港股今日早盘低开，午后三大指数悉数翻红，尾盘站稳26000关口，恒生国企指数表现较好。截止收 盘，恒生指数涨0.58%或149.18点，报26085.08点，全日成交额2104.73亿港元；恒生国企指数涨1.01%， 报9198.3点；恒生科技指数涨0.84%，报5662.46点。 东吴证券指出，市场预计12月美联储降息概率显著提升，但提示美联储不排除会采取鹰派降息，如果这 样市场可能会调整降息计价，港股反弹力度可能不及预期。但从中长期来看，恒生科技当前具有配置意 义，一方面美股AI科技叙事顾虑有所减弱；但另一方面，港股AI科技叙事仍缺热点催化。 蓝筹股表现 中国平安(02318)领涨蓝筹。截至收盘，涨6.71%，报60.45港元，成交额5.7亿港元，贡献恒指40.01点。 大摩发布研报称，将中国平安加入重点关注名单，并列为首选。大摩认为，现在更加看好中国平安，相 信平安可以抓住居民理财、医疗健康和养老领域的关键增长机会。同时，市场的主要担忧正在逐步出 清，为估值提升铺平道路。 其他蓝筹股方面，中国人寿（601628）(02628)涨5.46%，报28.22港元，贡献恒指17.12点；百度集团- SW(098 ...

Group 1 - The Hang Seng Index fell by 0.25%, down 63 points, closing at 25,872 points, while the Hang Seng Tech Index decreased by 0.20% [1] - The non-ferrous metals sector showed strong performance, with expectations of rising industry prosperity due to increasing Fed rate cut expectations. Jiangxi Copper (00358) rose over 5%, Minmetals Resources (01208) increased by 4%, China Aluminum (02600) gained 4.3%, and Liken Resources (02245) surged over 5% [1] - CGN Mining (01164) saw a rise of over 7%, driven by a significant increase in uranium prices in the US stock market, with Morgan Stanley optimistic about the company's stock price rising within 15 days [1] - Reformed Energy (02570) jumped over 9% ahead of a stock unlock next Monday, focusing on hydrogen fuel cell systems [1] Group 2 - InnoCare Pharma (02577) increased by over 6% after reaching a strategic cooperation with Onsemi, with institutions optimistic about GaN as a new direction for robotics [2] - Goldwind Technology (02208) rose over 6% during the session, with expectations of high growth in installations during the peak season, and domestic wind power installations expected to reach new heights during the 14th Five-Year Plan [2] Group 3 - Nanjing Panda Electronics (00553) rose by 6% as the 2025 Brain-Computer Interface Conference opened, marking a critical stage for domestic clinical transformation [3] Group 4 - China Oriental Group (00581) increased by 5% after investing approximately 52 million yuan to increase its stake in Jiangsu Shentong [4] Group 5 - Shenzhou International (02313) fell over 4% as institutions lowered the company's sales growth forecast for the second half of the year, with production release expected to continue reflecting in the following year [5] Group 6 - The related stocks of Moore Threads saw a decline, with Dazhong Public Utilities (01635) dropping over 7% [6] - Innovent Biologics (01801) fell over 2% after completing a global strategic cooperation with Takeda Pharmaceutical, raising approximately 777 million HKD through the issuance of 6.9138 million shares [6]

