{"id":74359,"date":"2025-08-18T01:21:34","date_gmt":"2025-08-17T17:21:34","guid":{"rendered":"https:\/\/www.kgieworld.sg\/research\/?p=74359"},"modified":"2025-08-18T01:21:35","modified_gmt":"2025-08-17T17:21:35","slug":"kgi-daily-trading-ideas-18-aug-2025-zh","status":"publish","type":"post","link":"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-18-aug-2025-zh\/","title":{"rendered":"\u4eca\u65e5\u7cbe\u9009\uff1a\u80a1\u7968 | 2025\u5e748\u670818\u65e5:"},"content":{"rendered":"\n<p class=\"has-cyan-bluish-gray-background-color has-background wp-block-paragraph\"><a href=\"#sg\">\u65b0\u52a0\u5761\u80a1\u7968\u63a8\u8350<\/a> |<a href=\"#hk\"> \u9999\u6e2f\u80a1\u7968\u63a8\u8350<\/a> | <a href=\"#us\">\u7f8e\u80a1\u63a8\u8350<\/a> | <a href=\"http:\/\/sp\">\u884c\u4e1a\u677f\u5757\u8868\u73b0<\/a> | <a href=\"#td\"> \u4ea4\u6613\u9f99\u864e\u699c<\/a><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\" id=\"sp\"><img fetchpriority=\"high\" decoding=\"async\" width=\"940\" height=\"200\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/image-28.png\" alt=\"\" class=\"wp-image-69977\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/image-28.png 940w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/image-28-300x64.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/image-28-768x163.png 768w\" sizes=\"(max-width: 940px) 100vw, 940px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><a id=\"post-74359-_tiry8p5xvcqk\"><\/a>\u7f8e\u56fd<\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" width=\"1920\" height=\"820\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-screenshot-of-a-computer-ai-generated-content-m-32.png\" alt=\"A screenshot of a computer\n\nAI-generated content may be incorrect.\" class=\"wp-image-74392\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-screenshot-of-a-computer-ai-generated-content-m-32.png 1920w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-screenshot-of-a-computer-ai-generated-content-m-32-300x128.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-screenshot-of-a-computer-ai-generated-content-m-32-1024x437.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-screenshot-of-a-computer-ai-generated-content-m-32-768x328.png 768w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-screenshot-of-a-computer-ai-generated-content-m-32-1536x656.png 1536w\" sizes=\"(max-width: 1920px) 100vw, 1920px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" width=\"1071\" height=\"274\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-screen-shot-of-a-screen-ai-generated-content-ma-2.png\" alt=\"A screen shot of a screen\n\nAI-generated content may be incorrect.\" class=\"wp-image-74393\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-screen-shot-of-a-screen-ai-generated-content-ma-2.png 1071w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-screen-shot-of-a-screen-ai-generated-content-ma-2-300x77.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-screen-shot-of-a-screen-ai-generated-content-ma-2-1024x262.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-screen-shot-of-a-screen-ai-generated-content-ma-2-768x196.png 768w\" sizes=\"(max-width: 1071px) 100vw, 1071px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"915\" height=\"282\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-screen-shot-of-a-chart-ai-generated-content-may-12.png\" alt=\"A screen shot of a chart\n\nAI-generated content may be incorrect.\" class=\"wp-image-74394\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-screen-shot-of-a-chart-ai-generated-content-may-12.png 915w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-screen-shot-of-a-chart-ai-generated-content-may-12-300x92.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-screen-shot-of-a-chart-ai-generated-content-may-12-768x237.png 768w\" sizes=\"(max-width: 915px) 100vw, 915px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"637\" height=\"135\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74359-4.png\" alt=\"\" class=\"wp-image-74395\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74359-4.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74359-4-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><a id=\"post-74359-_qqv3rtx8nazp\"><\/a><a id=\"post-74359-_ylayyh7qqd99\"><\/a>\u9999\u6e2f<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1919\" height=\"872\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-screenshot-of-a-computer-ai-generated-content-m-33.png\" alt=\"A screenshot of a computer\n\nAI-generated content may be incorrect.\" class=\"wp-image-74396\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-screenshot-of-a-computer-ai-generated-content-m-33.png 1919w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-screenshot-of-a-computer-ai-generated-content-m-33-300x136.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-screenshot-of-a-computer-ai-generated-content-m-33-1024x465.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-screenshot-of-a-computer-ai-generated-content-m-33-768x349.png 768w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-screenshot-of-a-computer-ai-generated-content-m-33-1536x698.png 1536w\" sizes=\"(max-width: 1919px) 100vw, 1919px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"has-text-align-right wp-block-paragraph\"><a href=\"#top\" title=\"\">^ Back To Top<\/a><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"637\" height=\"135\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74359-6.png\" alt=\"\" class=\"wp-image-74397\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74359-6.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74359-6-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"sg\"><figure><img loading=\"lazy\" decoding=\"async\" width=\"602\" height=\"128\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74359-7.png\" class=\"wp-image-74398\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74359-7.png 602w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74359-7-300x64.png 300w\" sizes=\"(max-width: 602px) 100vw, 602px\" \/><\/figure><\/h2>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>\u4ec1\u6052\u7f6e\u5730 (YLLG SP)\uff1a\u8fdb\u4e00\u6b65\u5e72\u9884\u4ee5\u590d\u5174\u623f\u5730\u4ea7\u5e02\u573a<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.60\uff0c\u76ee\u6807\u4ef7\uff1a0.66\uff0c\u6b62\u635f\u4ef7\uff1a0.57<\/strong><br>  <\/li>\n\n\n\n<li>\u4ec1\u6052\u7f6e\u5730\u96c6\u56e2\u6709\u9650\u516c\u53f8\u662f\u4e00\u5bb6\u623f\u5730\u4ea7\u5f00\u53d1\u516c\u53f8\u3002\u516c\u53f8\u5728\u4e2d\u534e\u4eba\u6c11\u5171\u548c\u56fd\u5f00\u53d1\u9ad8\u7aef\u4f4f\u5b85\u7269\u4e1a\u9879\u76ee\u3002<br>  <\/li>\n\n\n\n<li><strong>\u76c8\u5229\u80fd\u529b\u7684\u9006\u8f6c\uff0c\u5f97\u76ca\u4e8e\u9ad8\u5229\u6da6\u4ea4\u4ed8\u3002<\/strong>\u4ec1\u6052\u7f6e\u5730\u57282025\u5e74\u4e0a\u534a\u5e74\u5b9e\u73b0\u51c0\u5229\u6da63.792\u4ebf\u4eba\u6c11\u5e01\uff0c\u626d\u8f6c\u4e86\u53bb\u5e74\u540c\u671f\u76844.86\u4ebf\u4eba\u6c11\u5e01\u4e8f\u635f\u3002\u5229\u6da6\u7684\u6539\u5584\u5f97\u76ca\u4e8e\u6218\u7565\u8f6c\u5411\u4ea4\u4ed8\u9ad8\u5229\u6da6\u7684\u5f00\u53d1\u9879\u76ee\uff0c\u4ee5\u53ca\u51cf\u5c11\u5bf9\u5df2\u5b8c\u5de5\u548c\u5728\u5efa\u7269\u4e1a\u7684\u51cf\u503c\u3002\u5c3d\u7ba1\u7531\u4e8e\u4ea4\u4ed8\u7684\u5efa\u7b51\u9762\u79ef\u51cf\u5c11\uff0c\u6536\u5165\u540c\u6bd4\u4e0b\u964d53.5%\uff0c\u964d\u81f393\u4ebf\u4eba\u6c11\u5e01\uff0c\u4f46\u6bcf\u80a1\u6536\u76ca\u4ece\u4e8f\u635f\u76840.2516\u65b0\u52a0\u5761\u5143\u53cd\u5f39\u81f30.1963\u65b0\u52a0\u5761\u5143\u3002\u8fd9\u4e00\u76c8\u5229\u590d\u82cf\uff0c\u5c3d\u7ba1\u8425\u6536\u8868\u73b0\u8f83\u5f31\uff0c\u8868\u660e\u6210\u672c\u63a7\u5236\u548c\u6295\u8d44\u7ec4\u5408\u4f18\u5316\u6709\u6240\u6539\u5584\u3002<br>  <\/li>\n\n\n\n<li><strong>\u653f\u7b56\u652f\u6301\u4e0e\u5e02\u573a\u7a33\u5b9a\u3002<\/strong>\u4e2d\u56fd\u623f\u5730\u4ea7\u884c\u4e1a\u4ecd\u5904\u4e8e\u957f\u671f\u4f4e\u8ff7\u4e2d\uff0c\u4f46\u8fd1\u671f\u653f\u5e9c\u7684\u884c\u52a8\u53ef\u80fd\u52a0\u901f\u5e02\u573a\u7a33\u5b9a\u3002\u76d1\u7ba1\u673a\u6784\u6b63\u51c6\u5907\u52a8\u5458\u4e2d\u592e\u56fd\u6709\u4f01\u4e1a\u548c\u4e0d\u826f\u503a\u52a1\u7ba1\u7406\u516c\u53f8\uff0c\u5305\u62ec\u4e2d\u56fd\u4fe1\u8fbe\u8d44\u4ea7\u7ba1\u7406\uff0c\u8d2d\u4e70\u672a\u552e\u51fa\u7684\u4f4f\u623f\u5e93\u5b58\uff0c\u5229\u75283000\u4ebf\u4eba\u6c11\u5e01\u7684\u592e\u884c\u8d44\u91d1\u3002\u53d6\u6d88\u4ef7\u683c\u4e0a\u9650\u5e76\u5f15\u5165\u8d44\u91d1\u5145\u8db3\u7684\u56fd\u6709\u5b9e\u4f53\uff0c\u53ef\u80fd\u6539\u5584\u8be5\u8ba1\u5212\u7684\u7ecf\u6d4e\u6548\u76ca\uff0c\u5e76\u52a0\u901f\u5168\u56fd\u7ea66000\u4e07\u5957\u672a\u552e\u516c\u5bd3\u7684\u6e05\u7406\u3002\u5bf9\u4e8e\u9879\u76ee\u96c6\u4e2d\u5728\u4f18\u8d28\u57ce\u5e02\u5730\u70b9\u7684\u4ec1\u6052\u800c\u8a00\uff0c\u8fd9\u79cd\u534f\u8c03\u5e72\u9884\uff0c\u52a0\u4e0a\u9500\u552e\u4e0b\u964d\u7684\u521d\u6b65\u7f13\u548c\u8ff9\u8c61\uff0c\u53ef\u80fd\u6709\u52a9\u4e8e\u57282026-2027\u5e74\u95f4\u7ef4\u6301\u76c8\u5229\u80fd\u529b\uff0c\u5c3d\u7ba1\u590d\u82cf\u9884\u8ba1\u5c06\u662f\u6e10\u8fdb\u7684\uff0c\u4e14\u6267\u884c\u98ce\u9669\u4ecd\u7136\u5b58\u5728\u3002<br>  <\/li>\n\n\n\n<li><strong>2025\u5e74\u4e0a\u534a\u5e74\u4e1a\u7ee9\u56de\u987e\u3002<\/strong>\u4ec1\u6052\u62a5\u544a2025\u5e74\u4e0a\u534a\u5e74\u6536\u5165\u4e3a92\u4ebf\u4eba\u6c11\u5e01\uff0c\u8f832024\u5e74\u4e0a\u534a\u5e74\u7684200\u4ebf\u4eba\u6c11\u5e01\u4e0b\u964d53.5%\u30022025\u5e74\u4e0a\u534a\u5e74\u6bcf\u80a1\u6536\u76ca\u4e3a0.1963\u65b0\u52a0\u5761\u5143\uff0c\u626d\u8f6c\u4e862024\u5e74\u4e0a\u534a\u5e74\u76840.2516\u65b0\u52a0\u5761\u5143\u4e8f\u635f\u3002<br>  <\/li>\n\n\n\n<li><strong>\u5e02\u573a\u5171\u8bc6<\/strong><figure><img loading=\"lazy\" decoding=\"async\" width=\"497\" height=\"106\" class=\"wp-image-74399\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-blue-and-white-rectangular-box-with-white-text-15.png\" alt=\"A blue and white rectangular box with white text\n\nAI-generated content may be incorrect.