两融余额首次站上3万亿 杠杆狂欢还能走多远

2026-06-30 · 美嘉配资

жүӢжңәжҹҘзңӢиҙўз»Ҹеҝ«и®Ҝ дёҖжүӢжҺҢжҸЎеёӮеңәи„үжҗҸ гҖҖгҖҖвҖңжҠҪе№ІдәҶе…ЁеёӮеңә95%е…¶д»–иӮЎзҘЁзҡ„жөҒеҠЁжҖ§пјҢжүҺе ҶзӮ’дҪң5%зҡ„AI硬件гҖӮвҖқдёҖдҪҚжңәжһ„жҠ•иө„дәәеңЁдёӨиһҚдҪҷйўқйҰ–з ҙ

жүӢжңәжҹҘзңӢиҙўз»Ҹеҝ«и®Ҝ

дёҖжүӢжҺҢжҸЎеёӮеңәи„үжҗҸ

гҖҖгҖҖвҖңжҠҪе№ІдәҶе…ЁеёӮеңә95%е…¶д»–иӮЎзҘЁзҡ„жөҒеҠЁжҖ§пјҢжүҺе ҶзӮ’дҪң5%зҡ„AI硬件гҖӮвҖқдёҖдҪҚжңәжһ„жҠ•иө„дәәеңЁдёӨиһҚдҪҷйўқйҰ–з ҙ3дёҮдәҝж—¶иҜ„д»·гҖӮ

гҖҖгҖҖ6жңҲ23ж—ҘпјҢAиӮЎжқ жқҶиө„йҮ‘з«ҷдёҠдәҶ еҺҶеҸІж–°й«ҳ вҖ”вҖ”30009.71дәҝе…ғгҖӮд»Һ2.9дёҮдәҝе…ғеҲ°3дёҮдәҝе…ғпјҢеҸӘз”ЁдәҶ6дёӘдәӨжҳ“ж—ҘгҖӮ

гҖҖгҖҖеҪ“дёӢзҡ„дёӨиһҚдҪҷйўқпјҢжҜ”2015е№ҙеі°еҖј2.27дёҮдәҝе…ғй«ҳеҮә32%пјҢдҪҶ2.83%зҡ„жөҒйҖҡеёӮеҖјеҚ жҜ”гҖҒ10.25%зҡ„дәӨжҳ“йўқеҚ жҜ”пјҢеҲҷеқҮиҝңдҪҺдәҺ2015е№ҙжһҒеҖјж—¶гҖӮ

гҖҖгҖҖз«ҷдёҠ3дёҮдәҝе…ғзҡ„дёӨиһҚдҪҷйўқпјҢжҳҜвҖңеҗҲзҗҶж–°еёёжҖҒвҖқиҝҳжҳҜвҖңйЈҺйҷ©еүҚеӨңвҖқпјҹжқ жқҶзӢӮж¬ўиҝҳиғҪиө°еӨҡиҝңпјҹ

гҖҖгҖҖ3дёҮдәҝзҡ„ ж–°еқҗж Ү

гҖҖгҖҖWindж•°жҚ®жҳҫзӨәпјҢд»Ҡе№ҙд»ҘжқҘпјҢдёӨиһҚдҪҷйўқз”ұе№ҙеҲқзҡ„25406.82дәҝе…ғеўһиҮі30009.71дәҝе…ғпјҢеўһеҠ 4602.89дәҝе…ғпјҢеўһе№…18.12%гҖӮ

гҖҖгҖҖиҝ‘жңҹпјҢдёӨиһҚдҪҷйўқеҠ йҖҹеўһй•ҝгҖӮ6жңҲ15ж—ҘиҮі23ж—Ҙд№Ӣй—ҙзҡ„6дёӘдәӨжҳ“ж—ҘдёӨиһҚдҪҷйўқзҙҜи®ЎеўһеҠ 1275дәҝе…ғгҖӮ

гҖҖгҖҖ6жңҲ15ж—ҘпјҢдёӨиһҚдҪҷйўқ28979дәҝе…ғпјӣ6жңҲ16ж—ҘпјҢ29248дәҝе…ғпјӣ6жңҲ17ж—ҘпјҢ29528дәҝе…ғпјӣ6жңҲ18ж—ҘпјҢ29655дәҝе…ғпјӣ6жңҲ22ж—ҘпјҢ29950дәҝе…ғпјӣ6жңҲ23ж—ҘпјҢ30009дәҝе…ғгҖӮ