Group 1 - The Hang Seng Index fell by 0.25%, down 63 points, closing at 25,872 points, while the Hang Seng Tech Index decreased by 0.20% [1] - The trading volume in the Hong Kong stock market reached HKD 81.6 billion in the morning session [1] - The non-ferrous metals sector showed strong performance, driven by rising expectations for interest rate cuts by the Federal Reserve, with Jiangxi Copper (00358) up over 5%, Minmetals Resources (01208) up 4%, and China Aluminum (02600) up 4.3% [1] - China General Nuclear Power Corporation (01164) saw a rise of over 7%, supported by a significant increase in uranium prices in the US stock market [1] - Reformed Energy (02570) surged over 9% ahead of a stock unlock event, focusing on hydrogen fuel cell systems [1] - InnoCare Pharma (02577) increased by over 6% after forming a strategic partnership with ON Semiconductor, with institutions optimistic about GaN technology for robotics [1] - Goldwind Technology (02208) rose over 6% as the industry enters a peak installation season, with expectations for significant growth in domestic wind power installations during the 14th Five-Year Plan [1] - Nanjing Panda Electronics (00553) increased by 6% as the 2025 Brain-Computer Interface Conference opened, marking a critical phase for domestic clinical transformation [1] - China Oriental Group (00581) rose 5% after investing approximately HKD 52 million to increase its stake in Jiangsu Shentong [1] - Shenzhou International (02313) fell over 4% as institutions downgraded the company's sales growth forecast for the second half of the year, with production increases expected to manifest next year [1] Group 2 - Moole Thread's related concept stocks experienced a decline, with Dazhong Public Utilities (01635) dropping over 7% [2] Group 3 - Innovent Biologics (01801) fell over 2% after completing a global strategic partnership with Takeda Pharmaceutical, raising approximately HKD 777 million through the issuance of 6.9138 million shares [3]

Market Performance - Moer Technology, known as the "first domestic GPU stock," debuted on the STAR Market with a high opening of 468%, peaking over 500% before adjusting [1] - Nanjing Panda Electronics saw a nearly 8% increase following the announcement of the 2025 Brain-Computer Interface Conference [1] - Silver Noble Pharmaceuticals gained over 5% as it was included in the Hang Seng Composite Index, effective December 8, 2025 [1] - Western Cement rose nearly 4% after announcing a purchase agreement for $400 million in senior notes due in 2028 [1] - The non-ferrous metals sector was active, with China Aluminum up 4.14% and Jiangxi Copper up 5.47%, influenced by comments from the White House on potential interest rate cuts [1] Company Announcements - Ruifeng New Energy increased by nearly 2% after announcing a liquidation petition filed against it [2] - Zhongxin Holdings surged over 80% before settling at a 59.62% increase, as it evaluates establishing a wholly-owned subsidiary in Shenzhen [2] - Goldwind Technology rose nearly 7% following a report indicating improved cash flow in the wind power sector [2] - InnoScience gained nearly 6% after announcing a strategic partnership with ON Semiconductor to advance GaN applications [2] - Reshaping Energy increased nearly 9% as it approaches the end of its lock-up period [2] US Market Highlights - Applied Digital and Cipher Mining saw gains of 6.06% and 6.44% respectively, reflecting a recovery in the crypto mining sector [4] - AST SpaceMobile surged 18.25%, indicating strong performance in the space sector [4] - USA Rare Earth jumped 24.68% after securing supply agreements for rare earth materials, enhancing local supply chains [5] - Micron Technology fell 3.21% as it shifts focus away from consumer markets to high-performance AI chip storage [6] - NIO, XPeng, and Li Auto saw pre-market gains, with NIO's gross margin expected to rise to around 18% in Q4 [6]

有色金属概念午前表现活跃，截至发稿，江西铜业股份（00358）上涨5.35%，报35.84港元；中国铝业 （02600）上涨4.14%，报11.56港元；金力永磁（06680）上涨2.44%，报19.35港元；灵宝黄金 （03330）上涨2.21%，报17.13港元；紫金矿业（02899）上涨2.17%，报33.92港元。 来源：新浪港股 ...

