每日港股評析 港股早晨快訊 2026 年 3 月 27 日星期五 2012-01- 17 市場回顧 中港股市短期展望 恒指上望 25,700 點：美伊局勢暫時緩和，油價高位回落，緩解通脹疑慮， 同時個別中資企業恢復中東船運，有助穩定投資者情緒。隨中東局勢降溫， 美國宣布總統特朗普將於 5 月中訪華，同時表示國家主席習近平於年內 回訪華盛頓，市場焦點料重返中美貿易關係。另外官媒呼籲外賣平台結束 價格競爭，市監總局轉發文章，市場解讀為官方明確叫停惡性競爭的訊號， 短線提振重磅平台股，增強對大市的支持。然而，地緣政治局勢或再反覆， 目前內地政策持觀望態度，企業盈利短期難免受到商品價格、運費上漲挑 戰，加上北水未見穩定流入，牽制上行空間。恒指待企穩 250 天線後，上 望 25,700 點，相當於 1 月高位下跌至 3 月低位，反彈黃金比率 0.382 倍。 短期看好板塊 AI 股：AI 大模型密集升級，半導體行業高速增長 市場焦點 中國平安(2318)去年多賺6.5%，符預期； 外圍市況展望 美國聯儲局 3 月議息後宣布維持利率不變，符合預期。利率點陣圖顯示， 當局維持 2026 年減息一次、2027 年減息一次的 ...

市場回顧 中港股市短期展望 恒指料守 23,700 點：中東戰事較預期中為長，地緣政治不確定性持續， 國際油價急升，滯脹風險升溫，市場預期聯儲局今年轉向加息，美匯、美 債息偏強，資金或再次流出亞洲股市。另外，美國總統特朗普推動的 15% 全球關稅可能即將實施，未來 5 個月內將恢復原有稅率。因伊朗戰爭，特 朗普提出推遲訪華。內地將今年經濟增速目標小幅下調至「4.5%至 5%」 區間，符合預期，年初至今經濟數據大致穩健，短期推刺激措施機會較低， 後續觀望 4 月政治局會議釋放更多信號。港股進入業績期，科網巨頭業績 未如理想。在風險偏好偏弱的背景下，投資者對企業加快 AI 投資抱有疑 慮。短線戰線發展及油價走勢將會加劇大市波動，恒指料守 23,700 點， 相當於 2025 年 4 月低位升至 2026 年 1 月高位，按調整黃金比率 0.5 倍。 短期看好板塊 AI 股：AI 大模型密集升級，半導體行業高速增長 能源股：中東局勢未見緩和，推升石油、煤炭價格 每日港股評析 港股早晨快訊 2026 年 3 月 25 日星期三 2012-01- 17 市場焦點 英國2月CPI及核心CPI；美國MBA貸款申請指數； 快 ...

每日港股評析 港股早晨快訊 2026 年 3 月 24 日星期二 2012-01- 17 市場回顧 中港股市短期展望 AI 股：AI 大模型密集升級，半導體行業高速增長 能源股：中東局勢未見緩和，推升石油、煤炭價格 美國白宮不會確認本周是否與伊朗方面談判； 企業消息 先為達生物科技提交上市申請，美團騰訊持股； 稀宇科技(MiniMax)(0100)升級訂閱計劃，可調用全模態模型； 文遠知行(0800)全年虧損收窄至16.6億元人民幣； 敏實集團(0425)全年純利增16%；藥明康德(2359)全年盈利增1.1倍； 老鋪黃金(6181)全年純利升231%；華潤啤酒(0291)去年溢利跌29%； 恒指料守 23,700 點：中東戰事較預期中為長，地緣政治不確定性持續， 國際油價急升，滯脹風險升溫，市場預期聯儲局今年轉向加息，美匯、美 債息偏強，資金或再次流出亞洲股市。另外，美國總統特朗普推動的 15% 全球關稅可能即將實施，未來 5 個月內將恢復原有稅率。因伊朗戰爭，特 朗普提出推遲訪華。內地將今年經濟增速目標小幅下調至「4.5%至 5%」 區間，符合預期，年初至今經濟數據大致穩健，短期推刺激措施機會較低， 後續 ...

