截至2025年8月4日收盘，港股通非银ETF(513750)收涨0.49%，最新价报1.64元。拉长时间看，港股通非 银ETF自4月10日年内低点至今累计反弹上涨49.50%。 流动性方面，港股通非银ETF换手7.04%，全天成交8.82亿元。拉长时间看，截至8月4日，港股通非银 ETF近1周日均成交16.99亿元。 规模方面，港股通非银ETF最新规模达125.16亿元。资金流入方面，港股通非银ETF近5个交易日内有4 日资金净流入，合计"吸金"14.25亿元；拉长时间看，港股通非银ETF近一个月获资金净流入超72亿元。 截至8月4日，港股通非银ETF近1年净值上涨85.54%，指数股票型基金排名54/2948，居于前1.83%。从 收益能力看，截至2025年8月4日，港股通非银ETF自成立以来，最高单月回报为31.47%，最长连涨月数 为4个月，最长连涨涨幅为38.25%，上涨月份平均收益率为7.36%。截至2025年8月4日，港股通非银ETF 近3个月超越基准年化收益为15.21%。 港股通非银ETF紧密跟踪中证港股通非银行金融主题指数，中证港股通非银行金融主题指数从港股通证 券范围中选取符合非银行金融主 ...

Group 1 - The majority of stablecoin-related stocks experienced declines in the afternoon trading session, with notable drops including Yunfeng Financial down 7.24% to HKD 2.82, Guotai Junan International down 5.43% to HKD 5.4, and OSL Group down 1.83% to HKD 14.49 [1] - The Hong Kong Stablecoin Regulation officially came into effect on August 1, requiring any entity issuing fiat-backed stablecoins in Hong Kong to apply for a license from the Financial Management Commissioner [1] - Zheshang Securities highlighted that the Hong Kong Monetary Authority emphasizes three core requirements for licensing: strict compliance review, specificity, and sustainability, with the first licenses expected to be issued in early 2026, later than market expectations [1] Group 2 - Currently, the active stablecoins in Hong Kong are primarily USD-backed, such as USDT and USDC, and failure to obtain a license post-transition period will prevent these stablecoins from operating on compliant VATP exchanges in Hong Kong [2] - Citigroup projects the median market size for stablecoins in Hong Kong to be USD 16 billion, with potential fluctuations of USD 8 billion depending on various factors, including monetary expansion and increased external demand for Hong Kong stablecoins [2]

智通财经APP获悉，稳定币概念股午后多数下跌，截至发稿，云锋金融(00376)跌7.24%，报2.82港元； 国泰君安国际(01788)跌5.43%，报5.4港元；耀才证券金融(01428)跌2.53%，报11.54港元；OSL集团 (00863)跌1.83%，报14.49港元。 浙商证券还指出，当前活跃于中国香港的稳定币多属于美元稳定币，如USDT或USDC。如果过渡期结 束后相关发行商未取得牌照，也就意味着这些美元稳定币将无法在香港的合规VATP交易所运营。此 外，花旗表示，预计香港稳定币市场规模中位数为160亿美元(上下浮动80亿美元，视不同工具而定)， 上行风险来自货币总量扩张、对香港稳定币的外部需求增加及链上活动激增。 消息面上，8月1日，香港《稳定币条例草案》正式生效。《稳定币条例》实施后，任何人如在业务过程 中在香港发行法币稳定币，或在香港或以外发行宣称锚定港元价值的法币稳定币，必须向金融管理专员 申领牌照。浙商证券认为，中国香港金管局强调发牌需严格审核合规性、具体性及可持续性三大核心要 求。其中，在可持续性方面，需证明具备长期运营的财力与技术资源。由于审核流程复杂，且需确保申 请机构完全达标， ...

本文源自：金融界AI电报 港股市场稳定币概念股继续回调，其中，金涌投资跌超7%，胜利证券、众安在线、耀才证券金融跌超 4%，云锋金融、国泰君安国际、国富量子跌超3%。 ...

Core Viewpoint - The implementation of Hong Kong's "Stablecoin Regulation" marks a significant milestone for the sustainable development of the stablecoin and digital asset ecosystem in Hong Kong, with a comprehensive regulatory framework now in place for fiat-backed stablecoins [2][3]. Group 1: Regulatory Framework - The "Stablecoin Regulation" officially came into effect on August 1, establishing clear rules for the issuance and regulation of stablecoins, transitioning them from an unregulated state to mainstream financial markets [6]. - The regulation requires any institution issuing or promoting fiat-backed stablecoins in Hong Kong to operate under a license, with severe penalties for non-compliance [6]. - The Hong Kong Monetary Authority (HKMA) has set high entry barriers for license applicants, including a minimum paid-up capital of HKD 25 million and sufficient liquid assets, ensuring a robust foundation for the stablecoin industry [6][7]. Group 2: Market Performance and Investment Sentiment - Following the announcement of the regulation, there has been a surge in investment interest, with stablecoin-related stocks in both A-shares and Hong Kong stocks experiencing significant price increases, some doubling in value [3][11]. - The stablecoin index has risen by 60% year-to-date, reflecting strong market enthusiasm despite the fact that many companies are still in the early stages of developing stablecoin-related businesses [3][11]. - However, on the day the regulation was enacted, many stablecoin concept stocks saw a decline, indicating potential volatility and market correction [3][17]. Group 3: Future Prospects and Challenges - The stablecoin market has grown significantly, with a total market capitalization exceeding USD 260 billion, and projections suggest it could reach USD 3.7 trillion by 2030 [5]. - Despite the optimistic outlook, there are concerns about the over-conceptualization and bubble-like tendencies in the stablecoin market, as many companies lack practical applications and risk management capabilities [14][15]. - The HKMA has indicated that only a limited number of licenses will be issued initially, which may lead to disappointment among many applicants [9][15]. Group 4: Industry Developments and Innovations - The HKMA plans to launch a "Stablecoin Issuer Sandbox" in March 2024, allowing participants to demonstrate viable stablecoin issuance processes and robust internal controls [7]. - Major companies like Ant Group and JD.com are expected to apply for stablecoin licenses, leveraging their technological expertise and existing applications to enhance cross-border payment efficiency [8][9]. - The market has seen a trend where companies announcing intentions to explore stablecoin business have experienced significant stock price increases, indicating a speculative environment [14].

