南京公用公告，控股股东南京公用控股（集团）有限公司及其一致行动人南京市城市建设投资控股（集 团）有限责任公司拟通过非公开协议转让方式向南京市创新投资集团有限责任公司转让其所持有的公司 无限售流通股股份合计4373.1万股，占公司总股本的7.61%，转让价款共计3亿元。其中，公用控股拟转 让1680.01万股，占公司总股本的2.92%；市城建集团拟转让2693.09万股，占公司总股本的4.69%。 ...

中银国际指出，2025年前11个月香港股票市场表现出色，流动性充裕支撑市场表现。港股通高股息 板块中，低估值高息的央国企股具备中长期配置价值，尤其在外部环境复杂背景下，这类资产因其防御 性和稳定分红特性受到关注。随着宏观政策持续发力及南向资金持续流入，高股息策略在震荡市中的优 势将延续，建议关注具备盈利稳定性和分红能力的优质标的。 红利港股ETF（159331）跟踪的是港股通高股息指数（930914），该指数从符合港股通条件的上市 公司中筛选流动性良好且持续分红的30只高股息率证券，采用股息率加权编制。指数成分股主要分布于 银行、交通运输、煤炭及公用事业等行业，整体呈现收益稳健、波动较低的市场特征。 值得注意的是，"可月月评估分红"的红利港股ETF（159331）已连续分红16个月，值得关注。 每日经济新闻 （责任编辑：张晓波 ） 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 注：分红情况具体详见基金分 ...

Market Overview - After regaining the 3900-point level, the A-share market has returned to a phase of low-volume consolidation, with mixed performances across indices. The ChiNext Index continues to show upward momentum, while the Shanghai Composite Index and the Sci-Tech 50 Index have experienced slight pullbacks. Overall trading volume has decreased compared to Monday, reflecting a decline in investor enthusiasm as the year-end approaches, leading to a general trend of low-volume fluctuations [1] Future Outlook - As the year-end approaches, a cautious market sentiment prevails, with fluctuations around the 4000-point level potentially preparing the market for a new upward phase. The market has established conditions for further upward expansion following a period of sideways movement since October. A recovery in the supply-demand situation for the manufacturing sector in 2026 is likely, which could lead to a significant rebound in the earnings growth of A-share listed companies. Key focus areas for November include the impact of the 14th Five-Year Plan on industries, event-driven dynamics in the technology sector, and price increases driven by anti-involution trends, which are expected to catalyze multiple sectors and support a continued upward trend in the market [1] Sector Highlights - In December, sectors benefiting from dividends and price increases are expected to outperform, with short-term attention on banking, public utilities, coal, and non-ferrous metals. Technology will remain a key focus in 2026, with particular attention on AI, lithium batteries, military industry, and robotics. Specific areas of interest include: 1. The established trend in AI hardware, with a continued increase in token usage for major AI models, indicating a peak in AI applications by 2026, presenting opportunities for high growth in AI hardware and the transition from quantitative to qualitative changes in AI applications [2] 2. The trend of robot localization and integration into daily life is expected to continue into 2026, with robot products expanding from humanoid robots to quadrupedal and functional robots, creating recurring opportunities in sensors, controllers, and dexterous hands [2] 3. The trend towards semiconductor localization remains strong, with a focus on semiconductor equipment, wafer manufacturing, semiconductor materials, and IC design [2] 4. The military sector is expected to see a continued recovery in orders by 2026, with many sub-sectors such as ground equipment, aviation equipment, and military electronics showing signs of bottoming out as Q3 report declines narrow [2] 5. The innovative drug sector is entering a recovery phase after nearly four years of adjustment, with positive net profit growth for four consecutive quarters since Q3 2024, and an anticipated turning point in fundamentals by 2025, continuing an upward trend into 2026 [2]

