK海力士和三星在AI存储领域的领先优势短期难以撼动。有分析师认为,存储芯片股回调提供了新的布局机会。</p></blockquote><p style=\"text-align: justify;\">国存储芯片龙头长鑫科技登陆A股首日的火爆表现,正在成为全球存储芯片板块的新变量。</p><p style=\"text-align: justify;\">周一美股盘中,存储芯片股重挫,成为大盘最大拖累。闪迪(SNDK)盘中跌超10%、早盘刷新日低时跌约14.6%,较6月22日创下的历史高点累跌47%,过去一个月内市值蒸发约1700亿美元;SK海力士ADR(SKHY)盘中曾跌约10%,西部数据(WDC)和希捷科技(STX)盘中曾分别跌超9%和8%,美光科技(MU)一度跌超7%。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/21ac8ecb5c5dcf5cc5f94e612e8c0127\" tg-width=\"560\" tg-height=\"240\" data-image-type=\"kline\"/></p><p style=\"text-align: justify;\">到收盘,闪迪、SK海力士ADR、西部数据、希捷科技和美光分别跌约11%、7.5%、4.2%、4.1%和2.3%。SK海力士自7月10日赴美上市以来首次收盘跌破IPO发行价,收盘较发行价低4%。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/857babbd27fd7e1470bfb614f1eac087\" tg-width=\"560\" tg-height=\"240\" data-image-type=\"kline\"/></p><p style=\"text-align: justify;\">早盘刷新日低时,追踪芯片股总体表现的费城半导体指数跌约5%,表现远逊三大美股指,最终收跌2.2%。标普500指数和纳指刷新日低时分别跌约0.4%和0.8%,道指全天保持涨势。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4ac643d36cc83251efa77003eda7b4b1\" tg-width=\"560\" tg-height=\"240\" data-image-type=\"kline\"/></p><p style=\"text-align: justify;\">市场普遍将矛头指向当天在上交所科创板上市的长鑫科技(CXMT)。这家中国最大的DRAM厂商上市首日股价暴涨超460%,市值突破3万亿元人民币,成为新的A股市值一哥,也令全球投资者重新评估未来几年DRAM行业的竞争格局。</p><h2 id=\"id_1280442175\">中国DRAM龙头上市,引发全球存储板块重估</h2><p style=\"text-align: justify;\">对于本周一美股存储芯片股大跌,多家外媒认为,市场担忧的并非长鑫科技短期业绩,而是全球DRAM供给格局未来可能发生变化。</p><p style=\"text-align: justify;\">分析认为,长鑫科技完成亚洲今年规模最大的IPO后,意味着公司获得更加充裕的资本支持,其未来扩产、技术研发以及向HBM等AI高端存储领域迈进的能力都有望增强。对于此前已经大幅上涨的全球存储芯片龙头而言,这意味着长期竞争压力正在上升。</p><p style=\"text-align: justify;\">有评论指出,市场担心随着长鑫科技融资完成,未来DRAM新增供给可能加快释放,从而削弱当前市场对于存储价格持续上涨的乐观预期。与此同时,此前美光、SK海力士、闪迪等存储股经历了大幅上涨,在高估值背景下,任何竞争格局变化都容易触发获利回吐。</p><p style=\"text-align: justify;\">还有评论认为,本轮回调更多体现为市场重新定价。虽然AI推动的HBM需求依旧强劲,但投资者开始重新思考:如果中国厂商持续提升产能和技术实力,未来传统DRAM业务是否会提前进入竞争加剧阶段,进而影响行业利润率。</p><p style=\"text-align: justify;\">不过,不少分析师认为,市场反应可能存在一定程度的过度解读。</p><p style=\"text-align: justify;\">目前长鑫科技产品仍主要集中在DDR4、DDR5等传统DRAM领域,而美光、SK海力士和三星当前利润增长最快的业务来自HBM等AI存储产品。受美国出口限制影响,长鑫科技短期内进入HBM高端市场仍面临较高技术门槛,因此全球AI存储市场格局短期内难以发生根本改变。</p><h2 id=\"id_1213106346\">长鑫科技首日暴涨,资本市场押注“中国存储”</h2><p style=\"text-align: justify;\">长鑫科技此次IPO本身就备受全球关注。</p><p style=\"text-align: justify;\">公司此次募集资金约579亿元人民币(约86亿美元),创今年亚洲IPO募资规模新高。上市首日、本周一,公司股价收盘较发行价涨465.82%,总市值达3.28万亿,超越工商银行、成为A股总市值之首,市值相当于两个贵州茅台。</p><p style=\"text-align: justify;\">周一全天,长鑫科技成交额超1400亿元,成为A股史上首只单日成交额突破千亿元的个股。</p><p style=\"text-align: justify;\">公开资料显示,长鑫科技成立于2016年,是中国规模最大的DRAM芯片制造商,也是中国实现DRAM自主研发和量产的重要代表企业。目前公司产品覆盖消费电子、PC、服务器、汽车电子等多个领域,并持续推进DDR5等新产品研发。</p><p style=\"text-align: justify;\">国内媒体普遍认为,长鑫科技上市不仅意味着中国半导体产业迎来新的里程碑,也意味着资本市场正在给予国产高端制造和“硬科技”更高估值溢价。市场期待募集资金将进一步支持先进制程研发、扩大产能以及完善国产存储产业链。</p><h2 id=\"id_1542057506\">AI时代,真正决定胜负的仍是HBM</h2><p style=\"text-align: justify;\">不过,从全球竞争格局来看,多数机构仍认为,美光、SK海力士和三星在AI存储领域的领先优势短期难以撼动。</p><p style=\"text-align: justify;\">当前AI服务器需求爆发,使HBM成为全球最紧缺的半导体产品之一。美光和SK海力士几乎包揽了英伟达等AI芯片厂商的HBM供应,相关业务也是推动两家公司盈利快速增长的核心动力。</p><p style=\"text-align: justify;\">因此,不少分析人士认为,周一存储股的大跌更像是一次情绪驱动的估值调整,而非行业基本面出现拐点。随着AI基础设施建设持续推进,高端存储需求仍有望保持高速增长。</p><p style=\"text-align: justify;\">Bernstein分析师Mark Li甚至认为,当天板块回调反而提供了新的布局机会。他预计,到2027年至2028年,全球存储芯片市场收入仍有望突破1.3万亿美元,AI时代的数据中心建设将持续支撑DRAM和HBM需求增长。</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/38b14d4c1528b585f44d427c7a09d860","relate_stocks":{"MULL":"2倍做多MU ETF-GraniteShares","SKHU":"2倍做多海力士-ProShares","MIC":"2倍做多MU ETF-Corgi","STX":"希捷科技","NVDW":"NVDA周配息ETF-Roundhill","SKHX":"2倍做多海力士ETF-Leverage Shares","ASMU":"Direxion Daily ASML Bull 2X ETF","SNDU":"2倍做多SNDK ETF-T-REX","07788":"南方两倍做多英伟达","HYNX":"2倍做多海力士ETF-T-REX","NVDX":"2倍做多NVDA ETF-T-Rex","SNXX":"2倍做多SNDK ETF-Tradr","SKHZ":"1倍做空海力士ETF-Leverage Shares","SNDQ":"2倍做空SNDK ETF-Tradr","NVDY":"NVDA期权收益策略ETF-YieldMax","AMDD":"1倍做空AMD ETF-Direxion","NVDO":"2倍上限加速NVDA ETF-Leverage Shares","MU":"美光科技","SKHY":"SK海力士","SNDG":"2倍做多SNDK ETF-Leverage Shares","NVD":"2倍做空NVDA ETF-GraniteShares","NVDA":"英伟达","ASML":"阿斯麦","07388":"南方两倍做空英伟达","AMDG":"2倍做多AMD ETF- Leverage Shares","NVYY":"GraniteShares YieldBOOST NVDA ETF","ANV":"GraniteShares Autocallable NVDA ETF","SNDC":"2倍做多SNDK ETF-Corgi","NVDB":"ProShares Ultra NVDA ETF","NVII":"Rex NVDA Growth & Income ETF","SK":"2倍做多海力士ETF-Corgi","AMDL":"2倍做多AMD ETF-GraniteShares","NVDD":"1倍做空NVDA ETF-Direxion","SKDD":"2倍做空海力士ETF-GraniteShares","DAMD":"2倍做空AMD 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ETF-Direxion"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1187931355","content_text":"周一盘中,闪迪跌超10%、市值一个月蒸发1700亿美元,SK海力士ADR曾跌10%,美光一度跌超7%。多数机构仍认为,美光、SK海力士和三星在AI存储领域的领先优势短期难以撼动。有分析师认为,存储芯片股回调提供了新的布局机会。国存储芯片龙头长鑫科技登陆A股首日的火爆表现,正在成为全球存储芯片板块的新变量。周一美股盘中,存储芯片股重挫,成为大盘最大拖累。闪迪(SNDK)盘中跌超10%、早盘刷新日低时跌约14.6%,较6月22日创下的历史高点累跌47%,过去一个月内市值蒸发约1700亿美元;SK海力士ADR(SKHY)盘中曾跌约10%,西部数据(WDC)和希捷科技(STX)盘中曾分别跌超9%和8%,美光科技(MU)一度跌超7%。到收盘,闪迪、SK海力士ADR、西部数据、希捷科技和美光分别跌约11%、7.5%、4.2%、4.1%和2.3%。SK海力士自7月10日赴美上市以来首次收盘跌破IPO发行价,收盘较发行价低4%。早盘刷新日低时,追踪芯片股总体表现的费城半导体指数跌约5%,表现远逊三大美股指,最终收跌2.2%。标普500指数和纳指刷新日低时分别跌约0.4%和0.8%,道指全天保持涨势。市场普遍将矛头指向当天在上交所科创板上市的长鑫科技(CXMT)。这家中国最大的DRAM厂商上市首日股价暴涨超460%,市值突破3万亿元人民币,成为新的A股市值一哥,也令全球投资者重新评估未来几年DRAM行业的竞争格局。中国DRAM龙头上市,引发全球存储板块重估对于本周一美股存储芯片股大跌,多家外媒认为,市场担忧的并非长鑫科技短期业绩,而是全球DRAM供给格局未来可能发生变化。分析认为,长鑫科技完成亚洲今年规模最大的IPO后,意味着公司获得更加充裕的资本支持,其未来扩产、技术研发以及向HBM等AI高端存储领域迈进的能力都有望增强。对于此前已经大幅上涨的全球存储芯片龙头而言,这意味着长期竞争压力正在上升。有评论指出,市场担心随着长鑫科技融资完成,未来DRAM新增供给可能加快释放,从而削弱当前市场对于存储价格持续上涨的乐观预期。与此同时,此前美光、SK海力士、闪迪等存储股经历了大幅上涨,在高估值背景下,任何竞争格局变化都容易触发获利回吐。还有评论认为,本轮回调更多体现为市场重新定价。虽然AI推动的HBM需求依旧强劲,但投资者开始重新思考:如果中国厂商持续提升产能和技术实力,未来传统DRAM业务是否会提前进入竞争加剧阶段,进而影响行业利润率。不过,不少分析师认为,市场反应可能存在一定程度的过度解读。目前长鑫科技产品仍主要集中在DDR4、DDR5等传统DRAM领域,而美光、SK海力士和三星当前利润增长最快的业务来自HBM等AI存储产品。受美国出口限制影响,长鑫科技短期内进入HBM高端市场仍面临较高技术门槛,因此全球AI存储市场格局短期内难以发生根本改变。