Simon:下只個股我們看看中芯國際(00981)，股價挨近保力加通道的中線，有些投資者認為可以搏反 彈。我們看看窩輪市場，選擇價外產品，或貼價的價外產品選擇不多，比如行使價在83元的產品不多， 行使價88元的產品只有2只。而行使價88.88元-89元以上的產品選擇多，產品價外幅度有10%以上，綜合 看，當前阻力位88.4元，選擇88.88元的產品是合適的。目前有6只可以選擇，槓桿4倍左右，而溢價看， 有些產品的溢價21.43%，而有的溢價高，處於24.43%，溢價差異比較大。在引伸波幅方面，有些產品 的引伸波幅65%，有些引伸波幅水平67-68%。從產品對比看，有些產品的引伸波幅低，比如引伸波幅 65%水平的產品,而溢價高一些，大概有24%以上。有些溢價低的21%，引伸波幅水平偏高。所以大家需 要做個平衡。沒有一個很完美的產品。我們通常會選擇低溢價、低引伸波幅和槓桿高的產品，但目前出 現這三個條件的產品是沒有的。在這種情況下，我們就會選擇有2個條件比較好的產品，比如槓桿高， 溢價低，而引伸波幅出於中等水平。目前981的價內產品也有一些選擇，槓桿在3-3.3倍。沒有價外的風 險，並且引伸波幅低一些，溢價也低一 ...

大型蓝筹股多数上涨，汇丰控股收报103.922港元，较香港收市涨1.98%;腾讯控股收报623.857港元，较香港收市涨0.46%。 智通财经APP获悉，周二美股三大指数涨跌不一。恒生指数ADR上涨，按比例计算，收报25667.98点，较香港收市涨226.63点或0.89%。 | 序号 | 名称 | 港股代码 | 最新价 | 涨跌额 | 涨跌幅 | ADR代在 | ADR换算价 | 较港股升跌 | 较港股升跌% | ADRE | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1 | 腾讯控股 | O 00700 | 621.000 | 18.000 | -2.82% | TCEHY | 623.857 | +2.857 | 0.46% | 80 | | 2 | 阿里巴巴-W | 09988 | 155.600 | -7.000 | -4.31% | BABA | 158.258 | +2.658 | 1.71% | 162 | | 3 | 建设银行 | 00939 | 7.490 | +0.170 | 2.32% | ...

Core Viewpoint - Hong Kong Stock Exchange (HKEX) is set to launch the Hang Seng Biotechnology Index Futures on November 28, 2025, aiming to enhance its derivatives product ecosystem and provide investors with effective risk management tools in the rapidly growing biotechnology sector [1][1]. Group 1: Product Launch - The new futures contract will be based on the Hang Seng Biotechnology Index, focusing on one of the fastest-growing and most dynamic sectors [1]. - The launch is contingent upon regulatory approval, indicating a structured approach to introducing new financial products [1]. Group 2: Market Context - The biotechnology industry is currently one of the hottest sectors in the capital markets, driven by technological innovation and significant global healthcare demand [1]. - Since the introduction of the listing regime reform in 2018, the biotechnology and healthcare sectors have become the fastest-growing industries on the Hong Kong capital market, with over 260 biotechnology and healthcare companies listed, totaling a market capitalization of over HKD 4.8 trillion, which is four times the approximately HKD 1.2 trillion at the end of 2018 [1][1].

Core Viewpoint - Hong Kong Exchanges and Clearing (HKEX) is set to launch the Hang Seng Biotech Index Futures on November 28, aimed at providing a risk management tool for investors interested in the rapidly growing biopharmaceutical sector in mainland China [1][3]. Group 1: Product Details - The Hang Seng Biotech Index Futures will be based on the Hang Seng Biotech Index, tracking the performance of the 30 largest Hong Kong-listed Chinese pharmaceutical and medical device companies [2]. - The futures will trade under the code HBI, with a contract multiplier of HK$50 (approximately US$6.40) per index point [5]. Group 2: Market Impact - The introduction of this futures product is part of HKEX's strategy to enhance Hong Kong's status as Asia's leading derivatives trading and risk management center, catering to the evolving needs of global investors [3][4]. - The new futures contracts are expected to increase market liquidity by attracting more institutional investors to participate in equity trading [6]. Group 3: Regulatory Aspects - The Securities and Futures Commission will waive the transaction levy for the first six months of trading for the new contracts, with margin rates to be announced later [6].

Core Viewpoint - Hong Kong Stock Exchange (HKEX) shares have dropped over 3%, currently trading at HKD 419.8, with a trading volume of HKD 4.454 billion, amid escalating trade tensions impacting market sentiment [1] Market Sentiment and Trading Environment - The recent escalation in trade tensions has led to a decline in investor risk appetite, resulting in a valuation correction for Hong Kong stocks [1] - Huatai Securities indicates that the key to short-term trading direction lies in whether market sentiment has reached an extreme point, suggesting there is still room for further release in market sentiment indicators [1] - The evolution of trade friction issues is expected to have significant variance over the next one to two weeks, indicating that high volatility may persist [1] Upcoming Earnings and Forecasts - HKEX is set to announce its third-quarter results on November 5, with UBS predicting a year-on-year revenue and net profit growth of 43% and 53%, respectively, reaching HKD 7.7 billion and HKD 4.8 billion, marking new highs [1] - UBS's forecasts exceed general market expectations by 8% and 11% [1] - Given the current market atmosphere and increased participation from southbound capital, UBS has raised its average daily trading volume forecast for HKEX from 9% to 16% for 2025 to 2027, and adjusted its earnings per share forecast upward by 7% to 12%, setting a target price of HKD 485 with a "neutral" rating [1]

