恒生指数周三收盘时几乎没有波动，在前三个交易日上涨后，收于19742点左右。交易员消化了私人调查数据，显示尽管自9月以来采取了一系列支持措施，但上个月中国服务业活动意外放缓。在香港，私营部门活动连续第二个月增长，尽管增长速度较慢。市场参与者谨慎地关注着韩国的政治发展，韩国短暂宣布戒严令，导致反对派推动弹劾尹锡悦总统。在贸易方面，在华盛顿对中国芯片行业进行最新打击后，北京宣布禁止向美国出口稀土。在美国，美联储主席鲍威尔将于今天晚些时候在纽约发表讲话，周五将公布月度就业数据。Miniso集团（4.6%）和Trip。Com（2.5%）强劲上涨，Akeso股份有限公司（-6.4%）和GCL Tech Hlds。（-4.8%）有所回落。

The Hang Seng finished a trading session with little movement on Wednesday, closing around 19,742 following gains in the previous three sessions. Traders digested private survey data revealing an unexpected slowdown in China's services activity last month, despite a series of support measures since September. In Hong Kong, private sector activity grew for the second straight month, although at a slower pace. Market participants cautiously watched political developments in South Korea, where a brief declaration of martial law led to the opposition pushing for the impeachment of President Yoon Suk Yeol. On the trade front, Beijing announced a ban on rare earth exports to the US following Washington’s latest crackdown on the Chinese chip sector. In the US, Fed Chair Powell will be speaking in New York later today, with monthly jobs data due on Friday. Miniso Group (4.6%) and Trip.Com (2.5%) posted strong gains while Akeso Inc. (-6.4%) and GCL Tech Hlds. (-4.8%) retreated.

香港股市周三早盘上涨29点，涨幅0.2%，至19781点，连续第四个交易日上涨，此前华尔街隔夜创下历史新高，美国月度就业数据即将公布，美联储主席鲍威尔发表讲话。与此同时，私人调查数据显示，11月中国服务业连续第23个月继续扩张，尽管增长率较10月的三个月峰值有所放缓。消费者和科技股大多走高，此前中国央行表示，明年将采取支持性政策立场，降低企业和家庭的融资成本。然而，美国新的芯片出口限制阻碍了进一步的增长。另外，尽管第二个月有所上升，但该市的私营部门活动从10月份的1年半峰值有所缓解。迷你索集团涨幅最大（6.3%），其次是中国虹桥集团（3.6%）、Trip。Com（3.3%）、半导体制造（2.9%）和美团（1.9%）。

Hong Kong's shares rose 29 points or 0.2% to 19,781 in early Wednesday trading, gaining for the fourth session amid a notable rise in US futures after Wall Street hit another record high overnight, ahead of the upcoming monthly US jobs data and a speech from Fed Chair Powell. Meanwhile, private survey data indicated that China's service sector continued to expand for the 23rd straight month in November, although the growth rate slowed from October's three-month peak. Consumers and tech were mostly higher, following remarks from China's central bank that it will adopt a supportive policy stance next year and reduce financing costs for businesses and households. However, new chip export curbs by the US hampered further rises. Separately, private sector activity in the city eased from October's 1-1/2 year peak despite rising for the second month. Miniso Group jumped the most (6.3%), followed by China Hongqiao Group (3.6%), Trip.Com (3.3%), Semicon Manufacturing (2.9%), and Meituan (1.9%).

标普全球香港特别行政区采购经理人指数从10月份的52.2降至2024年11月的51.2，表明私营部门的增长持续但放缓。在批发和零售业增长的推动下，新业务流入继续扩大。然而，与10月份相比，这一增长有所放缓，受到中国和国外出口需求下降的限制。同样，产出增长也随着新订单的趋势而放缓。与此同时，由于工作积压和产能压力的增加，人员配置水平自4月以来首次上升。在价格方面，投入成本通胀降至近四年低点，导致销售价格涨幅放缓。然而，由于对经济前景和潜在贸易壁垒的担忧，商业情绪恶化，达到一年多来的最低点。尽管存在这些挑战，但新业务的持续增长表明，私营部门的产出可能会在短期内继续扩大。

The S&P Global Hong Kong SAR PMI fell to 51.2 in November 2024, down from 52.2 in October, indicating sustained but slower growth in the private sector. New business inflows continued to expand, driven by increases in the wholesale and retail sectors. However, this growth slowed compared to October, capped by declining export demand from China and abroad. Similarly, output growth decelerated in line with the trend for new orders. Meanwhile, staffing levels rose for the first time since April, driven by rising backlogs of work and capacity pressures. On prices, input cost inflation eased to a near four-year low, resulting in softer increases in selling prices. However, business sentiment deteriorated, reaching its lowest point in over a year due to concerns about economic prospects and potential trade barriers. Despite these challenges, the ongoing growth in new business suggests that private sector output may continue expanding in the near term.

周二，恒生指数飙升196点，涨幅1.0%，收于19746点，在中国央行承诺明年采取支持性政策立场并降低企业和家庭的融资成本后，从早盘的下跌中反弹。潘功胜行长还提到，他打算继续改革中国人民银行的货币政策框架，扩大其政策工具。该指数第三个交易日收盘走高，彭博新闻社的一篇报道提振了积极情绪，该报道称，中国最高领导人计划于下周三开始年度闭门中央经济工作会议，以制定2025年的目标和刺激计划。投资者也忽略了美国新的芯片限制，因为北京方面坚定地表示将采取必要措施保护其利益。所有板块均上涨，金融和房地产领涨。表现突出的包括无锡生物制品（7.4%）、九龙仓控股（5.6%）、昆仑能源（3.0%）、恒生银行（3.4%）和Techtronic Inds。(3.3%).

The Hang Seng surged 196 points or 1.0% to close at 19,746 on Tuesday, rebounding from morning session losses after China's central bank pledged to adopt a supportive policy stance next year and reduce financing costs for companies and households. Governor Pan Gongsheng also mentioned his intentions to continue reforming the PBoC's monetary policy framework and expanding its policy tools. The index closed higher for the third session, with positive sentiment bolstered by a Bloomberg News report that China's top leaders are scheduled to begin the annual closed-door Central Economic Work Conference next Wednesday to set goals and devise stimulus plans for 2025. Investors also looked past new US chip curbs, as Beijing firmly signaled it will take necessary measures to guard its interests. All sectors gained, led by financials and property. Notable performers included Wuxi Biologics (7.4%), Wharf Holdings (5.6%), Kunlun Energy (3.0%), Hang Seng Bank (3.4%), and Techtronic Inds. (3.3%).