tag:blogger.com,1999:blog-83661341601048303122024-03-13T12:28:36.822+08:00財務自由式願有一天達成財務自由,讓自已的生活從老鼠賽跑中離開,變成財務自由的現在進行式晨曦http://www.blogger.com/profile/01331144244005855332noreply@blogger.comBlogger33125tag:blogger.com,1999:blog-8366134160104830312.post-48837317054001493242021-09-24T01:51:00.000+08:002021-09-24T01:51:00.964+08:002021上半年小結<p> 2021年的上半年已經過去,本來這一篇總結和檢討應該是在六月下旬應該要完成,但是今年是自己大學生活的最後一年,最後一個學期有不同的考試和畢業功課需要處理,所以沒有空去打理這裏,但最後我終於成功畢業,離開了學生生活。希望能抽出更多的時間繼續鑽研自己的投資技巧和鑽研不同的公司吧。</p><p> 自己的組合在2021年上半年連股息計算,總回報有25.14%。而相比同期,恒生指數-4.67%,標準普爾500指數+20.41%,道瓊斯工業平均指數+15.53%,納斯達克指數+18.4%,ARKK+5.05%,AIEQ+16.89%。</p><p> 關於個股方面,截至今日(24-9-2021)現時持有八隻股票,分別是百富環球,價值黃金,Apple,Nvidia,Square,Sea,Tesla和台積電。而截至今日,個股的總回報如下:</p><div>百富環球(0327)+60.77%</div><div>價值黃金(3081)-3.6%</div><div>Apple Inc(AAPL)+26.66%</div><div>Nvidia Corp(NVDA)+2.85%</div><div>Square Inc(SQ)+16.25%</div><div>Sea Ltd(SE)+42.54%</div><div>台積電-ADR(TSM)+54.88%</div><div>Tesla Ltd(TSLA)+9.67%</div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjjq-S5-1Ef7NvGHr04lEMR5UxSJn5kH8Dc30u-RdOMSw7yUrz8dbgI8JEgDmGQWojPUHOi7KFdb9PlMFoup2ZPbIfKoHHk5KNH8kE9ZuWv9W2hJkzzL7AQluprvXyU9qa8TYRAQlluP4hw/s600/%25E8%2582%25A1%25E7%25A5%25A8%25E6%25AF%2594%25E4%25BE%258B.png" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="371" data-original-width="600" height="396" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjjq-S5-1Ef7NvGHr04lEMR5UxSJn5kH8Dc30u-RdOMSw7yUrz8dbgI8JEgDmGQWojPUHOi7KFdb9PlMFoup2ZPbIfKoHHk5KNH8kE9ZuWv9W2hJkzzL7AQluprvXyU9qa8TYRAQlluP4hw/w640-h396/%25E8%2582%25A1%25E7%25A5%25A8%25E6%25AF%2594%25E4%25BE%258B.png" width="640" /></a></div><div style="text-align: center;">截至今日(24-9-2021)組合持倉</div><div style="text-align: left;"> 在這半年,我對港股的信心不停下降,所以先後把海爾智家,金界控股賣出。而賣出必瘦站在事後回顧,好明顯這是一個錯誤的決定。賣出必瘦站的原因只是必瘦站佔自己的總倉位比例太少,純粹希望能購買更多美股,集中自己的持股。但後來必瘦站股價大升,完美錯過必瘦站牛氣沖天的那一段時間。買入黃金ETF當初是預計黃金價格有機會上升,所以買入極少量作為倉內的一部份,後來也證明自己的決定是錯誤。在短時間內,我會把價值黃金賣出,繼續集中資金在美股中,而百富環球,我依然會繼續持有,它是我極少數有信心的港股公司,繼續持有而等後更大的回報。</div><div style="text-align: left;"><br /></div><div style="text-align: left;"> 美股方面,多隻在艙內的美股都帶給我不錯的回報,其中冬海集團(Sea Ltd)的回報是所有倉內美股最高的一隻股票。反而在這半年來,我減少了部份Tesla的持股,從倉內最大比重,減至第五大比重,我不是不睇好Tesla未來的發展,我只是認為Tesla在未來短時間內未能達到該公司所設定的目標,所以決定減少部份持倉,轉為買入其他較為穩健,每年平均股價上升一定數字的股票。</div><div style="text-align: left;"><br /></div><div style="text-align: left;"> 展望未來,希望自己可以有更多時間寫更多不同的文章,例如分析不同的公司,自己股票倉中的持倉介紹和對現今投資市場發表小小見解等等。也希望同時透過自己的文章和更多不同網友互相交流切磋學習更多不同的知識。</div><div><br /></div><p style="text-align: left;"><br /></p>晨曦http://www.blogger.com/profile/01331144244005855332noreply@blogger.com6tag:blogger.com,1999:blog-8366134160104830312.post-56027857315058176522021-05-12T00:33:00.003+08:002021-05-12T00:33:54.382+08:00自動駕駛能取代到人類司機?<p> 前一篇文章提到,我就提到自動駕駛技術未必能夠完全取代司機。