恒生指数周二下跌206点，跌幅0.8%，收于25952点，因行业普遍下跌导致市场情绪恶化，放弃了早盘涨幅。科技指数下跌1.8%，此前美国总统特朗普表示，英伟达将被禁止向中国出售其最先进的人工智能芯片，尽管允许向北京出售一些芯片。交易员在很大程度上忽视了中国提高补贴、削减主要数据中心能源账单的报道。消费者和房地产股也出现下跌，此前中国内地股市下跌，由于美联储在今年两次降息后利率路径的不确定性以及持续的政府关门担忧，美国期货暴跌。在商业方面，陷入困境的中国房地产公司再次引起人们的关注：新世界公布了一项19亿美元的债券互换计划，包括债权人减记，而万科的美元债券在其最大股东收紧贷款条款后下跌。跌幅较大的包括李汽车（-3.7%）、创新生物（-3.5%）、紫金黄金（-2.9%）和小米公司（-2.7%）。

The Hang Seng dipped 206 points, or 0.8%, to finish at 25,952 on Tuesday, giving up early gains as sentiment deteriorated amid widespread sectoral declines. The tech index fell 1.8% after U.S. President Trump said Nvidia would be barred from selling its most advanced AI chips to China, despite allowing some sales to Beijing. Traders largely ignored reports that China raised subsidies, cutting energy bills for major data centers. Consumer and property shares also retreated, following mainland declines as U.S. futures plunged due to uncertainty over the Fed’s rate path after two cuts this year and ongoing government shutdown concerns. On the business front, distressed Chinese property names again drew focus: New World unveiled a USD 1.9 billion bond swap plan including creditor haircuts, while Vanke’s dollar bonds fell after its largest shareholder tightened loan terms. Notable decliners included Li Auto (-3.7%), Innovent Biologics (-3.5%), Zijin Gold (-2.9%), and Xiaomi Corp. (-2.7%).

香港股市周二早盘上涨55点，涨幅0.2%，至26210点，标志着随着大多数板块走强，股市连续第二个交易日上涨。行政长官John Lee表示，香港在2025年前十个月录得80宗首次公开募股，突显出该市资本市场的韧性。中国副总裁何立峰还表示，希望香港与内地经济和金融部门加强合作，以提升香港的全球金融中心地位。与此同时，北京将45个国家公民的免签证入境政策延长至2026年12月31日，并从11月10日开始将瑞典列入名单。然而，由于今年两次降息后美联储政策路径的不确定性以及对政府持续关闭的担忧，美国期货下跌限制了涨幅。领先者包括H World Group（5.5%）、中芯国际（3.4%）、中信有限公司（3.0%）和腾讯音乐娱乐（2.4%）。

Shares in Hong Kong rose 55 points or 0.2% to 26,210 on Tuesday morning deals, marking a second straight session of advances as most sectors strengthened. Sentiment was supported by comments from Chief Executive John Lee, who said Hong Kong recorded 80 IPOs in the first ten months of 2025, underscoring the city’s resilient capital markets. Chinese VP He Lifeng also expressed hopes for stronger cooperation between Hong Kong and the mainland’s economic and financial sectors to boost the city’s global financial hub status. Meanwhile, Beijing extended its visa-free entry policy for citizens of 45 countries until Dec. 31, 2026, and added Sweden to the list starting Nov. 10. However, gains were limited by a decline in U.S. futures amid uncertainty over the Federal Reserve’s policy path following two rate cuts this year and concerns over the ongoing government shutdown. Early movers included H World Group (5.5%), SMIC (3.4%), Citic Ltd. (3.0%), and Tencent Music Entertainment (2.4%).

香港股市在11月初的早盘微涨47点，涨幅0.2%，至25949点，试图从连续三个交易日的下跌中恢复过来，主要来自金融和房地产股。周五华尔街周线和月线上涨后，美国期货价格显著上涨支撑了市场情绪。投资者还欢迎白宫的言论，即作为新贸易协定的一部分，中国将解除对稀土的出口管制，并结束对美国半导体公司的调查。在本地，香港第三季度经济同比增长3.8%，为2023年末以来最快，主要受强劲的国内需求和强劲的出口推动，而9月份零售额增长4.8%，为近两年来最高。然而，在一项私人调查显示中国工厂活动增长从10月份的6个月高点有所放缓，而官方PMI数据显示为6个月来最大跌幅后，上行势头有限。表现优异的公司包括友邦保险集团（3.9%）、小米公司（3.3%）和Pop-Mart International（1.8%）。

Hong Kong stocks edged up 47 points, or 0.2%, to 25,949 in early trade at the start of November, attempting to recover from three consecutive sessions of losses, amid gains mainly from financial and property shares. A notable rise in U.S. futures supported sentiment after Wall Street’s weekly and monthly gains on Friday. Investors also welcomed remarks from the white House that China will lift export controls on rare earths and end probes into U.S. semiconductor firms as part of a new trade pact. Locally, Hong Kong’s economy grew 3.8% yoy in Q3, the fastest since late 2023, driven by strong domestic demand and solid exports, while retail sales rose 4.8% in September, the highest in nearly two years. However, upside momentum was limited after a private survey showed China’s factory activity growth eased from a 6 month-high in October, while official PMI data indicated the sharpest drop in six months. performers included AIA Group (3.9%), Xiaomi Corp. (3.3%), and Pop Mart Intl. (1.8%).

香港股市周五早盘下跌200点，跌幅0.8%，至26078点，连续第三个交易日下跌，大部分板块下跌。10月份中国疲软的官方PMI数据打压市场情绪，工厂活动以六个月来最快的速度收缩，而服务业仍然疲软。交易员们对美中临时贸易休战仍持谨慎态度，这使得一些结构性问题悬而未决。与此同时，投资者对香港今天晚些时候的第三季度GDP报告保持警惕。在华尔街，美联储主席鲍威尔表示，在今年第二次降息后，12月的降息“并非板上钉钉”，随后股市隔夜收跌。值得注意的亏损包括中芯国际（-4.5%）、中国人民财产保险股份有限公司（-3.2%）、沃尔玛国际（-2.8%）和腾讯控股（-1.5%）。本周，市场有望小幅下跌，迄今为止下跌约0.3%，这可能是六个月来的首次月度下跌，跌幅接近3%。

Hong Kong equities fell 200 points, or 0.8%, to 26,078 in early trade on Friday, retreating for the third consecutive session as most sectors declined. Weak official PMI data from China in October weighed on sentiment, with factory activity contracting at the fastest pace in six months while the services sector remained subdued. Traders also remained cautious over the temporary U.S.-China trade truce, which leaves some structural issues unresolved. Meantime, investors vigilantly anticipate Hong Kong’s Q3 GDP report later today. On Wall Street, stocks closed lower overnight after Fed Chair Powell signaled that a December cut “is not a foregone conclusion” after a second rate reduction this year. Notable losses included SMIC (-4.5%), PICC Property & Casualty (-3.2%), Pop Mart Intl. (-2.8%), and Tencent Holdings (-1.5%). For the week, markets are on track for a slight decline, down around 0.3% so far, potentially marking the first monthly drop in six months, with losses nearing 3%.