智通财经APP讯，香港宽频(01310)发布公告，本公司获中移香港告知，于本公告日期，中移香港(连同 其一致行动人士)拥有权益的股份数目与先前公告所披露的状况维持不变，即11.07亿股股份(占本公司已 发行股份总数约74.84%)。 基于上文所述，于本公告日期，3.71亿股股份(占本公司已发行股份总数约25.07%)由公众人士(定义见上 市规则)持有。因此，本公司已恢复上市规则规定之已发行股份总数25%的最低公众持股量。 就本公司所深知，本公司核心关连人士(中移香港除外)拥有权益的股份数目已由先前公告所披露的 3320.7万股股份(占本公司已发行股份总数约2.25%)减至于本公告日期的132.35万股股份(占本公司已发 行股份总数约0.09%)。 ...

此外，张浩恩也对高息股前景看俏，当中除传统高息股如中资电讯、内银、内险及能源股外，认为必需 消费品股份在估值回落后，如息率有3%以上，亦有值得博弈的空间。 他又提到，内地人工智能(AI)产业链广泛，涵盖多个范畴，今年为"十五五"开局年，内地或在创新发展 方面增加对AI相关开支，中美在AI方面的竞争，会带动新能源和自动驾驶等行业，而云计算等AI应用 层面亦可受惠，故建议可逢低吸纳行业龙头股。 港股踏入2026年取得"开门红"，首个交易日已急升逾700点。中信银行(国际)个人及商务银行业务投资 主管张浩恩表示，港股去年第四季表现跑输不少主要市场，只因累积不少升幅后，资金趁年底获利，对 今年股市仍然乐观，料两大因素可提振大市。 他指出，由于内地重要会议集中在3月及4月，加上仍未知下任美联储主席人选，市况仍需时观察，如美 国今年减息预期增加，美元转弱，自然对港股有利，料恒指今年目标为29500点。 ...

2025 年 12 月 24 日 招银国际环球市场 | 市场策略 | 招财日报 全球市场观察 全球市场观察 每日投资策略 招银国际研究部 邮件：research@cmbi.com.hk | 环球主要股市上日表现 | | | | | --- | --- | --- | --- | | | 收市价 | | 升跌（%） | | | | 单日 | 年内 | | 恒生指数 | 25,774 | -0.11 | 28.49 | | 恒生国企 | 8,914 | -0.29 | 22.28 | | 恒生科技 | 5,489 | -0.69 | 22.85 | | 上证综指 | 3,920 | 0.07 | 16.95 | | 深证综指 | 2,492 | -0.02 | 27.32 | | 深圳创业板 | 3,205 | 0.41 | 49.65 | | 美国道琼斯 | 48,442 | 0.16 | 13.86 | | 美国标普 500 | 6,910 | 0.46 | 17.48 | | 美国纳斯达克 | 23,562 | 0.57 | 22.01 | | 德国 DAX | 24,340 | 0.23 | 22.26 ...

有關HGC環電 香港交易及結算所有限公司以及香港聯合交易所有限公司對本公告的內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示概不就本公告全部或任 何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 義 合 Yee Hop Holdings Limited 義合控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1662） 自願公告 與HGC環電的合作安排 謹此提述義合控股有限公司（「本公司」，連同其附屬公司，統稱為「本集團」）日期 為2025年11月10日（「該公告」）之公告，內容有關Trio AI Limited（「Trio AI」）的業 務發展。本公告乃由本公司自願作出，旨在向本公司股東及潛在投資者提供Trio AI的最新業務發展情況。 與HGC環電的合作安排 本公司董事會（「董事會」）欣然宣佈，Trio AI近期已與環球全域電訊有限公司（「HGC 環電」）訂立合作安排。根據該安排，Trio AI與HGC環電同意建立戰略合作關係， 由Trio AI提供人工智能加速伺服器(AIAS)服務，旨在為企業客戶提供高效能的人 工智能驅動運算解決方案。雙方將共同開發及交付人工智能基礎 ...

Macro Economic Overview - The US economy shows signs of slight weakening in employment, with October non-farm payrolls significantly declining due to the end of government layoffs, although private employment continues to expand [2] - November non-farm payrolls rebounded better than market expectations, primarily in construction, healthcare, and education services, while the unemployment rate unexpectedly rose to 4.6%, the highest in nearly four years [2] - The overall job market is weakening but not severely deteriorating, with initial and continuing claims for unemployment benefits showing slight improvement [2] - The economic growth rate and unemployment rate are expected to stabilize by 2026, with inflation anticipated to decrease before rising again, and the Federal Reserve may lower interest rates once in June [2] Global Market Performance - The Hang Seng Index closed at 25,469, up 0.92% year-to-date, while the Hang Seng Tech Index rose 1.03% [2] - The Shanghai Composite Index increased by 1.19%, and the Shenzhen Composite Index saw a rise of 1.68% [2] - In the US, the Dow Jones fell by 0.47%, and the S&P 500 decreased by 1.16%, while the Nasdaq dropped by 1.81% [2] - The DAX in Germany and CAC in France also experienced slight declines, while the FTSE 100 in the UK rose by 0.92% [2] Sector Performance in Hong Kong - The Hong Kong stock market saw a rebound, with materials, information technology, and financial sectors leading the gains, while utilities, telecommunications, and real estate lagged [4] - Southbound capital recorded a net inflow of HKD 7.909 billion, with Xiaomi, Meituan, and Alibaba being the top net purchases, while China Mobile and CNOOC saw significant net sales [4] - The Hang Seng Financial Index rose by 1.03% year-to-date, while the Hang Seng Industrial Index increased by 0.94% [3] Chinese Market Developments - The Chinese market regulatory authority warned that requiring merchants to offer "lowest prices online" could constitute monopoly behavior, encouraging platform companies to develop algorithm screening to prevent algorithmic monopolies [4] - The Hainan Free Trade Port is set to launch full island closure, focusing on "one line open, one line controlled" to promote trade and investment liberalization, significantly reducing business operating costs [4] US Market Insights - The US stock market continued to decline, with technology, industrial, and communication services sectors leading the losses, while energy, consumer staples, and materials sectors saw gains [4] - The AI sector faced continued sell-offs, with Nvidia and Caterpillar experiencing significant declines [4] - The Federal Reserve's latest survey indicated that CFOs expect a 4.2% increase in US prices next year, significantly higher than the Fed's forecast of inflation returning close to 2% [4]

