无需港股通，A股账户就能T+0买港股>> 截至发文，其他相关ETF表现如下：恒生消费ETF(513970)涨幅为0.64%，港股通汽车ETF(159323)涨幅 为1.38%，香港证券ETF(513090)涨幅为1.15%，港股科技50ETF(513980)涨幅为1.89%。 港股市场今日表现亮眼，港股通创新药ETF(159570)涨超2%，连涨3天，成交额3.62亿元，较昨日此时 放量20.76%，近1月份额增加2.72亿份，该基金支持T+0交易。 ...

Group 1 - The Hong Kong stock market has seen significant activity in 2023, particularly in Q2, with many A-share companies listing in Hong Kong, leading to increased investment through ETF products [1][2] - Since April, over 100 ETF products focused on the Hong Kong market have been launched, with nearly 60% of these products experiencing growth in their share sizes, totaling an increase of 184.04 million shares, reaching a total size of 428 billion shares [2][3] - The influx of capital from mainland investors has supported the recovery of the Hong Kong market after significant fluctuations, including a drop of over 13% in the Hang Seng Index in early April [2][3] Group 2 - Specific sectors such as technology and internet-related ETFs have shown notable growth, while healthcare and pharmaceutical-related products have seen a decline in share sizes [3][9] - The Hong Kong Internet ETF (159792) has seen a share increase of 64.78 million shares since April, making it the largest product in terms of share size among Hong Kong-focused ETFs [4][5] - Conversely, the Hang Seng Medical ETF has experienced a significant decrease of 97.75 million shares, despite a year-to-date increase of 32% in its price [10][11] Group 3 - The innovative pharmaceutical sector has attracted attention, with the Hong Kong Innovative Pharmaceutical ETF (159217) growing by 24.31 million shares, reflecting a 192% increase [7][9] - Despite the overall growth in certain ETFs, many have faced price declines, with several products tracking the Hang Seng Technology Index dropping over 5% since April [5][10] - The trend of "buying the dip" is evident in technology and internet-related ETFs, while funds have been withdrawing from healthcare and pharmaceutical sectors [3][9]

Market Overview - The Hong Kong stock market experienced a pullback last week, with major indices declining, including the Hang Seng Index which closed at 23,289.77 points, down 1.32% [1] - The volatility in the Hang Seng Index is expected to remain high due to fluctuating trade conditions, but there is optimism for a potential rise to the range of 24,000 to 26,000 points in the future [1] IPO Market - The IPO market in Hong Kong continues to thrive, with 28 companies successfully listing and raising over 76 billion HKD, a sevenfold increase compared to the same period in 2024 [2] - The number of companies waiting to go public has reached a record high, with over 140 applications submitted this year, marking a nearly 50% increase year-on-year [2] - Deloitte forecasts that around 80 new stocks will be listed in 2025, raising approximately 130 to 150 billion HKD, primarily from the AI and healthcare sectors [2] Trading Activity - The trading activity in the Hong Kong market has been notably high, with an average daily trading volume of 2,427 billion HKD in Q1 2025, a 144% year-on-year increase [3] - The Hong Kong Stock Exchange is focusing on three main categories of projects: companies already listed in Asia seeking financing, Chinese companies returning from the US market, and emerging unicorns and innovative enterprises [3] Company Spotlight: Jihong Co., Ltd. - Jihong Co., Ltd. officially listed on the Hong Kong main board on May 27, with a share price of 7.68 HKD, raising approximately 420 million HKD [4] - The company is the fifth A-share company to list on the Hong Kong Stock Exchange this year and became the first to be included in the Stock Connect on its listing day [5] - Jihong Co., Ltd. reported a revenue of 1.477 billion CNY in Q1 2025, an 11.6% increase from 1.325 billion CNY in the same period of 2024 [5] Credit Ratings - Major credit rating agencies, including S&P and Moody's, have maintained a stable outlook for Hong Kong, with Moody's upgrading its outlook from negative to stable [6] - The stability of Hong Kong's financial system is reflected in the growth of bank deposits and active capital markets, indicating strong investor confidence [6]

港股收盘，恒生指数涨1.35%，恒生科技指数涨2.46%。港股科技ETF(159751)收盘上涨1.81%，恒生港 股通ETF(159318)收盘上涨1.26%。众安在线大涨30%，小鹏汽车、美团涨超5%，泡泡玛特涨超4%。 无需港股通，A股账户就能T+0买港股>> ...

