香港股市周四早盘上涨341点，涨幅1.4%，至23824点，在广泛上涨的情况下连续第二天走强。华尔街银行对中国股市转为看涨后，市场情绪增强。摩根士丹利（Morgan Stanley）今年第二次上调了2025年内地股市的年终目标，而高盛（Goldman Sachs）则预测，由于盈利上调，股市将进一步上涨。继2024年下降3.3%之后，2025年前两个月中国工业利润同比小幅下降0.3%也提供了支撑，并强化了北京刺激措施正在生效的迹象。然而，由于投资者权衡美国总统特朗普对汽车进口征收25%的关税，隔夜华尔街的微弱领先削弱了涨幅。在下周中国3月PMI数据公布之前，人们也普遍持谨慎态度。早盘上涨股包括老普Old（8.3%）、中银香港（7.0%）、半导体制造（5.0%）、中国蒙牛乳业（3.9%）和汉索制药（3.6%）。

Hong Kong equities climbed 341 points or 1.4% to 23,824 in Thursday morning trade, extending strength for a second day amid broad-based gains. Sentiment strengthened after Wall Street banks turned bullish on Chinese stocks. Morgan Stanley raised its 2025 year-end targets for mainland shares for the second time this year, while Goldman Sachs projected further upside driven by positive earnings revisions. A slight decline of 0.3% yoy in China’s industrial profits for the first two months of 2025 also provided support, following a 3.3% drop in 2024 and reinforcing signs that Beijing’s stimulus measures are taking effect. However, gains were tempered by a weak lead from Wall Street overnight, as investors weighed U.S. President Trump’s 25% tariffs on auto imports. Caution also prevailed ahead of China’s March PMI data next week. Among early gainers were Laopu Old (8.3%), BOC Hong Kong (7.0%), Semiconductor Manufacturing (5.0%), China Mengniu Dairy (3.9%), and Hansoh Pharmaceutical (3.6%).

周三，恒生指数上涨139点，涨幅0.6%，收于23483点，从前一交易日的近两周低点部分反弹。在特朗普政府暗示即将到来的美国关税可能比最初担心的更有针对性后，市场情绪有所改善。交易员们还对摩根士丹利上调2025年中国股市年终目标的消息表示欢迎，而高盛策略师预测，积极的盈利修订将进一步推动上涨。地缘政治的发展也提供了支持，美国宣布俄罗斯和乌克兰在黑海停火。然而，在本周晚些时候美国关键个人消费支出通胀数据公布前的谨慎态度下，美国期货的小幅下跌限制了涨幅。大多数行业上涨，科技、消费者和房地产领涨。WH集团因利润增长和特别股息上涨4.7%，而阿里巴巴在与宝马公司合作开发中国汽车人工智能后上涨1.4%。其他上涨股包括神州国际（12.4%）、海底捞国际（6.1%）和股份有限公司（4.0%）。

The Hang Seng climbed 139 points or 0.6% to close at 23,483 on Wednesday, partially rebounding from a near two-week low in the prior session. Sentiment improved after the Trump administration suggested that upcoming US tariffs may be more targeted than initially feared. Traders also welcomed news that Morgan Stanley raised its 2025 year-end targets for Chinese stocks, while Goldman Sachs strategists predicted further upside driven by positive earnings revisions. Geopolitical developments also provided support, with the US announcing a Russia- Ukraine ceasefire in the Black Sea. However, a slight drop in US futures limited gains amid caution ahead of key US PCE inflation data later this week. Most sectors rose, led by tech, consumers, and property. WH Group jumped 4.7% on profit growth and a special dividend, while Alibaba rose 1.4% after partnering with BMW AG on AI for cars in China. Other notable gainers included Shenzhou Intl. (12.4%), Haidilao Intl. (6.1%), and Akeso Inc. (4.0%).

香港股市周三早盘上涨65点，涨幅0.3%，至23404点，试图从前一天触及的近两周低点反弹。科技、消费者和房地产领涨，投资者对贸易数据的积极回应显示，该市的进出口以13个月来的最快速度增长。与此同时，随着特朗普总统4月2日的关税最后期限临近，华尔街隔夜小幅上涨，美国期货小幅走高。在中国，摩根士丹利在一个多月内第二次上调了对内地股市的预期，理由是盈利前景改善支撑了估值。中国2月工业利润将于周四公布，在此之前的谨慎态度限制了进一步的上涨。针织品制造商神州国际在强劲的利润增长下飙升约8%，达到12个月来的最高点。大盘股中的其他推动者包括海底捞国际控股有限公司。（5.5%）、浙江利普电机（5.1%）、万豪集团有限公司（4.7%）和金蝶国际软件（4.3%）。

Hong Kong stocks rose 65 points or 0.3% to 23,404 in early trade on Wednesday, attempting to rebound from a near two-week low hit the previous day. Gains were led by tech, consumers, and property, with investors responding positively to trade data showing that exports and imports in the city rose at their fastest pace in 13 months. Meanwhile, U.S. futures edged higher after Wall Street logged modest gains overnight as President Trump's April 2 tariff deadline looms. In China, Morgan Stanley raised its outlook on mainland stocks for the second time in just over a month, citing improved earnings prospects supporting valuations. Further gains were capped by caution ahead of February industrial profits in China, set to be released Thursday. Knitwear manufacturer Shenzhou Intl. surged around 8% to a 12-month high on strong profit growth. Other movers among large caps included Haidilao Intl. Hlds. (5.5%), Zhejiang Leapmotor (5.1%), WH Group Ltd. (4.7%), and Kingdee Intl. Software (4.3%).

继上月增长0.5%后，2025年2月对香港的进口额同比增长11.8%，达到3642亿美元。这标志着自2024年1月以来的最高进口增长，主要原因是电动机械、仪器和电器以及电气零件（1月份为16.9%对4.4%）、办公机器和自动数据处理机器（76.3%对52.7%）以及发电机械和设备（53.9%对40.1%）的采购量大幅增加。此外，专业、科学和控制仪器和设备（26.8%对-7.6%）、电信设备（3.1%对-16.0%）以及石油、石油产品和相关材料（2.7%对-15.4%）的进口大幅反弹。在贸易伙伴中，法国（+77.9%）、英国（+77.6%）、越南（+52.4%）、台湾（+42.6%）和马来西亚（+41.7%）的进口增幅最大。

Imports to Hong Kong surged by 11.8% year-on-year to $364.2 billion in February 2025, following a 0.5% increase in the previous month. This marked the highest import growth since January 2024, driven by significant increases in purchases of electrical machinery, apparatus, and appliances, and electrical parts (16.9% vs 4.4% in January), office machines and automatic data processing machines (76.3% vs 52.7%), and power-generating machinery and equipment (53.9% vs 40.1%). Additionally, imports rebounded significantly for professional, scientific, and controlling instruments and apparatus (26.8% vs. -7.6%), telecommunications equipment (3.1% vs. -16.0%), and petroleum, petroleum products, and related materials (2.7% vs. -15.4%). Among trading partners, imports saw the highest increases from France (+77.9%), the United Kingdom (+77.6%), Vietnam (+52.4%), Taiwan (+42.6%), and Malaysia (+41.7%).