每日港股評析 港股早晨快訊 2026 年 3 月 20 日星期五 2012-01- 17 市場回顧 中港股市短期展望 恒指反彈受制 26,500 點：中東戰事仍未有結束迹象，地緣政治不確定性 持續，短期內國際油價將劇烈波動，資金或再次流出亞洲股市。另外，美 國總統特朗普推動的 15%全球關稅可能即將實施，未來 5 個月內將恢復 原有稅率。因伊朗戰爭，特朗普提出推遲訪華。內地將今年經濟增速目標 小幅下調至「4.5%至 5%」區間，符合預期，年初至今經濟數據大致穩健， 短期推刺激措施機會較低，後續觀望 4 月政治局會議釋放更多信號。港股 進入業績期，企業業績及展望將左右大市表現。技術上，恒指自 1 月起營 造頭肩頂，並於 3 月初跌穿 26,300 點頸線，惟近日進一步考驗 25,000 點 見一定支持，短期反彈阻力參考 50 天線約 26,500 點。 短期看好板塊 AI 股：AI 大模型密集升級，半導體行業高速增長 能源股：中東局勢未見緩和，推升石油、煤炭價格 企業消息 阿里巴巴(9988)上季經調整盈利跌67%，遜預期； 京東集團(9618)京東雲表示核心產品不加價，多款產品將降價； 小米集團(1810)推 ...

Market Overview - The Hang Seng Index is facing resistance at 26,500 points due to ongoing geopolitical uncertainties and potential fluctuations in international oil prices, with capital likely to flow out of Asian markets [1] - The economic growth target for mainland China has been slightly adjusted to a range of 4.5% to 5% for this year, aligning with expectations, while the opportunity for stimulus measures in the short term appears low [1] - The Hang Seng Index has formed a head-and-shoulders pattern since January, with recent support observed around 25,000 points [1] Company News - Samsung's union has voted 93% in favor of a strike, which may impact the global semiconductor supply chain [3] - Tencent reported a 17% increase in adjusted profits last year and plans to increase AI investments while potentially reducing share buybacks [3] - Alibaba Cloud has raised prices for AI services by up to 30% [3] - Baidu's AI computing services have also seen price increases of up to 30% [3] - Geely's profit rose slightly by 0.2% last year, setting a sales target of 3.45 million vehicles for this year [3] - AIA reported a 15% increase in new business value last year, which was below expectations [3] - HSBC is reportedly considering large-scale layoffs in the coming years, potentially affecting 20,000 employees [3] Macro Focus - The US Federal Reserve has decided to maintain interest rates, with expectations of one rate cut in 2026 and another in 2027, reflecting a cautious stance on monetary policy [4][7] - The Fed has adjusted its economic growth forecast for this year to 2.4%, with the unemployment rate expected to remain at 4.4% and inflation projected to rise to 2.7% [4][7] - The geopolitical situation in the Middle East is contributing to inflation concerns, which may limit the Fed's ability to cut rates further [4][7] - The US PPI for February increased by 3.4% year-on-year, exceeding expectations, indicating rising inflationary pressures [7] Industry Insights - The AI sector is experiencing rapid growth with significant upgrades in large models, driving demand in the semiconductor industry [6] - Geopolitical conflicts are disrupting aluminum supply, leading to fluctuations in aluminum prices [6] - The construction of low-altitude intelligent network systems is being promoted by the National Development and Reform Commission in China, indicating potential growth in related industries [8]

