港股點評 2026年2月5日9:30 a.m 恒指升 12 點，滬指升 51 點，標普 500 跌 35 點 港股表現反覆。恒指低開 37 點，初段曾跌 241 點一度低見 26,593 點，午市曾升 169 點高見 27,004 點，全日升 12 點或 0.05%，收 26,847 點；國指跌 4 點或 0.05%， 報 9,048 點；恒生科指跌 100 點或 1.8%，收 5,366 點。大市全日成交總額降至 2,854.33 億元。 人民銀行 4 日在公開市場開展 750 億元人民幣七天期逆回購操作，操作利率持 平於 1.4%。有 3,775 億元逆回購到期，單日淨回籠 3,025 億元。為保持銀行體系 流動性充裕，人民銀行開展 8,000 億元買斷式逆回購操作，期限為三個月。A 股 三大指數先跌後個別發展，滬指反覆穩升，創板午後跌幅收窄。滬綜指全日收 升 34 點或 0.9%，報 4,102 點，成交 1.06 萬億元。深成指全日收升 29 點或 0.2%， 報 14,156 點，成交 1.42 萬億元。創板指數全日收跌 13 點或 0.4%，報 3,311 點， 成交 6,756 億元。 供應管理 ...

Market Performance - The Hang Seng Index (HSI) rose by 59 points or 0.2%, closing at 26,834 points, after fluctuating throughout the day[1] - The Shanghai Composite Index increased by 51 points or 1.3%, closing at 4,067 points, with a total turnover of CNY 1.11 trillion[2] - The S&P 500 Index fell by 58 points or 0.8%, closing at 6,917 points, while the Nasdaq dropped by 336 points or 1.4%, closing at 23,255 points[2] Currency and Monetary Policy - The RMB/USD central parity rate was adjusted up by 87 points to 6.9608 per USD[2] - The People's Bank of China conducted a CNY 105.5 billion seven-day reverse repo operation at a rate of 1.4%, with a net withdrawal of CNY 296.5 billion for the day[2] Economic Indicators - The Hong Kong Purchasing Managers' Index (PMI) rose from 51.9 in December to 52.3 in January, indicating a continued improvement in the business environment[3] - The total revenue of restaurants in Q4 2025 was estimated at CNY 27.8 billion, a year-on-year increase of 0.9%[3] - The total estimated purchases by restaurants during the same period were CNY 9.1 billion, up 2.5% year-on-year[3] Company Updates - Xiaoma Zhixing (02026.HK) issued a profit warning, expecting a net loss between USD 69 million and USD 86 million for the past year[4] - Country Garden (02007.HK) reported nearly 170,000 housing deliveries in 2025, with a cumulative total of approximately 1.15 million units delivered from 2023 to 2025[4]

Market Performance - The Hang Seng Index (HSI) fell by 611 points or 2.2%, closing at 26,775 points[1] - The Shanghai Composite Index dropped by 102 points or 2.5%, ending at 4,015 points[1] - The S&P 500 increased by 37 points or 0.5%, closing at 6,976 points[2] Trading Volume - The total trading volume in the Hong Kong market was 34.79 billion HKD[1] - The trading volume in the Shanghai market reached 1.16 trillion CNY[1] - The Shenzhen market recorded a trading volume of 1.42 trillion CNY[1] Economic Indicators - The Composite PMI in mainland China decreased to 49.8, indicating contraction[1] - The People's Bank of China conducted a 75 billion CNY reverse repo operation at a rate of 1.4%[1] - The RMB/USD central parity rate was adjusted down by 17 points to 6.9695[1] Commodity Prices - Spot gold rose by 155 USD or 3.3%, priced at 4,819 USD per ounce[2] - Spot silver increased by 4.13 USD or 5.2%, priced at 83.55 USD per ounce[2] - Bitcoin rebounded to 78,726 USD, up 1,597 USD or 2.1%[2]

