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: | 2026年1月31日 | 狀態: 新提交 | | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | 公司名稱: | HSBC Holdings plc 滙豐控股有限公司 (「本公司」) | | | 呈交日期: | 2026年2月5日 | | | I. 法定/註冊股本變動 不適用 | | | | 備註： | | | | 由2009年10月1日起，英國《2006年公司法》已廢撤法定股本的概念。組織章程細則經已修訂，以刪去提及法定股本的條文。 | | | FF301 第 1 頁 共 14 頁 v 1.2.0 FF301 II. 已發行股份及/或庫存股份變動及足夠公眾持股量的確認 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) 00005 說明 普通股(每股0.50美元) 已發行股份（不包括庫存股份）數目 庫存股份數目 已發行股份總數 上月底結存 17,175,239,862 0 17,175,239,862 增加 / 減少 (-) 0 ...

汇丰银行将Alphabet目标价从370美元上调至385美元。 来源：滚动播报 ...

2月4日，当地时间周二（2月3日），传奇投资人、桥水基金创始人瑞·达利欧警告称，在地缘政治紧张 局势加剧、资本市场高度波动的背景下，世界正处在一场"资本战争"的边缘。达利欧周二在迪拜举行的 世界政府峰会上表示，当前局势已接近资本战争的临界点。所谓资本战争，是指通过贸易禁运、切断资 本市场准入，或将债务所有权作为施压工具，将资金"武器化"。"我们正站在边缘，"达利欧说。"这意 味着我们还没有真正进入资本战争，但已经非常接近，而跨过这道边界会非常容易，因为各方都存在相 互的恐惧。" 另外，知名债券分析师、前汇丰控股全球固定收益研究主管、经纪商Tradition Dubai的全球宏观顾问 Steven Major表示，由凯文·沃什领导的美联储的降息幅度可能远超市场当前预期。 在美国总统特朗普上 周表示将提名沃什出任美联储主席后，市场一度对该任命对利率的潜在影响存在些许困惑。沃什曾在美 联储担任决策者，并以忧心通胀著称，而特朗普则一直在推动大幅降息。 Major周二在接受彭博电视采 访时说："我认为，一个相当合理的假设是：如果他不属于降息阵营，就不会被考虑担任这个职位。市 场目前计入了大约两次降息，但我们可能会看到四 ...

Core Viewpoint - The recent significant rally of the Indian rupee, the largest in seven years, may provide the Reserve Bank of India (RBI) with the opportunity to rebuild its foreign-exchange reserves, although this could limit further gains following the India-US trade deal [1]. Group 1: Market Predictions and Strategies - Barclays Bank Plc and Nomura Holdings Inc. predict that the RBI will utilize the rupee's recovery to purchase dollars, with Nomura forecasting the rupee to reach 94 to a dollar by May, while Barclays aims for the same level through a three-month offshore position [2]. - Barclays advises clients to tactically short the rupee, anticipating that the current rally will not be sustainable and that equity outflows will not fully reverse [9]. - MUFG Bank Ltd. recommends clients to build long dollar/rupee positions in the medium term [9]. Group 2: RBI's Intervention and Market Dynamics - The rupee experienced a slight decline of 0.1% to 90.40 against the dollar, following a 1.4% increase attributed to a US tariff cut, which helped it recover from being Asia's worst performer last month to the region's top gainer [3]. - The RBI has a significant negative short forwards book of $62.4 billion as of December, indicating a need to repay these dollars, which contributed to the rupee's underperformance in the second quarter of 2025 [5]. - The RBI sold a net $49.5 billion in dollars in 2025 to support the rupee, while forex reserves reached a record $709 billion, aided by a weaker dollar, rising gold prices, and RBI's forex swaps [6]. Group 3: Future Outlook and Analyst Opinions - Analysts at Societe Generale predict the rupee could strengthen to 87-88 in the coming weeks, while HSBC forecasts a move to 88 by the end of March [10]. - Standard Chartered Plc suggests that while the RBI may eventually rebuild reserves, it seems unlikely at current levels, with HSBC expecting the central bank to allow the rupee to recover in the March quarter before rebuilding reserves [7]. - The RBI's recent interventions have aimed to buy rupees as the currency tested lows, with officials stating that the exchange rate is market-determined and their role is to ensure orderly movements and curb excess volatility [8].

Consumption Trends in China - Overall retail sales and consumption in China are currently weak, but there are interesting trends emerging, particularly related to aging demographics [1] - The demographic shift shows that individuals in their 60s, who were previously in their 40s and 50s, are now spending more on themselves, although they are not big spenders [2][3] Silver Spenders - The "silver spenders" demographic is characterized by older individuals who have accumulated significant cash reserves but tend to save rather than spend [3] - This group is not heavily investing in property but is more inclined to spend on healthcare services, leisure travel, and elderly care [4][5] Property Market Insights - There is an oversupply of older properties in China, but demand may shift towards new and nicer apartments [5] - A notable increase of 20% in mainland Chinese buyers entering the Hong Kong property market has been observed, indicating a potential recovery [6] Hong Kong Property Market - The Hong Kong property market is showing signs of recovery, even without significant easing of interest rates, which typically align with the Federal Reserve [7][8] - Local residents are also sitting on large cash reserves, leading to increased interest in property investments [8][9] Price Forecasts - Analysts predict a 5% increase in residential property prices in Hong Kong, with potential for initial price increases to exceed forecasts as market recovery gains momentum [10][11][12]

