此外其编算方法更新还包括：更改指数目的、选股范畴、行业要求和成份股挑选方法；新增主题要求、 缓冲区和快速纳入规则。 fund （原标题：恒生港股通软件及半导体指数将更名 阅文(00772)、美图(01357)等获纳入 剔除中芯国际 (00981)、华虹半导体(01347)） 智通财经APP获悉，12月11日，恒生指数公司发布通告，恒生港股通软件及半导体指数将改名为恒生港 股通软件主题指数，编算方法亦将更新，成份股数目固定为40只。加入阅文集团(00772)、趣致集团 (00917)、美图(01357)、汇量科技(01860)四只股份，剔除ASMPT(00522)、中芯国际(00981)、华虹半导 体(01347)等几只股票，指数的重新命名及相关的成份股变动将于2025年12月16日生效。成份股数目仍 维持32只。 ...

格隆汇12月11日｜恒生港股通软件及半导体(可投资)指数将改名为恒生港股通软件主题指数，成份股数 目固定为40只，加入阅文集团、趣致集团、美图、汇量科技四只股份，剔除ASMPT、中芯国际、华虹 半导体、英诺赛科四只股票，于2025年12月16日(星期二)生效。成份股数目仍维持32只。 ...

| 代号 | 公司 | | --- | --- | | 772 | 阅文集团 | | 917 | 趣致集团 | | 1357 | 美图公司 | | 1860 | 汇量科技有限公司 | | | | 12月11日，恒生指数公司发布通告，恒生港股通软件及半导体指数将改名为恒生港股通软件主题指数， 编算方法亦将更新，成份股数目固定为40只。加入阅文集团(00772)、趣致集团(00917)、美图(01357)、 汇量科技(01860)四只股份，剔除ASMPT(00522)、中芯国际(00981)、华虹半导体(01347)等几只股票，指 数的重新命名及相关的成份股变动将于2025年12月16日生效。成份股数目仍维持32只。 此外其编算方法更新还包括：更改指数目的、选股范畴、行业要求和成份股挑选方法；新增主题要求、 缓冲区和快速纳入规则。 | 代름 | 公司 | | --- | --- | | 522 | ASMPT Ltd. | | 981 | 中芯国际集成电路制造有限公司 | | 1347 | 华虹半导体有限公司 | | 2577 | 英诺赛科(苏州)科技股份有限公司 - H 股 | ...

Group 1 - The Hang Seng Index Company announced the renaming of the Hang Seng Hong Kong Stock Connect Software and Semiconductor Index to the Hang Seng Hong Kong Stock Connect Software Theme Index, with an updated calculation method [1] - The number of constituent stocks will be fixed at 40, with the addition of four stocks: Yu Wen Group (00772), Qutoutiao (00917), Meitu (01357), and Hylink Technology (01860) [1] - Several stocks, including ASMPT (00522), SMIC (00981), and Hua Hong Semiconductor (01347), will be removed from the index, effective December 16, 2025 [1] Group 2 - The updated calculation method will include changes to the index objectives, stock selection criteria, industry requirements, and constituent stock selection methods [1] - New thematic requirements, buffer zones, and rapid inclusion rules will be introduced as part of the index update [1]