現時自動駕駛正反面的討論中,支持自動駕駛的人都認為,自動駕駛比人類司機更為安全,因為絕大部份的交通意外都是人為因素。而反對自動駕駛的人就認為,自動駕駛是不可靠的一種產物。我個人偏向認同後者睇法,不是說自動駕駛不可靠,只是如果單一完全倚賴自動駕駛絕對是不可行,人類司機配合自動駕駛技術才是駕駛汽車的未來發展方向。</p><p> 自動駕駛技術其實已經不是新鮮事,飛機上的自動駕駛儀器早在100多年前已經被發明,在1912年由法國人Lawrence Sperry發明了自動駕駛儀,而現今的自動駕駛儀都是從這個基礎開始發展,而汽車的自動駕駛技術就大約在1980年左右出現,這樣問題來了,自動駕駛技術已經出現超過1世紀,理論上科技不停進步,現在的自動駕駛技術已經比當初進步了不少,為什麼依然未能進化到取代人類司機?雖然客機上的自動駕駛系統和地面上汽車的自動駕駛系統設計完全不同,但我們可以借此作為一個參考,去研究為什麼自動駕駛技術依然較難普及和人類司機永遠都不能取替。</p><p> 我們先來看看飛機的自動駕駛系統,飛機的自動駕駛系統主要是在客機飛到指定高度時,讓飛機可以保持原先設定的航道穩定飛行,而大部份的動作,例如起飛降落,地面滑行等動作依然需要機長去完成。飛機在空中與其他航機的距離比較遠,加上有地面控制塔的人引導下,航機出現緊急情況時機師都有更多反應時間,所以飛機的自動駕駛系統的智慧其實不算高。而汽車的自動駕駛系統就複雜多了,汽車在道路上的路況比飛機在天空中的情況更為複雜,汽車在路上遇到緊急情況時,預留給司機的反應時間比飛機更短,要讓一步自動駕駛汽車可以安全地運行,車上需要有大量的儀器去判斷路況和避開障礙物,除了需要裝上全球定位系統外,還需要有不同的感測器、雷達和鏡頭去讓電腦計算。<span></span></p><a name='more'></a><p></p><p> 自動駕駛技術在今時今日已經在客機中被廣泛使用,但是為什麼依然不能應用於汽車上?雖然前一段提到飛機的自動駕駛技術比汽車的自動駕駛技術更為簡單,但飛機自動駕駛技術的缺陷,依然可以應用於汽車自動駕駛技術身上,而當發生緊急事故時,由於汽車在道路上的反應時間比飛機在天空中少,意外的發生有機會變得更為嚴重。</p><p> 自動駕駛的第一個缺陷就是基本上所有電腦都會出現的問題:運算結果錯誤。導致這個情況的出現原因主要有兩種:先天設計錯誤而導致運算結果錯誤和運算期間出現錯誤。無論是當今最先進的電腦,都會有機會運算錯誤,這個是不能避免的,波音737 MAX客機就是因為當初飛行電腦的設計失誤,導致飛機持續自動壓低機頭,最後墜毁。<span style="color: #2b00fe;">世上沒有最安全可靠的系統,只有人類和電腦互相監察才是最安全的組合</span>。而另外一種運算結果錯誤的原因就是輸入的資料是錯誤。當輸入的資料是錯誤時,無論運算結果是否正確,最終答案都會是錯誤。例如飛機上的自動駕駛系統當飛行員輸入錯誤資料時,自動駕駛系統就會帶領飛機前往錯誤的地方,而自動駕駛汽車也是一樣,當汽車鏡頭或不同的感應器接收到錯誤的資訊而電腦沒辦法辨認,就有機會發生意外。曾經有<a href="https://auto.ltn.com.tw/news/8182/43">報告</a>指出,貼在路牌上的貼紙已經可以讓電腦錯誤理解路牌的意思,從而發生意外,加上路面情況變化多端,部份情況依然需要依賴人類去操控汽車,例如前方有人向駕駛者做出停止前進的手勢,那位人士的手勢是否正確?我相信行車電腦絕對冇辦法辨認出前方人士的行為,這是需要依靠駕駛者的經驗去決定,是電腦無法取代的。人類司機雖然會犯錯,有機會醉酒駕駛或疲勞駕駛,但不可否定的是,他們依然有存在的價值和需要。</p><p> 自動駕駛系統的網絡安全問題也是一個令人關注的地方。隨着行車電腦的代碼變得更加複雜,徹底測試電腦的漏洞也同時變得越來越困難,這意味着電腦系統的漏洞也會同時增加,為黑客的攻擊提供了更多機會。無論是客機還是自動駕駛汽車,都有機會被黑客攻擊。這樣自動駕駛系統就有機會發生意外,甚至被完全鎖死無法工作。軟件的缺陷亦可以讓使用自動駕駛系統的汽車不能運行,過往也曾經試過有特斯拉汽車因為軟件更新有缺陷,令全車鎖死。有時科技越複雜,看似安全性能夠提高,但需時要解決的缺陷也會同時增加,在有些時候簡單就是美。</p><p>上述情況例如行車電腦被黑客入侵和電腦計算錯誤,都會導致意外的發生,司機持續和汽車的電腦人機互鬥,直至汽車失去控制。所謂「人機互鬥」就是司機在手動操作汽車的同時,行車電腦也同時在操作汽車,最後就會導致司機無法理解為何汽車會出現狀況,持續和汽車電腦鬥力,但往往人機互鬥的結果會是電腦勝利,汽車最後就會像有自我意識一樣,把汽車推往一個無法控制的行車姿態,最終發生意外。波音737 MAX上的例子就是飛機頭持續向下,機師無法利用機上的操縱桿去控制飛機,最終發生悲劇。</p><p> 我不是否定自動駕駛的存在,我只是認為,支持和反對自動駕駛的人,過分神化了或看輕自動駕駛系統,再安全的系統,都會有機會出問題。科技應該是用作輔助人類有更安全更美好的生活,而不是倚賴科技,甚至試圖用科技取代人類。木頭姐曾經講過,全美國八成的交通意外都是人為因素引起。我同意這個說法,但是人為因素=全部都是駕駛者的錯誤?自動駕駛可以消除大部份駕駛者在駕駛途中發生錯誤的機會,但交通意外的發生可以因為其他道路持份者而引起,例如行人、動物和其他駕駛者等。預測其他持份者的行為是一種非常困難的動作,雖然現在自動駕駛技術的研發方向開始研究人類的行為去讓自動駕駛系統做出相應的動作,但是判斷錯誤的機會依然會存在,而一個錯誤的決定好大機會會導致不同的連鎖反應。外來因素是讓自動駕駛系統難以普遍的其中一個原因,如果需要解決這項問題,現時所有的道路需要重新設計和建造,例如要全面密封,防止有外來物件侵入。人類研究使用自動駕駛系統不外乎都是因為經濟因素,最大的問題不在於科技是否能夠做到,而重點是在成本和實用性,我們需要投入大量金錢,大幅去修改現行的汽車和道路制度和架構。汽車上的自動駕駛系統距離這個目標還有很長的一段路需要走,說不定有一天路上真的只有無人汽車,但我覺得人類司機依然有他存在的價值,就是當進入緊急情況時,人類司機的直覺可以協助自己和車上的乘客脫離險境,所以憑以上的論點,未來汽車上沒有方向盤、油門和剎車是完全不可能的,就算科技成熟,人類司機也可以作為最後的把關,如果未來的汽車完全沒有方向盤、油門和剎車腳踏,你可以想像自己是波音737 MAX上的機師,因為飛行電腦的問題發出錯誤指令,機頭不能向上,只能被向下壓,眼白白看着自己所操控的飛機從天上向下墜落地面的恐怖情況,</p><p> 如果未來汽車完全沒有傳統汽車的方向盤和煞車系統,在發生緊急情況時的經歷就會和上述的機師和乘客相近,你能接受嗎?