{"id":75306,"date":"2025-08-29T08:44:16","date_gmt":"2025-08-29T00:44:16","guid":{"rendered":"https:\/\/www.kgieworld.sg\/research\/?p=75306"},"modified":"2025-08-29T10:26:13","modified_gmt":"2025-08-29T02:26:13","slug":"kgi-daily-trading-ideas-29-aug-2025-zh","status":"publish","type":"post","link":"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-29-aug-2025-zh\/","title":{"rendered":"\u4eca\u65e5\u7cbe\u9009\uff1a\u80a1\u7968 | 2025\u5e748\u670829\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-75306-_tiry8p5xvcqk\"><\/a>\u7f8e\u56fd<\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"941\" height=\"453\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/image-47.png\" alt=\"\" class=\"wp-image-75398\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/image-47.png 941w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/image-47-300x144.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/image-47-768x370.png 768w\" sizes=\"(max-width: 941px) 100vw, 941px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"939\" height=\"241\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/image-48.png\" alt=\"\" class=\"wp-image-75399\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/image-48.png 939w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/image-48-300x77.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/image-48-768x197.png 768w\" sizes=\"(max-width: 939px) 100vw, 939px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"940\" height=\"290\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/image-49.png\" alt=\"\" class=\"wp-image-75400\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/image-49.png 940w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/image-49-300x93.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/image-49-768x237.png 768w\" sizes=\"(max-width: 940px) 100vw, 940px\" \/><\/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-75306-4.png\" alt=\"\" class=\"wp-image-75342\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-75306-4.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-75306-4-300x64.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-75306-_qqv3rtx8nazp\"><\/a><a id=\"post-75306-_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=\"2179\" height=\"1052\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-screenshot-of-a-computer-ai-generated-content-m-58.png\" alt=\"A screenshot of a computer\n\nAI-generated content may be incorrect.\" class=\"wp-image-75343\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-screenshot-of-a-computer-ai-generated-content-m-58.png 2179w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-screenshot-of-a-computer-ai-generated-content-m-58-300x145.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-screenshot-of-a-computer-ai-generated-content-m-58-1024x494.png 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-screenshot-of-a-computer-ai-generated-content-m-58-768x371.png 768w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-screenshot-of-a-computer-ai-generated-content-m-58-1536x742.png 1536w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-screenshot-of-a-computer-ai-generated-content-m-58-2048x989.png 2048w\" sizes=\"(max-width: 2179px) 100vw, 2179px\" \/><\/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-75306-6.png\" alt=\"\" class=\"wp-image-75344\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-75306-6.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-75306-6-300x64.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-75306-7.png\" class=\"wp-image-75345\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-75306-7.png 602w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-75306-7-300x64.png 300w\" sizes=\"(max-width: 602px) 100vw, 602px\" \/><\/figure><\/h2>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>\u5e03\u7c73\u5854\u739b\u519c\u4e1a(BAL SP): \u5e94\u5bf9\u672a\u6765\u7684\u6ce2\u52a8<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a1.10\uff0c\u76ee\u6807\u4ef7\uff1a1.20\uff0c\u6b62\u635f\u4ef7\uff1a1.05<\/strong><br>  <\/li>\n\n\n\n<li>\u5e03\u7c73\u5854\u739b\u519c\u4e1a\u5728\u5370\u5ea6\u5c3c\u897f\u4e9a\u751f\u4ea7CPO\u548cPK\uff0c\u5176\u6cb9\u68d5 plantations \u4f4d\u4e8e\u8be5\u56fd\u3002\u516c\u53f8\u7684\u4e3b\u8981\u4e1a\u52a1\u6d3b\u52a8\u5305\u62ec\u79cd\u690d\u548c\u91c7\u6536\u6cb9\u68d5\u6811\u3001\u5904\u7406\u6765\u81ea\u6cb9\u68d5 plantations \u7684FFB\u3001\u5176 plasma plantations \u53ca\u7b2c\u4e09\u65b9\u7684CPO\u548cPK\uff0c\u5e76\u5728\u5370\u5ea6\u5c3c\u897f\u4e9a\u9500\u552eCPO\u548cPK\u3002<br>  <\/li>\n\n\n\n<li><strong>\u5f3a\u52b2\u7684\u76c8\u5229\u52bf\u5934\u53d7\u76ca\u4e8e\u5b9a\u4ef7\u80fd\u529b\u3002<\/strong>\u5e03\u7c73\u5854\u739b\u519c\u4e1a\u57282025\u5e74\u4e0a\u534a\u5e74\u8868\u73b0\u51fa\u8272\uff0c\u51c0\u5229\u6da6\u540c\u6bd4\u98d9\u534747.8%\u81f31.27\u4e07\u4ebf\u5370\u5c3c\u5362\u6bd4\uff0c\u5f97\u76ca\u4e8e\u575a\u633a\u7684\u68d5\u6988\u6cb9\u4ef7\u683c\u3002\u5c3d\u7ba1CPO\u9500\u552e\u91cf\u7565\u6709\u4e0b\u964d\uff0c\u6536\u5165\u4ecd\u589e\u957f28.2%\u81f39.74\u4e07\u4ebf\u5370\u5c3c\u5362\u6bd4\uff0c\u51f8\u663e\u4e86\u96c6\u56e2\u5229\u7528\u6709\u5229\u4ef7\u683c\u52a8\u6001\u7684\u80fd\u529b\u3002\u68d5\u6988\u4ec1\u4e1a\u52a1\u8868\u73b0\u7a81\u51fa\uff0c\u6536\u5165\u7ffb\u500d\u589e\u957f\uff0c\u56e0\u4ef7\u683c\u4e0a\u6da8\u548c\u9500\u91cf\u589e\u957f\u63d0\u5347\u4e86\u76c8\u5229\u80fd\u529b\u3002\u6bcf\u80a1\u6536\u76ca\u4ece2024\u5e74\u4e0a\u534a\u5e74\u7684494\u5370\u5c3c\u5362\u6bd4\u8dc3\u5347\u81f3730\u5370\u5c3c\u5362\u6bd4\uff0c\u4f7f\u7ba1\u7406\u5c42\u80fd\u591f\u5c06\u4e2d\u671f\u80a1\u606f\u63d0\u9ad8\u4e09\u500d\u81f3\u6bcf\u80a10.0363\u65b0\u5143\uff0c\u8868\u660e\u5f3a\u52b2\u7684\u73b0\u91d1\u751f\u6210\u80fd\u529b\u548c\u5bf9\u8d44\u4ea7\u8d1f\u503a\u8868\u5f3a\u5ea6\u7684\u4fe1\u5fc3\u3002<br>  <\/li>\n\n\n\n<li><strong>\u51fa\u53e3\u5e26\u6765\u7684\u884c\u4e1a\u5229\u597d\u3002<\/strong>\u5370\u5ea6\u5c3c\u897f\u4e9a\u7684\u68d5\u6988\u6cb9\u884c\u4e1a\u6b63\u4eab\u53d7\u5f3a\u52b2\u7684\u51fa\u53e3\u589e\u957f\uff0c\u5f97\u76ca\u4e8e\u5168\u7403\u9700\u6c42\u4e0a\u5347\u548c\u6b27\u76df\u8d38\u6613\u9650\u5236\u7684\u653e\u5bbd\u3002\u56fd\u5bb6\u51fa\u53e3\u57282025\u5e74\u4e0a\u534a\u5e74\u540c\u6bd4\u6fc0\u589e\u8fd125%\uff0c\u8fbe\u5230114\u4ebf\u7f8e\u5143\uff0c\u5e73\u5747\u5b9e\u73b0\u4ef7\u683c\u4e0a\u6da822%\u3002\u6700\u8fd1\u4e16\u8d38\u7ec4\u7ec7\u5bf9\u5370\u5ea6\u5c3c\u897f\u4e9a\u6709\u5229\u7684\u88c1\u51b3\uff0c\u9488\u5bf9\u6b27\u76df\u751f\u7269\u67f4\u6cb9\u5173\u7a0e\uff0c\u4ee5\u53ca\u9884\u8ba1\u4e8e2026\u5e74\u6388\u4e88\u6b27\u76df\u6bcf\u5e74100\u4e07\u5428\u514d\u7a0e\u68d5\u6988\u6cb9\u51fa\u53e3\u7684CEPA\u8d38\u6613\u534f\u5b9a\uff0c\u663e\u8457\u589e\u5f3a\u4e86\u957f\u671f\u9700\u6c42\u524d\u666f\u3002\u8fd9\u4e3a\u50cf\u5e03\u7c73\u5854\u739b\u8fd9\u6837\u7684\u751f\u4ea7\u5546\u521b\u9020\u4e86\u66f4\u6709\u5229\u7684\u8d38\u6613\u73af\u5883\uff0c\u5c24\u5176\u662f\u5728\u5bf9\u4e2d\u56fd\u548c\u5370\u5ea6\u7b49\u4e3b\u8981\u4e70\u5bb6\u7684\u53d1\u8d27\u52a0\u901f\u7684\u60c5\u51b5\u4e0b\u3002<br>  <\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u68d5\u6988\u6cb9\u73b0\u8d27\u4ef7\u683c <\/strong>\n<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1556\" height=\"637\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-screen-ai-generated-content-may-be-i-42.jpeg\" alt=\"A graph on a screen\n\nAI-generated content may be incorrect.\" class=\"wp-image-75346\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-screen-ai-generated-content-may-be-i-42.jpeg 1556w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-screen-ai-generated-content-may-be-i-42-300x123.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-screen-ai-generated-content-may-be-i-42-1024x419.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-screen-ai-generated-content-may-be-i-42-768x314.jpeg 768w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-screen-ai-generated-content-may-be-i-42-1536x629.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<ul class=\"wp-block-list\">\n<li><strong>\u77ed\u671f\u4ef7\u683c\u538b\u529b\u88ab\u7ed3\u6784\u6027\u589e\u957f\u62b5\u6d88\u3002<\/strong>\u5c3d\u7ba1\u57fa\u672c\u9762\u5f3a\u52b2\uff0c\u68d5\u6988\u6cb9\u4ef7\u683c\u4ecd\u7136\u53d7\u5230\u6765\u81ea\u7ade\u4e89\u98df\u7528\u6cb9\u3001\u80fd\u6e90\u5e02\u573a\u548c\u5730\u7f18\u653f\u6cbb\u5e72\u6270\u7684\u77ed\u671f\u6ce2\u52a8\u5f71\u54cd\u3002\u7531\u4e8e\u5e93\u5b58\u589e\u52a0\u548c\u539f\u6cb9\u8d70\u5f31\uff0c\u9a6c\u6765\u897f\u4e9aCPO\u671f\u8d27\u8fd1\u671f\u8dcc\u7834\u6bcf\u54284500\u9a6c\u6765\u897f\u4e9a\u6797\u5409\u7279\uff0c\u8fd9\u53ef\u80fd\u6291\u5236\u751f\u7269\u67f4\u6cb9\u7684\u9700\u6c42\u3002\u7136\u800c\uff0c\u5370\u5ea6\u5c3c\u897f\u4e9a\u7684B40\u653f\u7b56\u7ee7\u7eed\u652f\u6491\u7ed3\u6784\u6027\u6d88\u8d39\uff0c\u800c\u5370\u5ea6\u7684\u8282\u65e5\u9700\u6c42\u548c\u5e93\u5b58\u4e0b\u964d\u63d0\u4f9b\u4e86\u7f13\u51b2\u3002\u5e03\u7c73\u5854\u739b\u4e13\u6ce8\u4e8e\u91cd\u65b0\u79cd\u690d\u3001\u4ea7\u91cf\u4f18\u5316\u548c\u6210\u672c\u63a7\u5236\uff0c\u4f7f\u5176\u5728\u5e94\u5bf9\u5468\u671f\u6027\u6ce2\u52a8\u548c\u7ef4\u6301\u7ade\u4e89\u6027\u5229\u6da6\u7387\u65b9\u9762\u5904\u4e8e\u826f\u597d\u4f4d\u7f6e\u3002<br>  <\/li>\n\n\n\n<li><strong>2025\u5e74\u4e0a\u534a\u5e74\u4e1a\u7ee9\u56de\u987e\u3002<\/strong>\u6536\u5165\u540c\u6bd4\u589e\u957f28.2%\uff0c\u8fbe\u52309.74\u4e07\u4ebf\u5370\u5c3c\u5362\u6bd4\uff0c\u53bb\u5e74\u540c\u671f\u4e3a7.6\u4e07\u4ebf\u5370\u5c3c\u5362\u6bd4\u3002\u51c0\u5229\u6da6\u589e\u957f47.8%\uff0c\u8fbe\u52301.27\u4e07\u4ebf\u5370\u5c3c\u5362\u6bd4\uff08\u7ea6\u54081\u4ebf\u65b0\u5143\uff09\uff0c\u9ad8\u4e8e2024\u5e74\u4e0a\u534a\u5e748568\u4ebf\u5370\u5c3c\u5362\u6bd4\uff0c2025\u5e74\u4e0a\u534a\u5e74\u7684\u6bcf\u80a1\u6536\u76ca\u4e3a730\u5370\u5c3c\u5362\u6bd4\uff0c\u800c\u524d\u671f\u4e3a494\u5370\u5c3c\u5362\u6bd4\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-75347\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-75306-9.png\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-75306-9.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-75306-9-300x64.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=\"1229\" height=\"591\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-75306-10.jpeg\" alt=\"\" class=\"wp-image-75348\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-75306-10.jpeg 1229w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-75306-10-300x144.