长鑫科技首日暴涨,资本市场押注“中国存储”长鑫科技此次IPO本身就备受全球关注。公司此次募集资金约579亿元人民币(约86亿美元),创今年亚洲IPO募资规模新高。上市首日、本周一,公司股价收盘较发行价涨465.82%,总市值达3.28万亿,超越工商银行、成为A股总市值之首,市值相当于两个贵州茅台。周一全天,长鑫科技成交额超1400亿元,成为A股史上首只单日成交额突破千亿元的个股。公开资料显示,长鑫科技成立于2016年,是中国规模最大的DRAM芯片制造商,也是中国实现DRAM自主研发和量产的重要代表企业。目前公司产品覆盖消费电子、PC、服务器、汽车电子等多个领域,并持续推进DDR5等新产品研发。国内媒体普遍认为,长鑫科技上市不仅意味着中国半导体产业迎来新的里程碑,也意味着资本市场正在给予国产高端制造和“硬科技”更高估值溢价。市场期待募集资金将进一步支持先进制程研发、扩大产能以及完善国产存储产业链。AI时代,真正决定胜负的仍是HBM不过,从全球竞争格局来看,多数机构仍认为,美光、SK海力士和三星在AI存储领域的领先优势短期难以撼动。当前AI服务器需求爆发,使HBM成为全球最紧缺的半导体产品之一。美光和SK海力士几乎包揽了英伟达等AI芯片厂商的HBM供应,相关业务也是推动两家公司盈利快速增长的核心动力。因此,不少分析人士认为,周一存储股的大跌更像是一次情绪驱动的估值调整,而非行业基本面出现拐点。随着AI基础设施建设持续推进,高端存储需求仍有望保持高速增长。Bernstein分析师Mark Li甚至认为,当天板块回调反而提供了新的布局机会。他预计,到2027年至2028年,全球存储芯片市场收入仍有望突破1.3万亿美元,AI时代的数据中心建设将持续支撑DRAM和HBM需求增长。","news_type":1,"symbols_score_info":{"NVDY":0.6,"SNDG":0.6,"NVDS":0.6,"AMDY":0.6,"NVYY":0.6,"SNDC":0.6,"MUD":0.6,"MUZ":0.6,"NVDL":0.6,"ASMG":0.6,"NVDX":0.6,"SNDQ":0.6,"NVD":0.6,"WDCX":0.6,"AMDD":0.6,"NVII":0.6,"ANV":0.6,"SK":0.6,"AMUU":0.6,"MIC":0.6,"SNXX":0.6,"07388":0.6,"NVDO":0.6,"AMDW":0.6,"SNDU":0.6,"SKUU":0.6,"07709":0.6,"NVDQ":0.6,"NVDA":2,"MULL":0.6,"MUYY":0.6,"MU":2,"NVDU":0.6,"SKHX":0.6,"NVDD":0.6,"SKHZ":0.6,"WDC":2,"ASMU":0.6,"SKHU":0.6,"AMDG":0.6,"NVDB":0.6,"STX":2,"07788":0.6,"AMDU":0.6,"MUU":0.6,"SKHY":2,"HYNX":0.6,"SKDD":0.6,"AMDL":0.6,"NVDW":0.6,"SNDK":2,"DAMD":0.6,"AMYY":0.6,"ASML":2,"NVDG":0.6,"DIPS":0.6,"AMD":2}},"isVote":1,"tweetType":1,"viewCount":389,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":590127204377304,"gmtCreate":1785075531144,"gmtModify":1785075533198,"author":{"id":"4228385961123602","authorId":"4228385961123602","name":"HAKUBUN","avatar":"https://static.tigerbbs.com/97e39f638d455bd5828c866ff7fee9d7","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4228385961123602","authorIdStr":"4228385961123602"},"themes":[],"title":"","htmlText":"信TACO得永生","listText":"信TACO得永生","text":"信TACO得永生","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/590127204377304","repostId":"2654057097","repostType":2,"repost":{"id":"2654057097","kind":"highlight","weMediaInfo":{"introduction":"追踪全球财经热点,精选影响您财富的资讯,投资理财必备神器!","home_visible":1,"media_name":"华尔街见闻","id":"1084101182","head_image":"https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e"},"pubTimestamp":1785027205,"share":"https://www.laohunote.com/m/news/2654057097?lang=zh_CN&edition=full","pubTime":"2026-07-26 08:53","market":"us","language":"zh","title":"特朗普下令暂停空袭伊朗","url":"https://stock-news.laohu8.com/highlight/detail?id=2654057097","media":"华尔街见闻","summary":"知情人士表示,此举旨在为外交谈判留出空间,阿曼代表团已赴德黑兰就重启霍尔木兹海峡通航展开谈判。然而,持续数月的冲突已致国际油价破百,特朗普正深陷进退两难的战略困境,高油价带来的经济代价更直接威胁共和党11月中期选举选情。","content":"<html><head></head><body><p style=\"text-align: left;\">美国总统特朗普在持续13天的空袭后突然踩下刹车,分析称,这一决定折射出他在这场旷日持久冲突中日益深重的战略困境。</p><p style=\"text-align: left;\">据央视新闻报道,当地时间7月25日,特朗普下令美军当天不对伊朗发动新的空袭,结束了此前连续近两周的每日打击行动。<strong>两名知情人士表示,此举一方面是为给外交谈判留出空间,另一方面是因为特朗普认为,在不重启大规模军事行动的情况下,现有空袭已基本达到效果上限。</strong>与此同时,阿曼代表团已抵达德黑兰,就重启霍尔木兹海峡通航展开谈判,<strong>知情人士称双方有望在本周末达成协议。</strong></p><p style=\"text-align: left;\">然而,<strong>这场冲突已远超特朗普最初的预期。</strong>这场美国与以色列于今年2月底联合发起的战争,如今已进入第五个月,布伦特原油价格本周四盘中突破每桶100美元,美国汽油价格随之攀升,令共和党在11月中期选举中的前景愈发黯淡。据媒体报道,民调显示,<strong>民主党在通用选票测试中已领先共和党11个百分点。</strong></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7c9fdd36d5ceee3c373e86e2627dbda8\" data-align=\"center\" tg-width=\"1024\" tg-height=\"651\"/><span></span></p><p style=\"text-align: left;\"></p><h2 style=\"text-align: left;\">暂停空袭:外交窗口还是战术调整</h2><p style=\"text-align: left;\">据央视新闻,特朗普此前每天都会批准军方提交的对伊朗打击方案,但25日收到新的作战计划后,并未批准执行,而是直接下令当天暂停空袭。<strong>目前尚不清楚这一决定是一天的临时安排,还是意味着军事行动将进入更长时间的暂停阶段。</strong></p><p style=\"text-align: left;\">美军仍在制定恢复大规模军事行动的预案,一旦特朗普下令,可在短时间内恢复打击。特朗普24日在白宫接受采访时表示,美国保留继续空袭乃至进一步升级的选项,"可以摧毁他们拥有的一切",但他同时强调,与伊朗"达成协议才是更聪明的策略"。他表示,美伊双方目前"正在进行对话",伊朗方面"一天比一天更认真"。</p><p style=\"text-align: left;\"><strong>暂停空袭的决定与外交进展几乎同步发生。</strong>央视新闻指出,据悉,特朗普下令暂停空袭前数小时,阿曼代表团已抵达德黑兰,就重启霍尔木兹海峡通航的新安排展开谈判。两<strong>名了解谈判情况的地区消息人士称,谈判已取得进展,阿曼与伊朗有望在本周末达成协议,届时特朗普将决定是否接受这一方案。</strong></p><p style=\"text-align: left;\">然而,<strong>谈判能否取得实质突破仍存在高度不确定性。</strong>据报道,也门胡塞武装对红海航运的袭击已开辟新的冲突战线,令霍尔木兹海峡替代航线的安全性受到质疑。分析人士Michael Knights表示:</p><blockquote><p style=\"text-align: left;\">"我认为我们正在进入一段美国与伊朗威胁网络之间持续升级的时期,双方都有能力将冲突维持数月之久。"</p></blockquote><p style=\"text-align: left;\">据悉,特朗普过去两周内提出了一系列解锁僵局的方案,包括宣布对霍尔木兹海峡过境船只征收20%通行费,随后在海湾盟友压力下撤回,以及提出动用没收的伊朗资金赔偿袭击损失,但均未提供具体细节。<strong>这些举措在外界看来更像是在寻找出路,而非展示战略定力。</strong></p><h2 style=\"text-align: left;\">战略困境:无路可退,无路可进</h2><p style=\"text-align: left;\">据媒体报道,卡内基国际和平基金会高级研究员Aaron David Miller将<strong>特朗普当前的处境描述为"一份全是坏选项的菜单"</strong>。撤退将带来政治上的难堪,升级则风险难以掌控,而此前由副总统万斯(<a href=\"https://laohu8.com/S/JD\">JD</a> Vance)、特使Steve Witkoff和女婿库什纳(Jared Kushner)主导的谈判,最终只换来一份脆弱的谅解备忘录。"如果你问我出路在哪里,我会告诉你,截至目前,我看不到,"Aaron David Miller说。</p><p style=\"text-align: left;\"><strong>这场冲突已成为特朗普执政的标志性困境。</strong>他在几乎所有公开场合都会提及这场战争,并频繁在社交媒体上发帖。特朗普曾在2024年竞选时承诺让美国远离海外战争,而如今他在一次活动上坦言,他打造了"世界上最强大的军队",并承认"我们使用它的频率比我预想的要多一些,但没关系"。</p><h2 style=\"text-align: left;\">经济代价:油价飙升,中期选举承压</h2><p style=\"text-align: left;\">布伦特原油价格本周突破每桶100美元,政治敏感度极高的美国汽油价格随之上涨,这对共和党在11月中期选举中的表现构成直接威胁。共和党盟友原本希望冲突能在此时趋于平息,以减轻其对选情的冲击。</p><p style=\"text-align: left;\"><strong>民调数据令共和党阵营忧虑。</strong>爱默生学院民调显示,民主党在通用选票测试中领先共和党11个百分点;福克斯新闻民调则显示,民主党在经济议题处理上领先9个百分点,而经济历来是特朗普的核心优势所在。特朗普本人也表示,若民主党夺回众议院,他预计将再度面临弹劾。</p><p style=\"text-align: left;\">与此同时,<strong>战争的资金来源问题悬而未决。</strong>一项补充拨款方案在国会几乎陷入停滞,迫使政府四处挪用资金,进一步加剧了行政当局与国会之间的紧张关系。报道称,特朗普几乎没有为该拨款方案积极拉票,而在能源价格高企的背景下,议员们也缺乏支持该方案的政治动力。