智通财经APP获悉，受亚洲科技股持续走强和全球股市普遍上涨的提振，新兴市场股票有望创下历史新 高。MSCI新兴市场指数周一一度上涨1.3%，有望超越五年前创下的峰值。韩美半导体和快手科技是当 日表现最佳的股票之一，涨幅均超过10%。 这一涨势反映出投资者对人工智能相关资产的强劲需求，而人工智能相关资产仍然是全球股市的焦点。 韩国和中国台湾的基准股指以及亚太地区指数也均创下新高。 新兴市场资产年初表现强劲，分析师预计，随着美国经济前景疲软对美元构成压力，这波涨势可能持续 到2026年。亚洲众多为人工智能供应链提供关键零部件的供应商也助力该地区脱颖而出。 然而，这些收益也伴随着一些问题。随着市场升温，一些大型人工智能和科技公司的股价因估值过高的 担忧而出现波动。 盛宝银行首席投资策略师Charu Chanana表示："短期来看，新兴市场可能仍能获得支撑，但走势可能较 为谨慎，波动较大，而非直线上涨。有利因素在于，亚洲科技和人工智能供应链的增长势头可能继续推 高指数，尤其是在全球风险偏好保持坚挺的情况下。" 交易员们目前正在寻找新的催化剂来推动下一轮上涨，即将公布的美国经济数据和关键企业财报将为市 场健康状况提供线 ...

Core Viewpoint - The article discusses the rapid growth and potential of "manga dramas," a new form of animated short series that is gaining popularity among young audiences, particularly on platforms like Douyin, and how this trend is reshaping the content landscape in the video industry [5][6][11]. Industry Growth - In October 2025, Douyin reported that the new viewership for manga dramas exceeded 6.1 billion, with several series achieving over 100 million views, and the top series "Happy Hammer 2025" surpassing 1.29 billion views [6]. - The total monthly viewership for manga dramas across the internet has surpassed 10 billion, indicating explosive growth in this sector [6]. - In the first half of 2025, the number of manga dramas launched reached 3,000, with a monthly compound growth rate of 83%, and revenue growth saw a 12-fold increase [6][11]. - Multiple brokerages predict that the market size for manga dramas could exceed 20 billion yuan, potentially reaching one-third of the revenue of the live-action short drama market [6]. Market Dynamics - Major internet companies are entering the manga drama space, including traditional long-video platforms like iQIYI and Bilibili, short video platforms like Douyin and Kuaishou, and even e-commerce platforms like JD and Pinduoduo [6][11]. - The majority of current manga dramas are produced with AI involvement, significantly lowering the barriers for creators [9]. - Companies are implementing incentive policies for manga drama creators, with Douyin offering guaranteed earnings and revenue sharing for top works [9][29]. Technological Impact - The emergence of AI technology has drastically reduced the production costs and time for manga dramas, allowing for quicker turnaround and lower budgets compared to traditional animation [23][25]. - AI tools have enabled teams to produce high-quality manga dramas at a fraction of the cost and time, with production costs ranging from 10,000 to 30,000 yuan per episode [23][25]. - Despite the current limitations in precision, AI-generated manga dramas are already comparable to some film projects, meeting the expectations of most viewers [26]. Audience Insights - The audience for manga dramas is predominantly male, with over 60% of viewers aged 18-30, contrasting with the female-dominated audience of live-action short dramas [29]. - The content diversity in manga dramas is seen as a fresh stimulant for the short drama market, breaking the monotony of existing live-action content [18][33]. Future Considerations - The future of manga dramas in achieving a market size comparable to short dramas remains uncertain, with challenges in avoiding a focus solely on technology and instead fostering content innovation [31][34].

