🇭🇰 HK Stock Desk港股研判台

Fast movers — 1-day momentum快速异动 — 1日动能 ?HK names that set off several same-day momentum triggers — a fresh cross, an overnight gap on the US listing, or a turn off a washout — and then ran. Hong Kong has no daily price limits, so a name that runs the same day is showing real demand. A heads-up, not a buy signal.今天同时触发了几个盘中动量信号的港股 —— 信号刚上穿、美股 ADR 隔夜跳空，或者从低位转上来 —— 然后就直接涨了。港股没有涨跌停，当天就能拉起来说明需求是真的。这是提示，不是买入信号。

as of截至 2026-09-15

Measured vs the market over 21 sessions · fills next close · track record accruing — not a buy list 以21个交易日相对大盘衡量 · 次日收盘成交 · 记录累积中 — 非买入清单

Washout Watch — deep decliners trying to turn洗盘观察 — 深跌股尝试转身 · High risk, unconfirmed — watch, don't chase.高风险、未确认 — 观察，勿追。

🇨🇳 Mainland money内地资金 · Southbound flow — and where it's going南向资金 — 以及流向哪里 · 2026-09-14 ?Mainland money flowing into HK through Southbound Connect: how much (net flow), whether that flow is backing the HSI price trend, how cheap HK-listed H-shares look vs their mainland A-share twins, and which single names the mainland is adding to or trimming. A liquidity backdrop, not a buy signal.内地资金通过南向港股通流入港股：规模（净流入）、该资金是否支持恒指价格趋势、港股 H 相对 A 股孪生有多便宜、以及内地正在加仓或减仓哪些个股。流动性情况，非买入信号。

20-day rolling southbound net · last 2 years (¥100M)南向20日滚动净额 · 近两年（亿元）

Per-name southbound holdings across个股南向持股，覆盖 406 sized HK names.只有规模的港股。 A liquidity backdrop, not a buy signal.流动性情况，非买入信号。

Sector Rotation板块轮动 · RS vs HSI相对恒生指数 ?Sectors ranked by relative strength vs the Hang Seng over 20 and 60 days. The strip above flags leadership handoffs — where money is rotating out of one theme and into a peer. Descriptive; no size or gate.板块按相对恒生指数20日与60日的强度排序。上方带状区标记领导权交接 —— 资金从某主题轮出、流入同类主题。描述性；不调仓、不设门控。

Global-risk screener全球风险筛选 · Who amplifies global risk, who cushions it — the full HK list谁放大全球风险、谁缓冲 —— 完整港股名单 · 2026-09-15 ?HK single names are mostly risk exposures. Amplifiers (high beta) move more with global risk; cushions (low beta) move less. Beta measured to the S&P 500 overnight. Descriptive exposure, not a return forecast.港股个股主要是风险敞口。放大器（高贝塔）更随全球风险波动；缓冲股（低贝塔）波动较小。贝塔以隔夜标普500衡量。描述性敞口，非收益预测。

Global risk is neutral — these are exposures, not a tilt; amplifiers will move more in EITHER direction when the regime turns.全球风险中性 — 这是敞口而非倾向；当风险状态转变时，放大器在任一方向都会波动更大。 Current state:当前状态： Neutral.

Beta to S&P 500 overnight. Descriptive exposure, not a return forecast.对隔夜标普500的贝塔。描述性敞口，非收益预测。