</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>特朗普下令暂停空袭伊朗</title>\n<style 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margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n特朗普下令暂停空袭伊朗\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1084101182\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">华尔街见闻 </p>\n<p class=\"h-time\">2026-07-26 08:53</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p style=\"text-align: left;\">美国总统特朗普在持续13天的空袭后突然踩下刹车,分析称,这一决定折射出他在这场旷日持久冲突中日益深重的战略困境。</p><p style=\"text-align: left;\">据央视新闻报道,当地时间7月25日,特朗普下令美军当天不对伊朗发动新的空袭,结束了此前连续近两周的每日打击行动。<strong>两名知情人士表示,此举一方面是为给外交谈判留出空间,另一方面是因为特朗普认为,在不重启大规模军事行动的情况下,现有空袭已基本达到效果上限。</strong>与此同时,阿曼代表团已抵达德黑兰,就重启霍尔木兹海峡通航展开谈判,<strong>知情人士称双方有望在本周末达成协议。</strong></p><p style=\"text-align: left;\">然而,<strong>这场冲突已远超特朗普最初的预期。</strong>这场美国与以色列于今年2月底联合发起的战争,如今已进入第五个月,布伦特原油价格本周四盘中突破每桶100美元,美国汽油价格随之攀升,令共和党在11月中期选举中的前景愈发黯淡。据媒体报道,民调显示,<strong>民主党在通用选票测试中已领先共和党11个百分点。</strong></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7c9fdd36d5ceee3c373e86e2627dbda8\" data-align=\"center\" tg-width=\"1024\" tg-height=\"651\"/><span></span></p><p style=\"text-align: left;\"></p><h2 style=\"text-align: left;\">暂停空袭:外交窗口还是战术调整</h2><p style=\"text-align: left;\">据央视新闻,特朗普此前每天都会批准军方提交的对伊朗打击方案,但25日收到新的作战计划后,并未批准执行,而是直接下令当天暂停空袭。<strong>目前尚不清楚这一决定是一天的临时安排,还是意味着军事行动将进入更长时间的暂停阶段。</strong></p><p style=\"text-align: left;\">美军仍在制定恢复大规模军事行动的预案,一旦特朗普下令,可在短时间内恢复打击。特朗普24日在白宫接受采访时表示,美国保留继续空袭乃至进一步升级的选项,"可以摧毁他们拥有的一切",但他同时强调,与伊朗"达成协议才是更聪明的策略"。他表示,美伊双方目前"正在进行对话",伊朗方面"一天比一天更认真"。</p><p style=\"text-align: left;\"><strong>暂停空袭的决定与外交进展几乎同步发生。</strong>央视新闻指出,据悉,特朗普下令暂停空袭前数小时,阿曼代表团已抵达德黑兰,就重启霍尔木兹海峡通航的新安排展开谈判。两<strong>名了解谈判情况的地区消息人士称,谈判已取得进展,阿曼与伊朗有望在本周末达成协议,届时特朗普将决定是否接受这一方案。</strong></p><p style=\"text-align: left;\">然而,<strong>谈判能否取得实质突破仍存在高度不确定性。</strong>据报道,也门胡塞武装对红海航运的袭击已开辟新的冲突战线,令霍尔木兹海峡替代航线的安全性受到质疑。分析人士Michael Knights表示:</p><blockquote><p style=\"text-align: left;\">"我认为我们正在进入一段美国与伊朗威胁网络之间持续升级的时期,双方都有能力将冲突维持数月之久。"</p></blockquote><p style=\"text-align: left;\">据悉,特朗普过去两周内提出了一系列解锁僵局的方案,包括宣布对霍尔木兹海峡过境船只征收20%通行费,随后在海湾盟友压力下撤回,以及提出动用没收的伊朗资金赔偿袭击损失,但均未提供具体细节。<strong>这些举措在外界看来更像是在寻找出路,而非展示战略定力。</strong></p><h2 style=\"text-align: left;\">战略困境:无路可退,无路可进</h2><p style=\"text-align: left;\">据媒体报道,卡内基国际和平基金会高级研究员Aaron David Miller将<strong>特朗普当前的处境描述为"一份全是坏选项的菜单"</strong>。撤退将带来政治上的难堪,升级则风险难以掌控,而此前由副总统万斯(<a href=\"https://laohu8.com/S/JD\">JD</a> Vance)、特使Steve Witkoff和女婿库什纳(Jared Kushner)主导的谈判,最终只换来一份脆弱的谅解备忘录。"如果你问我出路在哪里,我会告诉你,截至目前,我看不到,"Aaron David Miller说。</p><p style=\"text-align: left;\"><strong>这场冲突已成为特朗普执政的标志性困境。</strong>他在几乎所有公开场合都会提及这场战争,并频繁在社交媒体上发帖。特朗普曾在2024年竞选时承诺让美国远离海外战争,而如今他在一次活动上坦言,他打造了"世界上最强大的军队",并承认"我们使用它的频率比我预想的要多一些,但没关系"。</p><h2 style=\"text-align: left;\">经济代价:油价飙升,中期选举承压</h2><p style=\"text-align: left;\">布伦特原油价格本周突破每桶100美元,政治敏感度极高的美国汽油价格随之上涨,这对共和党在11月中期选举中的表现构成直接威胁。共和党盟友原本希望冲突能在此时趋于平息,以减轻其对选情的冲击。</p><p style=\"text-align: left;\"><strong>民调数据令共和党阵营忧虑。</strong>爱默生学院民调显示,民主党在通用选票测试中领先共和党11个百分点;福克斯新闻民调则显示,民主党在经济议题处理上领先9个百分点,而经济历来是特朗普的核心优势所在。特朗普本人也表示,若民主党夺回众议院,他预计将再度面临弹劾。</p><p style=\"text-align: left;\">与此同时,<strong>战争的资金来源问题悬而未决。</strong>一项补充拨款方案在国会几乎陷入停滞,迫使政府四处挪用资金,进一步加剧了行政当局与国会之间的紧张关系。报道称,特朗普几乎没有为该拨款方案积极拉票,而在能源价格高企的背景下,议员们也缺乏支持该方案的政治动力。</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/4f1b28e69005d604db9995a21d898186","relate_stocks":{"VOO":"Vanguard标普500ETF","SPYH":"Neos S&P 500 Hedged Equity Income ETF","DOG":"道指ETF-ProShares做空","SPXS":"三倍做空标普500ETF-Direxion","IVV":"标普500ETF-iShares","DIA":"道琼斯ETF","SPYM":"投资组合标普500指数ETF-SPDR","SPUU":"Direxion Daily S&P 500 Bull 2x Shares","HIBL":"Direxion Daily S&P 500 High Beta Bull 3X Shares","SPXU":"三倍做空标普500ETF-ProShares","SPYQ":"2倍做多SPY Quarterly ETF-Tradr","SPDN":"Direxion Daily S&P 500 Bear 1X Shares","DDM":"2倍做多道指ETF-ProShares","SPY":"标普500ETF","SPYU":"MAX S&P 500 4X Leveraged ETN","SDOW":"三倍做空道指30ETF-ProShares","UDOW":"三倍做多道指30ETF-ProShares","UPRO":"三倍做多标普500ETF-ProShares","SSO":"2倍做多标普500ETF-ProShares","SMAX":"ISHARES LARGE CAP MAX BUFFER SEP ETF",".DJI":"道琼斯","SDS":"两倍做空标普500 ETF-ProShares","YSPY":"GraniteShares YieldBOOST SPY ETF",".IXIC":"NASDAQ Composite","DXD":"两倍做空道琼30指数ETF-ProShares","DMAX":"ISHARES LARGE CAP MAX BUFFER DEC ETF","SH":"做空标普500-Proshares","SPXL":"三倍做多标普500ETF-Direxion",".SPX":"S&P 500 Index","MMAX":"iShares Large Cap Max Buffer Mar ETF"},"source_url":"https://wallstreetcn.com/articles/3777934","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2654057097","content_text":"美国总统特朗普在持续13天的空袭后突然踩下刹车,分析称,这一决定折射出他在这场旷日持久冲突中日益深重的战略困境。据央视新闻报道,当地时间7月25日,特朗普下令美军当天不对伊朗发动新的空袭,结束了此前连续近两周的每日打击行动。两名知情人士表示,此举一方面是为给外交谈判留出空间,另一方面是因为特朗普认为,在不重启大规模军事行动的情况下,现有空袭已基本达到效果上限。与此同时,阿曼代表团已抵达德黑兰,就重启霍尔木兹海峡通航展开谈判,知情人士称双方有望在本周末达成协议。然而,这场冲突已远超特朗普最初的预期。这场美国与以色列于今年2月底联合发起的战争,如今已进入第五个月,布伦特原油价格本周四盘中突破每桶100美元,美国汽油价格随之攀升,令共和党在11月中期选举中的前景愈发黯淡。据媒体报道,民调显示,民主党在通用选票测试中已领先共和党11个百分点。暂停空袭:外交窗口还是战术调整据央视新闻,特朗普此前每天都会批准军方提交的对伊朗打击方案,但25日收到新的作战计划后,并未批准执行,而是直接下令当天暂停空袭。目前尚不清楚这一决定是一天的临时安排,还是意味着军事行动将进入更长时间的暂停阶段。美军仍在制定恢复大规模军事行动的预案,一旦特朗普下令,可在短时间内恢复打击。特朗普24日在白宫接受采访时表示,美国保留继续空袭乃至进一步升级的选项,\"可以摧毁他们拥有的一切\",但他同时强调,与伊朗\"达成协议才是更聪明的策略\"。他表示,美伊双方目前\"正在进行对话\",伊朗方面\"一天比一天更认真\"。暂停空袭的决定与外交进展几乎同步发生。央视新闻指出,据悉,特朗普下令暂停空袭前数小时,阿曼代表团已抵达德黑兰,就重启霍尔木兹海峡通航的新安排展开谈判。两名了解谈判情况的地区消息人士称,谈判已取得进展,阿曼与伊朗有望在本周末达成协议,届时特朗普将决定是否接受这一方案。然而,谈判能否取得实质突破仍存在高度不确定性。据报道,也门胡塞武装对红海航运的袭击已开辟新的冲突战线,令霍尔木兹海峡替代航线的安全性受到质疑。分析人士Michael Knights表示:\"我认为我们正在进入一段美国与伊朗威胁网络之间持续升级的时期,双方都有能力将冲突维持数月之久。\"据悉,特朗普过去两周内提出了一系列解锁僵局的方案,包括宣布对霍尔木兹海峡过境船只征收20%通行费,随后在海湾盟友压力下撤回,以及提出动用没收的伊朗资金赔偿袭击损失,但均未提供具体细节。这些举措在外界看来更像是在寻找出路,而非展示战略定力。战略困境:无路可退,无路可进据媒体报道,卡内基国际和平基金会高级研究员Aaron David Miller将特朗普当前的处境描述为\"一份全是坏选项的菜单\"。撤退将带来政治上的难堪,升级则风险难以掌控,而此前由副总统万斯(JD Vance)、特使Steve Witkoff和女婿库什纳(Jared Kushner)主导的谈判,最终只换来一份脆弱的谅解备忘录。