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國足慘敗巴勒斯坦 贊助商成代罪羔羊？

國足10月2日主場0：5慘敗巴勒斯坦，贊助商再成輿論箭靶，仍有贊助合約在身的蒙牛與中國平安股價10月5日下跌並跑輸同期恒指。國足贊助商已由2018年19家降至5家，比亞迪因網民抵制叫停合作，中超總贊助額亦由44億元跌至6.5億元。

Hang Seng Index slightly lower in early afternoon session

Hong Kong stocks were slightly lower in the early part of the afternoon session, with the Hang Seng Index quoted earlier at 23,955, down 16 points, or 0.07%. The Tech Index stood at 4,171, up 13 points, or 0.32%.

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外籍客4.4萬租維港峰兩房 呎租65元

維港峰中層B室一個實用面積675方呎的兩房1套單位以HK$4.4萬租出，實用呎租逾65元，新租客據悉為外籍人士。中原高級資深分區營業經理梁志昌表示，該單位向北望維港海景，港島私宅租盤持續具承接。

Hang Seng Index falls 20 points at midday to 23,952

The Hang Seng Index closed at midday at 23,952, down 20 points, with half-day main board turnover nearing $54.6 billion. The property sub-index fell nearly 1%, while HSBC and AIA dropped more than 1%; the tech index stood at 4,169 at midday, up nearly 0.3%, with Zhipu and Lenovo Group rising nearly half a per cent, and Hua Hong Semiconductor and Tianshu Zhixin gaining nearly 4% or more.

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惠康母公司 DFI Retail 擬招標放售全租出的山頂商場

惠康母公司 DFI Retail 擬出售山頂喬福道牛奶公司商場的全部商業部分，透過公開招標放售，截標時間為 11 月 19 日中午。獨家代理為 CBRE，物業鄰近德國瑞士國際學校山頂校園，商場包括兩層零售平台。

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「恐怖」投資故事｜日漫《FX戰士久留美》開播 為何轟動中港投資界？

日漫《FX戰士久留美》動畫版10月1日開播，憑寫實投資劇情轟動中港投資界。主角名「久留美」在普通話與粵語均諧音「韭菜」，被華人讀者視為散戶自嘲。故事以2008年雷曼金融海嘯為背景，主角以30萬日圓開戶、實際槓桿達102倍，傳遞止賺止蝕與資金管理的重要性。

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10年來商戶大執位 品牌旗艦店變民生舖

本港核心零售區商戶大執位，昔日奢侈品牌旗艦店由餐飲小店、民生商戶取而代之。過去逾10年消費模式轉變，疫情、網購普及及北上消費熱潮令核心區吉舖處處；近年盛事經濟帶動、全面通關後訪港旅客按年遞增，零售市道逐步回暖。業界預期奢侈品牌有機會重返核心零售區。

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投資者壯士斷臂 賣自住樓套現

紀惠集團行政總裁湯文亮去年以1.38億元售出自住的大潭陽明山莊頂層相連戶，並以月租7.5萬元租住跑馬地紀雲峰一個3房單位。舖位市道慘淡，部分知名投資者先後沽售多個投資物業，部分更要沽售自住物業。湯文亮曾於2024年表明「叫人賣自住單位，是一件好冇陰德的事」。

Ap Lei Chau project formerly managed by Lai Fung to be launched this quarter by Star Capital

A new Ap Lei Chau project wholly owned by Singapore real estate investment fund SC Capital Partners is set to be launched this quarter. Its chairman and founder, Tse Sung Chau, said Lai Fung had ceased participating in the project's management since early last year, and the project is expected to receive its occupation permit in the first quarter of next year. He believes Hong Kong's position as an international financial centre remains solid, and with overseas professionals and students continuing to come to Hong Kong to settle, he is optimistic about the property market outlook.

Asset management company Schroders CEO: Hong Kong business to expand after merger with Nuveen

Schroders global CEO Richard Oldfield said that after merging with US asset management company Nuveen, the company would increase investment and staffing in Hong Kong. He said Hong Kong serves as a key gateway to mainland China through mechanisms such as the Wealth Management Connect, which was launched in 2021 and allows Greater Bay Area investors to purchase wealth management products cross-border.

