01 全球视野：无缝衔接40多个市场，捕捉投资机会 来源：新浪港股 全球金融市场波动加剧，港股市场机遇与挑战并存，你的掌上方寸之间藏着一位专业投资伙伴。 数字金融时代，港股市场以其国际化、高透明度和大量优质新经济公司的特点，正吸引越来越多投资者 的目光。 然而与A股市场相比，港股市场规则更复杂、信息渠道更多元、波动也更剧烈。在这场智能工具的技术 革命中，新浪财经APP从众多交易软件中脱颖而出，成为港股投资者不可或缺的"数字军师"。 港股投资不能孤立看待，全球市场联动已成常态。新浪财经APP以"全球监控×智能工具×社交验证"的三 维架构奠定了行业领军地位。 这款APP覆盖40多个全球市场实时行情，实现港股、美股、期货无缝衔接。这种广度远超同类产品，让 投资者能够实时捕捉全球市场波动带来的机会。 其"多市场联动看盘"功能极具颠覆性：当用户查看港股美团-W时，屏幕同步显示纳斯达克中概股走势 与A股消费板块联动效应，跨市场套利机会一目了然。 当多数平台因流量过载延迟1-2秒时，新浪财经用户仍能实时捕捉腾讯、美团等蓝筹股的细微价差。这 种毫秒级行情更新确保决策零延迟，成为港股投资者的"数字跑道"。 02 AI决策革命： ...

华尔街金融巨头摩根士丹利最新发布的一份研报显示，在特朗普政府2025年通过的OBBBA减税法案(即所谓的"大而美"法案)将从2026年开始强劲推动经济增 长效应，叠加特朗普关税政策带来的物价上扬最终被证实为暂时性的通胀扰动直至短期通胀逐渐消散，以及微软、谷歌等科技巨头们围绕AI算力基础设施 为核心的AI数据中心建设进程如火如荼，将共同带动美国经济在2026年呈现出"金发姑娘式的软着陆"的这一温和增长宏观环境。 大摩宏观分析师团队表示，预计2025年美国实际GDP同比增长1.6%(当年四季度的实际GDP相对上一年四季度的增速)，预计2026年实际GDP同比增1.8%，以 及2027年有望同比增长2%，按照大摩的最新展望，这些实际GDP增速预期意味着美国经济终将实现美联储官员们心心念念的美国经济金发姑娘式软着陆蓝 图。 | Exhibit 1: US Economics Year-Ahead Outlook: Forecast Summary | | --- | | Q4/Q4 % change, unless noted | 2024A | 2025E | 2026E | 2027E | | --- | --- ...

预计2026年股价表现更多将由盈利驱动。预计2026年每股收益将增长10%，由反内卷措施和折旧摊销费 用下降所拉动。看好互联网、硬件科技和券商，同时移除高股息股，因其收益率降低。随着明年全球增 长改善，加入看好部分"出海"股票。 11月18日，瑞银投资在2026年展望报告中指出，预计中国股市将迎来又一个丰年，因包括创新领域发展 等许多有利的驱动因素将继续支撑市场。MSCI中国指数明年末目标位为100，较当前有14%的上涨空 间。 ...

Group 1 - The Hong Kong stock market indices collectively declined, with the Hang Seng Tech Index falling over 2% [1] - Major ETFs, particularly the Hang Seng Tech Index ETF (513180), followed the index's downward trend, with significant declines in stocks like XPeng Motors, Lenovo Group, BYD, JD Health, and Horizon Robotics [1] - Positive policy impacts are expected to benefit the Hong Kong stock market in the short term [1] Group 2 - As of November 17, the latest valuation (PETTM) of the Hang Seng Tech Index ETF (513180) is 22.26 times, lower than other major global tech indices [2] - The index valuation is at approximately the 24.73 percentile since its inception, indicating it is undervalued historically [2] - The Hang Seng Tech Index is in a historically low valuation range, highlighting its cost-effectiveness and potential for upward momentum due to its high elasticity and growth characteristics [2]

今年，活人感成为了营销圈的高频词汇。当AI越来越像人，而人与生俱来的真实、鲜活、带点毛边的"人味"却成了稀缺品。真正的活人感，不是精修人 设，而是会犯傻、能玩梗，不端不装，也更最动人。比如，雪王的街溜子体质、奔驰与麦当劳联名组成的CP、各地文旅凭借"活人感"频频出圈等。 在算法精准投喂的年代，人们反而被笨拙的真诚打动。活人感，不是策略，而是松弛；不是表演，而是本色。这也让品牌的营销有温度，让城市有了性 格，也屏幕后边的消费者愿意为此停留。 当消费者越来越渴望真实共鸣，品牌"说人话"的能力，既是加分项，也是生存必备技能之一，也使品牌的营销开始"不谈交易，而是交心"的方向进行转 变。究竟大家"交心"的方式有哪些呢？ 01 玩梗式交心，与用户玩在一起 作为撬动年轻群体的重要方式，现在品牌做营销更喜欢造梗、接梗、自黑等方式，使其营销不是生硬的蹭热点，而是让梗自然融入年轻人的语言体系，让 传播诉求在好玩、共情中实现"软着陆"。这种玩梗式营销，其本质是放下身段、走进语境，用年轻人喜欢的方式说自己的话。当品牌不再端着，而是以平 视的姿态与用户对话，交心便成了水到渠成的事。 最近凭借造梗出圈的，非麦当劳与奔驰莫属，非常麦驰（ ...

