本报讯 （记者王镜茹）2025年第三季度，深圳甲级办公楼市场整体租赁活跃度有所回落，供需关系持续承压。全市净吸纳 量约为12.5万平方米，租金继续下行。 值得关注的是，部分企业正利用租金回调的窗口期，以更具成本效益的方式升级办公空间；与此同时，出海赛道与科技企 业的发展带动了结构性回暖，成为推动需求端修复的重要力量。 本季度，企业普遍延续谨慎的租赁策略，更加注重成本控制与空间效率优化。面对市场租金与现行租约之间的差距，更多 租户寻求租约重组谈判。多数业主在新租及续租谈判中展现出更高灵活性，愿意调整租金及相关条款，以稳定或吸引优质租 户。 部分租户把握租金调整机遇，从乙级办公楼或创意园区搬迁至甲级项目，实现了办公环境与品牌形象的双重提升。 本季度，从行业需求分布来看，科技企业仍是市场需求的主力，贡献了约三成租赁成交面积。消费电子、人工智能应用、 数字营销等细分领域表现较为活跃，带动科技园、前海等区域出现整层及以上规模的租赁成交。 仲量联行华南区与华西区商业地产部负责人李文杰表示："随着深圳科技企业加速向价值链高端转型，越来越多的企业更 加重视研发迭代效率、团队协作质量以及与产业生态的联动。这一趋势直接推动了对集 ...

Core Viewpoint - Hong Kong Stock Exchange (HKEX) announced the introduction of weekly options for five stocks starting from November 10, 2025, enhancing short-term risk management tools for investors [1] Group 1: New Weekly Options - The five stocks that will have new weekly options are China National Offshore Oil Corporation (00883), China Mobile (600941), Semiconductor Manufacturing International Corporation (00981), AIA Group Limited (01299), and Xiaomi Group (01810) [1] - The new weekly options will complement existing monthly contracts, providing investors with more flexibility [1] Group 2: Contract Details - The contract trading units for the respective stocks are as follows: - China Mobile: 500 shares - Semiconductor Manufacturing International Corporation: 2,500 shares - AIA Group Limited: 1,000 shares - Xiaomi Group: 1,000 shares - Weekly expiry dates for Semiconductor Manufacturing International Corporation are set for November 14 and November 21, 2025 [2]

| | | | 140.400 | | | --- | --- | --- | --- | --- | | 66.920 | | | 140.300 | | | | ﺔ ﺍﻟﻤﺘﺤﺪﺓ | | 140.200 | | | | | | 140.100 | | | | | | 140.000 | 700 | | | | | 139.900 | 10 | | | ar a | | | | | | | | 139.000 | 40 | | -5.160 ● 价位 ● 均价 | | -107.71% | 138 900 | | 智通财经APP获悉，挚达科技(02650)将于10月10日(周五)在香港挂牌。截至发稿，利弗莫尔证券暗盘交易显示报价139港元，较招股价66.92港元上涨 107.71%，每手50股，不计手续费，每手赚3604港元。 | 16:15 | | .Il ? | | --- | --- | --- | | | 挚达科技 HK 02650 暗盘 | | | 行情 板块 | 评论 券商持仓 | 实时数 | | 139.000 | 成交 900股 最高 139.000 | 今开 135.000 | | +1 ...

从2025年10月14日起，美国将对所有进入美国港口的中国散货船收取额外费用，单船费用最高可达1000万美元。这一政策适用于中国运营的船只，也包括中 国制造的船只。这一新规的出台，显然是美国借港口费来对中国进行经济打压，尤其是在贸易战未能完全占到便宜的背景下。 这次美国的新规背后，实际上是专门针对中国的一系列措施。根据美国海关与边境保护局的执行框架，这一收费政策不仅会影响中国公司经营的船只，还会 波及到中国船厂造的船只。例如，如果一艘希腊公司运营的船只是在中国船厂制造的，它同样需要支付额外费用。 从根本上看，美国的行为源于其贸易战的失败。到2025年上半年，中国的贸易顺差已突破5860亿美元，尽管对美国的顺差有所下降，但整体外贸形势依然向 好。中国制造的产品在全球市场越来越受欢迎，汽车、光伏组件等领域的出口增速显著，尤其是新能源汽车的销量增长超过87%。这意味着美国的关税政策 未能削弱中国的制造业，反而让中国的外贸产品越走越远。 在造船业领域，中国已经稳居全球第一。2025年上半年，中国造船业在完工量、新订单量、手持订单量上均占全球市场的绝对份额。而美国的造船市场份额 已经不到1%，甚至连自家的军舰也快造不出 ...