гҖҖгҖҖд»Һ2.9дёҮдәҝеҲ°3дёҮдәҝпјҢеҸӘз”ЁдәҶ6дёӘдәӨжҳ“ж—ҘгҖӮ

гҖҖгҖҖеңЁ2015е№ҙпјҢдёӨиһҚдҪҷйўқеҶІеҲ°2.27дёҮдәҝзҡ„еі°еҖјгҖӮдҪҶеҪ“ж—¶AиӮЎжҖ»еёӮеҖјдёҚеҲ°50дёҮдәҝе…ғпјҢдёӨиһҚдҪҷйўқеҚ жөҒйҖҡеёӮеҖјжҜ”дҫӢиҫҫеҲ°4.27%пјҢиҝҷдёҖж•°еҖјжңҖй«ҳеі°еҮәзҺ°еңЁ2015е№ҙ7жңҲ3ж—ҘпјҢиҫҫеҲ°4.73%гҖӮ

гҖҖгҖҖиҖҢиҝҷдёҖж¬Ў3дёҮдәҝзҡ„дёӨиһҚдҪҷйўқпјҢеҚ AиӮЎжөҒйҖҡеёӮеҖјжҜ”дҫӢд»…дёә2.83%гҖӮдёӨиһҚдәӨжҳ“йўқеҚ AиӮЎжҲҗдәӨйўқзҡ„10.25%пјҢиҖҢ2015е№ҙеі°еҖјж—¶жңҹиҝҷдёҖж•°жҚ®и¶…иҝҮ20%вҖ”вҖ”2015е№ҙ2жңҲ10ж—ҘжӣҫиҫҫеҲ°22.23%гҖӮ

гҖҖгҖҖдёӨиһҚдҪҷйўқз»қеҜ№еҖјеҲӣдәҶж–°й«ҳпјҢзӣёеҜ№AиӮЎжҲҗдәӨйўқжҜ”дҫӢеҚҙжҜ”еҚҒе№ҙеүҚжё©е’Ңи®ёеӨҡгҖӮ

гҖҖгҖҖеҜ№жӯӨпјҢж јдёҠеҹәйҮ‘з ”з©¶е‘ҳи’ӢзқҝеҲӨж–ӯпјҡвҖңзңҹжӯЈзҡ„еҚұйҷ©дҝЎеҸ·дёҚжҳҜдёӨиһҚдҪҷйўқзҡ„з»қеҜ№ж•°еҖјпјҢиҖҢжҳҜдёӨиһҚдҪҷйўқеҚ AиӮЎжөҒйҖҡеёӮеҖјжҜ”дҫӢжҳҜеҗҰзӘҒз ҙиӯҰжҲ’зәҝгҖӮеҪ“еүҚиҝҷдёҖжҜ”дҫӢд»…2.83%пјҢиҝңдҪҺдәҺ2015е№ҙй«ҳзӮ№4%д»ҘдёҠгҖӮжӣҙйҮҚиҰҒзҡ„жҳҜпјҢжқ жқҶиө„йҮ‘еҮ д№Һе…ЁйғЁйӣҶдёӯеңЁзЎ¬з§‘жҠҖжқҝеқ—пјҢе…¶д»–иЎҢдёҡзҡ„жқ жқҶ规模дёҚд»…жІЎеўһеҠ пјҢеҸҚиҖҢеңЁзј©еҮҸгҖӮеӣ жӯӨпјҢ3дёҮдәҝ并йқһвҖҳжқ жқҶзӣӣе®ҙвҖҷзҡ„йЎ¶еі°пјҢиҖҢжҳҜеёӮеҖјеўһй•ҝеҢ№й…Қжқ жқҶзҡ„еҗҲзҗҶж–°еёёжҖҒгҖӮвҖқ

