<p>大華銀行凱基證券在一份研究報告中表示，4 月份，恒生指數和 MSCI 中國指數分別環比上漲 4% 和 3.5%。地緣政治緊張局勢出現緩解跡象，而政治局會議則增強了對更強宏觀政策支持的預期，特別是針對國內消費和穩定房地產市場。</p>
<p>投資者情緒略有改善。該券商對 5 月份的市場狀況持謹慎樂觀態度，認為下行風險可控。當前 MSCI 中國指數的預測市盈率為 11.2 倍，接近其歷史平均水平。敏實集團 (00425.HK) -0.700 (-1.997%) 空頭頭寸 210 萬美元；比例 10.242%，雙環傳動 (002472.SZ) +0.970 (+2.533%) 和攜程集團-S (09961.HK) -6.400 (-1.535%) 空頭頭寸 5063 萬美元；比例 7.536% 已被加入 “買入” 名單，而安踏體育 (02020.HK) -3.200 (-3.931%) 空頭頭寸 5554 萬美元；比例 17.070%，中國免税品 (601888.SH) -0.330 (-0.500%) 和李寧 (02331.HK) -0.840 (-4.130%) 空頭頭寸 4548 萬美元；比例 63.646% 則執行了止損操作。</p>
<p>此外，該券商維持對阿里巴巴-W (09988.HK) -0.500 (-0.380%) 空頭頭寸 5121.8 萬美元；比例 26.186%，博恩藥業 (06160.HK) +0.100 (+0.057%) 空頭頭寸 1898 萬美元；比例 22.342%，富士康工業互聯網 (601138.SH) -3.380 (-5.101%)，富途控股 (FUTU.US)，快手-W (01024.HK) -0.280 (-0.630%) 空頭頭寸 1158.1 萬美元；比例 32.185%，納爾科技 (002371.SZ) +26.280 (+5.146%)，騰訊 (00700.HK) -0.800 (-0.169%) 空頭頭寸 3193.5 萬美元；比例 9.472% 和紫金礦業 (02899.HK) -0.300 (-0.838%) 空頭頭寸 1049.9 萬美元；比例 18.223% 的買入評級。</p>
<p>關鍵推薦名單：</p>
<p>股票評級 目標價</p>
<p>阿里巴巴-W (09988.HK) -0.500 (-0.380%) 空頭頭寸 5121.8 萬美元；比例 26.186% 買入 HKD192</p>
<p>博恩藥業 (06160.HK) +0.100 (+0.057%) 空頭頭寸 1898 萬美元；比例 22.342% 買入 HKD252</p>
<p>富士康工業互聯網 (601138.SH) -3.380 (-5.101%) 買入 RMB89.5</p>
<p>富途控股 (FUTU.US) 買入 USD260</p>
<p>快手-W (01024.HK) -0.280 (-0.630%) 空頭頭寸 1158.1 萬美元；比例 32.185% 買入 HKD82</p>
<p>敏實集團 (00425.HK) -0.700 (-1.997%) 空頭頭寸 210 萬美元；比例 10.242% 買入 HKD56</p>
<p>納爾科技 (002371.SZ) +26.280 (+5.146%) 買入 RMB608</p>
<p>雙環傳動 (002472.SZ) +0.970 (+2.533%) 買入 RMB52</p>
<p>騰訊 (00700.HK) -0.800 (-0.169%) 空頭頭寸 3193.5 萬美元；比例 9.472% 買入 HKD728</p>
<p>雙環傳動 (002472.SZ) +0.970 (+2.533%) 買入 RMB624</p>
<p>紫金礦業 (02899.HK) -0.300 (-0.838%) 空頭頭寸 1049.9 萬美元；比例 18.223% 買入 HKD50.6</p>
<p>(ss/u)(香港股票報價延遲至少 15 分鐘。空頭數據截至 2026-05-05 12:25。)(A 股報價延遲至少 15 分鐘。)(實時流式美國股票報價；除所有場外報價外，均延遲至少 15 分鐘。)</p>
<p>本文由 AI 自動翻譯，中文版本應視為權威版本。AASTOCKS.com Limited 不保證其準確性或完整性，並對因使用此翻譯而導致的任何損害或損失不承擔任何責任。</p>

攜程集團-S

攜程網

敏實集團

<p>UOB Kay Hian 將敏實集團和攜程集團-S 納入其買入名單，理由是投資者情緒改善以及市場下行風險可控。MSCI 中國指數的預測市盈率為 11.2 倍，接近其歷史平均水平。報告強調了地緣政治的持續緩和以及對國內消費和房地產市場的宏觀政策支持。其他維持買入評級的股票包括阿里巴巴-W、BEONE MEDICINES 和騰訊，而安踏體育和李寧則採取了止損措施</p>