每日港股評析 港股早晨快訊 2026 年 3 月 18 日星期三 2012-01- 17 市場回顧 中港股市短期展望 恒指短期阻力參考 26,500 點：中東戰事仍未有結束迹象，地緣政治不確 定性持續，短期內國際油價將劇烈波動，資金或再次流出亞洲股市。另外， 美國總統特朗普推動的 15%全球關稅可能即將實施，未來 5 個月內將恢 復原有稅率。因伊朗戰爭，特朗普提出推遲約一個月訪華。內地將今年經 濟增速目標小幅下調至「4.5%至 5%」區間，符合預期，年初至今經濟數 據大致穩健，短期推刺激措施機會較低，後續觀望 4 月政治局會議釋放更 多信號。港股進入業績期，企業業績及展望將左右大市表現。技術上，恒 指自 1 月起營造頭肩頂，並於 3 月初跌穿 26,300 點頸線，惟近日進一步 考驗 25,000 點見一定支持，短期反彈阻力參考 50 天線約 26,500 點。 短期看好板塊 企業消息 阿里巴巴(9988)發布企業級Agent平台「悟空」； 騰訊音樂(1698)去年經調整盈利增25%，遜預期，活躍用戶下跌； 閱文集團(0772)去年經調整盈利跌25%； 萬國數據(9698)去年轉賺9.5億元人民幣； 建滔集團 ...

Market Overview - The Hang Seng Index (HSI) faces short-term resistance at 26,500 points, with geopolitical uncertainties causing volatility in international oil prices and potential capital outflows from Asian markets [2] - The Chinese government has slightly lowered its economic growth target for the year to a range of 4.5% to 5%, aligning with expectations, while the overall economic data remains stable [2] - The HSI has formed a head-and-shoulders pattern since January, recently testing support at 25,000 points, with a short-term rebound resistance around the 50-day moving average at approximately 26,500 points [2] Company News - Fast Innovation (3355) and National Technology (2701) have begun their public offerings today [3] - Li Auto (2015) reported a 93% drop in adjusted profit for the last quarter, with revenue guidance for the first quarter falling below expectations [3] - Oriental Overseas International (0316) saw a 41% decline in profit last year [3] - Swire (0019) conducted a placement of Cathay Pacific (0293) at a 9.6% discount, raising nearly 1.8 billion HKD [3] Macro Focus - The National People's Congress has concluded, passing the 14th Five-Year Plan outline and other resolutions [7] - The People's Bank of China continues to implement a moderately loose monetary policy, with recent adjustments to structural monetary policy tools showing positive effects on market confidence [7] - China has ordered an immediate halt to refined oil exports for March to address potential domestic fuel shortages due to the Middle East conflict [7] - The sales of power and energy storage batteries in China increased by 25.7% year-on-year in February, although there was a month-on-month decline of 23.9% [7] External Market Outlook - The U.S. Federal Reserve maintained interest rates in January, with a cautious stance on future adjustments based on economic data [4] - Recent U.S. economic data has been stronger than expected, raising inflation concerns due to rising oil prices amid geopolitical tensions [4] - The International Energy Agency (IEA) has significantly lowered its global oil supply growth forecast for the year due to disruptions caused by the Middle East conflict [9]

Market Overview - The Hang Seng Index (HSI) faces short-term resistance at 26,500 points, with geopolitical uncertainties causing volatility in international oil prices and potential capital outflows from Asian markets [2] - The Chinese government has slightly lowered its economic growth target for the year to a range of 4.5% to 5%, aligning with expectations, while the overall economic data remains stable [2] - The HSI has formed a head-and-shoulders pattern since January, recently testing support at 25,000 points, with a short-term rebound resistance around the 50-day moving average at approximately 26,500 points [2] Sector Focus - AI Stocks: The semiconductor industry is experiencing rapid growth due to intensive upgrades in AI large models [3] - The People's Bank of China emphasizes the need for a cautious and orderly advancement of AI applications in the financial sector, aiming to enhance digital and intelligent development momentum [6] Company News - Cathay Pacific reported a 9.5% increase in profits last year, exceeding expectations [3] - Guohua Technology is set to raise up to 3.3 billion HKD through its IPO starting today [3] - Several companies, including Oriental Overseas and Li Auto, are expected to announce their earnings today [3] Economic Indicators - The U.S. Consumer Price Index (CPI) rose by 2.4% year-on-year in February, meeting expectations [7] - The U.S. fiscal deficit surpassed 1 trillion USD as of February, although it has decreased significantly compared to the previous year [7] - The International Energy Agency (IEA) member countries agreed to release 400 million barrels of oil reserves to address market disruptions caused by geopolitical tensions [8] Investment Recommendations - There are suggestions to lower the eligibility threshold for investors in the Hong Kong Stock Connect program to enhance market liquidity and attract international capital [6]

