恒生指数周五下跌225点，跌幅1.1%，收于20728点，早盘小幅上涨，受房地产、消费者和金融股下跌的影响。随着中国准备在今天晚些时候举行媒体吹风会，结束其最高立法机构为期一周的会议，市场情绪变得谨慎。许多分析人士表示，需要更直接的财政刺激，而不是像债务互换计划这样的零碎措施。与此同时，人们越来越担心，如果唐纳德·特朗普连任美国总统，可能会征收更高的关税。预计周末将公布中国CPI和PPI数据，通缩风险持续存在。尽管如此，该指数仍公布了1.1%的周涨幅，这是五年来的首次上涨，这得益于美联储和金管局降息25个基点。鲍威尔主席还指出，美国大选不会影响短期政策。腾讯和美团分别下跌1.6%和3.5%，其他拖累股包括龙湖集团（-5.6%）、阳光保险（-5.3%）和中国海外发展（-3.4%）。

The Hang Seng lost 225 points or 1.1% to close at 20,728 on Friday after trading slightly higher in the morning, rattled by losses in property, consumers, and financials. Sentiment turned cautious as China prepared to hold a media briefing later today, concluding a weeklong session of its top legislative body. Many analysts said more direct fiscal stimulus is needed rather than piecemeal measures like debt swap programs. Meanwhile, concerns grew over the potential for higher tariffs if Donald Trump were to secure a second term as US president. Chinese CPI and PPI data are expected over the weekend, with deflation risks persisting. Still, the index posted a weekly gain of 1.1%, its first rise in five, buoyed by 25bps rate cuts from the Fed and the HKMA. Chair Powell also noted the US election would not impact near-term policy. Tencent and Meituan each slipped 1.6% and 3.5%, while other big drags included Longfor Group (-5.6%), Sunshine Insurance (-5.3%), and China Overseas Land (-3.4%).

香港股市周五早盘上涨37点，涨幅0.2%，至21084点，在美联储9月降息50个基点后，美国股市、债券和大宗商品隔夜上涨，连续第二天上涨。与此同时，金管局以与美联储相同的幅度下调了基准利率，使该市的借贷成本降至2023年2月以来的最低水平。本周，恒生指数有望创下五周来的首次上涨，迄今已上涨近2.5%，这得益于人们希望中国立法者今天可以建议一项价值数万亿元的财政方案，这可能会抵消唐纳德·特朗普总统任内美国可能征收的贸易关税的影响。在周末公布的中国10月份CPI和PPI数据之前保持警惕，限制了进一步的进展。科技板块支撑了涨幅，半导体制造（3.7%）、小米公司（3.6%）、Trip等板块强劲上涨。Com（1.1%）和阿里巴巴集团（1.0%）。

Shares in Hong Kong rose 37 points or 0.2% to 21,084 in early trade on Friday, gaining for the second day following rallies in stocks, bonds, and commodities in the US overnight after the Fed's expected 25bps rate cut, which came after a 50bps reduction in September. Meanwhile, the HKMA lowered its base rate by the same margin as the Fed, bringing borrowing costs in the city to their lowest since February 2023. For the week, the Hang Seng is on track to log its first gain in five weeks, having jumped near 2.5% so far, buoyed by hopes that China's lawmakers could recommend today a fiscal package worth trillions of yuan, potentially offsetting the impact of possible US trade tariffs under President Donald Trump. Capping further advances were vigilance ahead of Chinese CPI and PPI figures for October, due over the weekend. Gains were largely supported by the tech sector, with solid rises from Semicon Manufacturing (3.7%), Xiaomi Corp. (3.6%), Trip.Com (1.1%), and Alibaba Group (1.0%).

香港金融管理局（金管局）于11月8日将基准利率下调25个基点至5.0%，此前数小时，美国联邦储备委员会在9月份下调50个基点后将利率下调了相同幅度。随着本币与美元挂钩，亚洲金融中心的货币政策与美国保持一致。这一决定使该市的借贷成本降至2023年2月以来的最低水平，为多年来面临高利率的消费者和企业提供了更多的救济。这一直是香港房地产市场和经济的主要拖累因素。2024年第三季度，由于私人消费进一步下降和出口放缓，该市的国内生产总值同比增长1.8%，为五个季度以来最慢的增长。政府预计今年经济将增长2.5%至3.5%。在货币方面，香港十月份的外汇储备为4214亿港元，为三个月来的最低水平。

The Hong Kong Monetary Authority (HKMA) reduced its base rate by 25bps to 5.0% on November 8th, hours after the US Federal Reserve slashed interest rates by the same margin following a 50bps reduction in September. Monetary policy in the Asian finance hub moved in line with the US as the local currency is pegged to the greenback. This decision brought borrowing costs in the city to their lowest level since February 2023, providing more relief for consumers and businesses who have faced high interest rates for years. That has been a major drag on Hong Kong's housing market and economy. The city's GDP grew by 1.8% yoy in Q3 of 2024, the slowest expansion in five quarters, due to a further drop in private consumption and a slowdown in exports. The government had projected the economy to expand by 2.5 to 3.5% this year. On the monetary side, foreign exchange reserves in Hong Kong stood at HKD 421.4 billion in October, marking the lowest level in three months.

香港外汇储备从上月的4228亿美元降至2024年10月的4214亿美元，这是自7月以来的最低数字。它是流通货币的五倍多，约占香港M3的39%。

Foreign exchange reserves in Hong Kong fell to $421.4 billion in October 2024 from $422.8 billion in the previous month, marking its lowest figure since July. It represented over five times the currency in circulation or about 39% of Hong Kong dollar M3.