到2035年，美国数据中⼼电⼒需求可能达到106吉⽡ 泰勒·德登 2025年12⽉4⽇，星期四，上午8:15 作者： Brian Martucci ， UtilityDive 概括： 彭博新能源财经的这份报告发布之际，⼀些能源⾏业分析师和⾼管警告称，⼈⼯智能泡沫或投机性 数据中⼼提案可能会推⾼负荷增⻓预测。 更多一手调研纪要和海外投行研报数据加V：shuimu2026 更多一手调研纪要和海外投行研报数据加V：shuimu2026 更多一手调研纪要和海外投行研报数据加V：shuimu2026 更多一手调研纪要和海外投行研报数据加V：shuimu2026 更多一手调研纪要和海外投行研报数据加V：shuimu2026 更多一手调研纪要和海外投行研报数据加V：shuimu2026 https://www.zerohedge.com/markets/us-data-center-power-demand-could-reach-106-gw-2035 1/3 更多资料加入知识星球：水木调研纪要 关注公众号：水木纪要 彭博新能源财经的数据中⼼项⽬跟踪器显⽰，该⾏业正在从传统的数据中⼼中⼼（如北弗吉尼亚、 亚特兰⼤都会区和 ...

（原标题：汇丰私行：北水流入将会持续 看好中国科技与高息板块） 对于港股市场，内地资金的持续流入构成重要支撑。何伟华指出，北水南下的趋势预计仍将延续。今年 以来，南向资金规模显著，香港市场上市的创新板块企业吸引了大量内地资金配置。汇丰预计，2026年 创新板块企业的盈利增长将持续提升，南向资金加速流入的趋势有望持续。 （汇丰记者会现场 摄/谢巧云） 南方财经 21世纪经济报道记者 张伟泽 香港报道 12月9日，汇丰私人银行及财富管理北亚首席投资总监何伟华在记者会上表示，基于强劲的盈利增长预 期和结构性机遇，该行对中国内地及香港股市给予"偏高配置"的积极看法，并认为北水南下的趋势将会 持续，科技创新与高股息板块将成为市场关注的焦点。 汇丰私人银行及财富管理亚洲首席投资总监范卓云在会上指出，亚洲市场在全球投资组合中的吸引力正 持续提升，主要得益于该地区公司强劲的盈利增长。她提供的数据显示，新兴亚洲市场的每股盈利增长 预计为20%，高于美国标普500指数预计的13%，显示亚洲市场在盈利增速上显著领先。 在亚洲股市中，汇丰私行给予内地和香港市场偏高配置评级。何伟华表示，该行继续看好中国股市中的 创新相关板块，重点关注 ...

2025 年 12 月 09 日 星期二 汽车板块：市场预期 12 月锂电排产环比增加，行业景气度向好，产业链产能利用率提升，并带动涨价。周一锂电池板块 拉升上涨，宁德时代（3750 HK）涨 3.3%；赣锋锂业（1772 HK）涨 7.0%。 ➢ 每日大市点评 12 月 8 日，恒生指数再次跌穿 26,000 点大关。周一港股震荡走低，恒生指数下跌 319 点（1.2%），收报 25,765 点；恒 生科技指数收盘与上周五持平；全天大市成交额 2,062 亿元。市场在观望美联储本周议息的同时，缺乏强力催化，市场 预期美联储将降息 0.25%。港股通净流入 15.4 亿元。盘面上，中证监称对优质券商适当松绑，进一步优化风控指标，市 场预期券商行业经历严监管后有望进入"政策宽松期"。中资券商股普遍上扬，华泰证券（6886 HK）涨 5.2%；招商证 劵（6099 HK）升 2.8%；中信证劵（6030 HK）涨 1.7%。周一内银股普遍下跌，建设银行（939 HK）跌 4.0%；招商银行 （3968 HK）跌 3.5%；工商银行（1398 HK）跌 3.5%。另一方面，市场担忧 Labubu 热度消退，明年销售 ...

南向资金对港股通标的股的整体持股比例为19.34%，245只个股南向资金持股比例超20%。 南向资金持有比例较高的港股 | 代码 | 简称 | 持股量（万 | 占已发行股份比例 | 收盘价（港 | 日涨跌幅 | 行业 | | --- | --- | --- | --- | --- | --- | --- | | | | 股） | （%） | 元） | （%） | | | 00728 | 中国电信 | 1011486.35 | 72.88 | 5.760 | -2.87 | 电讯业 | | 01635 | 大众公用 | 37200.80 | 69.70 | 3.930 | -0.51 | 公用事业 | | 01330 | 绿色动力环保 | 27998.20 | 69.23 | 5.570 | -1.07 | 工业 | | 01108 | 凯盛新能 | 16972.40 | 67.88 | 3.830 | 0.79 | 工业 | | 01088 | 中国神华 | 226666.49 | 67.10 | 39.520 | -2.90 | 能源业 | | 01341 | 昊天国际建投 | 726044.80 | 66 ...