Core Viewpoint - Bilibili-W (09626) has seen a significant increase in stock price, rising over 7% following the announcement of a new game and positive market outlook for its future products [1] Group 1: Company Developments - Bilibili has announced a new asymmetrical competitive card game titled "Three Kingdoms: Hundred Generals Card," set to begin testing in October [1] - The company is expected to officially launch the exclusive agency SLG game "Three Kingdoms: Strategize the World" in early 2024, which is anticipated to perform well [1] - Bilibili has a strong pipeline of upcoming game products that are likely to contribute to revenue growth [1] Group 2: Market Analysis - According to China Merchants Securities, Bilibili's advertising share across multiple industries is showing significant improvement, indicating strong commercialization potential [1] - The recent launch of OpenAI's Sora2, which quickly topped the App Store's free app chart, signifies a merging of AI video generation and social interaction, potentially transforming content creation and distribution [1] - Huatai Securities suggests that advancements in multimodal AI models could lead to efficiency improvements and business model changes across various sectors, including video, social media, gaming, advertising, and e-commerce [1] - Bilibili is recognized as a rare PUGV mid-video platform, with substantial potential for AI to enhance content creation [1]

该行认为目前正进入一个时代，领先科技股的命运愈来愈依赖于其背后的实体基础设施。暴增的电力需 求无法仅靠应用程序或软件解决，必须投入真正资源于发电与配电领域，这将为能源、资源，甚至房地 产及运输等行业带来更广阔的增长与回报前景。在科技行业内部，回报来源亦将进一步分化。2020年代 的领先科技巨头很可能继续主导各自领域，但快速的创新——尤其是围绕机器学习及人工智能的领域， 将催生新一波科技明星企业，借助当前的资本支出热潮推出新产品与服务。 格隆汇10月9日｜高盛发表环球股市策略报告表示，目前环球市场行为和定价确实出现了一些与过去泡 沫相似的迹象，同时也观察到几个关键差异：首先，科技板块至今的上涨主要由基本面增长所驱动，而 非对未来增长的非理性投机；其次，表现最强劲的领先企业拥有异常稳健的资产负债表；第三，人工智 能领域迄今仍由少数现有巨头主导，而多数泡沫往往出现在竞争激烈、投资者及新进入者蜂拥而至的阶 段。 对于美股大科技公司的估值是否合理？该行指由于无法确切知道相关公司最终将实现的盈利与回报，这 个问题显然难以回答，但却是当前多数投资者正在面对的课题。该行从以下几个角度分析：1)与过去泡 沫时期的估值比较，2) ...

Core Insights - The US stock market is led by technology stocks, with the S&P 500 and Nasdaq indices reaching new closing highs, and the Nasdaq rising by 1.12% [1] - AMD surged over 11% due to positive news, while other major tech stocks like Nvidia and Amazon also recorded gains [1] - Market sentiment is boosted by expectations of a Federal Reserve interest rate cut and optimistic corporate earnings reports [1] Group 1: Market Performance - The Nasdaq China Golden Dragon Index increased by 0.87%, but there was significant internal divergence in performance [1] - Autonomous driving and AI concept stocks led the gains, with WeRide rising by 12.04% and Pony.ai by 8.61%, while companies like NIO and NetEase also saw increases [1] - Some e-commerce stocks experienced slight pullbacks, with Alibaba down by 0.12% [1] Group 2: Economic Indicators - The market is focused on the probability of a Federal Reserve rate cut in October, currently around 94.1%, and developments regarding the US government shutdown [1] - Analysts believe that if inflation data remains moderate and a rate cut occurs, technology stocks still have upward potential [1] - However, there are concerns regarding tariff policies and the overheating of the AI sector, while the AI industry chain and the valuation recovery of Chinese concept stocks are viewed positively in the medium to long term [1] Group 3: Investment Opportunities - The Nasdaq ETF (513300) tracks the Nasdaq 100 Index, focusing on global technology leaders [1] - Its holdings include well-known tech companies such as AMD, Apple, Nvidia, Microsoft, and Amazon, which are expected to benefit during the Federal Reserve's rate cut cycle [1]

