【真灼港股名家】融资保证金水平提高，释放政策降温信号

Group 1: Market Performance - US stock market showed upward performance on Thursday, with strong earnings from technology stocks and support for artificial intelligence concepts driving a market rebound, resulting in gains across all three major indices [2] - The Hong Kong stock market experienced a slight decline, with blue-chip stocks showing mixed performance, and the index fluctuating around the 27,000-point level, maintaining active overall trading volume [2] - The People's Bank of China’s interest rate cut is expected to improve market sentiment, with the index likely to challenge the resistance at 27,200 points, while support is seen at the 26,200-point level [2] Group 2: Regulatory Changes - The Shanghai Stock Exchange, Shenzhen Stock Exchange, and Beijing Stock Exchange announced an increase in the minimum margin ratio for investor financing from 80% to 100%, effective January 19, 2026, following approval from the China Securities Regulatory Commission [3] - This adjustment aims to reduce leverage levels and protect investors' legal rights, promoting long-term stability and healthy development of the market, despite the recent increase in financing activity and market liquidity [3] - The increase in margin levels is intended to signal a policy cooling effect and is not expected to reverse the slow bull market, with anticipated minor adjustments in the overall market [3]