<p>UOB Kay Hian said in a research report that in April, the HSI and the MSCI China Index rose 4% and 3.5% MoM, respectively. Geopolitical tensions showed signs of easing, while the Politburo meeting reinforced expectations of stronger macro policy support, particularly targeting domestic consumption and stabilizing the property market.</p>
<div class="lb-trans"><p>大華銀行凱基證券在一份研究報告中表示，4 月份，恒生指數和 MSCI 中國指數分別環比上漲 4% 和 3.5%。地緣政治緊張局勢出現緩解跡象，而政治局會議則增強了對更強宏觀政策支持的預期，特別是針對國內消費和穩定房地產市場。</p>
</div><p>Investor sentiment has improved slightly. The broker remains cautiously optimistic on market conditions in May, with downside risks seen as manageable. The MSCI China Index is currently trading at a forecast price-to-earnings ratio of 11.2x, close to its historical average. MINTH GROUP (00425.HK) -0.700 (-1.997%)  Short selling $2.10M; Ratio 10.242%  , SHUANGHUAN DRIVELINE (002472.SZ) +0.970 (+2.533%)  and TRIP.COM-S (09961.HK) -6.400 (-1.535%)  Short selling $50.63M; Ratio 7.536%  have been added to the &#34;Buy&#34; list, while stop-loss actions were executed on ANTA SPORTS (02020.HK) -3.200 (-3.931%)  Short selling $55.54M; Ratio 17.070%  , CHINA DUTY FREE (601888.SH) -0.330 (-0.500%)  and LI NING (02331.HK) -0.840 (-4.130%)  Short selling $45.48M; Ratio 63.646%  .</p>
<div class="lb-trans"><p>投資者情緒略有改善。該券商對 5 月份的市場狀況持謹慎樂觀態度，認為下行風險可控。當前 MSCI 中國指數的預測市盈率為 11.2 倍，接近其歷史平均水平。敏實集團 (00425.HK) -0.700 (-1.997%) 空頭頭寸 210 萬美元；比例 10.242%，雙環傳動 (002472.SZ) +0.970 (+2.533%) 和攜程集團-S (09961.HK) -6.400 (-1.535%) 空頭頭寸 5063 萬美元；比例 7.536% 已被加入 “買入” 名單，而安踏體育 (02020.HK) -3.200 (-3.931%) 空頭頭寸 5554 萬美元；比例 17.070%，中國免税品 (601888.SH) -0.330 (-0.500%) 和李寧 (02331.HK) -0.840 (-4.130%) 空頭頭寸 4548 萬美元；比例 63.646% 則執行了止損操作。</p>
</div><p>In addition, the broker maintained Buy ratings on BABA-W (09988.HK) -0.500 (-0.380%)  Short selling $512.18M; Ratio 26.186%  , BEONE MEDICINES (06160.HK) +0.100 (+0.057%)  Short selling $18.98M; Ratio 22.342%  , FOXCONN INDUSTRIAL INTERNET (601138.SH) -3.380 (-5.101%)  , Futu Holdings Limited (FUTU.US) , KUAISHOU-W (01024.HK) -0.280 (-0.630%)  Short selling $115.81M; Ratio 32.185%  , NAURA (002371.SZ) +26.280 (+5.146%)  , TENCENT (00700.HK) -0.800 (-0.169%)  Short selling $319.35M; Ratio 9.472%  and ZIJIN MINING (02899.HK) -0.300 (-0.838%)  Short selling $104.99M; Ratio 18.223%  .</p>
<div class="lb-trans"><p>此外，該券商維持對阿里巴巴-W (09988.HK) -0.500 (-0.380%) 空頭頭寸 5121.8 萬美元；比例 26.186%，博恩藥業 (06160.HK) +0.100 (+0.057%) 空頭頭寸 1898 萬美元；比例 22.342%，富士康工業互聯網 (601138.SH) -3.380 (-5.101%)，富途控股 (FUTU.US)，快手-W (01024.HK) -0.280 (-0.630%) 空頭頭寸 1158.1 萬美元；比例 32.185%，納爾科技 (002371.SZ) +26.280 (+5.146%)，騰訊 (00700.HK) -0.800 (-0.169%) 空頭頭寸 3193.5 萬美元；比例 9.472% 和紫金礦業 (02899.HK) -0.300 (-0.838%) 空頭頭寸 1049.9 萬美元；比例 18.223% 的買入評級。</p>
