新加坡元/港币 (SGDHKD) 加自选

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%.

2025年9月，新加坡的银行贷款从8月的8517亿新元增至8638亿新元，创下历史新高，此前一个月的增幅为四个月来最小。企业贷款有所增加，从8月份的5146亿新元增至9月份的5240亿新元。制造业（268亿新元对248亿新元）、农业、采矿和采石业（34亿新元对33亿新元）和建筑业（1812亿新元对1790亿新元）的增长尤为显著，一般商业（901亿新元对869亿新元）以及运输、仓储和通信（442亿新元对436亿新元）。

Singapore’s bank loans rose to SGD 863.8 billion in September 2025, up from SGD 851.7 billion in August, marking a record high after posting the smallest increase in four months in the previous month. Increases were seen in loans to businesses, rising to SGD 524.0 billion in September from SGD 514.6 billion in August. Growth was particularly notable in manufacturing (SGD 26.8 billion vs. 24.8 billion), agriculture, mining, and quarrying (SGD 3.4 billion vs. 3.3 billion), building and construction (SGD 181.2 billion vs. 179.0 billion), general commerce (SGD 90.1 billion vs. 86.9 billion), and transportation, storage, and communication (SGD 44.2 billion vs. 43.6 billion).

恒生指数周四下跌63点，跌幅0.2%，收于26283点，扭转了早盘涨势，标志着第二个交易日下跌。鉴于过去的谈判最初显示出了希望，但后来出现了动摇，市场质疑特朗普总统和Xi会晤后可能达成的美中贸易协议是否会持续，市场情绪变得谨慎。特朗普表示，美国将很快将中国的芬太尼关税降至10%，而北京的稀土出口限制将暂停一年，但交易员仍对该协议的持久性持谨慎态度。在中国10月PMI数据和香港第三季度GDP报告发布之前，谨慎也有所增加。美联储今年第二次降息后，美国期货涨跌互现，这表明进一步宽松政策没有保证。大多数行业以房地产和科技股领跌。Techtronic Industries下跌（-5.0%），紧随其后的是Sunny Optical Tech（-4.8%）、Prada Spa（-4.3%）、Trip.com（-3.4%）和Henderson Land Development（-2.6%）。

The Hang Seng fell 63 points, or 0.2%, to close at 26,283 on Thursday, reversing early gains and marking the second session of declines. Sentiment turned cautious as markets questioned whether the potential U.S.-China trade deal following a meeting between President Trump and Xi Jinping would hold, given past negotiations that initially showed promise but later faltered. Trump said the U.S. will soon cut China’s fentanyl tariffs to 10%, while Beijing’s rare earth export curbs will be suspended for one year, but traders remained wary about the deal’s durability. Caution also grew ahead of China’s October PMI readings and Hong Kong’s Q3 GDP report. U.S. futures were mixed after the Fed’s second rate cut of the year, which signaled that further easing is not guaranteed. Most sectors ended in the red, led by property and technology. Techtronic Industries slipped (-5.0%), followed by Sunny Optical Tech (-4.8%), Prada Spa (-4.3%), Trip.com (-3.4%), and Henderson Land Development (-2.6%).

香港股市周四早盘上涨145点，涨幅0.6%，至26487点，扭转了前一交易日的小幅下跌，周三假期后交易恢复。金融和消费板块领涨，受美联储降息25个基点后美国期货小幅上涨的支撑，而香港金融管理局也反映了这一行动，将借贷成本降至2022年11月以来的最低水平。在贸易方面，经过数月的紧张局势，美国总统特朗普和中国领导人Xi今天准备在韩国正式宣布贸易和关税休战。然而，在中国10月PMI数据和香港第三季度GDP报告发布之前，进一步的增长受到限制。与此同时，美联储鲍威尔表示，进一步降息并非板上钉钉。早期投资者包括黄金矿商紫金黄金国际（5.3%）和招金矿业（3.3%），以及重量级的腾讯控股。（1.6%）、美团（1.1%）和中国虹桥集团（6.3%）。

Hong Kong stocks rose 145 points, or 0.6%, to 26,487 on Thursday morning trade, reversing modest losses from the previous session as trading resumed after Wednesday’s holiday. Gains were mainly led by financial and consumer sectors, supported by slight rises in U.S. futures following the Fed’s 25bps rate cut, while the ong Kong Monetary Authority mirrored the action, bringing borrowing costs to the lowest level since November 2022. On the trade front, U.S. President Trump and Chinese leader Xi Jinping are poised to formalize a trade and tariff truce today in South Korea after months of tensions. However, further advances were capped ahead of China’s October PMI readings and Hong Kong’s third-quarter GDP report. Meanwhile, Fed Powell signaled that a further rate cut is not a foregone conclusion. Early movers included gold miners Zijin Gold Intl. (5.3%) and Zhaojin Mining (3.3%), alongside heavyweight Tencent Holdings. (1.6%), Meituan (1.1%), and China Hongqiao Group (6.3%).