гҖҖгҖҖиө„ж·ұжҠ•иЎҢдәәеЈ«зҺӢйӘҘи·ғд№ҹжҢҒзӣёеҗҢи§ӮзӮ№пјҡвҖң3дёҮдәҝзЎ®е®һеӨ„дәҺеҺҶеҸІй«ҳдҪҚпјҢйЈҺйҷ©иӮҜе®ҡжңүгҖӮдҪҶйЈҺйҷ©иҰҒзңӢеҸӮз…§зі»вҖ”вҖ”еҪ“еүҚдёӨиһҚеҚ жҲҗдәӨйўқзҡ„жҜ”йҮҚиҝҳз®—еҗҲзҗҶпјҢеҸӘжҳҜз•Ҙеҫ®еҒҸй«ҳпјӣеҰӮжһңзңӢдёӨиһҚеҚ жөҒйҖҡжҖ»еёӮеҖјзҡ„жҜ”дҫӢпјҢзҰ»еҚұйҷ©зәҝиҝҳиҝңеҫ—еҫҲгҖӮвҖқ

гҖҖгҖҖ科жҠҖдё»жҲҳеңәжһҒиҮҙжӢҘжҢӨ

гҖҖгҖҖ3дёҮдәҝе…ғжқ жқҶиө„йҮ‘пјҢдёҚжҳҜеқҮеҢҖж’’еҗ‘еёӮеңәзҡ„гҖӮ

гҖҖгҖҖд»Һиҝ‘жңҹиһҚиө„иө„йҮ‘жөҒеҗ‘зҡ„е…·дҪ“иЎҢдёҡеҲҶеёғжқҘзңӢпјҢе‘ҲзҺ°жҳҺжҳҫзҡ„з»“жһ„жҖ§еҲҶеҢ–зү№еҫҒгҖӮ6жңҲд»ҘжқҘпјҢз”ідёҮ31дёӘдёҖзә§иЎҢдёҡдёӯжңү15дёӘиЎҢдёҡиҺ·иһҚиө„еҮҖд№°е…ҘпјҢеҢ…жӢ¬ з”өеӯҗ 513дәҝе…ғгҖҒ йҖҡдҝЎ 274дәҝе…ғгҖҒ жңәжў°и®ҫеӨҮ 107дәҝе…ғгҖҒ жңүиүІйҮ‘еұһ 104дәҝе…ғгҖҒ еҹәзЎҖеҢ–е·Ҙ 88дәҝе…ғгҖӮе°Өе…¶йӣҶдёӯеңЁз”ідёҮдәҢзә§иЎҢдёҡдёӯзҡ„ йҖҡдҝЎи®ҫеӨҮ пјҲ282дәҝе…ғпјүгҖҒ еҚҠеҜјдҪ“ пјҲ234дәҝе…ғпјүгҖҒ е…ғ件 пјҲ117дәҝе…ғпјүгҖӮ

гҖҖгҖҖи’ӢзқҝжҸҗдҫӣзҡ„ж•°жҚ®жҳҫзӨәпјҢиһҚиө„иө„йҮ‘е‘ҲзҺ°й«ҳеәҰйӣҶдёӯдәҺTMTжқҝеқ—зҡ„зү№еҫҒпјҢе…¶дёӯ з”өеӯҗ иЎҢдёҡиһҚиө„дҪҷйўқиҫғе№ҙеҲқеўһеҠ 62.0%гҖӮ

гҖҖгҖҖжҖ»дҪ“жқҘзңӢпјҢ6жңҲд»ҘжқҘпјҢ з”өеӯҗ гҖҒ йҖҡдҝЎ иЎҢдёҡзҡ„иһҚиө„иө„йҮ‘еҮҖд№°е…Ҙиҝңи¶…е…¶д»–иЎҢдёҡпјҢиһҚиө„еҮҖд№°е…Ҙйўқиҝ‘800дәҝе…ғгҖӮиҖҢеҢ…жӢ¬ еҢ»иҚҜз”ҹзү© гҖҒ жұҪиҪҰ гҖҒ йқһ银йҮ‘иһҚ гҖҒ дј еӘ’ гҖҒ и®Ўз®—жңә еңЁеҶ…зҡ„16дёӘиЎҢдёҡеҲҷе‘ҲзҺ°иһҚиө„иө„йҮ‘еҮҖеҒҝиҝҳгҖӮ

гҖҖгҖҖжқ жқҶиө„йҮ‘зҡ„ж–№еҗ‘еҫҲжё…жҷ°вҖ”вҖ”科жҠҖжҳҜдё»жҲҳеңәпјҢиө„жәҗе“ҒжҳҜиҫ…зәҝгҖӮ