AI播客：换个方式听新闻 下载mp3 此举令许多巴菲特的追随者感到意外，因为这位亿万富翁几十年来一直对高增长的科技公司持谨慎态 度。巴菲特一直将伯克希尔的第一大重仓股苹果公司，视为一家消费品公司。 因此，对Alphabet的这笔投资决策很可能是巴菲特的两位副手之一，Todd Combs或Ted Weschler做出 的，他们对伯克希尔高达3000亿美元的股票投资组合的影响力与日俱增。伯克希尔许多偏向科技股的投 资，都出自这两人之手，包括2019年开始建仓的亚马逊。至今，伯克希尔仍持有价值22亿美元的亚马逊 股票。 不过，考虑到这笔投资的规模，此举很可能得到了巴菲特的首肯，而巴菲特本人将于今年年底卸任首席 执行官一职。 Alphabet是今年美股的最大赢家之一，股价累计上涨了46%，投资者对其在人工智能领域的加速推进和 云业务盈利能力的迅速改善给予了积极回报。曾一度拖累利润率的谷歌云，其收入增长现已转变为关键 的盈利驱动力。 权力交接的信号？ 音频由扣子空间生成 Glenview Trust Company的首席投资官Bill Stone表示，随着领导权向下一代过渡，收购Alphabet可能反 映出伯克希尔在科 ...

Group 1 - The report suggests that the Hong Kong stock market is expected to experience short-term fluctuations, with a potential slowdown in upward momentum, but the current positioning is attractive for medium to long-term allocation [1] - There are no significant positive macro policy signals expected in the short term, and the market may refocus on policy ahead of the Central Economic Work Conference in December [1] - The Hong Kong technology sector is still undergoing adjustments, with insufficient upward momentum for AI technology stocks, particularly as the market awaits signals from Nvidia's upcoming earnings report [1][2] Group 2 - Historical data indicates that dividend stocks tend to perform relatively well in November and December, and the current market is following this trend [1] - In the U.S. stock market, the Dow Jones increased by 0.3%, while the S&P 500 rose by 0.1%, and the Nasdaq fell by 0.5%, with telecommunications and energy sectors leading gains [1] - The report highlights that the Federal Reserve continues to send hawkish signals, reducing the likelihood of rate cuts in December, with expectations dropping from 98% to 53% [1][3] Group 3 - The report notes that the U.S. government has ended its longest shutdown in history, which may alleviate liquidity concerns in the market [2] - Upcoming earnings reports from key companies like Nvidia and Walmart are expected to influence market sentiment, particularly in the technology and consumer sectors [2] - The report emphasizes that while macroeconomic conditions remain uncertain, the reopening of the government is expected to release liquidity and ease tensions in the U.S. market [2] Group 4 - The report indicates that the impact of tariffs on inflation is more of a one-time effect, and the risk of a downturn in U.S. employment should not be overlooked [3] - It is anticipated that the Federal Reserve will still consider a rate cut in December, especially with upcoming economic data releases [3]

Group 1 - The Hong Kong and A-shares market experienced a deepening decline, with the Hang Seng Technology Index falling by 1.86% and the Hang Seng Internet ETF down by 0.56% as of the report time [1] - Recent market conditions have seen a surge in risk aversion, with a comprehensive sell-off in the US market, leading to the S&P 500 and Nasdaq both falling below their 50-day moving averages [1] - The Hang Seng Internet ETF has seen a continuous inflow of funds for 13 days, accumulating 1.66 billion yuan in the last two days, indicating strong investor interest in internet stocks [1] Group 2 - The Free Cash Flow ETF, which is noted for its low fees, declined by 1.66% and currently has a total size of 6.656 billion yuan, making it the largest in its category [2] - Key holdings in the Free Cash Flow ETF include China National Offshore Oil Corporation, SAIC Motor, Shaanxi Coal and Chemical Industry, and Gree Electric Appliances [2]

11月18日消息，截止13:05，拼多多概念板块大涨，宣亚国际、值得买涨停，壹网壹创、易点天下、万 兴科技等个股涨幅居前。 责任编辑：小浪快报 ...

Core Insights - Bilibili's Q3 2025 revenue reached 7.69 billion yuan, a 5% year-on-year increase, meeting expectations; adjusted net profit was 790 million yuan, significantly exceeding Bloomberg consensus by 22%, with a profit margin of 10.2%, continuing to improve quarter-on-quarter [1][2] User Metrics - Monthly Active Users (MAU) grew by 8% year-on-year to 376 million, maintaining an 8% growth rate for three consecutive quarters; Daily Active Users (DAU) increased by 9% to 117 million, with a D/M ratio rising to 31%; average daily usage time per user reached 112 minutes, up by 6 minutes year-on-year, indicating strong user engagement [1][2] Revenue Breakdown - Advertising revenue accelerated with a year-on-year growth rate of 23%, surpassing expectations; game revenue declined by 17% year-on-year, in line with expectations; value-added services revenue grew by 7% year-on-year, below expectations, with significant growth in premium membership driven by quality content [1][2] Operational Efficiency - Gross margin stood at 36.7%, meeting expectations and marking the 13th consecutive quarter of improvement; total operating expenses decreased by 6% year-on-year, with management and R&D expenses stable, while sales expenses dropped by 13% due to reduced game promotion [2] Mid-term Growth Drivers - Mid-term profit growth is supported by a healthy community ecosystem, confirmed advertising monetization potential, and effective cost control; potential growth drivers include community monetization through gaming and AI applications enhancing content and advertising efficiency [2] Profit Forecast Adjustments - The adjusted net profit forecast for 2025 is raised to 2.569 billion yuan from 2.452 billion yuan; slight downward adjustments for 2026-2027 net profit forecasts to 3.018 billion and 4.052 billion yuan respectively, reflecting expectations for new game launches [3] Investment Rating - The company maintains a "buy" rating, emphasizing the long-term value of its highly engaged young community [3]