1月8日，港股市场继续下挫。 截至收盘，恒生指数报收26149.31点，下跌309.54点，跌幅1.17%。 焦点公司方面，致浩达控股（HK01707）股价诡异拉升，盘中最大涨幅达到120%，最终收盘涨幅超过 94.29%。截至今日收盘，致浩达控股市值约1.14亿港元。 恒生科技指数报收5678.34点，下跌60.18点，跌幅1.05%。 值得注意的是，致浩达控股目前的控股股东陈志，正是刚刚落网并已被遣送回国的太子集团创始人、电 诈头目陈志。 致浩达控股为一家工程企业，2017年在港交所上市。但仅一年多后，其创始人邱建荣突然抛售全部股 份，接盘者正是陈志。截至目前，陈志持有致浩达控股54.79%的股份。致浩达控股上市后，股价从未 站上过1港元大关，最高股价0.82港元，2023年跌至不足0.10港元，去年末最低跌到0.031港元。 去年10月15日，致浩达控股发布公告称，公司控股股东陈志被美国和英国制裁。陈志在去年7月辞任了 致浩达控股执行董事、董事会主席职务，骆嘉健被委任为执行董事。但去年10月27日，骆嘉健也辞任了 致浩达控股所有职务。 去年11月21日，致浩达控股发布公告称，致同会计师事务所辞任公司核数 ...

智通财经APP获悉，广发证券发布研报称，港股对外围风险更敏感，美联储未来降息路径不明，以及港 股12月面临限售股解禁高峰、分子端基本面承压，所以更容易受到流动性的冲击。该行预计潜在反弹时 间点可以关注12月中下旬、明年1月初。技术面，在牛市情况下，恒科跌破120日均线，说明下跌动能释 放已经比较充足，在120~250日均线之间随时有反弹可能性，截至12月9日，距离250日均线只差2.7%。 （原标题：广发证券：如何看待近期港股市场走势偏弱？） 广发证券主要观点如下： 港股市场下跌点评 1.近期港股大幅下跌的原因 因为川普不满鲍威尔降息表述，市场预期下一任联储主席是鸽派的，目前最有可能担任主席的哈赛特， 周一晚间表述：不能提前公布未来六个月利率政策；应该紧盯经济数据，适度、谨慎的下调利率。这和 市场的鸽派预期差异太大，所以外资净流出新兴市场，作为一个验证，可以看到印尼、印度、新兴市场 等跌的较多，而南向是净流入港股的。 2.为什么港股跌最大，并且11月中旬以来加速下跌? 港股基本面看中国内地，流动性看海外。A股涨的是估值，基本面是分化的，顺周期基本面相对较差； 美股涨的是基本面，流动性不好。港股把两样利空因素全 ...

Core Viewpoint - The Hong Kong dollar has experienced a significant appreciation against the US dollar, nearing the strong-side convertibility guarantee of 7.75, driven by a combination of supply contraction and demand expansion in the currency market [1][2][4]. Currency Exchange Rate Dynamics - The Hong Kong dollar rose sharply from 7.85 to 7.7755 against the US dollar, marking the fastest appreciation in nearly 20 years [2]. - As of August 28, the Hong Kong dollar continued to fluctuate below 7.80, remaining close to the strong-side guarantee [2]. - The increase in the Hong Kong dollar's value has led to a tightening of liquidity, with the overnight Hong Kong Interbank Offered Rate (HIBOR) rising from under 0.2% in May to nearly 4% [2][4]. Supply and Demand Factors - The appreciation of the Hong Kong dollar is attributed to a reduction in supply and an increase in demand [4]. - The Hong Kong Monetary Authority intervened in the market by purchasing a total of 104.41 billion HKD to stabilize the currency, resulting in a significant decrease in bank reserves to 53.7 billion HKD, the lowest since 2020 [4]. - Demand for the Hong Kong dollar has surged, with southbound capital inflows reaching a record net inflow of nearly 35.88 billion HKD on August 15 [5][6]. Market Outlook - Short-term expectations suggest a low probability of the Hong Kong dollar touching the strong-side guarantee again, although medium to long-term support remains [7]. - The performance of Hong Kong stocks has lagged behind A-shares, with the Hang Seng Index showing a modest increase of 0.98% over the past 20 trading days compared to higher gains in A-share indices [11]. - Analysts believe that the recent reversal in the Hong Kong dollar's trend could positively impact the stock market, as a stronger currency typically attracts foreign capital [12]. Future Projections - Factors supporting the Hong Kong stock market include expectations of a weaker US dollar, continued demand for quality assets, and ongoing IPO activities that attract foreign investment [13].

