周三，恒生指数上涨141点，涨幅0.6%，收于23654点，标志着连续第二天上涨，人们乐观地认为，美国总统特朗普和中国Xi即将举行的通话可能会缓解贸易紧张局势。美国贸易伙伴提交避免将在五周内生效的高额关税的提案的最后期限也迫在眉睫。香港医疗保健指数领涨，上涨约3%，投资者押注创新药物制造商的盈利增长。信达生物飙升13.8%，紧随其后的是中海壳牌制药（2.8%）、汉生制药（2.6%）和无锡生物制品（1.6%）。小米也小幅上涨，此前其首席执行官表示，该公司的电动汽车部门可能会在2025年下半年实现盈利。对特朗普今天生效的50%钢铁关税的担忧，以及中国5月服务业数据公布前的谨慎态度，抑制了涨幅。4月，服务业活动以七个月来最慢的速度增长。其他显著的推动者包括Smoore International（12.1%）、Pop-Mart International（4.6%）和美团（2.9%）。

The Hang Seng rose 141 points or 0.6% to close at 23,654 on Wednesday, marking a second straight day of gains amid optimism that an upcoming call between U.S. President Trump and China’s Xi Jinping could ease trade tensions. The deadline also loomed for U.S. trading partners to submit proposals to avoid steep tariffs set to take effect in five weeks. Hong Kong’s healthcare index led sector gains, up around 3% as investors bet on earnings growth from innovative drug makers. Innovent Biologics surged 13.8%, followed by CSPC Pharma (2.8%), Hansoh Pharma (2.6%), and Wuxi Biologics (1.6%). Xiaomi also edged higher after its CEO suggested the firm’s EV unit could turn profitable in H2 2025. Gains were tempered by concerns over Trump’s 50% steel tariff, which takes effect today, and caution ahead of Chinese services data for May. In April, services activity grew at the slowest pace in seven months. Other notable movers included Smoore Intl. (12.1%), Pop Mart Intl. (4.6%), and Meituan (2.9%).

周三中午左右，香港股市上涨114点，涨幅0.5%，至23626点，标志着股市连续第二个交易日上涨，主要来自消费和科技板块。华尔街隔夜的积极领先支持了市场情绪，美国总统唐纳德·特朗普和中国习近平主席预计将于本周晚些时候进行讨论，贸易和关税争端预计将成为讨论的中心议题。与此同时，当地媒体称，香港正寻求以离岸人民币、港元、欧元和美元发行基础设施和绿色债券，作为政府可持续债券计划的一部分。谈到新的数据，根据一项私人调查，5月份香港私营部门活动萎缩幅度为三个月来最小，对大陆的销售额在近几个月下降后趋于稳定。Smoore Holdings（6.2%）、Mixue Group（4.9%）、Pop-Mart International（4.1%）、小米公司（2.2%）和美团（1.5%）领涨。

Equities in Hong Kong rose 114 points or 0.5% to 23,626 around noon on Wednesday, marking the second straight session of advance amid strength mainly from consumer and tech sectors. A positive lead from Wall Street overnight supported sentiment, ahead of anticipated discussions later this week between U.S. President Donald Trump and Chinese President Xi Jinping, where trade and tariff disputes are expected to take center stage. Meanwhile, local media said that Hong Kong is looking to issue infrastructure and green bonds in offshore renminbi, Hong Kong dollar, euro, and US dollar terms, as part of the government's sustainable bond program. Turning to fresh data, private sector activity in the city shrank the least in three months during May, according to a private survey, with sales to the mainland stabilizing following declines in recent months. Leading gains were seen in Smoore Holdings (6.2%), Mixue Group (4.9%), Pop Mart International (4.1%), Xiaomi Corp. (2.2%), and Meituan (1.5%).

标准普尔全球香港特别行政区采购经理人指数从4月份的48.3升至2025年5月的49.0，标志着私营部门活动三个月来最温和的收缩。产出和新订单仅略有下降，表明业务恶化有所缓解。出口需求仍然疲软，但下降速度有所放缓，而对中国的销售在前几个月大幅下降后趋于稳定。受制造业和建筑业招聘的推动，就业水平自1月以来首次上升，反映出谨慎乐观的态度。供应链进一步改善，供应商绩效创下2023年4月以来最大的交付改善。采购活动也有所放缓，企业继续减少库存。在价格方面，投入成本以今年迄今为止最慢的速度上涨，导致企业适度提高了产出价格。展望未来，由于对美国贸易政策不确定性和国内需求疲软的担忧，市场情绪仍然悲观。

The S&P Global Hong Kong SAR PMI rose to 49.0 in May 2025 from 48.3 in April, marking the softest contraction in private sector activity in three months. Both output and new orders declined only marginally, signaling an easing in business deterioration. Export demand remained weak but slowed in its decline, while sales to China stabilized after sharp drops in previous months. For the first time since January, employment levels rose—driven by hiring in the manufacturing and construction sectors—reflecting cautious optimism. Supply chains improved further, with vendor performance recording the sharpest delivery improvement since April 2023. Purchasing activity also moderated, and firms continued to draw down inventories. On prices, input costs rose at the slowest pace so far this year, leading firms to modestly raised output prices. Looking ahead, sentiment remained downbeat due to concerns over US trade policy uncertainty and weak domestic demand.

美元兑港元汇率升至7.84的20个月高点。过去4周，美元香港上涨1.22%，过去12个月上涨0.4%。

USDHKD increased to a 20-month high of 7.84. Over the past 4 weeks, US Dollar Hong Kong Dollar gained 1.22%, and in the last 12 months, it increased 0.4%.