香港股市在周二早盘交易中下跌195点，跌幅0.7%，至26160点，标志着随着大多数板块下跌，股市连续第二天下跌。在中国央行行长潘功胜周一的简报未能提供投资者所希望的宽松措施后，市场情绪有所减弱，在出口弹性和股市反弹的情况下，政策制定者对重大刺激措施的紧迫性不大。在美国，期货市场保持稳定，因为美联储官员缓和了进一步降息的押注，并指出通胀仍高于目标，尽管新任美联储理事斯蒂芬·米兰继续主张进一步降息。当地数据显示香港8月份通胀稳定，当局预计价格压力短期内将保持温和，从而抑制了损失。另外，中国证监会承诺提高上市公司的质量，吸引全球资本，并加强监管。主要下跌股包括中生制药（-4.7%）、地平线机器人（-3.3%）、中芯国际（-3.1%）和中国虹桥（-3.0%）。

Hong Kong shares fell 195 points or 0.7% to 26,160 in early deals on Tuesday, marking a second day of losses as most sectors retreated. Sentiment weakened after PBoC Governor Pan Gongsheng’s Monday briefing failed to deliver the easing measures investors had hoped for, with policymakers showing little urgency for major stimulus amid resilient exports and a stock market rally. In the U.S., futures were steady as Fed officials tempered bets for further cuts, noting inflation remains above target, though new Fed Governor Stephen Miran continued to advocate for deeper cuts. Losses were capped by local data showing Hong Kong’s inflation was stable in August, with authorities expecting price pressures to stay modest near term. Separately, the China Securities Regulatory Commission pledged to improve the quality of listed firms, attract global capital, and tighten supervision. Key decliners included Sino Biopharma (-4.7%), Horizon Robotics (-3.3%), SMIC (-3.1%), and China Hongqiao (-3.0%).

香港的年通胀率从上月的1.0%小幅上升至2025年8月的1.1%，符合市场预期。这一增长是由运输（2.5%对7月份的1.4%）、杂项服务（1.5%对0.9%）和酒精饮料和烟草（1.8%对1.7%）的价格增长加快以及服装和鞋类的跌幅较小（-2.8%对-3.4%）推动的。与此同时，住房（稳定在1.7%）和食品（0.8%）保持稳定。相反，这一增长被电力、天然气和水（0.6%对0.7%）、杂项商品（0.1%对0.3%）的价格增长放缓以及耐用品的进一步下降（-3.1%对-2.3%）部分抵消。8月份消费者价格环比上涨0.1%，增速低于7月份的0.6%。

The annual inflation rate in Hong Kong edged up to 1.1% in August 2025 from 1.0% in the previous month, in line with market expectations. The increase was driven by faster price growth in transport (2.5% vs 1.4% in July), miscellaneous services (1.5% vs 0.9%), and alcoholic drinks and tobacco (1.8% vs 1.7%), as well as a smaller decline in clothing and footwear (-2.8% vs -3.4%). Meanwhile, housing (stable at 1.7%) and food (0.8%) remained steady. Conversely, the increase was partially offset by softer price growth in electricity, gas, and water (0.6% vs 0.7%), miscellaneous goods (0.1% vs 0.3%), and a further drop in durable goods (-3.1% vs -2.3%). On a month-over-month basis, consumer prices rose 0.1% in August, slowing from a 0.6% increase in July.

周一，恒生指数下跌201点，跌幅0.8%，收于26344点，扭转了前一交易日持平的局面，因为美国期货在美联储讲话和本周美国关键通胀报告之前大幅下跌。在香港将于今天晚些时候发布8月份通胀数据之前，人们也越来越谨慎，而香港正准备迎接多年来最强的超级台风之一。香港国际机场将从周二晚上起暂停客运航班36小时，机场管理局确认为这场名为Ragasa的风暴做好准备。中国央行决定在9月份将关键贷款利率连续第四个月保持在历史最低水平，这在一定程度上缓解了损失，符合预期。房地产股领跌，跌幅超过1%，其次是金融、消费者和科技股。比亚迪公司股价下跌2.2%，此前有文件显示伯克希尔哈撒韦公司已完全退出其17年的股份。其他明显的输家包括中信（-6.3%）、SITC国际（-5.9%）、Techtronic Inds。（-4.0%）和快手科技（-2.2%）。

The Hang Seng dropped 201 points or 0.8% to close at 26,344 on Monday, reversing a flat finish in the prior session as U.S. futures fell sharply ahead of Fed speeches and a key U.S. inflation report this week. Caution also grew ahead of Hong Kong’s August inflation data due later today, while the city braced for one of its strongest super typhoons in years. Hong Kong International Airport will suspend passenger flights for 36 hours from Tuesday evening, with the Airport Authority confirming preparations for the storm, named Ragasa. Losses were partly cushioned by the PBoC’s decision to keep key lending rates at record lows for a fourth month in September, in line with expectations. Property stocks led declines, down over 1%, followed by financials, consumers, and tech. BYD Co. slipped 2.2% after filings showed Berkshire Hathaway had fully exited its 17-year stake. Other notable losers included Citic (-6.3%), SITC Intl. (-5.9%), Techtronic Inds. (-4.0%), and Kuaishou Tech (-2.2%).

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Stocks in Hong Kong slipped 203 points, or 0.8%, to 26,334 in early Monday trade after a muted close in the prior session. Weakness in U.S. futures weighed on sentiment, after the Dow Jones and S&P 500 hit record highs Friday, as the Fed’s rate cut lingered in investors’ minds. Locally, Hong Kong’s current account surplus eased in Q2 2025, marking the smallest amount since Q4 2023. All sectors dropped, with property, tech, and consumer stocks among big laggards. Still, losses were capped by the PBoC's move to hold key lending rates steady at record lows for a fourth month in September, in line with consensus. Meantime, U.S. President Trump said he and Xi Jinping approved the TikTok deal in a “productive” call, though Beijing has not confirmed. Kuaishou Tech dropped 3.4% after a probe into its e-commerce unit, while SITC Intl. (-4.5%), Citic (-3.9%), Orient Overseas (-3.7%), and Meituan (-3.0%) also fell. In contrast, Shandong Hi-Speed surged 11% after repurchasing 3.7 million shares.