\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-blue-and-white-rectangular-box-with-white-text-15.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-blue-and-white-rectangular-box-with-white-text-15-300x64.png 300w\" sizes=\"(max-width: 497px) 100vw, 497px\" \/><\/figure><\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1556\" height=\"617\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-computer-screen-ai-generated-content-2.jpeg\" alt=\"A graph on a computer screen\n\nAI-generated content may be incorrect.\" class=\"wp-image-74400\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-computer-screen-ai-generated-content-2.jpeg 1556w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-computer-screen-ai-generated-content-2-300x119.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-computer-screen-ai-generated-content-2-1024x406.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-computer-screen-ai-generated-content-2-768x305.jpeg 768w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-computer-screen-ai-generated-content-2-1536x609.jpeg 1536w\" sizes=\"(max-width: 1556px) 100vw, 1556px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\">(Source: Bloomberg)<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"752\" height=\"160\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-long-line-of-a-white-background-description-aut-13.jpeg\" alt=\"A long line of a white background\n\nDescription automatically generated with medium confidence\" class=\"wp-image-74401\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-long-line-of-a-white-background-description-aut-13.jpeg 752w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-long-line-of-a-white-background-description-aut-13-300x64.jpeg 300w\" sizes=\"(max-width: 752px) 100vw, 752px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\n  <strong> <\/strong>\n<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>\u94f6\u4e30\u91d1\u878d (MMFS SP)\uff1a\u53d7\u76ca\u4e8e\u9ec4\u91d1\u4e0a\u6da8<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.68\uff0c\u76ee\u6807\u4ef7\uff1a0.76\uff0c\u6b62\u635f\u4ef7\uff1a0.64<\/strong><br>  <\/li>\n\n\n\n<li>\u94f6\u4e30\u91d1\u878d\u670d\u52a1\u6709\u9650\u516c\u53f8\u901a\u8fc7\u5178\u5f53\u3001\u96f6\u552e\u548c\u4ea4\u6613\u4e8c\u624b\u73e0\u5b9d\u53ca\u624b\u8868\u63d0\u4f9b\u91d1\u878d\u670d\u52a1\u3002\u516c\u53f8\u5728\u65b0\u52a0\u5761\u5404\u5730\u62e5\u6709\u548c\u8fd0\u8425\u591a\u5bb6\u95e8\u5e97\u3002<br>  <\/li>\n\n\n\n<li><strong>\u9ec4\u91d1\u548c\u5962\u4f88\u54c1\u96f6\u552e\u6fc0\u589e\u63a8\u52a8\u6536\u5165\u52a0\u901f\u3002<\/strong>\u94f6\u4e30\u57282025\u5e74\u4e0a\u534a\u5e74\u8868\u73b0\u51fa\u8272\uff0c\u6536\u5165\u540c\u6bd4\u589e\u957f31.2%\uff0c\u8fbe\u52302.43\u4ebf\u65b0\u52a0\u5761\u5143\uff0c\u4e3b\u8981\u53d7\u76ca\u4e8e\u9ec4\u91d1\u548c\u5962\u4f88\u54c1\u96f6\u552e\u53ca\u4ea4\u6613\u90e8\u95e8\u6536\u5165\u589e\u957f43.2%\uff0c\u8fbe\u52301.877\u4ebf\u65b0\u52a0\u5761\u5143\u3002\u8fd9\u4e00\u589e\u957f\u5f97\u76ca\u4e8e\u5168\u7403\u9ec4\u91d1\u4ef7\u683c\u7684\u4e0a\u5347\u548c\u5f3a\u52b2\u7684\u4ea4\u6613\u91cf\u3002\u5178\u5f53\u4e1a\u52a1\u4e5f\u5b9e\u73b0\u4e867.2%\u7684\u5065\u5eb7\u589e\u957f\uff0c\u6536\u5165\u8fbe\u52304320\u4e07\u65b0\u52a0\u5761\u5143\uff0c\u5f97\u76ca\u4e8e\u6269\u5c55\u7684\u5e94\u6536\u8d26\u6b3e\u7ec4\u5408\u5e26\u6765\u7684\u66f4\u9ad8\u5229\u606f\u6536\u5165\u3002\u5c3d\u7ba1\u6700\u8fd1\u51fa\u73b0\u77ed\u671f\u6ce2\u52a8\uff0c\u9ec4\u91d1\u5e02\u573a\u7684\u57fa\u672c\u5f3a\u52b2\u4ecd\u652f\u6491\u7740\u6295\u8d44\u548c\u751f\u6d3b\u65b9\u5f0f\u9a71\u52a8\u7684\u9700\u6c42\uff0c\u4f7f\u94f6\u4e30\u80fd\u591f\u6355\u6349\u5230\u5e7f\u6cdb\u5ba2\u6237\u57fa\u7840\u7684\u6d88\u8d39\u3002<br>  <\/li>\n\n\n\n<li><strong>\u8fd0\u8425\u6760\u6746\u548c\u5229\u7387\u987a\u98ce\u63a8\u52a8\u76c8\u5229\u80fd\u529b\u3002<\/strong>\u5f52\u5c5e\u4e8e\u80a1\u4e1c\u7684\u5229\u6da6\u540c\u6bd4\u6fc0\u589e78.8%\uff0c\u8fbe\u52302960\u4e07\u65b0\u52a0\u5761\u5143\uff0c\u7a0e\u524d\u5229\u6da6\u589e\u957f77.6%\uff0c\u8fbe\u52304010\u4e07\u65b0\u52a0\u5761\u5143\uff0c\u53cd\u6620\u4e86\u5f3a\u52b2\u7684\u8fd0\u8425\u6760\u6746\u3002\u8f83\u4f4e\u7684\u501f\u8d37\u6210\u672c\u63d0\u4f9b\u4e86\u989d\u5916\u7684\u987a\u98ce\uff0c\u62b5\u6d88\u4e86\u56e0\u7f51\u7edc\u6269\u5f20\u800c\u589e\u52a0\u7684\u5458\u5de5\u5f00\u652f\u3002\u5728\u65b0\u52a0\u5761\u548c\u9a6c\u6765\u897f\u4e9a\u7684\u589e\u957f\uff0c\u52a0\u4e0a\u8f83\u5927\u7684\u62b5\u62bc\u8d37\u6b3e\u7ec4\u5408\uff0c\u6b63\u5728\u591a\u6837\u5316\u6536\u5165\u6765\u6e90\uff0c\u521b\u9020\u53ef\u6269\u5c55\u7684\u76c8\u5229\u5f15\u64ce\u3002\u5982\u679c\u5982\u5e7f\u6cdb\u9884\u671f\u7684\u90a3\u6837\uff0c\u5229\u7387\u8fdb\u4e00\u6b65\u653e\u677e\uff0c\u878d\u8d44\u6210\u672c\u53ef\u80fd\u8fdb\u4e00\u6b65\u4e0b\u964d\uff0c\u4e3a2025\u5e74\u4e0b\u534a\u5e74\u63d0\u4f9b\u989d\u5916\u7684\u5229\u6da6\u7a7a\u95f4\u3002<br>  <\/li>\n\n\n\n<li><strong>\u5730\u7f18\u653f\u6cbb\u548c\u7f8e\u5143\u75b2\u8f6f\u5f3a\u5316\u907f\u9669\u9ec4\u91d1\u9700\u6c42\u3002<\/strong>\u9ec4\u91d1\u7684\u907f\u9669\u5730\u4f4d\u57282025\u5e74\u5f97\u5230\u4e86\u5f3a\u5316\uff0c\u4ef7\u683c\u5728\u5e74\u521d\u89e6\u53ca\u5386\u53f2\u9ad8\u4f4d\uff0c\u4e3b\u8981\u53d7\u5230\u5730\u7f18\u653f\u6cbb\u7d27\u5f20\u5c40\u52bf\u548c\u4e2d\u592e\u94f6\u884c\u50a8\u5907\u589e\u52a0\u7684\u63a8\u52a8\u3002\u4e4c\u514b\u5170\u6218\u4e89\u3001\u7f8e\u4e2d\u8d38\u6613\u4e0d\u786e\u5b9a\u6027\u4ee5\u53ca\u4e2d\u592e\u94f6\u884c\u6301\u7eed\u51cf\u5c11\u5bf9\u7f8e\u56fd\u8d44\u4ea7\u7684\u914d\u7f6e\u4f7f\u98ce\u9669\u60c5\u7eea\u4fdd\u6301\u8c28\u614e\u3002\u4e16\u754c\u9ec4\u91d1\u534f\u4f1a\uff08WGC\uff09\u62a5\u544a\u79f0\uff0c5\u6708\u4efd\u5168\u7403\u9ec4\u91d1\u50a8\u5907\u51c0\u589e\u52a020\u5428\uff0c\u4e2d\u56fd\u57287\u6708\u4efd\u8fde\u7eed\u7b2c\u4e5d\u4e2a\u6708\u589e\u52a0\u50a8\u5907\uff0c\u4f7f\u9ec4\u91d1\u50a8\u5907\u8fbe\u52307396\u4e07\u76ce\u53f8\uff0c\u4ef7\u503c\u7ea6\u4e3a2439.9\u4ebf\u7f8e\u5143\u3002\u540c\u65f6\uff0c\u53d7\u5230\u7f8e\u8054\u50a8\u964d\u606f\u9884\u671f\u538b\u529b\u7684\u7f8e\u5143\u8d70\u5f31\uff0c\u4f7f\u9ec4\u91d1\u5bf9\u975e\u7f8e\u5143\u4e70\u5bb6\u66f4\u5177\u5438\u5f15\u529b\u3002\u5c3d\u7ba1WGC\u5df2\u4e0b\u8c03\u8fd1\u671f\u8d2d\u4e70\u9884\u6d4b\uff0c\u4f46\u4e2d\u592e\u94f6\u884c\u5411\u9ec4\u91d1\u91cd\u65b0\u914d\u7f6e\u7684\u7ed3\u6784\u6027\u8d8b\u52bf\u4f9d\u7136\u4fdd\u6301\u4e0d\u53d8\u3002\u5bf9\u4e8e\u94f6\u4e30\u800c\u8a00\uff0c\u5176\u6700\u5927\u6536\u5165\u6765\u6e90\u662f\u9ec4\u91d1\u548c\u5962\u4f88\u54c1\u96f6\u552e\uff0c\u8fd9\u4e9b\u5b8f\u89c2\u987a\u98ce\u53ef\u80fd\u5728\u5e02\u573a\u5468\u671f\u4e2d\u6301\u7eed\u9700\u6c42\uff0c\u5e76\u589e\u5f3a\u516c\u53f8\u5728\u6ce2\u52a8\u73af\u5883\u4e2d\u7684\u97e7\u6027\u3002<br>  <\/li>\n\n\n\n<li><strong>2025\u5e74\u4e0a\u534a\u5e74\u4e1a\u7ee9\u56de\u987e\u3002<\/strong>\u94f6\u4e30\u62a5\u544a2025\u5e74\u4e0a\u534a\u5e74\u6536\u5165\u4e3a2.429\u4ebf\u65b0\u52a0\u5761\u5143\uff0c\u540c\u6bd4\u589e\u957f31.2%\uff0c\u800c2024\u5e74\u4e0a\u534a\u5e74\u7684\u6536\u5165\u4e3a1.852\u4ebf\u65b0\u52a0\u5761\u5143\uff0c\u4e3b\u8981\u53d7\u9ec4\u91d1\u548c\u5962\u4f88\u54c1\u96f6\u552e\u53ca\u4ea4\u6613\u90e8\u95e8\u6536\u5165\u540c\u6bd4\u589e\u957f43.2%\uff0c\u8fbe\u52301.877\u4ebf\u65b0\u52a0\u5761\u5143\uff0c\u4ee5\u53ca\u5178\u5f53\u90e8\u95e8\u6536\u5165\u540c\u6bd4\u589e\u957f7.2%\uff0c\u8fbe\u52304320\u4e07\u65b0\u52a0\u5761\u5143\u3002\u57282025\u5e74\u4e0a\u534a\u5e74\uff0c\u5176\u5229\u6da6\u4e3a3180\u4e07\u65b0\u52a0\u5761\u5143\uff0c\u6bd4\u53bb\u5e74\u540c\u671f\u76841800\u4e07\u65b0\u52a0\u5761\u5143\u589e\u957f\u4e8676.4%\u3002\u6bcf\u80a1\u6536\u76ca\u4ece\u53bb\u5e74\u540c\u671f\u76843.75\u65b0\u52a0\u5761\u5206\u4e0a\u5347\u81f36.70\u65b0\u52a0\u5761\u5206\u3002<br>  <\/li>\n\n\n\n<li><strong>\u5e02\u573a\u5171\u8bc6<\/strong><figure><img loading=\"lazy\" decoding=\"async\" width=\"497\" height=\"106\" class=\"wp-image-74402\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-blue-and-white-rectangular-object-with-white-tex-28.png\" alt=\"A blue and white rectangular object with white text\n\nAI-generated content may be incorrect.\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-blue-and-white-rectangular-object-with-white-tex-28.