\"如果你问我出路在哪里,我会告诉你,截至目前,我看不到,\"Aaron David Miller说。这场冲突已成为特朗普执政的标志性困境。他在几乎所有公开场合都会提及这场战争,并频繁在社交媒体上发帖。特朗普曾在2024年竞选时承诺让美国远离海外战争,而如今他在一次活动上坦言,他打造了\"世界上最强大的军队\",并承认\"我们使用它的频率比我预想的要多一些,但没关系\"。经济代价:油价飙升,中期选举承压布伦特原油价格本周突破每桶100美元,政治敏感度极高的美国汽油价格随之上涨,这对共和党在11月中期选举中的表现构成直接威胁。共和党盟友原本希望冲突能在此时趋于平息,以减轻其对选情的冲击。民调数据令共和党阵营忧虑。爱默生学院民调显示,民主党在通用选票测试中领先共和党11个百分点;福克斯新闻民调则显示,民主党在经济议题处理上领先9个百分点,而经济历来是特朗普的核心优势所在。特朗普本人也表示,若民主党夺回众议院,他预计将再度面临弹劾。与此同时,战争的资金来源问题悬而未决。一项补充拨款方案在国会几乎陷入停滞,迫使政府四处挪用资金,进一步加剧了行政当局与国会之间的紧张关系。报道称,特朗普几乎没有为该拨款方案积极拉票,而在能源价格高企的背景下,议员们也缺乏支持该方案的政治动力。","news_type":1,"symbols_score_info":{"SDS":0.6,"BZmain":2,"NQmain":2,"DDM":0.6,"VOO":0.6,"SMAX":0.6,"DXD":0.6,".DJI":2,"SPYU":0.6,"SPXL":0.6,"SPXS":0.6,".IXIC":2,"DMAX":0.6,"DOG":0.6,"HIBL":0.6,".SPX":2,"IVV":0.6,"YMmain":2,"SDOW":0.6,"SPUU":0.6,"SPYM":0.6,"SPDN":0.6,"SPYH":0.6,"MMAX":0.6,"SPYQ":0.6,"SPXU":0.6,"UDOW":0.6,"SH":0.6,"UPRO":0.6,"ESmain":2,"CLmain":2,"YSPY":0.6,"SPY":0.6,"DIA":0.6,"SSO":0.6}},"isVote":1,"tweetType":1,"viewCount":270,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":583876797222944,"gmtCreate":1783579559513,"gmtModify":1783579561736,"author":{"id":"4228385961123602","authorId":"4228385961123602","name":"HAKUBUN","avatar":"https://static.tigerbbs.com/97e39f638d455bd5828c866ff7fee9d7","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4228385961123602","authorIdStr":"4228385961123602"},"themes":[],"title":"","htmlText":"好好的2026年,一开年就让伊朗这帮神棍给搅黄了。这几条蛆不灭掉,世界永不安宁","listText":"好好的2026年,一开年就让伊朗这帮神棍给搅黄了。这几条蛆不灭掉,世界永不安宁","text":"好好的2026年,一开年就让伊朗这帮神棍给搅黄了。这几条蛆不灭掉,世界永不安宁","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/583876797222944","repostId":"1143632352","repostType":2,"repost":{"id":"1143632352","kind":"news","weMediaInfo":{"introduction":"港股挖掘机将每天为您推送最具价值的港股、美股、A股投资资讯!第一时间把握全球政策动向,先人一步了解主流资金流向,监测主力行踪,解读公司公告,追踪活跃个股,让您畅享投资财富盛宴!","home_visible":1,"media_name":"智通财经APP","id":"12","head_image":"https://static.tigerbbs.com/361f7f1ca0d64e919035653d64c723ab"},"pubTimestamp":1783548532,"share":"https://www.laohunote.com/m/news/1143632352?lang=zh_CN&edition=full","pubTime":"2026-07-09 06:08","market":"sh","language":"zh","title":"美方对伊朗发动新一轮军事打击,特朗普称停火协议“已经结束”","url":"https://stock-news.laohu8.com/highlight/detail?id=1143632352","media":"智通财经APP","summary":"当地时间7月8日获悉,一名美国官员表示,美国军方正在对伊朗发动最新一轮打击。美军中央司令部随后证实已开始对伊朗实施更多打击。有消息称,本轮打击预计将比7日实施的打击规模更大。当天早些时候,美国总统特朗普在土耳其参加北约峰会期间说,他对伊朗很不高兴,美军“今晚可能”再次狠狠打击伊朗,还可能会对伊朗重新实施海上封锁。当地时间8日深夜,伊朗锡里克、阿巴斯港和恰巴哈尔港等地传出爆炸声。美军中央司令部7日称,美军当天对伊朗发动打击,击中超过80个目标,包括伊朗的防空系统、指挥控制网络、海岸雷达站点、反舰导弹能力,以及超过60艘伊朗伊斯兰革命卫队小型快艇。","content":"<html><head></head><body><p>7月9日,美国与伊朗紧张局势再度升级。美国中央司令部当地时间周三宣布,在伊朗袭击霍尔木兹海峡及附近海域商船后,美军已对伊朗发动新一轮军事打击。这是6月中旬美伊签署谅解备忘录以来的至少第四轮打击。目前来看,美方及伊方此前的报复行动规模和强度,都未达到冲突初期的水平。与此同时,美国总统特朗普表示,美伊上月达成的停火协议“已经结束”,并暗示不再寻求与伊朗达成新的协议。</p><p style=\"text-align: justify;\">美国中央司令部在社交媒体X平台表示,美国此次行动旨在追究伊朗近期针对国际商业航运及民用船员发动“无端攻击”的责任,并强调美国将维护这一重要国际航道的航行安全。</p><p style=\"text-align: justify;\">此前,美方称伊朗周二袭击了霍尔木兹海峡及附近海域的三艘商船。事件发生后,美国宣布取消作为停火协议一部分的伊朗石油出口制裁豁免,并对伊朗军事基础设施及快艇等目标实施数十次报复性空袭。</p><p style=\"text-align: justify;\">特朗普当天在土耳其安卡拉出席北约峰会期间表示,由于霍尔木兹海峡冲突再次升级,美国与伊朗之间的停火协议已经失效。“就我而言,停火已经结束了。”特朗普表示,“我不确定自己是否还想与他们达成协议。我们可以继续玩这种游戏,但我认为,是时候把事情彻底解决了。”</p><p style=\"text-align: justify;\">当被问及为何对伊朗态度发生明显转变时,特朗普表示,一个月前他曾称赞伊朗领导层“聪明”“理性”“容易打交道”,但过去一两周伊朗方面的行为改变了他的看法。</p><p style=\"text-align: justify;\">霍尔木兹海峡是全球最重要的能源运输通道之一,也是本轮美伊冲突的核心焦点。此前,伊朗曾威胁封锁霍尔木兹海峡,并计划向过境船只征收通行费用,以此作为对抗美国军事压力的重要筹码。作为回应,美国一度对伊朗相关港口实施海上封锁。</p><p style=\"text-align: justify;\">根据双方上月达成的临时停火协议,美国同意解除海上封锁,而伊朗则承诺尽最大努力保障海湾地区商业船只安全通行。</p><p style=\"text-align: justify;\">不过,伊朗外交部发言人巴加埃周三在社交平台发文称,美国已违反协议相关条款。他表示,协议明确伊朗负责制定霍尔木兹海峡船舶通行安排,而美国的单边行动及针对伊朗的军事打击,已破坏协议框架。巴加埃表示,伊朗将坚定维护国家利益和主权,不会接受外部压力。</p><p style=\"text-align: justify;\">美伊停火协议破裂意味着中东局势再度进入高度紧张状态,霍尔木兹海峡这一全球能源运输要道面临新的安全风险,未来国际原油供应及全球金融市场波动或再次受到影响。</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>美方对伊朗发动新一轮军事打击,特朗普称停火协议“已经结束”</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; 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width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n美方对伊朗发动新一轮军事打击,特朗普称停火协议“已经结束”\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/12\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/361f7f1ca0d64e919035653d64c723ab);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">智通财经APP </p>\n<p class=\"h-time\">2026-07-09 06:08</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>7月9日,美国与伊朗紧张局势再度升级。美国中央司令部当地时间周三宣布,在伊朗袭击霍尔木兹海峡及附近海域商船后,美军已对伊朗发动新一轮军事打击。这是6月中旬美伊签署谅解备忘录以来的至少第四轮打击。目前来看,美方及伊方此前的报复行动规模和强度,都未达到冲突初期的水平。与此同时,美国总统特朗普表示,美伊上月达成的停火协议“已经结束”,并暗示不再寻求与伊朗达成新的协议。</p><p style=\"text-align: justify;\">美国中央司令部在社交媒体X平台表示,美国此次行动旨在追究伊朗近期针对国际商业航运及民用船员发动“无端攻击”的责任,并强调美国将维护这一重要国际航道的航行安全。</p><p style=\"text-align: justify;\">此前,美方称伊朗周二袭击了霍尔木兹海峡及附近海域的三艘商船。事件发生后,美国宣布取消作为停火协议一部分的伊朗石油出口制裁豁免,并对伊朗军事基础设施及快艇等目标实施数十次报复性空袭。</p><p style=\"text-align: justify;\">特朗普当天在土耳其安卡拉出席北约峰会期间表示,由于霍尔木兹海峡冲突再次升级,美国与伊朗之间的停火协议已经失效。“就我而言,停火已经结束了。”特朗普表示,“我不确定自己是否还想与他们达成协议。我们可以继续玩这种游戏,但我认为,是时候把事情彻底解决了。”</p><p style=\"text-align: justify;\">当被问及为何对伊朗态度发生明显转变时,特朗普表示,一个月前他曾称赞伊朗领导层“聪明”“理性”“容易打交道”,但过去一两周伊朗方面的行为改变了他的看法。</p><p style=\"text-align: justify;\">霍尔木兹海峡是全球最重要的能源运输通道之一,也是本轮美伊冲突的核心焦点。此前,伊朗曾威胁封锁霍尔木兹海峡,并计划向过境船只征收通行费用,以此作为对抗美国军事压力的重要筹码。作为回应,美国一度对伊朗相关港口实施海上封锁。</p><p style=\"text-align: justify;\">根据双方上月达成的临时停火协议,美国同意解除海上封锁,而伊朗则承诺尽最大努力保障海湾地区商业船只安全通行。</p><p style=\"text-align: justify;\">不过,伊朗外交部发言人巴加埃周三在社交平台发文称,美国已违反协议相关条款。他表示,协议明确伊朗负责制定霍尔木兹海峡船舶通行安排,而美国的单边行动及针对伊朗的军事打击,已破坏协议框架。巴加埃表示,伊朗将坚定维护国家利益和主权,不会接受外部压力。</p><p style=\"text-align: justify;\">美伊停火协议破裂意味着中东局势再度进入高度紧张状态,霍尔木兹海峡这一全球能源运输要道面临新的安全风险,未来国际原油供应及全球金融市场波动或再次受到影响。