所以我認為引入自動駕駛系統需要經過嚴格的測試和設計,確保在實際道路上能正確應用技術,但汽車的方向盤、剎車腳踏和油門必須繼續保持於駕駛座中,而坐在駕駛座的人,必須要像現在一樣,接受全手動汽車的駕駛訓練和擁有汽車駕駛執照,以便在緊急時可以隨時接管汽車。自動駕駛汽車也需要設立一個系統,可以讓人類司機隨時停止車上的自動駕駛系統,改為人類操作。</p><p> 在最後,外科醫生兼作家葛文德(Atul Gawande) 曾在某期The New Yorker 雜誌說到「談到醫學進步,每個人都只想到科技。可是,醫生的技術也非常重要,絲毫不輸科技。這點可以套用在各行各業上,真正造成差異的,是大家運用科技的技巧」。科技的進步應該是用來改善人類的生活,而不是用來被人類倚賴,甚至取代人類。</p><p><br /></p>晨曦http://www.blogger.com/profile/01331144244005855332noreply@blogger.com3tag:blogger.com,1999:blog-8366134160104830312.post-14895425348917906282021-03-27T13:12:00.004+08:002021-03-27T13:12:40.878+08:00Tesla 2025年目標價$3000 真的嗎?<p> <span style="font-size: medium;">方舟投資剛剛在數天前發表了對Tesla2025年的目標價格,他們認為Tesla可在2025年股價有50%的機會率可以上升到3000美金。他們認為基於2025年的自動駕駛收入、賣車收入、汽車保險收入和司機駕駛叫車服務(Human Driven Ride-Hail)合共加上的估值足以讓Tesla股價大幅上升。我的角度如標題所是,真的嗎?</span></p><p><span style="font-size: medium;"> 先來說說汽車保險收入,我對這一部份的內容並沒有太大異議,反而我都幾看好這一部份。簡單業務,穩定現金流,這類現金牛的業務既可以讓公司保持強勁現金流,強勁的現金流可以令Tesla的研發成本可以更容易得到融資。</span></p><p><span></span></p><a name='more'></a><span style="font-size: medium;"><br /></span><p></p><p><span style="font-size: medium;"> 至於賣車收入,方舟投資認為在2025年,Tesla賣出電動車總數為5,000,000輛,收入為2340億。我比較注重車輛的銷售數量而多於它的價格 。Tesla電動車的價格定價我相信在未來也不會太進取,我曾聽過一些股評人對Tesla賣車的業務有以下的評論:Tesla賣車賣一部蝕一部,這間公司賺錢的方法主要是靠賣出排放二氧化碳的限額等鬼話。我就認為電動車在Tesla的策略中,只是一件進入Tesla生態圈的工具。一個入門的工具當然就不會以高定價售出,真正讓Tesla能賺取大量的收入是它的輔助駕駛系統訂閱甚至是未來的全自動駕駛軟件訂閱費用,這種策略就會將蘋果公司把iPhone的定價慢慢降低一樣,蘋果公司的策略是iPhone是未來蘋果家居的遙控器,如果入場門檻十分昂貴,這樣怎會有人有意欲去購買或訂閱它背後的服務?</span></p><p><span style="font-size: medium;"> 我認為在2025年,電動車的世界將不會是一間公司獨大。美國有Tesla,歐洲的電動車車廠好大機會是福士,而亞洲的電動車車廠較高機率會是位於日本的一眾汽車公司,例如豐田汽車等。中共不會容許有外來技術的公司在中國壟斷,所以中國境內都會有一所電動車的車廠以抗衡其他勢力。Tesla在2025年的5,000,000輛汽車銷售目標,有當中的一部份都是來自中國市場,但是在全球電動車產業開始從單一公司壟斷,慢慢變成數間公司瓜分電動車市場,Tesla真的能在2025年做到這個目標嗎?</span></p><p><span style="font-size: medium;"> 至於網約車服務,Tesla未來的打算是推出robotaxi服務,方舟投資認為這項服務會是Tesla第二大的主要收入來源,這一點我都沒有太大的異議,唯一一個問題是,有沒有車主會真的加入這個計劃?這是一個沒有答案的問題,將你自己的車子加入RobotTaxi,這是意味着你會失去你自己車子的部份權利,當你的車子完成載客自動地回到家中時,車子裏的清潔情況可能會讓你感到十分頭痛,加上你的車子已經外出接客,當你自己需要車子時可能也需要叫車,十分不方便。更長的行駛時間和距離即是意味着需要更加多的充電次數,這樣電池的老化速度也會同時加快,換電池的頻率也會同時增加。幸好的是,Tesla曾承諾在Robotaxi初成立時,如果沒有足夠的車輛去營運,Tesla會利用自家公司的車輛投入這個計劃中。所以這個部份的收入關鍵在於有多少車主願意把自己的車子投入在這個計劃中和最重要的關鍵因素:自動駕駛的技術。</span></p><p><span style="font-size: medium;"> 電動車銷量和自動駕駛技術真的可以在2025年達到方舟投資的目標嗎?好坦白地說,我個人覺得方舟投資的預測是過分樂觀。樂觀的程度好比2015年大時代中,大部份評論員都會認為港交所的股價會升到$500的道理一樣,我所指的不是不能去到這個目標,是2025年真的達到這個目標嗎?這好比港交所的股價不是不能達到$500,但是在2015年時有可能達到嗎?我就認為到2025年時,電動車會比現在更廣泛應用已自動駕駛技術也有機會推出市場,但他們有機會仍然未能成為主流。下兩篇文章,我會討論一下為什麼電動車依然比較難普及和自動駕駛技術未必能夠完全取代司機。</span></p><p><span style="font-size: medium;"> 各位Tesla好友淡友有咩意見呢?在下邊留言發表你們的看法吧,有不同的交流才會有進步。