港交所这份研报，本质只在看一件事

SG Visual Research 图解研报

$香港交易所(00388)$

港股日均成交额已经抬到一个新中枢，而港交所的盈利，对成交量高度敏感。

IPO 回来了，南向资金在，衍生品和 LME 也在放量。

真正要观察的，只剩一个问题：

高成交区间，能不能延续到 2026。

港交所股价走势分析及新股情况

港交所股价或需成交破4000亿元才能突破500元，今年首三季日均成交额创新高，新股總集资额也有显著增长，管理层透露新股上市申请逼近300宗。25Q3港交所总营收再创历史新高，新上市公司数量增加，募集资金大幅增长，衍生产品合约量也创历史新高，高盛给定515港元目标价，上涨空间21%。

免责声明：上述内容仅代表发帖人个人观点，不构成本平台的任何投资建议。

精彩评论

我们需要你的真知灼见来填补这片空白

发表看法

2

{"i18n":{"language":"zh_CN"},"detailType":1,"isChannel":false,"data":{"magic":2,"id":521472986407448,"tweetId":"521472986407448","gmtCreate":1768352722481,"gmtModify":1768352728955,"author":{"id":3558404604264882,"idStr":"3558404604264882","authorId":3558404604264882,"authorIdStr":"3558404604264882","name":"SG Visual Research 图解研报","avatar":"https://static.tigerbbs.com/a6e90d8e86d025ca79fd03dfd73d1fa0","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":3,"crmLevelSwitch":0,"currentWearingBadge":{"badgeId":"e50ce593bb40487ebfb542ca54f6a561-4","templateUuid":"e50ce593bb40487ebfb542ca54f6a561","name":"明星虎友","description":"加入老虎社区2000天","bigImgUrl":"https://static.tigerbbs.com/dddf24b906c7011de2617d4fb3f76987","smallImgUrl":"https://static.tigerbbs.com/53d58ad32c97254c6f74db8b97e6ec49","grayImgUrl":"https://static.tigerbbs.com/6304700d92ad91c7a33e2e92ec32ecc1","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2026.01.12","individualDisplayEnabled":0},"individualDisplayBadges":[],"fanSize":13,"starInvestorFlag":false},"themes":[{"themeId":"f94b510db6544b7a9e7af0d7ab396fb1","categoryId":"2929bb7468f5415f853fd96fb35d7c3b","name":"港交所股价走势分析及新股情况","type":2,"rnLink":"https://laohu8.com/RN?name=RNTheme&page=/theme/special/finance&rndata={\"themeId\":f94b510db6544b7a9e7af0d7ab396fb1}&rnconfig={\"headerBarHidden\": true}","description":"港交所股价或需成交破4000亿元才能突破500元，今年首三季日均成交额创新高，新股總集资额也有显著增长，管理层透露新股上市申请逼近300宗。25Q3港交所总营收再创历史新高，新上市公司数量增加，募集资金大幅增长，衍生产品合约量也创历史新高，高盛给定515港元目标价，上涨空间21%。"}],"images":[{"img":"https://static.tigerbbs.com/d4d518887f3586b5edad146ebb496372","width":"1080","height":"5298"}],"coverImages":[{"img":"https://static.tigerbbs.com/d4d518887f3586b5edad146ebb496372","width":"1080","height":"5298"}],"title":"港交所这份研报，本质只在看一件事","html":"<html><head></head><body><a href=\"https://laohu8.com/S/00388\">$香港交易所(00388)$&nbsp;</a>&nbsp;\n<p>港股日均成交额已经抬到一个新中枢，而港交所的盈利，对成交量高度敏感。</p>\n<p>IPO 回来了，南向资金在，衍生品和 LME 也在放量。</p>\n<p>真正要观察的，只剩一个问题：</p>\n<p>高成交区间，能不能延续到 2026。</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d4d518887f3586b5edad146ebb496372\" tg-width=\"1080\" tg-height=\"5298\"><span></span></p>\n<p></p>\n<p><br></p></body></html>","htmlText":"<html><head></head><body><a href=\"https://laohu8.com/S/00388\">$香港交易所(00388)$&nbsp;</a>&nbsp;\n<p>港股日均成交额已经抬到一个新中枢，而港交所的盈利，对成交量高度敏感。</p>\n<p>IPO 回来了，南向资金在，衍生品和 LME 也在放量。</p>\n<p>真正要观察的，只剩一个问题：</p>\n<p>高成交区间，能不能延续到 2026。</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d4d518887f3586b5edad146ebb496372\" tg-width=\"1080\" tg-height=\"5298\"><span></span></p>\n<p></p>\n<p><br></p></body></html>","text":"$香港交易所(00388)$ 港股日均成交额已经抬到一个新中枢，而港交所的盈利，对成交量高度敏感。 IPO 回来了，南向资金在，衍生品和 LME 也在放量。 真正要观察的，只剩一个问题： 高成交区间，能不能延续到 2026。","highlighted":1,"essential":1,"paper":2,"likeSize":2,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/521472986407448","repostId":0,"isVote":1,"tweetType":1,"viewCount":864,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":["00388","HKXCY"],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":179,"optionInvolvedFlag":false,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/521472986407448"}