</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/cf8deb964fe83a788e7ae02a962af884","relate_stocks":{},"source_url":"https://ysxw.cctv.cn/article.html?toc_style_id=feeds_default&item_id=2022740237904529834&channelId=1119","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1143632352","content_text":"7月9日,美国与伊朗紧张局势再度升级。美国中央司令部当地时间周三宣布,在伊朗袭击霍尔木兹海峡及附近海域商船后,美军已对伊朗发动新一轮军事打击。这是6月中旬美伊签署谅解备忘录以来的至少第四轮打击。目前来看,美方及伊方此前的报复行动规模和强度,都未达到冲突初期的水平。与此同时,美国总统特朗普表示,美伊上月达成的停火协议“已经结束”,并暗示不再寻求与伊朗达成新的协议。美国中央司令部在社交媒体X平台表示,美国此次行动旨在追究伊朗近期针对国际商业航运及民用船员发动“无端攻击”的责任,并强调美国将维护这一重要国际航道的航行安全。此前,美方称伊朗周二袭击了霍尔木兹海峡及附近海域的三艘商船。事件发生后,美国宣布取消作为停火协议一部分的伊朗石油出口制裁豁免,并对伊朗军事基础设施及快艇等目标实施数十次报复性空袭。特朗普当天在土耳其安卡拉出席北约峰会期间表示,由于霍尔木兹海峡冲突再次升级,美国与伊朗之间的停火协议已经失效。“就我而言,停火已经结束了。”特朗普表示,“我不确定自己是否还想与他们达成协议。我们可以继续玩这种游戏,但我认为,是时候把事情彻底解决了。”当被问及为何对伊朗态度发生明显转变时,特朗普表示,一个月前他曾称赞伊朗领导层“聪明”“理性”“容易打交道”,但过去一两周伊朗方面的行为改变了他的看法。霍尔木兹海峡是全球最重要的能源运输通道之一,也是本轮美伊冲突的核心焦点。此前,伊朗曾威胁封锁霍尔木兹海峡,并计划向过境船只征收通行费用,以此作为对抗美国军事压力的重要筹码。作为回应,美国一度对伊朗相关港口实施海上封锁。根据双方上月达成的临时停火协议,美国同意解除海上封锁,而伊朗则承诺尽最大努力保障海湾地区商业船只安全通行。不过,伊朗外交部发言人巴加埃周三在社交平台发文称,美国已违反协议相关条款。他表示,协议明确伊朗负责制定霍尔木兹海峡船舶通行安排,而美国的单边行动及针对伊朗的军事打击,已破坏协议框架。巴加埃表示,伊朗将坚定维护国家利益和主权,不会接受外部压力。美伊停火协议破裂意味着中东局势再度进入高度紧张状态,霍尔木兹海峡这一全球能源运输要道面临新的安全风险,未来国际原油供应及全球金融市场波动或再次受到影响。","news_type":1,"symbols_score_info":{"CLmain":2,"BZmain":2}},"isVote":1,"tweetType":1,"viewCount":392,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":571977189257512,"gmtCreate":1780665187301,"gmtModify":1780665727874,"author":{"id":"4228385961123602","authorId":"4228385961123602","name":"HAKUBUN","avatar":"https://static.tigerbbs.com/97e39f638d455bd5828c866ff7fee9d7","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4228385961123602","authorIdStr":"4228385961123602"},"themes":[],"title":"","htmlText":"伊朗海军用什么神器能够驱离美国驱逐舰?","listText":"伊朗海军用什么神器能够驱离美国驱逐舰?","text":"伊朗海军用什么神器能够驱离美国驱逐舰?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/571977189257512","repostId":"1189454592","repostType":4,"repost":{"id":"1189454592","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据,旨在帮助投资者理解世界,做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1780660528,"share":"https://www.laohunote.com/m/news/1189454592?lang=zh_CN&edition=full","pubTime":"2026-06-05 19:55","market":"fut","language":"zh","title":"伊朗海军称对美国驱逐舰开火,将其驱离阿曼湾","url":"https://stock-news.laohu8.com/highlight/detail?id=1189454592","media":"老虎资讯综合","summary":"向两艘美军驱逐舰警告射击。","content":"<html><head></head><body><p style=\"text-align: left;\"><span>据伊朗媒体5日报道,伊朗海军向两艘美军驱逐舰警告射击,将其驱离阿曼湾。</span>(新华社)</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>伊朗海军称对美国驱逐舰开火,将其驱离阿曼湾</title>\n<style 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margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n伊朗海军称对美国驱逐舰开火,将其驱离阿曼湾\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time\">2026-06-05 19:55</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p style=\"text-align: left;\"><span>据伊朗媒体5日报道,伊朗海军向两艘美军驱逐舰警告射击,将其驱离阿曼湾。</span>(新华社)</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://community-static.tradeup.com/news/b7094c93784724bf0b95c86f2d6ff95a","relate_stocks":{},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1189454592","content_text":"据伊朗媒体5日报道,伊朗海军向两艘美军驱逐舰警告射击,将其驱离阿曼湾。(新华社)","news_type":1,"symbols_score_info":{"CLmain":2,"BZmain":2}},"isVote":1,"tweetType":1,"viewCount":614,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":591029967709440,"gmtCreate":1785296132156,"gmtModify":1785296134260,"author":{"id":"4228385961123602","authorId":"4228385961123602","name":"HAKUBUN","avatar":"https://static.tigerbbs.com/97e39f638d455bd5828c866ff7fee9d7","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4228385961123602","authorIdStr":"4228385961123602"},"themes":[],"title":"","htmlText":"这种对利率的未知恐惧,已经起到一定程度的加息作用了。","listText":"这种对利率的未知恐惧,已经起到一定程度的加息作用了。","text":"这种对利率的未知恐惧,已经起到一定程度的加息作用了。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/591029967709440","repostId":"1101404339","repostType":2,"repost":{"id":"1101404339","kind":"news","weMediaInfo":{"introduction":"港股挖掘机将每天为您推送最具价值的港股、美股、A股投资资讯!第一时间把握全球政策动向,先人一步了解主流资金流向,监测主力行踪,解读公司公告,追踪活跃个股,让您畅享投资财富盛宴!","home_visible":1,"media_name":"智通财经APP","id":"12","head_image":"https://static.tigerbbs.com/361f7f1ca0d64e919035653d64c723ab"},"pubTimestamp":1785288398,"share":"https://www.laohunote.com/m/news/1101404339?lang=zh_CN&edition=full","pubTime":"2026-07-29 09:26","market":"us","language":"zh","title":"警惕美联储今夜“突袭加息”!多家华尔街机构拉响警报,交易员历史性“焦虑对冲”","url":"https://stock-news.laohu8.com/highlight/detail?id=1101404339","media":"智通财经APP","summary":"美联储即将公布政策决定,债券交易员们情绪紧张,尽管大多数人预测利率不会改变,但一些专家预计利率将会上调。自5月22日上任以来,沃什彻底颠覆了美联储的沟通范式。他成立多个工作组重新评估美联储的沟通机制、通胀框架和资产负债表管理。Flight认为市场再次低估了美联储政策立场转向鹰派的程度,“本周加息将明确结束前瞻性指引时代”。机构对76位经济学家的调查显示,所有受访者均预计美联储将维持利率不变。","content":"<html><head></head><body><blockquote><p>美联储即将公布政策决定,债券交易员们情绪紧张,尽管大多数人预测利率不会改变,但一些专家预计利率将会上调。</p></blockquote><p style=\"text-align: justify;\">美联储主席凯文·沃什将于北京时间周四凌晨2点公布他上任以来的第二次利率决议时,全球资本市场正屏息凝视一个前所未有的悬念。就在一个月前,市场还近乎笃定7月将按兵不动;而此刻,CME FedWatch工具显示加息25个基点的概率已从一周前的13%飙升至30%。花旗直言,这是“自2024年9月以来分歧最大的时刻” 。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e4a0a098da5accee3405532f61ed076a\" alt=\"\" title=\"\" tg-width=\"649\" tg-height=\"409\"/></p><p style=\"text-align: justify;\"><strong>更令人紧张的是,联邦基金利率期货未平仓合约在上周五达到909,714份后,周一进一步飙升至967,136份,刷新历史纪录。“以往到了会前这个时候,市场对政策结果的预期通常已高度一致”,但这次完全不同。BMO Capital Markets数据显示,自2015年以来,交易员在美联储决议前一天对最终利率决定的预测平均误差仅为2.4个基点——而这次,误差可能以“码”来计算。</strong></p><h2 id=\"id_3167133643\">从“10%”到“30%”:一场被地缘政治逆转的通胀叙事</h2><p style=\"text-align: justify;\">7月14日,美国劳工部公布6月CPI数据:CPI同比上涨3.5%,较5月的4.2%显著回落,环比下降0.4%,创2020年4月以来最大单月降幅;核心CPI环比持平,为2021年1月以来最小增幅。这份数据一度让市场相信,美联储可以继续按兵不动,通胀降温的信号一度将市场对7月加息的押注压低至约10%。