</span></p><p><span style="font-size: medium;"><br /></span></p><p><br /></p>晨曦http://www.blogger.com/profile/01331144244005855332noreply@blogger.com0tag:blogger.com,1999:blog-8366134160104830312.post-46020331420516892342021-03-10T19:07:00.002+08:002021-03-10T19:10:22.731+08:00不要怕是技術性調整!<p> <span style="font-size: medium;">全球股市在近日都有一個一定程度的回調,港股、美股、A股等全部無一幸免,本次回調重點在於科技股,之前估值比較高的科技股股票在這數天都有比較大的回調。鑒於之前股市的急升主要集中於科技股,所以今次的回調,大部份的科技股都有一定的跌幅。在今次股市調整之前的兩個月,我調整了自己的持倉,買入了一些高估值、高增長的優質科技股,還把一些傳統行業的股票沽出,所以在跌市的幾天裏,自己倉位的股票都有一個較大的波幅,還把之前一兩個月之前的利潤全部蒸發,所以暫時今年的回報和總回報都均為負數。</span></p><p><span style="font-size: medium;"> 今次是自己所經歷的第三過下跌市況,所以相對地都比前一兩次的跌市表現比較淡定,也有開始慢慢按着下跌的步伐去慢慢買入不同公司的股票,最重要是雖然帳面上虧了一大筆金額,但我依然每一晚都能安然入睡😂</span></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg0S7aFAmltdR3fF4OnLOtS4pOxcABVsB5XNEl9zr1WN5lL8dFOSDgs59Qyl8GFIidIdDccUEFYXZ8USgQsQ-diTYyt7K14bIOdNsoIv0ElcFQw1mUWgieiB-LcP3G1ktxJReDQY86xNzAX/s480/3881079449_8932fbbb28_o.jpg" style="margin-left: 1em; margin-right: 1em;"><span style="font-size: medium;"><img border="0" data-original-height="360" data-original-width="480" height="300" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg0S7aFAmltdR3fF4OnLOtS4pOxcABVsB5XNEl9zr1WN5lL8dFOSDgs59Qyl8GFIidIdDccUEFYXZ8USgQsQ-diTYyt7K14bIOdNsoIv0ElcFQw1mUWgieiB-LcP3G1ktxJReDQY86xNzAX/w400-h300/3881079449_8932fbbb28_o.jpg" width="400" /></span></a></div><p style="text-align: center;"><span style="font-size: medium;">我身邊的朋友在面對大跌市時的感覺:<span></span></span></p><a name='more'></a><p></p><p><span style="font-size: medium;"> 早一段時間,身邊有越來越多的朋友都詢問我關於買賣股票的問題,當市況開始逆轉,自己本身的盈利被蒸發,心裏就開始緊張,不停地詢問我該怎麼辦,更甚有些朋友已經寧願蝕錢都賣出了自己本身的持股,放棄買賣股票。我一直強調財不入急門,買賣股票從來都不是一個搵快錢的途徑,今次對於他們來說算是一個好好的教訓吧。</span></p><p><span style="font-size: medium;"> 長線持有,說易行難,當買入該間公司的理由依然存在,而只是股價上的下跌,為什麼我們需要賣出該公司的股票?只要自己的策略是正確,就需要去堅持繼續去執行。最近科技股股價大跌連帶ARK 系列ETF 的股價也同時下跌不少,連登契媽就像過街老鼠一樣-人人喊打,本身追隨她的信徒,現在又發現巴菲特的回報已經超越了他,又重新開始吹捧巴菲特。我不評論他們的行為,我只想帶出堅持自己的策略和長線持有才是能在投資市場中成功的不二法門。就像巴菲特堅持只會買有安全邊緣的好公司,然後長期持有他們。而契媽仍然是持有不少未來有機會成為不同行業顛覆者的公司股票,雖然他們的投資風格完全不同,但他們不會因為市況的逆轉,而去放棄自己一直以來的策略,這一個才是他們成功的關鍵。巴菲特已經持有可口可樂公司的股票超過40年的時間,依然對他不離不棄。而契媽也在這輪大跌市中,買入了不少的Tesla股票,對於一間好公司來說,時間是他們的朋友而不是敵人,他們兩人的行動都能看到長線持有股票才是正確的策略,為什麼我們不去長線持有,讓時間站在我們的一方,而去不停炒炒賣賣,買高賣低,最後變成股市中的韭菜?</span></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjqJONNEIeCN1oeFYtU4jAslGLyJv3bVjPYG7Nq1S4R5KT54A4kgqBpZCOl3BLmY_g2ngjEwIPVtaWJdqU9iYooNln27S4VHH_rlceuxEPFUpyfzIDYStf1jHaQ5Z1mSdthwNktyzawtYyA/s480/3207789646619667.jpg" style="margin-left: 1em; margin-right: 1em;"><span style="font-size: medium;"><img border="0" data-original-height="360" data-original-width="480" height="300" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjqJONNEIeCN1oeFYtU4jAslGLyJv3bVjPYG7Nq1S4R5KT54A4kgqBpZCOl3BLmY_g2ngjEwIPVtaWJdqU9iYooNln27S4VHH_rlceuxEPFUpyfzIDYStf1jHaQ5Z1mSdthwNktyzawtYyA/w400-h300/3207789646619667.jpg" width="400" /></span></a></div><p