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荃灣綠楊新邨兩房638萬成交 租客轉租為買｜二手成交

利嘉閣促成荃灣綠楊新邨B座低層2室兩房成交，實用面積約451方呎，新買家以638萬元入市作自住，呎價約14,146元。買家原為租客，因近年租金持續上升而轉租為買。原業主2022年以約665萬元購入，持貨4年帳面蝕讓約27萬元，貶值約4.1%。

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商舖回報重上近4厘 返09年高位 價格跌幅遠超租金 業界：消費模式改變 投資者仍審慎

商舖投資回報率近月逼近4厘，重上2009年後高位。差餉物業估價署數據顯示，截至7月份全港私人零售業樓宇租金指數較2019年初反修例風波前高峰跌逾兩成、為逾14年新低，售價指數跌幅更大，較歷史高峰下跌47%。業界指出消費模式改變，投資者仍然審慎。

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藍灣半島呎價突破1.8萬高位 兩房業主持貨7年仍要蝕走(有圖)｜二手成交

藍灣半島1座高層E室約451方呎兩房單位以820萬元沽出，呎價約18,182元，較叫價880萬元累減60萬元或約6.8%。原業主2019年以856.8萬元購入，持貨約7年帳面蝕36.8萬元、貶值約4.3%。該盤上月錄5宗成交，較8月的3宗回升。

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青衣明翹匯一房銀主盤低市價逾7%沽 同屋苑業主再出手計劃收租｜二手成交

利嘉閣促成青衣明翹匯1A座中層G室一房銀主盤以428萬元成交，實用面積約299方呎，呎價約14,314元，較市價折讓約7.5%。買家為同屋苑業主，計劃購入作長線投資收租。原業主2019年以約501.8萬元一手購入，物業7年間帳面貶值73.8萬元或約14.7%。

Hang Seng Index falls 8 points in opening auction session

Hong Kong shares were soft in the opening auction session, with the Hang Seng Index at 23,963 points, down 8 points. The Tech Index stood at 4,138 points, down 19 points, a fall of 0.47%.

Greater Bay Area trending: company with HKUST ties moves in, plans to use Guangzhou centre to expand into Southeast Asia

Sensia Technology has moved into the Hong Kong-Guangzhou Technology and Industry Innovation Centre (Guangzhou), and plans to use Guangzhou as its industrial base and leverage the centre to expand into Southeast Asian markets. The company was founded by a team with HKUST ties and develops cross-industry robotics technologies, including head-mounted data collection devices, grippers and self-developed robotic arms, converting data such as human hand movements and spatial positions into training data for robots.

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AI年代：屈臣氏結合AI 分析客戶肌膚助銷售

屈臣氏集團近年於本港零售業務廣泛採用AI工具，應用場景包括AI肌膚分析及店內個人化體驗、AI驅動的產品探索及AI店舖營運支援。集團首席業務轉型總監吳孟婷指，相關工具用以提升生產力及決策效能。屈臣氏目前在全球31個市場經營12個零售品牌，其「O+O」模式已成為零售新標準。

Former Loka Management Ap Lei Chau Project, Star Capital Plans Launch This Quarter

Singapore real estate investment fund SC Capital Partners plans to launch a new residential project in Ap Lei Chau this quarter, with the project expected to receive an occupation permit in the first quarter of next year. Fund chairman and founder Tse Sung Chau said Loka had ceased participating in project management of the property since early last year. He believes Hong Kong's status as an international financial centre remains solid, and with overseas professionals and students continuing to come to Hong Kong to settle, he is optimistic about the property market outlook.

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本季首週末一手成交按周減半 十大屋苑交投跌44% 七屋苑吞蛋

本季首個週末一手市場兩日僅錄約176宗成交，按周大跌約一半；十大屋苑二手同期僅錄5宗成交，按周跌44%，當中七個屋苑零成交。市區新盤越秀地產（0123）油塘東源街擎海1期以10年來折實均呎最平推出，華潤置地（海外）長沙灣叡璟II上周六進行新一輪銷售。

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湯文亮：中國可投資美債 不代表散戶可跟風

湯文亮在明報專欄提醒，中國可投資美債不代表散戶可以跟風買入。他引述茶餐廳閒談：10年美債息5.26厘、評級AA+，有人聽聞可用10倍槓桿，並有說法稱應等中國買入才跟風。

Wang Bi: How to transform from a gambler into an investor?

