ECB Governing Council member KAZAKS said that if the energy situation persists, further monetary tightening may be needed.

国外 1. 大摩：AI股票抛售似乎过度，数据中心推迟或缓解供应限制并支撑定价。 2. 瑞银：预计标普500指数到年底将达到8900点。 3. 罗素投资：CPI超预期或使美联储12月加息成定局。 4. 凯投宏观：AI投资热潮逆转不太可能引发美国经济衰退。 国内 1. 中信建投：2027年中国资本市场将呈现股债汇三牛。 2. 中信证券：伊朗的一系列战略性诉求与目标，对于美国两党均缺乏妥协空间。 3. 中金公司：AI端侧硬件迎价值重估，新一轮创新浪潮有望开启。 4. 中信证券：主动基金科技仓位降至56.3%，电子与通信仍占近九成。 5. 华泰证券：头部券商三季度投资收入承压，投行与资管提供支撑。 6. 华泰证券：关注物理AI与SOFC产业化机遇。 7. 中信证券：前三季度电力行业净利降19%，关注沿海省份电价回升空间。 8. 国金证券：煤企三季度扣非净利增32.3%，关注冬储与安全生产约束。

Southbound Stock Connect flows were net sellers of CNY2.739 bln today. Via Shanghai–Hong Kong Stock Connect, Alibaba-W was the top net buyer at HK$1.434 bln; Tencent Holdings and Yangtze Optical Fibre & Cable were the largest net sells at HK$476 mln and HK$239 mln respectively. Via Shenzhen–Hong Kong Stock Connect, SMIC led net buys at HK$183 mln while Tracker Fund of Hong Kong and Alibaba-W were the top net sells at HK$690 mln and HK$566 mln respectively.