гҖҖгҖҖдёӘиӮЎеұӮйқўпјҢ дёӯйҷ…ж—ӯеҲӣ жҲҗдёәжң¬иҪ®жқ жқҶиө„йҮ‘жңҖйӣҶдёӯзҡ„зҢҺзү©гҖӮ6жңҲ22ж—ҘеҚ•ж—ҘиһҚиө„еҮҖд№°е…Ҙ15.64дәҝе…ғеұ…йҰ–пјӣ6жңҲ23ж—Ҙ继з»ӯеҮҖд№°е…Ҙ10.44дәҝе…ғгҖӮ6дёӘдәӨжҳ“ж—ҘзҙҜи®ЎиһҚиө„еҮҖд№°е…Ҙйўқй«ҳиҫҫ68.91дәҝе…ғгҖӮжҲӘиҮі6жңҲ23ж—ҘпјҢ дёӯйҷ…ж—ӯеҲӣ иһҚиө„иһҚеҲё дҪҷйўқеҗҲи®Ў465.32дәҝе…ғгҖӮ

гҖҖгҖҖ6жңҲд»ҘжқҘпјҢиһҚиө„еҮҖд№°е…ҘйўқжңҖй«ҳзҡ„дёӘиӮЎеҢ…жӢ¬пјҡ дёӯйҷ…ж—ӯеҲӣ пјҲ110дәҝе…ғпјүгҖҒ ж–°жҳ“зӣӣ пјҲ52дәҝе…ғпјүгҖҒ е…Ҷжҳ“еҲӣж–° пјҲ33дәҝе…ғпјүгҖҒ е®Ғеҫ·ж—¶д»Ј пјҲ24дәҝе…ғпјүгҖҒ дәЁйҖҡе…үз”ө пјҲ23дәҝе…ғпјүзӯүгҖӮ

гҖҖгҖҖжҲӘиҮі6жңҲ23ж—ҘпјҢиһҚиө„дҪҷйўқжңҖй«ҳзҡ„дёӘиӮЎеүҚдә”еҗҚеҲҶеҲ«дёәпјҡдёӯйҷ…ж—ӯеҲӣпјҲ464дәҝе…ғпјүгҖҒ дёӯеӣҪе№іе®ү пјҲ384дәҝе…ғпјүгҖҒ ж–°жҳ“зӣӣ пјҲ260дәҝе…ғпјүгҖҒ еҜ’жӯҰзәӘ пјҲ260дәҝе…ғпјүгҖҒ дёңж–№иҙўеҜҢ пјҲ247дәҝе…ғпјүгҖӮ

гҖҖгҖҖжқ жқҶиө„йҮ‘еңЁз§‘жҠҖиӮЎдёҠжһҒиҮҙзҡ„йӣҶдёӯеәҰпјҢеј•еҸ‘дәҶеёӮеңәеҜ№з»“жһ„жҖ§йЈҺйҷ©зҡ„жҷ®йҒҚжӢ…еҝ§гҖӮ

гҖҖгҖҖвҖң3дёҮдәҝе…ғеҲӣ еҺҶеҸІж–°й«ҳ пјҢеҝ…йЎ»иӯҰжғ•гҖӮвҖқеүҚжө·ејҖжәҗеҹәйҮ‘йҰ–еёӯз»ҸжөҺеӯҰ家жқЁеҫ·йҫҷеҗ‘и®°иҖ…иЎЁиҫҫдәҶд»–зҡ„жӢ…еҝ§пјҢвҖңжӣҙжЈҳжүӢзҡ„жҳҜпјҢиһҚиө„зӣҳеҮ д№Һе…ЁеҺӢеңЁз§‘жҠҖиӮЎдёҠгҖӮдёҖж—Ұ科жҠҖжқҝеқ—еү§зғҲеӣһи°ғпјҢеҫҲеҸҜиғҪи§ҰеҸ‘иҝһй”Ғе№ід»“пјҢеј•еҸ‘еұҖйғЁиё©иёҸвҖ”вҖ”иҝҷеҜ№жҠ•иө„иҖ…е’ҢеёӮеңәйғҪжҳҜжһҒеӨ§зҡ„йЈҺйҷ©гҖӮвҖқ