Group 1 - The regulatory environment for domestic companies going public overseas has become more transparent, efficient, and predictable, with 249 domestic companies completing overseas listing filings since the implementation of the new regulations on March 31, 2023 [1][2] - Nearly 90 of the listed companies are technology firms, primarily in sectors such as information technology, new energy, and advanced manufacturing [1] - As of May 23, 2023, there are 168 companies in the filing process, with 133 in the supplementary materials stage and 35 already accepted [1] Group 2 - The new regulations allow companies to reasonably arrange the timing of their filing applications and require that filings be completed before overseas issuance and listing [2] - The pace of overseas listing filings has accelerated, with 64 companies receiving filing notices in 2023, including seven companies in just a few days [2] - The new guidelines provide more flexibility in fundraising and foreign exchange risk management for companies going public overseas [2] Group 3 - Companies are increasingly looking to invest locally and expand globally after listing overseas, with examples like CATL planning to invest 90% of its Hong Kong IPO proceeds in projects in Hungary [3] - The new regulations aim to simplify the procedures for domestic companies going public overseas, shifting some processes from the foreign exchange bureau to banks [3][4] - Common issues in filing supplementary materials include ownership structure, shareholder information, and compliance with foreign investment regulations [4] Group 4 - Hong Kong has become the primary choice for companies going public overseas, with 127 out of 168 companies intending to list on the Hong Kong Stock Exchange [5] - The liquidity of the Hong Kong market has significantly improved, with an average daily trading volume of HKD 250.4 billion in the first four months of 2025, a 144% increase from the previous year [6] - Southbound capital has also surged into Hong Kong stocks, with a net inflow of HKD 621.36 billion in 2023, contributing to a 16.06% increase in the Hang Seng Index [6]

本周A股先扬后抑，前三天以小涨为主，最后两天连跌。上证综指全周累计下跌0.57%至3348.37点；深 综指、创业板综指、科创50、北证50全周分别下跌0.67%、1.05%、1.47%、3.68%。 A股虽然有所回落，但整体形态并未破坏，目前仍维持震荡盘整格局，操作上建议投资者继续持股观 望。 周一A股各大股指以微涨为主，大市值个股表现较平淡，而小微盘股表现强劲。周一统计局公布了4月 份经济指标，除工业产值数据优于预期外，其余多数指标表现稍弱。 就我们国内的经济情况看，中美之前畸高的关税已降去了一大部分。即使后续关税谈判前景难测，但最 坏情况已过去。个人相信A股虽然一时很难看到太大的上涨空间，但应该也没有太大的下跌空间。 周二A股小幅上涨，小微盘股表现继续领先，当天新型消费股表现较好。周二国内多家大型银行调低了 存款利率，且当天新公布的各期限5月贷款市场报价利率（LPR）均下调了10个基点。 周三A股窄幅震荡，各股指大致平收，小微盘股虽然继续上涨，但涨势已大为放缓。 周四A股普跌，之前表现强劲的小微盘股忽然大幅杀跌，不少大市值个股逆势上涨。 周五A股前三个小时表现颇为平稳，但最近一个小时跳水，收盘时所有股指 ...