Group 1 - The core view of the report indicates that Hong Kong stocks outperformed global investor expectations in 2025, with the Hang Seng Index rising by 30%, the Hang Seng Tech Index by 26.7%, and the Hang Seng China Enterprises Index by 26.2%, surpassing major global markets such as the S&P 500, DAX, and Nikkei 225 [1][8][11] - The report anticipates that Hong Kong stocks will continue to rise in 2026 due to several factors, including expected interest rate cuts by the Federal Reserve, a temporary easing of Sino-US relations, and synchronized monetary and fiscal policies in China [1][16][21] - The report emphasizes that the main investment themes for 2026 will be technology and cyclical sectors, with a focus on innovative pharmaceuticals, suggesting a barbell strategy for portfolio allocation to mitigate potential risks from overseas macroeconomic and political uncertainties [1][3][16] Group 2 - The report highlights that the first half of 2026 is expected to present more trading opportunities, driven by domestic and international factors, including a favorable policy environment in China and anticipated interest rate cuts by the Federal Reserve [2][16] - It is noted that the cyclical sectors are likely to benefit from domestic policies aimed at reducing internal competition and improving global demand, with a focus on commodities and real estate stocks in Hong Kong [3][16] - The report also points out the potential for continued inflows of southbound capital into Hong Kong stocks, driven by a "wealth effect" as market performance improves [1][11][16]

电讯盈科公告，就有关2024年股份奖励及2023年一般授权(而非于日期为2025年11月13日的公告所披露 的2025年一般授权)于2025年11月28日配发及发行股份28.78万股。于同日，以按照股份奖励计划授出奖 励而配发及发行股份641.14万股。 香港联交所最新资料显示，12月10日，电讯盈科(00008)股东将股票存入华侨银行香港，存仓市值15.02 亿港元，占比3.26%。 ...

于同日，以按照股份奖励计划授出奖励而配发及发行股份641.14万股。 智通财经APP讯，电讯盈科(00008)发布公告，就有关2024年股份奖励及2023年一般授权(而非于日期为 2025年11月13日的公告所披露的2025年一般授权)于2025年11月28日配发及发行股份28.78万股。 ...

智通财经APP讯，香港电讯-SS(06823)发布公告，于2025年11月28日发行262.23万股股份合订单位，以 按照香港电讯信托与香港电讯有限公司2024年股份合订单位奖励计划而授出的奖励。 ...

Core Viewpoint - The Hong Kong dividend assets have shown strong performance, rivaling the technology sector, with significant increases in key dividend indices over the past year [1][4]. Performance of Dividend Indices - The Hong Kong Stock Connect High Dividend (CNY) and the Hang Seng High Dividend Low Volatility indices have reached historical highs, with annual increases of 31.65% and 33.57% respectively, outperforming the Hang Seng Technology Total Return Index, which rose by 28.02% during the same period [1][4]. Market Dynamics - The divergence between the technology and dividend sectors began in October 2025, influenced by external factors such as the escalating US-China tariff disputes and government shutdown risks, leading to a shift in investor sentiment towards more defensive dividend assets [4][5]. - The technology sector's high valuations and lack of new catalysts during a policy and earnings vacuum have prompted funds to move towards more reasonably valued dividend stocks [4]. Southbound Capital Inflows - Despite market volatility, southbound capital has consistently flowed into Hong Kong stocks, with net inflows exceeding 1.3 trillion HKD in 2025, marking a record high since the launch of the Stock Connect [6][7]. - The financial, energy, consumer discretionary, and telecommunications sectors have attracted the most southbound capital, indicating a growing interest in dividend assets [7]. Institutional Investment Trends - Insurance capital has increasingly targeted dividend assets, with 36 instances of stake acquisitions in 2025, surpassing previous highs and focusing on stable, high-dividend sectors such as banking and utilities [8][9]. - The dividend yields of the Hong Kong Stock Connect High Dividend (CNY) and the Hang Seng High Dividend Low Volatility indices stand at 5.53% and 5.69%, significantly higher than comparable A-share indices [9]. Investment Strategy - In the current low-interest-rate environment, the dividend yields from Hong Kong stocks present a compelling alternative to domestic bonds, which yield only 1.81% [9]. - The Hong Kong dividend ETFs have shown strong performance, with the Hong Kong Stock Connect High Dividend ETF achieving a 69.51% return since its inception, outperforming its benchmark [15][16].