гҖҖгҖҖдёҖдҪҚз§ҒеӢҹжңәжһ„иҙҹиҙЈдәәзҡ„еҲӨж–ӯжӣҙдёәзӣҙжҺҘпјҡвҖңжң¬иҪ®AIжҠ•жңәзӢӮжҪ®е·Іиҝӣе…Ҙж–°й«ҳжҪ®пјҢдёҠе‘ЁиһҚиө„еҮҖжөҒе…Ҙи¶…900дәҝе…ғпјҢй’ҹж‘Ҷе·Із»Ҹж‘ҶеҲ°дәҶжһҒйҷҗгҖӮвҖқ

гҖҖгҖҖд»–иҝӣдёҖжӯҘжҢҮеҮәпјҢAиӮЎAI硬件зҡ„жҠ•жңәзғӯеәҰзӘҒз ҙеҺҶеҸІжүҖжңүе‘ЁжңҹжһҒеҖјпјҢвҖңжҠҪе№ІдәҶе…ЁеёӮеңә95%е…¶д»–иӮЎзҘЁзҡ„жөҒеҠЁжҖ§пјҢеҸӘдёәжүҺе ҶзӮ’дҪңйӮЈ5%зҡ„AI硬件вҖ”вҖ”зӮ’зҡ„дёҚиҝҮжҳҜзҹӯжңҹж¶Ёд»·е’ҢйҖҡиғҖйҖ»иҫ‘гҖӮвҖқ

гҖҖгҖҖд»–з”ҡиҮіиӯҰе‘ҠпјҡвҖңйЈҺйҷ©е·Із»ҸжһҒй«ҳпјҢйғЁеҲҶдёӘиӮЎйҡҗеҗ«90%д»ҘдёҠзҡ„жҪңеңЁи·Ңе№…гҖӮдёҖж—Ұзҹӯжңҹеӣһи°ғ20%е°ҶжңүеҸҜиғҪи§ҰеҸ‘иҙҹеҸҚйҰҲгҖӮвҖқ

гҖҖгҖҖзҺӢйӘҘи·ғзҡ„жҖҒеәҰеҲҷжІЎйӮЈд№ҲжӮІи§ӮгҖӮвҖң科жҠҖиӮЎиҝ‘жңҹж¶Ёеҫ—еӨҡпјҢеӣһж’ӨйЈҺйҷ©иӮҜе®ҡжңүпјҢеҜ№жқ жқҶиө„йҮ‘зҡ„еҶІеҮ»д№ҹдёҚдјҡе°ҸпјҢдҪҶеҸӘиҰҒдёҚжҳҜиҝһз»ӯи·ҢеҒңпјҢжӯЈеёёеҲ°дёҚдәҶе№ід»“дҪҚгҖӮвҖқ

гҖҖгҖҖд»–еҗ‘и®°иҖ…еҲҶжһҗйҒ“пјҢдёҖж–№йқўпјҢеҫҲеӨҡ科жҠҖиӮЎзҡ„иҙЁжҠјзҺҮе·Із»ҸеҫҲдҪҺдәҶпјҢе№ід»“зҡ„е®үе…Ёеһ«жҜ”еёӮеңәжғіиұЎзҡ„иҰҒеҺҡпјӣеҸҰдёҖж–№йқўпјҢдёҚе°‘иө„йҮ‘жҳҜйҖҡиҝҮиҙЁжҠје…¶д»–еә•д»“иӮЎзҘЁжқҘжҠ•з§‘жҠҖиӮЎзҡ„пјҢе°ұ算科жҠҖиӮЎеӨ§и·ҢпјҢиў«иҙЁжҠјзҡ„еә•д»“иӮЎзҘЁжІЎи·ҢпјҢд№ҹдёҚдјҡи§ҰеҸ‘е№ід»“гҖӮвҖңйЈҺйҷ©жңүпјҢдҪҶжІЎжңүжғіиұЎзҡ„йӮЈд№ҲеӨ§гҖӮвҖқ