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-75306-10-1024x492.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-75306-10-768x369.jpeg 768w\" sizes=\"(max-width: 1229px) 100vw, 1229px\" \/><\/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-23.jpeg\" alt=\"A long line of a white background\n\nDescription automatically generated with medium confidence\" class=\"wp-image-75349\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-long-line-of-a-white-background-description-aut-23.jpeg 752w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-long-line-of-a-white-background-description-aut-23-300x64.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>\u65b0\u52a0\u5761\u4ea4\u6613\u6240\u6709\u9650\u516c\u53f8(SGX SP): \u63a8\u52a8\u65b0\u52a0\u5761\u8d44\u672c\u5e02\u573a\u7684\u589e\u957f<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a15.8\uff0c\u76ee\u6807\u4ef7\uff1a17.2\uff0c\u6b62\u635f\u4ef7\uff1a15.1<\/strong><br>  <\/li>\n\n\n\n<li>\u65b0\u52a0\u5761\u4ea4\u6613\u6240\u6709\u9650\u516c\u53f8\u62e5\u6709\u5e76\u8fd0\u8425\u65b0\u52a0\u5761\u7684\u8bc1\u5238\u548c\u884d\u751f\u54c1\u4ea4\u6613\u6240\u53ca\u5176\u76f8\u5173\u6e05\u7b97\u6240\u3002\u516c\u53f8\u8fd8\u4e3a\u91d1\u878d\u884c\u4e1a\u7684\u53c2\u4e0e\u8005\u63d0\u4f9b\u8f85\u52a9\u8bc1\u5238\u5904\u7406\u548c\u4fe1\u606f\u6280\u672f\u670d\u52a1\u3002<br>  <\/li>\n\n\n\n<li><strong>\u521b\u7eaa\u5f55\u7684\u8d22\u52a1\u8868\u73b0\u548c\u6301\u7eed\u7684\u5206\u7ea2\u589e\u957f\u3002<\/strong>\u65b0\u52a0\u5761\u4ea4\u6613\u6240\uff08SGX\uff09\u5b9e\u73b0\u4e86\u4e0a\u5e02\u4ee5\u6765\u6700\u9ad8\u7684\u5168\u5e74\u6536\u5165\u548c\u51c0\u5229\u6da6\uff0c\u5f70\u663e\u5176\u591a\u8d44\u4ea7\u6218\u7565\u548c\u4e25\u683c\u6267\u884c\u7684\u6210\u529f\u3002\u5c3d\u7ba1\u4e0b\u534a\u5e74\u6536\u76ca\u7565\u6709\u4e0b\u964d\uff0c\u4f46\u5168\u5e74\u5229\u6da6\u589e\u957f8.4%\uff0c\u63a5\u8fd16.48\u4ebf\u65b0\u5143\uff0c\u5f97\u76ca\u4e8e\u80a1\u7968\u3001\u56fa\u5b9a\u6536\u76ca\u3001\u8d27\u5e01\u548c\u5546\u54c1\u7684\u5e7f\u6cdb\u589e\u957f\u3002\u540c\u65f6\uff0cSGX\u7ee7\u7eed\u901a\u8fc7\u6e10\u8fdb\u7684\u5206\u7ea2\u653f\u7b56\u589e\u5f3a\u80a1\u4e1c\u56de\u62a5\uff0c\u5305\u62ec\u57282026\u8d22\u5e74\u81f32028\u8d22\u5e74\u4e4b\u95f4\u6bcf\u5b63\u5ea6\u7a33\u5b9a\u589e\u52a00.0025\u65b0\u5143\u3002\u8463\u4e8b\u4f1a\u5ba3\u5e03\u6bcf\u80a1\u6700\u7ec8\u5b63\u5ea6\u80a1\u606f\u4e3a0.105\u65b0\u5143\uff0c\u4f7f2025\u8d22\u5e74\u7684\u603b\u652f\u4ed8\u63d0\u9ad8\u81f30.375\u65b0\u5143\uff0c\u53cd\u6620\u51fa\u5e74\u5316\u589e\u957f8.7%\u3002\u8fd9\u4e00\u521b\u7eaa\u5f55\u7684\u6536\u76ca\u52bf\u5934\u4e0e\u53ef\u9760\u7684\u5206\u7ea2\u589e\u957f\u76f8\u7ed3\u5408\uff0c\u589e\u5f3a\u4e86SGX\u5728\u5168\u7403\u5e02\u573a\u6ce2\u52a8\u4e2d\u7684\u9632\u5fa1\u6027\u548c\u6536\u76ca\u6027\u6295\u8d44\u5730\u4f4d\u3002<br>  <\/li>\n\n\n\n<li><strong>\u4e0d\u65ad\u589e\u957f\u7684IPO\u7ba1\u9053\u548c\u4ea7\u54c1\u521b\u65b0\u3002<\/strong>SGX\u51c6\u5907\u901a\u8fc7\u5f3a\u5927\u7684IPO\u7ba1\u9053\u6355\u83b7\u66f4\u591a\u589e\u957f\uff0c\u8fd9\u662f\u591a\u5e74\u6765\u6700\u5f3a\u52b2\u7684\uff0c\u5f97\u76ca\u4e8e\u653f\u5e9c\u6fc0\u52b1\u63aa\u65bd\u548c\u5e02\u573a\u6d41\u52a8\u6027\u7684\u589e\u5f3a\u3002\u8d85\u8fc730\u5bb6\u516c\u53f8\u6b63\u5728\u79ef\u6781\u51c6\u5907\u4e0a\u5e02\uff0c\u7a81\u663e\u51fa\u5bf9\u65b0\u52a0\u5761\u8d44\u672c\u5e02\u573a\u7684 renewed \u4fe1\u5fc3\u3002\u540c\u65f6\uff0cSGX\u6b63\u5728\u6269\u5c55\u521b\u65b0\u4ea7\u54c1\uff0c\u4f8b\u5982\u4e0e\u4e1c\u76df\u5e02\u573a\u76f8\u5173\u7684SGX\u5b58\u6258\u51ed\u8bc1\uff08SDRs\uff09\u548c\u6d3b\u8dc3\u7684ETF\u4e0a\u5e02\uff0c\u4f7f\u6295\u8d44\u8005\u80fd\u591f\u66f4\u6709\u6548\u5730\u5b9e\u73b0\u6295\u8d44\u7ec4\u5408\u591a\u6837\u5316\u3002\u8fd9\u4e9b\u52aa\u529b\u7ed3\u5408\u6301\u7eed\u7684\u6280\u672f\u589e\u5f3a\u548c\u4ea7\u54c1\u521b\u65b0\uff0c\u5de9\u56fa\u4e86SGX\u4f5c\u4e3a\u4e9a\u6d32\u9996\u5c48\u4e00\u6307\u7684\u591a\u8d44\u4ea7\u4ea4\u6613\u6240\u548c\u5168\u7403\u8d44\u672c\u6d41\u52a8\u4e2d\u5fc3\u7684\u89d2\u8272\u3002<br>  <\/li>\n\n\n\n<li><strong>\u91cd\u632f\u65b0\u52a0\u5761\u7684\u80a1\u7968\u751f\u6001\u7cfb\u7edf\u3002<\/strong>\u65b0\u52a0\u576150\u4ebf\u65b0\u52a0\u5761\u5143\u7684\u80a1\u5e02\u53d1\u5c55\u8ba1\u5212\uff0c\u7531\u65b0\u52a0\u5761\u91d1\u878d\u7ba1\u7406\u5c40\uff08MAS\uff09\u4e3b\u5bfc\uff0c\u4ee3\u8868\u7740\u5bf9\u632f\u5174\u672c\u5730\u80a1\u7968\u5e02\u573a\u7684\u91cd\u8981\u6218\u7565\u627f\u8bfa\uff0c\u5c24\u5176\u662f\u901a\u8fc7\u589e\u5f3a\u6d41\u52a8\u6027\u3001\u7814\u7a76\u548c\u6295\u8d44\u8005\u53c2\u4e0e\u3002\u6700\u521d\u5411Avanda\u6295\u8d44\u7ba1\u7406\u3001\u5bcc\u6566\u57fa\u91d1\u7ba1\u7406\u548c\u6469\u6839\u5927\u901a\u8d44\u4ea7\u7ba1\u7406\u5206\u914d\u768411\u4ebf\u65b0\u52a0\u5761\u5143\u53cd\u6620\u4e86\u5f3a\u5927\u7684\u673a\u6784\u652f\u6301\uff0c\u5e76\u4e3a\u652f\u6301SGX\u4e0a\u8f83\u5c11\u4ee3\u8868\u7684\u5c0f\u578b\u548c\u4e2d\u578b\u516c\u53f8\u7684\u57fa\u7840\u5960\u5b9a\u4e86\u57fa\u7840\u3002\u8fd9\u4e9b\u52aa\u529b\u4e0d\u4ec5\u65e8\u5728\u63d0\u5347\u4f30\u503c\u548c\u4ea4\u6613\u6d3b\u52a8\uff0c\u8fd8\u5e0c\u671b\u5438\u5f15\u65b0\u4e00\u4ee3\u9ad8\u8d28\u91cf\u4e0a\u5e02\u516c\u53f8\uff0c\u4fc3\u8fdb\u66f4\u5177\u6d3b\u529b\u548c\u97e7\u6027\u7684\u8d44\u672c\u5e02\u573a\u751f\u6001\u7cfb\u7edf\u3002\u8fd1\u671f\u6d77\u5ce1\u65f6\u62a5\u6307\u6570\u521b\u4e0b\u65b0\u9ad8\uff0c\u4f34\u968f\u4ea4\u6613\u91cf\u589e\u52a0\u548c\u9996\u6b21\u516c\u5f00\u52df\u80a1\uff08IPO\uff09\u52bf\u5934\u6062\u590d\uff0c\u8868\u660e\u6295\u8d44\u8005\u5bf9SGX\u524d\u666f\u7684\u4fe1\u5fc3\u589e\u5f3a\u3002\u5c3d\u7ba1\u5728\u8d44\u91d1\u90e8\u7f72\u7b56\u7565\u65b9\u9762\u4ecd\u9700\u66f4\u900f\u660e\uff0c\u4f46\u66f4\u5e7f\u6cdb\u7684\u6539\u9769\u6b63\u5728\u91ca\u653e\u80a1\u4e1c\u4ef7\u503c\uff0c\u4f7f\u5e02\u573a\u66f4\u6613\u4e8e\u8fdb\u5165\u3002\u968f\u7740\u65f6\u95f4\u7684\u63a8\u79fb\uff0c\u8fd9\u4e9b\u4e3e\u63aa\u5e94\u7f29\u5c0f\u4e0e\u5730\u533a\u540c\u884c\u7684\u4f30\u503c\u5dee\u8ddd\uff0c\u589e\u52a0\u878d\u8d44\u673a\u4f1a\uff0c\u5e76\u63d0\u5347\u65b0\u52a0\u5761\u4f5c\u4e3a\u7ade\u4e89\u529b\u548c\u52a8\u6001\u91d1\u878d\u4e2d\u5fc3\u7684\u5730\u4f4d\u3002<br>  <\/li>\n\n\n\n<li><strong>2025\u8d22\u5e74\u4e1a\u7ee9\u56de\u987e\u3002<\/strong>\u5c3d\u7ba12025\u8d22\u5e74\u4e0b\u534a\u5e74\u51c0\u5229\u6da6\u4e0b\u964d2.6%\uff0c\u964d\u81f33.08\u4ebf\u65b0\u5143\uff08\u53bb\u5e74\u4e3a3.163\u4ebf\u65b0\u5143\uff09\uff0c\u65b0\u52a0\u5761\u4ea4\u6613\u6240\u6709\u9650\u516c\u53f8\u62a5\u544a\u4e86\u4e0a\u5e02\u4ee5\u6765\u6700\u9ad8\u7684\u5168\u5e74\u6536\u5165\u548c\u51c0\u5229\u6da6\u30022025\u8d22\u5e74\u6536\u5165\u4e3a13\u4ebf\u65b0\u5143\uff0c\u540c\u6bd4\u589e\u957f11.7%\u3002\u8c03\u6574\u540e\u7684\u5e74\u5ea6\u51c0\u5229\u6da6\u589e\u957f15.9%\uff0c\u8fbe\u52306.095\u4ebf\u65b0\u5143\uff0c\u4e3b\u8981\u53d7\u80a1\u7968\u3001\u8d27\u5e01\u548c\u5546\u54c1\u4ea4\u6613\u91cf\u589e\u52a0\u7684\u63a8\u52a8\u3002SGX\u5ba3\u5e03\u6bcf\u80a1\u6700\u7ec8\u5b63\u5ea6\u80a1\u606f\u4e3a10.5\u5206\uff0c\u6bd4\u53bb\u5e749\u5206\u6709\u6240\u4e0a\u5347\uff0c\u5e76\u8ba1\u5212\u57282026\u8d22\u5e74\u81f32028\u8d22\u5e74\u4e4b\u95f4\u6bcf\u5b63\u5ea6\u589e\u52a00.25\u5206\u7684\u80a1\u606f\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-75350\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-blue-and-white-rectangular-object-with-numbers-54.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-54.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-blue-and-white-rectangular-object-with-numbers-54-300x64.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=\"997\" height=\"575\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-showing-a-price-ai-generated-content-may-3.jpeg\" alt=\"A graph showing a price\n\nAI-generated content may be incorrect.\" class=\"wp-image-75351\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-showing-a-price-ai-generated-content-may-3.jpeg 997w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-showing-a-price-ai-generated-content-may-3-300x173.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-showing-a-price-ai-generated-content-may-3-768x443.jpeg 768w\" sizes=\"(max-width: 997px) 100vw, 997px\" \/><\/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-75306-14.png\" alt=\"\" class=\"wp-image-75352\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-75306-14.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-75306-14-300x64.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-75306-15.png\" class=\"wp-image-75353\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-75306-15.png 602w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-75306-15-300x64.png 300w\" sizes=\"(max-width: 602px) 100vw, 602px\" \/><\/figure><a id=\"post-75306-_34eo5yf8y7pj\"><\/a><\/h2>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>\u4e2d\u82af\u56fd\u9645\u96c6\u6210\u7535\u8def\u5236\u9020(981 HK)\uff1a\u534a\u5bfc\u4f53\u72ec\u7acb\u6027<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a60\uff0c\u76ee\u6807\u4ef7\uff1a68\uff0c\u6b62\u635f\u4ef7\uff1a56<\/strong><br>  <\/li>\n\n\n\n<li>\u4e2d\u82af\u56fd\u9645\u96c6\u6210\u7535\u8def\u5236\u9020\u6709\u9650\u516c\u53f8\u662f\u4e00\u5bb6\u4e3b\u8981\u4ece\u4e8b\u96c6\u6210\u7535\u8def\u6676\u5706\u4ee3\u5de5\u4e1a\u52a1\u7684\u6295\u8d44\u63a7\u80a1\u516c\u53f8\u3002\u8be5\u516c\u53f8\u4ece\u4e8b\u7845\u7247\u53ca\u5316\u5408\u7269\u534a\u5bfc\u4f53\u96c6\u6210\u7535\u8def\u6676\u5706\u7684\u5236\u9020\u53ca\u6d4b\u8bd5\u4e1a\u52a1\u3002\u8be5\u516c\u53f8\u8fd8\u63d0\u4f9b\u4e0e\u96c6\u6210\u7535\u8def\u6709\u5173\u7684\u5f00\u53d1\u3001\u8bbe\u8ba1\u53ca\u6280\u672f\u670d\u52a1\u3001\u5149\u63a9\u6a21\u5236\u9020\u3001\u6d4b\u8bd5\u53ca\u9500\u552e\u81ea\u4ea7\u4ea7\u54c1\u4ee5\u53ca\u5176\u4ed6\u670d\u52a1\u3002\u8be5\u516c\u53f8\u5411\u56fd\u5185\u5916\u5ba2\u6237\u63d0\u4f9b\u6676\u5706\u4ee3\u5de5\u4e0e\u6280\u672f\u670d\u52a1\u3002<br>  <\/li>\n\n\n\n<li><strong>\u4e2d\u56fd\u63a8\u52a8\u534a\u5bfc\u4f53\u72ec\u7acb\u3002 <\/strong>\u4e2d\u56fd\u82af\u7247\u5236\u9020\u5546\u6b63\u52a0\u901f\u51cf\u5c11\u5bf9\u82f1\u4f1f\u8fbe\u7684\u4f9d\u8d56\uff0c\u76ee\u6807\u662f\u57282026\u5e74\u524d\u5c06\u56fd\u5185\u4eba\u5de5\u667a\u80fd\uff08AI\uff09\u82af\u7247\u4ea7\u91cf\u63d0\u9ad8\u4e09\u500d\u3002\u636e\u6d88\u606f\u4eba\u58eb\u900f\u9732\uff0c\u534e\u4e3a\u8ba1\u5212\u5728\u5e74\u5e95\u524d\u542f\u52a8\u4e00\u5bb6\u65b0\u7684AI\u82af\u7247\u5de5\u5382\u7684\u751f\u4ea7\uff0c\u53e6\u6709\u4e24\u5bb6\u5de5\u5382\u5b9a\u4e8e\u660e\u5e74\u6295\u4ea7\u3002\u867d\u7136\u8fd9\u4e9b\u5de5\u5382\u65e8\u5728\u652f\u6301\u534e\u4e3a\uff0c\u4f46\u5176\u6240\u6709\u6743\u7ed3\u6784\u5c1a\u4e0d\u660e\u786e\u3002\u6b64\u5916\uff0c\u4e2d\u82af\u56fd\u9645\u5ba3\u5e03\u8ba1\u5212\u57282025\u5e74\u6295\u8d4470\u4ebf\u7f8e\u5143\u4ee5\u6269\u5927\u4ea7\u91cf\uff0c\u5e76\u57282026\u5e74\u524d\u5c06\u51767\u7eb3\u7c73\u82af\u7247\u5236\u9020\u80fd\u529b\u7ffb\u500d\uff0c\u5176\u4e2d\u534e\u4e3a\u662f\u5176\u6700\u5927\u5ba2\u6237\u3002\u6b64\u6b21\u6269\u4ea7\u9884\u8ba1\u5c06\u4e3a\u5bd2\u6b66\u7eaa\u3001\u6469\u5c14\u7ebf\u7a0b\u548c\u58c1\u4ede\u7b49\u89c4\u6a21\u8f83\u5c0f\u7684\u4e2d\u56fd\u82af\u7247\u5f00\u53d1\u5546\u817e\u51fa\u4ea7\u80fd\uff0c\u4ece\u800c\u5728\u7f8e\u56fd\u51fa\u53e3\u9650\u5236\u5bfc\u81f4\u82f1\u4f1f\u8fbe\u9000\u51fa\u540e\uff0c\u5728\u4e2d\u56fd\u8fd9\u4e2a\u8fc5\u901f\u589e\u957f\u7684\u56fd\u5185\u5e02\u573a\u4e2d\u52a0\u5267\u7ade\u4e89\u3002\u8fd9\u4e9b\u53d1\u5c55\u8fdb\u4e00\u6b65\u5f3a\u5316\u4e86\u4e2d\u56fd\u5b9e\u73b0\u534a\u5bfc\u4f53\u81ea\u7ed9\u81ea\u8db3\u7684\u51b3\u5fc3\uff0c\u5e76\u5de9\u56fa\u4e86\u4e2d\u82af\u56fd\u9645\u4f5c\u4e3a\u4e2d\u56fd\u9886\u5148\u82af\u7247\u5236\u9020\u5546\u7684\u5730\u4f4d\u3002<br>  <\/li>\n\n\n\n<li><strong>\u5173\u7a0e\u5f71\u54cd\u6709\u9650\u3002 <\/strong>\u524d\u603b\u7edf\u7279\u6717\u666e\u66fe\u63d0\u8bae\u5bf9\u534a\u5bfc\u4f53\u8fdb\u53e3\u5f81\u6536100%\u7684\u5173\u7a0e\uff0c\u4f46\u8c41\u514d\u4e86\u53f0\u79ef\u7535\u548c\u82f1\u7279\u5c14\u7b49\u5728\u7f8e\u56fd\u8bbe\u6709\u5de5\u5382\u7684\u5236\u9020\u5546\uff0c\u4ee5\u9f13\u52b1\u56fd\u5185\u751f\u4ea7\u3002\u5c3d\u7ba1\u6700\u521d\u6709\u6240\u62c5\u5fe7\uff0c\u4f46\u4e2d\u82af\u56fd\u9645\u62a5\u544a\u79f0\uff0c\u7f8e\u56fd\u8d38\u6613\u653f\u7b56\u5e76\u672a\u9020\u6210\u5176\u4e00\u5ea6\u62c5\u5fc3\u7684\u201c\u786c\u7740\u9646\u201d\u3002\u76f8\u53cd\uff0c\u6765\u81ea\u56fd\u5185\u66ff\u4ee3\u7684\u9700\u6c42\u6301\u7eed\u63a8\u52a8\u5f3a\u52b2\u589e\u957f\uff0c\u4f7f\u5f97\u4ea7\u80fd\u81f3\u5c11\u572810\u6708\u4e4b\u524d\u90fd\u4fdd\u6301\u7d27\u5f20\u3002\u4e2d\u56fd\u4ecd\u7136\u662f\u4e2d\u82af\u56fd\u9645\u7684\u4e3b\u5bfc\u5e02\u573a\uff0c\u57282025\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u5360\u5176\u6536\u5165\u768484%\uff0c\u800c\u7f8e\u56fd\u5e02\u573a\u4ec5\u536012.9%\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\u4ece2024\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u768419\u4ebf\u7f8e\u5143\u589e\u957f16.2%\u81f322.1\u4ebf\u7f8e\u5143\u30022025\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u51c0\u5229\u6da6\u4e3a1.467\u4ebf\u7f8e\u5143\uff0c\u8f832024\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u76841.723\u4ebf\u7f8e\u5143\u4e0b\u964d\u4e8614.9%\u30022025\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u548c2024\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u7684\u6bcf\u80a1\u57fa\u672c\u6536\u76ca\u5747\u4fdd\u6301\u4e0d\u53d8\uff0c\u4e3a0.02\u7f8e\u5143\u3002<br>  <\/li>\n\n\n\n<li><strong>\u5e02\u573a\u5171\u8bc6<figure><img loading=\"lazy\" decoding=\"async\" width=\"497\" height=\"106\" class=\"wp-image-75354\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-75306-16.png\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-75306-16.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-75306-16-300x64.png 300w\" sizes=\"(max-width: 497px) 100vw, 497px\" \/><\/figure><\/strong><\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1108\" height=\"600\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-75306-17.jpeg\" alt=\"\" class=\"wp-image-75355\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-75306-17.jpeg 1108w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-75306-17-300x162.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-75306-17-1024x555.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-75306-17-768x416.jpeg 768w\" sizes=\"(max-width: 1108px) 100vw, 1108px\" \/><\/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-75306-18.png\" class=\"wp-image-75356\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-75306-18.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-75306-18-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure><\/strong><\/h3>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>\u821c\u5b87\u5149\u5b66\u79d1\u6280(\u96c6\u56e2) (2382 HK)\uff1a\u53d7\u76ca\u4e8e iPhone \u7684\u8fdb\u4e00\u6b65\u53d1\u5c55<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a84\uff0c\u76ee\u6807\u4ef7\uff1a94\uff0c\u6b62\u635f\u4ef7\uff1a79<\/strong><br>  <\/li>\n\n\n\n<li>\u821c\u5b87\u5149\u5b66\u79d1\u6280\uff08\u96c6\u56e2\uff09\u6709\u9650\u516c\u53f8\u662f\u4e00\u5bb6\u4e3b\u8981\u4ece\u4e8b\u5149\u5b66\u53ca\u76f8\u5173\u4ea7\u54c1\u4ee5\u53ca\u79d1\u5b66\u4eea\u5668\u7684\u8bbe\u8ba1\u3001\u7814\u53d1\u3001\u751f\u4ea7\u548c\u9500\u552e\u4e1a\u52a1\u7684\u6295\u8d44\u63a7\u80a1\u516c\u53f8\u3002\u8be5\u516c\u53f8\u7ecf\u8425\u4e09\u4e2a\u4e1a\u52a1\u5206\u90e8\uff1a\u5149\u5b66\u96f6\u4ef6\u5206\u90e8\u3001\u5149\u7535\u4ea7\u54c1\u5206\u90e8\u548c\u5149\u5b66\u4eea\u5668\u5206\u90e8\u3002\u8be5\u516c\u53f8\u7684\u4e3b\u8981\u4ea7\u54c1\u5305\u62ec\u624b\u673a\u955c\u5934\u3001\u8f66\u8f7d\u955c\u5934\u3001\u9ad8\u50cf\u7d20\u955c\u5934\u706f\u3001\u6444\u50cf\u6a21\u7ec4\u7b49\u3002\u8be5\u516c\u53f8\u7684\u4ea7\u54c1\u9500\u5f80\u4e2d\u56fd\u56fd\u5185\u4e0e\u6d77\u5916\u5e02\u573a\u3002<br>  <\/li>\n\n\n\n<li><strong>iPhone \u5168\u9762\u6539\u7248\u89c4\u5212\u3002 <\/strong>\u82f9\u679c\u8ba1\u5212\u5728\u672a\u6765\u4e09\u5e74\u5bf9 iPhone \u8fdb\u884c\u91cd\u5927\u91cd\u65b0\u8bbe\u8ba1\uff0c\u5e76\u5c06\u5728 2027 \u5e74\u63a8\u51fa\u5168\u65b0\u7684\u201ciPhone 20\u201d\uff0c\u4ee5\u7eaa\u5ff5 iPhone \u8bde\u751f 20 \u5468\u5e74\u30022025 \u5e74\uff0c\u82f9\u679c\u5c06\u53d1\u5e03 iPhone 17 Air\uff0c\u8fd9\u662f\u4e00\u6b3e\u5927\u5e45\u5ea6\u7626\u8eab\u7684\u673a\u578b\uff0c\u91cd\u70b9\u5728\u4e8e\u66f4\u8f7b\u8584\u7684\u673a\u8eab\u8bbe\u8ba1\uff0c\u800c\u975e\u65b0\u589e\u529f\u80fd\u30022026 \u5e74\uff0c\u82f9\u679c\u9884\u8ba1\u5c06\u63a8\u51fa\u9996\u6b3e\u6298\u53e0\u5c4f iPhone\uff0c\u91c7\u7528\u7c7b\u4f3c\u4e66\u672c\u7684\u6298\u53e0\u8bbe\u8ba1\uff0c\u5408\u4e0a\u65f6\u5177\u5907\u5916\u5c4f\uff0c\u5c55\u5f00\u540e\u5219\u914d\u5907\u66f4\u5927\u7684\u5185\u5c4f\u3002\u5230 2027 \u5e74\uff0c\u82f9\u679c\u6b63\u7814\u53d1\u4e00\u6b3e\u73af\u7ed5\u5f0f\u5c4f\u5e55 iPhone\uff0c\u663e\u793a\u5c4f\u5c06\u65e0\u7f1d\u5ef6\u4f38\u8986\u76d6\u673a\u8eab\u6240\u6709\u8fb9\u7f18\u3002\u9274\u4e8e\u82f9\u679c\u662f\u821c\u5b87\u5149\u5b66\u7684\u91cd\u8981\u5ba2\u6237\uff0c\u8fd9\u4e00\u4ea7\u54c1\u8def\u7ebf\u56fe\u6709\u671b\u4e3a\u821c\u5b87\u5149\u5b66\u5e26\u6765\u7a33\u5b9a\u7684\u6536\u5165\u652f\u6301\u3002<br>  <\/li>\n\n\n\n<li><strong>\u4e2d\u56fd\u667a\u80fd\u624b\u673a\u5e02\u573a\u590d\u82cf\u3002 <\/strong>\u4e2d\u56fd\u667a\u80fd\u624b\u673a\u5e02\u573a\u5728 2025 \u5e74\u7b2c\u4e8c\u5b63\u5ea6\u53cd\u5f39\u3002\u534e\u4e3a\u51fa\u8d27\u91cf\u8fbe 1,220 \u4e07\u90e8\uff0c\u540c\u6bd4\u589e\u957f 15%\uff0c\u91cd\u593a\u5e02\u573a\u7b2c\u4e00\u3002\u82f9\u679c\u51fa\u8d27\u91cf\u8fbe 1,010 \u4e07\u90e8\uff0c\u540c\u6bd4\u589e\u957f 4%\uff0c\u4e3a\u81ea 2023 \u5e74\u7b2c\u56db\u5b63\u5ea6\u4ee5\u6765\u9996\u6b21\u5728\u534e\u5b9e\u73b0\u5b63\u5ea6\u589e\u957f\uff0c\u5e02\u573a\u6392\u540d\u7b2c\u4e94\u3002\u7ed3\u679c\u663e\u793a\u51fa\u56fd\u5185\u9700\u6c42\u7684\u97e7\u6027\uff0c\u540c\u65f6\u5728\u653f\u5e9c\u523a\u6fc0\u6d88\u8d39\u7684\u8865\u8d34\u653f\u7b56\u652f\u6301\u4e0b\uff0c\u6211\u4eec\u9884\u8ba1\u667a\u80fd\u624b\u673a\u9500\u91cf\u5c06\u6301\u7eed\u56de\u5347\uff0c\u5e76\u5e26\u52a8\u6d88\u8d39\u7535\u5b50\u9700\u6c42\u4e0a\u5347\uff0c\u4ece\u800c\u95f4\u63a5\u5229\u597d\u821c\u5b87\u5149\u5b66\u3002<br>  <\/li>\n\n\n\n<li><strong>\u4e0e\u6b4c\u5c14\u5408\u4f5c AR \u4e1a\u52a1\u3002 <\/strong>\u821c\u5b87\u5149\u5b66\u8fd1\u671f\u4e0e\u6b4c\u5c14\u7b7e\u7f72\u6218\u7565\u5408\u4f5c\u8c05\u89e3\u5907\u5fd8\u5f55\uff0c\u5171\u540c\u5e03\u5c40\u589e\u5f3a\u73b0\u5b9e\uff08AR\uff09\u6280\u672f\u3002\u6839\u636e\u534f\u8bae\uff0c\u821c\u5b87\u5149\u5b66\u5c06\u6301\u6709\u6b4c\u5c14\u5149\u5b66 33% \u80a1\u6743\uff0c\u800c\u6b4c\u5c14\u5149\u5b66\u5c06\u5168\u8d44\u63a7\u80a1\u821c\u5b87\u5b50\u516c\u53f8\u4e0a\u6d77\u5965\u956d\u5149\u7535\u3002\u4e0a\u6d77\u5965\u956d\u4e13\u6ce8\u4e8e\u884d\u5c04\u5149\u6ce2\u5bfc\u6280\u672f\uff0c\u8be5\u6280\u672f\u662f AR \u8bbe\u5907\u7684\u5173\u952e\u7ec4\u4ef6\u3002\u672c\u6b21\u5408\u4f5c\u5c06\u5f3a\u5316\u821c\u5b87\u5149\u5b66\u5728 AR \u751f\u6001\u4e2d\u7684\u6218\u7565\u5730\u4f4d\uff0c\u6709\u52a9\u4e8e\u83b7\u53d6\u91cd\u70b9\u9879\u76ee\uff0c\u5e76\u5728\u672a\u6765 AI \u4e0e AR \u4ea7\u54c1\u5feb\u901f\u53d1\u5c55\u7684\u8d8b\u52bf\u4e0b\uff0c\u5e26\u6765\u53ef\u89c2\u7684\u4e0a\u884c\u6f5c\u529b\u3002<br>  <\/li>\n\n\n\n<li><strong>2025 \u5e74\u4e0a\u534a\u5e74\u4e1a\u7ee9\u56de\u987e\u3002 <\/strong>2025 \u5e74\u4e0a\u534a\u5e74\u6536\u5165\u540c\u6bd4\u589e\u957f 4.20% \u81f3\u4eba\u6c11\u5e01 196.5 \u4ebf\u5143\uff082024 \u5e74\u4e0a\u534a\u5e74\u4e3a\u4eba\u6c11\u5e01 188.6 \u4ebf\u5143\uff09\u3002\u51c0\u5229\u6da6\u540c\u6bd4\u589e\u957f 55.1% \u81f3\u4eba\u6c11\u5e01 17.2 \u4ebf\u5143\uff082024 \u5e74\u4e0a\u534a\u5e74\u4e3a\u4eba\u6c11\u5e01 11.1 \u4ebf\u5143\uff09\u3002\u6bcf\u80a1\u57fa\u672c\u76c8\u5229\u4e3a 1.516 \u5143\u4eba\u6c11\u5e01\uff082024 \u5e74\u4e0a\u534a\u5e74\u4e3a 0.9904 \u5143\u4eba\u6c11\u5e01\uff09\u3002<br>  <\/li>\n\n\n\n<li><strong>\u5e02\u573a\u5171\u8bc6<figure><img loading=\"lazy\" decoding=\"async\" width=\"497\" height=\"106\" class=\"wp-image-75357\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-blue-and-white-rectangular-object-with-numbers-55.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-55.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-blue-and-white-rectangular-object-with-numbers-55-300x64.png 300w\" sizes=\"(max-width: 497px) 100vw, 497px\" \/><\/figure><\/strong><\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1229\" height=\"591\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-75306-20.jpeg\" alt=\"\" class=\"wp-image-75358\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-75306-20.jpeg 1229w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-75306-20-300x144.