1月5日恒生指数上涨0.03%，报收26347.24点，全天南向资金通过港股通渠道合计净买入187.23亿港 元。 证券时报·数据宝统计，1月5日港股通全天合计成交金额为1436.06亿港元，成交净买入187.23亿港元。 具体来看，沪市港股通成交金额871.38亿港元，成交净买入98.09亿港元；深市港股通成交金额564.68亿 港元，成交净买入89.14亿港元。 成交活跃股方面，沪市港股通前十大成交活跃股中，阿里巴巴-W成交额为55.70亿港元，成交金额居 首；其次是中芯国际、盈富基金，成交金额分别为53.49亿港元、52.86亿港元。以净买卖金额统计，盈 富基金净买入额为52.72亿港元，净买入金额居首，该股收盘股价下跌0.08%。净卖出金额最多的是腾讯 控股，净卖出4.38亿港元，收盘股价上涨0.24%。 深市港股通前十大成交活跃股中，成交额居首的是阿里巴巴-W，成交金额39.90亿港元；其次是中芯国 际、腾讯控股，成交金额分别为34.50亿港元、30.33亿港元。以净买卖金额统计，有9只股为净买入，净 买入金额最多的是盈富基金，净买入15.54亿港元，该股收盘下跌0.08%。净卖出金额最多的是腾讯控 ...

腾讯控股、中国移动分别遭净卖出9.19亿港元、4.06亿港元。 上交所、深交所自2024年8月19日起调沪深港通交易信息披露机制。 在沪股通和深股通方面，调整后，每个沪股通和深股通交易日收市后，公布当日沪股通和深股通成交总 额及总成交笔数、ETF成交总额、前十大成交活跃证券名单及其成交总额，并按月度、年度公布前述数 据的汇总情况。 风险提示: 投资涉及风险，证券价格可升亦可跌，更可变得毫无价值。投资未必一定能够赚取利润，反 而可能会招致损失。过往业绩并不代表将来的表现。在作出任何投资决定之前，投资者须评估本身的财 政状况、投资目标、经验、承受风险的能力及了解有关产品之性质及风险。个别投资产品的性质及风险 详情，请细阅相关销售文件，以了解更多资料。倘有任何疑问，应征询独立的专业意见。 来源：华盛通 华盛资讯1月5日讯，港股日内窄幅震荡，截至收盘，三大指数涨跌不一，恒生指数微涨0.03%，国企指 数跌0.22%，恒生科技指数涨0.09%。 今日科网股普涨，其中快手-W涨超11%领跑，哔哩哔哩-W涨超5%，阿里巴巴-W涨超2%。"三桶油"普 跌，中国石油股份、中国海洋石油跌超3%，中国石油化工股份跌近2%。 南向资 ...

| 南京熊猫 | | 中国人寿 | 中芯国际 | 中国移动 | | 华虹公司 | 南京熊猫电子 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 分时图 | 日K线 | 周K线 | 月K线 | 13.44 | 1.22 9.98% | | 股份 | | | | 13.44 | | | | | | | | | 9.98% | | 13.03 | | | | | | | | | 6.63% | | 12.63 | | | | | | | | | 3.36% | | 12.22 | | | | | | | | | 0.00% | | 11.81 | | | | | | | | | 3.36% | | 11.41 | | | | | | | | | 6.63% | | 11.00 | | | | | | | | | 9.98% | | | | | | | | | | | 441万 | | | | | | | | | | | 294万 | | | | | | | | | | | 147万 | | | 09:30 | | 10:30 ...