Market Overview - The Hang Seng Index (HSI) is currently facing support at 24,696 points due to escalating geopolitical tensions, particularly the conflict between the US and Iran, and the potential implementation of a 15% global tariff by the US [2] - The Chinese government's GDP growth target for 2026 is set between 4.5% and 5%, with a focus on more proactive fiscal policies and moderate monetary easing [2] - The HSI has formed a head-and-shoulders pattern since January, and if it falls below 25,000 points, it may test the support level of 24,696 points [2] Sector Focus - The AI sector is expected to see significant growth due to intensive upgrades in AI models and the semiconductor industry [3] - The Chinese Consumer Price Index (CPI) rose by 1.3% in February, marking the highest increase in over three years, driven by food prices [6] - Major smartphone brands in China, including Xiaomi and OPPO, are planning to raise prices for new models by 600 to 1,000 RMB, with flagship models potentially increasing by 2,000 to 3,000 RMB [7] Company News - Meig Smart (3268) priced its shares at 28.86 RMB, raising approximately 1.1 billion RMB, with a public offering oversubscribed by 173.12 times [8] - Shenghong Technology (300476.SZ) is expected to list in Hong Kong in April, aiming to raise over 2 billion USD for expansion and R&D [8] - Alibaba's cloud division is accelerating the construction of a large-scale computing center in Shanghai, with a total investment of 40 billion RMB [8]

Market Overview - The Hang Seng Index (HSI) is expected to find support at 24,696 points due to escalating geopolitical tensions, particularly the conflict between the US and Iran, and the potential reimplementation of a 15% global tariff by the US [1] - The Chinese government has set a GDP growth target of 4.5% to 5% for 2026, emphasizing active fiscal policies and moderate monetary easing to stimulate economic growth [1][6] - The HSI has formed a head-and-shoulders pattern since January, and if it falls below 25,000 points, it may test the support level of 24,696 points [1] Sector Focus - The macroeconomic focus includes China's foreign exchange reserves reaching a 10-year high, with a continuous increase in gold holdings for 16 months [2][6] - The US Federal Reserve maintained interest rates in January, with a positive outlook on economic activity, suggesting a cautious approach to future rate adjustments [2] - The oil sector is expected to rebound due to disruptions in oil supply caused by the US-Iran conflict, which may also push shipping costs higher [5] Company News - Companies such as Zhaowei Electric (2692), Youlesai Shared (2649), and Aston (2715) are set to be listed on March 9 [2] - Longfor Group (0001) is seeking at least $2 billion in compensation from the Panamanian government [2] - Mengniu Dairy (2319) has issued a positive earnings forecast, while Fosun International (0656) and InnoCare Pharma (3696) have issued profit warnings [2] Economic Policies - The National Development and Reform Commission (NDRC) anticipates a GDP increment of over 6 trillion yuan for the year, supporting employment and risk prevention [6][7] - The NDRC plans to establish a national-level merger fund to enhance macroeconomic regulation efficiency [6] - The Ministry of Finance has announced a more proactive fiscal policy, with total expenditures exceeding 30 trillion yuan and new government bond issuance reaching 11.89 trillion yuan [7] Financial Sector Insights - The People's Bank of China (PBOC) is expected to implement a moderately loose monetary policy, utilizing various tools to ensure sufficient market liquidity [7] - The PBOC reported a significant reduction in the number and debt scale of financing platforms, indicating improved financial stability [7] - The banking sector's capital adequacy ratio stands at 15.5%, with a non-performing loan ratio of 1.5%, reflecting strong risk resistance capabilities [7]