Core Insights - The Hebei Provincial Government has officially issued the "Three-Year Action Plan for Digital Economy Development (2025-2027)", outlining a clear roadmap for the province's digital economy growth over the next three years [1][9] - The plan aims to establish Hebei as a "leading digital economy hub driven by computing power, data, and intelligent integration" by 2027, with specific targets for five key industries to exceed a scale of 500 billion yuan [1][9] Strategic Background - Hebei's digital economy development is built on a solid foundation, with the province ranking first in the national comprehensive computing power index for two consecutive years, and cities like Langfang and Zhangjiakou leading in city-level computing power rankings [4][13] - The province has a rich industrial landscape with over 370,000 industrial enterprises across 40 sectors, providing ample opportunities for digital transformation [4][13] - The plan includes the construction of 230,000 5G base stations, the cultivation of 300 advanced smart factories, and the goal of having over 150,000 enterprises adopt cloud services [4][13] Key Tasks - The plan encompasses six major actions that form the framework for digital economy development, including enhancing data infrastructure, empowering data elements, doubling digital industries, improving traditional industries, enhancing digital governance, and optimizing the innovation ecosystem [7][16] - Specific actions include building intelligent computing clusters in Zhangjiakou and Langfang, creating a public data sharing platform, and achieving full digital coverage for large-scale enterprises in the manufacturing sector [7][16] Regional Collaboration - The digital economy development plan aligns closely with the Beijing-Tianjin-Hebei collaborative development strategy, emphasizing regional characteristics [8][17] - The plan proposes the establishment of a shared computing power resource pool among the three regions, facilitating a collaborative model where Beijing provides demand and Hebei supplies computing power [8][17] - The spatial layout focuses on Xiong'an New Area as a core, supporting the development of aerospace information industries, while promoting data industry clusters in cities like Shijiazhuang, Baoding, Zhangjiakou, and Langfang [8][17] - The ongoing implementation of the action plan signifies a shift from resource dependence to intelligence-driven development, with Hebei aiming to carve out a unique path for high-quality growth [8][17]

Core Viewpoint - Citi analysts believe that "Agentic workflows" will be the main growth and valuation driver for software companies focused on AI-driven usage-based billing data and cloud core resource consumption until at least the end of 2026 [1] Group 1: AI Workflows and Market Trends - The transition from "AI experimentation" to "initial deployment of AI agents" is expected to drive enterprise software and cloud computing spending to grow by 20-35% on top of a 50% increase in 2025 [2] - Major cloud vendors and AI-driven software companies like Oracle, Snowflake, MongoDB, and Elastic are anticipated to be the biggest beneficiaries of this trend [1][2] - The demand for AI applications, particularly those enhancing B2B operational efficiency, is surging across various industries, as evidenced by strong performance from companies like Google, AppLovin, and Palantir [3] Group 2: AI Application Development - The development of AI applications is increasingly focused on "generative AI applications" and AI agents capable of executing complex tasks autonomously [4] - The launch of Google's Gemini3 has sparked a new wave of AI applications, significantly increasing demand for AI processing power [5][8] - MongoDB is positioned as a key beneficiary in the AI ecosystem, leveraging its integration with Google Cloud and Vertex AI to capitalize on the growing demand for cloud-based AI solutions [9][11] Group 3: Financial Performance and Projections - MongoDB's recent earnings report exceeded Wall Street expectations, highlighting the strong growth trajectory of its core business and its integration with Google Cloud [9][12] - The overall AI investment narrative is shifting from a focus on computational power to one centered on "agentic workflows and data usage" as a source of revenue [10] - The AI ecosystem, particularly companies like MongoDB, is experiencing robust growth driven by increased demand for cloud AI processing capabilities [12][13]

来源：滚动播报 受甲骨文股价大幅抛售拖累，欧洲科技股普遍下跌。甲骨文因营收不及预期且上调支出预测，在盘后交 易中暴跌11%。荷兰以科技股为主的AEX指数下跌0.3%，其中阿斯麦和ASM国际均下跌约1%，BE半导 体跌幅达1.7%。甲骨文竞争对手、软件供应商SAP下跌2.5%，拖累德国DAX指数下挫0.2%。尽管意法 半导体宣布获得欧洲投资银行的融资方案，其股价仍下跌1%。 ...