英大证券研究所证券研究报告 金 点 策 略 晨 报 2025 年 12 月 9 日 多重合力助推 A 股上行，但仍存结构性隐忧 分析师：惠祥凤 执业证书编号：S0990513100001 电话：0755-83007028 邮箱：huixf@ydzq.sgcc.com.cn 观点： 总量视角 【A 股大势研判】 上周五沪深三大指数大涨，沪指成功收复 3900 点整数关口。本周一 A 股延 续强势，其中创业板指在科技股引领下一度大涨超过 3%。盘面上看，市场驱动力 主要以 AI 算力为首的硬科技赛道，CPO、光模块概念强势，资金再次追捧人工智 能产业链。两市成交额重返 2 万亿。 周一市场上行，主要有以下几个方面的利好：一是监管层调低保险公司在沪 深 300、中证红利、科创板股票投资风险因子 10%，这一举措有望为 A 股市场带 来千亿级别的增量资金，进一步充实市场流动性（数据来源：第一财经）；二是 拓宽券商资本空间与杠杆上限，有助于提高券商资本利用效率，相当于为行业适 当加杠杆，增强市场交易活跃度和中介服务能力；三是公募基金强化长期业绩导 向，提高跟投比例并根据业绩基准调整薪资，这一制度优化将显著加强管理人与 ...

Group 1 - The overall A-share market experienced wide fluctuations, with major indices showing slight weekly gains and increased trading volume [5] - The short-term pullback pressure may have been released, indicating a return to a consolidation phase, with a positive outlook for market rebounds [5] - The investment strategy suggested focuses on "dividend + technology" as the main allocation theme, with dividends expected to perform better in terms of volatility [5] Group 2 - The electrolytic aluminum spot price reached its highest level since May 2022, indicating potential recovery in the steel sector's profitability [6] - The copper industry reported a 1% month-on-month increase in China's electrolytic copper production for November, with cable enterprise operating rates rising for five consecutive weeks [6] - The supply-demand dynamics in the copper market are expected to remain tight, supporting a bullish outlook for copper prices [6] Group 3 - China National Petroleum Corporation is recognized as a significant state-owned enterprise and a major global oil and gas producer, benefiting from its integrated operations across various energy sectors [7] - The energy sector is seeing a focus on investment opportunities in hydrogen, ammonia, and energy storage, with expectations for stable domestic bidding levels in 2026 [7] - The lithium battery sector is highlighted for potential investment opportunities, particularly in lithium mines and production processes that are currently under pressure [7] Group 4 - The first commercial insurance innovative drug directory was released, including 24 drugs, with 19 successfully negotiated for pricing, expanding market opportunities for innovative drugs in China [8] - The implementation of this directory is expected to create a broader market space for innovative pharmaceuticals amid the continuous emergence of new global drugs [8]

来源：华盛证券 华盛资讯12月8日讯，美股自11月中旬"AI泡沫"担忧以来持续反弹，纳指、标普再度冲刺新高之际，美联 储将于本周北京时间周四凌晨3点公布利率决议，主席鲍威尔将在2点30分召开新闻发布会。 数据显示，12月往往是美股表现强劲的月份，这场恰逢年末的利率决议，被全球市场视为触发"圣诞老人 行情"的关键因素，投资者关注鲍威尔、哈塞特两位关键联储人物的最新发言。 标普500指数再度逼近历史高位 宏观周来袭，华尔街交易员普遍预期本周美联储将降息25基点，"圣诞老人行情"能否如期？哪些降息交易 值得投资者提前关注？一文带你看懂。 降息25基点板上钉钉！鲍威尔VS哈塞特定调美联储"鸽派"or"鹰派" 编者按：美股再冲新高之际，市场押注本周降息25基点板上钉钉，这项关键数据将暗示"圣诞行情"能否如 期而至。投资者如何抢跑布局？ 鲍威尔VS哈塞特！这项关键数据暗示"圣诞老人行情"能否如期而至 目前美联储再次降息几乎已成定局，市场一方面关注，鲍威尔讲话将如何表述下个月进一步宽松的前景， 另一方面则关注"影子美联储主席"哈塞特的最新观点。 根据以往鲍威尔习惯而言，华尔街预期其将再次上演"鹰派降息"发言，意味着鲍威尔在 ...