香港恒生指数7月14日（周二）收盘上涨127.01点，涨幅0.52%，报24340.73点； 香港恒生科技指数7月14日（周二）收盘上涨3.03点，涨幅0.06%，报4679.46点； 国企指数7月14日（周二）收盘上涨37.11点，涨幅0.46%，报8103.08点； 红筹指数7月14日（周二）收盘上涨52.36点，涨幅1.35%，报3935.4点。

市场预计，美联储本月加息的概率已升至50%。

Huatai Securities says KOSPI's >20% pullback from the June 19 peak through July 10 was not driven by fundamentals; FactSet consensus EPS for 2026E and 2027E were revised up 3.15% and 6.05% over that period. The current pressure stems from high index concentration and leverage, which raise volatility; marginal tightening in USD liquidity and a tougher Korean regulatory stance on leveraged trading can structurally amplify even small moves. Near-term risks include product redemption pressure and the implementation of regulatory measures. Over the medium-to-long term, KOSPI's direction still depends on industry fundamentals.