</div><p>Key Recommendation List:</p>
<div class="lb-trans"><p>關鍵推薦名單：</p>
</div><p>Stock Rating TP</p>
<div class="lb-trans"><p>股票評級 目標價</p>
</div><p>BABA-W (09988.HK) -0.500 (-0.380%)  Short selling $512.18M; Ratio 26.186%  Buy HKD192</p>
<div class="lb-trans"><p>阿里巴巴-W (09988.HK) -0.500 (-0.380%) 空頭頭寸 5121.8 萬美元；比例 26.186% 買入 HKD192</p>
</div><p>BEONE MEDICINES (06160.HK) +0.100 (+0.057%)  Short selling $18.98M; Ratio 22.342%  Buy HKD252</p>
<div class="lb-trans"><p>博恩藥業 (06160.HK) +0.100 (+0.057%) 空頭頭寸 1898 萬美元；比例 22.342% 買入 HKD252</p>
</div><p>FOXCONN INDUSTRIAL INTERNET (601138.SH) -3.380 (-5.101%)  Buy RMB89.5</p>
<div class="lb-trans"><p>富士康工業互聯網 (601138.SH) -3.380 (-5.101%) 買入 RMB89.5</p>
</div><p>Futu Holdings Limited (FUTU.US) Buy USD260</p>
<div class="lb-trans"><p>富途控股 (FUTU.US) 買入 USD260</p>
</div><p>KUAISHOU-W (01024.HK) -0.280 (-0.630%)  Short selling $115.81M; Ratio 32.185%  Buy HKD82</p>
<div class="lb-trans"><p>快手-W (01024.HK) -0.280 (-0.630%) 空頭頭寸 1158.1 萬美元；比例 32.185% 買入 HKD82</p>
</div><p>MINTH GROUP (00425.HK) -0.700 (-1.997%)  Short selling $2.10M; Ratio 10.242%  Buy HKD56</p>
<div class="lb-trans"><p>敏實集團 (00425.HK) -0.700 (-1.997%) 空頭頭寸 210 萬美元；比例 10.242% 買入 HKD56</p>
</div><p>NAURA (002371.SZ) +26.280 (+5.146%)  Buy RMB608</p>
<div class="lb-trans"><p>納爾科技 (002371.SZ) +26.280 (+5.146%) 買入 RMB608</p>
</div><p>SHUANGHUAN DRIVELINE (002472.SZ) +0.970 (+2.533%)  Buy RMB52</p>
<div class="lb-trans"><p>雙環傳動 (002472.SZ) +0.970 (+2.533%) 買入 RMB52</p>
</div><p>TENCENT (00700.HK) -0.800 (-0.169%)  Short selling $319.35M; Ratio 9.472%  Buy HKD728</p>
<div class="lb-trans"><p>騰訊 (00700.HK) -0.800 (-0.169%) 空頭頭寸 3193.5 萬美元；比例 9.472% 買入 HKD728</p>
</div><p>SHUANGHUAN DRIVELINE (002472.SZ) +0.970 (+2.533%)  Buy RMB624</p>
<div class="lb-trans"><p>雙環傳動 (002472.SZ) +0.970 (+2.533%) 買入 RMB624</p>
</div><p>ZIJIN MINING (02899.HK) -0.300 (-0.838%)  Short selling $104.99M; Ratio 18.223%  Buy HKD50.6</p>
<div class="lb-trans"><p>紫金礦業 (02899.HK) -0.300 (-0.838%) 空頭頭寸 1049.9 萬美元；比例 18.223% 買入 HKD50.6</p>
</div><p>(ss/u)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-05 12:25.) (A Shares quote is delayed for at least 15 mins.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)</p>
<div class="lb-trans"><p>(ss/u)(香港股票報價延遲至少 15 分鐘。空頭數據截至 2026-05-05 12:25。)(A 股報價延遲至少 15 分鐘。)(實時流式美國股票報價；除所有場外報價外，均延遲至少 15 分鐘。)</p>
</div><p>This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.</p>
<div class="lb-trans"><p>本文由 AI 自動翻譯，中文版本應視為權威版本。AASTOCKS.com Limited 不保證其準確性或完整性，並對因使用此翻譯而導致的任何損害或損失不承擔任何責任。</p>
</div>

大華繼顯將 MINTH GROUP 和 TRIP.COM-S 加入買入名單