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/70621edec4c2bd8da0a3a647450c6791\" alt=\"\" title=\"\" tg-width=\"634\" tg-height=\"422\"/></p><p style=\"text-align: justify;\">然而,降温的只是数据,而非趋势。美伊脆弱的停火协议破裂后,中东局势再度升级。7月24日,布伦特原油盘中突破每桶100美元,自6月美联储会议以来累计涨幅已达25%。油价上涨迅速传导至汽油和柴油价格,令消费者和美国工业的成本双双承压。与此同时,特朗普政府于7月24日宣布对60个国家征收10%至12.5%的新关税,作为最高法院此前否决“解放日”关税后的替代方案。此外,AI投资持续强劲,推动相关需求增长。三重因素叠加,扭转了市场对通胀降温的判断。</p><p style=\"text-align: justify;\">PGIM首席美国经济学家Robert Sockin将本周会议形容为“几乎是五五开”。Pantheon Macroeconomics首席经济学家Neil Dutta更直言,7月加息可以让美联储获得“未来的灵活性”,避免在9月被逼入墙角。“你必须在共识中寻找机会,我觉得这次可能就是这样的时刻,”Dutta在7月22日的报告中写道。</p><h2 id=\"id_133539095\">沃什的“沉默革命”:不提前任之路,不提供任何指引</h2><p style=\"text-align: justify;\">这场会议的最大变量,来自沃什本人。自5月22日上任以来,沃什彻底颠覆了美联储的沟通范式。他明确承诺放弃“前瞻性指引”——即不再提前向市场暗示利率路径。</p><p style=\"text-align: justify;\">在7月15日的国会听证会上,他拒绝就未来几个月的利率走势提供任何具体见解。他成立多个工作组重新评估美联储的沟通机制、通胀框架和资产负债表管理。正如Hartford Funds固定收益投资专家Joe Boyle所言:“沃什仍然是个难以捉摸的人物,他一直坚称自己对前瞻性指引不感兴趣。”</p><p style=\"text-align: justify;\">这一做法的后果正在显现——市场失去了过去十几年习以为常的“政策指南针”。R.J. O'Brien衍生品经纪人Alex Manzara指出:“过去,美联储通常不会令市场意外。临近会议时,联邦基金期货隐含利率与最终政策利率通常不会相差超过两三个基点。现在合约中突然出现了不确定性,而这带来了交易需求。”</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3fdc49cef2c40505b17941c946a0a7d4\" alt=\"\" title=\"\" tg-width=\"562\" tg-height=\"432\"/></p><p style=\"text-align: justify;\">Bianco Research总裁Jim Bianco表示 :“没有前瞻指引,意味着我们将频繁看到20%、30%、40%的概率分布”。高盛指出,投资者认为7月会议结果存在“异常大的不确定性”,原因正是美联储内部意见分歧、沃什本人立场尚不明确。</p><h2 id=\"id_323543074\">政治暗流:沃什与特朗普的微妙平衡</h2><p style=\"text-align: justify;\">这场政策博弈的背后,还隐藏着复杂的政治计算。特朗普已公开向沃什施压要求降息,称“利率应该降低”,“我们应该拥有全球最低的利率”。债券市场资深人士Harley Bassman在报告中直言,美联储应该“撕掉创可贴”,将利率提高50个基点。“加息50个基点表明市场出现了一位新警长,他并不受总统的约束”——此举既能获得抗通胀信誉,又能抵御特朗普总统降低借贷成本的压力。</p><p style=\"text-align: justify;\">SMBC日兴证券美国首席经济学家Joseph Lavorgna指出,若等到9月甚至10月才行动——第一次加息正好在中期选举之前——“那会是什么样子?他不如现在就行动”。</p><p style=\"text-align: justify;\">沃什面临的考验在于:他在国会誓言“零容忍”通胀,却迟迟不愿透露具体路径。正如贝莱德此前所指出的,沃什“认识到信誉仍然是央行最强大的政策工具”——但“这些话最终需要用行动来支撑”。</p><h2 id=\"id_2680896766\">鹰派集结:至少两张反对票在途,城堡证券押注“突袭加息”</h2><p style=\"text-align: justify;\">美联储内部的分歧同样罕见。达拉斯联储主席洛根近期明确呼吁“略微更高的利率”,认为通胀仍明显高于2%目标。克利夫兰联储主席哈马克也警告通胀压力过高。两人均拥有2026年FOMC投票权,曾在4月投下反对票,本周极可能再次反对。<strong>高盛预计至少一位委员将投赞成加息的异议票;丹斯克银行预计2至4名委员支持加息;而花旗则押注按兵不动。不过,花旗预计,若反对票超过两张,将被市场解读为更强烈的鹰派信号。机构预测本周至少会有两张反对票。</strong></p><p style=\"text-align: justify;\"><strong>更激进的信号来自华尔街。城堡证券宏观策略主管Frank Flight出人意料地改变基本预期,转而支持本周加息。</strong>他在报告中写道,加息25个基点将强化沃什恢复价格稳定的承诺,同时表明政策制定者不再依赖提前向市场“明示”每一次政策行动。Flight认为市场再次低估了美联储政策立场转向鹰派的程度,“本周加息将明确结束前瞻性指引时代”。</p><p style=\"text-align: justify;\"><strong>Wrightson ICAP首席经济学家Lou Crandall表示,美联储没有理由不加息。</strong>PGIM全球债券主管兼首席投资策略师Robert Tipp则表示,市场可能低估了周三加息的可能性。Tipp说:“他确实为加息做好了准备。现在推迟决定会增加九月份加息50个基点的可能性。”</p><p style=\"text-align: justify;\">然而,分析指出,沃什本人可能并不支持现在加息。他在7月15日的国会证词中将能源价格冲击描述为“特定价格发生的特定冲击,我们无法控制”。加息将“预判”他刚成立的工作组的结论。此外,6月CPI已出现六年来首次下降,就业增长放缓,为按兵不动提供了理由。机构对76位经济学家的调查显示,所有受访者均预计美联储将维持利率不变。</p><h2 id=\"id_3797664327\">市场屏息:无论结果如何,波动都将剧烈</h2><p style=\"text-align: justify;\">瑞银首席美国经济学家Jonathan Pingle坦言,他20年来从未像现在这样对美联储即将做出的利率决定感到如此不确定,上次感到不确定还要追溯到本·伯南克担任美联储主席的时候;<strong>他指出,沃什缺乏过往历史以及美联储官员近期的分歧进一步加剧了前景的不确定性,但他不排除沃什最终投下决定性一票的可能性。</strong>美国银行美国利率策略主管Mark Cabana的总结更为精辟:“投资者仍在试图了解美联储在沃什担任主席期间将如何运作。”</p><p style=\"text-align: justify;\"><strong>不确定性正在驱动前所未有的对冲需求。8月联邦基金期货合约的未平仓合约量在7月27日达到967,136份,刷新历史纪录。</strong>花旗交易团队已买入7月FOMC合约——该头寸将在央行维持利率不变时获利,其短期利率交易全球负责人Akshay Singal表示,“沃什一直明确表示希望市场关注数据,而当前数据尚不足以支持加息”。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/365fa0bfcd36b7feabaf2feca5d4e12e\" alt=\"\" title=\"\" tg-width=\"637\" tg-height=\"374\"/></p><p style=\"text-align: justify;\">宏观策略师Michael Ball指出:“虽然市场正与一位可能在不预告意图的情况下采取行动的美联储主席踏入未知领域,但这样的举措最终可能被投资者接受为适当政策。那将在短期内支撑风险资产”。</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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}\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n警惕美联储今夜“突袭加息”!多家华尔街机构拉响警报,交易员历史性“焦虑对冲”\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/12\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/361f7f1ca0d64e919035653d64c723ab);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">智通财经APP </p>\n<p class=\"h-time\">2026-07-29 09:26</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><blockquote><p>美联储即将公布政策决定,债券交易员们情绪紧张,尽管大多数人预测利率不会改变,但一些专家预计利率将会上调。</p></blockquote><p style=\"text-align: justify;\">美联储主席凯文·沃什将于北京时间周四凌晨2点公布他上任以来的第二次利率决议时,全球资本市场正屏息凝视一个前所未有的悬念。就在一个月前,市场还近乎笃定7月将按兵不动;而此刻,CME FedWatch工具显示加息25个基点的概率已从一周前的13%飙升至30%。花旗直言,这是“自2024年9月以来分歧最大的时刻” 。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e4a0a098da5accee3405532f61ed076a\" alt=\"\" title=\"\" tg-width=\"649\" tg-height=\"409\"/></p><p style=\"text-align: justify;\"><strong>更令人紧张的是,联邦基金利率期货未平仓合约在上周五达到909,714份后,周一进一步飙升至967,136份,刷新历史纪录。“以往到了会前这个时候,市场对政策结果的预期通常已高度一致”,但这次完全不同。BMO Capital Markets数据显示,自2015年以来,交易员在美联储决议前一天对最终利率决定的预测平均误差仅为2.4个基点——而这次,误差可能以“码”来计算。</strong></p><h2 id=\"id_3167133643\">从“10%”到“30%”:一场被地缘政治逆转的通胀叙事</h2><p style=\"text-align: justify;\">7月14日,美国劳工部公布6月CPI数据:CPI同比上涨3.5%,较5月的4.2%显著回落,环比下降0.4%,创2020年4月以来最大单月降幅;核心CPI环比持平,为2021年1月以来最小增幅。这份数据一度让市场相信,美联储可以继续按兵不动,通胀降温的信号一度将市场对7月加息的押注压低至约10%。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/70621edec4c2bd8da0a3a647450c6791\" alt=\"\" title=\"\" tg-width=\"634\" tg-height=\"422\"/></p><p style=\"text-align: justify;\">然而,降温的只是数据,而非趋势。美伊脆弱的停火协议破裂后,中东局势再度升级。7月24日,布伦特原油盘中突破每桶100美元,自6月美联储会议以来累计涨幅已达25%。油价上涨迅速传导至汽油和柴油价格,令消费者和美国工业的成本双双承压。与此同时,特朗普政府于7月24日宣布对60个国家征收10%至12.5%的新关税,作为最高法院此前否决“解放日”关税后的替代方案。此外,AI投资持续强劲,推动相关需求增长。三重因素叠加,扭转了市场对通胀降温的判断。</p><p style=\"text-align: justify;\">PGIM首席美国经济学家Robert Sockin将本周会议形容为“几乎是五五开”。