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港股衍生品一周市场观察2026.6.1

香港智远权证网2026年6月1日 00:00
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1、一周市场概况

5月30日当周,恒指小幅下跌,周累计跌1.65%,收25182.39点。蓝筹股方面,全周个股涨跌分化明显,联想集团领涨52.38%,泡泡玛特、舜宇光学科技涨幅分别达15.22%和14.40%,比亚迪电子、宁德时代涨幅超8%。网易-S、华润电力、中国神华等个股录得小幅上涨。此次下跌主要受科技股回调及获利盘了结影响,尽管联想集团因AI服务器需求爆发预期大幅领涨,但整体市场情绪偏谨慎。南向资金全周持续净流入,5月26日至28日沪市港股通净买入分别为24.79亿、13.97亿、65.46亿港元,5月29日达36.47亿港元,显示内地资金逢低布局意愿较强。值得注意的是,中芯国际、中国移动、中国海洋石油等硬科技与高股息标的仍获南向资金逆势加仓,分别净买入68.32亿、23.10亿和17.55亿港元,反映资金在板块间快速轮动,集中流向AI基建与防御性资产。

外围市场方面,美国三大指数齐涨,道指上周累计涨0.90%,纳指涨2.39%,标普500涨1.43%,均创收市新高。消息面上,美联储维持联邦基金目标利率3.75%不变,但市场对未来降息预期有所延后。美国4月PCE通胀同比升3.8%,符合市场预期,但通胀粘性仍存,10年期美债收益率周内在4.45%-4.50%区间震荡。美元指数全周在98.93-99.23区间波动,周五收于98.93,较周初略有回落。科技股表现强劲,美光科技股价大涨19.31%,创2011年11月以来最大单日涨幅,总市值首次突破1万亿美元,人工智能需求持续爆发推动半导体产业链走强。

A股三大股指涨跌不一,上证指数本周累计跌幅2.02%,失守4100点。国内政策层面,国务院推进全国统一大市场建设,国家发改委印发《"法治护航民营经济"行动方案》并召开民营企业座谈会。但4月金融数据、消费与投资等实体经济数据整体偏弱,内需疲软问题引发市场对盈利修复持续性的担忧。行业层面呈现极端分化,电子板块以+6.56%的周涨幅一枝独秀,光模块、通信模块、半导体等科技细分领域表现强势。

2、恒指牛熊证资金流

过去5日,恒指牛证合计约1.69亿港元资金净流入;恒指熊证则合计约1933万港元资金净流出套现。街货分布方面,恒指牛证街货占比约56.2%,分布在收回价24500点至24800点之间,累计相当约3066张期指合约;恒指熊证街货在收回价25300点至25900点之间,累计相当约2356张期指合约。

3、轮证一周资金流

好仓(认购证及牛证)方面,过去5日,腾讯好仓录得约6709万港元资金净流入,为最大资金流入标的,阿里巴巴、美团和小米相关好仓也分别约2968万、2805万以及2448万港元资金净流入部署;宁德时代、中芯国际和泡泡玛特等相关好仓则分别录得约1984万、1728万及526万港元资金净流出套现。

淡仓(认沽证及熊证)方面,近5日合计,腾讯、中芯国际及华虹半导体等相关淡仓分别约1297万、1003万及877万港元资金净流入部署;阿里巴巴、泡泡玛特及百度等相关淡仓则分别约393万、267万以及238万港元资金净流出。

 

备注:本文所注图表数据等主要参考法兴、瑞通、瑞信、麦格理等香港窝轮商网站。本文不作为投资建议,所有数据仅供参考。本文著作权乃归作者所有,任何商业转载需获作者授权,非商业转载请注明出处。

免责声明:本网站提供的信息仅供教育和参考之用,不应视为财务或投资建议。

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