美股三大指数集体收跌 美股三大指数集体收跌，道指跌0.2%，纳指跌0.67%，标普500指数跌0.38%。热门科技股多数下跌，特斯拉跌超4%，谷歌跌超1%，AMD涨超3%，英特 尔涨超1%。加密货币概念、半导体设备与材料跌幅居前，Strategy跌超8%，科休半导体跌超7%，科磊跌超4%，阿斯麦跌近4%，Coinbase跌超2%。煤 炭、日用消费板块走高，雅诗兰黛涨超4%，宝洁、金佰利涨超1%。 | 道琼斯 | 46602.98 | | --- | --- | | | | | 纳斯达克 22788.36 -153.30 -0.67% | | | | | | 标普500 | 6714.59 | 纳斯达克中国金龙指数收跌2.24%，热门中概股普跌，世纪互联跌超6%，万国数据跌超5%，百度跌超4%，阿里巴巴、金山云跌超3%，哔哩哔哩跌近 3%，京东、名创优品、理想汽车跌超2%。 COMEX黄金期货收涨0.79%，报4007.9美元/盎司；COMEX白银期货收跌1.64%，报47.655美元/盎司。 WTI原油期货收涨0.06%，报61.73美元/桶。布伦特原油期货收跌0.03%，报65.45美元/桶。 法国国债市场 ...

DeepSeek近期发布了新的实验性模型DeepSeek V3.2-Exp，该模型提升了训练和推理效率。据此，该模 型使DeepSeek的API(应用程式介面)成本降低了50%以上，该行认为这有助于生成式AI技术的更广泛应 用。随后，国内ASIC(特定应用积体电路)和GPU厂商如寒武纪-U(688256.SH)、华为和海光信息 (688041.SH)均宣布已完成对该新模型的适配。随着从模型到半导体的本土AI解决方案不断发展，该行 预期中芯和华虹作为中国领先的晶圆代工厂，将长期受益。 智通财经APP获悉，高盛发布研报称，对中国本土AI生态系统的持续发展持正面看法，这将有利于中芯 国际(00981)和华虹半导体(01347)在半导体领域的长期业务机遇。该行上调中芯目标价，由95港元升至 117港元，同时将华虹目标价升至117港元，均维持"买入"评级。 高盛指中国稳步扩产与技术迁移，中芯和华虹均致力于扩大产能。中芯的7nm/14nm产能正在扩张，而 华虹已宣布其下一座晶圆厂将迁移至28nm制程，未来还可能进一步升级，而持续的投资将使中芯和华 虹能够满足由AI驱动的日益增长的需求，并适应新的技术要求。 DeepSee ...

Market Overview - The Hong Kong stock market experienced a decline, with the Hang Seng Index falling by 0.67% to below 27,000 points, the Hang Seng Tech Index down by 1.1%, and the Hang Seng China Enterprises Index decreasing by 0.88% [1][3]. Technology Sector Performance - Major tech stocks such as Xiaomi, Alibaba, and JD.com saw declines of 2.09%, 2.49%, and 2.14% respectively, while NetEase and Kuaishou also dropped by over 1% [3]. Notable Stock Movements - China Gas Holdings (08246.HK) experienced a significant increase, initially rising over 300% and closing up 113.51% at HKD 0.158 per share. This surge followed an announcement of a subscription agreement for 334 million shares at a price of HKD 0.075, representing a premium of approximately 1.35% over the previous closing price [3][4]. Precious Metals Sector - The precious metals sector showed strength, with Zijin Mining International (02259) rising by 8.24% to HKD 147.2, doubling its listing price of HKD 71.59. The current spot gold price reached USD 3,948.81 per ounce, up by 1.26% [6]. Semiconductor Sector - Semiconductor companies continued their upward trend, with SMIC (0981.HK) reaching a new high of HKD 92.1, marking a 0.17% increase. Huahong Semiconductor (1347.HK) also saw a rise of 4.57%, with a year-to-date increase of 331.6% [7]. IPO Activity - The Hong Kong IPO market remains robust, with 68 companies listed in the first three quarters, a year-on-year increase of 47.83%. The total fundraising amount reached HKD 182.397 billion, a significant increase of 222.16% compared to the previous year, marking the highest level since 2021 [7].

Market Overview - The Hong Kong stock market experienced a collective decline, with the Hang Seng Index falling 0.67% to close below 27,000 points, the Hang Seng Tech Index down 1.1%, and the National Enterprises Index decreasing by 0.88% [1][3]. Gold and Silver Market - Spot gold surged over $50, reaching a historic high of $3,940 per ounce, leading to a strong performance in gold stocks, with Shandong Gold up over 5%, Chifeng Jilong Gold up over 4%, and Zijin Mining up over 2%. Zijin Gold International saw an increase of over 8%, with its stock price doubling since its IPO [1]. - Silver prices also hit a record high, with NY silver reaching $48 per ounce. China Silver Group experienced a significant intraday increase of 20%, ultimately closing up 14.29% [1]. Semiconductor Sector - The demand for AI data centers has driven semiconductor stocks higher, with SMIC rising over 2% and Hua Hong Semiconductor increasing nearly 7%, both reaching historical highs. Goldman Sachs raised the target prices for SMIC and Hua Hong Semiconductor, citing the expanding AI ecosystem in China as a growth opportunity for the semiconductor sector [1]. Cryptocurrency Market - Bitcoin reached a new all-time high, while cryptocurrency-related stocks saw mixed performance, with OK Group Chain closing up 1.3% after an intraday surge of over 18% [1]. Company Performance - In the Hong Kong Stock Connect, Jihong Co. saw an increase of 8.77%, with a reported profit growth of up to 65% in the first three quarters. MicroPort Medical gained 6.62% following the announcement of a restructuring of its cardiac management business, and Four Seasons Pharmaceutical rose 6.7% after its "Frozen Preservation" product received approval for listing [1]. - In Macau, the gaming sector showed a year-on-year revenue growth of 6%, falling short of Morgan Stanley's expected 16% growth, leading to declines in major gaming stocks such as Melco International Development down over 6% and Galaxy Entertainment down nearly 3% [2]. Consumer Sector - The consumer sector showed overall weakness, with Mengniu Dairy down 2.77%. Concerns over slowing automotive demand negatively impacted the performance of new energy vehicle stocks, with Li Auto down over 3%, XPeng down 1.84%, and NIO down 0.17% [2].

