美股周三上揚，三大指數在感恩節假期前連續第四個交易日錄得升勢。道指全 日高收 314 點或 0.7%，報 47,427 點；標普 500 指數升 46 點或 0.7%，收報 6,812 點；納指亦升 189 點或 0.8%，收報 23,214 點。 消息人士報道，OPEC+可能在 30 日的會議上維持明年首季石油產量水平不變， 並就評估成員國的最大產能機制達成協議。包括沙地阿拉伯等八個國家在 4 月 至 12 月的產量目標提高約每日 290 萬桶，並在上次會議上同意明年首季暫停增 產。 大埔宏福苑五級火造成死亡人數增至 94 人，死傷者主要集中在宏昌閣和宏泰 閣，包括一名殉職消防員。截至 28 日清晨 5 時，在 78 名傷者中，有 12 人危 港股點評 2025年11月28日9:30 a.m 恒指升 17 點，滬指升 11 點，標普 500 升 46 點 港股期指結算日反覆上升，恒指高開 17 點，初段跌 105 點低見 25,822 點後回 升，午後曾升 195 點一度高見 26,123 點，全日升 17 點或不足 0.1%，收 25,945 點；國指升 2 點或 0.03%，收 9,164 點；恒生科技 ...

港股點評 2025年11月27日9:30 a.m 恒指升 33 點，滬指跌 5 點，標普 500 升 46 點 市場繼續憧憬美聯儲下月減息，港股隨外圍造好。恒指高開 152 點，初段曾升 241 點一度高見 26,136 點，午後升幅曾收窄至 12 點低見 25,907 點，全日升 33 點或 0.1%，收 25,928 點：國指升 4 點，收 9,162 點；恒生科技指數升 6 點或 0.1%，收 5,618 點。大市全日成交總額 2,070.78 億元。 人民銀行 26 日在公開市場開展 2,133 億元人民幣七天期逆回購操作，操作利率 持平於 1.4%。有 3,105 億元逆回購到期，單日淨回籠 972 億元。A 股三大指數 早市低開高走，午後個別發展，滬指最終微跌收市，深成及創板升約 1%至 2%。 滬指全日收報 3,864 點，跌 5 點或 0.2%，成交額 7,010 億元；深證成指全日報 12,907 點，升 130 點或 1%，成交額 1.08 萬億元；創業板指全日收報 3,044 點， 升 63 點或 2.1%，成交額 5,236 億元。 美股周三上揚，三大指數在感恩節假期前連續第四個交易日 ...

Market Performance - The Hang Seng Index (HSI) rose by 178 points or 0.7%, closing at 25,894 points[1] - The National Index increased by 78 points or 0.9%, closing at 9,158 points[1] - The Hang Seng Tech Index gained 66 points or 1.2%, closing at 5,612 points[1] - Total market turnover was 231.149 billion HKD[1] Currency and Monetary Policy - The RMB/USD central parity rate was adjusted up by 21 points to 7.0826[1] - The People's Bank of China conducted 10 billion RMB MLF operations and 302.1 billion RMB in 7-day reverse repos, maintaining an interest rate of 1.4%[1] - A net withdrawal of 105.4 billion RMB occurred due to 407.5 billion RMB reverse repos maturing[1] U.S. Market Reaction - The S&P 500 index increased by 60 points or 0.9%, closing at 6,765 points[2] - The Dow Jones Industrial Average rose by 664 points or 1.4%, closing at 47,112 points, marking its third consecutive day of gains[2] - The Nasdaq Composite reversed an early decline, closing up 153 points or 0.7% at 23,025 points[2] Corporate Earnings - Alibaba reported a net profit of 20.99 billion RMB for Q2, down 52.2% year-on-year, with revenue of 247.795 billion RMB, up 4.8%[4] - NIO's total revenue for Q3 was 21.794 billion RMB, up 16.7% year-on-year, with a gross profit of 3.025 billion RMB, up 50.7%[5] - Tongcheng Travel reported a revenue of 5.509 billion RMB for Q3, up 10.4% year-on-year, with a net profit of 976 million RMB, up 23%[6]