2025年12月5日，有色金属概念表现活跃，再度领涨市场。截至10:18，中证工业有色金属主题指数强势 上涨1.40%，盘中涨超2%，冲击3连涨。成分股南山铝业领涨，神火股份、电投能源、中国铝业等个股 跟涨。 消息面上，美国11月ADP就业人数减3.2万人，为2023年3月以来最大降幅，预期增1万人，前值从增4.2 万人修正为增4.7万人。据CME"美联储观察"，美联储12月降息25个基点的概率接近90%，推动铜、铝 等工业金属价格走强。此外，智利国有铜业公司向美国客户提供的铜溢价创历史新高，叠加全球铜矿供 应扰动频发，LME铜价快速上行并创历史新高。 机构分析，短期而言，美联储降息决议与国内下游开工数据是核心观察点，铜价88000元/吨支撑与锌价 22850元/吨阻力位将成多空博弈关键，锡、镍需警惕高价对需求的抑制作用。中长期来看，三大变量决 定行业走向：一是美联储政策路径与美元趋势；二是国内稳增长政策对工业需求的拉动效果；三是海外 矿山供应扰动与国内产能调控力度。 银河证券表示，中国铜原料联合谈判小组（CSPT）达成共识决定2026年度降低矿铜产能负荷10%以 上，改善铜精矿供需基本面。在2026年铜冶炼 ...

银河证券此前指，2024年行业触底企稳后，2025年中美达成日内瓦协议宏观预期的修复，美国加征关 税、中国反制措施及其他资源国矿产资源管制等政策下的供应链扰动、美联储降息周期中的流动性宽 松，使有色金属价格与行业业绩增速持续提升，确立了有色金属行业进入新一轮上行周期。2026年上述 逻辑有望继续推动有色金属商品价格上涨与提升有色金属企业的盈利能力，延续有色金属行业的景气上 行行情。 智通财经APP获悉，有色金属概念表现活跃，截至发稿，中国铝业(02600)涨3.42%，报11.48港元；江西 铜业股份(00358)涨3.12%，报35.08港元；金力永磁(06680)涨3.18%，报19.49港元；灵宝黄金(03330)涨 2.21%，报17.13港元；紫金矿业(02899)涨1.08%，报33.56港元。 消息面上，美国白宫国家经济委员会主任哈塞特最新表示，美联储主席需要是一位对数据敏感的人。他 认为，下次会议将降息约25个基点。此外，受一系列疲软的就业数据影响，交易员正加大力度押注美联 储将进一步降息。高盛在最新的报告中指出，美国劳动力市场明显出现了降温迹象，美联储12月降息25 个基点已经基本板上钉钉。 ...

消息面上，美国白宫国家经济委员会主任哈塞特最新表示，美联储主席需要是一位对数据敏感的人。他 认为，下次会议将降息约25个基点。此外，受一系列疲软的就业数据影响，交易员正加大力度押注美联 储将进一步降息。高盛在最新的报告中指出，美国劳动力市场明显出现了降温迹象，美联储12月降息25 个基点已经基本板上钉钉。 银河证券此前指，2024年行业触底企稳后，2025年中美达成日内瓦协议宏观预期的修复，美国加征关 税、中国反制措施及其他资源国矿产资源管制等政策下的供应链扰动、美联储降息周期中的流动性宽 松，使有色金属价格与行业业绩增速持续提升，确立了有色金属行业进入新一轮上行周期。2026年上述 逻辑有望继续推动有色金属商品价格上涨与提升有色金属企业的盈利能力，延续有色金属行业的景气上 行行情。 有色金属概念表现活跃，截至发稿，中国铝业(02600)涨3.42%，报11.48港元；江西铜业股份(00358)涨 3.12%，报35.08港元；金力永磁(06680)涨3.18%，报19.49港元；灵宝黄金(03330)涨2.21%，报17.13港 元；紫金矿业(02899)涨1.08%，报33.56港元。 ...

