专题：第二十二届中国国际金融论坛 12月19日-20日，"第二十二届中国国际金融论坛"在上海举行，主题为：数字经济时代的智能金融生态 构建。 东亚银行（中国）有限公司副行长何长明出席并演讲。 何长明介绍到，东亚银行1918年在香港成立，1920年在上海设立第一家分行，2007年成为了首批获准在 内地注册成立的外资银行之一，到今天在内地的分支机构有29家一级分行，覆盖了全国38个城市，属于 内地外资银行的前列分子。 关于ESG方面，他指出，东亚银行积极配合集团的ESG战略和我国的"双碳"目标，也宣布了净零目标 ——到2030年实现营运净零，到2050年实现融资净零。目前，银行在积极推动绿色和可持续金融方面的 发展和部署，将信贷资源投放于绿色低碳项目，促进企业向绿色低碳转型，未来也会与客户共同应对相 关气候变化。 关于ESG方面，他指出，东亚银行积极配合集团的ESG战略和我国的"双碳"目标，也宣布了净零目标 ——到2030年实现营运净零，到2050年实现融资净零。目前，银行在积极推动绿色和可持续金融方面的 发展和部署，将信贷资源投放于绿色低碳项目，促进企业向绿色低碳转型，未来也会与客户共同应对相 关气候变化。 何 ...

在美联储降息周期背景下，一个月期香港银行同业拆息(HIBOR)仍出现反弹，与有担保隔夜融资利率之 间的息差收窄。今年第四季度至今，一个月期HIBOR平均为3.19%，较第三季度高出113个基点，为银 行净利息收入提供了有力支撑。目前预计香港银行股第四季度净利息收入将超越第三季度水平，市场预 测也有望上调。 瑞银提醒，尽管香港银行股净利息收入表现有所改善，但下半年不良贷款风险亦同步上升。相应将中银 香港及东亚银行下半年的信贷成本预测上调。 瑞银发布研报称，展望2026年，对香港银行股保持谨慎看法，预期市场焦点将转向银行明年盈利前景， 其中净利息收入及信贷成本将是主要驱动因素。目前预测中银香港(02388)及东亚银行(00023)2026年净 利润增长大致持平，预计每股股息可增长2%至3%，重申对中银香港及东亚的"中性"评级，目标价则分 别由37港元及12.5港元，上调至40港元及13.5港元，以反映降息后股权成本下降。 ...

Core Viewpoint - UBS maintains a cautious outlook on Hong Kong bank stocks, projecting that the market focus will shift to banks' profit prospects for next year, with net interest income and credit costs being the main drivers [1] Group 1: Company Projections - UBS forecasts that the net profit growth for Bank of China Hong Kong (02388) and East Asia Bank (00023) will remain flat in 2026, with expected per-share dividend growth of 2% to 3% [1] - The target prices for Bank of China Hong Kong and East Asia Bank have been raised to HKD 40 and HKD 13.5, respectively, reflecting a decrease in the cost of equity following interest rate cuts [1] Group 2: Market Conditions - Despite the improvement in net interest income for Hong Kong banks, the risk of non-performing loans has increased in the second half of the year, leading to an upward adjustment in credit cost forecasts for Bank of China Hong Kong and East Asia Bank [1] - The average one-month Hong Kong Interbank Offered Rate (HIBOR) has risen to 3.19% in the fourth quarter, up 113 basis points from the third quarter, providing strong support for banks' net interest income [1] - It is anticipated that the net interest income for Hong Kong bank stocks in the fourth quarter will exceed that of the third quarter, with market forecasts likely to be revised upward [1]

展望2026年，瑞银对香港银行股保持审慎看法，预期市场焦点将转向银行明年盈利前景，当中净利息收 入及信贷成本将是主要驱动因素，目前预测中银香港及东亚银行2026年净利润增长大致持平，预计每股 股息可增长2%至3%，重申对中银香港及东亚的"中性"评级，目标价则分别由37港元及12.5港元，升至 40港元及13.5港元，以反映减息后股权成本下降。 瑞银发表研究报告指，美联储减息周期下，一个月香港银行同业拆息(HIBOR)仍反弹，与美国担保隔夜 融资利率差距收窄，第四季至今一个月HIBOR平均为3.19%，较第三季高出113个基点，为银行净利息 收入提供有力支持，目前预计香港银行股第四季净利息收入将超越第三季水平，市场预测亦有望上调。 然而瑞银提醒，虽然香港银行股净利息收入表现有所改善，但下半年不良贷款风险亦同步上升。 ...