Group 1: A-Share Market Performance - The A-share market opened high and closed strong, with the Shanghai Composite Index rising by 1.38% to close at 4023.42 points, surpassing the 4000-point mark again [1] - The Shenzhen Component Index reached a new high, increasing by 2.24% to close at 13828.63 points [1] - The total trading volume exceeded 2.56 trillion yuan, indicating significant market activity [1] - Sectors such as media and pharmaceuticals led the gains, while oil and banking sectors faced declines, with over 4100 stocks rising [1] - The market outlook remains bullish, supported by the New Year effect and macroeconomic policies [1] Group 2: Hong Kong Market and Technology Sector - The Hong Kong market showed strong performance during the mainland's holiday, with the technology ETF rising over 4% [3] - The Hang Seng Index increased by 28% in 2025, marking its best annual performance since 2017 [3] - Key factors supporting the technology sector include improved macroeconomic conditions and a truce in US-China tariffs, alongside expectations of interest rate cuts by the Federal Reserve [3] - China's GDP grew by 5.2% year-on-year in the first three quarters of 2025, indicating economic resilience [3] - The AI industry's explosive growth has significantly boosted market confidence, exemplified by a 117% increase in shares of SMIC in 2025 [3] Group 3: ETF Insights - The Hong Kong Technology ETF tracks the CSI Hong Kong Stock Connect Technology Index, which includes major internet platforms and hard technology stocks [4] - The index structure allows it to benefit from both internet giants' profit releases and the growth in AI and semiconductor sectors [4] - Despite potential short-term volatility, the long-term outlook for the Hong Kong technology sector remains strong, with a favorable price-to-earnings ratio compared to US tech stocks [4] - Investors are encouraged to consider the Hong Kong Technology ETF for gradual investments to capitalize on the technology bull market [4] Group 4: Gaming Sector Performance - The gaming ETF rose by 4.55%, reflecting strong confidence in the sector's performance for 2026 [14] - The domestic gaming market's actual sales revenue surpassed 350 billion yuan in 2025, marking a 7.68% year-on-year increase [14] - The growth in the gaming sector is driven by the explosive performance of mini-program games, which generated 53.54 billion yuan in revenue, a 34.39% increase [14] - Chinese game developers are increasingly competitive globally, with overseas sales reaching $20.455 billion, a 10.23% increase [14] Group 5: Semiconductor and Storage Market - The semiconductor equipment ETF rose by 5.96%, indicating strong market interest [16] - The demand for storage products has surged, with DRAM and NAND Flash prices increasing over 300% since September [16] - The first quarter of 2026 is expected to see continued price increases in storage due to ongoing supply constraints and rising AI-related demand [16] - The semiconductor equipment sector is poised for significant growth, with order growth expected to exceed 30% in 2026 [16] Group 6: Gold Market Outlook - Gold ETFs saw increases of 2.09% and 2.41% for gold funds and gold stock ETFs, respectively [17] - Geopolitical tensions, particularly in Venezuela and ongoing conflicts in Ukraine, are expected to drive demand for gold as a safe haven [18] - The Federal Reserve's cautious stance on interest rate cuts and the ongoing trend of de-dollarization globally are likely to support gold prices in the medium to long term [18]

固定收益报告 在岸市场：节后资金利率明显回落 节日资金需求量较大，人行上周通过逆回购操作净投放短期流动性 7374 亿人民 币。元旦假期后，资金回流银行体系，银行间资金利率明显下行，7 天存款类机 构质押式回购加权利率和 7 天银行间质押式回购加权利率全周分别下行 17 个和 48 个基点至 1.43%和 1.45%。3 年期和 10 年期国债收益率全周分别持平和下行 1 个基点至 1.38%和 1.85%。 固收周报 市场避险情绪未见明显增强 受假期影响，上周中资离岸债新发行冷淡，基本无新发行。美债收益率表现分化， 10 年期和 2 年期美债收益率上周分别上行 6 个和下行 1 个基点至 4.19% 和 3.47% 。 12 月份议息会议纪要显示，大多数与会者认为，若通胀如预期逐步下降，进一步 降息可能是适合的。总的来看，虽然通胀仍高于美联储政策目标，但在缺少进一 步上行趋势背景下，多数美联储官员倾向于降息以支持就业市场。从周一亚洲市 场走势看，上周末的委内瑞拉变局并未明显推升市场避险情绪，石油价格也大体 稳定。在这样的背景下，周一亚洲时段美债收益率变动并不大。彭博巴克莱中资 美元债总回报指数上周基本持平。 ...

Group 1 - The core viewpoint of the article emphasizes that in 2025, investing in mainstream indices yielded positive returns due to a favorable monetary policy environment, with significant gains in various asset classes, particularly gold and silver [2][4]. - Major global indices showed substantial growth, with the Hang Seng Index leading at 27.77%, followed by the Nikkei 225 at 26.18%, and the Shanghai Composite Index at 17.66% [5]. - Despite overall positive performance, there were notable fluctuations and risks throughout the year, including significant drawdowns in major indices due to various market events [11]. Group 2 - The investment landscape in 2025 was characterized by a structural shift towards technology and metals, with AI and advanced manufacturing sectors leading the market, while traditional sectors like coal and real estate lagged [13][14]. - Successful investing in 2025 required a diversified approach and the ability to select the right assets amidst rapid market rotations [15]. - Investor psychology played a crucial role in determining returns, with common pitfalls including emotional decision-making and mismanagement of market expectations [16][22]. Group 3 - Looking ahead to 2026, the article suggests that the prevailing low-interest-rate environment will continue to favor risk assets, encouraging investors to adopt a diversified investment strategy across various asset classes [24][25]. - The article highlights the importance of long-term investment strategies, such as dollar-cost averaging and dynamic rebalancing, to mitigate short-term market volatility and capture asset rotation opportunities [28].