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-blue-and-white-rectangular-object-with-white-tex-28-300x64.png 300w\" sizes=\"(max-width: 497px) 100vw, 497px\" \/><\/figure><\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1556\" height=\"617\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-white-background-ai-generated-conten-17.jpeg\" alt=\"A graph on a white background\n\nAI-generated content may be incorrect.\" class=\"wp-image-74403\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-white-background-ai-generated-conten-17.jpeg 1556w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-white-background-ai-generated-conten-17-300x119.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-white-background-ai-generated-conten-17-1024x406.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-white-background-ai-generated-conten-17-768x305.jpeg 768w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-white-background-ai-generated-conten-17-1536x609.jpeg 1536w\" sizes=\"(max-width: 1556px) 100vw, 1556px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\">(Source: Bloomberg)<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"637\" height=\"135\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74359-13.png\" alt=\"\" class=\"wp-image-74404\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74359-13.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74359-13-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"hk\"><figure><img loading=\"lazy\" decoding=\"async\" width=\"602\" height=\"128\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74359-14.png\" class=\"wp-image-74405\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74359-14.png 602w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74359-14-300x64.png 300w\" sizes=\"(max-width: 602px) 100vw, 602px\" \/><\/figure><a id=\"post-74359-_34eo5yf8y7pj\"><\/a><\/h2>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>\u4e2d\u56fd\u56fd\u9645\u8d44\u672c (3908 HK)\uff1a\u5168\u7403\u8d44\u672c\u6d41\u52a8\u53d8\u5316\u7684\u53d7\u76ca\u8005<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a21.0\uff0c\u76ee\u6807\u4ef7\uff1a24.0\uff0c\u6b62\u635f\u4ef7\uff1a19.5<\/strong><br>  <\/li>\n\n\n\n<li>\u4e2d\u56fd\u56fd\u9645\u8d44\u672c\u516c\u53f8\u662f\u4e00\u5bb6\u603b\u90e8\u4f4d\u4e8e\u4e2d\u56fd\u7684\u516c\u53f8\uff0c\u4e3b\u8981\u4e3a\u56fd\u5185\u5916\u4f01\u4e1a\u3001\u673a\u6784\u548c\u4e2a\u4eba\u63d0\u4f9b\u6295\u8d44\u94f6\u884c\u670d\u52a1\u3002\u516c\u53f8\u4e3b\u8981\u901a\u8fc7\u516d\u4e2a\u90e8\u95e8\u8fd0\u8425\u4e1a\u52a1\u3002\u6295\u8d44\u94f6\u884c\u90e8\u95e8\u4e3b\u8981\u4e3a\u4f01\u4e1a\u548c\u673a\u6784\u63d0\u4f9b\u80a1\u6743\u878d\u8d44\u3001\u503a\u52a1\u548c\u7ed3\u6784\u5316\u878d\u8d44\u53ca\u8d22\u52a1\u54a8\u8be2\u670d\u52a1\u3002\u80a1\u7968\u90e8\u95e8\u4e3b\u8981\u4e3a\u4e13\u4e1a\u6295\u8d44\u8005\u63d0\u4f9b\u80a1\u7968\u4e1a\u52a1\u7684\u7efc\u5408\u91d1\u878d\u670d\u52a1\u3002\u56fa\u5b9a\u6536\u76ca\u90e8\u95e8\u4e3b\u8981\u63d0\u4f9b\u5229\u7387\u548c\u5916\u6c47\u3001\u4fe1\u7528\u4e1a\u52a1\u3001\u8bc1\u5238\u5316\u4e1a\u52a1\u3001\u884d\u751f\u54c1\u548c\u671f\u8d27\u4e1a\u52a1\u3002\u6295\u8d44\u7ba1\u7406\u90e8\u95e8\u4e3b\u8981\u4ece\u4e8b\u8d44\u4ea7\u7ba1\u7406\u3001\u57fa\u91d1\u7ba1\u7406\u548c\u79c1\u52df\u80a1\u6743\u6295\u8d44\u57fa\u91d1\u4e1a\u52a1\u3002\u8d22\u5bcc\u7ba1\u7406\u90e8\u95e8\u4e3b\u8981\u63d0\u4f9b\u8d22\u5bcc\u7ba1\u7406\u4ea7\u54c1\u548c\u670d\u52a1\u3002\u7814\u7a76\u90e8\u95e8\u4e3b\u8981\u4e3a\u5ba2\u6237\u63d0\u4f9b\u7814\u7a76\u670d\u52a1\u3002<br>  <\/li>\n\n\n\n<li><strong>\u8d44\u672c\u6d41\u5165\u65b0\u5174\u5e02\u573a\u3002<\/strong>\u7531\u4e8e\u7f8e\u56fd\u653f\u7b56\u4e0d\u7a33\u5b9a\u548c\u8d38\u6613\u7d27\u5f20\u5c40\u52bf\u52a0\u5267\uff0c\u7f8e\u5143\u6301\u7eed\u8d2c\u503c\uff0c\u4fc3\u4f7f\u5168\u7403\u6295\u8d44\u8005\u51cf\u5c11\u5bf9\u7f8e\u56fd\u7684\u6295\u8d44\uff0c\u5e76\u5bfb\u6c42\u65b0\u5174\u5e02\u573a\u7684\u673a\u4f1a\u30024\u6708\u4efd\u6807\u5fd7\u7740\u4e00\u4e2a\u8f6c\u6298\u70b9\uff0c\u4e2d\u56fd\u7684\u51c0\u6d41\u5165\u91cf\u5927\u5e45\u4e0a\u5347\uff0c\u7279\u522b\u662f\u80a1\u7968\u9886\u57df\uff0c\u663e\u793a\u51fa\u6295\u8d44\u8005\u4fe1\u5fc3\u7684\u6062\u590d\u3002\u867d\u71365\u6708\u4efd\u7565\u6709\u56de\u843d\uff0c\u4f466\u6708\u548c7\u6708\u51c0\u6d41\u5165\u6062\u590d\uff0c\u81ea4\u6708\u4ee5\u6765\u5916\u8d44\u6295\u8d44\u6c34\u5e73\u4fdd\u6301\u5728\u9ad8\u4f4d\u3002\u8fd9\u4e00\u8d44\u672c\u6d8c\u5165\u652f\u6301\u4e86\u5e02\u573a\u6d41\u52a8\u6027\u3001\u4ea4\u6613\u91cf\u548c\u8d44\u4ea7\u4f30\u503c\uff0c\u6210\u4e3a\u4e2d\u91d1\u516c\u53f8\uff08CICC\uff09\u7684\u4e3b\u8981\u6536\u5165\u9a71\u52a8\u56e0\u7d20\u3002\u4f5c\u4e3a\u4e2d\u56fd\u9886\u5148\u7684\u6295\u8d44\u94f6\u884c\u4e4b\u4e00\uff0c\u4e2d\u91d1\u516c\u53f8\u51ed\u501f\u5f3a\u5927\u7684\u8d44\u4ea7\u7ba1\u7406\u548c\u7ecf\u7eaa\u80fd\u529b\uff0c\u5c06\u53d7\u76ca\u4e8e\u66f4\u9ad8\u7684\u4ea4\u6613\u6536\u5165\u548c\u6269\u5927\u7684\u8d44\u4ea7\u57fa\u7840\uff0c\u4ece\u800c\u63d0\u5347\u7ecf\u5e38\u6027\u7ba1\u7406\u8d39\u7528\u3002<br>  <\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u8d44\u91d1\u6d41\u52a8 \u2013 \u4e2d\u56fd<\/strong>\n<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><img loading=\"lazy\" decoding=\"async\" width=\"1601\" height=\"390\" class=\"wp-image-74406\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-screenshot-of-a-computer-ai-generated-content-m-34.png\" alt=\"A screenshot of a computer\n\nAI-generated content may be incorrect.\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-screenshot-of-a-computer-ai-generated-content-m-34.png 1601w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-screenshot-of-a-computer-ai-generated-content-m-34-300x73.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-screenshot-of-a-computer-ai-generated-content-m-34-1024x249.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-screenshot-of-a-computer-ai-generated-content-m-34-768x187.png 768w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-screenshot-of-a-computer-ai-generated-content-m-34-1536x374.png 1536w\" sizes=\"(max-width: 1601px) 100vw, 1601px\" \/> <\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\">(Source: Bloomberg)<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>9\u6708\u4efd\u53ef\u80fd\u964d\u606f\u3002<\/strong>\u6839\u636eCME FedWatch\uff0c9\u6708\u4efd\u7f8e\u8054\u50a8\u964d\u606f25\u4e2a\u57fa\u70b9\u7684\u6982\u7387\u4e3a92.6%\uff0c\u8fd9\u5c06\u662f\u4eca\u5e74\u7684\u7b2c\u4e00\u6b21\u5bbd\u677e\u4e3e\u63aa\uff0c\u5e02\u573a\u9884\u8ba1\u5e74\u5185\u53ef\u80fd\u8fd8\u6709\u989d\u5916\u964d\u606f\u3002\u7f8e\u56fd\u5229\u7387\u7684\u964d\u4f4e\u5c06\u524a\u5f31\u7f8e\u5143\uff0c\u964d\u4f4e\u5168\u7403\u878d\u8d44\u6210\u672c\uff0c\u523a\u6fc0\u8de8\u5883\u8d44\u672c\u6d41\u5165\u66f4\u9ad8\u589e\u957f\u533a\u57df\uff0c\u5c24\u5176\u662f\u4e9a\u6d32\u3002\u5bf9\u4e8e\u4e2d\u91d1\u516c\u53f8\u800c\u8a00\uff0c\u5168\u7403\u6d41\u52a8\u6027\u6761\u4ef6\u7684\u6539\u5584\u53ef\u80fd\u8f6c\u5316\u4e3a\u66f4\u591a\u7684\u4ea4\u6613\u3001\u627f\u9500\u6d3b\u52a8\u548c\u6295\u8d44\u7ec4\u5408\u91cd\u65b0\u5e73\u8861\u81f3\u4e2d\u56fd\u8d44\u4ea7\u3002\u8fd9\u4e00\u5b8f\u89c2\u80cc\u666f\u5c06\u589e\u5f3a\u4e2d\u56fd\u80a1\u7968\u548c\u503a\u5238\u7684\u5438\u5f15\u529b\uff0c\u8fdb\u4e00\u6b65\u652f\u6301\u4e2d\u91d1\u516c\u53f8\u7684\u6295\u8d44\u94f6\u884c\u548c\u4ea4\u6613\u6536\u5165\u6d41\uff0c\u540c\u65f6\u6539\u5584\u5176\u4f01\u4e1a\u5ba2\u6237\u7684\u878d\u8d44\u6761\u4ef6\u3002<br>  <\/li>\n\n\n\n<li><strong>\u6218\u7565\u6269\u5c55\u81f3\u4e1c\u5357\u4e9a\u4ee5\u591a\u5143\u5316\u589e\u957f\u3002<\/strong>\u4e2d\u91d1\u516c\u53f8\u7684\u79c1\u52df\u80a1\u6743\u90e8\u95e8\u4e2d\u91d1\u8d44\u672c\u6b63\u5728\u4e0e\u9a6c\u6765\u897f\u4e9a\u6570\u5b57\u7ecf\u6d4e\u516c\u53f8\u5408\u4f5c\uff0c\u63a8\u51fa\u4e00\u53ea1\u4ebf\u7f8e\u5143\u7684\u57fa\u91d1\uff0c\u9488\u5bf9\u8be5\u56fd\u7684\u6e38\u620f\u884c\u4e1a\uff0c\u8fd9\u4e5f\u662f\u56fd\u6709\u652f\u6301\u7684\u4e2d\u56fd\u6295\u8d44\u94f6\u884c\u5728\u4e1c\u5357\u4e9a\u90e8\u7f72\u8d85\u8fc710\u4ebf\u7f8e\u5143\u7684\u66f4\u5e7f\u6cdb\u4e3e\u63aa\u3002\u6b64\u6269\u5c55\u4e0e\u5317\u4eac\u7684\u201cChina plus N\u201d\u6218\u7565\u76f8\u7b26\u5408\uff0c\u5e2e\u52a9\u4e2d\u56fd\u4f01\u4e1a\u591a\u5143\u5316\u4f9b\u5e94\u94fe\uff0c\u8fdb\u5165\u4e1c\u5357\u4e9a\u7684\u9ad8\u589e\u957f\u9886\u57df\uff0c\u5982\u4eba\u5de5\u667a\u80fd\u3001\u53ef\u518d\u751f\u80fd\u6e90\u3001\u5148\u8fdb\u5236\u9020\u548c\u533b\u7597\u4fdd\u5065\u3002\u4e2d\u56fd\u5df2\u662f\u8be5\u5730\u533a\u6700\u5927\u7684\u8d38\u6613\u4f19\u4f34\uff0c\u4e2d\u91d1\u516c\u53f8\u7684\u533a\u57df\u5b58\u5728\u5c06\u6df1\u5316\u8de8\u5883\u6295\u8d44\u6d41\u52a8\uff0c\u8d85\u8d8a\u56fd\u5185\u5e02\u573a\u591a\u5143\u5316\u6536\u5165\uff0c\u5e76\u4f7f\u516c\u53f8\u80fd\u591f\u4ece\u65e5\u76ca\u589e\u957f\u7684\u53cc\u8fb9\u8d38\u6613\u548c\u6570\u5b57\u7ecf\u6d4e\u5021\u8bae\u4e2d\u83b7\u53d6\u4ef7\u503c\u3002<br>  <\/li>\n\n\n\n<li><strong>2025\u5e74\u7b2c\u4e00\u5b63\u5ea6\u4e1a\u7ee9\u56de\u987e\u3002<\/strong>2025\u5e74\u7b2c\u4e00\u5b63\u5ea6\u6536\u5165\u540c\u6bd4\u589e\u957f47.7%\uff0c\u8fbe\u523057.2\u4ebf\u4eba\u6c11\u5e01\uff0c\u800c2024\u5e74\u7b2c\u4e00\u5b63\u5ea6\u4e3a38.7\u4ebf\u4eba\u6c11\u5e01\u3002\u5f52\u5c5e\u4e8e\u80a1\u4e1c\u7684\u5229\u6da6\u540c\u6bd4\u589e\u957f64.9%\uff0c\u8fbe\u523020.4\u4ebf\u4eba\u6c11\u5e01\uff0c\u800c2024\u5e74\u7b2c\u4e00\u5b63\u5ea6\u4e3a12.4\u4ebf\u4eba\u6c11\u5e01\u3002\u57fa\u672c\u6bcf\u80a1\u6536\u76ca\u4e3a0.382\u5143\uff0c\u800c2024\u5e74\u7b2c\u4e00\u5b63\u5ea6\u4e3a0.223\u5143\u3002<br>  <\/li>\n\n\n\n<li><strong>\u5e02\u573a\u5171\u8bc6<\/strong><figure><img loading=\"lazy\" decoding=\"async\" width=\"497\" height=\"106\" class=\"wp-image-74407\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-blue-and-white-rectangular-object-with-numbers-29.png\" alt=\"A blue and white rectangular object with numbers\n\nAI-generated content may be incorrect.