US stocks hovered near highs over the past week. The Nasdaq Composite rose 1.4% over the week, the S&P 500 Index gained 0.5%, and the Dow Jones Industrial Average fell 0.6%. Technology stocks performed strongest, with Nvidia, AMD, Micron, as well as large caps such as Microsoft, Apple and META, putting in strong performances to support the indexes.

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周顯：港RWA代幣化 提速亟待破局

周顯評論指出，香港RWA代幣化提速亟待破局。政府去年6月發表《香港數字資產發展政策宣言2.0》，把原稱「虛擬資產」改稱為「數字資產」，成為整套政策總綴。

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劉思明：恒指陷尋底格局 匯控回調未破壞升勢

恆生指數上周跌超過2%，收報23,972點，正式失守24,000點心理關口。自8月反彈高位計累跌2,215點，把7至8月反彈蒸發逾六成。短線若未能站穩24,300點之上，恐反覆尋底，下探23,400點甚至6月低位約22,500點。

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蔡金強：講政治的美非農數據

全球債市拋售從美債向歐洲擴散，美國10年期國債收益率盤中一度升至5.34厘，創近24年來最高，隨後回落至5.24厘。法國10年期國債收益率一度升至4.96厘，創2002年以來新高，法德利差擴大至1.4個百分點。英國30年期國債收益率首次突破6厘，市場對新一輪債務風險的擔憂大幅升溫。

李聲揚：New World sheds Aerospace City to stem bleeding; survival doesn't mean share price must rise

New World Development (0017) posted a full-year loss of $28.1 billion, with net asset value per share substantially eroded, yet its shares opened high last Friday and at one point rose 10%, before falling back 4%, a decline similar to other developers. Lee Sing-yeung pointed out that netizens mistakenly subtracted a market capitalisation of about $15 billion from a loss of nearly $30 billion, thinking the market cap would be "wiped out"; the two figures cannot be simply added or subtracted in this way. Survival does not mean the share price must rise.

Cheung Siu-chung: Hong Kong stocks weak, US energy infrastructure stocks present an opportunity

Cheung Siu-chung said Hong Kong stocks continued their weak trend, falling sharply last Friday, with the absence of southbound funds and turnover halved leading to greater volatility. US non-farm payroll data fell far short of expectations, the probability of a rate hike in October declined, but long-term bond yields fell before rising, and US stocks retreated after hitting highs.

MPFA to launch one-stop MPF account information enquiry service on 5 October

MPF Authority Chairman Ayesha Macpherson Lau announced in a blog post that the "eMPF" Platform will launch a new one-stop MPF account information enquiry service on 5 October. Scheme members, authorised persons, personal representatives of deceased members or persons with priority in administering an estate may apply to view trustee and scheme names, account numbers and balances.

Fubon partners ShopBack to launch credit card, with a single transaction potentially earning triple rewards

Fubon Bank (Hong Kong) has entered into an exclusive partnership with Asia-Pacific shopping, rewards and payments platform ShopBack to launch the "Fubon iN ShopBack Visa Platinum Card", with a single transaction potentially earning triple rewards. ShopBack Business Director (Hong Kong and Taiwan) Greg said he expected to integrate the platform's traffic with the bank's payment channels to create a longer-term and stable rewards experience for users.

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奕斯偉計算招股入場費3212.07元 連3年經調整淨虧損逾10億元

奕斯偉計算（1256）招股價1.48元至1.59元，每手2000股入場費3212.07元，明日中午截止認購、本周五掛牌，集資最多24.966億元。公司2023年、2024年及去年經調整淨虧損均逾10億元（人民幣），招股書預期可見未來將繼續淨虧損。

Bond Asset Management's Liang Jiang: Hang Seng Index has less than 10% room to fall, bullish on 6 stocks

Liang Jiang, chief investment officer of Bond Asset Management, forecasts that US interest rate hike pressure will persist at least until the first quarter of next year, during which the Hang Seng Index will be easier to fall than rise, but with no more than 10% room for further decline. The Hang Seng Index fell 537 points or 2.19% last week, falling for four consecutive weeks with a cumulative drop of 1,678 points or 6.54%. He is bullish on Tencent, Midea, Shenhua, Fuyao Glass, as well as Luxshare Precision and Sunny Optical, which benefit from the hot sales of the iPhone 18.