гҖҖгҖҖи’Ӣзқҝд№ҹи®ӨдёәпјҢеҚідҫҝ科жҠҖжқҝеқ—еү§зғҲеӣһи°ғпјҢиҝһй”Ғе№ід»“йЈҺйҷ©д№ҹеҸҜжҺ§гҖӮе№ҙеҲқиһҚиө„дҝқиҜҒйҮ‘жҜ”дҫӢе·ІдёҠи°ғиҮі100%пјҢйҷҗеҲ¶дәҶж–°еўһжқ жқҶпјӣеҪ“еүҚе№іеқҮз»ҙжҢҒжӢ…дҝқжҜ”дҫӢзәҰ280%пјҢиҝңи¶…130%е№ід»“зәҝпјҢе®үе…Ёеһ«е……иЈ•гҖӮвҖңйҷӨйқһиҝһз»ӯжһҒз«ҜдёӢи·ҢпјҢеҗҰеҲҷиҝһй”Ғе№ід»“еҫҲйҡҫи§ҰеҸ‘гҖӮвҖқ

гҖҖгҖҖжқ жқҶзӢӮж¬ўиҝҳиғҪиө°еӨҡиҝңпјҹ

гҖҖгҖҖ3дёҮдәҝд№ӢеҗҺпјҢиҝҳиғҪиө°еӨҡиҝңпјҹ

гҖҖгҖҖзҺӢйӘҘи·ғйў„и®ЎпјҢдёӨиһҚдҪҷйўқзҹӯжңҹеҶ…д»Қе°Ҷз»ҙжҢҒй«ҳдҪҚгҖӮ

гҖҖгҖҖвҖңзҺ°еңЁиһҚиө„жҲҗжң¬дёҚй«ҳпјҢеҲёе•Ҷд№ҹеңЁеҠӣжҺЁиҝҷеқ—дёҡеҠЎгҖӮвҖқдҪҶд»–жҸҗйҶ’жҠ•иө„иҖ…пјҢвҖңжңҖеӨ§зҡ„йЈҺйҷ©зӮ№дёҚеңЁеёӮеңәжң¬иә«пјҢиҖҢеңЁдәҺеҲёе•Ҷи°ғж•ҙиҙЁжҠјзҺҮвҖ”вҖ”дёҖж—ҰиҙЁжҠјзҺҮ收зҙ§пјҢжқ жқҶиө„йҮ‘зҡ„еҺӢеҠӣдјҡиҝ…йҖҹж”ҫеӨ§гҖӮвҖқ

гҖҖгҖҖи’ӢзқҝеҲҷйў„и®ЎпјҢдёӨиһҚдҪҷйўқзҹӯжңҹз»ҙжҢҒй«ҳдҪҚпјҢдҪҶеўһйҖҹе°Ҷж”ҫзј“гҖӮAIдё»зәҝжңӘз»“жқҹпјҢеўһйҮҸиө„йҮ‘д»Қжңүз©әй—ҙпјҢдҪҶ100%дҝқиҜҒйҮ‘жҜ”дҫӢйҷҗеҲ¶дәҶжқ жқҶпјҢеҸ еҠ зҫҺиҒ”еӮЁж”ҝзӯ–е’Ңең°зјҳйЈҺйҷ©пјҢвҖңй«ҳдҪҚйңҮиҚЎжҳҜеӨ§жҰӮзҺҮпјҢеҶҚеҠ йҖҹеҫҲйҡҫгҖӮвҖқ

гҖҖгҖҖеҜ№дәҺжҷ®йҖҡжҠ•иө„иҖ…пјҢи’ӢзқҝжҳҺзЎ®е»әи®®пјҡдёҚиҰҒвҖңйЎәеҠҝеҠ жқ жқҶвҖқпјҢиҖҢеә”йҮҮеҸ–вҖңйҖӮеәҰеҸӮдёҺ+дёҘж јйЈҺжҺ§вҖқзҡ„зӯ–з•ҘгҖӮе…·дҪ“иҖҢиЁҖпјҢиһҚиө„д»“дҪҚжҺ§еҲ¶еңЁжҖ»д»“дҪҚзҡ„20%вҖ”30%д»ҘеҶ…пјҢйҒҝе…ҚйҮҚжҠјеҚ•дёҖиЎҢдёҡжҲ–дёӘиӮЎпјҢдјҳе…ҲйҖүжӢ©еҹәжң¬йқўжүҺе®һгҖҒдёҡз»©иғҪеӨҹж”Ҝж’‘дј°еҖјзҡ„科жҠҖйҫҷеӨҙгҖӮ