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-75306-20-1024x492.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-75306-20-768x369.jpeg 768w\" sizes=\"(max-width: 1229px) 100vw, 1229px\" \/><\/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-75306-21.png\" alt=\"\" class=\"wp-image-75359\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-75306-21.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-75306-21-300x64.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-75306-22.png\" alt=\"\" class=\"wp-image-75360\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-75306-22.png 602w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-75306-22-300x64.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>\u4e09\u83f1\u65e5\u8054\u91d1\u878d\u96c6\u56e2(MUFG US): \u5e94\u5bf9\u653f\u7b56\u53d8\u5316\uff0c\u540c\u65f6\u6269\u5c55\u5168\u7403\u96c4\u5fc3<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a15 \u76ee\u6807\u4ef7\uff1a17\u6b62\u635f\u4ef7\uff1a14<\/strong><br>  <\/li>\n\n\n\n<li>\u4e09\u83f1\u65e5\u8054\u91d1\u878d\u96c6\u56e2\u662f\u5168\u7403\u6700\u5927\u7684\u94f6\u884c\u63a7\u80a1\u516c\u53f8\uff0c\u6db5\u76d6\u96f6\u552e\u548c\u5546\u4e1a\u94f6\u884c\u3001\u4f01\u4e1a\u548c\u6295\u8d44\u94f6\u884c\u3001\u8d44\u4ea7\u7ba1\u7406\u548c\u6295\u8d44\u8005\u670d\u52a1\u3001\u5168\u7403\u4f01\u4e1a\u548c\u6295\u8d44\u94f6\u884c\u3001\u5168\u7403\u5546\u4e1a\u94f6\u884c\u3001\u5168\u7403\u94f6\u884c\u5e02\u573a\u4ee5\u53ca\u5e94\u5bf9\u793e\u4f1a\u6570\u5b57\u5316\u8f6c\u578b\u800c\u8bbe\u7acb\u7684\u6570\u5b57\u670d\u52a1\u96c6\u56e2\u3002<br>  <\/li>\n\n\n\n<li><strong>\u653f\u7b56\u53d8\u5316\u652f\u6301\u65e5\u5143\u8d70\u5f3a\u3002<\/strong>\u65e5\u672c\u4e0e\u7f8e\u56fd\u8fbe\u6210\u534f\u8bae\uff0c\u5c06\u5173\u7a0e\u964d\u4f4e\u81f315%\uff0c\u4ee5\u6362\u53d65500\u4ebf\u7f8e\u5143\u7684\u6295\u8d44\u8ba1\u5212\uff0c\u7f13\u89e3\u4e86\u5bf9\u66f4\u4e25\u5389\u8d38\u6613\u63aa\u65bd\u7684\u62c5\u5fe7\uff0c\u4f46\u5173\u952e\u7684\u4e0d\u786e\u5b9a\u6027\u4ecd\u672a\u89e3\u51b3\uff0c\u5c24\u5176\u662f\u6c7d\u8f66\u5173\u7a0e\uff0c\u4ecd\u4fdd\u6301\u572825%\u7684\u7a0e\u7387\uff0c\u76f4\u81f3\u786e\u8ba4\u6709\u53d8\u3002\u867d\u7136\u201c\u65e0\u53e0\u52a0\u201d\u6761\u6b3e\u63d0\u4f9b\u4e86\u4e00\u5b9a\u7684\u7f13\u89e3\uff0c\u4f46\u65e5\u672c\u592e\u884c\u8463\u4e8b\u4f1a\u6210\u5458\u5df2\u6307\u51fa\uff0c\u8fd1\u671f\u53ef\u80fd\u9762\u4e34\u51fa\u53e3\u75b2\u8f6f\u3001\u5de5\u4e1a\u4ea7\u51fa\u4e0b\u964d\u548c\u4f01\u4e1a\u5229\u6da6\u538b\u529b\u7684\u98ce\u9669\u3002\u7136\u800c\uff0c\u5bf9\u65e5\u5143\u8d70\u5f3a\u7684\u4e2d\u671f\u9884\u671f\u4f9d\u7136\u5b58\u5728\u3002\u9e70\u6d3e\u7684\u65e5\u672c\u592e\u884c\u5728\u52b3\u52a8\u529b\u5e02\u573a\u7d27\u5f20\u3001\u5de5\u8d44\u4e0a\u6da8\u548c\u987d\u56fa\u901a\u80c0\u7684\u652f\u6301\u4e0b\uff0c\u4e0e\u7f8e\u8054\u50a8\u503e\u5411\u4e8e\u964d\u606f\u5f62\u6210\u5bf9\u6bd4\u3002\u7f29\u5c0f\u7684\u5229\u7387\u5dee\u5f02\u589e\u5f3a\u4e86\u65e5\u5143\u7684\u907f\u9669\u5438\u5f15\u529b\uff0c\u8fd9\u4e3aMUFG\u5e26\u6765\u4e86\u6539\u5584\u7684\u5b58\u6b3e\u878d\u8d44\u6761\u4ef6\u548c\u66f4\u591a\u56fd\u9645\u6295\u8d44\u8005\u6d41\u5165\u65e5\u672c\u91d1\u878d\u7cfb\u7edf\u7684\u80cc\u666f\u3002<br>  <\/li>\n\n\n\n<li><strong>\u5411\u5168\u7403\u8d44\u4ea7\u7ba1\u7406\u7684\u6218\u7565\u8f6c\u578b\u3002<\/strong>\u7531\u4e8e\u65e5\u672c\u7684\u4eba\u53e3\u7ed3\u6784\u9006\u98ce\u9650\u5236\u4e86\u56fd\u5185\u589e\u957f\uff0cMUFG\u6b63\u4f18\u5148\u8003\u8651\u5728\u8d44\u4ea7\u7ba1\u7406\u9886\u57df\u7684\u6d77\u5916\u6269\u5c55\u3002\u8be5\u96c6\u56e2\u6b63\u5728\u63a2\u7d22\u5728\u7f8e\u56fd\u548c\u6b27\u6d32\u7684\u6536\u8d2d\u548c\u5408\u4f5c\uff0c\u65e8\u5728\u901a\u8fc7\u57fa\u4e8e\u8d39\u7528\u7684\u6536\u5165\u5b9e\u73b0\u76c8\u5229\u591a\u5143\u5316\u3002\u76ee\u524d\uff0cMUFG\u7684120.7\u4e07\u4ebf\u65e5\u5143\u8d44\u4ea7\u7ba1\u7406\u89c4\u6a21\u4e2d\uff0c\u4ec5\u6709\u4e94\u5206\u4e4b\u4e00\u6765\u81ea\u65e5\u672c\u4ee5\u5916\uff0c\u8fd9\u4e3a\u56fd\u9645\u589e\u957f\u63d0\u4f9b\u4e86\u663e\u8457\u7a7a\u95f4\u3002\u501f\u52a9\u5728\u6469\u6839\u58eb\u4e39\u5229\u7684\u80a1\u4efd\u53ca\u4e0d\u65ad\u589e\u957f\u7684\u4f26\u6566\u4e1a\u52a1\uff0cMUFG\u6709\u671b\u5229\u7528\u65e8\u5728\u5c06\u65e5\u672c\u5efa\u7acb\u4e3a\u8d44\u4ea7\u7ba1\u7406\u4e2d\u5fc3\u7684\u7ed3\u6784\u6027\u6539\u9769\u3002\u5982\u679c\u6267\u884c\u987a\u5229\uff0c\u8fd9\u4e00\u8f6c\u578b\u53ef\u4ee5\u63d0\u4f9b\u6bd4\u5468\u671f\u6027\u8d37\u6b3e\u6536\u5165\u66f4\u7a33\u5b9a\u7684\u76c8\u5229\u57fa\u7840\uff0c\u4f7fMUFG\u4e0e\u5168\u7403\u540c\u884c\u5728\u79c1\u4eba\u548c\u66ff\u4ee3\u5e02\u573a\u4e0a\u8ffd\u6c42\u89c4\u6a21\u7684\u65b9\u5411\u4e00\u81f4\u3002<br>  <\/li>\n\n\n\n<li><strong>\u6838\u5fc3\u94f6\u884c\u4e1a\u52a1\u52bf\u5934\u548c\u7a33\u5065\u7684\u56fd\u5185\u8d37\u6b3e\u589e\u957f\u3002<\/strong>MUFG\u57282025\u8d22\u5e74\u7b2c\u4e00\u5b63\u5ea6\u7684\u51c0\u5229\u6da6\u4e3a5460\u4ebf\u65e5\u5143\uff0c\u540c\u6bd4\u589e\u957f2.2%\uff08\u4e0d\u5305\u62ec\u4e00\u6b21\u6027\u9879\u76ee\uff09\uff0c\u4fdd\u6301\u5176\u5e74\u5ea6\u76ee\u6807\u4e3a\u521b\u7eaa\u5f55\u76842\u4e07\u4ebf\u65e5\u5143\u7684\u8f68\u9053\u3002\u56fd\u5185\u8d37\u6b3e\u4f59\u989d\u6269\u5927\u81f375.8\u4e07\u4ebf\u65e5\u5143\uff0c\u53cd\u6620\u51fa\u5c3d\u7ba1\u5173\u7a0e\u5e26\u6765\u4e0d\u786e\u5b9a\u6027\uff0c\u9700\u6c42\u4f9d\u7136\u5f3a\u52b2\u3002\u7ba1\u7406\u5c42\u6307\u51fa\uff0c\u4ec5\u6709\u5c11\u6570\u5ba2\u6237\u63a8\u8fdf\u6295\u8d44\uff0c\u501f\u8d37\u9700\u6c42\u53d7\u5230\u6301\u7eed\u901a\u80c0\u548c\u8d1f\u5229\u7387\u540e\u73af\u5883\u7684\u652f\u6301\u3002\u5728\u65e5\u672c\u592e\u884c\u52a0\u606f\u540e\uff0c\u8d37\u6b3e\u5229\u5dee\u7684\u4e0a\u5347\u6b63\u5728\u6062\u590d\u65e5\u672c\u94f6\u884c\u4e1a\u7684\u76c8\u5229\u80fd\u529b\u3002MUFG\u5728\u7a33\u5b9a\u7684\u4f01\u4e1a\u501f\u8d37\u9700\u6c42\u4e2d\u63d0\u5347\u5229\u5dee\uff0c\u5f70\u663e\u4e86\u5176\u56fd\u5185\u4e1a\u52a1\u7684\u97e7\u6027\u3002<br>  <\/li>\n\n\n\n<li><strong>26\u5e74\u7b2c\u4e00\u5b63\u5ea6\u8d22\u62a5\u56de\u987e\u3002<\/strong>MUFG\u7684\u51c0\u6536\u5165\u8fbe\u52305460\u4ebf\u65e5\u5143\uff08\u7ea6\u540837\u4ebf\u7f8e\u5143\uff09\uff0c\u540c\u6bd4\u51cf\u5c119.8%\uff0c\u53bb\u5e74\u540c\u671f\u4e3a5559\u4ebf\u65e5\u5143\u3002MUFG\u7684\u56fd\u5185\u8d37\u6b3e\u4f59\u989d\u57286\u6708\u5e95\u4e0a\u5347\u81f375.8\u4e07\u4ebf\u65e5\u5143\uff0c\u53bb\u5e74\u540c\u671f\u4e3a72.7\u4e07\u4ebf\u65e5\u5143\u3002MUFG\u7684\u56fd\u5185\u5b58\u6b3e\u548c\u8d37\u6b3e\u6536\u76ca\u5dee\u57284\u6708\u81f36\u6708\u5b63\u5ea6\u4e0a\u5347\u81f30.95%\uff0c\u800c\u53bb\u5e74\u540c\u671f\u4e3a0.86%\u3002MUFG\u4ecd\u5728\u8f68\u9053\u4e0a\uff0c\u6709\u671b\u5b9e\u73b0\u51762026\u8d22\u5e742\u4e07\u4ebf\u65e5\u5143\u7684\u5229\u6da6\u9884\u6d4b\uff0c\u5e76\u5e94\u5bf9\u5173\u7a0e\u5e26\u6765\u7684\u4e0d\u786e\u5b9a\u6027\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-box-with-white-text-29.png\" alt=\"A blue and white rectangular box with white text\n\nAI-generated content may be incorrect.\" class=\"wp-image-75361\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-blue-and-white-rectangular-box-with-white-text-29.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-blue-and-white-rectangular-box-with-white-text-29-300x64.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-43.jpeg\" alt=\"A graph on a screen\n\nAI-generated content may be incorrect.\" class=\"wp-image-75362\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-screen-ai-generated-content-may-be-i-43.jpeg 1556w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-screen-ai-generated-content-may-be-i-43-300x119.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-screen-ai-generated-content-may-be-i-43-1024x406.jpeg 1024w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-screen-ai-generated-content-may-be-i-43-768x305.jpeg 768w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-on-a-screen-ai-generated-content-may-be-i-43-1536x609.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-23.png\" class=\"wp-image-75363\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-long-line-of-a-flag-description-automatically-g-23.png 940w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-long-line-of-a-flag-description-automatically-g-23-300x64.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-long-line-of-a-flag-description-automatically-g-23-768x163.png 768w\" sizes=\"(max-width: 940px) 100vw, 940px\" \/><\/figure><strong> <\/strong><\/h3>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Nebius Group NV (NBIS US): \u63d0\u9ad8\u6ee1\u8db3\u9700\u6c42\u7684\u80fd\u529b<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a67 \u76ee\u6807\u4ef7\uff1a75\u6b62\u635f\u4ef7\uff1a63<\/strong><br>  <\/li>\n\n\n\n<li>Nebius Group \u662f\u4e00\u5bb6\u4e3a\u5168\u7403\u4eba\u5de5\u667a\u80fd\u5f00\u53d1\u8005\u63d0\u4f9b\u57fa\u7840\u8bbe\u65bd\u548c\u670d\u52a1\u7684\u79d1\u6280\u516c\u53f8\u3002\u8be5\u96c6\u56e2\u7684\u6838\u5fc3\u4e1a\u52a1 Nebius \u662f\u4e00\u4e2a\u4e13\u4e3a\u4eba\u5de5\u667a\u80fd\u5de5\u4f5c\u8d1f\u8f7d\u800c\u6784\u5efa\u7684\u4ee5\u4eba\u5de5\u667a\u80fd\u4e3a\u4e2d\u5fc3\u7684\u4e91\u5e73\u53f0\u3002Nebius Group \u4e3a\u5168\u7403\u5ba2\u6237\u63d0\u4f9b\u670d\u52a1\u3002<br>  <\/li>\n\n\n\n<li><strong>\u4e0a\u8c03\u9884\u6d4b\uff0c\u9884\u793a\u6301\u7eed\u5f3a\u52b2\u7684\u9700\u6c42\u3002<\/strong>Nebius Group \u516c\u5e03\u7b2c\u4e8c\u5b63\u5ea6\u8425\u6536\u4e3a1.051\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f624.8%\u3002\u516c\u53f8\u9996\u5e2d\u6267\u884c\u5b98 Arkady Volozh \u6307\u51fa\uff0cNebius \u7684\u8425\u6536\u6bd4\u4e0a\u4e00\u5b63\u5ea6\u589e\u957f\u4e86\u4e00\u500d\u4ee5\u4e0a\uff0c\u5e76\u63d0\u524d\u5b9e\u73b0\u4e86\u8c03\u6574\u540e\u7684\u6b63 EBITDA\u3002\u516c\u53f8\u5df2\u5c06\u51762025\u5e74\u5e74\u5ea6\u5316\u8425\u6536\u6307\u5f15\u4e0a\u8c03\u81f39\u4ebf\u81f311\u4ebf\u7f8e\u5143\u4e4b\u95f4\u3002\u8fd9\u4e00\u4e0a\u8c03\u7684\u5c55\u671b\u4e5f\u9884\u793a\u7740\u516c\u53f8\u672a\u6765\u7684\u5f3a\u52b2\u4e1a\u52a1\u52bf\u5934\uff0c\u4ee5\u53ca\u5176\u4e3a\u6ee1\u8db3\u672a\u6765\u9700\u6c42\u800c\u4e0d\u65ad\u6269\u5927\u7684\u80fd\u529b\u3002<br>  <\/li>\n\n\n\n<li><strong>\u79ef\u6781\u6269\u5f20\u6570\u636e\u4e2d\u5fc3\u4ee5\u6ee1\u8db3\u4eba\u5de5\u667a\u80fd\u9700\u6c42\u3002<\/strong>Nebius \u6b63\u5728\u79ef\u6781\u6269\u5927\u5176\u4ea7\u80fd\uff0c\u4ee5\u5e94\u5bf9\u5bf9\u4eba\u5de5\u667a\u80fd\u57fa\u7840\u8bbe\u65bd\u65e5\u76ca\u589e\u957f\u7684\u9700\u6c42\uff0c\u65e8\u5728\u6293\u4f4f\u4eba\u5de5\u667a\u80fd\u7528\u4f8b\u6fc0\u589e\u6240\u5e26\u6765\u7684\u5de8\u5927\u673a\u9047\u3002\u8be5\u516c\u53f8\u5df2\u5ba3\u5e03\u8ba1\u5212\u57282026\u5e74\u5e95\u524d \ud655\ubcf4\u8d85\u8fc71\u5409\u74e6\u7684\u7535\u529b\uff0c\u4ee5\u652f\u6301\u5176\u6570\u636e\u4e2d\u5fc3\u7684\u6269\u5f20\u5de5\u4f5c\u3002\u6b64\u4e3e\u8868\u660e\u516c\u53f8\u81f4\u529b\u4e8e\u6293\u4f4f\u4eba\u5de5\u667a\u80fd\u7b97\u529b\u5e02\u573a\u7684\u5de8\u5927\u673a\u9047\u3002<br>  <\/li>\n\n\n\n<li><strong>25\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u8d22\u62a5\u56de\u987e\u3002<\/strong>Nebius \u8425\u6536\u4e3a1.051\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f624.8%\uff0c\u8d85\u51fa\u9884\u671f390\u4e07\u7f8e\u5143\uff0c\u8c03\u6574\u540e\u51c0\u4e8f\u635f\u4e3a9,150\u4e07\u7f8e\u5143\u3002\u51762025\u5e74\u5e95\u7684\u5e74\u5ea6\u5316\u8425\u6536\u6307\u5f15\u4e0a\u8c03\u81f39\u4ebf\u81f311\u4ebf\u7f8e\u5143\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-box-with-white-text-30.png\" alt=\"A blue and white rectangular box with white text\n\nAI-generated content may be incorrect.