\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-blue-and-white-rectangular-object-with-numbers-29.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-blue-and-white-rectangular-object-with-numbers-29-300x64.png 300w\" sizes=\"(max-width: 497px) 100vw, 497px\" \/><\/figure><\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1556\" height=\"617\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-screen-shot-of-a-graph-ai-generated-content-may-1.jpeg\" alt=\"A screen shot of a graph\n\nAI-generated content may be incorrect.\" class=\"wp-image-74408\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-screen-shot-of-a-graph-ai-generated-content-may-1.jpeg 1556w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-screen-shot-of-a-graph-ai-generated-content-may-1-300x119.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-screen-shot-of-a-graph-ai-generated-content-may-1-1024x406.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-screen-shot-of-a-graph-ai-generated-content-may-1-768x305.jpeg 768w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-screen-shot-of-a-graph-ai-generated-content-may-1-1536x609.jpeg 1536w\" sizes=\"(max-width: 1556px) 100vw, 1556px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\">(Source: Bloomberg)<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong><figure><img loading=\"lazy\" decoding=\"async\" width=\"637\" height=\"135\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74359-18.png\" class=\"wp-image-74409\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74359-18.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74359-18-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure><\/strong><\/h3>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>\u91d1\u6c99\u4e2d\u56fd (1928 HK)\uff1a\u6fb3\u95e8\u65c5\u6e38\u6c34\u5e73\u5f3a\u52b2<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a19.9\uff0c\u76ee\u6807\u4ef7\uff1a22.7\uff0c\u6b62\u635f\u4ef7\uff1a18.5<\/strong><br>  <\/li>\n\n\n\n<li>\u91d1\u6c99\u4e2d\u56fd\u6709\u9650\u516c\u53f8\u662f\u4e00\u5bb6\u6295\u8d44\u63a7\u80a1\u516c\u53f8\uff0c\u4e3b\u8981\u4ece\u4e8b\u5ea6\u5047\u6751\u7684\u5f00\u53d1\u548c\u8fd0\u8425\u3002\u8be5\u516c\u53f8\u901a\u8fc7\u516d\u4e2a\u4e1a\u52a1\u90e8\u95e8\u8fd0\u8425\u5176\u4e1a\u52a1\u3002\u6fb3\u95e8\u5a01\u5c3c\u65af\u4eba\u90e8\u95e8\u4ece\u4e8b\u8d4c\u573a\u3001\u9152\u5e97\u548c\u8d2d\u7269\u4e2d\u5fc3\u7684\u8fd0\u8425\uff0c\u4ee5\u53ca\u63d0\u4f9b\u9910\u996e\u670d\u52a1\u7b49\u3002\u6fb3\u95e8\u4f26\u6566\u4eba\u90e8\u95e8\u4ece\u4e8b\u8d4c\u573a\u3001\u9152\u5e97\u548c\u8d2d\u7269\u4e2d\u5fc3\u7684\u8fd0\u8425\uff0c\u4ee5\u53ca\u63d0\u4f9b\u9910\u996e\u670d\u52a1\u7b49\u3002\u6fb3\u95e8\u5df4\u9ece\u4eba\u90e8\u95e8\u4ece\u4e8b\u8d4c\u573a\u3001\u9152\u5e97\u548c\u8d2d\u7269\u4e2d\u5fc3\u7684\u8fd0\u8425\uff0c\u4ee5\u53ca\u63d0\u4f9b\u9910\u996e\u670d\u52a1\u7b49\u3002\u6fb3\u95e8\u5e7f\u573a\u90e8\u95e8\u4ece\u4e8b\u8d4c\u573a\u3001\u9152\u5e97\u548c\u8d2d\u7269\u4e2d\u5fc3\u7684\u8fd0\u8425\uff0c\u4ee5\u53ca\u63d0\u4f9b\u9910\u996e\u670d\u52a1\u7b49\u3002\u6fb3\u95e8\u91d1\u6c99\u90e8\u95e8\u4ece\u4e8b\u8d4c\u573a\u3001\u9152\u5e97\u548c\u8d2d\u7269\u4e2d\u5fc3\u7684\u8fd0\u8425\uff0c\u4ee5\u53ca\u63d0\u4f9b\u9910\u996e\u670d\u52a1\u7b49\u3002\u6e21\u8f6e\u53ca\u5176\u4ed6\u8fd0\u8425\u90e8\u95e8\u4ece\u4e8b\u6e21\u8f6e\u3001\u7a7f\u68ad\u5df4\u58eb\u548c\u5176\u4ed6\u670d\u52a1\u7684\u63d0\u4f9b\u3002<br><\/li>\n\n\n\n<li><strong>\u975e\u535a\u5f69\u6d88\u8d39\u7684\u589e\u52a0\u589e\u5f3a\u4e86\u7efc\u5408\u5ea6\u5047\u6751\u7684\u5438\u5f15\u529b\u3002<\/strong>\u6fb3\u95e8\u7684\u975e\u535a\u5f69\u6e38\u5ba2\u652f\u51fa\u57282025\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u8fbe\u523022.6\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f4.6%\uff0c\u5176\u4e2d\u8d2d\u7269\u3001\u4f4f\u5bbf\u548c\u9910\u996e\u662f\u6700\u5927\u6d88\u8d39\u7c7b\u522b\u3002\u8fd9\u4e2a\u8d8b\u52bf\u51f8\u663e\u4e86\u91d1\u6c99\u4e2d\u56fd\u4f5c\u4e3a\u9886\u5148\u7684\u7efc\u5408\u5ea6\u5047\u6751\u8fd0\u8425\u5546\u7684\u6218\u7565\u4f18\u52bf\uff0c\u63d0\u4f9b\u5e7f\u6cdb\u7684\u975e\u535a\u5f69\u670d\u52a1\uff0c\u4ece\u5962\u4f88\u96f6\u552e\u5230\u7c73\u5176\u6797\u9910\u5385\uff0c\u518d\u5230\u5927\u578b\u6d3b\u52a8\u573a\u5730\u3002\u5c3d\u7ba1\u4eba\u5747\u6d88\u8d39\u540c\u6bd4\u4e0b\u964d12.3%\uff0c\u4f46\u9ad8\u4ef7\u503c\u6e38\u5ba2\u7fa4\u4f53\uff08\u5982\u97f3\u4e50\u4f1a\u89c2\u4f17\u548c\u4f1a\u8bae\u53c2\u4f1a\u8005\uff09\u4ecd\u7136\u5177\u6709\u76c8\u5229\u6027\u3002\u91d1\u6c99\u4e2d\u56fd\u901a\u8fc7\u5176\u6d3b\u52a8\u89c4\u5212\u3001\u4f1a\u8bae\u8bbe\u65bd\u548c\u591a\u6837\u5316\u7684\u4fbf\u5229\u8bbe\u65bd\u6355\u6349\u8fd9\u4e9b\u9ad8\u7aef\u6d88\u8d39\u8005\u7684\u80fd\u529b\uff0c\u4f7f\u5176\u80fd\u591f\u5728\u535a\u5f69\u4e4b\u5916\u62d3\u5c55\u6536\u5165\u6765\u6e90\u3002<br>  <\/li>\n\n\n\n<li><strong>2025\u5e74\u91d1\u6c99\u8d2d\u7269\u5609\u5e74\u534e\u671f\u95f4\u8bbf\u5ba2\u6570\u91cf\u5f3a\u52b2\u3002<\/strong>\u6839\u636e\u91d1\u6c99\u4e2d\u56fd\u7684\u6d88\u606f\uff0c2025\u5e74\u91d1\u6c99\u8d2d\u7269\u5609\u5e74\u534e\u4e8e7\u670817\u65e5\u81f319\u65e5\u5728\u5a01\u5c3c\u65af\u4eba\u6fb3\u95e8\u4e3e\u884c\uff0c\u5438\u5f15\u4e86\u8fd111\u4e07\u540d\u6e38\u5ba2\u3002\u6b64\u6b21\u6d3b\u52a8\u8bbe\u6709\u8d85\u8fc7580\u4e2a\u644a\u4f4d\uff0c\u5e76\u5728\u6c39\u4ed4\u5c55\u89c8\u4e2d\u5fc3\u4e3e\u529e\u3002\u5c3d\u7ba1\u4e0e\u53bb\u5e74\u4e3a\u671f\u56db\u5929\u7684\u6d3b\u52a8\u76f8\u6bd4\uff0c\u4eca\u5e74\u7684\u6d3b\u52a8\u53ea\u6709\u4e09\u5929\uff0c\u4f46\u53c2\u4e0e\u4eba\u6570\u5927\u81f4\u76f8\u5f53\uff0c\u53cd\u6620\u51fa\u5f53\u5730\u5c45\u6c11\u548c\u6e38\u5ba2\u5bf9\u6b64\u6b21\u6d3b\u52a8\u7684\u5f3a\u70c8\u5174\u8da3\u3002\u8fd9\u4e00\u5f3a\u52b2\u7684\u53c2\u4e0e\u4eba\u6570\u9884\u8ba1\u5c06\u5bf9\u516c\u53f8\u7684\u6536\u5165\u8868\u73b0\u4ea7\u751f\u79ef\u6781\u5f71\u54cd\u3002<br>  <\/li>\n\n\n\n<li><strong>\u6fb3\u95e8\u65c5\u6e38\u4e1a\u9884\u671f\u6fc0\u589e\u3002<\/strong>\u4e2d\u56fd\u76ee\u524d\u6b63\u7ecf\u5386\u521b\u7eaa\u5f55\u7684\u590f\u5b63\u65c5\u884c\u5b63\u8282\uff0c\u9884\u8ba1\u57287\u6708\u81f38\u6708\u4e4b\u95f4\u5c06\u6709\u8d85\u8fc79\u4ebf\u6b21\u94c1\u8def\u65c5\u884c\u3002\u6fb3\u95e8\u5728\u8fd9\u4e00\u6fc0\u589e\u4e2d\u5904\u4e8e\u6709\u5229\u4f4d\u7f6e\uff0c\u56e0\u4e3a6\u6708\u7684\u8d4c\u573a\u6536\u5165\u5728\u5f3a\u52b2\u7684\u6e38\u5ba2\u6d41\u91cf\u4e2d\u540c\u6bd4\u589e\u957f\u4e8619%\u3002\u8fd9\u79cd\u52bf\u5934\u9884\u8ba1\u5c06\u5728\u6574\u4e2a\u590f\u5b63\u4fdd\u6301\u5f3a\u52b2\uff0c\u5f97\u76ca\u4e8e\u4e00\u7cfb\u5217\u9ad8\u7aef\u5a31\u4e50\u6d3b\u52a8\uff0c\u5305\u62ec\u5f20\u5b66\u53cb\u7684\u97f3\u4e50\u4f1a\u548cG-Dragon\u7684\u6f14\u51fa\u3002\u6e38\u5ba2\u6d41\u91cf\u7684\u589e\u52a0\uff0c\u7279\u522b\u662f\u5728\u9ad8\u7aef\u5e02\u573a\uff0c\u9884\u8ba1\u5c06\u5bf9\u91d1\u6c99\u4e2d\u56fd\u4ea7\u751f\u79ef\u6781\u5f71\u54cd\u3002<br>  <\/li>\n\n\n\n<li><strong>\u901a\u8fc7\u6218\u7565\u8425\u9500\u589e\u5f3a\u54c1\u724c\u66dd\u5149\u5ea6\u3002<\/strong>\u91d1\u6c99\u4e2d\u56fd\u5229\u7528\u4e0eNBA\u7684\u591a\u5e74\u5408\u4f5c\u4f19\u4f34\u5173\u7cfb\u6765\u63d0\u5347\u54c1\u724c\u5f62\u8c61\u3002\u6839\u636e\u534f\u8bae\uff0c\u672a\u6765\u4e94\u5e74\u5c06\u5728\u5a01\u5c3c\u65af\u4eba\u6fb3\u95e8\u6bcf\u5e74\u4e3e\u529e\u4e24\u573a\u5b63\u524d\u8d5bNBA\u6bd4\u8d5b\u3002\u516c\u53f8\u5c06\u572810\u6708\u4e3b\u529e2025\u5e74\u7684\u6bd4\u8d5b\uff0c\u5e76\u63a8\u51fa\u201c2025 NBA\u4e2d\u56fd\u8d5b\u4f53\u9a8c\u5957\u9910\u201d\uff0c\u63d0\u4f9b\u4f26\u6566\u4eba\u6fb3\u95e8\u7684\u4e94\u79cd\u4f4f\u5bbf\u7b49\u7ea7\u3002\u6700\u9ad8\u7ea7\u5957\u9910\u5305\u62ec\u4e13\u5c5e\u540e\u53f0\u901a\u884c\u8bc1\u548c\u4e0eNBA\u4f20\u5947\u4eba\u7269\u7684\u7528\u9910\u4f53\u9a8c\u3002\u8fd9\u4e9b\u4e3e\u63aa\u65e8\u5728\u901a\u8fc7NBA\u54c1\u724c\u7684\u5168\u7403\u5438\u5f15\u529b\uff0c\u63a8\u52a8\u6d41\u91cf\u5e76\u63d0\u5347\u91d1\u6c99\u4e2d\u56fd\u7684\u9152\u5e97\u548c\u96f6\u552e\u4ea7\u54c1\u3002<br>  <\/li>\n\n\n\n<li><strong>2025\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u4e1a\u7ee9\u56de\u987e\u3002<\/strong>2025\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u6536\u5165\u540c\u6bd4\u589e\u957f2.5%\uff0c\u8fbe\u523017.9\u4ebf\u7f8e\u5143\uff0c\u800c2023\u8d22\u5e74\u4e3a65.3\u4ebf\u7f8e\u5143\u3002\u51c0\u6536\u5165\u57282025\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u964d\u81f32.14\u4ebf\u7f8e\u5143\uff0c\u800c2024\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u4e3a2.46\u4ebf\u7f8e\u5143\u3002\u7b2c\u4e8c\u5b63\u5ea6\u7684\u8d44\u672c\u652f\u51fa\u603b\u8ba1\u4e3a2.86\u4ebf\u7f8e\u5143\uff0c\u5176\u4e2d\u5305\u62ec\u5728\u6fb3\u95e8\u7684\u5efa\u8bbe\u3001\u5f00\u53d1\u548c\u7ef4\u62a4\u6d3b\u52a8\u76841.38\u4ebf\u7f8e\u5143\u3002<br>  <\/li>\n\n\n\n<li><strong>\u5e02\u573a\u5171\u8bc6<\/strong><figure><img loading=\"lazy\" decoding=\"async\" width=\"497\" height=\"106\" class=\"wp-image-74410\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-blue-and-white-rectangular-object-with-white-tex-29.png\" alt=\"A blue and white rectangular object with white text\n\nAI-generated content may be incorrect.