香港股市在周五早盘下跌197点，跌幅0.8%，至26282点，在8月中旬以来的最大单日涨幅后回落，因中国10月贸易数据公布前持谨慎态度。在为避免美国关税而进行了数月的前期装载后，出口预计将大幅放缓，而在消费者情绪脆弱的情况下，进口可能会保持疲软。人们的注意力也转向了周末公布的10月份中国CPI和PPI数据，通货紧缩风险仍然令人担忧。在华尔街，由于科技股再次疲软和对美国政府长期停摆的担忧打击了市场情绪，股市隔夜下跌。香港大部分板块下跌，科技和房地产板块领跌。明显落后的包括Pop-Mart Intl（-4.0%）、Sunny Optical Tech（-2.8%）、Horizon Robotics（-2.7%）和快手科技（-2.6%）。尽管如此，受对中国推动科技自给自足的乐观情绪以及特朗普-Xi会议后与美国为期一年的贸易休战的支持，市场仍有望实现约1.4%的每周稳步上涨。

Hong Kong stocks fell 197 points, or 0.8%, to 26,282 in Friday’s morning session, retreating after their biggest one-day gain since mid-August amid caution ahead of China’s October trade data. Exports are expected to slow sharply after months of front-loading to avoid U.S. tariffs, while imports likely stay weak amid fragile consumer sentiment. Attention also turned to October Chinese CPI and PPI data due over the weekend, with deflation risks still a concern. On Wall Street, stocks declined overnight as renewed tech weakness and worries over the prolonged U.S. government shutdown hit sentiment. Most sectors in Hong Kong dropped, led by tech and property. Notable laggards included Pop Mart Intl (-4.0%), Sunny Optical Tech (-2.8%), Horizon Robotics (-2.7%), and Kuaishou Tech (-2.6%). Still, markets remain on track for solid weekly gains of about 1.4%, supported by optimism over China’s tech self-sufficiency push and a one-year trade truce with the U.S. after the Trump-Xi meeting.

周四，恒生指数上涨550点，涨幅2.1%，收于26486点，创下8月中旬以来的最大单日涨幅，也是一周来的最高水平，此前曾有过温和的收盘。所有板块均上涨，上海基准指数收复关键的4000点大关，对中国推动技术自给自足的乐观情绪提振了半导体和人工智能相关股票。在乐观的美国经济数据和强劲的企业盈利引发华尔街反弹后，风险偏好也有所改善。中芯国际（7.3%）、地平线机器人（3.2%）和Trip.com（2.5%）等科技巨头领涨，而国泰航空在宣布回购卡塔尔航空剩余股份的计划后飙升4%，创下三个月新高。本周迄今为止，香港股市在早些时候的回落后稳步上涨，这得益于美中贸易休战期延长一年，暂停了大部分关税。交易员们现在正在等待周五和周末公布的中国10月贸易和通胀数据。

The Hang Seng jumped 550 points, or 2.1%, to close at 26,486 on Thursday, marking its strongest daily gain since mid-August and the highest level in a week after a muted finish previously. All sectors advanced as Shanghai’s benchmark index reclaimed the key 4,000 mark, with optimism over China’s push for tech self-sufficiency lifting semiconductor and AI-related shares. Risk appetite also improved following upbeat U.S. economic data and strong corporate earnings that sparked a Wall Street rebound. Tech heavyweights such as SMIC (7.3%), Horizon Robotics (3.2%), and Trip.com (2.5%) led gains, while Cathay Pacific surged 4% to a three-month high after announcing plans to repurchase Qatar Airways’ remaining stake. So far this week, Hong Kong markets are on track for solid gains following an earlier pullback, supported by a one-year extension of the U.S.–China trade truce suspending most tariffs. Traders now await China’s October trade and inflation data due Friday and over the weekend.

暂无中文版本，请点击原文

Hong Kong equities climbed 309 points, or 1.2%, to 26,245 in early Thursday trading, rebounding from a muted close in the prior session amid broad-based sector gains. Sentiment improved after Wall Street bounced back overnight, as upbeat U.S. private payrolls data helped ease concerns over stretched AI valuations. Mainland shares also rose further after Premier Li Qiang said China’s economy is projected to top CNY 170 trillion within five years. Meanwhile, Beijing confirmed that China will suspend retaliatory tariffs on U.S. imports following last week's meeting of their two leaders, including lifting duties on farm goods excluding soybeans. Upside momentum was limited ahead of key data releases in China, including October trade and CPI/PPI figures. Cathay Pacific Airways jumped 3.5% after announcing plans to repurchase 643.1 million shares held by Qatar Airways. Other notable gainers included Zijin Mining (6.4%), China Hongqiao Group (5.4%), Sinotruk Hong Kong (4.8%), and SMIC (2.5%).

暂无中文版本，请点击原文

Hong Kong equities climbed 309 points, or 1.2%, to 26,245 in early Thursday trading, rebounding from a muted close in the prior session amid broad-based sector gains. Sentiment improved after Wall Street bounced back overnight, as upbeat U.S. private payrolls data helped ease concerns over stretched AI valuations. Mainland shares also rose further after Premier Li Qiang said China’s economy is projected to top CNY 170 trillion within five years. Meanwhile, Beijing confirmed that China will suspend retaliatory tariffs on U.S. imports following last week's meeting of their two leaders, including lifting duties on farm goods excluding soybeans. Upside momentum was limited ahead of key data releases in China, including October trade and CPI/PPI figures. Cathay Pacific Airways jumped 3.5% after announcing plans to repurchase 643.1 million shares held by Qatar Airways. Other notable gainers included Zijin Mining (6.4%), China Hongqiao Group (5.4%), Sinotruk Hong Kong (4.8%), and SMIC (2.5%).