\" class=\"wp-image-75364\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-blue-and-white-rectangular-box-with-white-text-30.png 497w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-blue-and-white-rectangular-box-with-white-text-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=\"997\" height=\"575\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-of-a-stock-market-ai-generated-content-ma-3.jpeg\" alt=\"A graph of a stock market\n\nAI-generated content may be incorrect.\" class=\"wp-image-75365\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-of-a-stock-market-ai-generated-content-ma-3.jpeg 997w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-of-a-stock-market-ai-generated-content-ma-3-300x173.jpeg 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/a-graph-of-a-stock-market-ai-generated-content-ma-3-768x443.jpeg 768w\" sizes=\"(max-width: 997px) 100vw, 997px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\">\n  (Source: Bloomberg)\n<a id=\"post-75306-_Hlt181111973\"><\/a><a id=\"post-75306-_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-75306-_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-75306-28.png\" class=\"wp-image-75366\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-75306-28.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-75306-28-300x64.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-75306-29.png\" alt=\"\" class=\"wp-image-75367\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-75306-29.png 602w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-75306-29-300x64.png 300w\" sizes=\"(max-width: 602px) 100vw, 602px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Trading Dashboard Update: <\/strong>Take profit on Trip.com Group Ltd (9961 HK) at HK$545. Add Bumitama Agri Ltd (BAL SP) at S$1.1, Yanlord Land Group (YLLG SP) at S$0.70, Sunny Optical Technology Group (2382 HK) at HK$84.0, BYD Electronic International Co Ltd (285 HK) at HK$38.5, CGN Power Co Ltd (1816 HK) at HK$2.98, and China International Capital Corp Ltd (3908 HK) at HK$21.0. Cut loss on Walmart Inc (WMT US) at US$96 and Geo Energy Resources Ltd (GERL SP) at S$0.355.\n<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"943\" height=\"613\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-75306-30.png\" alt=\"\" class=\"wp-image-75368\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-75306-30.png 943w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-75306-30-300x195.png 300w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/08\/word-image-75306-30-768x499.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 \u5e03\u7c73\u5854\u739b\u519c\u4e1a(BAL SP): \u5e94\u5bf9\u672a\u6765\u7684\u6ce2\u52a8 \u68d5\u6988\u6cb9\u73b0\u8d27\u4ef7\u683c (Source: Bloomberg) (Source: Bloomberg) \u65b0\u52a0\u5761\u4ea4\u6613\u6240\u6709\u9650\u516c\u53f8(SGX SP): \u63a8\u52a8\u65b0\u52a0\u5761\u8d44\u672c\u5e02\u573a\u7684\u589e\u957f (Source: Bloomberg) \u4e2d\u82af\u56fd\u9645\u96c6\u6210\u7535\u8def\u5236\u9020(981 HK)\uff1a\u534a\u5bfc\u4f53\u72ec\u7acb\u6027 (Source: Bloomberg) \u821c\u5b87\u5149\u5b66\u79d1\u6280(\u96c6\u56e2) (2382 HK)\uff1a\u53d7\u76ca\u4e8e iPhone \u7684\u8fdb\u4e00\u6b65\u53d1\u5c55 (Source: Bloomberg) \u4e09\u83f1\u65e5\u8054\u91d1\u878d\u96c6\u56e2(MUFG US): \u5e94\u5bf9\u653f\u7b56\u53d8\u5316\uff0c\u540c\u65f6\u6269\u5c55\u5168\u7403\u96c4\u5fc3 (Source: Bloomberg) Nebius Group NV (NBIS US): \u63d0\u9ad8\u6ee1\u8db3\u9700\u6c42\u7684\u80fd\u529b (Source: Bloomberg) ^ Back To [&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-75306","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 \u5e03\u7c73\u5854\u739b\u519c\u4e1a(BAL SP): \u5e94\u5bf9\u672a\u6765\u7684\u6ce2\u52a8 \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a1.10\uff0c\u76ee\u6807\u4ef7\uff1a1.20\uff0c\u6b62\u635f\u4ef7\uff1a1.05 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2025\u5e74\u4e0a\u534a\u5e74\u4e1a\u7ee9\u56de\u987e\u3002\u6536\u5165\u540c\u6bd4\u589e\u957f28.2%\uff0c\u8fbe\u52309.74\u4e07\u4ebf\u5370\u5c3c\u5362\u6bd4\uff0c\u53bb\u5e74\u540c\u671f\u4e3a7.6\u4e07\u4ebf\u5370\u5c3c\u5362\u6bd4\u3002\u51c0\u5229\u6da6\u589e\u957f47.8%\uff0c\u8fbe\u52301.27\u4e07\u4ebf\u5370\u5c3c\u5362\u6bd4\uff08\u7ea6\u54081\u4ebf\u65b0\u5143\uff09\uff0c\u9ad8\u4e8e2024\u5e74\u4e0a\u534a\u5e748568\u4ebf\u5370\u5c3c\u5362\u6bd4\uff0c2025\u5e74\u4e0a\u534a\u5e74\u7684\u6bcf\u80a1\u6536\u76ca\u4e3a730\u5370\u5c3c\u5362\u6bd4\uff0c\u800c\u524d\u671f\u4e3a494\u5370\u5c3c\u5362\u6bd4\u3002 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u65b0\u52a0\u5761\u4ea4\u6613\u6240\u6709\u9650\u516c\u53f8(SGX SP): \u63a8\u52a8\u65b0\u52a0\u5761\u8d44\u672c\u5e02\u573a\u7684\u589e\u957f \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a15.8\uff0c\u76ee\u6807\u4ef7\uff1a17.2\uff0c\u6b62\u635f\u4ef7\uff1a15.1 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2025\u8d22\u5e74\u4e1a\u7ee9\u56de\u987e\u3002\u5c3d\u7ba12025\u8d22\u5e74\u4e0b\u534a\u5e74\u51c0\u5229\u6da6\u4e0b\u964d2.6%\uff0c\u964d\u81f33.08\u4ebf\u65b0\u5143\uff08\u53bb\u5e74\u4e3a3.163\u4ebf\u65b0\u5143\uff09\uff0c\u65b0\u52a0\u5761\u4ea4\u6613\u6240\u6709\u9650\u516c\u53f8\u62a5\u544a\u4e86\u4e0a\u5e02\u4ee5\u6765\u6700\u9ad8\u7684\u5168\u5e74\u6536\u5165\u548c\u51c0\u5229\u6da6\u30022025\u8d22\u5e74\u6536\u5165\u4e3a13\u4ebf\u65b0\u5143\uff0c\u540c\u6bd4\u589e\u957f11.7%\u3002\u8c03\u6574\u540e\u7684\u5e74\u5ea6\u51c0\u5229\u6da6\u589e\u957f15.9%\uff0c\u8fbe\u52306.095\u4ebf\u65b0\u5143\uff0c\u4e3b\u8981\u53d7\u80a1\u7968\u3001\u8d27\u5e01\u548c\u5546\u54c1\u4ea4\u6613\u91cf\u589e\u52a0\u7684\u63a8\u52a8\u3002SGX\u5ba3\u5e03\u6bcf\u80a1\u6700\u7ec8\u5b63\u5ea6\u80a1\u606f\u4e3a10.5\u5206\uff0c\u6bd4\u53bb\u5e749\u5206\u6709\u6240\u4e0a\u5347\uff0c\u5e76\u8ba1\u5212\u57282026\u8d22\u5e74\u81f32028\u8d22\u5e74\u4e4b\u95f4\u6bcf\u5b63\u5ea6\u589e\u52a00.25\u5206\u7684\u80a1\u606f\u3002 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u4e2d\u82af\u56fd\u9645\u96c6\u6210\u7535\u8def\u5236\u9020(981 HK)\uff1a\u534a\u5bfc\u4f53\u72ec\u7acb\u6027 \u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a60\uff0c\u76ee\u6807\u4ef7\uff1a68\uff0c\u6b62\u635f\u4ef7\uff1a56 \u4e2d\u82af\u56fd\u9645\u96c6\u6210\u7535\u8def\u5236\u9020\u6709\u9650\u516c\u53f8\u662f\u4e00\u5bb6\u4e3b\u8981\u4ece\u4e8b\u96c6\u6210\u7535\u8def\u6676\u5706\u4ee3\u5de5\u4e1a\u52a1\u7684\u6295\u8d44\u63a7\u80a1\u516c\u53f8\u3002\u8be5\u516c\u53f8\u4ece\u4e8b\u7845\u7247\u53ca\u5316\u5408\u7269\u534a\u5bfc\u4f53\u96c6\u6210\u7535\u8def\u6676\u5706\u7684\u5236\u9020\u53ca\u6d4b\u8bd5\u4e1a\u52a1\u3002\u8be5\u516c\u53f8\u8fd8\u63d0\u4f9b\u4e0e\u96c6\u6210\u7535\u8def\u6709\u5173\u7684\u5f00\u53d1\u3001\u8bbe\u8ba1\u53ca\u6280\u672f\u670d\u52a1\u3001\u5149\u63a9\u6a21\u5236\u9020\u3001\u6d4b\u8bd5\u53ca\u9500\u552e\u81ea\u4ea7\u4ea7\u54c1\u4ee5\u53ca\u5176\u4ed6\u670d\u52a1\u3002\u8be5\u516c\u53f8\u5411\u56fd\u5185\u5916\u5ba2\u6237\u63d0\u4f9b\u6676\u5706\u4ee3\u5de5\u4e0e\u6280\u672f\u670d\u52a1\u3002\" \/>\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-29-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\u670829\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 \u5e03\u7c73\u5854\u739b\u519c\u4e1a(BAL SP): \u5e94\u5bf9\u672a\u6765\u7684\u6ce2\u52a8 \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a1.10\uff0c\u76ee\u6807\u4ef7\uff1a1.20\uff0c\u6b62\u635f\u4ef7\uff1a1.05 \u5e03\u7c73\u5854\u739b\u519c\u4e1a\u5728\u5370\u5ea6\u5c3c\u897f\u4e9a\u751f\u4ea7CPO\u548cPK\uff0c\u5176\u6cb9\u68d5 plantations \u4f4d\u4e8e\u8be5\u56fd\u3002\u516c\u53f8\u7684\u4e3b\u8981\u4e1a\u52a1\u6d3b\u52a8\u5305\u62ec\u79cd\u690d\u548c\u91c7\u6536\u6cb9\u68d5\u6811\u3001\u5904\u7406\u6765\u81ea\u6cb9\u68d5 plantations \u7684FFB\u3001\u5176 plasma plantations \u53ca\u7b2c\u4e09\u65b9\u7684CPO\u548cPK\uff0c\u5e76\u5728\u5370\u5ea6\u5c3c\u897f\u4e9a\u9500\u552eCPO\u548cPK\u3002 \u5f3a\u52b2\u7684\u76c8\u5229\u52bf\u5934\u53d7\u76ca\u4e8e\u5b9a\u4ef7\u80fd\u529b\u3002\u5e03\u7c73\u5854\u739b\u519c\u4e1a\u57282025\u5e74\u4e0a\u534a\u5e74\u8868\u73b0\u51fa\u8272\uff0c\u51c0\u5229\u6da6\u540c\u6bd4\u98d9\u534747.8%\u81f31.27\u4e07\u4ebf\u5370\u5c3c\u5362\u6bd4\uff0c\u5f97\u76ca\u4e8e\u575a\u633a\u7684\u68d5\u6988\u6cb9\u4ef7\u683c\u3002\u5c3d\u7ba1CPO\u9500\u552e\u91cf\u7565\u6709\u4e0b\u964d\uff0c\u6536\u5165\u4ecd\u589e\u957f28.2%\u81f39.74\u4e07\u4ebf\u5370\u5c3c\u5362\u6bd4\uff0c\u51f8\u663e\u4e86\u96c6\u56e2\u5229\u7528\u6709\u5229\u4ef7\u683c\u52a8\u6001\u7684\u80fd\u529b\u3002\u68d5\u6988\u4ec1\u4e1a\u52a1\u8868\u73b0\u7a81\u51fa\uff0c\u6536\u5165\u7ffb\u500d\u589e\u957f\uff0c\u56e0\u4ef7\u683c\u4e0a\u6da8\u548c\u9500\u91cf\u589e\u957f\u63d0\u5347\u4e86\u76c8\u5229\u80fd\u529b\u3002\u6bcf\u80a1\u6536\u76ca\u4ece2024\u5e74\u4e0a\u534a\u5e74\u7684494\u5370\u5c3c\u5362\u6bd4\u8dc3\u5347\u81f3730\u5370\u5c3c\u5362\u6bd4\uff0c\u4f7f\u7ba1\u7406\u5c42\u80fd\u591f\u5c06\u4e2d\u671f\u80a1\u606f\u63d0\u9ad8\u4e09\u500d\u81f3\u6bcf\u80a10.0363\u65b0\u5143\uff0c\u8868\u660e\u5f3a\u52b2\u7684\u73b0\u91d1\u751f\u6210\u80fd\u529b\u548c\u5bf9\u8d44\u4ea7\u8d1f\u503a\u8868\u5f3a\u5ea6\u7684\u4fe1\u5fc3\u3002 \u51fa\u53e3\u5e26\u6765\u7684\u884c\u4e1a\u5229\u597d\u3002\u5370\u5ea6\u5c3c\u897f\u4e9a\u7684\u68d5\u6988\u6cb9\u884c\u4e1a\u6b63\u4eab\u53d7\u5f3a\u52b2\u7684\u51fa\u53e3\u589e\u957f\uff0c\u5f97\u76ca\u4e8e\u5168\u7403\u9700\u6c42\u4e0a\u5347\u548c\u6b27\u76df\u8d38\u6613\u9650\u5236\u7684\u653e\u5bbd\u3002\u56fd\u5bb6\u51fa\u53e3\u57282025\u5e74\u4e0a\u534a\u5e74\u540c\u6bd4\u6fc0\u589e\u8fd125%\uff0c\u8fbe\u5230114\u4ebf\u7f8e\u5143\uff0c\u5e73\u5747\u5b9e\u73b0\u4ef7\u683c\u4e0a\u6da822%\u3002\u6700\u8fd1\u4e16\u8d38\u7ec4\u7ec7\u5bf9\u5370\u5ea6\u5c3c\u897f\u4e9a\u6709\u5229\u7684\u88c1\u51b3\uff0c\u9488\u5bf9\u6b27\u76df\u751f\u7269\u67f4\u6cb9\u5173\u7a0e\uff0c\u4ee5\u53ca\u9884\u8ba1\u4e8e2026\u5e74\u6388\u4e88\u6b27\u76df\u6bcf\u5e74100\u4e07\u5428\u514d\u7a0e\u68d5\u6988\u6cb9\u51fa\u53e3\u7684CEPA\u8d38\u6613\u534f\u5b9a\uff0c\u663e\u8457\u589e\u5f3a\u4e86\u957f\u671f\u9700\u6c42\u524d\u666f\u3002\u8fd9\u4e3a\u50cf\u5e03\u7c73\u5854\u739b\u8fd9\u6837\u7684\u751f\u4ea7\u5546\u521b\u9020\u4e86\u66f4\u6709\u5229\u7684\u8d38\u6613\u73af\u5883\uff0c\u5c24\u5176\u662f\u5728\u5bf9\u4e2d\u56fd\u548c\u5370\u5ea6\u7b49\u4e3b\u8981\u4e70\u5bb6\u7684\u53d1\u8d27\u52a0\u901f\u7684\u60c5\u51b5\u4e0b\u3002 \u68d5\u6988\u6cb9\u73b0\u8d27\u4ef7\u683c (Source: Bloomberg) \u77ed\u671f\u4ef7\u683c\u538b\u529b\u88ab\u7ed3\u6784\u6027\u589e\u957f\u62b5\u6d88\u3002\u5c3d\u7ba1\u57fa\u672c\u9762\u5f3a\u52b2\uff0c\u68d5\u6988\u6cb9\u4ef7\u683c\u4ecd\u7136\u53d7\u5230\u6765\u81ea\u7ade\u4e89\u98df\u7528\u6cb9\u3001\u80fd\u6e90\u5e02\u573a\u548c\u5730\u7f18\u653f\u6cbb\u5e72\u6270\u7684\u77ed\u671f\u6ce2\u52a8\u5f71\u54cd\u3002\u7531\u4e8e\u5e93\u5b58\u589e\u52a0\u548c\u539f\u6cb9\u8d70\u5f31\uff0c\u9a6c\u6765\u897f\u4e9aCPO\u671f\u8d27\u8fd1\u671f\u8dcc\u7834\u6bcf\u54284500\u9a6c\u6765\u897f\u4e9a\u6797\u5409\u7279\uff0c\u8fd9\u53ef\u80fd\u6291\u5236\u751f\u7269\u67f4\u6cb9\u7684\u9700\u6c42\u3002\u7136\u800c\uff0c\u5370\u5ea6\u5c3c\u897f\u4e9a\u7684B40\u653f\u7b56\u7ee7\u7eed\u652f\u6491\u7ed3\u6784\u6027\u6d88\u8d39\uff0c\u800c\u5370\u5ea6\u7684\u8282\u65e5\u9700\u6c42\u548c\u5e93\u5b58\u4e0b\u964d\u63d0\u4f9b\u4e86\u7f13\u51b2\u3002\u5e03\u7c73\u5854\u739b\u4e13\u6ce8\u4e8e\u91cd\u65b0\u79cd\u690d\u3001\u4ea7\u91cf\u4f18\u5316\u548c\u6210\u672c\u63a7\u5236\uff0c\u4f7f\u5176\u5728\u5e94\u5bf9\u5468\u671f\u6027\u6ce2\u52a8\u548c\u7ef4\u6301\u7ade\u4e89\u6027\u5229\u6da6\u7387\u65b9\u9762\u5904\u4e8e\u826f\u597d\u4f4d\u7f6e\u3002 2025\u5e74\u4e0a\u534a\u5e74\u4e1a\u7ee9\u56de\u987e\u3002\u6536\u5165\u540c\u6bd4\u589e\u957f28.2%\uff0c\u8fbe\u52309.74\u4e07\u4ebf\u5370\u5c3c\u5362\u6bd4\uff0c\u53bb\u5e74\u540c\u671f\u4e3a7.6\u4e07\u4ebf\u5370\u5c3c\u5362\u6bd4\u3002\u51c0\u5229\u6da6\u589e\u957f47.8%\uff0c\u8fbe\u52301.27\u4e07\u4ebf\u5370\u5c3c\u5362\u6bd4\uff08\u7ea6\u54081\u4ebf\u65b0\u5143\uff09\uff0c\u9ad8\u4e8e2024\u5e74\u4e0a\u534a\u5e748568\u4ebf\u5370\u5c3c\u5362\u6bd4\uff0c2025\u5e74\u4e0a\u534a\u5e74\u7684\u6bcf\u80a1\u6536\u76ca\u4e3a730\u5370\u5c3c\u5362\u6bd4\uff0c\u800c\u524d\u671f\u4e3a494\u5370\u5c3c\u5362\u6bd4\u3002 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u65b0\u52a0\u5761\u4ea4\u6613\u6240\u6709\u9650\u516c\u53f8(SGX SP): \u63a8\u52a8\u65b0\u52a0\u5761\u8d44\u672c\u5e02\u573a\u7684\u589e\u957f \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a15.8\uff0c\u76ee\u6807\u4ef7\uff1a17.2\uff0c\u6b62\u635f\u4ef7\uff1a15.1 \u65b0\u52a0\u5761\u4ea4\u6613\u6240\u6709\u9650\u516c\u53f8\u62e5\u6709\u5e76\u8fd0\u8425\u65b0\u52a0\u5761\u7684\u8bc1\u5238\u548c\u884d\u751f\u54c1\u4ea4\u6613\u6240\u53ca\u5176\u76f8\u5173\u6e05\u7b97\u6240\u3002\u516c\u53f8\u8fd8\u4e3a\u91d1\u878d\u884c\u4e1a\u7684\u53c2\u4e0e\u8005\u63d0\u4f9b\u8f85\u52a9\u8bc1\u5238\u5904\u7406\u548c\u4fe1\u606f\u6280\u672f\u670d\u52a1\u3002 \u521b\u7eaa\u5f55\u7684\u8d22\u52a1\u8868\u73b0\u548c\u6301\u7eed\u7684\u5206\u7ea2\u589e\u957f\u3002\u65b0\u52a0\u5761\u4ea4\u6613\u6240\uff08SGX\uff09\u5b9e\u73b0\u4e86\u4e0a\u5e02\u4ee5\u6765\u6700\u9ad8\u7684\u5168\u5e74\u6536\u5165\u548c\u51c0\u5229\u6da6\uff0c\u5f70\u663e\u5176\u591a\u8d44\u4ea7\u6218\u7565\u548c\u4e25\u683c\u6267\u884c\u7684\u6210\u529f\u3002\u5c3d\u7ba1\u4e0b\u534a\u5e74\u6536\u76ca\u7565\u6709\u4e0b\u964d\uff0c\u4f46\u5168\u5e74\u5229\u6da6\u589e\u957f8.4%\uff0c\u63a5\u8fd16.48\u4ebf\u65b0\u5143\uff0c\u5f97\u76ca\u4e8e\u80a1\u7968\u3001\u56fa\u5b9a\u6536\u76ca\u3001\u8d27\u5e01\u548c\u5546\u54c1\u7684\u5e7f\u6cdb\u589e\u957f\u3002\u540c\u65f6\uff0cSGX\u7ee7\u7eed\u901a\u8fc7\u6e10\u8fdb\u7684\u5206\u7ea2\u653f\u7b56\u589e\u5f3a\u80a1\u4e1c\u56de\u62a5\uff0c\u5305\u62ec\u57282026\u8d22\u5e74\u81f32028\u8d22\u5e74\u4e4b\u95f4\u6bcf\u5b63\u5ea6\u7a33\u5b9a\u589e\u52a00.0025\u65b0\u5143\u3002\u8463\u4e8b\u4f1a\u5ba3\u5e03\u6bcf\u80a1\u6700\u7ec8\u5b63\u5ea6\u80a1\u606f\u4e3a0.105\u65b0\u5143\uff0c\u4f7f2025\u8d22\u5e74\u7684\u603b\u652f\u4ed8\u63d0\u9ad8\u81f30.375\u65b0\u5143\uff0c\u53cd\u6620\u51fa\u5e74\u5316\u589e\u957f8.7%\u3002\u8fd9\u4e00\u521b\u7eaa\u5f55\u7684\u6536\u76ca\u52bf\u5934\u4e0e\u53ef\u9760\u7684\u5206\u7ea2\u589e\u957f\u76f8\u7ed3\u5408\uff0c\u589e\u5f3a\u4e86SGX\u5728\u5168\u7403\u5e02\u573a\u6ce2\u52a8\u4e2d\u7684\u9632\u5fa1\u6027\u548c\u6536\u76ca\u6027\u6295\u8d44\u5730\u4f4d\u3002 \u4e0d\u65ad\u589e\u957f\u7684IPO\u7ba1\u9053\u548c\u4ea7\u54c1\u521b\u65b0\u3002SGX\u51c6\u5907\u901a\u8fc7\u5f3a\u5927\u7684IPO\u7ba1\u9053\u6355\u83b7\u66f4\u591a\u589e\u957f\uff0c\u8fd9\u662f\u591a\u5e74\u6765\u6700\u5f3a\u52b2\u7684\uff0c\u5f97\u76ca\u4e8e\u653f\u5e9c\u6fc0\u52b1\u63aa\u65bd\u548c\u5e02\u573a\u6d41\u52a8\u6027\u7684\u589e\u5f3a\u3002\u8d85\u8fc730\u5bb6\u516c\u53f8\u6b63\u5728\u79ef\u6781\u51c6\u5907\u4e0a\u5e02\uff0c\u7a81\u663e\u51fa\u5bf9\u65b0\u52a0\u5761\u8d44\u672c\u5e02\u573a\u7684 renewed \u4fe1\u5fc3\u3002\u540c\u65f6\uff0cSGX\u6b63\u5728\u6269\u5c55\u521b\u65b0\u4ea7\u54c1\uff0c\u4f8b\u5982\u4e0e\u4e1c\u76df\u5e02\u573a\u76f8\u5173\u7684SGX\u5b58\u6258\u51ed\u8bc1\uff08SDRs\uff09\u548c\u6d3b\u8dc3\u7684ETF\u4e0a\u5e02\uff0c\u4f7f\u6295\u8d44\u8005\u80fd\u591f\u66f4\u6709\u6548\u5730\u5b9e\u73b0\u6295\u8d44\u7ec4\u5408\u591a\u6837\u5316\u3002\u8fd9\u4e9b\u52aa\u529b\u7ed3\u5408\u6301\u7eed\u7684\u6280\u672f\u589e\u5f3a\u548c\u4ea7\u54c1\u521b\u65b0\uff0c\u5de9\u56fa\u4e86SGX\u4f5c\u4e3a\u4e9a\u6d32\u9996\u5c48\u4e00\u6307\u7684\u591a\u8d44\u4ea7\u4ea4\u6613\u6240\u548c\u5168\u7403\u8d44\u672c\u6d41\u52a8\u4e2d\u5fc3\u7684\u89d2\u8272\u3002 \u91cd\u632f\u65b0\u52a0\u5761\u7684\u80a1\u7968\u751f\u6001\u7cfb\u7edf\u3002\u65b0\u52a0\u576150\u4ebf\u65b0\u52a0\u5761\u5143\u7684\u80a1\u5e02\u53d1\u5c55\u8ba1\u5212\uff0c\u7531\u65b0\u52a0\u5761\u91d1\u878d\u7ba1\u7406\u5c40\uff08MAS\uff09\u4e3b\u5bfc\uff0c\u4ee3\u8868\u7740\u5bf9\u632f\u5174\u672c\u5730\u80a1\u7968\u5e02\u573a\u7684\u91cd\u8981\u6218\u7565\u627f\u8bfa\uff0c\u5c24\u5176\u662f\u901a\u8fc7\u589e\u5f3a\u6d41\u52a8\u6027\u3001\u7814\u7a76\u548c\u6295\u8d44\u8005\u53c2\u4e0e\u3002\u6700\u521d\u5411Avanda\u6295\u8d44\u7ba1\u7406\u3001\u5bcc\u6566\u57fa\u91d1\u7ba1\u7406\u548c\u6469\u6839\u5927\u901a\u8d44\u4ea7\u7ba1\u7406\u5206\u914d\u768411\u4ebf\u65b0\u52a0\u5761\u5143\u53cd\u6620\u4e86\u5f3a\u5927\u7684\u673a\u6784\u652f\u6301\uff0c\u5e76\u4e3a\u652f\u6301SGX\u4e0a\u8f83\u5c11\u4ee3\u8868\u7684\u5c0f\u578b\u548c\u4e2d\u578b\u516c\u53f8\u7684\u57fa\u7840\u5960\u5b9a\u4e86\u57fa\u7840\u3002\u8fd9\u4e9b\u52aa\u529b\u4e0d\u4ec5\u65e8\u5728\u63d0\u5347\u4f30\u503c\u548c\u4ea4\u6613\u6d3b\u52a8\uff0c\u8fd8\u5e0c\u671b\u5438\u5f15\u65b0\u4e00\u4ee3\u9ad8\u8d28\u91cf\u4e0a\u5e02\u516c\u53f8\uff0c\u4fc3\u8fdb\u66f4\u5177\u6d3b\u529b\u548c\u97e7\u6027\u7684\u8d44\u672c\u5e02\u573a\u751f\u6001\u7cfb\u7edf\u3002\u8fd1\u671f\u6d77\u5ce1\u65f6\u62a5\u6307\u6570\u521b\u4e0b\u65b0\u9ad8\uff0c\u4f34\u968f\u4ea4\u6613\u91cf\u589e\u52a0\u548c\u9996\u6b21\u516c\u5f00\u52df\u80a1\uff08IPO\uff09\u52bf\u5934\u6062\u590d\uff0c\u8868\u660e\u6295\u8d44\u8005\u5bf9SGX\u524d\u666f\u7684\u4fe1\u5fc3\u589e\u5f3a\u3002\u5c3d\u7ba1\u5728\u8d44\u91d1\u90e8\u7f72\u7b56\u7565\u65b9\u9762\u4ecd\u9700\u66f4\u900f\u660e\uff0c\u4f46\u66f4\u5e7f\u6cdb\u7684\u6539\u9769\u6b63\u5728\u91ca\u653e\u80a1\u4e1c\u4ef7\u503c\uff0c\u4f7f\u5e02\u573a\u66f4\u6613\u4e8e\u8fdb\u5165\u3002\u968f\u7740\u65f6\u95f4\u7684\u63a8\u79fb\uff0c\u8fd9\u4e9b\u4e3e\u63aa\u5e94\u7f29\u5c0f\u4e0e\u5730\u533a\u540c\u884c\u7684\u4f30\u503c\u5dee\u8ddd\uff0c\u589e\u52a0\u878d\u8d44\u673a\u4f1a\uff0c\u5e76\u63d0\u5347\u65b0\u52a0\u5761\u4f5c\u4e3a\u7ade\u4e89\u529b\u548c\u52a8\u6001\u91d1\u878d\u4e2d\u5fc3\u7684\u5730\u4f4d\u3002 2025\u8d22\u5e74\u4e1a\u7ee9\u56de\u987e\u3002\u5c3d\u7ba12025\u8d22\u5e74\u4e0b\u534a\u5e74\u51c0\u5229\u6da6\u4e0b\u964d2.6%\uff0c\u964d\u81f33.08\u4ebf\u65b0\u5143\uff08\u53bb\u5e74\u4e3a3.163\u4ebf\u65b0\u5143\uff09\uff0c\u65b0\u52a0\u5761\u4ea4\u6613\u6240\u6709\u9650\u516c\u53f8\u62a5\u544a\u4e86\u4e0a\u5e02\u4ee5\u6765\u6700\u9ad8\u7684\u5168\u5e74\u6536\u5165\u548c\u51c0\u5229\u6da6\u30022025\u8d22\u5e74\u6536\u5165\u4e3a13\u4ebf\u65b0\u5143\uff0c\u540c\u6bd4\u589e\u957f11.7%\u3002\u8c03\u6574\u540e\u7684\u5e74\u5ea6\u51c0\u5229\u6da6\u589e\u957f15.9%\uff0c\u8fbe\u52306.095\u4ebf\u65b0\u5143\uff0c\u4e3b\u8981\u53d7\u80a1\u7968\u3001\u8d27\u5e01\u548c\u5546\u54c1\u4ea4\u6613\u91cf\u589e\u52a0\u7684\u63a8\u52a8\u3002SGX\u5ba3\u5e03\u6bcf\u80a1\u6700\u7ec8\u5b63\u5ea6\u80a1\u606f\u4e3a10.5\u5206\uff0c\u6bd4\u53bb\u5e749\u5206\u6709\u6240\u4e0a\u5347\uff0c\u5e76\u8ba1\u5212\u57282026\u8d22\u5e74\u81f32028\u8d22\u5e74\u4e4b\u95f4\u6bcf\u5b63\u5ea6\u589e\u52a00.25\u5206\u7684\u80a1\u606f\u3002 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u4e2d\u82af\u56fd\u9645\u96c6\u6210\u7535\u8def\u5236\u9020(981 HK)\uff1a\u534a\u5bfc\u4f53\u72ec\u7acb\u6027 \u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a60\uff0c\u76ee\u6807\u4ef7\uff1a68\uff0c\u6b62\u635f\u4ef7\uff1a56 \u4e2d\u82af\u56fd\u9645\u96c6\u6210\u7535\u8def\u5236\u9020\u6709\u9650\u516c\u53f8\u662f\u4e00\u5bb6\u4e3b\u8981\u4ece\u4e8b\u96c6\u6210\u7535\u8def\u6676\u5706\u4ee3\u5de5\u4e1a\u52a1\u7684\u6295\u8d44\u63a7\u80a1\u516c\u53f8\u3002\u8be5\u516c\u53f8\u4ece\u4e8b\u7845\u7247\u53ca\u5316\u5408\u7269\u534a\u5bfc\u4f53\u96c6\u6210\u7535\u8def\u6676\u5706\u7684\u5236\u9020\u53ca\u6d4b\u8bd5\u4e1a\u52a1\u3002\u8be5\u516c\u53f8\u8fd8\u63d0\u4f9b\u4e0e\u96c6\u6210\u7535\u8def\u6709\u5173\u7684\u5f00\u53d1\u3001\u8bbe\u8ba1\u53ca\u6280\u672f\u670d\u52a1\u3001\u5149\u63a9\u6a21\u5236\u9020\u3001\u6d4b\u8bd5\u53ca\u9500\u552e\u81ea\u4ea7\u4ea7\u54c1\u4ee5\u53ca\u5176\u4ed6\u670d\u52a1\u3002\u8be5\u516c\u53f8\u5411\u56fd\u5185\u5916\u5ba2\u6237\u63d0\u4f9b\u6676\u5706\u4ee3\u5de5\u4e0e\u6280\u672f\u670d\u52a1\u3002\" \/>\n\t\t<meta