Louis Wong Commentary

Author

黃瑋傑先生(Louis Wong)
輝立証券董事

見證過去三十多年香港股市每一個牛市和熊市,可謂實戰經驗豐富。現為香港多份財經報章雜誌專欄作家,並為電視台及電台擔任客席主持。個人著作有〈炒得精叻〉、〈投資先知〉及〈股市是平的〉,並獲『中金在線』選為『2010年最受歡迎的港股分析師』。
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「習特會」後港股缺乏方向

Monday, November 3, 2025 Views189

美國聯儲局一如預期減息四分一厘,中美兩國元首亦順利地在南韓會晤,但未有對港股帶來利好刺激,恆指失守26000點,上周五收報25,906點,按周下跌254點,跌幅近1%;國指和科指按下周分別下跌2.1%和2.5%。回顧10月整體表現,恆指累跌超過3%,國指累跌超過4%,科指累跌超過8%。

 

A股方面,上證指數一度站上4000点,創十年新高,上周五收報3954點,按周微升4點;深成指和創業板指按周分別升0.7%和0.5%。總結10月,上證指數累升1.9%,為連續第六個月錄得上漲。深成指和創業板指卻都跌逾1%,均為5個月以來首次下跌。中國10月官方製造業PMI降至49 ,低於市場預期的49.6,比上月下降0.8個百分點;官方非製造業PMI微升至50.1符合預期;綜合PMI回落至50,比上月下降0.6個百分點,顯示製造業景氣有所回落,為股市帶來壓力。

 

美股在上周初段續創歷史新高,但因聯儲局主席鮑威爾表示12月不一定減息而回跌,道指周五收報47562點,按周上升0.8%;標普500指數收報6,840點,按周上升0.7%;納指收報23,724點,按周上升2.2%。全月計,標普500指數升2.3%、道指累升2.5%、納指漲4.7%。道指是自2018年以來首次連續第六個月收升。

 

說回港股,恆指未能站穩26000點。聯儲局降息和「習特會」進行後,在沒有新消息的背景下,短期缺乏方向,預料恆指將在25600點和26500點之間波動。

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