Group 1 - The core viewpoint of the article highlights a significant rise in technology stocks on the first trading day of the new year, particularly in sectors such as internet, cloud computing, big data, and consumer electronics [1] - The Hong Kong Stock Connect Internet ETF (159792) saw an intraday increase of 3.44%, with notable gains from individual stocks like Kuaishou, which rose over 11%, and Bilibili, which increased by more than 3% [1] - According to Wind data, the cumulative net inflow of southbound funds into Hong Kong stocks is projected to reach 1,404.844 billion HKD by 2025, marking a historical high [1] Group 2 - Since the launch of the Shanghai-Hong Kong Stock Connect, the total net inflow of southbound funds has exceeded 5.1 trillion HKD, indicating a strong and sustained investment trend [1] - Analysts suggest that the net inflow trend is likely to continue, supported by a synchronized easing in both China and the U.S., along with expectations of interest rate cuts by the Federal Reserve, which may enhance liquidity [1] - The Hong Kong Stock Connect Internet ETF (159792) closely tracks the Hong Kong Stock Connect Internet Index, with its top ten constituent stocks including major tech giants like Alibaba, Xiaomi, Tencent, and Meituan, which collectively account for nearly 60% of the ETF's weight [1]

Market Overview - The Hong Kong stock market opened slightly higher on January 5, with the Hang Seng Index at 26,361.44 points, up 22.97 points, a gain of 0.09% [2] - The Hang Seng Tech Index reached 5,755.28 points, increasing by 18.84 points, or 0.33% [4] Company Focus - Kuaishou-W (HK01024) saw a significant early morning rise, exceeding 10% [6] - From December 15 to 30, 2025, Kuaishou repurchased a total of 9.9627 million shares for a total amount of 643 million HKD, despite a cumulative drop of 4.37% during that period [7] - In the tech sector, Alibaba rose over 2%, and Bilibili increased by more than 3% [7] - New stock Wan'an Robotics (HK06600), listed on December 30, 2022, continued to attract investment, rising over 20% in early trading and more than 50% from its issue price [7] Sector Performance - Oil and gas equipment and services stocks opened higher, with Shandong Molong rising over 13% [7] - Gold stocks were active, with Zijin Mining International increasing by over 1% [7] - Power equipment stocks opened lower, with Goldwind Technology dropping over 6% [7] - Chinese brokerage stocks generally fell, with China Merchants Securities down over 1% [7] - China Aluminum rose over 6%, and new consumption stocks rebounded, with Pop Mart up over 2% and Chow Tai Fook up over 5% [7] Market Outlook - Huatai Securities believes that the current market sentiment and liquidity environment are better than in November, increasing the likelihood of successful investments in Hong Kong stocks [9] - The firm suggests continuing to allocate to technology chains with performance expectations, as liquidity may catalyze significant growth in the next quarter [9] - The report highlights that in 2026, stock selection will focus more on fundamentals, industry conditions, and profitability, particularly in the power chain and travel sectors [9] - GF Securities' Liu Chenming team is optimistic about the Hong Kong market's rebound, noting a shift from traditional economic cycles to hard technology sectors like AI applications and new energy [9]

（文章来源：每日经济新闻） 每经AI快讯，1月5日，快手股价上涨11%，至73.50港元。 ...

2026年A股首个交易日（1月5日），重仓互联网龙头的港股互联网ETF（513770）跳空高开，强势大涨超4%突破年线！港股科网龙头多数上 涨，快手狂飙逾12%，哔哩哔哩涨超5%，贝壳、平安好医生、第四范式等齐涨超4%。 提醒：近期市场波动可能较大，短期涨跌幅不预示未来表现。请投资者务必根据自身的资金状况和风险承受能力理性投资，高度注意仓位和 风险管理。 数据来源：沪深交易所等。中证港股通互联网指数近5个完整年度的涨跌幅分别为：2020年，109.31%；2021年，-36.61%；2022 年，-23.01%；2023年，-24.74%；2024年，23.04%。指数成份股构成根据该指数编制规则适时调整，其回测历史业绩不预示指数未来表现。 风险提示：港股互联网ETF被动跟踪中证港股通互联网指数，该指数基日为2016.12.30，发布于2021.1.11，指数成份股构成根据该指数编制规 则适时调整。文中指数成份股仅作展示，个股描述不作为任何形式的投资建议，也不代表管理人旗下任何基金的持仓信息和交易动向。基金 管理人评估的该基金风险等级为R4-中高风险，适宜积极型（C4）及以上的投资者。任何在本文出现的信息（包 ...