Group 1 - The net buying amounts for various stocks include: 6.826 billion for Yingfu Fund, 1.556 billion for Kuaishou-W, 1.019 billion for Xiaomi Group-W, 360 million for SMIC, 328 million for CNOOC, 322 million for Hua Hong Semiconductor, 279 million for Meituan-W, 272 million for Alibaba-W, 245 million for China Life, and 105 million for Nanjing Panda Electronics [1] - The net selling amounts include: 918 million for Tencent Holdings and 406 million for China Mobile [1] - Southbound funds have continuously net sold Tencent for 6 days, totaling 4.86189 billion HKD; they have also net bought Hua Hong Semiconductor for 5 consecutive days, totaling 936.63 million HKD [1] Group 2 - Kuaishou-W has ranked first in graphic and design applications in South Korea, with 500,000 downloads and revenue of 900,000 USD in December [3] - SMIC has received an investment from the National Integrated Circuit Industry Investment Fund, increasing its stake from 4.79% to 9.25%, involving approximately 26.515 billion RMB [3] - Alibaba-W is launching a service to help restaurants utilize AI to showcase their environments, enhancing competition with Meituan in the Chinese dining sector [4]

Group 1 - Southbound funds net bought Hong Kong stocks worth 18.723 billion HKD on January 5, with notable purchases including 6.826 billion HKD in the Tracker Fund, 1.556 billion HKD in Kuaishou-W, and 1.019 billion HKD in Xiaomi Group-W [1] - Tencent Holdings experienced a net sell-off of 9.18 billion HKD, marking six consecutive days of net selling totaling 4.86189 billion HKD [1] - Semiconductor companies saw increased interest, with SMIC receiving net purchases totaling 1.5115 billion HKD over three days and Hua Hong Semiconductor seeing net buys of 936.63 million HKD over five days [1] Group 2 - Kuaishou-W ranked first in graphic and design applications in South Korea and was among the top ten in markets like the US, Turkey, and Vietnam, with 500,000 downloads and 900,000 USD in revenue in December [3] - SMIC was significantly supported by the National Integrated Circuit Industry Investment Fund, which increased its stake from 4.79% to 9.25% by acquiring over 357 million shares at an average price of 74.2 RMB per share [3] - China National Offshore Oil Corporation (CNOOC) faced a decline in oil prices due to concerns over supply despite political turmoil in Venezuela, with Brent crude falling to around 60 USD per barrel [3] - Alibaba Group is launching a service to help restaurants utilize AI to showcase their environments, part of a broader strategy to compete with Meituan in the Chinese dining sector [3]

来源：青岛财经日报 盘面上，科网股涨跌不一，快手涨幅超过11%，哔哩哔哩涨幅超过4%，阿里巴巴涨幅超过2%，网易、 小米跌幅超过2%；生物医药股涨幅居前，荣昌生物涨幅超过7%；内房股走强，融信中国涨幅超过6%； 脑机接口概念大涨，南京熊猫电子股份涨幅超过39%；石油股走弱，中石油跌幅超过3%；汽车股跌幅 居前，长城汽车跌幅超过6%。 2026年1月5日，港股三大指数涨跌不一。截至收盘，恒生指数涨0.03%，报26347.24点，恒生科技指数 涨0.09%，国企指数跌0.22%。 ...

成交额前三的个股中，阿里巴巴涨2.55%，成交超156亿港元；腾讯控股涨0.24%，成交超124亿港元； 中芯国际涨1.86%，成交超99亿港元。 （文章来源：新华财经） 整体来看，多数板块上涨，生物医药、芯片、房地产、电力、券商等股多为上涨，科网、新消费、煤 炭、有色金属等股有涨有跌，银行、新能源汽车、石油与天然气等股多有下跌。 个股方面，快手涨11.09%，小米集团跌2.33%，中国平安涨2.69%，美团涨0.76%，中国海洋石油跌 3.29%，华虹半导体涨3.32%，中国人寿涨3.40%，石药集团涨4.83%，壁仞科技跌3.66%，诺比侃涨 21.60%，英诺赛科跌9.42%，小鹏汽车跌4.60%，周大福涨5.13%，工商银行跌2.05%。 5日，港股主要指数高开后震荡整理，截至收盘，恒生指数上涨0.03%至26347.24点，恒生科技指数上涨 0.09%至5741.63点，国企指数下跌0.22%至9148.47点。 当日恒指高开22.97点，开报26361.44点，开盘上行，午前回落至开盘价附近，午后开盘在26351点附近 震荡，最终恒指涨8.77点，主板成交超2834亿港元。当日，港股通（南向）净流 ...