节后A股将如何演绎？哪些资产类别可能蕴藏上涨机会？对此，机构观点有所分歧。有券商认为，节后 开盘A股上涨概率较大；也有券商坦言，预计市场大概率呈现震荡格局；另有机构指出，节后指数表现 需关注量价配合的情况。 多家券商也指出，后续市场表现或受海外降息节奏及地缘政治事件"黑天鹅"等风险因素影响。 回顾十一假期，海外市场可谓迎来"多事之秋"，全球大类资产表现分化。海外股市整体走势偏强，风险 资产普遍上涨，数字货币亦再度走强，其中，国际黄金价格突破每盎司4000美元大关。 展望后市，多家券商持乐观态度。中泰证券指出，总体而言，节前市场情绪温和乐观，在科技主线成长 性持续的背景下，节后开盘上涨概率较大。从资金面看，节前最后两个交易日两融余额维持较高水平， 市场平均担保比例回升，表明多头资金整体看好节后走势。从假期海外情况看，全球各主要经济体股市 多数上涨，A股节后存在一定补涨空间。 浙商证券指出，预计A股节后开盘大概率是震荡格局。展望后市，预计上证指数有两种运行路径：一是 直接突破前高形成日线5浪结构；二是先进行区间震荡，此后再行突破。基于"战略看多A股走势战术执 行细化操作"的判断。 东吴证券则指出，传统日历效应下， ...

【导读】标普500指数、纳指创收盘新高；美联储公布9月议息会议纪要，未来降息路径现分歧！ 中国基金报记者 郭玟君 10月8日，美国三大股指多数收涨，标普500指数、纳指创收盘新高，中概股多数上涨。美国参议院再次否决两党拨款法案，联邦政府继续停摆。 标普500指数、纳指创收盘新高 美国三大股指多数收涨，道指持平，报46601.78点；标普500指数涨0.58%，报6753.72点；纳指涨1.12%，报23043.38点。其中，标普500指数、纳指创收盘 新高。 大型科技股多数上涨，万得美国科技七巨头指数上涨0.84%。英伟达涨2.20%，亚马逊涨1.55%，特斯拉涨1.29%，领涨美国科技七巨头。 | 现价 涨跌 涨跌幅▼ 年初至今 时间 名称 代码 | | | --- | --- | | 英伟达(NVIDIA) NVDA 1 189.110 4.070 2.20% | 40.85% 16:00 | | 亚马逊(AMAZON) AMZN 2 225.220 3.440 1.55% | 2.66% 16:00 | | 特斯拉(TESLA) | 8.63% 16:00 | | 脸书(META PLATF META ...

Core Viewpoint - The Hang Seng Index experienced a slight decline of 0.1% from October 1 to October 8, while the Hang Seng Tech Index saw an increase of 0.75% [1] Industry Performance - The steel, non-ferrous metals, and pharmaceutical sectors led the market, while the agriculture, forestry, animal husbandry, fishery, real estate, and consumer services sectors lagged [1] Market Trends - Post-holiday, Hong Kong stocks typically face a brief increase in volatility risk [1] - Despite external events and data during the holiday, the mid-term market logic remains unchanged and is further reinforced by several factors: 1. The rising importance of scarce and certain assets [1] 2. Increased demand for cross-asset and cross-regional capital reallocation [1] 3. A renewed emphasis on AI narratives [1] 4. Strong performance in experiential consumption [1]