Core Viewpoint - Kuaishou (1024.HK) experienced a significant increase of nearly 13%, reaching a peak of 74.85 HKD, marking a new high in over two months due to the launch of multiple AI product features [1] Group 1: AI Product Developments - Kuaishou has recently launched several AI product iterations, including the video O1 model, image O1 model, and the "Keling 2.6" video and digital human 2.0 features [1] - Citigroup's research report indicates that the latest Keling O1 model is expected to significantly enhance the flexibility and efficiency of user-generated videos, while also noting Kuaishou's ongoing efforts to strengthen Keling technology to maintain its leading position [1] Group 2: Analyst Ratings and Revenue Projections - Citigroup maintains a "Buy" rating for Kuaishou with a target price of 88 HKD [1] - Goldman Sachs projects that Kuaishou's AI business revenue will exceed 140 million USD by 2025, with expectations for growth to between 230 million and 240 million USD by 2026, also maintaining a "Buy" rating with a target price of 83 HKD [1]

Core Viewpoint - The Hong Kong Internet ETF (513770) experienced a strong opening on January 5, 2026, with a jump of over 4%, indicating positive market sentiment towards internet leaders in Hong Kong [1][4]. Group 1: Market Performance - The Hong Kong Internet ETF (513770) surged over 4% and broke through the annual line, with major internet stocks like Kuaishou rising over 12% and Bilibili increasing by more than 5% [1][4]. - The ETF's latest price-to-earnings ratio (PE) is 25.31, which is significantly lower than the 5-year average of 29.34%, highlighting its value compared to other indices like the ChiNext and Nasdaq [3][7]. - The ETF's average daily trading volume in 2025 was nearly 600 million yuan, supporting T+0 trading and indicating good liquidity [8]. Group 2: Economic Context - Recent expectations of interest rate cuts by the Federal Reserve and the peak of year-end foreign exchange settlements in China have accelerated the appreciation of the RMB against the USD [3][4]. - A weaker dollar is expected to enhance global economic recovery, which may boost domestic export growth and profit improvement [3][4]. - The overall market outlook for Hong Kong stocks in 2026 is positive, with expectations of continued net inflows from foreign and southbound capital due to a favorable monetary policy environment [7][8]. Group 3: Investment Strategy - The Hong Kong Internet ETF is passively tracking the CSI Hong Kong Stock Connect Internet Index, with significant holdings in major internet companies like Alibaba, Tencent, and Xiaomi, which collectively account for over 78% of the top ten holdings [7][8]. - For investors looking to reduce volatility while still focusing on technology, the Hong Kong Large Cap 30 ETF (520560) is recommended, which combines high-growth tech stocks with stable dividend-paying companies [8].

快手股价上涨11%，至73.50港元。 来源：滚动播报 ...

消息面上，可灵年底"连环升级" ，统一多模态O1+2.6音画同出+数字人2.0。华福证券发布研报称，可灵 AI功能迭代带来商业化空间进一步提升。以可灵2.6模型为例，同样生成5秒的视频，快手1.6模型"标准 模式"收费20个灵感值，高品质模式收费35个灵感值；而可灵2.6模型，仅支持高品质模型，收费50个灵 感值。价格提升，进一步打开商业化空间。 国联民生证券则表示，快手主业稳健增长符合预期，可灵发布新版本Q4流水环比有望提升，短期黑天 鹅事件或有波动，当前位置估值性价比高，建议关注黑天鹅事件落地后的投资机会。 智通财经APP获悉，快手-W(01024)早盘涨超12%，截至发稿，涨10.19%，报73港元，成交额30.3亿港 元。 ...