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《大行》中金:關注季檢注對百濟神州(06160.HK)、極兔速遞(01519.HK)、智譜(02513.HK)及Minimax(00100.HK)等資金流向正面影響
中金發表報告指,2026年5月22日盤後,恒生指數公司公布了其定期的季度指數調整結果。1)恒生指數:此次調整納入百濟神州(06160.HK)(權重1.3%)、極兔速遞-W(01519.HK)(權重0.3%)以及中國鋁業(02600.HK)(權重0.24%),調整後成分股數量提升至93隻。2)恒生國企:此次調整納入翰森製藥(03692.HK)與康方生物(099...
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《大行》中金:關注季檢注對百濟神州(06160.HK)、極兔速遞(01519.HK)、智譜(02513.HK)及Minimax(00100.HK)等資金流向正面影響
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中金發表報告指,2026年5月22日盤後,恒生指數公司公布了其定期的季度指數調整結果。

1)恒生指數:此次調整納入百濟神州(06160.HK)  -5.200 (-2.799%)    Short selling $225.72M; Ratio 28.726%   (權重1.3%)、極兔速遞-W(01519.HK)  -0.270 (-2.932%)    Short selling $136.26M; Ratio 46.605%   (權重0.3%)以及中國鋁業(02600.HK)  -0.430 (-3.620%)    Short selling $50.33M; Ratio 6.882%   (權重0.24%),調整後成分股數量提升至93隻。

2)恒生國企:此次調整納入翰森製藥(03692.HK)  -0.200 (-0.588%)    Short selling $59.27M; Ratio 25.205%   與康方生物(09926.HK)  +3.000 (+2.674%)    Short selling $106.34M; Ratio 14.392%   ,納入權重分別為0.46%與0.76%;舜宇光學科技(02382.HK)  +1.200 (+1.623%)    Short selling $704.05M; Ratio 33.650%   與海爾智家(06690.HK)  -0.250 (-1.256%)    Short selling $141.62M; Ratio 30.893%   被剔除,剔除前權重分別為0.41%與0.46%。調整後成分股數量維持50隻不變。

3)恒生科技:此次調整納入智譜(02513.HK)  +80.000 (+5.948%)    Short selling $55.47M; Ratio 4.023%   與Minimax-W(00100.HK)  +81.000 (+10.533%)    Short selling $99.32M; Ratio 3.603%   ,納入權重分別為0.53%與0.36%;金蝶國際(00268.HK)  -0.170 (-2.234%)    Short selling $184.55M; Ratio 41.990%   與金山軟件(03888.HK)  -0.200 (-0.933%)    Short selling $196.48M; Ratio 45.843%   被剔除,剔除前權重分別為0.70%與0.67%。調整後成分股數量維持50隻不變。

基於《彭博》匯總,追蹤恒生指數ETF資金規模約為277.6億美元,追蹤國企和恒生科技指數的ETF規模分別約為86.0億美元和520.4億美元。結合上述成分和權重變化,進一步結合個股過去3個月日均成交額,中金測算被動資金變化可能帶來的影響:

1)恒生指數:被動資金流入所需時間最多的是本次被納入的百濟神州、極兔與中鋁,中金預計將分別帶來約3.6億、0.83億與0.67億美元的被動資金流入,流入所需交易時間分別約3.9天、2.5天與0.8天。資金流出中,此次由於指數權重變動,電能實業(00006.HK)  -0.500 (-0.812%)    Short selling $36.33M; Ratio 13.269%   與中通快遞-W(02057.HK)  -2.500 (-1.403%)    Short selling $108.31M; Ratio 42.792%   的潛在被動資金流出或達到833萬美元與1,943萬美元,流出時間分別約0.4天。

2)恒生國企:被動資金流入所需時間最多的是本次被納入的翰森製藥與康方生物,中金預計分別將帶來3,956萬與6,537萬美元的資金流入,流入時間分別約0.9天與0.5天。資金流出中,海爾智家與舜宇光學科技現有0.46%與0.41%的權重將分別帶來約3,956萬與3,526萬美元的被動資金流出,流出時間分別約0.7天與0.4天。

3)恒生科技:被動資金流入所需時間最多的是本次被納入的智譜與Minimax,中金預計分別將帶來2.8億與1.9億美元的資金流入,流入時間分別約1.2天與0.9天。資金流出中,金山軟件與金蝶國際現有0.67%與0.7%的權重將分別帶來約3.5億與3.6億美元的被動資金流出,流出時間分別約9.7天與7.6天。(ad/da)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-27 16:25.)

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