港交所文件显示，渣打集团(02888.HK)于7月10日在其他交易所耗资980万英镑回购了760,500股。 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 渣打集團有限公司 呈交日期： 2025年7月11日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 02888 | 說明 | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | 庫存股份變動 | | | | | | 事件 | 已發行股份（不包括庫存股份）數 目 | 佔有關事件前的 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 渣打集團有限公司 呈交日期： 2025年7月10日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 | 是 | | | | 證券代號 (如上市) | 02888 | 說明 | | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | | 庫存股份變動 | | | | | | 事件 | 已發行股份（不包括庫存 ...

Core Viewpoint - The notion that the dollar's status as a global reserve currency is ending may be inaccurate, as reserve managers appear to be intentionally increasing their dollar holdings [1] Group 1: Global Forex Reserves - The total global foreign exchange reserves increased by $168 billion in the first quarter, with 54% of these reserves held in dollars [1] Group 2: Reserve Managers' Behavior - Reserve managers seem to be deliberately accumulating dollars during times of pressure to prevent larger appreciation of their local currencies [1] - There is a tendency for reserve managers to buy dollars when they are relatively cheap, anticipating potential market volatility in the future [1]

Group 1 - The ICE dollar index has experienced a significant decline of nearly 11% in the first half of 2025, marking the largest drop since the Nixon era in 1973 [1] - Experts predict that the dollar index is likely to continue its downward trend for the next 6 to 7 years, with potential lows below 71.3 or stabilizing around 80, depending on the performance of other economies [1] - The weakening dollar is expected to lead to a "stable but rising" trend in the RMB to USD exchange rate, which could attract more cross-border capital inflows and support the internationalization of the RMB [2][3] Group 2 - There is a noticeable trend of capital flowing out of the U.S., with many international stock markets outperforming U.S. markets this year, indicating a structural shift away from dollar assets [2] - The current global investment environment is characterized by uncertainty, with a focus on "de-dollarization" leading to increased capital inflows into emerging markets, particularly in Asia [3] - The outlook for Chinese assets remains positive, supported by favorable fiscal policies and a low-interest-rate environment, which is expected to attract more capital into the stock market [3]

主题问题方面，仅约10%的受访者表示美国加征关税对其业务造成实质直接影响。值得注意的是，关税 暂缓及豁免措施在一定程度上减轻了冲击，可见维持中美贸易休战十分重要，也凸显了在第三季度迅速 敲定其他双边贸易协议的必要性。 在营商影响方面，41%的受访者表示因美国加征关税，将延迟落实业务计划。其他主要影响包括"物流 或海关流程严重受阻，变数太多难以应对"（35%），以及"生意流失，客户转投其他较少受关税影响的 市场"（30%）。同时，32%的受访者表示会增加内销，是最常见应对美国关税冲击及相关不确定性的 方式。 智通财经APP获悉，渣打银行与香港贸易发展局联合公布最新的渣打大湾区营商景气指数（GBAI）， 显示大湾区企业当前的营商表现在美国"解放日"关税冲击后仍具韧性，主要受惠于提前安排的订单及生 产活动。同时，企业在季内对未来展望持审慎态度，整体预期有所放缓但仍属正面。 香港贸发局研究总监范婉儿表示："虽然调查是在4月美国'解放日'对全球多国提高关税后不久进行，并 未涵盖近期的所有发展，但调查结果显示，大湾区企业具备韧性，可应对美国关税措施带来的影响。约 75%至80%的大湾区企业表示受到美国关税的负面影响，主要 ...

Core Viewpoint - Standard Chartered Bank's report emphasizes a positive outlook on global equities while being cautious about the US dollar's strength, suggesting a shift towards risk assets due to expected dollar weakness [2][3]. Global Stock Outlook - The bank continues to favor global stocks, particularly increasing the allocation to Asian equities (excluding Japan) due to the anticipated weakening of the dollar, which is expected to attract more capital into emerging markets [3][11]. - The chief investment officer for North Asia at Standard Chartered highlights the ongoing uncertainty in the global investment environment, with a structural risk of "de-dollarization" gaining attention [4]. Fixed Income Strategy - Standard Chartered expects the dollar's decline to enhance the appeal of emerging market local currency bonds, maintaining an overweight position in these assets [7]. - The bank views global bonds as a core portfolio component, favoring emerging market local currency government bonds while underweighting developed market investment-grade corporate bonds due to high valuations and economic uncertainty [9]. Currency Perspective - The bank predicts that cyclical factors will lead to a weaker dollar over the next 6-12 months, with the euro and yen likely benefiting from this trend [13]. - Despite the dollar's ongoing dominance, there are signs of a gradual erosion of its position due to changing trade flows and structural debt concerns [14][15]. Gold and Diversification - The report notes that gold is becoming increasingly attractive as a hedge against inflation and geopolitical uncertainty, with central banks, especially in emerging markets, increasing their gold purchases [18][19]. - According to a survey by the World Gold Council, 76% of central banks believe that gold's share in global reserves will rise over the next five years, up from 69% in the previous year [18].

