diff --git a/AssetManager.Infrastructure/Services/TencentMarketService.cs b/AssetManager.Infrastructure/Services/TencentMarketService.cs
index ed7060d..8caaeee 100644
--- a/AssetManager.Infrastructure/Services/TencentMarketService.cs
+++ b/AssetManager.Infrastructure/Services/TencentMarketService.cs
@@ -102,34 +102,46 @@ public class TencentMarketService : ITencentMarketService
         var responseBytes = await _httpClient.GetByteArrayAsync(url);
         var response = Encoding.GetEncoding("GBK").GetString(responseBytes);
 
-        if (string.IsNullOrEmpty(response) || !response.Contains("kline"))
+        if (string.IsNullOrEmpty(response))
         {
-            _logger.LogWarning("腾讯财经返回无效数据: {Symbol}", symbol);
-            return new List<MarketDataResponse>();
+            throw new Exception($"腾讯财经历史数据接口返回空数据，标的: {symbol}");
         }
 
         // 解析JSON
         var jsonStart = response.IndexOf('{');
-        if (jsonStart < 0) return new List<MarketDataResponse>();
+        if (jsonStart < 0)
+        {
+            throw new Exception($"腾讯财经历史数据接口返回非JSON格式，标的: {symbol}");
+        }
         
         var jsonStr = response.Substring(jsonStart);
-        var jsonDoc = JsonDocument.Parse(jsonStr);
+        using var jsonDoc = JsonDocument.Parse(jsonStr);
         var root = jsonDoc.RootElement;
 
+        // 检查API错误响应
+        if (root.TryGetProperty("code", out var codeEl) && codeEl.GetInt32() != 0)
+        {
+            var errMsg = root.TryGetProperty("msg", out var msgEl) ? msgEl.GetString() : "未知错误";
+            throw new Exception($"腾讯财经历史数据接口错误: {errMsg}，标的: {symbol}");
+        }
+
+        // 检查 data 字段类型（错误响应时 data 是空数组 []）
+        if (!root.TryGetProperty("data", out var data) || data.ValueKind != JsonValueKind.Object)
+        {
+            throw new Exception($"腾讯财经历史数据接口返回无效数据结构，标的: {symbol}");
+        }
+
         // 数据路径: data -> us{symbol} -> qfq -> {klineType}
         var dataPath = $"us{symbol.ToUpper()}";
-        if (!root.TryGetProperty("data", out var data) ||
-            !data.TryGetProperty(dataPath, out var stockData) ||
+        if (!data.TryGetProperty(dataPath, out var stockData) ||
             !stockData.TryGetProperty("qfq", out var qfq))
         {
-            _logger.LogWarning("腾讯财经数据结构异常: {Symbol}", symbol);
-            return new List<MarketDataResponse>();
+            throw new Exception($"腾讯财经历史数据接口无该标的K线数据，标的: {symbol}");
         }
 
         if (!qfq.TryGetProperty(klineType, out var klineData) || klineData.ValueKind != JsonValueKind.Array)
         {
-            _logger.LogWarning("腾讯财经无K线数据: {Symbol}", symbol);
-            return new List<MarketDataResponse>();
+            throw new Exception($"腾讯财经历史数据接口K线数据格式异常，标的: {symbol}");
         }
 
         var result = new List<MarketDataResponse>();