平安观点： 2）评级方面，基金主要减配了 BBB 级债券，增配了 AA 级债券，持仓信用 质量略有提高。（图表 9）在行业分布上，基金在多数行业维持 BBB 级为主 的配置，但在通信、周期消费和公用事业板块进行了信用下沉。（图表 10） 3）从个券角度，基金在去年四季度增持最多的公司包括 Meta、亚马逊等互 联网科技公司，或受到新债供给影响。从绝对值角度，基金较基准指数超配 较多的公司集中在银行（如摩根大通、摩根士丹利、瑞银）、汽车（如福 特、通用、现代）、烟草板块；此外基金对 TMT（如甲骨文、Meta、博通） 和健康保险等板块也维持超配状态；这些多是估值有吸引力的板块（图表 13）。 债券 2026 年 2 月 4 日 海外机构行为 25Q4 海外债基持仓: 国债仓位增加，信用债增配通讯板块 证券分析师 风险提示：1）样本偏差：基于样本的分析无法代表所有债基的行为；2）统 计误差：汇总统计可能受到个别样本的影响；3）宏观环境剧烈变化： 宏观 环境变化可能导致基金配置偏好变化。 债 券 报 告 债 券 点 评 证 券 研 究 报 告 刘璐 投资咨询资格编号 S1060519060001 LIULU979@ ...

Group 1 - The Indian rupee has experienced its strongest rally in seven years, providing the Reserve Bank of India (RBI) with an opportunity to rebuild foreign exchange reserves, which may limit further appreciation of the rupee following the US-India trade agreement [1] - Barclays and Nomura predict that the RBI will utilize this rupee rebound to purchase US dollars, with Nomura forecasting the rupee to depreciate to 94 per dollar by May, while Barclays suggests a tactical short position on the rupee [1][2] - The RBI's foreign exchange strategy under Governor Sanjay Malhotra is seen as unpredictable, complicating the assessment of the current rupee rally [1] Group 2 - The RBI sold a significant amount of dollars last year, estimated by Nomura at a net sale of $49.5 billion, to support the rupee, yet the foreign exchange reserves have reached a record high of $709 billion due to a weaker dollar and rising gold prices [2] - The key observation point is the exchange rate level at which the RBI will purchase dollars to rebuild reserves, as the central bank has intervened in the market to buy rupees during recent low points [2] - Barclays recommends a tactical short position on the rupee, citing that the current rally is unsustainable, while MUFG suggests establishing a long position on the dollar/rupee in the medium term [2] Group 3 - The primary impact on the bond market will be transmitted through the foreign exchange market and the RBI's intervention strategy, with short-term capital inflows providing the RBI an opportunity to rebuild reserves and inject liquidity into the rupee [3]

帮助游戏、AI、SaaS、数字内容等行业企业解决支付难题，实现规模化变现。 本文为IPO早知道原创 作者｜ Stone Jin 微信公众号｜ipozaozhidao 据IPO早知道消息，全球支付与变现平台Waffo日前宣布完成累计3000万美元融资，其中本次A轮融 资超过1500万美元，由总部位于伦敦的金融科技投资机构Illuminate Financial与高榕创投共同领 投，汇丰（HSBC）与BAI Capital参与投资。 本次新增投资方Illuminate Financial专注于金融科技与金融基础设施领域，其背后拥有包括纽约梅 隆银行（BNY Mellon）、欧洲清算银行（Euroclear）、摩根大通（J.P. Morgan）、标普全球 （ S&P Global ） 、 Jefferies Financial Group 、 德 意 志 交 易 所 集 团 （ Deutsche Börse Group ） 、 巴 克 莱 银 行 （ Barclays ） 、 花 旗 集 团 （ Citi ） 、 新 加 坡 交 易 所 （ SGX ） 以 及 汇 丰 （HSBC）等全球领先金融机构组成的豪华战略投 ...

HSBC Holdings PLC (NYSE:HSBC) ranks among the biggest publicly traded asset managers. On January 14, Morgan Stanley renewed coverage of HSBC Holdings PLC (NYSE:HSBC) with an Equalweight rating and HK$13.15 price target. The bank projects that HSBC’s banking net interest income for the fiscal year 2025 would be US$43.4 billion, partly offset by lower U.S. interest rates and bolstered by a recovery in HIBOR and deposit growth. Pixabay/Public Domain According to Morgan Stanley, HSBC Holdings PLC (NYSE:HSBC ...

汇丰的Song Jin Lee在一份报告中称，增加对AI行业的投资所带来的预期收益，可能会惠及股票投资 者，而非信用债投资者。他表示，AI应用的普及可能会推高AI公司的股价，但对信用债资产的影响可 能不大。"债权人更容易受到K型经济、AI相关的不确定性以及新兴杠杆周期带来的下行风险影响。" 来源：滚动播报 ...