Group 1 - The article highlights the risk of high-positioned thematic stocks, indicating a significant drop in sectors such as nuclear power, innovative pharmaceuticals, and new consumption, with over 4,600 stocks declining and 20 hitting the daily limit down [1] - The article mentions that the market is under pressure due to various factors including month-end settlement, quarterly institutional rebalancing, new quantitative regulations in July, and the mid-year reporting window [1] - The U.S. Federal Reserve has decided to maintain the federal funds rate target range at 4.25% to 4.50%, marking the fourth consecutive decision to keep rates unchanged, with a median forecast for a 50 basis point cut by the end of 2024 [3] Group 2 - Reports indicate that U.S. officials are preparing for potential strikes against Iran, adding uncertainty to the Middle East situation, which could severely impact global financial markets [4] - Tencent has launched a new short drama mini-program called "Short Drama," which has positively influenced the A-share short drama concept sector, leading to significant stock price increases for companies like Baida Qiancheng and Zhangyue Technology [6] - The article notes that the oil and petrochemical sectors are the only ones showing gains, while industries such as textiles, cosmetics, light manufacturing, and pharmaceuticals are experiencing declines [9]

Group 1 - The panic in the Hong Kong stock market has subsided, but the potential for further upward movement remains uncertain [3] - The market experienced a significant drop recently, attributed to an overreaction to certain news, but has since shown signs of recovery with support from southbound capital [3][4] - The overall trend of the Hong Kong market has been one of fluctuation since mid-May, with a lack of strong support from capital inflows [3][4] Group 2 - The Hong Kong dollar has been hovering around the 7.85 to 1 USD exchange rate, indicating potential selling pressure and capital outflows [4] - The pegged exchange rate system requires the Hong Kong dollar to maintain this boundary, and failure to do so could negatively impact the stock market's performance [4] - A potential future appreciation of the Hong Kong dollar could signal increased market demand and stronger capital support, which may lead to upward momentum in the stock market [4]

Summary of Key Points Core Viewpoint - The Hong Kong stock market experienced significant net inflows from Northbound trading, with a total net buy of 134.75 billion HKD on May 6, 2023, indicating a positive sentiment towards certain stocks and sectors [1]. Northbound Trading Activity - The net buy from Northbound trading was 76.9 billion HKD through the Shanghai Stock Connect and 57.85 billion HKD through the Shenzhen Stock Connect [1]. - The most bought stocks included the Tracker Fund of Hong Kong (02800), Meituan-W (03690), and Hang Seng China Enterprises (02828) [1]. - The most sold stocks were Xiaomi Group-W (01810), Tencent (00700), and CNOOC (00883) [1]. Stock-Specific Insights - Xiaomi Group-W had a net sell of 4.91 billion HKD, with concerns over its vehicle's advertising changes and recent accidents [6]. - Tencent faced a net sell of 3.62 billion HKD, reflecting ongoing market challenges [7]. - Meituan-W saw a net buy of 34.56 billion HKD, with analysts noting the stability of the food delivery market despite short-term fluctuations [5]. - Alibaba-W (09988) received a net buy of 15.03 billion HKD, with news of Ant Group's potential IPO in Hong Kong [5]. - Construction Bank (00939) had a net buy of 5.24 billion HKD, despite a reported decline in first-quarter profits [5]. Market Sentiment and Future Outlook - Analysts from交银国际 expressed that the Hong Kong market shows resilience due to various supportive factors, with expectations of structural recovery in previously affected sectors [4]. - The report indicated that the emotional impact of tariffs has diminished, and global equity markets are recovering, which is positively influencing the Hong Kong market [4].