Market Performance - The Hang Seng Index (HSI) fell by 580 points or 2.08%, closing at 27,387 points[1] - The National Index dropped by 235 points or 2.5%, closing at 9,317 points[1] - The Hang Seng Tech Index decreased by 122 points or 2.1%, closing at 5,718 points[1] - Total market turnover was 301.612 billion HKD[1] Currency and Economic Indicators - The RMB/USD central parity rate was adjusted up by 93 pips to 6.9678, the highest since May 16, 2023[1] - The People's Bank of China conducted a 477.5 billion RMB reverse repo operation at a rate of 1.4%[1] - The manufacturing PMI for January 2026 fell to 49.3, below the market expectation of 50, indicating a decline of 0.8 percentage points from the previous month[2] Sector Performance - The Shanghai Composite Index closed down 40 points or 1%, at 4,117 points, with a turnover of 1.27 trillion RMB[2] - The Shenzhen Component Index fell by 94 points or 0.7%, closing at 14,205 points, with a turnover of 1.57 trillion RMB[2] - The ChiNext Index rose by 41 points or 1.3%, closing at 3,346 points, with a turnover of 726.1 billion RMB[2] Corporate Earnings Forecasts - China National Building Material (03323.HK) expects a loss of 2.3 to 4 billion RMB for the year ending December 31, 2025, compared to a profit of 2.387 billion RMB in 2024[4] - China Shenhua Energy (01088.HK) anticipates a net profit of 50.8 to 55.8 billion RMB for 2025, a decrease of 10.6% to 18.6% year-on-year[4] - CICC (03908.HK) projects a net profit of 8.542 to 10.535 billion RMB for 2025, representing a year-on-year increase of 50% to 85%[6]

Market Performance - The Hang Seng Index (HSI) rose by 141 points or 0.5%, closing at 27,968 points, after initially dropping to a low of 27,611 points[1] - The National Index increased by 40 points or 0.4%, closing at 9,552 points, while the Hang Seng Tech Index fell by 59 points or 1%, closing at 5,841 points[1] - Total market turnover for the day was approximately 331.99 billion HKD[1] Currency and Monetary Policy - The RMB/USD midpoint was adjusted down by 16 points to 6.9771[1] - The People's Bank of China conducted a 354 billion RMB seven-day reverse repo operation at a rate of 1.4%, with a net injection of 143.8 billion RMB for the day[1] A-Share Market - The Shanghai Composite Index closed at 4,157 points, up 6 points or 0.2%, with a turnover of 1.49 trillion RMB[1] - The Shenzhen Component Index fell by 42 points or 0.3%, closing at 14,300 points, with a turnover of 1.74 trillion RMB[1] - The ChiNext Index decreased by 19 points or 0.6%, closing at 3,304 points, with a turnover of 795.6 billion RMB[1] Corporate Earnings and Developments - Wan Guo Gold Group expects a profit of 1.4 to 1.5 billion RMB for the fiscal year 2025, representing a growth of 143% to 161% year-on-year[4] - Tianqi Lithium anticipates a net profit of 369 million to 553 million RMB for 2025, recovering from a loss of 7.905 billion RMB the previous year[4] - Nuo Cheng Jian Hua forecasts a total revenue of approximately 2.365 billion RMB for the year ending December 31, 2025, marking a year-on-year growth of about 134%[6]

美聯儲主席鮑威爾在記者會上，基本迴避媒體關於其央行前途及司法部啟動刑 事調查的提問，不斷重申無法提供任何回應，並稱有關提問自有適當的時機與 場合。他又提醒潛在繼任者要遠離民選政治，別被捲入民選政治漩渦，並指國 會是他們履行問責的窗口，向國會說明工作並非被動負擔，而是積極的常態義 務。 港股點評 2026年1月29日9:30 a.m 恒指升 699 點，滬指升 11 點，標普 500 升 20 點 美滙指數下滑至四年低，港股顯著上升。恒指高開 198 點後升幅擴大，全日以 高位 27,826 點收市，升 699 點或 2.6%，創逾四年半高；國指升 267 點或 2.9%， 收 9,512 點；恒生科指升 145 點或 2.5%，收 5,900 點。大市全日成交總額 3,615.23 億元。 人民幣兌美元中間價按日上調 103 點，報 6.9755 兌一美元創 2023 年 5 月以來 逾兩年半高。人民銀行 28 日在公開市場開展 3,775 億元人民幣七天期逆回購操 作，操作利率持平於 1.4%。有 3,635 億元逆回購到期，單日淨投放 140 億元。 A 股三大指數 A 股三大指數走勢分化。滬綜指全日收升 ...