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年9月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中芯國際集成電路製造有限公司 呈交日期: 2025年10月6日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00981 | 說明 | 無 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 10,000,000,000 | USD | | 0.004 | USD | | 40,000,000 | | 增加 / 減少 (-) | | | 0 | | | | USD | | | | 本月底結存 | | | 10,000,000,000 | USD | | 0.004 | USD | | 40,000,000 ...

Group 1 - Semiconductor companies SMIC and Hua Hong Semiconductor have seen significant stock price increases, with SMIC's stock rising 1.32% to reach a new high of 92.1 HKD, marking a year-to-date increase of 189.6% and a market capitalization exceeding 730 billion HKD [1] - Hua Hong Semiconductor's stock rose by 6.8% to 93.45 HKD, also reaching a new historical high, with a year-to-date increase of 331.6% and a market capitalization surpassing 160 billion HKD [3] Group 2 - Goldman Sachs has raised the target prices for SMIC and Hua Hong Semiconductor to 117 HKD, citing the expanding AI ecosystem in China as a significant opportunity for the semiconductor sector [6] - The report indicates that as domestic AI solutions develop, both SMIC and Hua Hong Semiconductor are expected to become leading foundries in China and benefit in the long term [6] - Citigroup forecasts that AI-related sales will grow from zero to over 25% of the market share within five years, with global semiconductor sales expected to increase by 16% to a record high of 731 billion USD by 2025, driven entirely by price increases [6]

花旗亦称，五年内AI相关销售额从零增至占市场超25%份额，2025年全球半导体销售额预计增长16%至 7310亿美元创新高，但增长完全由价格驱动，出货量仍低于峰值11%，表明库存偏低、增长空间充足。 尽管半导体指数估值溢价34%，但AI效应支撑的高增长率使估值合理，本轮半导体周期仍有上升空间。 (格隆汇) 华虹半导体(1347.HK)午后涨幅扩大至6.8%，报93.45港元，续创历史新高，H股市值突破1600亿港元， 年内累涨331.6%。 格隆汇10月6日｜早盘一度跌3.85%的中芯国际(0981.HK)午后转涨，最高涨1.32%触及92.1港元，股价续 创历史新高，H股市值突破7300亿港元，年内累涨189.6%。 消息面上，高盛上调中芯国际和华虹半导体港股目标价，称中国不断扩大的AI生态为半导体带来机 遇。将两家公司的目标价均上调至117港元，此前中芯国际和华虹半导体目标价分别为95港元和87港 元。报告表示："随着本土AI解决方案的发展，从模型到半导体，我们预计中芯国际和华虹半导体将成 为中国领先的晶圆代工厂，并在长期受益。" ...

Core Viewpoint - Semiconductor companies, specifically SMIC and Hua Hong Semiconductor, are experiencing significant stock price increases and market capitalization growth due to the expanding AI ecosystem in China, which presents new opportunities for the semiconductor industry [1] Group 1: Stock Performance - SMIC's stock price initially dropped by 3.85% but later rose by 1.32%, reaching a new high of 92.1 HKD, with a year-to-date increase of 189.6% [1] - Hua Hong Semiconductor's stock price increased by 6.8% to 93.45 HKD, also achieving a new historical high, with a year-to-date increase of 331.6% [1] Group 2: Market Capitalization - SMIC's market capitalization surpassed 730 billion HKD [1] - Hua Hong Semiconductor's market capitalization exceeded 160 billion HKD [1] Group 3: Analyst Upgrades - Goldman Sachs raised the target prices for both SMIC and Hua Hong Semiconductor to 117 HKD, up from previous targets of 95 HKD and 87 HKD respectively [1] - The report indicates that the development of domestic AI solutions will position SMIC and Hua Hong Semiconductor as leading foundries in China, benefiting in the long term [1] Group 4: Industry Growth Projections - Citigroup forecasts that AI-related sales will grow from zero to over 25% of the market share within five years [1] - Global semiconductor sales are expected to increase by 16% to a record high of 731 billion USD by 2025, driven entirely by price increases, while shipment volumes remain below peak levels by 11% [1] - Despite a 34% valuation premium in the semiconductor index, the high growth rates supported by AI effects justify the valuations, indicating further upward potential in the current semiconductor cycle [1]

中芯国际港股午后转涨，早盘一度跌超3%。 ...

Core Viewpoint - SMIC's Hong Kong stock turned positive in the afternoon after a decline of over 3% in the morning session [1] Group 1 - SMIC experienced a fluctuation in its stock price, initially dropping more than 3% before recovering in the afternoon [1]