香港外汇储备从上月的4216亿美元降至2025年9月的4192亿美元，这是连续第三个月下降。外汇储备是流通货币的五倍多，约占香港M3的37%。包括未结算外汇合约在内，9月份外汇储备资产总计4189亿美元，而2025年8月为4211亿美元。

Foreign exchange reserves in Hong Kong declined to $419.2 billion in September 2025 from $421.6 billion in the previous month, marking the third consecutive monthly decline. The reserves represented more than five times the currency in circulation, or about 37% of the Hong Kong dollar M3. Including unsettled foreign exchange contracts, foreign currency reserve assets totaled $418.9 billion in September, compared with $421.1 billion in August 2025.

周三，恒生指数下跌128点，跌幅0.5%，收于26829点，这是第三个交易日下跌，因为广泛的行业疲软打击了市场。科技股指数下跌0.6%，追随华尔街在甲骨文因利润率担忧而暴跌后的回落。权重股阿里巴巴下跌1.6%，百度（-3.2%）、美团（-2.3%）和中芯国际（-1.8%）大幅下跌，据报道，美国立法者正在推动更广泛地限制向中国出口芯片制造工具。受对中国经济复苏放缓的担忧以及最近恶劣天气加剧的压力，金融和消费者名称也下跌。相比之下，随着金价继续创下历史新高，黄金矿商反弹，山东黄金矿业上涨7.5%，招金矿业上涨3.7%。世界银行将2025年中国经济增长预测从4.0%上调至4.8%后，市场减少了早盘跌幅，这提振了人们对更多刺激措施以支持北京5%增长目标的希望。与此同时，中国内地市场将于周四重新开放，这可能有助于推动这一势头。

The Hang Seng fell 128 points, or 0.5%, to close at 26,829 on Wednesday, down for the third session as broad-based sector weakness hit markets. The tech gauge slipped 0.6%, tracking Wall Street’s retreat after Oracle tumbled on margin concerns. Heavyweight Alibaba was down 1.6%, while Baidu (-3.2%), Meituan (-2.3%), and SMIC (-1.8%) logged steep losses, as U.S. lawmakers reportedly are pushing for wider curbs on chipmaking tool exports to China. Financials and consumer names also dropped, pressured by worries over China’s slowing recovery, exacerbated by recent adverse weather. In contrast, gold miners rallied as bullion prices continued their record highs, with Shandong Gold Mining jumping 7.5% and Zhaojin Mining up 3.7%. Markets trimmed early losses after the World Bank upgraded its 2025 China growth forecast to 4.8% from 4.0%, boosting hopes for more stimulus to support Beijing’s 5% growth target. Meantime, mainland markets are set to reopen Thursday, potentially aiding momentum.

周三上午，香港股市下跌236点，跌幅0.9%，至26721点，这是周二开盘后交易恢复以来的第三次连续下跌。这一疲软追随了华尔街隔夜的下跌，在甲骨文因利润率担忧而暴跌，拖累科技股下跌后，标准普尔500指数结束了七天的反弹。法国和日本的政治风险以及美国政府持续停摆进一步影响了市场情绪。所有板块均下跌，科技股下跌约2%，其中商汤科技（-3.5%）、中芯国际（-2.9%）、快手科技（-2.8%）和美团（-2.1%）领跌。相比之下，随着金价继续创下历史新高，黄金相关股票上涨，尤其是老蒲黄金（3.0%）和中国黄金集团黄金首饰（1.1%）。尽管如此，周四内地市场重新开放后，市场情绪可能会恢复的乐观情绪缓解了损失。与此同时，据报道，尽管一些地区天气不佳，但中国黄金周前六天的旅游需求仍然保持弹性。

Hong Kong stocks fell 236 points, or 0.9%, to 26,721 on Wednesday morning, marking the third straight decline as trading resumed after Tuesday’s break. The weakness tracked overnight losses on Wall Street, where the S&P 500 snapped a seven-day rally after Oracle tumbled on margin concerns, dragging tech shares lower. Sentiment was further weighed by political risks in France and Japan and the ongoing U.S. government shutdown. All sectors dropped, with tech down about 2%, led by declines in SenseTime (-3.5%), SMIC (-2.9%), Kuaishou Tech (-2.8%), and Meituan (-2.1%). In contrast, gold-related stocks gained as bullion prices continued to hit records, notably Laopu Gold (3.0%) and China National Gold Group Gold Jewellery (1.1%). Still, losses were cushioned by optimism that sentiment may recover once mainland markets reopen Thursday. Meanwhile, China’s travel demand during the first six days of the Golden Week holiday reportedly remained resilient despite unfavorable weather in some areas.

恒生指数周一连续第二个交易日下跌，下跌183点，跌幅0.7%，收于26958点。由于香港周二本地股市休市前的谨慎情绪，交易低迷，而内地股市仍因黄金周休市。在法国总理突然辞职的报道传出后，欧洲的政治风险也影响了市场情绪。跌幅是广泛的，科技和消费行业领跌，各自下跌约1%。值得注意的失败者包括Galaxy Ent。（-3.1%），Techtronic Inds。（-2.8%）和Trip.com（-2.3%）。电动汽车股也大幅下跌，李汽车（-3.4%）、吉利汽车（-2.1%）和XPeng（-1.8%）均下跌。香港私营部门活动进一步增长，尽管增长速度有所放缓，但抑制了下滑。金价创下历史新高，黄金矿商逆势强劲反弹。山东黄金矿业（5.2%）、紫金矿业（7.3%）和招金矿业（3.2%）均录得强劲涨幅。

The Hang Seng fell for the second straight session on Monday, dropping 183 points or 0.7% to finish at 26,958. Trading was subdued due to a cautious mood ahead of a local break in Hong Kong on Tuesday, while mainland markets were still closed for the Golden Week. Sentiment was also weighed by political risks in Europe, following reports of the French Prime Minister's abrupt resignation. The decline was broad-based, led by the tech and consumer sectors, which each dipped around 1%. Notable losers included Galaxy Ent. (-3.1%), Techtronic Inds. (-2.8%), and Trip.com (-2.3%). EV stocks also retreated sharply, with Li Auto (-3.4%), Geely Auto (-2.1%), and XPeng (-1.8%) all declining. Capping the downside was a further growth in Hong Kong's private sector activity, albeit at a moderating pace. Bucking the negative trend, gold miners rallied strongly as bullion prices hit a record high. Shandong Gold Mining (5.2%), Zijin Gold Intl. (7.3%), and Zhaojin Mining (3.2%) all posted strong gains.