Group 1 - The core viewpoint is that the Hong Kong stock market is currently in a phase of policy support and uncertainty, leading to a rebalancing situation [1] - The AH premium index has dropped to a near four-year low, with southbound capital becoming cautious and even taking profits, indicating a potential market consolidation phase due to technical overbought pressure [1] - The internal fundamentals show a "weak recovery + differentiation" characteristic, with the manufacturing PMI returning to contraction, and both resident and corporate credit demand remaining sluggish [1] Group 2 - The external environment reflects a conflict between "tactical easing" and "strategic encirclement," with the US-China tariff pause boosting risk appetite, but ongoing technology wars and export restrictions creating pressure in critical sectors [1] - Policy measures such as interest rate cuts and consumption loans are aimed at driving domestic demand recovery, particularly in service consumption and commodities [2] - The strategy suggested is to maintain a "defensive counterattack" approach, focusing on high-dividend defensive sectors and consumer sectors benefiting from policy support and events like the e-commerce "618" promotion [2]

金融界5月20日消息，周一港股承压低开后下挫，恒科指曾跌超2%，随即跌幅收窄，恒指及国指午后一 度翻红，最终均小幅收跌；周二开盘，港股恒生指数涨0.28%报23398.35点，恒生科技指数涨0.22%报 5266.61点，国企指数涨0.31%报8486.65点，红筹指数涨0.24%报3866.97点。 中信建投：国内音乐行业需求稳定，两大龙头通过社区建设和独立音乐内容扶持实现差异化，双龙头具 有长期成长潜力。看行业，相比长视频，国内音乐平台具有更良性的增长环境。一方面，音乐平台受益 于更高的迁移成本、更长的内容生命周期、更强的付费粘性；另一方面，短视频为音乐平台提供高效宣 发渠道，两者并非竞争关系。而独家版权终结降低成本压力，监管引导良性竞争，激发增长潜力。看增 长，海外产品提升增长想象空间。Spotify 的高付费率打开国内龙头收入增长空间；扶持独立音乐人策 略增强对全球三大唱片公司的议价能力，打开毛利率空间。随着国内双龙头聚焦在线音乐主业的"付费 会员和 ARPPU"双轮驱动，在良性竞争环境和行业格局下，看好业绩可持续增长。 本文源自：金融界 作者：青枫 华泰证券：往前看，美国对华关税水平低于市场预期，出 ...

美团：卖空股份从14日的608.85万股大幅攀升至16日的1211.13万股，接近翻倍。 | 明细数据 | | --- | | lili 一日期 : | 期末总股本(万股) | 区间卖空交易 | | 未平仓卖空期末值 | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | | 卖空股数(万股) | 金額(万元) ⇒ | 股数(万股) ⇒ | 金额(万元) ⇒ | 收盘价(元) ; | 涨跌幅 ◆ | | 2025-05-16 | 610,975.37 | 1,211.13 | 159,311.40 | | | 131.40 | | | 2025-05-15 | 610,975.37 | 974.56 | 132,647.67 | | | 135.40 | | | 2025-05-14 | 610,975.37 | 608.85 | 84.795.33 | | | 139.40 | | | 2025-05-13 | 610,975.37 | 1,504.07 | 208,810.66 | | | 137.40 | | | 2025-05-12 ...

Investment Rating - The report maintains an "Outperform" rating for the Hong Kong stock market [4] Core Viewpoints - The Hong Kong stock market is experiencing accelerated capital inflow, particularly benefiting the automotive and financial sectors [2] - The Hang Seng Index rose by 2.1% this week, with the automotive sector leading at +6.5% and financials at +3.7% [1][12] - Overall, 23 industries saw capital inflows, with significant contributions from automotive (+1.8 billion HKD/day) and non-bank financials (+0.9 billion HKD/day) [2] Summary by Relevant Sections Market Performance - The Hang Seng Index closed at 23,345, reflecting a weekly increase of 2.1% and a 9.1% rise over the past four weeks [12] - The automotive sector has shown strong performance, with a 58.4% increase year-to-date [16] Capital Flow - The average daily capital intensity for the Hong Kong Stock Connect was +5.2 million HKD/day, up from +1.7 million HKD/day the previous week [2] - The automotive sector is a key beneficiary of this capital flow, indicating strong investor interest [2] Earnings Forecast - The overall EPS forecast for the Hong Kong Stock Connect was revised upward by 0.8%, with 27 industries seeing upward revisions [3] - Notable upward revisions include the automotive sector (+1.5%) and financials, indicating positive earnings momentum [3]