政府統計處發表的對外商品貿易統計數字顯示，2025 年 12 月份本港整體出口 和進口貨值均錄得按年升幅，分別上升 26.1%和 30.6%。市場預期分別上升 16.8% 及 19.9% 港股點評 2026年1月28日9:30 a.m 恒指升 361 點，滬指升 7 點，標普 500 升 28 點 外圍股市上升。港股造好。恒指高開 97 點後升幅擴大，曾升 423 點一度高見 27,188 點，全日升 361 點或 1.4%，收 27,126 點；國指升 97 點或 1.1%，收 9,244 點；恒生科指升 28 點或 0.5%，收 5,754 點。大市全日成交總額 2,543.73 億元。 人民幣兌美元中間價按日下調 15 點，報 6,9858 兌一美元。人民銀行 27 日在公 開市場開展 4,020 億元人民幣七天期逆回購操作，操作利率持平於 1.4%。有 3,240 億元逆回購到期，單日淨投放 780 億元。A 股三大指數早市個別發展，午後全 線穩升。滬綜指全日收升 7 點或 0.2%，報 4,139 點，成交 1.29 萬億元。深成指 全日收升 13 點或 0.09%，報 14,329 點，成交 1. ...

Market Performance - The Hang Seng Index (HSI) rose by 16 points, closing at 26,765 points, an increase of less than 0.1%[1] - The Shanghai Composite Index (SSE) fell by 3 points, closing at 4,132 points, a decrease of 0.09%[1] - The total market turnover for the day was 261.699 billion HKD[1] Currency and Monetary Policy - The RMB/USD central parity rate was adjusted up by 86 points to 6.9843 per USD[1] - The People's Bank of China conducted a 150.5 billion RMB seven-day reverse repo operation at a rate of 1.4%[1] - A total of 158.3 billion RMB in reverse repos matured, resulting in a net withdrawal of 7.8 billion RMB for the day[1] U.S. Market and Political Developments - The Dow Jones increased by 313 points, or 0.6%, to 49,412 points[2] - The S&P 500 rose by 34 points, or 0.5%, to 6,950 points[2] - President Trump raised tariffs on South Korean imports from 15% to 25% due to legislative delays in approving a trade agreement[2] Corporate Actions - Zijin Mining (02899.HK) announced a plan to acquire Allied Gold Corporation for a total cash consideration of 5.5 billion CAD (approximately 28 billion RMB), representing a 5.39% premium over the closing price on January 23[3]

Market Performance - The Hang Seng Index (HSI) rose by 119 points or 0.45%, closing at 26,749 points, after reaching a high of 26,895 points during the day[1] - The National Index increased by 46 points or 0.5%, closing at 9,160 points[1] - The Hang Seng Tech Index gained 35 points or 0.6%, ending at 5,798 points[1] - Total market turnover for the day was 240.872 billion HKD[1] Currency and Economic Indicators - The Chinese yuan's central parity rate was adjusted up by 90 points to 6.9929 against the US dollar, marking a two-and-a-half-year high[2] - The People's Bank of China conducted a 125 billion CNY reverse repurchase operation with a steady interest rate of 1.4%[2] - The Shanghai Composite Index closed up 13 points or 0.3%, at 4,136 points, with a trading volume of 1.34 trillion CNY[2] - The Shenzhen Component Index rose by 112 points or 0.8%, closing at 14,439 points, with a turnover of 1.75 trillion CNY[2] Corporate Earnings and Projections - Guotai Junan International expects a net profit of 1.28 to 1.38 billion CNY for the last fiscal year, a significant increase of 265% to 293% compared to approximately 351 million CNY in 2024[4] - China Merchants Bank reported a slight increase in operating income to 337.532 billion CNY, up 0.01% year-on-year, and a net profit of 150.181 billion CNY, up 1.21%[5] - Zijin Mining announced the completion of the second phase of its Julong Copper Mine, increasing production capacity to 350,000 tons per day[4]

Market Performance - The Hang Seng Index (HSI) rose by 44 points or 0.17%, closing at 26,629 points, after initially opening 165 points higher[1] - The Shanghai Composite Index increased by 5 points or 0.1%, closing at 4,122 points, with a total turnover of 1.2 trillion yuan[1] - The S&P 500 Index gained 37 points or 0.6%, closing at 6,913 points, continuing its upward trend[2] Economic Indicators - The annualized GDP growth rate for the US in Q3 was revised to 4.4%, slightly above the initial estimate of 4.3%, marking the strongest growth since Q3 2023[3] - In January, China's narrow passenger car retail market is expected to reach approximately 1.8 million units, a month-on-month decline of 20.4% but a year-on-year increase of 0.3%[3] - The overall consumer price index in Hong Kong rose by 1.4% year-on-year in December, up from 1.2% in November, driven by increased travel and transportation costs[3] Corporate Updates - MicroPort Medical (00853.HK) expects to report a net profit of no less than $20 million for 2025, a turnaround from a net loss of $268 million the previous year, primarily due to revenue growth and cost optimization[4] - Alibaba's subsidiary, Pingtouge, is set to pursue an independent IPO, although Alibaba has not commented on the reports[4]