Pantheon Macroeconomics首席经济学家Neil Dutta更直言,7月加息可以让美联储获得“未来的灵活性”,避免在9月被逼入墙角。“你必须在共识中寻找机会,我觉得这次可能就是这样的时刻,”Dutta在7月22日的报告中写道。</p><h2 id=\"id_133539095\">沃什的“沉默革命”:不提前任之路,不提供任何指引</h2><p style=\"text-align: justify;\">这场会议的最大变量,来自沃什本人。自5月22日上任以来,沃什彻底颠覆了美联储的沟通范式。他明确承诺放弃“前瞻性指引”——即不再提前向市场暗示利率路径。</p><p style=\"text-align: justify;\">在7月15日的国会听证会上,他拒绝就未来几个月的利率走势提供任何具体见解。他成立多个工作组重新评估美联储的沟通机制、通胀框架和资产负债表管理。正如Hartford Funds固定收益投资专家Joe Boyle所言:“沃什仍然是个难以捉摸的人物,他一直坚称自己对前瞻性指引不感兴趣。”</p><p style=\"text-align: justify;\">这一做法的后果正在显现——市场失去了过去十几年习以为常的“政策指南针”。R.J. O'Brien衍生品经纪人Alex Manzara指出:“过去,美联储通常不会令市场意外。临近会议时,联邦基金期货隐含利率与最终政策利率通常不会相差超过两三个基点。现在合约中突然出现了不确定性,而这带来了交易需求。”</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3fdc49cef2c40505b17941c946a0a7d4\" alt=\"\" title=\"\" tg-width=\"562\" tg-height=\"432\"/></p><p style=\"text-align: justify;\">Bianco Research总裁Jim Bianco表示 :“没有前瞻指引,意味着我们将频繁看到20%、30%、40%的概率分布”。高盛指出,投资者认为7月会议结果存在“异常大的不确定性”,原因正是美联储内部意见分歧、沃什本人立场尚不明确。</p><h2 id=\"id_323543074\">政治暗流:沃什与特朗普的微妙平衡</h2><p style=\"text-align: justify;\">这场政策博弈的背后,还隐藏着复杂的政治计算。特朗普已公开向沃什施压要求降息,称“利率应该降低”,“我们应该拥有全球最低的利率”。债券市场资深人士Harley Bassman在报告中直言,美联储应该“撕掉创可贴”,将利率提高50个基点。“加息50个基点表明市场出现了一位新警长,他并不受总统的约束”——此举既能获得抗通胀信誉,又能抵御特朗普总统降低借贷成本的压力。</p><p style=\"text-align: justify;\">SMBC日兴证券美国首席经济学家Joseph Lavorgna指出,若等到9月甚至10月才行动——第一次加息正好在中期选举之前——“那会是什么样子?他不如现在就行动”。</p><p style=\"text-align: justify;\">沃什面临的考验在于:他在国会誓言“零容忍”通胀,却迟迟不愿透露具体路径。正如贝莱德此前所指出的,沃什“认识到信誉仍然是央行最强大的政策工具”——但“这些话最终需要用行动来支撑”。</p><h2 id=\"id_2680896766\">鹰派集结:至少两张反对票在途,城堡证券押注“突袭加息”</h2><p style=\"text-align: justify;\">美联储内部的分歧同样罕见。达拉斯联储主席洛根近期明确呼吁“略微更高的利率”,认为通胀仍明显高于2%目标。克利夫兰联储主席哈马克也警告通胀压力过高。两人均拥有2026年FOMC投票权,曾在4月投下反对票,本周极可能再次反对。<strong>高盛预计至少一位委员将投赞成加息的异议票;丹斯克银行预计2至4名委员支持加息;而花旗则押注按兵不动。不过,花旗预计,若反对票超过两张,将被市场解读为更强烈的鹰派信号。机构预测本周至少会有两张反对票。</strong></p><p style=\"text-align: justify;\"><strong>更激进的信号来自华尔街。城堡证券宏观策略主管Frank Flight出人意料地改变基本预期,转而支持本周加息。</strong>他在报告中写道,加息25个基点将强化沃什恢复价格稳定的承诺,同时表明政策制定者不再依赖提前向市场“明示”每一次政策行动。Flight认为市场再次低估了美联储政策立场转向鹰派的程度,“本周加息将明确结束前瞻性指引时代”。</p><p style=\"text-align: justify;\"><strong>Wrightson ICAP首席经济学家Lou Crandall表示,美联储没有理由不加息。</strong>PGIM全球债券主管兼首席投资策略师Robert Tipp则表示,市场可能低估了周三加息的可能性。Tipp说:“他确实为加息做好了准备。现在推迟决定会增加九月份加息50个基点的可能性。”</p><p style=\"text-align: justify;\">然而,分析指出,沃什本人可能并不支持现在加息。他在7月15日的国会证词中将能源价格冲击描述为“特定价格发生的特定冲击,我们无法控制”。加息将“预判”他刚成立的工作组的结论。此外,6月CPI已出现六年来首次下降,就业增长放缓,为按兵不动提供了理由。机构对76位经济学家的调查显示,所有受访者均预计美联储将维持利率不变。</p><h2 id=\"id_3797664327\">市场屏息:无论结果如何,波动都将剧烈</h2><p style=\"text-align: justify;\">瑞银首席美国经济学家Jonathan Pingle坦言,他20年来从未像现在这样对美联储即将做出的利率决定感到如此不确定,上次感到不确定还要追溯到本·伯南克担任美联储主席的时候;<strong>他指出,沃什缺乏过往历史以及美联储官员近期的分歧进一步加剧了前景的不确定性,但他不排除沃什最终投下决定性一票的可能性。</strong>美国银行美国利率策略主管Mark Cabana的总结更为精辟:“投资者仍在试图了解美联储在沃什担任主席期间将如何运作。”</p><p style=\"text-align: justify;\"><strong>不确定性正在驱动前所未有的对冲需求。8月联邦基金期货合约的未平仓合约量在7月27日达到967,136份,刷新历史纪录。</strong>花旗交易团队已买入7月FOMC合约——该头寸将在央行维持利率不变时获利,其短期利率交易全球负责人Akshay Singal表示,“沃什一直明确表示希望市场关注数据,而当前数据尚不足以支持加息”。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/365fa0bfcd36b7feabaf2feca5d4e12e\" alt=\"\" title=\"\" tg-width=\"637\" tg-height=\"374\"/></p><p style=\"text-align: justify;\">宏观策略师Michael Ball指出:“虽然市场正与一位可能在不预告意图的情况下采取行动的美联储主席踏入未知领域,但这样的举措最终可能被投资者接受为适当政策。那将在短期内支撑风险资产”。</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/0f9e9a265cb0e7e8cb195039b2fe24a4","relate_stocks":{"09834":"安硕纳指一百—U","07522":"FI二华夏纳一百","NOCT":"Innovator Growth-100 Power Buffer ETF - 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O'Brien衍生品经纪人Alex Manzara指出:“过去,美联储通常不会令市场意外。临近会议时,联邦基金期货隐含利率与最终政策利率通常不会相差超过两三个基点。现在合约中突然出现了不确定性,而这带来了交易需求。”Bianco Research总裁Jim Bianco表示 :“没有前瞻指引,意味着我们将频繁看到20%、30%、40%的概率分布”。高盛指出,投资者认为7月会议结果存在“异常大的不确定性”,原因正是美联储内部意见分歧、沃什本人立场尚不明确。政治暗流:沃什与特朗普的微妙平衡这场政策博弈的背后,还隐藏着复杂的政治计算。特朗普已公开向沃什施压要求降息,称“利率应该降低”,“我们应该拥有全球最低的利率”。债券市场资深人士Harley Bassman在报告中直言,美联储应该“撕掉创可贴”,将利率提高50个基点。“加息50个基点表明市场出现了一位新警长,他并不受总统的约束”——此举既能获得抗通胀信誉,又能抵御特朗普总统降低借贷成本的压力。SMBC日兴证券美国首席经济学家Joseph Lavorgna指出,若等到9月甚至10月才行动——第一次加息正好在中期选举之前——“那会是什么样子?他不如现在就行动”。沃什面临的考验在于:他在国会誓言“零容忍”通胀,却迟迟不愿透露具体路径。正如贝莱德此前所指出的,沃什“认识到信誉仍然是央行最强大的政策工具”——但“这些话最终需要用行动来支撑”。鹰派集结:至少两张反对票在途,城堡证券押注“突袭加息”美联储内部的分歧同样罕见。达拉斯联储主席洛根近期明确呼吁“略微更高的利率”,认为通胀仍明显高于2%目标。克利夫兰联储主席哈马克也警告通胀压力过高。两人均拥有2026年FOMC投票权,曾在4月投下反对票,本周极可能再次反对。高盛预计至少一位委员将投赞成加息的异议票;丹斯克银行预计2至4名委员支持加息;而花旗则押注按兵不动。不过,花旗预计,若反对票超过两张,将被市场解读为更强烈的鹰派信号。机构预测本周至少会有两张反对票。更激进的信号来自华尔街。城堡证券宏观策略主管Frank Flight出人意料地改变基本预期,转而支持本周加息。他在报告中写道,加息25个基点将强化沃什恢复价格稳定的承诺,同时表明政策制定者不再依赖提前向市场“明示”每一次政策行动。Flight认为市场再次低估了美联储政策立场转向鹰派的程度,“本周加息将明确结束前瞻性指引时代”。Wrightson ICAP首席经济学家Lou Crandall表示,美联储没有理由不加息。PGIM全球债券主管兼首席投资策略师Robert Tipp则表示,市场可能低估了周三加息的可能性。Tipp说:“他确实为加息做好了准备。现在推迟决定会增加九月份加息50个基点的可能性。”然而,分析指出,沃什本人可能并不支持现在加息。他在7月15日的国会证词中将能源价格冲击描述为“特定价格发生的特定冲击,我们无法控制”。加息将“预判”他刚成立的工作组的结论。此外,6月CPI已出现六年来首次下降,就业增长放缓,为按兵不动提供了理由。机构对76位经济学家的调查显示,所有受访者均预计美联储将维持利率不变。市场屏息:无论结果如何,波动都将剧烈瑞银首席美国经济学家Jonathan Pingle坦言,他20年来从未像现在这样对美联储即将做出的利率决定感到如此不确定,上次感到不确定还要追溯到本·伯南克担任美联储主席的时候;他指出,沃什缺乏过往历史以及美联储官员近期的分歧进一步加剧了前景的不确定性,但他不排除沃什最终投下决定性一票的可能性。美国银行美国利率策略主管Mark Cabana的总结更为精辟:“投资者仍在试图了解美联储在沃什担任主席期间将如何运作。”不确定性正在驱动前所未有的对冲需求。8月联邦基金期货合约的未平仓合约量在7月27日达到967,136份,刷新历史纪录。花旗交易团队已买入7月FOMC合约——该头寸将在央行维持利率不变时获利,其短期利率交易全球负责人Akshay Singal表示,“沃什一直明确表示希望市场关注数据,而当前数据尚不足以支持加息”。宏观策略师Michael Ball指出:“虽然市场正与一位可能在不预告意图的情况下采取行动的美联储主席踏入未知领域,但这样的举措最终可能被投资者接受为适当政策。