港股8月开局不利，三大指数继续承压走低，尾盘跌幅有所扩大。截止收盘，恒生指数跌1.07%或265.52 点，报24507.81点，大市交投缩减，全日成交额为2546.74亿港元；恒生国企指数跌0.88%，报8804.42 点；恒生科技指数跌1.02%，报5397.4点。全周来看，恒指累跌3.47%，国指累跌3.78%，恒科指累跌 4.94%。 东吴证券指出，往后看，市场担心海外风险上行。一是，美元资产继续上涨，或会导致全球资金减少对 中国资产的关注；二是，对等关税截止日临近，市场预期关税博弈更偏向税率"缓"+"降"。交银国际认 为，港股市场当前流动性状态仍较为充裕，估值水平保持合理，适度的市场拥挤度也为投资者提供了较 为理想的配置窗口。 蓝筹股表现 5.71港元。 1.个别快递股逆市走高。截至收盘，中通快递-W(02057)涨7.44%，报163.2港元；极兔速递-W(01519)涨 2.52%，报10.58港元。 7月29日，国家邮政局召开快递企业座谈会，就依法依规治理行业"内卷式"竞争，强化农村地区领取快 件违规收费等突出问题整治，促进行业高质量发展进行座谈交流。据现代物流报，7月17日义乌邮管局 已率先 ...

| 名称 | | 最新价 | 涨跌额 | 涨跌幅 | | --- | --- | --- | --- | --- | | 恒生指数 | 1 20 | 24507.81 | -265.52 | -1.07% | | 800000 | | | | | | 国企指数 800100 | annon | 8804.42 | -78.53 | -0.88% | | 恒生科技指数 800700 | mini | 5397.40 | -55.74 | -1.02% | 盘面上，大型科技股涨跌各异，大金融股(银行、保险、券商)、中字头等权重多数表现低迷；生物医药股全线下跌，创新药概念股跌幅明显，石油股走低。 纸业股逆势走强；反内卷驱动提价预期升温，物流股全天表现活跃，汽车股、黄金股、半导体股部分上涨。 8月1日，港股迎开门黑行情，三大指数近日来连续回调，市场情绪表现低迷。 截止收盘，恒生指数跌1.07%，国企指数跌0.88%，二者均录得4连跌，恒生科技指数跌1.02%更是录得7连跌行情。 加密货币、稳定币概念重挫，耀才证券金融跌超19%，云锋金融跌16%，连连数字跌超13%，国泰君安国际跌超10%。消息面上，香港《稳定币条例草 ...

智通财经APP获悉，港股8月开局不利，三大指数继续承压走低，尾盘跌幅有所扩大。截止收盘，恒生 指数跌1.07%或265.52点，报24507.81点，大市交投缩减，全日成交额为2546.74亿港元；恒生国企指数 跌0.88%，报8804.42点；恒生科技指数跌1.02%，报5397.4点。全周来看，恒指累跌3.47%，国指累跌 3.78%，恒科指累跌4.94%。 东吴证券指出，往后看，市场担心海外风险上行。一是，美元资产继续上涨，或会导致全球资金减少对 中国资产的关注；二是，对等关税截止日临近，市场预期关税博弈更偏向税率"缓"+"降"。交银国际认 为，港股市场当前流动性状态仍较为充裕，估值水平保持合理，适度的市场拥挤度也为投资者提供了较 为理想的配置窗口。 蓝筹股表现 中通快递-W(02057)领涨蓝筹。截至收盘，涨7.44%，报163.2港元，成交额16.51亿港元，贡献恒指7.92 点。国泰海通证券指出，过去数年，邮管局持续保障行业良性竞争环境，"反内卷"将进一步保障政策持 续性。近期义乌底价已提升，预计广东等其他地区价格竞争亦有望趋缓，将保障末端生态改善与稳定。 中长期将继续保障快递业良性价格竞争，有利 ...

恒生科技指数跌1.02%。稳定币概念股跌幅居前，耀才证券金融跌约20%，云锋金融跌约16%，金涌投 资跌约11%。英诺赛科涨约31%，英伟达最新800V架构供应商名单曝光，公司为中国唯一入选芯片企 业。部分汽车股上涨，蔚来涨约9%。 ...

港股稳定币概念股跌幅扩大，耀才证券金融跌逾20%，云锋金融跌逾14%，连连数字跌逾10%，国泰君 安国际、金涌投资跟跌。 ...