智通财经APP获悉，港交所(00388)再跌超3%，截至发稿，跌3%，报419.8港元，成交额44.54亿港元。 消息面上，上周五贸易战升级态势超出市场，投资者风险偏好下降带动港股估值回调。华泰证券表示， 短期操作方向判断的关键在于市场情绪是否已经较为极致，从资金面和港股情绪指标看还有进一步释放 空间，贸易摩擦问题未来一两周演进路径方差较大，高波动行情或仍将持续。 值得注意的是，港交所将于11月5日公布第三季度业绩。瑞银预测季度收入及纯利将同比增长43%及 53%，达到77亿及48亿元，再创新高。该行预测较市场普遍预期高出8%及11%。考虑到市场气氛情况及 南下资金参与度上升，瑞银将港交所2025至2027年日均成交额预测上调9%至16%，并将港交所每股盈 利预测上调7%至12%，目标价485港元，评级"中性"。 ...

Core Viewpoint - Hong Kong Stock Exchange plans to launch the Hang Seng Biotechnology Index futures on November 28, 2025, providing investors with precise risk management tools in a rapidly growing sector [1] Group 1: Product Launch - The new futures contract will be based on the Hang Seng Biotechnology Index, which tracks the performance of the 30 largest biotechnology, pharmaceutical, and medical device companies listed in Hong Kong that are eligible for Stock Connect trading [1] - The introduction of this futures product aims to enhance investment channels in the biotechnology sector and provide effective hedging tools [1] Group 2: Market Context - The biotechnology industry is currently one of the hottest sectors in the capital markets, driven by technological innovation and global healthcare demand [1] - Since the listing reform in 2018, the biotechnology and healthcare sectors have become some of the fastest-growing industries in Hong Kong's capital market [1] Group 3: Market Statistics - There are currently over 260 biotechnology and healthcare companies listed on the Hong Kong Stock Exchange, with a total market capitalization exceeding HKD 4.8 trillion, which is four times the approximately HKD 1.2 trillion at the end of 2018 [1]

Core Viewpoint - Hong Kong Stock Exchange plans to launch the Hang Seng Biotechnology Index Futures, set to begin trading on November 28, 2025, providing investors with precise risk management tools in the rapidly growing biotechnology sector [1] Group 1: Product Launch - The new futures contract will be based on the Hang Seng Biotechnology Index, which tracks the performance of the 30 largest biotechnology, pharmaceutical, and medical device companies listed in Hong Kong that are eligible for Stock Connect trading [1] - The introduction of this futures product aims to enhance investment channels in the biotechnology industry and provide effective hedging tools [1] Group 2: Market Context - The biotechnology sector is currently one of the hottest industries in the capital markets, driven by technological innovation and significant global healthcare demand [1] - Since the listing reform in 2018, biotechnology and healthcare have become one of the fastest-growing sectors in the Hong Kong capital market, with over 260 biotechnology and healthcare companies listed, totaling a market capitalization of over HKD 4.8 trillion, which is four times the approximately HKD 1.2 trillion at the end of 2018 [1] Group 3: Strategic Goals - The launch of the Hang Seng Biotechnology Index Futures is expected to further solidify Hong Kong's position as a leading center for derivative trading and risk management in Asia [1] - The Hong Kong Stock Exchange will continue to promote market development, increase market depth, and diversify product offerings to meet the evolving needs of global investors [1]

Core Viewpoint - Hong Kong Stock Exchange plans to launch the Hang Seng Biotechnology Index Futures to enhance its derivatives product ecosystem, focusing on the rapidly growing biotechnology sector [1] Group 1: Product Launch Details - The new futures contract will start trading on November 28, 2025, based on the Hang Seng Biotechnology Index, which tracks the performance of the 30 largest biotechnology, pharmaceutical, and medical device companies listed in Hong Kong that are eligible for Stock Connect trading [1] - The product aims to provide investors with precise risk management tools and complement existing biotechnology-related products and flagship stock index derivatives offered by the Hong Kong Stock Exchange [1] Group 2: Incentives and Fees - The first six months of trading for the new product will be exempt from the Securities and Futures Commission transaction fees [1] - The margin rate for the product will be announced in due course [1]

【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不 对所包含内容的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担 全部责任。邮箱：news_center@staff.hexun.com 格隆汇10月14日｜香港交易所宣布，计划推出恒生生物科技指数，进一步优化其不断拓展的衍生产品生 态圈。新合约将于2025年11月28日开始交易，合约以恒生生物科技指数为基准，聚焦当前发展最快、最 有活力的一大板块，为投资者提供精准的风险管理工具，并与香港交易所现有的生物科技相关产品及旗 舰股票指数衍生产品组合互补。 ...