Market Performance - Hang Seng Index (HSI) rose by 496 points or 2% to close at 25,716 points, after reaching a high of 25,770 points during the day[1] - The National Index increased by 159 points or 1.8%, closing at 9,079 points[1] - The Hang Seng Tech Index gained 150 points or 2.8%, ending at 5,545 points[1] - Total market turnover was HKD 302.64 billion[1] Economic Indicators - The People's Bank of China conducted a 338.7 billion RMB seven-day reverse repurchase operation at a rate of 1.4%, with a net injection of 55.7 billion RMB for the day[1] - The RMB/USD central parity rate was adjusted up by 28 points to 7.0847[1] A-Share Market - Shanghai Composite Index closed at 3,836 points, slightly up by 1 point or 0.05%, with a turnover of 715.5 billion RMB[1] - Shenzhen Component Index rose by 47 points or 0.4%, closing at 12,585 points, with a turnover of 1.01 trillion RMB[1] - ChiNext Index ended at 2,929 points, up by 8 points or 0.3%, with a turnover of 476.2 billion RMB[1] U.S. Market Highlights - Nasdaq surged by 598 points or 2.7% to 22,872 points, marking its best performance since May 12[2] - S&P 500 increased by 102 points or 1.6% to 6,705 points[2] - Dow Jones rose by 202 points or 0.4% to 46,448 points[2] Geopolitical Developments - U.S. President Trump accepted an invitation to visit China in April, discussing topics including Ukraine and U.S. soybean purchases[2] - Tensions between China and Japan have led to the cancellation of 12 flight routes as of November 24[3]

Overall Market Performance - The Hang Seng Index dropped 615 points or 2.4%, closing at 25,220 points; the China Enterprises Index fell 223 points or 2.4%, closing at 8,919 points; the Hang Seng Tech Index declined 179 points or 3.2%, closing at 5,395 points. The total turnover of the market was HK$285.702 billion [1] - A - share market indices opened lower and continued to decline, with the Shanghai Composite Index dropping 96 points or 2.5% to 3,834 points, the Shenzhen Component Index falling 442 points or 3.4% to 12,538 points, and the ChiNext Index slumping 122 points or 4% to 2,920 points [1] - US stocks opened higher and closed up on Friday. The Dow Jones Industrial Average rose 493 points or 1.1% to 46,245 points, the Nasdaq Composite Index gained 195 points or 0.9% to 22,273 points, and the S&P 500 Index increased 64 points or 1% to 6,602 points [2] Policy and Economic Data - The People's Bank of China conducted 375 billion yuan of seven - day reverse repurchase operations on the 21st, with a net injection of 162.2 billion yuan after 212.8 billion yuan of reverse repurchases matured [1] - The central parity rate of the RMB against the US dollar was raised by 30 points to 7.0875 per US dollar [1] - In the first ten months of 2025, the actual use of foreign direct investment (FDI) was 621.93 billion yuan, with the decline narrowing slightly from 10.4% in the first nine months to 10.3%. The number of newly established foreign - funded enterprises was 53,800, a year - on - year increase of 14.7% [2] Index Component Changes - The Hang Seng Tech Index will add Leapmotor (09863.HK) and remove ASMPT (00522.HK) after the market close on December 5, 2025, effective December 8, 2025 [2][3] - The China Enterprises Index will add China Hongqiao (01378.HK), Innovent Biologics (01801.HK), and Yum China (09987.HK), and remove ENN Energy (02688.HK), Haidilao (06862.HK), and New Oriental - S (09901.HK) after the market close on December 5, 2025, effective December 8, 2025 [3] Company News - On the fourth day of its release, the total downloads of Ant Group's full - modality general AI assistant "Lingguang" exceeded one million, ranking sixth on the free app list in the Chinese App Store [3]

Market Performance - The Hang Seng Index (HSI) fell by 99 points or 0.4%, closing at 25,830 points after an initial rise to 26,045 points[1] - The Shanghai Composite Index (SSE) increased by 6 points or 0.2%, closing at 3,946 points[1] - The S&P 500 rose by 24 points or 0.4%, closing at 6,642 points after four consecutive days of decline[2] Trading Volume - The total trading volume in the Hong Kong market was 2,114.26 million HKD[1] - The trading volume for the Shanghai Composite Index was 7,209 million CNY, while the Shenzhen Component Index had a volume of approximately 10,000 million CNY[1] Economic Indicators - The People's Bank of China conducted a 3,105 million CNY reverse repurchase operation at a rate of 1.4%, resulting in a net injection of 1150 million CNY[1] - The RMB/USD midpoint was adjusted down by 16 points to 7.0872[1] Company Earnings - ZTO Express reported a revenue of 11.865 billion CNY for Q3, up 11.1% year-on-year, with a net profit of 2.524 billion CNY, an increase of 5.3%[3] - Lenovo Group achieved a record revenue of 39.282 billion USD for the interim period, up 18% year-on-year, with a net profit of 846 million USD, a 40.5% increase[3] - Kuaishou reported a net profit of 4.488 billion CNY for Q3, up 37.3% year-on-year, with an adjusted net profit margin of 14%[4]