Market Overview - The Hong Kong stock market opened positively in December, with all three major indices rising. The Hang Seng Index closed at 26,033.26 points, up 0.67% or 174.37 points, with a total turnover of 2,008.84 million HKD [1] - The Hang Seng China Enterprises Index rose 0.47% to 9,172.84 points, while the Hang Seng Tech Index increased by 0.82% to 5,644.76 points [1] - Huatai Securities suggests that the market is nearing a "bad news fully priced" state, indicating limited downside potential at current levels [1] Blue Chip Performance - Sunny Optical Technology (02382) led blue-chip stocks, rising 6.22% to 67.45 HKD, contributing 4.34 points to the Hang Seng Index [2] - Other notable blue-chip performers included Zijin Mining (02899) up 5.28% and JD Health (06618) up 3.93% [2] - Li Auto (02015) and China Biologic Products (01177) experienced declines of 2.29% and 1.84%, respectively, negatively impacting the index [2] Sector Highlights - Large tech stocks mostly rose, with Alibaba increasing over 2% and Tencent over 1% [3] - Precious metals saw significant price increases, with silver and copper reaching record highs, benefiting related stocks like Jiangxi Copper, which surged over 10% [3][4] - The consumer electronics sector was active, with ZTE Corporation rising nearly 14% following the release of the Doubao mobile assistant [4][5] Cryptocurrency Market - The cryptocurrency market experienced a significant drop, with Bitcoin falling below 86,000 USD and Ethereum below 2,900 USD [6] - The People's Bank of China emphasized the illegal nature of virtual currency activities, reinforcing its prohibitive stance on cryptocurrencies [6] Notable Stock Movements - Guanghe Tong (00638) saw a strong performance, rising 14.55% due to the popularity of its AI toy launched in collaboration with Huawei [7] - Zhida Technology (02650) reached a new high, increasing 6.94% after securing a significant contract for charging stations in Saudi Arabia [8] - Cat's Eye Entertainment (01896) performed well, with its film "Zootopia 2" breaking box office records in China [9] - Kintor Pharmaceutical (01888) rose 5.39% amid increased demand for high-end PCB products driven by AI [10] - New Higher Education Group (02001) fell 10.81% after announcing no dividend despite a revenue increase [12]

Market Overview - The A-share market experienced fluctuations, with the Shanghai Composite Index closing up 0.18% at 3946.74 points, while the Shenzhen Component Index slightly declined by 0.04% to 13080.09 points, and the ChiNext Index rose by 0.25% to 3076.85 points. The total trading volume across the Shanghai and Shenzhen markets reached 17,428 billion yuan [1]. Aquaculture Sector - The aquaculture sector saw a significant surge, with the water product index rising by 9.52% by the end of the trading day. Key stocks such as Guolian Aquatic (20% increase), Zhanzi Island, and Dahu Co. all hit the daily limit [2]. - The Chinese government announced a suspension of imports of Japanese seafood due to Japan's failure to provide promised quality assurance materials, which has led to a strong market reaction in the aquaculture sector [2]. - According to a report, China's marine aquaculture production is expected to exceed 37 million tons in 2024, with a per capita consumption of 26.7 kg, indicating a growing demand for high-quality protein [2]. Banking and Insurance Sectors - The banking sector showed strong performance, with China Bank rising nearly 4% to a historical high, and other banks like Everbright Bank and Ping An Bank also seeing increases of nearly 2% [4]. - Financial analysts noted that the banking sector's expansion has slowed, but there is potential for improved profitability due to regulatory support and a focus on liquidity management as the year-end approaches [4]. - The insurance sector also performed well, with major companies like China Life and China Pacific Insurance seeing gains of nearly 3% [4][5]. - A report indicated that A-share listed insurance companies are expected to achieve high growth in earnings by the third quarter of 2025, driven by a recovering capital market and improved operational efficiency [5]. Metals Sector - The metals sector, particularly precious metals, experienced strong gains, with the precious metals index rising by 5.38%. Key stocks such as Zhongjin Gold and Shandong Gold saw significant increases [7]. - International gold prices also rose, with COMEX gold futures up by 0.7% to $4095.1 per ounce, indicating a favorable outlook for the precious metals market [7]. - Analysts are optimistic about the industrial metals market, predicting continued price increases for copper and aluminum, as well as a shift in supply-demand dynamics for lithium due to rising storage demand [7].