（原标题：渣打银行展望下半年全球市场：美元走弱或推动新兴市场资产配置） 在美国经济"软着陆"的基本情境下，渣打认为股票仍有进一步上行空间，因此对股市的看好程度略超固 定收益。在固定收益方面，美元走弱预期有助于增加对新兴市场本币债的配置。渣打还预计，美国机构 按揭抵押证券的表现将持续优于发达市场投资级政府债。 针对中国市场，得益于财政政策支持及美元可能走弱，渣打看好科技、通信服务和非必需消费品行业， 并维持超配中国股票的建议。渣打中国财富管理部首席投资策略师王昕杰表示，相较于A股，港股（H 股）更具吸引力，主要受益于更低的估值、外资回流预期及与全球市场的更高联动性。 渣打对关键资产的观点具体如下： 债券：收益率存在"拉锯战"，对美联储减息的预期抵消了对美国预算赤字的担忧。渣打将全球债券作为 投资组合核心配置，超配新兴市场本币政府债。基于估值高企及美国经济增长不确定性导致收益率溢价 扩大风险，渣打低配发达市场投资级公司债。同时，看好新兴市场亚洲本币债、未对冲外汇风险的英国 国债和美国国库抗通胀债券。 股票：渣打维持超配全球股票的建议。贸易紧张局势缓和且盈利增长稳健，尽管关税带来影响，但通胀 仍受控。渣打将亚洲（除 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) | 第一章節 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 | | 是 | | | 證券代號 (如上市) | 02888 | 說明 | | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | | | | | 事件 | | 已發行股份（不包括庫存股份）數 目 | | 佔有關事件前的現有已發 行股份（不包括庫存股 份）數目百分比 (註3) | 庫存股份數目 | | 每股發行/出售價 (註4) | 已發行股份總數 | | 於下列日期開始時的結存(註1) | 2025年7月7日 | | 2,332,695,051 | | | 0 | | 2,332,695,051 | | 1). 購回股份 (股份購回並註銷) | ...

Macro Outlook - Standard Chartered Bank's Wealth Solutions Division released the "Global Market Outlook for the Second Half of 2025," indicating that global central bank easing, a potential soft landing for the U.S. economy, and a weaker dollar are favorable for risk assets, maintaining a positive outlook on global equities [1] - The bank expects a weaker dollar to benefit the euro, pound, yen, and 5-7 year U.S. dollar bonds, while upgrading emerging market local currency debt to overweight [1] Investment Strategy - The Chief Investment Officer for North Asia at Standard Chartered, Zheng Zifeng, highlighted the current uncertain global investment environment, emphasizing the structural risks of "de-dollarization" and the influx of funds into emerging markets due to a weaker dollar [1] - The bank suggests that investors should diversify not only across asset classes but also geographically to maintain long-term superior returns [1] Fixed Income - Standard Chartered views the bond market as a core investment allocation, overweighting emerging market local currency government bonds while underweighting developed market investment-grade corporate bonds due to high valuations and risks associated with U.S. economic growth uncertainty [2] - The bank remains positive on emerging market Asian local currency bonds, UK government bonds (unhedged), and U.S. Treasury inflation-protected securities [2] Equities - The bank continues to overweight global equities, citing easing trade tensions and robust earnings growth, despite the impact of tariffs [2] - Asian (excluding Japan) equities have been upgraded to overweight, driven by a weaker dollar attracting more funds into emerging markets [2] Currency Outlook - Standard Chartered anticipates a weaker dollar over the next 6 to 12 months, with the euro and yen likely benefiting from this trend, while the pound shows resilience [2] Commodities - In the gold market, if Middle Eastern tensions are controlled, short-term upside for gold may be limited, but it remains an important strategic hedge [3] - The bank raised its 3-month gold price forecast to $3,400 while maintaining a 12-month forecast of $3,500 [3] - For oil, Standard Chartered expects prices to stabilize around $65 per barrel in the next 3 to 12 months, with geopolitical risks potentially causing short-term spikes [3]