гҖҖгҖҖвҖңиөҡи®ӨзҹҘиҢғеӣҙеҶ…зҡ„й’ұпјҢеҲ«иөҡжқ жқҶзҡ„й’ұгҖӮвҖқи’ӢзқҝжҸҗзӨәе…іжіЁдёүдёӘвҖңеҚұйҷ©дҝЎеҸ·вҖқжҢҮж Үпјҡдј°еҖјжҳҜеҗҰзӘҒз ҙеҺҶеҸІжіЎжІ«еі°еҖјгҖҒжҲҗдәӨйўқжҺ’еҗҚеүҚ5%зҡ„дёӘиӮЎеҚ жҜ”жҳҜеҗҰжҺҘиҝ‘50%зҡ„еҺҶеҸІйҳҲеҖјгҖҒдј°еҖјеҲҶеҢ–зі»ж•°жҳҜеҗҰиҫҫеҲ°еҺҶеҸІжңҖй«ҳж°ҙе№ігҖӮ

гҖҖгҖҖжқЁеҫ·йҫҷжҢҮеҮәпјҢвҖң2015е№ҙдёӨиһҚдҪҷйўқжңҖй«ҳзҡ„ж—¶еҖҷжүҚ2.3дёҮдәҝпјҢзҺ°еңЁжҳҜ3дёҮдәҝпјҢиҝңи¶…еҚҒе№ҙеүҚзҡ„ж°ҙе№іпјҢиҝҷдёӘж•°еӯ—жң¬иә«е°ұеҖјеҫ—иӯҰжғ•гҖӮвҖқ

гҖҖгҖҖд»–зү№еҲ«жҸҗйҶ’жҠ•иө„иҖ…йҮҚжё©е·ҙиҸІзү№зҡ„йӮЈеҸҘиҜқвҖ”вҖ”вҖңеҠ дәҶжқ жқҶпјҢж—¶й—ҙе°ұдёҚжҳҜдҪ зҡ„жңӢеҸӢпјҢиҖҢжҳҜдҪ зҡ„ж•ҢдәәдәҶгҖӮвҖқд»–жҢҮеҮәз»ҸеҺҶиҝҮеҚҒе№ҙеүҚеҺ»жқ жқҶзҡ„жҠ•иө„иҖ…еҜ№жӯӨеә”жңүж·ұеҲ»дҪ“дјҡгҖӮ

гҖҖгҖҖжқЁеҫ·йҫҷз»ҷеҮәдәҶдҝқе®Ҳзҡ„е»әи®®пјҡжҷ®йҖҡжҠ•иө„иҖ…е°ҪйҮҸеҲ«зў°иһҚиө„дәӨжҳ“пјҢеӣ дёәдёҖж—ҰеёӮеңәиҪ¬еҗ‘пјҢжқ жқҶдјҡжҠҠдәҸжҚҹжҲҗеҖҚж”ҫеӨ§гҖӮ

гҖҖгҖҖдёҠиҝ°з§ҒеӢҹжңәжһ„иҙҹиҙЈдәәеҲҷе»әи®®пјҢжҷ®йҖҡжҠ•иө„иҖ…еә”еҮҸжҢҒAиӮЎгҖҒеҲҶж•Јй…ҚзҪ®е…ЁзҗғETF并еқҡжҢҒе®ҡжҠ•пјӣдё“дёҡжңәжһ„еҲҷеә”йҖҶеҠҝеёғеұҖпјҢеҜ»жүҫйӮЈдәӣеҮәжё…жҺҘиҝ‘е°ҫеЈ°гҖҒдј°еҖје·Іи·ҢиҮіжһҒдҪҺгҖҒдёӢдёҖиҪ®еҸҜиғҪй«ҳжҲҗй•ҝзҡ„дјҳиҙЁиө„дә§гҖӮ

пјҲж–Үз« жқҘжәҗпјҡ21дё–зәӘз»ҸжөҺжҠҘйҒ“пјү

зӮ№еҮ»еә•йғЁзҡ„вҖңеҸ‘зҺ°вҖқ

дҪҝз”ЁвҖңжү«дёҖжү«вҖқ

еҚіеҸҜе°ҶзҪ‘йЎөеҲҶдә«иҮіжңӢеҸӢеңҲ

жү«жҸҸдәҢз»ҙз Ғе…іжіЁ

дёңж–№иҙўеҜҢе®ҳзҪ‘еҫ®дҝЎ