style="text-align: center;"><span style="font-size: medium;">聽燦一席話 勝讀萬年書</span></p><p><br /></p>晨曦http://www.blogger.com/profile/01331144244005855332noreply@blogger.com4tag:blogger.com,1999:blog-8366134160104830312.post-10397328485157328502021-01-18T23:58:00.002+08:002021-09-24T00:37:05.710+08:002020組合持倉和表現 2020年已經過去,關於自己在2020年投資上的總結和一些檢討已經在<a href="https://have1111.blogspot.com/2020/12/2020.html" target="_blank">上一篇貼文</a>中,有興趣的網友和還未閱讀的網友可以先去閱讀上一篇貼文。<div><br /><div> 自己的組合在2020年連股息計算,有20.11%的回報</div><div>而相比同期:恆生指數-4.14%,標準普爾500指數+16.26%,道瓊斯工業平均指數+7.25%,納斯達克指數+43.74%,ARKK+124.49%,AIEQ(利用AI選股的ETF)+22.12%。換言之自己的組合在2020年跑贏了恆生指數、道指和勉強跑贏標普500指數。但是落後於連登契媽的ARKK,AI和納斯達克指數。</div><div><br /></div><div> 關於個股方面,截至今日(18-1-2021)現時持有8隻股票,當中包括百富環球、必瘦站、金界控股、海爾智家、Apple Inc、Adobe Inc、Mastercard Inc、和台積電-ADR。</div><div>而截至今日(18-1-2021),個股的回報如下:</div><div>百富環球(0327)+60.77%</div><div>必瘦站(1830)+96.59%</div><div>金界控股(3918)+19.39%</div><div>海爾智家(6690)+6.28%</div><div>Apple Inc(AAPL)+9.57</div><div>Adobe Inc(ADBE)+1.73</div><div>Mastercard Inc(MA)+4.5%</div><div>台積電-ADR(TSM)+54.88%</div><span><a name='more'></a></span><div><br /></div><div style="text-align: center;"><img height="383" 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" width="620" /></div><div><br /></div><div style="text-align: center;">截至今日(18-1-2021)組合持倉</div><div style="text-align: center;"><br /></div><div> 在近期,因為美股有一些回調,所以導致倉內的美股的回報有減少,但近期台積電的升幅足以抵消其他美股的回調。而港股方面,金界控股、必瘦站和百富環球都在上一年取得不錯的回報,而買入海爾智家的原因買入價是便宜,加上海爾智家的潛力還未完全發揮,所以值得繼續持有。</div></div><div><br /></div><div> 上段提到,部分美股現在有回調的現象,所以倉內的股票會有機會進行增持,例如Mastercard和Adobe等。而自己的現金比例依然偏高,佔自己總組合的62%,現時繼續積極尋找投資機會,希望可以把組合的現金進一步降低。</div><div><br /></div><div> 展望2021,隨著疫苗的推出,世界經濟有機會慢慢回復正軌。當世界經濟回復正軌時,在那時才買入股票可能已經太遲,所以我會慢慢分段部署吸納不同好公司的股票和慢慢開始增加自己的倉位,但會繼續保留一定的現金以防出現回調或黑天鵝的情況。在2021年,我會繼續加大投資美股,並開始研究一些不能用傳統估值計算股值的新經濟股公司。除了美股,民生相關的中概股也是我會考慮買入的公司,但對中國的科技股暫時興趣不大,在下一篇文章我會說說不考慮買入中國科網股的原因,有興趣的網友可以繼續留意。</div><div><br /></div><div><br /></div><div><br /></div><div><br /></div>晨曦http://www.blogger.com/profile/01331144244005855332noreply@blogger.com5tag:blogger.com,1999:blog-8366134160104830312.post-13459117627829802112020-12-24T03:56:00.001+08:002021-01-18T23:59:22.044+08:002020投資總結 2020年即將完結,今年同時是一個不簡單的年度。經歷了年頭大跌市,隨後的V型反彈,負油價、美股熔斷等情況。幸好,今年自己組合的回報對於一個踏入投資世界的新手來說,算是不過不失,自己的持倉和回報會在<a href="https://have1111.blogspot.com/2021/01/2020.html" target="_blank">稍後的貼文</a>中再詳細披露。今天貼文我主要想說說我在2020年投資市場中,所學會的東西。<div><br /><div>第一項:在投資世界什麼時候可以發生。</div><div> 我們都會對一些事物有一種基本的認識,會認為有一些情況是永遠不會發生的,例如太陽永遠不會在西邊升起等情況。但今年的市況讓我明白到在投資市場的世界,什麼奇怪的事情都有可能發生的。下一次當大家認為在經濟衰退時股票價格一定會下跌和商品價格一定不會跌到零以下時,請緊記今年曾經發生的事。