陳家齊：港投公司「投早投小」 不會因市場波動被迫套現

港投公司行政總裁陳家齊表示，港投公司以「投早投小」為核心策略，不會因市場波動被迫套現。港投公司成立至今4年，已投資超過200間企業，11間已在港上市，另有超過30間計劃今年內上市。政府每一元投資平均帶動超過8元長期資本跟投。

Gobi Partners co-founder urges Central Asian tech firms to list in Hong Kong

Gobi Partners managing partner Tang Qibo urged attracting Central Asian technology companies to list in Hong Kong, believing that cooperation between the exchanges of Hong Kong and Kazakhstan can open up an alternative route to connect capital markets for local technology companies beyond traditional energy firms. Kazakhstan has already produced video start-up Higgsfield, valued at over US$1 billion, and has attracted Middle Eastern capital to explore opportunities locally.

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第三季新股基投大多帳面虧損 GIC蝕5.5億元最多

第三季焦點新股的基石投資者大多帳面虧損，新加坡政府投資公司（GIC）帳蝕5.5億元最多。認購希音（0625）、MOMENTA（6880）的基投包括博裕、淡馬錫、阿布扎比投資局及富達等基金。因基投一般設6個月禁售期未能及時沽貨，僅阿布扎比投資局以中際旭創（3308）帳面獲利抵銷MOMENTA虧損。

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上季新股表現轉弱 近半首日破底 六成IPO季內累計潛水 分析：上市熱潮未完

今年第三季上市新股有45.2%首日破底，較今年上半年83隻主板新股只有14.5%首掛跌破招股價明顯轉弱。德勤統計今年首三季IPO集資額達HK$3879億元，預期全年約160隻新股、集資額至少HK$4800億元，有望超越2010年約HK$4450億元的歷史高位。分析認為上市熱潮未完。

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舗位市道慘淡 投資者壯士斷臂賣自住樓套現

舗位市道慘淡，部分知名投資者除先後沽售多個投資物業外，更要賣出自住物業套現。當中最矚目的是紀惠集團行政總裁湯文亮，去年以1.38億元售出其自住的大潭陽明山莊頂層相連戶，並以月租7.5萬元租住跑馬地紀雲峰一個3房單位。

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10年來商戶大執位 品牌旗艦店變民生舖

過去10年本港商舖市場大執位，昔日核心地段的奢侈品牌旗艦店，由餐飲小店、民生商戶等取而代之。2020年新冠疫情爆發後網購普及，加上近年北上消費熱潮，零售核心區吉舖處處；隨着政府推動盛事經濟及全面通關後訪港旅客按年遞增，零售市道逐步回暖。有業界預期消費動力持續恢復，奢侈品牌有機會重返核心零售區。

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本港商舖回報率重上近4厘 返2009年後高位 售價跌幅遠超租金

本港私人零售業樓宇回報率近月逼近4厘，重上2009年後高位。差餉物業估價署數據顯示，截至7月全港私人零售業樓宇租金指數較2019年初高峰期大跌逾兩成，為逾14年新低，售價指數則較歷史高峰期下跌47%。業界指消費模式改變，投資者仍審慎。

DFI Retail Group 高層專訪：140年香港日常時刻

DFI Retail Group 透過高層專訪回顧在香港140年的發展，指早餐、會議之間的咖啡、下班買餸、美妝日用品及週末選購傢俬等日常消費場景，正是其業務根基。該集團1886年在香港成立，由本地企業逐步發展壯大。

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唐英年今個星期推出另一批私人珍藏美酒拍賣

唐英年今個星期載譽歸來，再推出另一批私人美酒珍藏拍賣。十三年前他曾罕有地將私人珍藏推出拍賣，當年 Romanee-Conti 珍藏市場反應熱烈。作者從美酒領會分甘同味、自我追尋、知音細覓三點人生體會。

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跨境傢俬新商機：中山傢俬陳列室月租只需兩萬元

中山一家兩萬呎傢俬陳列室以向廠商按需訂貨模式經營，月租只需人民幣兩萬元。一批傢俬連物流運港、上樓及香港師傅安裝合共只需兩萬三千多港元，店主指香港相近面積工廈月租恐怕要三十萬港元。作者亦建議香港工廈業主引入內地產品作展銷。