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港股衍生品一周市场观察2026.6.22

香港智远权证网2026年6月22日 00:00
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1、一周市场概况

恒指全周下跌3.21%收于23924.81点,恒生科技指数跌2.14%至4604.35点,先扬后抑。周初受美伊达成阶段性协议、霍尔木兹海峡重新开放预期推动,风险偏好一度修复,舜宇光学科技以12.02%的周涨幅领跑,中芯国际、联想集团分别上涨6.77%和6.45%;但6月18日美联储议息会议释放鹰派信号,点阵图显示9位官员预计年内至少加息一次,美元走强压制港股。地产板块深度回调,龙湖集团暴跌19.77%,反映政策底预期未兑现。叠加7月解禁高峰临近(预计约2000亿港元),市场提前定价流动性压力。

外围市场方面,美股三大指数小幅收涨但周内剧烈波动,纳指周一涨3.07%后连续回调,周三跌1.34%、周四反弹1.91%。核心扰动来自6月18日FOMC会议:虽维持利率不变,但点阵图上修年末利率中位数至3.8%,9位官员预计年内加息,且删除前瞻指引措辞,强化政策转向预期。5月CPI同比升至4.2%但核心CPI环比仅涨0.2%,通胀主要由能源推动,基础通胀暂未恶化。

三大指数全线收涨,深强沪弱格局显著:上证指数累计涨1.46%至4090.48点,深证成指涨7.13%,创业板指涨5.30%。美伊协议落地后全球风险偏好修复,叠加海外科技股回升形成映射,资金加速回流A股科技成长方向。电子产业链全线爆发,玻纤制造、被动元件、印制电路板领涨;传统周期板块承压。

 

2、恒指牛熊证资金流

过去5日,恒指牛证合计约2.01亿港元资金净流入;恒指熊证则合计约7715万港元资金净流出套现。街货分布方面,恒指牛证街货占比约59.9%,分布在收回价23000点至25000点之间,累计相当约2604张期指合约;恒指熊证街货在收回价24600点至25000点之间,累计相当约707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,阿里巴巴好仓录得约3443万港元资金净流入,为最大资金流入标的,腾讯、长飞光纤光缆和中国建材相关好仓也分别录得约2713万、1737万以及1696万港元资金净流入部署;汇丰控股、建滔集团、智谱等相关好仓则分别录得约2218万、1655万及1457万港元资金净流出套现。

 

淡仓(认沽证及熊证)方面,近5日合计,华虹宏力、建滔基层板和汇丰控股等相关淡仓分别约892万、505万及500万港元资金净流入部署;美团、腾讯和紫金矿业等相关淡仓则分别约806万、654万以及386万港元资金净流出。

 

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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