\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-blue-and-white-rectangular-object-with-white-tex-29.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-blue-and-white-rectangular-object-with-white-tex-29-300x64.png 300w\" sizes=\"(max-width: 497px) 100vw, 497px\" \/><\/figure><\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1556\" height=\"617\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-screen-ai-generated-content-may-be-i-22.jpeg\" alt=\"A graph on a screen\n\nAI-generated content may be incorrect.\" class=\"wp-image-74411\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-screen-ai-generated-content-may-be-i-22.jpeg 1556w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-screen-ai-generated-content-may-be-i-22-300x119.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-screen-ai-generated-content-may-be-i-22-1024x406.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-screen-ai-generated-content-may-be-i-22-768x305.jpeg 768w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-screen-ai-generated-content-may-be-i-22-1536x609.jpeg 1536w\" sizes=\"(max-width: 1556px) 100vw, 1556px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\">(Source: Bloomberg)<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"637\" height=\"135\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74359-21.png\" alt=\"\" class=\"wp-image-74412\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74359-21.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74359-21-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<figure class=\"wp-block-image\" id=\"us\"><img loading=\"lazy\" decoding=\"async\" width=\"602\" height=\"128\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74359-22.png\" alt=\"\" class=\"wp-image-74413\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74359-22.png 602w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74359-22-300x64.png 300w\" sizes=\"(max-width: 602px) 100vw, 602px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>\u8d1d\u83b1\u5fb7\u96c6\u56e2(BLK US): \u5229\u7528\u653f\u7b56\u53d8\u5316\u4e3b\u5bfc\u9000\u4f11\u66ff\u4ee3\u54c1<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a1,120 \u76ee\u6807\u4ef7\uff1a1,240 \u6b62\u635f\u4ef7\uff1a1,060<\/strong><br>  <\/li>\n\n\n\n<li>\u8d1d\u83b1\u5fb7\u96c6\u56e2\u63d0\u4f9b\u6295\u8d44\u7ba1\u7406\u670d\u52a1\u3002\u516c\u53f8\u63d0\u4f9b\u6295\u8d44\u3001\u987e\u95ee\u548c\u98ce\u9669\u7ba1\u7406\u670d\u52a1\uff0c\u670d\u52a1\u5bf9\u8c61\u5305\u62ec\u5168\u7403\u7684\u4e2a\u4eba\u3001\u5bb6\u5ead\u3001\u6559\u80b2\u673a\u6784\u3001\u653f\u5e9c\u3001\u4fdd\u9669\u516c\u53f8\u548c\u975e\u8425\u5229\u7ec4\u7ec7\u3002<br>  <\/li>\n\n\n\n<li><strong>401(k)\u66ff\u4ee3\u6295\u8d44\u63a5\u5165\u3002<\/strong>\u65b0\u7684\u7279\u6717\u666e\u653f\u7b56\u5141\u8bb8401(k)\u8ba1\u5212\u6295\u8d44\u4e8e\u79c1\u52df\u80a1\u6743\u3001\u57fa\u7840\u8bbe\u65bd\u548c\u79c1\u52df\u4fe1\u8d37\u7b49\u66ff\u4ee3\u8d44\u4ea7\uff0c\u8fd9\u4e0e\u8d1d\u83b1\u5fb7\u5728\u76ee\u6807\u65e5\u671f\u57fa\u91d1\u548c\u786e\u5b9a\u7f34\u6b3e\u8ba1\u5212\u5206\u914d\u4e2d\u7684\u4e3b\u5bfc\u5730\u4f4d\u5b8c\u5168\u4e00\u81f4\u3002\u8d1d\u83b1\u5fb7\u5df2\u5ba3\u5e03\u5c06\u57282026\u5e74\u63a8\u51fa\u76ee\u6807\u65e5\u671f\u57fa\u91d1\uff0c\u6574\u54085%-20%\u7684\u79c1\u52df\u80a1\u6743\u548c\u79c1\u52df\u4fe1\u8d37\u914d\u7f6e\uff0c\u5177\u4f53\u53d6\u51b3\u4e8e\u6295\u8d44\u8005\u7684\u5e74\u9f84\uff0c\u5e76\u4e0eGreat Gray Trust\u5408\u4f5c\u5c06\u8fd9\u4e9b\u4ea7\u54c1\u63a8\u5411\u5e02\u573a\u3002\u9000\u4f11\u50a8\u84c4\u5df2\u5360\u8d1d\u83b1\u5fb7\u8d44\u4ea7\u7ba1\u7406\u89c4\u6a21\u7684\u4e00\u534a\u4ee5\u4e0a\uff0c\u516c\u53f8\u4f30\u8ba1\u79c1\u52df\u5e02\u573a\u7684\u655e\u53e3\u6bcf\u5e74\u53ef\u63d0\u5347\u56de\u62a5\u7ea650\u4e2a\u57fa\u70b9\uff0c\u521b\u9020\u51fa\u663e\u8457\u7684\u7ade\u4e89\u4f18\u52bf\uff0c\u56e0\u4e3a\u8ba1\u5212\u8d5e\u52a9\u4eba\u5bfb\u6c42\u6536\u76ca\u589e\u5f3a\u548c\u653f\u7b56\u5408\u89c4\u7684\u89e3\u51b3\u65b9\u6848\u3002<br>  <\/li>\n\n\n\n<li><strong>\u901a\u8fc7\u5e76\u8d2d\u5728\u79c1\u52df\u5e02\u573a\u6269\u5f20\u3002<\/strong>\u6536\u8d2d\u5982Global Infrastructure Partners\u3001HPS Investment Partners\u3001Preqin\uff0c\u4ee5\u53ca\u672a\u6765\u6536\u8d2dElmTree Funds\uff0c\u5df2\u5efa\u7acb\u8d77\u4e00\u4e2a\u80fd\u591f\u7ba1\u7406\u6839\u636e\u65b0\u653f\u7b56\u7b26\u5408\u9000\u4f11\u8d26\u6237\u8d44\u683c\u7684\u8d44\u4ea7\u7c7b\u522b\u7684\u79c1\u52df\u5e02\u573a\u5e73\u53f0\u3002\u968f\u7740\u79c1\u52df\u5e02\u573a\u53ef\u80fd\u5360\u672a\u6765\u9000\u4f11\u6295\u8d44\u7ec4\u5408\u768420%\uff0c\u8d1d\u83b1\u5fb7\u5728\u6d41\u52a8\u6027\u5dee\u8d44\u4ea7\u4e2d\u7684\u89c4\u6a21\uff0c\u52a0\u4e0a\u5176\u8fd0\u8425\u3001\u5408\u89c4\u548c\u98ce\u9669\u7ba1\u7406\u57fa\u7840\u8bbe\u65bd\uff0c\u4f7f\u5176\u80fd\u591f\u5e94\u5bf9\u6d41\u52a8\u6027\u3001\u900f\u660e\u5ea6\u548c\u6cbb\u7406\u6311\u6218\u3002\u5728\u56de\u62a5\u751f\u6210\u66f4\u4e3a\u56f0\u96be\u7684\u4f4e\u5229\u7387\u73af\u5883\u4e0b\uff0c\u8be5\u516c\u53f8\u7684\u66ff\u4ee3\u8d44\u4ea7\u80fd\u529b\u6269\u5c55\uff0c\u5e76\u4e0e\u9000\u4f11\u6e20\u9053\u6df1\u5ea6\u6574\u5408\uff0c\u4f7f\u5176\u5728\u5e02\u573a\u9002\u5e94\u653f\u7b56\u53d8\u5316\u65f6\u5177\u5907\u5148\u53d1\u4f18\u52bf\u548c\u6355\u6349\u8d85\u989d\u8d44\u91d1\u6d41\u5165\u7684\u80fd\u529b\u3002<br>  <\/li>\n\n\n\n<li><strong>2025\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u6536\u76ca\u56de\u987e\u3002<\/strong>\u6536\u5165\u540c\u6bd4\u589e\u957f12.7%\uff0c\u8fbe\u523054.2\u4ebf\u7f8e\u5143\uff0c\u4f4e\u4e8e\u9884\u671f4000\u4e07\u7f8e\u5143\u3002\u975eGAAP\u6bcf\u80a1\u6536\u76ca\u4e3a12.05\u7f8e\u5143\uff0c\u8d85\u51fa\u9884\u671f1.23\u7f8e\u5143\u3002\u8d1d\u83b1\u5fb7\u5ba3\u5e03\u5b63\u5ea6\u80a1\u606f\u4e3a\u6bcf\u80a15.21\u7f8e\u5143\uff0c\u4e0e\u4e4b\u524d\u4e00\u81f4\uff0c\u5c06\u4e8e9\u670823\u65e5\u5206\u914d\u3002<br>  <\/li>\n\n\n\n<li><strong>\u5e02\u573a\u5171\u8bc6<\/strong><\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"497\" height=\"106\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-blue-and-white-rectangular-object-with-numbers-30.png\" alt=\"A blue and white rectangular object with numbers\n\nAI-generated content may be incorrect.\" class=\"wp-image-74414\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-blue-and-white-rectangular-object-with-numbers-30.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-blue-and-white-rectangular-object-with-numbers-30-300x64.png 300w\" sizes=\"(max-width: 497px) 100vw, 497px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1556\" height=\"617\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-computer-screen-ai-generated-content-3.jpeg\" alt=\"A graph on a computer screen\n\nAI-generated content may be incorrect.\" class=\"wp-image-74415\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-computer-screen-ai-generated-content-3.jpeg 1556w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-computer-screen-ai-generated-content-3-300x119.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-computer-screen-ai-generated-content-3-1024x406.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-computer-screen-ai-generated-content-3-768x305.jpeg 768w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-computer-screen-ai-generated-content-3-1536x609.jpeg 1536w\" sizes=\"(max-width: 1556px) 100vw, 1556px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\">(Source: Bloomberg)<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><figure><img loading=\"lazy\" decoding=\"async\" width=\"940\" height=\"200\" alt=\"A long line of a flag\n\nDescription automatically generated with medium confidence\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-long-line-of-a-flag-description-automatically-g-13.png\" class=\"wp-image-74416\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-long-line-of-a-flag-description-automatically-g-13.png 940w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-long-line-of-a-flag-description-automatically-g-13-300x64.