property=\"og:url\" content=\"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-29-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=\"2025-08-29T00:44:16+00:00\" \/>\n\t\t<meta property=\"article:modified_time\" content=\"2025-08-29T02:26:13+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\u670829\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 \u5e03\u7c73\u5854\u739b\u519c\u4e1a(BAL SP): \u5e94\u5bf9\u672a\u6765\u7684\u6ce2\u52a8 \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a1.10\uff0c\u76ee\u6807\u4ef7\uff1a1.20\uff0c\u6b62\u635f\u4ef7\uff1a1.05 \u5e03\u7c73\u5854\u739b\u519c\u4e1a\u5728\u5370\u5ea6\u5c3c\u897f\u4e9a\u751f\u4ea7CPO\u548cPK\uff0c\u5176\u6cb9\u68d5 plantations \u4f4d\u4e8e\u8be5\u56fd\u3002\u516c\u53f8\u7684\u4e3b\u8981\u4e1a\u52a1\u6d3b\u52a8\u5305\u62ec\u79cd\u690d\u548c\u91c7\u6536\u6cb9\u68d5\u6811\u3001\u5904\u7406\u6765\u81ea\u6cb9\u68d5 plantations \u7684FFB\u3001\u5176 plasma plantations \u53ca\u7b2c\u4e09\u65b9\u7684CPO\u548cPK\uff0c\u5e76\u5728\u5370\u5ea6\u5c3c\u897f\u4e9a\u9500\u552eCPO\u548cPK\u3002 \u5f3a\u52b2\u7684\u76c8\u5229\u52bf\u5934\u53d7\u76ca\u4e8e\u5b9a\u4ef7\u80fd\u529b\u3002\u5e03\u7c73\u5854\u739b\u519c\u4e1a\u57282025\u5e74\u4e0a\u534a\u5e74\u8868\u73b0\u51fa\u8272\uff0c\u51c0\u5229\u6da6\u540c\u6bd4\u98d9\u534747.8%\u81f31.27\u4e07\u4ebf\u5370\u5c3c\u5362\u6bd4\uff0c\u5f97\u76ca\u4e8e\u575a\u633a\u7684\u68d5\u6988\u6cb9\u4ef7\u683c\u3002\u5c3d\u7ba1CPO\u9500\u552e\u91cf\u7565\u6709\u4e0b\u964d\uff0c\u6536\u5165\u4ecd\u589e\u957f28.2%\u81f39.74\u4e07\u4ebf\u5370\u5c3c\u5362\u6bd4\uff0c\u51f8\u663e\u4e86\u96c6\u56e2\u5229\u7528\u6709\u5229\u4ef7\u683c\u52a8\u6001\u7684\u80fd\u529b\u3002\u68d5\u6988\u4ec1\u4e1a\u52a1\u8868\u73b0\u7a81\u51fa\uff0c\u6536\u5165\u7ffb\u500d\u589e\u957f\uff0c\u56e0\u4ef7\u683c\u4e0a\u6da8\u548c\u9500\u91cf\u589e\u957f\u63d0\u5347\u4e86\u76c8\u5229\u80fd\u529b\u3002\u6bcf\u80a1\u6536\u76ca\u4ece2024\u5e74\u4e0a\u534a\u5e74\u7684494\u5370\u5c3c\u5362\u6bd4\u8dc3\u5347\u81f3730\u5370\u5c3c\u5362\u6bd4\uff0c\u4f7f\u7ba1\u7406\u5c42\u80fd\u591f\u5c06\u4e2d\u671f\u80a1\u606f\u63d0\u9ad8\u4e09\u500d\u81f3\u6bcf\u80a10.0363\u65b0\u5143\uff0c\u8868\u660e\u5f3a\u52b2\u7684\u73b0\u91d1\u751f\u6210\u80fd\u529b\u548c\u5bf9\u8d44\u4ea7\u8d1f\u503a\u8868\u5f3a\u5ea6\u7684\u4fe1\u5fc3\u3002 \u51fa\u53e3\u5e26\u6765\u7684\u884c\u4e1a\u5229\u597d\u3002\u5370\u5ea6\u5c3c\u897f\u4e9a\u7684\u68d5\u6988\u6cb9\u884c\u4e1a\u6b63\u4eab\u53d7\u5f3a\u52b2\u7684\u51fa\u53e3\u589e\u957f\uff0c\u5f97\u76ca\u4e8e\u5168\u7403\u9700\u6c42\u4e0a\u5347\u548c\u6b27\u76df\u8d38\u6613\u9650\u5236\u7684\u653e\u5bbd\u3002\u56fd\u5bb6\u51fa\u53e3\u57282025\u5e74\u4e0a\u534a\u5e74\u540c\u6bd4\u6fc0\u589e\u8fd125%\uff0c\u8fbe\u5230114\u4ebf\u7f8e\u5143\uff0c\u5e73\u5747\u5b9e\u73b0\u4ef7\u683c\u4e0a\u6da822%\u3002\u6700\u8fd1\u4e16\u8d38\u7ec4\u7ec7\u5bf9\u5370\u5ea6\u5c3c\u897f\u4e9a\u6709\u5229\u7684\u88c1\u51b3\uff0c\u9488\u5bf9\u6b27\u76df\u751f\u7269\u67f4\u6cb9\u5173\u7a0e\uff0c\u4ee5\u53ca\u9884\u8ba1\u4e8e2026\u5e74\u6388\u4e88\u6b27\u76df\u6bcf\u5e74100\u4e07\u5428\u514d\u7a0e\u68d5\u6988\u6cb9\u51fa\u53e3\u7684CEPA\u8d38\u6613\u534f\u5b9a\uff0c\u663e\u8457\u589e\u5f3a\u4e86\u957f\u671f\u9700\u6c42\u524d\u666f\u3002\u8fd9\u4e3a\u50cf\u5e03\u7c73\u5854\u739b\u8fd9\u6837\u7684\u751f\u4ea7\u5546\u521b\u9020\u4e86\u66f4\u6709\u5229\u7684\u8d38\u6613\u73af\u5883\uff0c\u5c24\u5176\u662f\u5728\u5bf9\u4e2d\u56fd\u548c\u5370\u5ea6\u7b49\u4e3b\u8981\u4e70\u5bb6\u7684\u53d1\u8d27\u52a0\u901f\u7684\u60c5\u51b5\u4e0b\u3002 \u68d5\u6988\u6cb9\u73b0\u8d27\u4ef7\u683c (Source: Bloomberg) \u77ed\u671f\u4ef7\u683c\u538b\u529b\u88ab\u7ed3\u6784\u6027\u589e\u957f\u62b5\u6d88\u3002\u5c3d\u7ba1\u57fa\u672c\u9762\u5f3a\u52b2\uff0c\u68d5\u6988\u6cb9\u4ef7\u683c\u4ecd\u7136\u53d7\u5230\u6765\u81ea\u7ade\u4e89\u98df\u7528\u6cb9\u3001\u80fd\u6e90\u5e02\u573a\u548c\u5730\u7f18\u653f\u6cbb\u5e72\u6270\u7684\u77ed\u671f\u6ce2\u52a8\u5f71\u54cd\u3002\u7531\u4e8e\u5e93\u5b58\u589e\u52a0\u548c\u539f\u6cb9\u8d70\u5f31\uff0c\u9a6c\u6765\u897f\u4e9aCPO\u671f\u8d27\u8fd1\u671f\u8dcc\u7834\u6bcf\u54284500\u9a6c\u6765\u897f\u4e9a\u6797\u5409\u7279\uff0c\u8fd9\u53ef\u80fd\u6291\u5236\u751f\u7269\u67f4\u6cb9\u7684\u9700\u6c42\u3002\u7136\u800c\uff0c\u5370\u5ea6\u5c3c\u897f\u4e9a\u7684B40\u653f\u7b56\u7ee7\u7eed\u652f\u6491\u7ed3\u6784\u6027\u6d88\u8d39\uff0c\u800c\u5370\u5ea6\u7684\u8282\u65e5\u9700\u6c42\u548c\u5e93\u5b58\u4e0b\u964d\u63d0\u4f9b\u4e86\u7f13\u51b2\u3002\u5e03\u7c73\u5854\u739b\u4e13\u6ce8\u4e8e\u91cd\u65b0\u79cd\u690d\u3001\u4ea7\u91cf\u4f18\u5316\u548c\u6210\u672c\u63a7\u5236\uff0c\u4f7f\u5176\u5728\u5e94\u5bf9\u5468\u671f\u6027\u6ce2\u52a8\u548c\u7ef4\u6301\u7ade\u4e89\u6027\u5229\u6da6\u7387\u65b9\u9762\u5904\u4e8e\u826f\u597d\u4f4d\u7f6e\u3002 2025\u5e74\u4e0a\u534a\u5e74\u4e1a\u7ee9\u56de\u987e\u3002\u6536\u5165\u540c\u6bd4\u589e\u957f28.2%\uff0c\u8fbe\u52309.74\u4e07\u4ebf\u5370\u5c3c\u5362\u6bd4\uff0c\u53bb\u5e74\u540c\u671f\u4e3a7.6\u4e07\u4ebf\u5370\u5c3c\u5362\u6bd4\u3002\u51c0\u5229\u6da6\u589e\u957f47.8%\uff0c\u8fbe\u52301.27\u4e07\u4ebf\u5370\u5c3c\u5362\u6bd4\uff08\u7ea6\u54081\u4ebf\u65b0\u5143\uff09\uff0c\u9ad8\u4e8e2024\u5e74\u4e0a\u534a\u5e748568\u4ebf\u5370\u5c3c\u5362\u6bd4\uff0c2025\u5e74\u4e0a\u534a\u5e74\u7684\u6bcf\u80a1\u6536\u76ca\u4e3a730\u5370\u5c3c\u5362\u6bd4\uff0c\u800c\u524d\u671f\u4e3a494\u5370\u5c3c\u5362\u6bd4\u3002 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u65b0\u52a0\u5761\u4ea4\u6613\u6240\u6709\u9650\u516c\u53f8(SGX SP): \u63a8\u52a8\u65b0\u52a0\u5761\u8d44\u672c\u5e02\u573a\u7684\u589e\u957f \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a15.8\uff0c\u76ee\u6807\u4ef7\uff1a17.2\uff0c\u6b62\u635f\u4ef7\uff1a15.1 \u65b0\u52a0\u5761\u4ea4\u6613\u6240\u6709\u9650\u516c\u53f8\u62e5\u6709\u5e76\u8fd0\u8425\u65b0\u52a0\u5761\u7684\u8bc1\u5238\u548c\u884d\u751f\u54c1\u4ea4\u6613\u6240\u53ca\u5176\u76f8\u5173\u6e05\u7b97\u6240\u3002\u516c\u53f8\u8fd8\u4e3a\u91d1\u878d\u884c\u4e1a\u7684\u53c2\u4e0e\u8005\u63d0\u4f9b\u8f85\u52a9\u8bc1\u5238\u5904\u7406\u548c\u4fe1\u606f\u6280\u672f\u670d\u52a1\u3002 \u521b\u7eaa\u5f55\u7684\u8d22\u52a1\u8868\u73b0\u548c\u6301\u7eed\u7684\u5206\u7ea2\u589e\u957f\u3002\u65b0\u52a0\u5761\u4ea4\u6613\u6240\uff08SGX\uff09\u5b9e\u73b0\u4e86\u4e0a\u5e02\u4ee5\u6765\u6700\u9ad8\u7684\u5168\u5e74\u6536\u5165\u548c\u51c0\u5229\u6da6\uff0c\u5f70\u663e\u5176\u591a\u8d44\u4ea7\u6218\u7565\u548c\u4e25\u683c\u6267\u884c\u7684\u6210\u529f\u3002\u5c3d\u7ba1\u4e0b\u534a\u5e74\u6536\u76ca\u7565\u6709\u4e0b\u964d\uff0c\u4f46\u5168\u5e74\u5229\u6da6\u589e\u957f8.4%\uff0c\u63a5\u8fd16.48\u4ebf\u65b0\u5143\uff0c\u5f97\u76ca\u4e8e\u80a1\u7968\u3001\u56fa\u5b9a\u6536\u76ca\u3001\u8d27\u5e01\u548c\u5546\u54c1\u7684\u5e7f\u6cdb\u589e\u957f\u3002\u540c\u65f6\uff0cSGX\u7ee7\u7eed\u901a\u8fc7\u6e10\u8fdb\u7684\u5206\u7ea2\u653f\u7b56\u589e\u5f3a\u80a1\u4e1c\u56de\u62a5\uff0c\u5305\u62ec\u57282026\u8d22\u5e74\u81f32028\u8d22\u5e74\u4e4b\u95f4\u6bcf\u5b63\u5ea6\u7a33\u5b9a\u589e\u52a00.0025\u65b0\u5143\u3002\u8463\u4e8b\u4f1a\u5ba3\u5e03\u6bcf\u80a1\u6700\u7ec8\u5b63\u5ea6\u80a1\u606f\u4e3a0.105\u65b0\u5143\uff0c\u4f7f2025\u8d22\u5e74\u7684\u603b\u652f\u4ed8\u63d0\u9ad8\u81f30.375\u65b0\u5143\uff0c\u53cd\u6620\u51fa\u5e74\u5316\u589e\u957f8.7%\u3002\u8fd9\u4e00\u521b\u7eaa\u5f55\u7684\u6536\u76ca\u52bf\u5934\u4e0e\u53ef\u9760\u7684\u5206\u7ea2\u589e\u957f\u76f8\u7ed3\u5408\uff0c\u589e\u5f3a\u4e86SGX\u5728\u5168\u7403\u5e02\u573a\u6ce2\u52a8\u4e2d\u7684\u9632\u5fa1\u6027\u548c\u6536\u76ca\u6027\u6295\u8d44\u5730\u4f4d\u3002 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2025\u8d22\u5e74\u4e1a\u7ee9\u56de\u987e\u3002\u5c3d\u7ba12025\u8d22\u5e74\u4e0b\u534a\u5e74\u51c0\u5229\u6da6\u4e0b\u964d2.6%\uff0c\u964d\u81f33.08\u4ebf\u65b0\u5143\uff08\u53bb\u5e74\u4e3a3.163\u4ebf\u65b0\u5143\uff09\uff0c\u65b0\u52a0\u5761\u4ea4\u6613\u6240\u6709\u9650\u516c\u53f8\u62a5\u544a\u4e86\u4e0a\u5e02\u4ee5\u6765\u6700\u9ad8\u7684\u5168\u5e74\u6536\u5165\u548c\u51c0\u5229\u6da6\u30022025\u8d22\u5e74\u6536\u5165\u4e3a13\u4ebf\u65b0\u5143\uff0c\u540c\u6bd4\u589e\u957f11.7%\u3002\u8c03\u6574\u540e\u7684\u5e74\u5ea6\u51c0\u5229\u6da6\u589e\u957f15.9%\uff0c\u8fbe\u52306.095\u4ebf\u65b0\u5143\uff0c\u4e3b\u8981\u53d7\u80a1\u7968\u3001\u8d27\u5e01\u548c\u5546\u54c1\u4ea4\u6613\u91cf\u589e\u52a0\u7684\u63a8\u52a8\u3002SGX\u5ba3\u5e03\u6bcf\u80a1\u6700\u7ec8\u5b63\u5ea6\u80a1\u606f\u4e3a10.5\u5206\uff0c\u6bd4\u53bb\u5e749\u5206\u6709\u6240\u4e0a\u5347\uff0c\u5e76\u8ba1\u5212\u57282026\u8d22\u5e74\u81f32028\u8d22\u5e74\u4e4b\u95f4\u6bcf\u5b63\u5ea6\u589e\u52a00.25\u5206\u7684\u80a1\u606f\u3002 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u4e2d\u82af\u56fd\u9645\u96c6\u6210\u7535\u8def\u5236\u9020(981 HK)\uff1a\u534a\u5bfc\u4f53\u72ec\u7acb\u6027 \u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a60\uff0c\u76ee\u6807\u4ef7\uff1a68\uff0c\u6b62\u635f\u4ef7\uff1a56 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2025\u5e74\u4e0a\u534a\u5e74\u4e1a\u7ee9\u56de\u987e\u3002\u6536\u5165\u540c\u6bd4\u589e\u957f28.2%\uff0c\u8fbe\u52309.74\u4e07\u4ebf\u5370\u5c3c\u5362\u6bd4\uff0c\u53bb\u5e74\u540c\u671f\u4e3a7.6\u4e07\u4ebf\u5370\u5c3c\u5362\u6bd4\u3002\u51c0\u5229\u6da6\u589e\u957f47.8%\uff0c\u8fbe\u52301.27\u4e07\u4ebf\u5370\u5c3c\u5362\u6bd4\uff08\u7ea6\u54081\u4ebf\u65b0\u5143\uff09\uff0c\u9ad8\u4e8e2024\u5e74\u4e0a\u534a\u5e748568\u4ebf\u5370\u5c3c\u5362\u6bd4\uff0c2025\u5e74\u4e0a\u534a\u5e74\u7684\u6bcf\u80a1\u6536\u76ca\u4e3a730\u5370\u5c3c\u5362\u6bd4\uff0c\u800c\u524d\u671f\u4e3a494\u5370\u5c3c\u5362\u6bd4\u3002 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u65b0\u52a0\u5761\u4ea4\u6613\u6240\u6709\u9650\u516c\u53f8(SGX SP): \u63a8\u52a8\u65b0\u52a0\u5761\u8d44\u672c\u5e02\u573a\u7684\u589e\u957f \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a15.8\uff0c\u76ee\u6807\u4ef7\uff1a17.2\uff0c\u6b62\u635f\u4ef7\uff1a15.1 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\u68d5\u6988\u6cb9\u73b0\u8d27\u4ef7\u683c (Source: Bloomberg) 