Evening hot spots in A-shares | Shanghai Futures Exchange continues to cool down, involving silver, tin, copper and other futures.

1. Ministry of Commerce: Will optimize the implementation of the old-for-new consumer goods policy to promote the consumption of large durable goods such as household appliances Importance: On Monday, the State Council Information Office held a press conference on the 2025 commercial work and operation status. It was revealed at the conference that in 2026, the Ministry of Commerce will optimize the implementation of the old-for-new consumer goods policy to promote the consumption of large durable goods such as cars, household appliances, digital and smart products. Pilot reforms in car circulation consumption will be carried out to further unleash the potential of car consumption. Wang Ya, head of the Department of Foreign Investment Management of the Ministry of Commerce, stated that in 2026, the focus will be on the service industry to expand market access and opening up in an orderly manner, expand autonomous opening in areas such as telecommunications, healthcare, and education, and promote the early implementation of pilot projects. 2. The Shanghai Futures Exchange takes measures to cool down, involving silver, tin, copper and other futures Importance: On the evening of January 26th, the Shanghai Futures Exchange issued two notices. One adjusts the trading limit of silver and tin futures contracts. The other adjusts the trading limit and margin ratio of copper futures contracts. Market analysts believe that the Shanghai Futures Exchange has taken risk control measures several times recently for related commodities, and has timely released regulatory announcements, sending a clear message to the market of its determination to crack down on illegal activities and maintain trading order. The sentiment in the precious metals and non-ferrous metals markets has been strong recently, and it is recommended that market participants beware of risks and trade rationally. (Continued...)