恒指升111點，滬指升26點，標普500升43點

Market Performance - The Hang Seng Index (HSI) rose by 111 points or 0.4%, closing at 25,801 points after reaching a high of 25,859 points during the day[1] - The Shanghai Composite Index increased by 26 points or 0.7%, closing at 3,917 points, with a total trading volume of 7,898 billion yuan[2] - The S&P 500 Index gained 43 points or 0.6%, closing at 6,878 points[2] Economic Indicators - The People's Bank of China maintained the 5-year and 1-year Loan Prime Rate (LPR) at 1.4%[2] - The Consumer Price Index (CPI) for November 2025 increased by 1.2% year-on-year, matching the previous month's increase[4] - The core inflation rate, excluding government relief measures, was 1% year-on-year, consistent with the previous month[4] Corporate Developments - Hong Kong's IPO market led globally with a total financing amount of 274.6 billion HKD from 106 companies listed as of December 19, 2025[4] - Cathay Pacific expects strong performance in the second half of the year, driven by increased capacity and stable passenger load factors[5] - Tmall reported a high single-digit decline in total sales for its retail and wholesale business in Q3 of the 2025/26 fiscal year[6]