Market Performance - Hang Seng Index (恒指) fell by 454 points or 1.7%, closing at 25,930 points[1] - Shanghai Composite Index (滬指) decreased by 32 points or 0.8%, ending at 3,939 points[1] - S&P 500 dropped by 55 points or 0.8%, closing at 6,617 points, marking the longest losing streak since August[2] Trading Volume and Currency - Total market turnover in Hong Kong was HKD 242.11 billion[1] - People's Bank of China conducted a reverse repurchase operation of CNY 407.5 billion at a rate of 1.4%[1] - The RMB/USD midpoint was adjusted down by 40 pips to 7.0856[1] Company Performance - Xiaomi (01810.HK) reported a non-IFRS net profit increase of 80.9% year-on-year to CNY 11.311 billion, with revenue rising 22.3% to CNY 113.121 billion[2] - Pinduoduo (PDD.US) saw a stock price drop of 7.3% after reporting Q3 revenue of CNY 108.28 billion, below market expectations[3] - Baidu (09888.HK) reported a net loss of CNY 11.232 billion for Q3, compared to a net profit of CNY 7.632 billion in the same period last year[3] Regulatory and Economic Factors - Concerns over high valuations in AI-related stocks contributed to the decline in technology stocks[2] - Electricity rates in Hong Kong are set to decrease by an average of 3.7 cents per kWh starting January 2026[2]

港股點評 2025年11月18日9:30 a.m 恒指跌 188 點，滬指跌 18 點，標普 500 跌 61 點 恒指低開 130 點，初段跌幅收窄至 40 點高見 26,531 點，午後跌幅擴大至 320 點 低見 26,252 點。全日跌 188 點或 0.7%，收 26,384 點；國指跌 69 點或 0.74%，收 9,328 點；恒生科技指數跌 55 點或 1%，報 5,756 點。大市全日成交總額 2,176.13 億元。 人民銀行 17 日在公開市場開展 2,830 億元人民幣七天期逆回購操作，操作利率 持平於 1.4%。另有 1,199 億元逆回購到期，單日淨投放 1,631 億元。人民幣兌美 元中間價按日上調 9 點，報 7.0816 兌一美元。A 股三大指數低開 0.05%至 0.5% 後反覆下跌。滬指全日收報 3,972 點，跌 18 點或 0.5%，成交額 8,057 億元；深 證成指全日收報 13,202 點，跌 14 點或 0.1%，成交額逾 1.1 萬億元；創業板指全 日收報 3,105 點，跌 6 點或 0.2%，成交額 4,866 億元。 小鵬汽車(09868.HK) (X ...

Market Performance - The Hang Seng Index rose by 226 points or 0.8%, closing at 26,922 points, after reaching a high of 27,016 points[1] - The Shanghai Composite Index fell by 2 points or 0.07%, closing at 4,000 points, with a total trading volume of 840.5 billion yuan[1] - The total trading volume in the Hong Kong market was 236.395 billion yuan[1] Economic Indicators - The People's Bank of China conducted a 195.5 billion yuan reverse repurchase operation at a rate of 1.4%, resulting in a net injection of 130 billion yuan for the day[1] - The RMB/USD central parity rate was adjusted up by 33 points to 7.0833[1] Corporate Earnings - Manulife Financial reported a net income of 1.799 billion CAD for Q3, a year-on-year decrease of 2.2%, while core earnings increased by 11.3% to 2.035 billion CAD[3] - Samsonite's Q3 sales revenue was 873 million USD, a slight decrease of 0.6% year-on-year, with net profit increasing by 11% to 73.5 million USD[3] - China Resources Land's total contract sales in October were approximately 15.2 billion yuan, a year-on-year decrease of 51%[3]

Market Performance - Hang Seng Index (HSI) rose by 47 points or 0.18%, closing at 26,696 points[1] - Shanghai Composite Index (SSE) fell by 15 points or 0.4%, closing at 4,002 points[1] - Total market turnover in Hong Kong was 210.23 billion HKD[1] Economic Indicators - People's Bank of China conducted a 403.8 billion CNY reverse repurchase operation at a rate of 1.4%[1] - The net injection for the day was 286.3 billion CNY after 117.5 billion CNY of reverse repos matured[1] - The RMB/USD central parity rate was adjusted down by 10 pips to 7.0866[1] Sector Performance - The Hang Seng Tech Index increased by 8 points or 0.15%, closing at 5,924 points[1] - A-share indices showed mixed results, with the ChiNext Index dropping over 1%[1] Automotive Industry - In the first ten months of the year, China's new energy vehicle sales exceeded 50% of total car sales for the first time, reaching 51.6% in October[3] - New energy vehicle exports totaled 2.014 million units, marking a year-on-year increase of 90.4%[3] Company Performance - Hesai Technology (02525.HK) reported a net profit of 256 million CNY for Q3, compared to a net loss of 70.4 million CNY in the same period last year[3] - Xiaomi (01810.HK) reported that its total payment amount during the "Double Eleven" shopping festival exceeded 29 billion CNY[3]