Core Viewpoint - East Asia Bank announced a scheduled maintenance for its credit card system, which will take place from January 6, 2026, 00:50 to 02:00 Beijing time, potentially affecting all credit card functions during this period [1] Group 1 - The maintenance aims to enhance service quality for customers [1] - All functions of East Asia Bank's credit cards, including transactions and cash withdrawals, may be impacted during the maintenance window [1] - The PAY services for debit cards, such as APPLE PAY and Huawei PAY, will also be temporarily suspended [1] Group 2 - Customers are advised to make necessary arrangements in advance due to the potential service disruptions [1] - East Asia Bank expressed apologies for any inconvenience caused and appreciates customer understanding and support [1] - For inquiries, customers can contact East Asia Bank's customer service hotline at 95382 [1]

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ （来源：医学界） 转自：医学界 在重度哮喘治疗迈入生物制剂时代的背景下，疾病的异质性仍是制约治疗应答与预后的关键挑战。近期，一项基于丹麦全国真实世界数据的研 究，通过长达26年的回顾性随访与轨迹聚类分析，首次系统识别出重度哮喘患者在接受生物制剂治疗前存在的三种典型疾病演进轨迹[1]。本 文特对此研究进行解读，以期为重度哮喘个体化、精准化的干预策略提供新视角与实践路径。 轨迹分野：三类演进路径定义异质性病程 该研究纳入丹麦重度哮喘登记系统中755例接受生物制剂治疗的患者，结合1995年至2022年的处方数据库与临床随访数据，通过吸入性糖皮质 激素（ICS）治疗强度序列分析与无监督轨迹聚类，识别出三类特征鲜明的疾病演进路径，深刻诠释了重度哮喘的异质性本质[1]。 第一类为"慢性重度型"（26%），患者呈现持续高炎症负荷特征：中位病程长达35年，是三类中病程最长的群体；肺功能损害最为严重，第1 秒用力呼气容积占预计值百分比（FEV1%pred）中位数仅64%；骨质疏松症、骨折、肥胖症等与糖皮质激素暴露相关的合并症发生率显著高于 其他群体，且就 ...

智通财经APP获悉，12月16日，东亚银行(00023)发布2026年经济及投资展望，首席经济师卓亮强调香港 经济复苏趋于全面，预期香港2026年GDP增长介乎2.5%至3%；投资策略师吴永强则上调2026年恒生指 数目标水平至30800点，对应每股盈利目标为2400港元，相当于市盈率12.8倍；楼市方面，2025年香港 私人住宅售价已录得低单位数升幅，预计2026年将进一步实现高单位数增长，香港楼市回稳态势明确。 吴永强表示，港股方面较看好人工智能(AI)、新兴工业以及服务消费三大板块。针对市场高度关注的AI 泡沫问题，他认为AI仍是2026年核心投资主调，但投资焦点将从非理性追捧转向理性筛选。当前AI发 展仍处于初期阶段，成长空间充足。此外，受惠于美国持续减息、正面财富效应、港府推进盛事经济， 香港经济复苏趋势可望延续，他亦较看好香港银行、香港地产收租、香港交通运输等板块。 卓亮预期，明年香港零售销货价值录高单位数升幅，访港游客数字及人民币升值将推动因素。不过，明 年出口有机会增速放缓，受今年高基数效应影响而可能呈高单位数增幅。 楼市方面，卓亮强调利率环境是关键驱动因素。美联储减息周期延续，将成为巩固香港 ...

来源：格隆汇APP 格隆汇12月16日｜东亚银行发表投资市场展望，2026年恒生指数的目标为30800点，相当于市盈率12.8 倍，关注人工智能、新兴工业、服务消费板块。该行投资策略师吴永强指，内地反内卷措施及优化供给 政策可减少非理性竞争，并提升工业产能利用率，有助中资企业利润率改善。此外，该行预计美联储 2026年有机会降息3至4次，共75至100基点。目前港元最优惠利率已跌至低位，不会再跟随美联储降息 而下调。相比之下港元拆息仍有下行空间。 ...

Core Viewpoint - Major lenders in Hong Kong, including HSBC, Standard Chartered, and Bank of China (Hong Kong), have maintained their prime lending and savings rates despite a recent cut in the base rate by the Hong Kong Monetary Authority (HKMA) [1][2][3]. Group 1: Prime Lending Rates - HSBC and its subsidiary Hang Seng Bank, along with Bank of China (Hong Kong), have kept their prime lending rate at 5 per cent [3]. - Standard Chartered, Bank of East Asia (BEA), and Shanghai Commercial Bank have maintained their lending rate at 5.25 per cent [3]. - Analysts indicate that banks are reluctant to lower lending rates further due to already low savings rates, which could impact profitability [2][7]. Group 2: Savings Rates - HSBC, Hang Seng, BEA, and Bank of China (Hong Kong) have set their Hong Kong dollar savings rate at 0.001 per cent per annum, offering no interest for deposits below HK$5,000 (approximately US$641) [5]. - Standard Chartered has maintained a 0.001 per cent savings rate on deposits of HK$1 or more, while Shanghai Commercial Bank has the same rate for deposits of HK$10,000 or more [5]. - HSBC has also reduced its US dollar savings rate by 12.4 basis points to 0.001 per cent, aligning it with the Hong Kong dollar rate [6]. Group 3: Market Context - The HKMA has cut its base interest rate for the third time in three months, reducing it by a quarter of a percentage point to 4 per cent [8]. - This rate cut follows a similar reduction by the US Federal Reserve, which lowered its target rate to a range of 3.5 per cent to 3.75 per cent [8].

Core Points - East Asia Bank announced a scheduled maintenance for its credit card system on December 11, 2025, from 1:00 AM to 1:40 AM Beijing time [1] - During the maintenance period, all functions of East Asia China credit cards, except for UnionPay cross-bank transactions, may be affected [1] - The PAY services of East Asia Bank's debit cards, including APPLE PAY and Huawei PAY, will also be temporarily suspended during this maintenance [1] - The bank encourages customers to make necessary arrangements in advance and apologizes for any inconvenience caused [1]