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-long-line-of-a-flag-description-automatically-g-13-768x163.png 768w\" sizes=\"(max-width: 940px) 100vw, 940px\" \/><\/figure><strong> <\/strong><\/h3>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>\u963f\u6ce2\u7f57\u5168\u7403\u7ba1\u7406 (APO US): \u91cd\u65b0\u5b9a\u4e49401(k)\u9000\u4f11\u89c4\u5219<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a140 \u76ee\u6807\u4ef7\uff1a156 \u6b62\u635f\u4ef7\uff1a132<\/strong><br>  <\/li>\n\n\n\n<li>\u963f\u6ce2\u7f57\u5168\u7403\u7ba1\u7406\u662f\u4e00\u5bb6\u8d44\u4ea7\u7ba1\u7406\u516c\u53f8\uff0c\u4e13\u6ce8\u4e8e\u6295\u8d44\u6536\u76ca\u3001\u6df7\u5408\u548c\u80a1\u7968\u5e02\u573a\uff0c\u4ee5\u751f\u6210\u9000\u4f11\u548c\u6295\u8d44\u6536\u5165\u3002\u963f\u6ce2\u7f57\u5168\u7403\u7ba1\u7406\u4e3a\u5168\u7403\u7684\u4f01\u4e1a\u548c\u4e2a\u4eba\u63d0\u4f9b\u670d\u52a1\u3002<br>  <\/li>\n\n\n\n<li><strong>\u901a\u8fc7Athene\u7684\u9000\u4f11\u8d44\u672c\u98de\u8f6e\u3002<\/strong>\u65b0\u7684\u7279\u6717\u666e\u653f\u7b56\u4f7f401(k)\u8ba1\u5212\u80fd\u591f\u76f4\u63a5\u5305\u542b\u66ff\u4ee3\u8d44\u4ea7\uff0c\u652f\u6301\u963f\u6ce2\u7f57\u7684\u7efc\u5408\u6a21\u578b\u3002Athene\u7684\u8d85\u8fc74000\u4ebf\u7f8e\u5143\u9000\u4f11\u8d44\u672c\u57fa\u7840\u4e3a\u79c1\u4eba\u4fe1\u8d37\u548c\u5b9e\u7269\u8d44\u4ea7\u7b56\u7565\u63d0\u4f9b\u8d44\u91d1\u5f15\u64ce\u3002\u901a\u8fc7\u521b\u5efa\u7b26\u5408401(k)\u8981\u6c42\u7684\u4ea7\u54c1\uff0c\u5c06\u53c2\u4e0e\u8005\u7684\u8d21\u732e\u5f15\u5bfc\u81f3\u9ad8\u6536\u76ca\u3001\u957f\u671f\u7684\u79c1\u4eba\u5e02\u573a\u6295\u8d44\uff0c\u963f\u6ce2\u7f57\u53ef\u4ee5\u663e\u8457\u6269\u5927\u5176\u5206\u9500\u6e20\u9053\uff0c\u4e0d\u518d\u5c40\u9650\u4e8e\u673a\u6784\u5ba2\u6237\u3002\u968f\u7740\u5229\u7387\u9010\u6e10\u4e0b\u964d\uff0c\u8fd9\u4e9b\u9ad8\u56de\u62a5\u3001\u4f4e\u76f8\u5173\u6027\u7684\u7b56\u7565\u5c06\u66f4\u5177\u5438\u5f15\u529b\uff0c\u963f\u6ce2\u7f57\u80fd\u591f\u5c06\u53ef\u9884\u6d4b\u7684\u9000\u4f11\u8d44\u91d1\u6d41\u4e0e\u6d41\u52a8\u6027\u5dee\u3001\u9ad8\u56de\u62a5\u7684\u7b56\u7565\u76f8\u5339\u914d\uff0c\u4f7f\u5176\u6210\u4e3a\u5bfb\u6c42\u6536\u76ca\u63d0\u5347\u7684\u8ba1\u5212\u8d5e\u52a9\u4eba\u7684\u9996\u9009\u3002<br>  <\/li>\n\n\n\n<li><strong>\u79c1\u52df\u4fe1\u8d37\u4e0e\u5e76\u8d2d\u9a71\u52a8\u7684\u589e\u957f\u3002<\/strong>\u963f\u6ce2\u7f57\u7684\u79c1\u52df\u4fe1\u8d37\u5e73\u53f0\u662f\u5168\u7403\u6700\u5927\u7684\u4e4b\u4e00\uff0c\u4f7f\u5176\u6210\u4e3a\u5927\u89c4\u6a21\u3001\u8d44\u672c\u5bc6\u96c6\u578b\u4ea4\u6613\u7684\u81ea\u7136\u878d\u8d44\u8005\uff0c\u8fd9\u4e9b\u4ea4\u6613\u53ef\u80fd\u5728\u9000\u4f11\u8d44\u672c\u8fdb\u5165\u66ff\u4ee3\u5e02\u573a\u65f6\u83b7\u5f97\u5173\u6ce8\u3002\u517615\u4ebf\u7f8e\u5143\u6536\u8d2dBridge Investment Group\u5c06\u623f\u5730\u4ea7\u4fe1\u8d37\u80fd\u529b\u6269\u5c55\u5230\u8d85\u8fc71100\u4ebf\u7f8e\u5143\u7684\u8d44\u4ea7\u7ba1\u7406\u89c4\u6a21\uff0c\u540c\u65f6\u5176\u5728Stream Data Centres\u7684\u80a1\u4efd\u4e3a\u84ec\u52c3\u53d1\u5c55\u7684\u4eba\u5de5\u667a\u80fd\u548c\u6570\u5b57\u57fa\u7840\u8bbe\u65bd\u884c\u4e1a\u521b\u9020\u4e86\u76f4\u63a5\u6e20\u9053\u3002\u8fd9\u79cd\u89c4\u6a21\u3001\u884c\u4e1a\u591a\u6837\u6027\u548c\u4ea7\u54c1\u9002\u5e94\u6027\u7684\u7ed3\u5408\u4f7f\u963f\u6ce2\u7f57\u80fd\u591f\u8bbe\u8ba1\u6ee1\u8db3401(k)\u8ba1\u5212\u91c7\u7528\u7684\u6d41\u52a8\u6027\u3001\u900f\u660e\u5ea6\u548c\u6cbb\u7406\u6807\u51c6\u7684\u4ea7\u54c1\u3002<br>  <\/li>\n\n\n\n<li><strong>2025\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u6536\u76ca\u56de\u987e\u3002<\/strong>\u6536\u5165\u540c\u6bd4\u589e\u957f13.1%\uff0c\u8fbe\u523068.1\u4ebf\u7f8e\u5143\u3002\u975eGAAP\u6bcf\u80a1\u6536\u76ca\u4e3a1.92\u7f8e\u5143\uff0c\u8d85\u51fa\u9884\u671f0.08\u7f8e\u5143\u3002\u516c\u53f8\u5ba3\u5e03\u4e3a\u7b2c\u4e8c\u5b63\u5ea6\u6d3e\u53d1\u6bcf\u80a10.51\u7f8e\u5143\u7684\u73b0\u91d1\u7ea2\u5229\uff0c\u5c06\u4e8e2025\u5e748\u670829\u65e5\u652f\u4ed8\u3002<br>  <\/li>\n\n\n\n<li><strong>\u5e02\u573a\u5171\u8bc6<\/strong><\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"497\" height=\"106\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-blue-and-white-rectangular-object-with-numbers-31.png\" alt=\"A blue and white rectangular object with numbers\n\nAI-generated content may be incorrect.\" class=\"wp-image-74417\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-blue-and-white-rectangular-object-with-numbers-31.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-blue-and-white-rectangular-object-with-numbers-31-300x64.png 300w\" sizes=\"(max-width: 497px) 100vw, 497px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1556\" height=\"617\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-screen-ai-generated-content-may-be-i-23.jpeg\" alt=\"A graph on a screen\n\nAI-generated content may be incorrect.\" class=\"wp-image-74418\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-screen-ai-generated-content-may-be-i-23.jpeg 1556w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-screen-ai-generated-content-may-be-i-23-300x119.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-screen-ai-generated-content-may-be-i-23-1024x406.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-screen-ai-generated-content-may-be-i-23-768x305.jpeg 768w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-screen-ai-generated-content-may-be-i-23-1536x609.jpeg 1536w\" sizes=\"(max-width: 1556px) 100vw, 1556px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\">(Source: Bloomberg)<a id=\"post-74359-_Hlt181111973\"><\/a><a id=\"post-74359-_Hlt181111974\"><\/a><\/p>\n\n\n\n<p class=\"has-text-align-right wp-block-paragraph\"><a href=\"#top\" title=\"\">^ Back To Top<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><a id=\"post-74359-_va9jaog5jnw3\"><\/a><figure><img loading=\"lazy\" decoding=\"async\" width=\"637\" height=\"135\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74359-28.png\" class=\"wp-image-74419\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74359-28.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74359-28-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure><\/h3>\n\n\n\n<figure class=\"wp-block-image\" id=\"td\"><img loading=\"lazy\" decoding=\"async\" width=\"602\" height=\"128\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74359-29.png\" alt=\"\" class=\"wp-image-74420\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74359-29.png 602w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74359-29-300x64.png 300w\" sizes=\"(max-width: 602px) 100vw, 602px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Trading Dashboard Update: <\/strong>Add MoneyMax Financial Services Ltd (MMFS SP) at S$0.68, Sands China Ltd (1928 HK) at HK$19.9 and Apollo Global Management Inc (APO US) at US$140.\n<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"943\" height=\"562\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74359-30.png\" alt=\"\" class=\"wp-image-74421\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74359-30.png 943w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74359-30-300x179.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-74359-30-768x458.png 768w\" sizes=\"(max-width: 943px) 100vw, 943px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><a id=\"post-71807-_tiry8p5xvcqk\"><\/a><\/h3>\n\n\n\n<div class=\"wp-block-uagb-separator uagb-block-ed4e1152\"><div class=\"wp-block-uagb-separator__inner\" style=\"--my-background-image:\"><\/div><\/div>\n\n\n\n<div class=\"wp-block-uagb-separator uagb-block-075e5b76\"><div class=\"wp-block-uagb-separator__inner\" style=\"--my-background-image:\"><\/div><\/div>\n\n\n\n<div class=\"wp-block-uagb-separator uagb-block-0ad8dd24\"><div class=\"wp-block-uagb-separator__inner\" style=\"--my-background-image:\"><\/div><\/div>\n\n\n\n<div class=\"wp-block-uagb-buttons uagb-buttons__outer-wrap uagb-btn__default-btn uagb-btn-tablet__default-btn uagb-btn-mobile__default-btn uagb-block-dc1bd65c\"><div class=\"uagb-buttons__wrap uagb-buttons-layout-wrap \">\n<div class=\"wp-block-uagb-buttons-child uagb-buttons__outer-wrap uagb-block-2f4e392f wp-block-button\"><div class=\"uagb-button__wrapper\"><a class=\"uagb-buttons-repeater wp-block-button__link\" aria-label=\"\" href=\"https:\/\/www.kgieworld.sg\/securities\/contact-us\" rel=\"follow noopener\" target=\"_self\" role=\"button\"><div class=\"uagb-button__link\">\u8054\u7cfb\u6211\u4eec\u4e86\u89e3\u66f4\u591a\u4fe1\u606f<\/div><\/a><\/div><\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-uagb-separator uagb-block-4467fd1f\"><div class=\"wp-block-uagb-separator__inner\" style=\"--my-background-image:\"><\/div><\/div>\n\n\n\n<div class=\"wp-block-uagb-separator uagb-block-fdd2c8c4\"><div class=\"wp-block-uagb-separator__inner\" style=\"--my-background-image:\"><\/div><\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><a id=\"post-56747-_fginbsn8cd1z\"><\/a><\/h3>\n\n\n\n<div class=\"wp-block-uagb-separator uagb-block-27ad8851\"><div class=\"wp-block-uagb-separator__inner\" style=\"--my-background-image:\"><\/div><\/div>\n\n\n\n<div class=\"wp-block-uagb-image uagb-block-62b24b08 wp-block-uagb-image--layout-default wp-block-uagb-image--effect-static wp-block-uagb-image--align-none\"><figure class=\"wp-block-uagb-image__figure\"><a class=\"\" href=\"https:\/\/www.whatsapp.com\/channel\/0029VayhkxMChq6JN6qO8x0B\" target=\"\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/1-1.png ,https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/1-1.png 780w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/1-1.png 360w\" sizes=\"auto, (max-width: 480px) 150px\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/1-1.png\" alt=\"\" class=\"uag-image-69995\" width=\"760\" height=\"208\" title=\"1\" loading=\"lazy\" role=\"img\"\/><\/a><\/figure><\/div>\n\n\n\n<div class=\"wp-block-uagb-image uagb-block-82e9f322 wp-block-uagb-image--layout-default wp-block-uagb-image--effect-static wp-block-uagb-image--align-none\"><figure class=\"wp-block-uagb-image__figure\"><a