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2025\u5e74\u4e0a\u534a\u5e74\u4e1a\u7ee9\u56de\u987e\u3002\u6536\u5165\u540c\u6bd4\u589e\u957f28.2%\uff0c\u8fbe\u52309.74\u4e07\u4ebf\u5370\u5c3c\u5362\u6bd4\uff0c\u53bb\u5e74\u540c\u671f\u4e3a7.6\u4e07\u4ebf\u5370\u5c3c\u5362\u6bd4\u3002\u51c0\u5229\u6da6\u589e\u957f47.8%\uff0c\u8fbe\u52301.27\u4e07\u4ebf\u5370\u5c3c\u5362\u6bd4\uff08\u7ea6\u54081\u4ebf\u65b0\u5143\uff09\uff0c\u9ad8\u4e8e2024\u5e74\u4e0a\u534a\u5e748568\u4ebf\u5370\u5c3c\u5362\u6bd4\uff0c2025\u5e74\u4e0a\u534a\u5e74\u7684\u6bcf\u80a1\u6536\u76ca\u4e3a730\u5370\u5c3c\u5362\u6bd4\uff0c\u800c\u524d\u671f\u4e3a494\u5370\u5c3c\u5362\u6bd4\u3002 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u65b0\u52a0\u5761\u4ea4\u6613\u6240\u6709\u9650\u516c\u53f8(SGX SP): \u63a8\u52a8\u65b0\u52a0\u5761\u8d44\u672c\u5e02\u573a\u7684\u589e\u957f \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a15.8\uff0c\u76ee\u6807\u4ef7\uff1a17.2\uff0c\u6b62\u635f\u4ef7\uff1a15.1 \u65b0\u52a0\u5761\u4ea4\u6613\u6240\u6709\u9650\u516c\u53f8\u62e5\u6709\u5e76\u8fd0\u8425\u65b0\u52a0\u5761\u7684\u8bc1\u5238\u548c\u884d\u751f\u54c1\u4ea4\u6613\u6240\u53ca\u5176\u76f8\u5173\u6e05\u7b97\u6240\u3002\u516c\u53f8\u8fd8\u4e3a\u91d1\u878d\u884c\u4e1a\u7684\u53c2\u4e0e\u8005\u63d0\u4f9b\u8f85\u52a9\u8bc1\u5238\u5904\u7406\u548c\u4fe1\u606f\u6280\u672f\u670d\u52a1\u3002 \u521b\u7eaa\u5f55\u7684\u8d22\u52a1\u8868\u73b0\u548c\u6301\u7eed\u7684\u5206\u7ea2\u589e\u957f\u3002\u65b0\u52a0\u5761\u4ea4\u6613\u6240\uff08SGX\uff09\u5b9e\u73b0\u4e86\u4e0a\u5e02\u4ee5\u6765\u6700\u9ad8\u7684\u5168\u5e74\u6536\u5165\u548c\u51c0\u5229\u6da6\uff0c\u5f70\u663e\u5176\u591a\u8d44\u4ea7\u6218\u7565\u548c\u4e25\u683c\u6267\u884c\u7684\u6210\u529f\u3002\u5c3d\u7ba1\u4e0b\u534a\u5e74\u6536\u76ca\u7565\u6709\u4e0b\u964d\uff0c\u4f46\u5168\u5e74\u5229\u6da6\u589e\u957f8.4%\uff0c\u63a5\u8fd16.48\u4ebf\u65b0\u5143\uff0c\u5f97\u76ca\u4e8e\u80a1\u7968\u3001\u56fa\u5b9a\u6536\u76ca\u3001\u8d27\u5e01\u548c\u5546\u54c1\u7684\u5e7f\u6cdb\u589e\u957f\u3002\u540c\u65f6\uff0cSGX\u7ee7\u7eed\u901a\u8fc7\u6e10\u8fdb\u7684\u5206\u7ea2\u653f\u7b56\u589e\u5f3a\u80a1\u4e1c\u56de\u62a5\uff0c\u5305\u62ec\u57282026\u8d22\u5e74\u81f32028\u8d22\u5e74\u4e4b\u95f4\u6bcf\u5b63\u5ea6\u7a33\u5b9a\u589e\u52a00.0025\u65b0\u5143\u3002\u8463\u4e8b\u4f1a\u5ba3\u5e03\u6bcf\u80a1\u6700\u7ec8\u5b63\u5ea6\u80a1\u606f\u4e3a0.105\u65b0\u5143\uff0c\u4f7f2025\u8d22\u5e74\u7684\u603b\u652f\u4ed8\u63d0\u9ad8\u81f30.375\u65b0\u5143\uff0c\u53cd\u6620\u51fa\u5e74\u5316\u589e\u957f8.7%\u3002\u8fd9\u4e00\u521b\u7eaa\u5f55\u7684\u6536\u76ca\u52bf\u5934\u4e0e\u53ef\u9760\u7684\u5206\u7ea2\u589e\u957f\u76f8\u7ed3\u5408\uff0c\u589e\u5f3a\u4e86SGX\u5728\u5168\u7403\u5e02\u573a\u6ce2\u52a8\u4e2d\u7684\u9632\u5fa1\u6027\u548c\u6536\u76ca\u6027\u6295\u8d44\u5730\u4f4d\u3002 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\u4fe1\u5fc3\u3002\u540c\u65f6\uff0cSGX\u6b63\u5728\u6269\u5c55\u521b\u65b0\u4ea7\u54c1\uff0c\u4f8b\u5982\u4e0e\u4e1c\u76df\u5e02\u573a\u76f8\u5173\u7684SGX\u5b58\u6258\u51ed\u8bc1\uff08SDRs\uff09\u548c\u6d3b\u8dc3\u7684ETF\u4e0a\u5e02\uff0c\u4f7f\u6295\u8d44\u8005\u80fd\u591f\u66f4\u6709\u6548\u5730\u5b9e\u73b0\u6295\u8d44\u7ec4\u5408\u591a\u6837\u5316\u3002\u8fd9\u4e9b\u52aa\u529b\u7ed3\u5408\u6301\u7eed\u7684\u6280\u672f\u589e\u5f3a\u548c\u4ea7\u54c1\u521b\u65b0\uff0c\u5de9\u56fa\u4e86SGX\u4f5c\u4e3a\u4e9a\u6d32\u9996\u5c48\u4e00\u6307\u7684\u591a\u8d44\u4ea7\u4ea4\u6613\u6240\u548c\u5168\u7403\u8d44\u672c\u6d41\u52a8\u4e2d\u5fc3\u7684\u89d2\u8272\u3002 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2025\u8d22\u5e74\u4e1a\u7ee9\u56de\u987e\u3002\u5c3d\u7ba12025\u8d22\u5e74\u4e0b\u534a\u5e74\u51c0\u5229\u6da6\u4e0b\u964d2.6%\uff0c\u964d\u81f33.08\u4ebf\u65b0\u5143\uff08\u53bb\u5e74\u4e3a3.163\u4ebf\u65b0\u5143\uff09\uff0c\u65b0\u52a0\u5761\u4ea4\u6613\u6240\u6709\u9650\u516c\u53f8\u62a5\u544a\u4e86\u4e0a\u5e02\u4ee5\u6765\u6700\u9ad8\u7684\u5168\u5e74\u6536\u5165\u548c\u51c0\u5229\u6da6\u30022025\u8d22\u5e74\u6536\u5165\u4e3a13\u4ebf\u65b0\u5143\uff0c\u540c\u6bd4\u589e\u957f11.7%\u3002\u8c03\u6574\u540e\u7684\u5e74\u5ea6\u51c0\u5229\u6da6\u589e\u957f15.9%\uff0c\u8fbe\u52306.095\u4ebf\u65b0\u5143\uff0c\u4e3b\u8981\u53d7\u80a1\u7968\u3001\u8d27\u5e01\u548c\u5546\u54c1\u4ea4\u6613\u91cf\u589e\u52a0\u7684\u63a8\u52a8\u3002SGX\u5ba3\u5e03\u6bcf\u80a1\u6700\u7ec8\u5b63\u5ea6\u80a1\u606f\u4e3a10.5\u5206\uff0c\u6bd4\u53bb\u5e749\u5206\u6709\u6240\u4e0a\u5347\uff0c\u5e76\u8ba1\u5212\u57282026\u8d22\u5e74\u81f32028\u8d22\u5e74\u4e4b\u95f4\u6bcf\u5b63\u5ea6\u589e\u52a00.25\u5206\u7684\u80a1\u606f\u3002 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u4e2d\u82af\u56fd\u9645\u96c6\u6210\u7535\u8def\u5236\u9020(981 HK)\uff1a\u534a\u5bfc\u4f53\u72ec\u7acb\u6027 \u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a60\uff0c\u76ee\u6807\u4ef7\uff1a68\uff0c\u6b62\u635f\u4ef7\uff1a56 \u4e2d\u82af\u56fd\u9645\u96c6\u6210\u7535\u8def\u5236\u9020\u6709\u9650\u516c\u53f8\u662f\u4e00\u5bb6\u4e3b\u8981\u4ece\u4e8b\u96c6\u6210\u7535\u8def\u6676\u5706\u4ee3\u5de5\u4e1a\u52a1\u7684\u6295\u8d44\u63a7\u80a1\u516c\u53f8\u3002\u8be5\u516c\u53f8\u4ece\u4e8b\u7845\u7247\u53ca\u5316\u5408\u7269\u534a\u5bfc\u4f53\u96c6\u6210\u7535\u8def\u6676\u5706\u7684\u5236\u9020\u53ca\u6d4b\u8bd5\u4e1a\u52a1\u3002\u8be5\u516c\u53f8\u8fd8\u63d0\u4f9b\u4e0e\u96c6\u6210\u7535\u8def\u6709\u5173\u7684\u5f00\u53d1\u3001\u8bbe\u8ba1\u53ca\u6280\u672f\u670d\u52a1\u3001\u5149\u63a9\u6a21\u5236\u9020\u3001\u6d4b\u8bd5\u53ca\u9500\u552e\u81ea\u4ea7\u4ea7\u54c1\u4ee5\u53ca\u5176\u4ed6\u670d\u52a1\u3002\u8be5\u516c\u53f8\u5411\u56fd\u5185\u5916\u5ba2\u6237\u63d0\u4f9b\u6676\u5706\u4ee3\u5de5\u4e0e\u6280\u672f\u670d\u52a1\u3002","og:url":"https:\/\/www.kgieworld.sg\/research\/kgi-daily-trading-ideas-29-aug-2025-zh\/","og:image":"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/04\/KGI-Logo_\u255b\u03b5ai\u252c\u253carRGB_PNG.png?wsr","og:image:secure_url":"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/04\/KGI-Logo_\u255b\u03b5ai\u252c\u253carRGB_PNG.png?wsr","article:published_time":"2025-08-29T00:44:16+00:00","article:modified_time":"2025-08-29T02:26:13+00:00","twitter:card":"summary","twitter:title":"\u4eca\u65e5\u7cbe\u9009\uff1a\u80a1\u7968 | 2025\u5e748\u670829\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 \u5e03\u7c73\u5854\u739b\u519c\u4e1a(BAL SP): \u5e94\u5bf9\u672a\u6765\u7684\u6ce2\u52a8 \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a1.10\uff0c\u76ee\u6807\u4ef7\uff1a1.20\uff0c\u6b62\u635f\u4ef7\uff1a1.05 \u5e03\u7c73\u5854\u739b\u519c\u4e1a\u5728\u5370\u5ea6\u5c3c\u897f\u4e9a\u751f\u4ea7CPO\u548cPK\uff0c\u5176\u6cb9\u68d5 plantations \u4f4d\u4e8e\u8be5\u56fd\u3002\u516c\u53f8\u7684\u4e3b\u8981\u4e1a\u52a1\u6d3b\u52a8\u5305\u62ec\u79cd\u690d\u548c\u91c7\u6536\u6cb9\u68d5\u6811\u3001\u5904\u7406\u6765\u81ea\u6cb9\u68d5 plantations \u7684FFB\u3001\u5176 plasma plantations \u53ca\u7b2c\u4e09\u65b9\u7684CPO\u548cPK\uff0c\u5e76\u5728\u5370\u5ea6\u5c3c\u897f\u4e9a\u9500\u552eCPO\u548cPK\u3002 \u5f3a\u52b2\u7684\u76c8\u5229\u52bf\u5934\u53d7\u76ca\u4e8e\u5b9a\u4ef7\u80fd\u529b\u3002\u5e03\u7c73\u5854\u739b\u519c\u4e1a\u57282025\u5e74\u4e0a\u534a\u5e74\u8868\u73b0\u51fa\u8272\uff0c\u51c0\u5229\u6da6\u540c\u6bd4\u98d9\u534747.8%\u81f31.27\u4e07\u4ebf\u5370\u5c3c\u5362\u6bd4\uff0c\u5f97\u76ca\u4e8e\u575a\u633a\u7684\u68d5\u6988\u6cb9\u4ef7\u683c\u3002\u5c3d\u7ba1CPO\u9500\u552e\u91cf\u7565\u6709\u4e0b\u964d\uff0c\u6536\u5165\u4ecd\u589e\u957f28.2%\u81f39.74\u4e07\u4ebf\u5370\u5c3c\u5362\u6bd4\uff0c\u51f8\u663e\u4e86\u96c6\u56e2\u5229\u7528\u6709\u5229\u4ef7\u683c\u52a8\u6001\u7684\u80fd\u529b\u3002\u68d5\u6988\u4ec1\u4e1a\u52a1\u8868\u73b0\u7a81\u51fa\uff0c\u6536\u5165\u7ffb\u500d\u589e\u957f\uff0c\u56e0\u4ef7\u683c\u4e0a\u6da8\u548c\u9500\u91cf\u589e\u957f\u63d0\u5347\u4e86\u76c8\u5229\u80fd\u529b\u3002\u6bcf\u80a1\u6536\u76ca\u4ece2024\u5e74\u4e0a\u534a\u5e74\u7684494\u5370\u5c3c\u5362\u6bd4\u8dc3\u5347\u81f3730\u5370\u5c3c\u5362\u6bd4\uff0c\u4f7f\u7ba1\u7406\u5c42\u80fd\u591f\u5c06\u4e2d\u671f\u80a1\u606f\u63d0\u9ad8\u4e09\u500d\u81f3\u6bcf\u80a10.0363\u65b0\u5143\uff0c\u8868\u660e\u5f3a\u52b2\u7684\u73b0\u91d1\u751f\u6210\u80fd\u529b\u548c\u5bf9\u8d44\u4ea7\u8d1f\u503a\u8868\u5f3a\u5ea6\u7684\u4fe1\u5fc3\u3002 \u51fa\u53e3\u5e26\u6765\u7684\u884c\u4e1a\u5229\u597d\u3002\u5370\u5ea6\u5c3c\u897f\u4e9a\u7684\u68d5\u6988\u6cb9\u884c\u4e1a\u6b63\u4eab\u53d7\u5f3a\u52b2\u7684\u51fa\u53e3\u589e\u957f\uff0c\u5f97\u76ca\u4e8e\u5168\u7403\u9700\u6c42\u4e0a\u5347\u548c\u6b27\u76df\u8d38\u6613\u9650\u5236\u7684\u653e\u5bbd\u3002\u56fd\u5bb6\u51fa\u53e3\u57282025\u5e74\u4e0a\u534a\u5e74\u540c\u6bd4\u6fc0\u589e\u8fd125%\uff0c\u8fbe\u5230114\u4ebf\u7f8e\u5143\uff0c\u5e73\u5747\u5b9e\u73b0\u4ef7\u683c\u4e0a\u6da822%\u3002\u6700\u8fd1\u4e16\u8d38\u7ec4\u7ec7\u5bf9\u5370\u5ea6\u5c3c\u897f\u4e9a\u6709\u5229\u7684\u88c1\u51b3\uff0c\u9488\u5bf9\u6b27\u76df\u751f\u7269\u67f4\u6cb9\u5173\u7a0e\uff0c\u4ee5\u53ca\u9884\u8ba1\u4e8e2026\u5e74\u6388\u4e88\u6b27\u76df\u6bcf\u5e74100\u4e07\u5428\u514d\u7a0e\u68d5\u6988\u6cb9\u51fa\u53e3\u7684CEPA\u8d38\u6613\u534f\u5b9a\uff0c\u663e\u8457\u589e\u5f3a\u4e86\u957f\u671f\u9700\u6c42\u524d\u666f\u3002\u8fd9\u4e3a\u50cf\u5e03\u7c73\u5854\u739b\u8fd9\u6837\u7684\u751f\u4ea7\u5546\u521b\u9020\u4e86\u66f4\u6709\u5229\u7684\u8d38\u6613\u73af\u5883\uff0c\u5c24\u5176\u662f\u5728\u5bf9\u4e2d\u56fd\u548c\u5370\u5ea6\u7b49\u4e3b\u8981\u4e70\u5bb6\u7684\u53d1\u8d27\u52a0\u901f\u7684\u60c5\u51b5\u4e0b\u3002 \u68d5\u6988\u6cb9\u73b0\u8d27\u4ef7\u683c (Source: Bloomberg) 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2025\u5e74\u4e0a\u534a\u5e74\u4e1a\u7ee9\u56de\u987e\u3002\u6536\u5165\u540c\u6bd4\u589e\u957f28.2%\uff0c\u8fbe\u52309.74\u4e07\u4ebf\u5370\u5c3c\u5362\u6bd4\uff0c\u53bb\u5e74\u540c\u671f\u4e3a7.6\u4e07\u4ebf\u5370\u5c3c\u5362\u6bd4\u3002\u51c0\u5229\u6da6\u589e\u957f47.8%\uff0c\u8fbe\u52301.27\u4e07\u4ebf\u5370\u5c3c\u5362\u6bd4\uff08\u7ea6\u54081\u4ebf\u65b0\u5143\uff09\uff0c\u9ad8\u4e8e2024\u5e74\u4e0a\u534a\u5e748568\u4ebf\u5370\u5c3c\u5362\u6bd4\uff0c2025\u5e74\u4e0a\u534a\u5e74\u7684\u6bcf\u80a1\u6536\u76ca\u4e3a730\u5370\u5c3c\u5362\u6bd4\uff0c\u800c\u524d\u671f\u4e3a494\u5370\u5c3c\u5362\u6bd4\u3002 \u5e02\u573a\u5171\u8bc6 (Source: Bloomberg) \u65b0\u52a0\u5761\u4ea4\u6613\u6240\u6709\u9650\u516c\u53f8(SGX SP): \u63a8\u52a8\u65b0\u52a0\u5761\u8d44\u672c\u5e02\u573a\u7684\u589e\u957f \u91cd\u7533\u4e70\u5165\uff1a\u4e70\u5165\u4ef7\uff1a15.8\uff0c\u76ee\u6807\u4ef7\uff1a17.2\uff0c\u6b62\u635f\u4ef7\uff1a15.1 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