Pre-market report on A-share market | Dow Jones Industrial Average reaches 50,000 points! Chinese concept stock index rises over 3%, National Development and Reform Commission's study promotes effective investment policy measures.

Pre-market headlines 1. The Dow hits 50,000 points for the first time in history! Chinese stocks rise by over 3%, silver and Bitcoin surge collectively. Type: Market Sentiment: Positive Global assets collectively surged last Friday, with the S&P 500 index seeing its largest single-day gain since May last year, and the Dow reaching the historic milestone of 50,000 points. Nvidia rose by over 7% in a single day, adding over $320 billion to its market value, and the Nasdaq Golden Dragon Index surged by 3.71%. Silver rebounded nearly 10% on Friday, while Bitcoin also rose by nearly 12%. 2. Significant news in commercial aerospace! China successfully launches a reusable test spacecraft. Type: Industry Sentiment: Positive On February 7th, China successfully launched a reusable test spacecraft using the Long March 2F rocket at the Jiuquan Satellite Launch Center. The test spacecraft will conduct technological verification of reusable spaceflight as planned, providing technical support for peaceful space utilization. Analysts point out that with the successful verification of reusable test spacecraft technology by China in 2026, commercial aerospace is expected to enter a stage of frequent launches. 3. State Council discusses promoting effective investment policies, planning and implementing major initiatives and projects. Type: Macro Sentiment: Positive The State Council mentioned on Friday night that promoting effective investment plays an important role in stabilizing economic growth and enhancing development resilience. In key areas such as infrastructure, urban renewal, public services, emerging industries, and future industries, they will plan to promote major projects and initiatives. Efforts will be made to better leverage the investment expansion roles of central and state-owned enterprises, and to increase support for private investment development, forming a collective effort to promote effective investment. 4. The People's Bank of China and eight other departments issue a document! Upgrading virtual currency regulation policies, continuing to crack down on virtual currency "mining" activities. Type: Industry Sentiment: Neutral The People's Bank of China and eight other departments issued a notice on further preventing and disposing of risks related to virtual currencies. This notice overall continues the prohibitive policy orientation of relevant departments towards virtual currencies, and clarifies the essential attributes of stablecoins pegged to legal tender currencies and tokenization of real-world assets (RWAs) related businesses. Investment Calendar Adjustment of gold, silver, and copper futures margin by exchanges. Institutional viewpoints 1. Industrial: With certain risks released during the previous adjustment, a gradual transition from defensive thinking is possible to position for the Spring Festival market. 2. Huaxi: With the rebound of US technology stocks on Friday, related sectors in...