港股點評 2025年12月18日9:30 a.m 港交所(00388.HK) 旗下聯合交易所就有關持續公眾持股量規定的公眾諮詢刊 發諮詢總結，宣布新的持續公眾持股量規定將於 2026 年 1 月 1 日起生效。是次 採納主要改革措施主要包括引入替代持續公眾持股量門檻，除了上市時規定須 符合的百分比門檻外，上市公司未來將可選擇替代門檻，來滿足持續公眾持股 量要求，由公眾人士持有的股份類別必須佔上市股份類別已發行股份總數的至 少 10%，為了在進行股份回購等資本管理交易有更大靈活度，公司市值至少要 達到 10 億元。 日本國家旅遊局數據顯示，11 月訪日旅客人數為 351.8 萬，按年升 10.4%。受日 中關係惡化影響，訪日的中國旅客 56.26 萬人次，按年微增 3%，增幅較 10 月的 22.8%顯著縮小。訪日香港旅客按年減少 8.6%至 20.76 萬。 恒指升 233 點，滬指升 45 點，標普 500 跌 78 點 港股在內地股市帶動下上升，恒指高開 8 點，初段跌 67 點低見 25,168 點後反 彈，午後倒升 259 點一度高見 25,494 點。全日升 233 點或 0.9%，收 25,468 ...

Market Overview - The Hang Seng Index is expected to fluctuate around 26,000 points due to the Federal Reserve's hawkish stance on interest rate cuts and ongoing uncertainties in the US-China trade relations [1] - The third quarter economic performance in mainland China has further cooled, prompting a focus on expanding domestic demand and promoting technological self-reliance as outlined in the 14th Five-Year Plan [1] Company News - Pony.ai (2026) has set its share offering price at HKD 139 [3] - Geely has acquired a 26.4% stake in Renault's Brazilian operations, allowing it to benefit from production and sales at the Brazilian factory [3] - Chow Tai Fook (1929) has adjusted prices for some gold products starting today [3] - Sa Sa International (0178) has issued a profit warning, expecting a mid-term profit increase of over 50% [3] Economic Indicators - The US Federal Reserve announced a 0.25% interest rate cut, lowering the target range to 3.75% to 4.00%, and plans to end balance sheet reduction starting December [4] - The Hang Seng Index closed at 26,158 points, up 0.97%, with a trading volume of HKD 228.7 billion [5] - The manufacturing PMI in China fell to 50.6 in October, below expectations, indicating a slowdown in economic activity [7] Sector Focus - The insurance sector is seeing improved investment returns in Q3 due to strong performance in A-shares [6] - AI concept stocks are benefiting from accelerated applications of "Artificial Intelligence+" in mainland China, with breakthroughs in chip development [6] - Macau gaming stocks reported October gaming revenue exceeding expectations, reaching a nearly six-year monthly high [6] Regulatory Developments - The Hong Kong Monetary Authority has launched the "FinTech 2030" initiative, focusing on over 40 projects across four key areas to enhance the financial technology landscape [8] - The Securities and Futures Commission has issued new guidelines to facilitate licensed virtual asset trading platforms, allowing them to merge trading instructions with affiliated overseas platforms [8]