可选消费W01周度趋势解析：免税优异表现拉动增长，港股消费跌幅较大-20260105

中国 & 香港 & 美国可选消费 China (A-share) & Hong Kong & US Discretionary 可选消费 W01 周度趋势解析：免税优异表现拉动增长，港股消费跌幅较大 研究报告 Research Report 5 Jan 2026 Week 01 Discretionary Trends: Duty-Free Excellence Drives Growth, Hong Kong Consumer Stocks Decline Significantly [Table_yemei1] 观点聚焦 Investment Focus | [Table_Info] | | | | | --- | --- | --- | --- | | 股票名称 | 评级 | 股票名称 | 评级 | | 耐克 | Outperform 波司登 | | Outperform | | 美的集团 | Outperform 李宁 | | Outperform | | 京东集团 | Outperform 永辉超市 | | Outperform | | 海尔智家 | Outperform 石头科技 | | Outp ...