class=\"\" href=\"https:\/\/t.me\/kgisg\" target=\"\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/2.png ,https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/2.png 780w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/2.png 360w\" sizes=\"auto, (max-width: 480px) 150px\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/2.png\" alt=\"\" class=\"uag-image-69996\" width=\"760\" height=\"208\" title=\"2\" loading=\"lazy\" role=\"img\"\/><\/a><\/figure><\/div>\n\n\n\n<p class=\"wp-block-paragraph\"><a id=\"post-56591-_tiry8p5xvcqk\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u65b0\u52a0\u5761\u80a1\u7968\u63a8\u8350 | \u9999\u6e2f\u80a1\u7968\u63a8\u8350 | \u7f8e\u80a1\u63a8\u8350 | \u884c\u4e1a\u677f\u5757\u8868\u73b0 | \u4ea4\u6613\u9f99\u864e\u699c \u7f8e\u56fd \u9999\u6e2f ^ Back To Top \u4ec1\u6052\u7f6e\u5730 (YLLG SP)\uff1a\u8fdb\u4e00\u6b65\u5e72\u9884\u4ee5\u590d\u5174\u623f\u5730\u4ea7\u5e02\u573a (Source: Bloomberg) \u94f6\u4e30\u91d1\u878d (MMFS SP)\uff1a\u53d7\u76ca\u4e8e\u9ec4\u91d1\u4e0a\u6da8 (Source: Bloomberg) \u4e2d\u56fd\u56fd\u9645\u8d44\u672c (3908 HK)\uff1a\u5168\u7403\u8d44\u672c\u6d41\u52a8\u53d8\u5316\u7684\u53d7\u76ca\u8005 \u8d44\u91d1\u6d41\u52a8 \u2013 \u4e2d\u56fd (Source: Bloomberg) (Source: Bloomberg) \u91d1\u6c99\u4e2d\u56fd (1928 HK)\uff1a\u6fb3\u95e8\u65c5\u6e38\u6c34\u5e73\u5f3a\u52b2 (Source: Bloomberg) \u8d1d\u83b1\u5fb7\u96c6\u56e2(BLK US): \u5229\u7528\u653f\u7b56\u53d8\u5316\u4e3b\u5bfc\u9000\u4f11\u66ff\u4ee3\u54c1 (Source: Bloomberg) \u963f\u6ce2\u7f57\u5168\u7403\u7ba1\u7406 (APO US): \u91cd\u65b0\u5b9a\u4e49401(k)\u9000\u4f11\u89c4\u5219 (Source: Bloomberg) ^ Back To Top [&hellip;]<\/p>\n","protected":false},"author":16,"featured_media":38071,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","_uag_custom_page_level_css":"","footnotes":""},"categories":[13],"tags":[],"class_list":["post-74359","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-kgi-daily-trading-ideas-chinese"],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 4.9.8 - aioseo.com -->\n\t<meta name=\"description\" content=\"\u65b0\u52a0\u5761\u80a1\u7968\u63a8\u8350 | \u9999\u6e2f\u80a1\u7968\u63a8\u8350 | \u7f8e\u80a1\u63a8\u8350 | \u884c\u4e1a\u677f\u5757\u8868\u73b0 | \u4ea4\u6613\u9f99\u864e\u699c \u7f8e\u56fd \u9999\u6e2f ^ Back To Top \u4ec1\u6052\u7f6e\u5730 (YLLG 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2025\u5e74\u4e0a\u534a\u5e74\u4e1a\u7ee9\u56de\u987e\u3002\u4ec1\u6052\u62a5\u544a2025\u5e74\u4e0a\u534a\u5e74\u6536\u5165\u4e3a92\u4ebf\u4eba\u6c11\u5e01\uff0c\u8f832024\u5e74\u4e0a\u534a\u5e74\u7684200\u4ebf\u4eba\u6c11\u5e01\u4e0b\u964d53.5%\u30022025\u5e74\u4e0a\u534a\u5e74\u6bcf\u80a1\u6536\u76ca\u4e3a0.1963\u65b0\u52a0\u5761\u5143\uff0c\u626d\u8f6c\u4e862024\u5e74\u4e0a\u534a\u5e74\u76840.2516\u65b0\u52a0\u5761\u5143\u4e8f\u635f\u3002 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u94f6\u4e30\u91d1\u878d (MMFS SP)\uff1a\u53d7\u76ca\u4e8e\u9ec4\u91d1\u4e0a\u6da8 \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.68\uff0c\u76ee\u6807\u4ef7\uff1a0.76\uff0c\u6b62\u635f\u4ef7\uff1a0.64 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\u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u4e2d\u56fd\u56fd\u9645\u8d44\u672c (3908 HK)\uff1a\u5168\u7403\u8d44\u672c\u6d41\u52a8\u53d8\u5316\u7684\u53d7\u76ca\u8005 \u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a21.0\uff0c\u76ee\u6807\u4ef7\uff1a24.0\uff0c\u6b62\u635f\u4ef7\uff1a19.5 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\u8d44\u91d1\u6d41\u52a8 - \u4e2d\u56fd (Source: Bloomberg) \u91d1\u6c99\u4e2d\u56fd (1928 HK)\uff1a\u6fb3\u95e8\u65c5\u6e38\u6c34\u5e73\u5f3a\u52b2 \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a19.9\uff0c\u76ee\u6807\u4ef7\uff1a22.7\uff0c\u6b62\u635f\u4ef7\uff1a18.5 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\/>\n\t<meta name=\"robots\" content=\"max-image-preview:large\" \/>\n\t<meta name=\"author\" content=\"Jiong Han Lee\"\/>\n\t<meta name=\"keywords\" content=\"kgi daily trading ideas (chinese)\" \/>\n\t<link rel=\"canonical\" href=\"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-18-aug-2025-zh\/\" \/>\n\t<meta name=\"generator\" content=\"All in One SEO (AIOSEO) 4.9.8\" \/>\n\t\t<meta property=\"og:locale\" content=\"en_US\" \/>\n\t\t<meta property=\"og:site_name\" content=\"KGI Singapore Research \u2022 Singapore&#039;s leading broker offering Futures, FX, Equities and Wealth Management.\" \/>\n\t\t<meta property=\"og:type\" content=\"article\" \/>\n\t\t<meta property=\"og:title\" content=\"\u4eca\u65e5\u7cbe\u9009\uff1a\u80a1\u7968 | 2025\u5e748\u670818\u65e5: \u2022 KGI Singapore Research\" \/>\n\t\t<meta property=\"og:description\" content=\"\u65b0\u52a0\u5761\u80a1\u7968\u63a8\u8350 | \u9999\u6e2f\u80a1\u7968\u63a8\u8350 | \u7f8e\u80a1\u63a8\u8350 | \u884c\u4e1a\u677f\u5757\u8868\u73b0 | \u4ea4\u6613\u9f99\u864e\u699c \u7f8e\u56fd \u9999\u6e2f ^ Back To Top \u4ec1\u6052\u7f6e\u5730 (YLLG SP)\uff1a\u8fdb\u4e00\u6b65\u5e72\u9884\u4ee5\u590d\u5174\u623f\u5730\u4ea7\u5e02\u573a \u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.60\uff0c\u76ee\u6807\u4ef7\uff1a0.66\uff0c\u6b62\u635f\u4ef7\uff1a0.57 \u4ec1\u6052\u7f6e\u5730\u96c6\u56e2\u6709\u9650\u516c\u53f8\u662f\u4e00\u5bb6\u623f\u5730\u4ea7\u5f00\u53d1\u516c\u53f8\u3002\u516c\u53f8\u5728\u4e2d\u534e\u4eba\u6c11\u5171\u548c\u56fd\u5f00\u53d1\u9ad8\u7aef\u4f4f\u5b85\u7269\u4e1a\u9879\u76ee\u3002 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\u653f\u7b56\u652f\u6301\u4e0e\u5e02\u573a\u7a33\u5b9a\u3002\u4e2d\u56fd\u623f\u5730\u4ea7\u884c\u4e1a\u4ecd\u5904\u4e8e\u957f\u671f\u4f4e\u8ff7\u4e2d\uff0c\u4f46\u8fd1\u671f\u653f\u5e9c\u7684\u884c\u52a8\u53ef\u80fd\u52a0\u901f\u5e02\u573a\u7a33\u5b9a\u3002\u76d1\u7ba1\u673a\u6784\u6b63\u51c6\u5907\u52a8\u5458\u4e2d\u592e\u56fd\u6709\u4f01\u4e1a\u548c\u4e0d\u826f\u503a\u52a1\u7ba1\u7406\u516c\u53f8\uff0c\u5305\u62ec\u4e2d\u56fd\u4fe1\u8fbe\u8d44\u4ea7\u7ba1\u7406\uff0c\u8d2d\u4e70\u672a\u552e\u51fa\u7684\u4f4f\u623f\u5e93\u5b58\uff0c\u5229\u75283000\u4ebf\u4eba\u6c11\u5e01\u7684\u592e\u884c\u8d44\u91d1\u3002\u53d6\u6d88\u4ef7\u683c\u4e0a\u9650\u5e76\u5f15\u5165\u8d44\u91d1\u5145\u8db3\u7684\u56fd\u6709\u5b9e\u4f53\uff0c\u53ef\u80fd\u6539\u5584\u8be5\u8ba1\u5212\u7684\u7ecf\u6d4e\u6548\u76ca\uff0c\u5e76\u52a0\u901f\u5168\u56fd\u7ea66000\u4e07\u5957\u672a\u552e\u516c\u5bd3\u7684\u6e05\u7406\u3002\u5bf9\u4e8e\u9879\u76ee\u96c6\u4e2d\u5728\u4f18\u8d28\u57ce\u5e02\u5730\u70b9\u7684\u4ec1\u6052\u800c\u8a00\uff0c\u8fd9\u79cd\u534f\u8c03\u5e72\u9884\uff0c\u52a0\u4e0a\u9500\u552e\u4e0b\u964d\u7684\u521d\u6b65\u7f13\u548c\u8ff9\u8c61\uff0c\u53ef\u80fd\u6709\u52a9\u4e8e\u57282026-2027\u5e74\u95f4\u7ef4\u6301\u76c8\u5229\u80fd\u529b\uff0c\u5c3d\u7ba1\u590d\u82cf\u9884\u8ba1\u5c06\u662f\u6e10\u8fdb\u7684\uff0c\u4e14\u6267\u884c\u98ce\u9669\u4ecd\u7136\u5b58\u5728\u3002 2025\u5e74\u4e0a\u534a\u5e74\u4e1a\u7ee9\u56de\u987e\u3002\u4ec1\u6052\u62a5\u544a2025\u5e74\u4e0a\u534a\u5e74\u6536\u5165\u4e3a92\u4ebf\u4eba\u6c11\u5e01\uff0c\u8f832024\u5e74\u4e0a\u534a\u5e74\u7684200\u4ebf\u4eba\u6c11\u5e01\u4e0b\u964d53.5%\u30022025\u5e74\u4e0a\u534a\u5e74\u6bcf\u80a1\u6536\u76ca\u4e3a0.1963\u65b0\u52a0\u5761\u5143\uff0c\u626d\u8f6c\u4e862024\u5e74\u4e0a\u534a\u5e74\u76840.2516\u65b0\u52a0\u5761\u5143\u4e8f\u635f\u3002 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u94f6\u4e30\u91d1\u878d (MMFS SP)\uff1a\u53d7\u76ca\u4e8e\u9ec4\u91d1\u4e0a\u6da8 \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.68\uff0c\u76ee\u6807\u4ef7\uff1a0.76\uff0c\u6b62\u635f\u4ef7\uff1a0.64 \u94f6\u4e30\u91d1\u878d\u670d\u52a1\u6709\u9650\u516c\u53f8\u901a\u8fc7\u5178\u5f53\u3001\u96f6\u552e\u548c\u4ea4\u6613\u4e8c\u624b\u73e0\u5b9d\u53ca\u624b\u8868\u63d0\u4f9b\u91d1\u878d\u670d\u52a1\u3002\u516c\u53f8\u5728\u65b0\u52a0\u5761\u5404\u5730\u62e5\u6709\u548c\u8fd0\u8425\u591a\u5bb6\u95e8\u5e97\u3002 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\u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u4e2d\u56fd\u56fd\u9645\u8d44\u672c (3908 HK)\uff1a\u5168\u7403\u8d44\u672c\u6d41\u52a8\u53d8\u5316\u7684\u53d7\u76ca\u8005 \u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a21.0\uff0c\u76ee\u6807\u4ef7\uff1a24.0\uff0c\u6b62\u635f\u4ef7\uff1a19.5 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\u8d44\u91d1\u6d41\u52a8 - \u4e2d\u56fd (Source: Bloomberg) \u91d1\u6c99\u4e2d\u56fd (1928 HK)\uff1a\u6fb3\u95e8\u65c5\u6e38\u6c34\u5e73\u5f3a\u52b2 \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a19.9\uff0c\u76ee\u6807\u4ef7\uff1a22.7\uff0c\u6b62\u635f\u4ef7\uff1a18.5 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\/>\n\t\t<meta property=\"og:url\" content=\"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-18-aug-2025-zh\/\" \/>\n\t\t<meta property=\"og:image\" content=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/04\/KGI-Logo_\u255b\u03b5ai\u252c\u253carRGB_PNG.png?wsr\" \/>\n\t\t<meta property=\"og:image:secure_url\" content=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/04\/KGI-Logo_\u255b\u03b5ai\u252c\u253carRGB_PNG.png?wsr\" \/>\n\t\t<meta property=\"article:published_time\" content=\"2025-08-17T17:21:34+00:00\" \/>\n\t\t<meta property=\"article:modified_time\" content=\"2025-08-17T17:21:35+00:00\" \/>\n\t\t<meta name=\"twitter:card\" content=\"summary\" \/>\n\t\t<meta