香港股市

ValueAtRisk模型及其在香港股市中的实证分析

Value at Risk Models and the Empirical Analysis of Hong Kong Stock Market

汇丰银行（HSBC）最近发布了一份报告，将潜在的政治动荡列为对香港股市持悲观看法的一个关键原因，不过该银行随后补充了其看法，又列出其他一些因素。

HSBC recently published a report listing the potential for political unrest as a key reason behind its bearish call on the Hong Kong stock market , although it later expanded its argument to include other factors .

香港股市下跌，有传闻称，投资者正抛出市场权重股中国移动（chinamobile），买进固定线路运营商中国电信（chinatelecom）的股票。

Hong Kong lost ground amid talk that investors were switching out of China Mobile , a market heavyweight , and into China Telecom , the fixed-line operator .

的上市，这是中国最大的医药产品分销企业，该公司通过在香港股市IPO成功地融资13亿美元。

China 's largest distributer of pharmaceutical products , successfully raised US $ 1.3 billion in a Hong Kong IPO .

深圳和香港股市是整个ecm发行最繁忙的两个市场。

The Shenzhen and Hong Kong stock exchanges have also been the busiest for overall ECM activity .

零食生产商中国旺旺（WantWantChina）也计划于本月在港上市，这一迹象表明，香港股市正从年初时的低迷状态中复苏。

Want Want China , a snack maker , also plans to sell shares in the territory this month , in a sign that the Hong Kong equity market is recovering from a slow start to the year .

今年，香港股市筹集的IPO资金，首次超过了美国所有证交所。

For the first time , Hong Kong raised more money through IPOs this year than all of the exchanges across the US .

作为香港股市的运营商，香港交易所（HongKongExchangesandClearing）股价跳升8.8%，至238.40港元，因市场预计该公司将受益于来自中国内地的资金流。

Bourse operator Hong Kong Exchanges and Clearing jumped 8.8 per cent to HK $ 238.40 amid optimism that it would benefit from the inflow of Chinese cash .

受香港股市连续两个月反弹影响，一些人希望，港交所可能再次迎来接连不断的内地企业大规模首次公开发行（IPO）。

A two-month rally in Hong Kong 's stock market has raised hopes that the exchange could again play host to a steady succession of large Chinese initial public offerings .

很多投资者过去都认为，作为qdii资金主要目的地的香港股市会持续上涨。

Many investors were betting that Hong Kong shares , the main destination for QDII money , would continue to rise .

在香港股市下跌的情况下，中国最大全国零售商的股票收盘上涨69%。经确认，美国私人股本基金贝恩资本（BainCapital）已成为该公司新的战略投资者。

Shares in China 's biggest nationwide retailer closed up 69 per cent in a falling Hong Kong market after Bain Capital , the US private equity fund , was confirmed as its new strategic investor .

今年8月20日，中国国家外汇管理局（SAFE）宣布了所谓的港股直通车试行计划，首次允许中国内地居民通过中国银行天津分行投资香港股市。

On August 20 , China 's State Administration of Foreign Exchange announced the so-called through train pilot project to allow Chinese residents to invest in Hong Kong 's stock market for the first time , via the Bank of China 's operations in Tianjin .

美国的交易所不会对收购已上市企业的所谓借壳上市操作进行严格审核。和美国股市不同，香港股市将这种交易视为新IPO对待。

Unlike US exchanges , which do not scrutinise so-called backdoor listings via the acquisition of an already publicly traded company , the Hong Kong stock exchange treats such deals as if they were new IPOs .

香港股市的IPO向全球投资者开放，使中国公司能够筹集到外汇资金，而沪市上市新股仅面向国内投资者，他们无法自由地将人民币资金转换为其它货币。

IPOs in Hong Kong are open to global investors and allow Chinese companies to raise foreign exchange , while Shanghai listings are only open to domestic investors who cannot freely convert their funds out of renminbi .

中国工商银行（ICBC）上周五成功完成全球迄今为止规模最大的首次公开发行（IPO），其股票在香港股市的首日交易中上涨近15%，在上海股市则上涨5%。

Shares in Industrial and Commercial Bank of China surged nearly 15 per cent in Hong Kong and 5 per cent in Shanghai yesterday as China 's largest bank successfully completed the world 's biggest ever initial public offering .

尽管香港股市昨日尾盘出现反弹，但由于最近遭遇强大抛压，2007年初至今的香港十大首次公开发行（ipo）中，有8家公司跌破发行价。

Eight of the companies involved in the top 10 initial public offerings in Hong Kong since the start of 2007 have fallen below their offer prices due to the recent sell-off , in spite of a last-minute rebound of the stock market yesterday .

彭博（Bloomberg）数据显示，香港股市今年的表现是世界十大股市中最糟糕的，昨日已逼近200日均线这一关键的长期支撑位。

Hong Kong is the worst-performing of the world 's 10 largest stock markets this year , according to Bloomberg data , and yesterday skirted close to its 200-day moving average , a key long-term support level .

霸菱资产管理（baringassetmanagement）亚洲投资组合经理khiemdo称，如果外国投资者对中国公司“极其看好”，并因而推高港股股价，那么内地股市对香港股市的溢价甚至可能倒过来，变成折价。

The premium could even turn into a discount if foreign investors become " massively bullish " on Chinese companies and so bid up H shares in Hong Kong , said Khiem do , head of Asian multi-asset at Baring Asset Management .

相比之下，其他权威分析人士，包括驻上海的独立经济学家谢国忠（andyxie）则表示，香港股市未来数月有可能大幅下挫，因为它们容易受到去年充斥市场的外资突然流出的影响。

By contrast , other respected analysts , including Andy Xie , an independent economist based in Shanghai , say Hong Kong stocks are likely to fall sharply in coming months as they are vulnerable to a sudden outflow of the foreign funds that flooded the market last year .

香港股市最近的上涨已缩小了这种价差。

The recent rally in Hong Kong has narrowed the gap .

香港股市受到了大陆股市下跌的影响。

Hong Kong was hit by the drop in mainland stocks .

香港股市表现最差的股票主要是内地企业。

The list of worst-performing stocks was dominated by mainland companies .

新兴市场股市普遍下跌，其中香港股市大跌12.7%。

Emerging markets slumped , with Hong Kong Down 12.7 per cent .

市场狂热也蔓延到了毗邻的香港股市。

The market frenzy has spilled into neighbouring Hong Kong .

香港股市本身的情况也与当时大不相同。

The stock market itself is a far different beast from those days .

当然，最大的区别在于香港股市本身。

The big difference , of course , is the stock market itself .

香港股市昨日录得自四月来的最大跌幅。

Stocks suffered their biggest fall since April yesterday .

香港股市中的小盘股效应及季节效应分析

Small Firm Effect and Monthly Effect : Evidence from Hong Kong Stock Exchange

卖空交易机制、波动性和流动性&一个基于香港股市的经验研究

The Short Selling Mechanism , the Market Fluctuation , and the Market Fluidity

中国内地及香港股市昨日因假期休市。

Equity markets in China and Hong Kong were closed yesterday for holidays .