</div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjKZCA3HqLALBWxvEgZIfYbpxfacxPsplzjoxJPIJRFaLDU4SXsOs8ORLb4ep3dA0W-I0J51DA7T3ffkY4XyxqZdxpuGq3lXaD6HrthOby5u6mK3uGru_mBRZURQP5PGQY8SdEDRa4uVXN_/s858/106489661_3364469750240368_7375611795645725530_n.png" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="557" data-original-width="858" height="416" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjKZCA3HqLALBWxvEgZIfYbpxfacxPsplzjoxJPIJRFaLDU4SXsOs8ORLb4ep3dA0W-I0J51DA7T3ffkY4XyxqZdxpuGq3lXaD6HrthOby5u6mK3uGru_mBRZURQP5PGQY8SdEDRa4uVXN_/w640-h416/106489661_3364469750240368_7375611795645725530_n.png" width="640" /></a></div><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgjZAIqrNzhCc2xTJ5wUW0nstSexgRPuaI5Q7F2vA7hiavRqiy3G3TYO0RYO3tp_LB7SU_02odRCB5HPY-7ooGyfNM2QaFRFHxsPJc4lkE6XEE2bdQy0zAA1s8fC4pOqlb7zjq0mDVC5Xbo/s858/106704310_3364470126906997_7184265339937612154_n.png" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="526" data-original-width="858" height="392" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgjZAIqrNzhCc2xTJ5wUW0nstSexgRPuaI5Q7F2vA7hiavRqiy3G3TYO0RYO3tp_LB7SU_02odRCB5HPY-7ooGyfNM2QaFRFHxsPJc4lkE6XEE2bdQy0zAA1s8fC4pOqlb7zjq0mDVC5Xbo/w640-h392/106704310_3364470126906997_7184265339937612154_n.png" width="640" /></a></div><u><div style="text-align: center;"><u>時刻提醒自己,在投資市場的世界,什麼奇怪的事情都有可能發生</u>(credit:<a href="https://www.facebook.com/jameschen1966/posts/3364807763539900" target="_blank">副總裁的理財日誌</a>)</div></u><span></span><span><a name='more'></a></span><div><br /></div><div>第二項:不要買入自己不了解的東西。</div><div> 在今年五月的時候,油價大跌,當時的我就是認為有家正常時間不會出現負數,所以就買入了一隻追蹤原油期貨的ETF,但最後結果在之前的貼文已經說過,有興趣的網友可到<a href="https://have1111.blogspot.com/2020/05/blog-post.html" target="_blank">該貼文</a>查看。當時的我並不完全了解原油產業,更不知道該ETF是需要每個月尾把期貨合約轉倉,更打算長期持有那ETF,所以最後虧損超過50%。這個教訓讓我明白到,在買入任何資產或進行任何投資前,必須要做好充足的資料搜集。</div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjD2EOUwd2qMFsa6dPyRFmLHdjLW-dPEAerhvMQBoIHDxjgP2TAIG3aN9mfgMtnpjKpVAqgG5jKhm-qdnXjszPStvbu_Mu5RmFfCVw0n0vKmdzQWienQvYWPtCXjp8Bjo-Sr0WdaffCCBEW/s1024/20200422_317555555555_1024.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="576" data-original-width="1024" height="360" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjD2EOUwd2qMFsa6dPyRFmLHdjLW-dPEAerhvMQBoIHDxjgP2TAIG3aN9mfgMtnpjKpVAqgG5jKhm-qdnXjszPStvbu_Mu5RmFfCVw0n0vKmdzQWienQvYWPtCXjp8Bjo-Sr0WdaffCCBEW/w640-h360/20200422_317555555555_1024.jpg" width="640" /></a></div><div style="text-align: center;"><u>中伏這事情,可一不可再</u></div><div><br /></div><div><br /></div><div>第三項:捉到鹿就一定要脫角?</div><div> 組合曾在今年7月賣出所有的比亞迪股票,賣出價為$73.45和在今年度十月賣出了所有迪士尼公司的股票,賣出價為$125.22。最後這兩隻股票的升幅我相信應該不用多說,其中比亞迪比我的買入價最高峰時有大約五倍升幅。翻看當時的筆記,賣出比亞迪的原因是因為估值明顯過高,而賣出迪士尼的股票是因為新冠肺炎疫症依然肆虐全球,迪士尼大部分的業務都不能正常運作,加上當時迪士尼的股票在自己的股票倉中比重不大,所以就買出而加強自己其他股票的集中程度。雖然這兩隻股票都得到一個不錯的回報率,但有沒有方法可以讓自己的回報變得更大呢?