云服务供应商甲骨文（Oracle）上财季营收低于预期，令投资者对公司在AI（人工智能）领域的巨额投资感到担忧。 当地时间12月10日美股盘后，甲骨文公布截至11月30日的2026财年第二财季业绩，公司报告期间营收160.6亿美元，同比增长14%，低于市场预期的 162.1亿美元；净利润为61.4亿美元，同比大增95%；非GAAP下调整后每股收益（EPS）为2.26美元，高于市场预期的1.64美元；运营利润率为 42%。 甲骨文首席财务官道格·凯林（Doug Kehring）强调，资本支出的增长是受到订单推动，公司的剩余履约义务（RPO，客户已签约但尚未计入收入的 合同）在上财季同比飙升438%至5230亿美元，该数字超过了市场预期的5018亿美元，"主要受到与Meta、英伟达等公司新协议的推动"。同时，甲 骨文预计将在2027财年将新增40亿美元的额外收入。 不过，甲骨文的这份财报并没有让市场满意。10日当天，甲骨文（Nasdaq：ORCL）股价涨0.67%收于每股223.01美元，总市值6357.6亿美元。而在 财报发布后，甲骨文股票大跌超11%。从9月初高点以来，甲骨文股价累计跌幅超过31%。 今年以来， ...

Core Viewpoint - The Federal Reserve's recent interest rate cut is expected to alleviate global liquidity pressures, positively impacting technology assets in the Hong Kong stock market, particularly the Hang Seng Tech ETF [1][4]. Group 1: Federal Reserve Actions and Market Reactions - On December 11, 2025, the Federal Reserve lowered the federal funds rate by 25 basis points to a target range of 3.50%–3.75% [1]. - Following the Fed's dovish statements, U.S. stock indices experienced a significant rise, indicating a positive market sentiment [1]. - The Hang Seng Tech ETF (513130) has seen a continuous inflow of funds, with a net inflow of 0.37 million yuan over four trading days [1]. Group 2: Performance of Hang Seng Tech ETF - Since November 2025, the Hang Seng Tech ETF has attracted 46.14 billion yuan, with its total size reaching 429.20 billion yuan, marking a 115% increase year-to-date [2][10]. - The ETF's share count has increased by 61 million shares, totaling 585.289 million shares, reflecting a 77% year-to-date growth [2][10]. - The latest price-to-earnings (P/E) ratio of the Hang Seng Tech Index is 23.40, which is below the average of 35.96% over the past five years, suggesting it may be an attractive investment opportunity [2][10]. Group 3: Industry Developments - Major internet companies in Hong Kong are actively advancing in the AI sector, with initiatives like the establishment of the Qianwen C-end business group aimed at creating a super app for AI applications [1]. - The Hang Seng Tech Index includes 30 leading companies in the Hong Kong market, covering various sectors such as internet, media, software, automotive, and semiconductors, indicating its comprehensive representation of the tech industry [3][11]. Group 4: Market Outlook - Analysts from China Merchants Securities International predict that the Hong Kong stock market may shift from a bearish to a bullish trend by year-end, with the tech sector likely leading this recovery [4][12]. - The combination of the Fed's rate cut, increased southbound capital inflows, and a growing willingness from institutional investors to allocate funds is expected to provide strong support for valuations in the Hong Kong market [4][12].

Group 1: Federal Reserve Actions - The Federal Reserve lowered interest rates by 25 basis points, marking the third rate cut of the year [3][5] - Fed Chairman Jerome Powell announced the initiation of short-term bond purchases to stabilize market liquidity [3] - The median forecast from the "dot plot" indicates that Fed officials expect only one rate cut next year, consistent with predictions from September [7] Group 2: Market Reactions - Following the Fed's announcement, U.S. stock indices collectively rose, with the Dow Jones increasing by nearly 500 points, closing up 1.05% [3] - Investors shifted funds from technology stocks to industrial, retail, and financial sectors, reflecting a change in risk appetite [3][5] Group 3: Oracle Corporation Performance - Oracle Corporation reported disappointing Q2 results for fiscal year 2026, with revenue and cloud business performance falling short of expectations [9] - The company anticipates higher capital expenditures than previously estimated, raising concerns about its financial health [9] - Moody's and S&P have downgraded Oracle's credit outlook to negative, warning of potential further downgrades if debt growth outpaces earnings growth [9] Group 4: Commodity Market Developments - International gold prices experienced a slight decline, closing at $4224.7 per ounce, down 0.27% [14] - Silver futures reached a new historical high, closing at $61.029 per ounce, up 0.31%, driven by declining inventories and increasing industrial demand [14]