那将在短期内支撑风险资产”。","news_type":1,"symbols_score_info":{"PSQ":0.6,"NDX":2,"QQQ":0.6,"NOCT":0.6,"SPDN":0.6,"03455":0.6,"SPXU":0.6,"SPYU":0.6,"VOO":0.6,"QLD":0.6,"NJAN":0.6,"DIA":0.6,"SPUU":0.6,"TQQQ":0.6,"SPY":0.6,"QID":0.6,"QMAR":0.6,"09086":0.6,"SPXL":0.6,"TQQY":0.6,"DMAX":0.6,"UPRO":0.6,"NJUL":0.6,"SH":0.6,"SQQQ":0.6,"02834":0.6,"UDOW":0.6,"GPIQ":0.6,"SPYQ":0.6,"SSO":0.6,".SPX":2,"SMAX":0.6,"DOG":0.6,"SDOW":0.6,".DJI":2,"03086":0.6,"SPYH":0.6,"DDM":0.6,"07266":0.6,"07568":0.6,"QQQM":0.6,"07261":0.6,"03034":0.6,"SPXS":0.6,"HIBL":0.6,"DXD":0.6,"QDEC":0.6,"NAPR":0.6,"IVV":0.6,"09834":0.6,"YSPY":0.6,"QQQX":0.6,"MMAX":0.6,"SDS":0.6,".IXIC":2,"SPYM":0.6,"07522":0.6}},"isVote":1,"tweetType":1,"viewCount":232,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":586888794837024,"gmtCreate":1784314910494,"gmtModify":1784314912792,"author":{"id":"4228385961123602","authorId":"4228385961123602","name":"HAKUBUN","avatar":"https://static.tigerbbs.com/97e39f638d455bd5828c866ff7fee9d7","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4228385961123602","authorIdStr":"4228385961123602"},"themes":[],"title":"","htmlText":"大裤头胳膊肘朝外拐,做空美股看多港股","listText":"大裤头胳膊肘朝外拐,做空美股看多港股","text":"大裤头胳膊肘朝外拐,做空美股看多港股","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/586888794837024","repostId":"1115100821","repostType":2,"repost":{"id":"1115100821","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据,旨在帮助投资者理解世界,做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1784270294,"share":"https://www.laohunote.com/m/news/1115100821?lang=zh_CN&edition=full","pubTime":"2026-07-17 14:38","market":"us","language":"zh","title":"“大空头”Michael Burry重磅发声:现在正是发掘香港市场低估值股票的绝佳时机","url":"https://stock-news.laohu8.com/highlight/detail?id=1115100821","media":"老虎资讯综合","summary":"因电影《大空头/沽注一掷》(The Big Short)而闻名的投资者迈克尔·伯里(Michael Burry)表示,在今年全球人工智能(AI)热潮推动市场上涨之际,香港股市表现落后于其他市场,因此现在是寻找香港股票投资机会的好时机。伯里是投资公司 Scion Asset Management 的创始人。他周五在社交平台 X 上发文称:“现在尤其是一个关注香港市场的好时机,可以寻找那些价格便宜、并且在韩国、日本以及半导体指数(SOXX)的光环逐渐消退后,有望表现良好的股票。”伯里本月早些时候曾表示,他已经增持了京东的股票。","content":"<html><head></head><body><p style=\"text-align: left;\"></p><p class=\"t-img-caption\"><img alt=\"https://images.openai.com/static-rsc-4/9qbVhpqvMMa52meZZ9uPaWeYQWh3pFfe1z0W5iE4RVo9epFZmFDMCLerBGNCdGUERnuF8KREB14e-F1vO4SDsht14eBGfKeRRSxhwMLCIUmMw3t5XvpXlc-BHoMoWfGYyGcHKFNV58IvhSjIR5lDGwnxO3Re7ZTH217bJGX-nykJGJpggUr2kSv7hnM8fTe9?purpose=fullsize\" src=\"https://community-static.tradeup.com/news/02242d5f721b03942e30ae0a58a01b5b\" data-align=\"center\" tg-width=\"1075\" tg-height=\"740\"/><span></span></p><p style=\"text-align: left;\">因电影《大空头/沽注一掷》(The Big Short)而闻名的投资者迈克尔·伯里(Michael Burry)表示,在今年全球人工智能(AI)热潮推动市场上涨之际,香港股市表现落后于其他市场,因此现在是寻找香港股票投资机会的好时机。</p><p style=\"text-align: left;\">伯里是投资公司 Scion Asset Management 的创始人。他周五在社交平台上发文称:</p><p style=\"text-align: left;\">“现在尤其是一个关注香港市场的好时机,可以寻找那些价格便宜、并且在韩国、日本以及半导体指数(SOXX)的光环逐渐消退后,有望表现良好的股票。”</p><p style=\"text-align: left;\">伯里本月早些时候曾表示,他已经增持了京东的股票。</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/cedd9a38974ac59fb6ad2d2f3ae2c862\" data-align=\"center\" tg-width=\"1180\" tg-height=\"294\"/><span></span></p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>“大空头”Michael Burry重磅发声:现在正是发掘香港市场低估值股票的绝佳时机</title>\n<style 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margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n“大空头”Michael Burry重磅发声:现在正是发掘香港市场低估值股票的绝佳时机\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time\">2026-07-17 14:38</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p style=\"text-align: left;\"></p><p class=\"t-img-caption\"><img alt=\"https://images.openai.com/static-rsc-4/9qbVhpqvMMa52meZZ9uPaWeYQWh3pFfe1z0W5iE4RVo9epFZmFDMCLerBGNCdGUERnuF8KREB14e-F1vO4SDsht14eBGfKeRRSxhwMLCIUmMw3t5XvpXlc-BHoMoWfGYyGcHKFNV58IvhSjIR5lDGwnxO3Re7ZTH217bJGX-nykJGJpggUr2kSv7hnM8fTe9?purpose=fullsize\" src=\"https://community-static.tradeup.com/news/02242d5f721b03942e30ae0a58a01b5b\" data-align=\"center\" tg-width=\"1075\" tg-height=\"740\"/><span></span></p><p style=\"text-align: left;\">因电影《大空头/沽注一掷》(The Big Short)而闻名的投资者迈克尔·伯里(Michael Burry)表示,在今年全球人工智能(AI)热潮推动市场上涨之际,香港股市表现落后于其他市场,因此现在是寻找香港股票投资机会的好时机。</p><p style=\"text-align: left;\">伯里是投资公司 Scion Asset Management 的创始人。他周五在社交平台上发文称:</p><p style=\"text-align: left;\">“现在尤其是一个关注香港市场的好时机,可以寻找那些价格便宜、并且在韩国、日本以及半导体指数(SOXX)的光环逐渐消退后,有望表现良好的股票。”</p><p style=\"text-align: left;\">伯里本月早些时候曾表示,他已经增持了京东的股票。</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/cedd9a38974ac59fb6ad2d2f3ae2c862\" data-align=\"center\" tg-width=\"1180\" tg-height=\"294\"/><span></span></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://community-static.tradeup.com/news/02242d5f721b03942e30ae0a58a01b5b","relate_stocks":{"82800":"盈富基金-R","82828":"恒生中国企业-R","83115":"安硕恒生指数—R","03088":"华夏恒生科技","07226":"南方两倍做多恒科","09618":"京东集团-SW","07288":"FL二南方国指","03033":"南方恒生科技","03416":"AGX国指兑","09088":"华夏恒生科技-U","03423":"招商恒生科技","09067":"安硕恒生科技-U","07552":"南方两倍做空恒科","07200":"南方两倍做多恒指","07300":"FI南方恒指","03037":"南方恒指ETF","07588":"FI二南方国指","HSCEI":"国企指数","02837":"GX恒生科技","09115":"安硕恒生指数—U","HSI":"恒生指数","02800":"盈富基金","03067":"安硕恒生科技","03419":"A GX恒指备兑","HSTECH":"恒生科技指数","03115":"安硕恒生指数","02828":"恒生中国企业","03417":"AGX恒科备兑","07500":"南方两倍做空恒指","03032":"恒生科技ETF"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1115100821","content_text":"因电影《大空头/沽注一掷》(The Big Short)而闻名的投资者迈克尔·伯里(Michael Burry)表示,在今年全球人工智能(AI)热潮推动市场上涨之际,香港股市表现落后于其他市场,因此现在是寻找香港股票投资机会的好时机。伯里是投资公司 Scion Asset Management 的创始人。他周五在社交平台上发文称:“现在尤其是一个关注香港市场的好时机,可以寻找那些价格便宜、并且在韩国、日本以及半导体指数(SOXX)的光环逐渐消退后,有望表现良好的股票。”伯里本月早些时候曾表示,他已经增持了京东的股票。","news_type":1,"symbols_score_info":{"82800":0.6,"82828":0.6,"83115":0.6,"07226":0.6,"09115":0.6,"03088":0.6,"07288":0.6,"03032":0.6,"03417":0.6,"HSI":2,"03115":0.6,"03416":0.6,"07300":0.6,"07500":0.6,"02828":0.6,"03067":0.6,"07588":0.6,"03419":0.6,"HSCEI":2,"07552":0.6,"09067":0.6,"03423":0.6,"HSTECH":2,"03033":0.6,"09618":2,"02837":0.6,"09088":0.6,"07200":0.6,"02800":0.6,"03037":0.6}},"isVote":1,"tweetType":1,"viewCount":560,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"lives":[]}