在今年前,我的策略是自己心儀的公司股票可以在價格合理以下的價格買入,然後在價格完全偏離價值時買出,但意料不到的是,股票的價格可以上升到一個完全偏離合理值的地方,這一點是我完全預計不到的。我相信這種情況在未來一定會繼續發生,因為無限量的濫發鈔票,會導致聰明錢會流入不同的資產中,有質素資產的價格只會在未來不停地升高,雖然可能投資市場間中會有一些調整,但是長遠來說有質素的資產價格只會向上。所以我修改了我的策略,從原本當資產價格上升一個不合理的水平時,就會賣出大部分甚至全部持股改為繼續長期持有,不太理會該資產的價格,除非該資產的質素出現重大改變、該公司的業務出現重大的改變、或在股價戓市場明顯過熱時,只會賣出極少部分持股,而不會一次過買出所有持股。俗語有云:會買是徒弟,會賣是師父,買入時機其實基本上我已經大致掌握,但賣出時機還需要更多的時間才能把握到。</div><div><br /></div><div> 2020年即將過去,大家今年的投資回報還好嗎?展望在2021年,大家的投資回報會比今年更好,也希望2021年這個世界會回復正常,能過回不需要戴口罩的日子,最後也祝大家聖誕、新年快樂,也祝願香港和在遠方的香港人能平安,有緣再聚。</div><div><br /></div><div>PS.這一個小小的blog的瀏覽量終於突破一萬人次,感謝每一個曾花時間參觀和閱讀小弟的帖文,更感謝曾在本blog留言的blogger和網友。你們的留言是給予我更大動力去經營這個blog,讓我明白到自己的帖文會得到別人的注意和認同,在前往財務自由和投資路上不是孤單一人,再次感謝你們。</div></div>晨曦http://www.blogger.com/profile/01331144244005855332noreply@blogger.com4tag:blogger.com,1999:blog-8366134160104830312.post-47029088168598065782020-10-01T14:14:00.000+08:002020-10-01T14:14:01.873+08:00散戶對匯豐的荒謬睇法 近日匯豐控股的表現備受市場關注,有大量壞消息困擾著匯豐控股,當中包括宣佈在第四季除淨後取消派息、被美國政府指控涉嫌洗黑錢然後把黑錢匯進香港的戶口、參與龐氏騙局和被《環球時報》點名批評有機會列入「不可靠實體清單」中,導致近期股價大幅向下,曾觸及25年來的低位,但又因為大股東平安保險增持股份,股價也曾在短時間急升10%,令大量散戶對她又愛又恨。筆者我是一個理性的投資者,匯豐控股的基本面在我看來,沒有最差只有更差,完全找不到一個合適的理由說服我自己去買入這間公司。但令我好奇的是,有不少散戶依然有著不同千奇百怪的原因而去買入匯豐控股的股票。今天文章筆者我就列舉幾個市場上對匯豐的傳言,然後討論一下筆者我對這些傳言的看法。<div><br /><div> 第一個傳言:聖誕鐘買匯豐。這是指在每年聖誕之前後買入匯豐控股,通常會獲得較佳回報,這是因為臨近年尾,不少基金經理為了做好年度結算,他們會買入大型藍籌股例如匯豐控股等推高恆生指數,另外匯豐一年派息4次,而最後一次派息通常都是四次派息中最多股息的一次,所以傳統智慧認為在這個時候買入匯豐能財息兼收。但這傳統智慧在2000年後開始失效,因為匯豐的業績已經開始慢慢走下坡,而到2008年金融海嘯時更是致命一擊,況且匯豐控股在每年最後一次派息都會是該年最多的一次,這是因為在外國文化中,當中聖誕節的地位是等於中國文化中的農曆新年一樣,所以匯豐在年度最後一次派息時,派息會特別多豐厚,讓當時大部分的外國人高層能得到更多股息去度過他們的新年。時移世易,香港的主權早已經移交,匯豐控股的重要性不像以前一樣,加上在歐洲和美國的業務都錄得巨額虧損,業績向下,雖然股息依舊,但只是靠著派發自己本身持有的現金去維持派息政策,所以這種派息政策是不具有可持續性,散戶聖誕鐘買匯豐只是一個未經思考,人云亦云的荒謬看法。</div><span><a name='more'></a></span><div><br /></div><div> 第二個傳言現價買入可以收高息。執筆時匯豐控股的股價是$29.8,如果以現價買入的股息率是13%,但能收到高股息的一個重要因素是下一次的派息會回復正常,匯豐控股曾在4月時宣佈,暫停派發2019年第四次股息,並在2020年底前也會暫停派發所有普通股的季度或中期股息,所以匯豐控股股價雖然低殘,息率超過10%,但暫停派息,買入的股東依然收不到任何股息,所以高息完全不是一個買入的理由。</div><div><br /></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgKL_QTeFBIP9nsQPICgEKwnzuWuSQen2FXBPY0KLhr-8LastN8WW_aerBdACrKAwnU6WHnQiyJ60AjK8ZmnGFhtX1BCYhk1pmzde5rKzTcFt1hTBYmoQzVlZ5WlgQB3WnDVioIOx3Oian-/s830/%25E8%259E%25A2%25E5%25B9%2595%25E6%2593%25B7%25E5%258F%2596%25E7%2595%25AB%25E9%259D%25A2+2020-10-01+135329.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="642" data-original-width="830" height="496" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgKL_QTeFBIP9nsQPICgEKwnzuWuSQen2FXBPY0KLhr-8LastN8WW_aerBdACrKAwnU6WHnQiyJ60AjK8ZmnGFhtX1BCYhk1pmzde5rKzTcFt1hTBYmoQzVlZ5WlgQB3WnDVioIOx3Oian-/w640-h496/%25E8%259E%25A2%25E5%25B9%2595%25E6%2593%25B7%25E5%258F%2596%25E7%2595%25AB%25E9%259D%25A2+2020-10-01+135329.jpg" width="640" /></a></div><div style="text-align: center;"><u>匯豐股價長期向下,股息率超過10%</u></div><div><br /></div><div><br /></div><div> 第三個荒謬買入原因是$28供股價有支持。