name=\"twitter:title\" content=\"\u4eca\u65e5\u7cbe\u9009\uff1a\u80a1\u7968 | 2025\u5e748\u670818\u65e5: \u2022 KGI Singapore Research\" \/>\n\t\t<meta name=\"twitter:description\" content=\"\u65b0\u52a0\u5761\u80a1\u7968\u63a8\u8350 | \u9999\u6e2f\u80a1\u7968\u63a8\u8350 | \u7f8e\u80a1\u63a8\u8350 | \u884c\u4e1a\u677f\u5757\u8868\u73b0 | \u4ea4\u6613\u9f99\u864e\u699c \u7f8e\u56fd \u9999\u6e2f ^ Back To Top \u4ec1\u6052\u7f6e\u5730 (YLLG SP)\uff1a\u8fdb\u4e00\u6b65\u5e72\u9884\u4ee5\u590d\u5174\u623f\u5730\u4ea7\u5e02\u573a \u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.60\uff0c\u76ee\u6807\u4ef7\uff1a0.66\uff0c\u6b62\u635f\u4ef7\uff1a0.57 \u4ec1\u6052\u7f6e\u5730\u96c6\u56e2\u6709\u9650\u516c\u53f8\u662f\u4e00\u5bb6\u623f\u5730\u4ea7\u5f00\u53d1\u516c\u53f8\u3002\u516c\u53f8\u5728\u4e2d\u534e\u4eba\u6c11\u5171\u548c\u56fd\u5f00\u53d1\u9ad8\u7aef\u4f4f\u5b85\u7269\u4e1a\u9879\u76ee\u3002 \u76c8\u5229\u80fd\u529b\u7684\u9006\u8f6c\uff0c\u5f97\u76ca\u4e8e\u9ad8\u5229\u6da6\u4ea4\u4ed8\u3002\u4ec1\u6052\u7f6e\u5730\u57282025\u5e74\u4e0a\u534a\u5e74\u5b9e\u73b0\u51c0\u5229\u6da63.792\u4ebf\u4eba\u6c11\u5e01\uff0c\u626d\u8f6c\u4e86\u53bb\u5e74\u540c\u671f\u76844.86\u4ebf\u4eba\u6c11\u5e01\u4e8f\u635f\u3002\u5229\u6da6\u7684\u6539\u5584\u5f97\u76ca\u4e8e\u6218\u7565\u8f6c\u5411\u4ea4\u4ed8\u9ad8\u5229\u6da6\u7684\u5f00\u53d1\u9879\u76ee\uff0c\u4ee5\u53ca\u51cf\u5c11\u5bf9\u5df2\u5b8c\u5de5\u548c\u5728\u5efa\u7269\u4e1a\u7684\u51cf\u503c\u3002\u5c3d\u7ba1\u7531\u4e8e\u4ea4\u4ed8\u7684\u5efa\u7b51\u9762\u79ef\u51cf\u5c11\uff0c\u6536\u5165\u540c\u6bd4\u4e0b\u964d53.5%\uff0c\u964d\u81f393\u4ebf\u4eba\u6c11\u5e01\uff0c\u4f46\u6bcf\u80a1\u6536\u76ca\u4ece\u4e8f\u635f\u76840.2516\u65b0\u52a0\u5761\u5143\u53cd\u5f39\u81f30.1963\u65b0\u52a0\u5761\u5143\u3002\u8fd9\u4e00\u76c8\u5229\u590d\u82cf\uff0c\u5c3d\u7ba1\u8425\u6536\u8868\u73b0\u8f83\u5f31\uff0c\u8868\u660e\u6210\u672c\u63a7\u5236\u548c\u6295\u8d44\u7ec4\u5408\u4f18\u5316\u6709\u6240\u6539\u5584\u3002 \u653f\u7b56\u652f\u6301\u4e0e\u5e02\u573a\u7a33\u5b9a\u3002\u4e2d\u56fd\u623f\u5730\u4ea7\u884c\u4e1a\u4ecd\u5904\u4e8e\u957f\u671f\u4f4e\u8ff7\u4e2d\uff0c\u4f46\u8fd1\u671f\u653f\u5e9c\u7684\u884c\u52a8\u53ef\u80fd\u52a0\u901f\u5e02\u573a\u7a33\u5b9a\u3002\u76d1\u7ba1\u673a\u6784\u6b63\u51c6\u5907\u52a8\u5458\u4e2d\u592e\u56fd\u6709\u4f01\u4e1a\u548c\u4e0d\u826f\u503a\u52a1\u7ba1\u7406\u516c\u53f8\uff0c\u5305\u62ec\u4e2d\u56fd\u4fe1\u8fbe\u8d44\u4ea7\u7ba1\u7406\uff0c\u8d2d\u4e70\u672a\u552e\u51fa\u7684\u4f4f\u623f\u5e93\u5b58\uff0c\u5229\u75283000\u4ebf\u4eba\u6c11\u5e01\u7684\u592e\u884c\u8d44\u91d1\u3002\u53d6\u6d88\u4ef7\u683c\u4e0a\u9650\u5e76\u5f15\u5165\u8d44\u91d1\u5145\u8db3\u7684\u56fd\u6709\u5b9e\u4f53\uff0c\u53ef\u80fd\u6539\u5584\u8be5\u8ba1\u5212\u7684\u7ecf\u6d4e\u6548\u76ca\uff0c\u5e76\u52a0\u901f\u5168\u56fd\u7ea66000\u4e07\u5957\u672a\u552e\u516c\u5bd3\u7684\u6e05\u7406\u3002\u5bf9\u4e8e\u9879\u76ee\u96c6\u4e2d\u5728\u4f18\u8d28\u57ce\u5e02\u5730\u70b9\u7684\u4ec1\u6052\u800c\u8a00\uff0c\u8fd9\u79cd\u534f\u8c03\u5e72\u9884\uff0c\u52a0\u4e0a\u9500\u552e\u4e0b\u964d\u7684\u521d\u6b65\u7f13\u548c\u8ff9\u8c61\uff0c\u53ef\u80fd\u6709\u52a9\u4e8e\u57282026-2027\u5e74\u95f4\u7ef4\u6301\u76c8\u5229\u80fd\u529b\uff0c\u5c3d\u7ba1\u590d\u82cf\u9884\u8ba1\u5c06\u662f\u6e10\u8fdb\u7684\uff0c\u4e14\u6267\u884c\u98ce\u9669\u4ecd\u7136\u5b58\u5728\u3002 2025\u5e74\u4e0a\u534a\u5e74\u4e1a\u7ee9\u56de\u987e\u3002\u4ec1\u6052\u62a5\u544a2025\u5e74\u4e0a\u534a\u5e74\u6536\u5165\u4e3a92\u4ebf\u4eba\u6c11\u5e01\uff0c\u8f832024\u5e74\u4e0a\u534a\u5e74\u7684200\u4ebf\u4eba\u6c11\u5e01\u4e0b\u964d53.5%\u30022025\u5e74\u4e0a\u534a\u5e74\u6bcf\u80a1\u6536\u76ca\u4e3a0.1963\u65b0\u52a0\u5761\u5143\uff0c\u626d\u8f6c\u4e862024\u5e74\u4e0a\u534a\u5e74\u76840.2516\u65b0\u52a0\u5761\u5143\u4e8f\u635f\u3002 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u94f6\u4e30\u91d1\u878d (MMFS SP)\uff1a\u53d7\u76ca\u4e8e\u9ec4\u91d1\u4e0a\u6da8 \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.68\uff0c\u76ee\u6807\u4ef7\uff1a0.76\uff0c\u6b62\u635f\u4ef7\uff1a0.64 \u94f6\u4e30\u91d1\u878d\u670d\u52a1\u6709\u9650\u516c\u53f8\u901a\u8fc7\u5178\u5f53\u3001\u96f6\u552e\u548c\u4ea4\u6613\u4e8c\u624b\u73e0\u5b9d\u53ca\u624b\u8868\u63d0\u4f9b\u91d1\u878d\u670d\u52a1\u3002\u516c\u53f8\u5728\u65b0\u52a0\u5761\u5404\u5730\u62e5\u6709\u548c\u8fd0\u8425\u591a\u5bb6\u95e8\u5e97\u3002 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\u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u4e2d\u56fd\u56fd\u9645\u8d44\u672c (3908 HK)\uff1a\u5168\u7403\u8d44\u672c\u6d41\u52a8\u53d8\u5316\u7684\u53d7\u76ca\u8005 \u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a21.0\uff0c\u76ee\u6807\u4ef7\uff1a24.0\uff0c\u6b62\u635f\u4ef7\uff1a19.5 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\u8d44\u91d1\u6d41\u52a8 - \u4e2d\u56fd (Source: Bloomberg) \u91d1\u6c99\u4e2d\u56fd (1928 HK)\uff1a\u6fb3\u95e8\u65c5\u6e38\u6c34\u5e73\u5f3a\u52b2 \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a19.9\uff0c\u76ee\u6807\u4ef7\uff1a22.7\uff0c\u6b62\u635f\u4ef7\uff1a18.5 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\u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u4e2d\u56fd\u56fd\u9645\u8d44\u672c (3908 HK)\uff1a\u5168\u7403\u8d44\u672c\u6d41\u52a8\u53d8\u5316\u7684\u53d7\u76ca\u8005 \u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a21.0\uff0c\u76ee\u6807\u4ef7\uff1a24.0\uff0c\u6b62\u635f\u4ef7\uff1a19.5 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\u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u4e2d\u56fd\u56fd\u9645\u8d44\u672c (3908 HK)\uff1a\u5168\u7403\u8d44\u672c\u6d41\u52a8\u53d8\u5316\u7684\u53d7\u76ca\u8005 \u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a21.0\uff0c\u76ee\u6807\u4ef7\uff1a24.0\uff0c\u6b62\u635f\u4ef7\uff1a19.5 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2025\u5e74\u4e0a\u534a\u5e74\u4e1a\u7ee9\u56de\u987e\u3002\u4ec1\u6052\u62a5\u544a2025\u5e74\u4e0a\u534a\u5e74\u6536\u5165\u4e3a92\u4ebf\u4eba\u6c11\u5e01\uff0c\u8f832024\u5e74\u4e0a\u534a\u5e74\u7684200\u4ebf\u4eba\u6c11\u5e01\u4e0b\u964d53.5%\u30022025\u5e74\u4e0a\u534a\u5e74\u6bcf\u80a1\u6536\u76ca\u4e3a0.1963\u65b0\u52a0\u5761\u5143\uff0c\u626d\u8f6c\u4e862024\u5e74\u4e0a\u534a\u5e74\u76840.2516\u65b0\u52a0\u5761\u5143\u4e8f\u635f\u3002 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u94f6\u4e30\u91d1\u878d (MMFS SP)\uff1a\u53d7\u76ca\u4e8e\u9ec4\u91d1\u4e0a\u6da8 \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.68\uff0c\u76ee\u6807\u4ef7\uff1a0.76\uff0c\u6b62\u635f\u4ef7\uff1a0.64 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\u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u4e2d\u56fd\u56fd\u9645\u8d44\u672c (3908 HK)\uff1a\u5168\u7403\u8d44\u672c\u6d41\u52a8\u53d8\u5316\u7684\u53d7\u76ca\u8005 \u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a21.0\uff0c\u76ee\u6807\u4ef7\uff1a24.0\uff0c\u6b62\u635f\u4ef7\uff1a19.5 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\u8d44\u91d1\u6d41\u52a8 - \u4e2d\u56fd (Source: Bloomberg) \u91d1\u6c99\u4e2d\u56fd (1928 HK)\uff1a\u6fb3\u95e8\u65c5\u6e38\u6c34\u5e73\u5f3a\u52b2 \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a19.9\uff0c\u76ee\u6807\u4ef7\uff1a22.7\uff0c\u6b62\u635f\u4ef7\uff1a18.5 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| 2025\u5e748\u670818\u65e5: \u2022 KGI Singapore Research","twitter:description":"\u65b0\u52a0\u5761\u80a1\u7968\u63a8\u8350 | \u9999\u6e2f\u80a1\u7968\u63a8\u8350 | \u7f8e\u80a1\u63a8\u8350 | \u884c\u4e1a\u677f\u5757\u8868\u73b0 | \u4ea4\u6613\u9f99\u864e\u699c \u7f8e\u56fd \u9999\u6e2f ^ Back To Top \u4ec1\u6052\u7f6e\u5730 (YLLG SP)\uff1a\u8fdb\u4e00\u6b65\u5e72\u9884\u4ee5\u590d\u5174\u623f\u5730\u4ea7\u5e02\u573a \u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.60\uff0c\u76ee\u6807\u4ef7\uff1a0.66\uff0c\u6b62\u635f\u4ef7\uff1a0.57 \u4ec1\u6052\u7f6e\u5730\u96c6\u56e2\u6709\u9650\u516c\u53f8\u662f\u4e00\u5bb6\u623f\u5730\u4ea7\u5f00\u53d1\u516c\u53f8\u3002\u516c\u53f8\u5728\u4e2d\u534e\u4eba\u6c11\u5171\u548c\u56fd\u5f00\u53d1\u9ad8\u7aef\u4f4f\u5b85\u7269\u4e1a\u9879\u76ee\u3002 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2025\u5e74\u4e0a\u534a\u5e74\u4e1a\u7ee9\u56de\u987e\u3002\u4ec1\u6052\u62a5\u544a2025\u5e74\u4e0a\u534a\u5e74\u6536\u5165\u4e3a92\u4ebf\u4eba\u6c11\u5e01\uff0c\u8f832024\u5e74\u4e0a\u534a\u5e74\u7684200\u4ebf\u4eba\u6c11\u5e01\u4e0b\u964d53.5%\u30022025\u5e74\u4e0a\u534a\u5e74\u6bcf\u80a1\u6536\u76ca\u4e3a0.1963\u65b0\u52a0\u5761\u5143\uff0c\u626d\u8f6c\u4e862024\u5e74\u4e0a\u534a\u5e74\u76840.2516\u65b0\u52a0\u5761\u5143\u4e8f\u635f\u3002 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u94f6\u4e30\u91d1\u878d (MMFS SP)\uff1a\u53d7\u76ca\u4e8e\u9ec4\u91d1\u4e0a\u6da8 \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a0.68\uff0c\u76ee\u6807\u4ef7\uff1a0.76\uff0c\u6b62\u635f\u4ef7\uff1a0.64 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\u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u4e2d\u56fd\u56fd\u9645\u8d44\u672c (3908 HK)\uff1a\u5168\u7403\u8d44\u672c\u6d41\u52a8\u53d8\u5316\u7684\u53d7\u76ca\u8005 \u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a21.0\uff0c\u76ee\u6807\u4ef7\uff1a24.0\uff0c\u6b62\u635f\u4ef7\uff1a19.5 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