這個供股價是在2008年金融海嘯時,匯豐控股需要作出世紀供股的供股價,如今股價已經重回這一個價位,反映股價停滯不前,還原基本步,也代表著持有匯豐控股不能讓股東得到一個合理的回報,甚至如果在28元以上買入的股東,很大機會賬面上已經輸掉不少金額,這樣如此差勁的公司依然有大量散戶頭也不回地買入,簡直是世界奇觀!28元供股價純粹是一個心理關口,無論是技術分析還是基本分析,這都不是一個支持位,這個傳言純粹是股東們自我安慰,繼續加注買入溝貨的藉口吧。</div><div><br /></div><div> 其實我還聽到很多不同散戶中聽到他們買入匯豐的理由。例如散戶血肉長城可保股價、匯豐大到不能倒、匯豐是百年老店不會結業等原因。而且有不少散戶都會在不同渠道向所謂的股評人或專家詢問幾時可以撈底匯豐控股等無聊白痴問題。在我的角度,匯豐控股距離全面改革還有很長的路需要走,從基本面角度,匯豐控股完全沒有一個理由值得我去買入。而從散戶角度,他們只會覺得估價越低就是越值得買入,這完全顯示他們對市場的無知,我在前幾篇文章都提過,市場先生會狠狠地教訓一些無知的散戶,讓他們得到應有的教訓,如果想在投資路上撞板的機會減少,繼續努力學習不同的知識是不二法門。話說回來,散戶對匯豐的態度,也印證了香港絕大部分散戶的投資質素,股票市場上有不同公司,不同的工具例如ETF等,而香港大部分散戶只是停留於何時趁低吸納匯豐,然後股價上升幾元後,帳面賺了數千元變賣出,但通常最後股價都會繼續向下,而散戶們就越跌越買、越跌越溝貨,最後手中一大堆賠錢貨,還要繼續自我安慰自己,深信股價最後都會「返家鄉」,然後就到處宣傳股票市場都是有老千在操控,股票市場是不能賺到錢的等荒謬言論。拜託!股票只是一項工具,工具本身沒有分好與壞,工具能否正確使用,完全取決於使用者的身上。散戶們大多還停留在人云亦云,別人買入時跟著買入,還要在買入時完全沒有做任何分析,這樣情況下賠錢是一件十分正常的事,犯了錯其實是沒有問題,但聰明人同一樣的錯只會錯一次,愚蠢的人就會在同一個問題上一錯再錯。</div><div><br /></div><div> 最後我可以大膽的説一句,如果你完全沒有相信或提出剛才在上面段落中提到的荒謬買入原因和向所謂專家問剛才上面的白痴問題,你已經比香港一半以上的散戶專業多了。散戶對匯豐控股盲目的愛,我作為一個有理智的投資者,應該這生人都不會明白他們為什麼會這麼盲目地愛上匯豐這頭大象。</div></div><div><br /></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiBxb_WuB0yMZARiTa4zKVftYePPjeXMEXOjPOofUcbMevWZGBffP-S2nxWfL2T4yLNqPZBYQtYOR3GMnIpzNOkvjuwGf55XoS4NZVE2pUOW0bJo_n2JPXYYocnVt8S2P6Ew3HolM_q022k/s300/24_1236656156z7rs.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="219" data-original-width="300" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiBxb_WuB0yMZARiTa4zKVftYePPjeXMEXOjPOofUcbMevWZGBffP-S2nxWfL2T4yLNqPZBYQtYOR3GMnIpzNOkvjuwGf55XoS4NZVE2pUOW0bJo_n2JPXYYocnVt8S2P6Ew3HolM_q022k/s16000/24_1236656156z7rs.jpg" /></a></div><u>匯豐控股再次回到$28供股價,連胡孟青都說過她不會再為匯豐流淚,但為甚麼依然有大量散戶對匯豐情有獨鐘呢?</u><br /><div><br /></div>晨曦http://www.blogger.com/profile/01331144244005855332noreply@blogger.com4tag:blogger.com,1999:blog-8366134160104830312.post-603072044665491582020-09-10T15:30:00.000+08:002020-09-10T15:30:18.951+08:00利用指數基金作投資依然合適嗎? 在2018年巴菲特致股東的信中,巴菲特提到他和一群基金經理在2008年時下了一個賭注,賭注指數型基金能勝過主動型基金,最後當然是以巴菲特的指數型基金勝出。所以坊間經常都會提出被動投資是勝過主動投資的,我初初進入投資市場時,我都認為這一個理論是絕對正確的,但後來當自己學習得越多不同的知識時,我對這句說話有一些保留。我覺得指數型基金依然在某些場合勝過主動型基金,關鍵在於指數型基金所投資的市場。<div><br /></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhmI5GfSjqg_bI7A-NhrGmBW5lC8CpQh5sELoVSHo0Cx8KcDWOz7jG6_ZL5DtTA_DUTMNI8SK5PEF_gG3V4CB_RYr07AhfhmOQBrDJd1eca3aGqEEXMdFXLqqgSf00_aU1yh9aSY99pNMPH/s822/%25E8%25A8%25BB%25E8%25A7%25A3+2020-09-10+151320.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="598" data-original-width="822" height="455" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhmI5GfSjqg_bI7A-NhrGmBW5lC8CpQh5sELoVSHo0Cx8KcDWOz7jG6_ZL5DtTA_DUTMNI8SK5PEF_gG3V4CB_RYr07AhfhmOQBrDJd1eca3aGqEEXMdFXLqqgSf00_aU1yh9aSY99pNMPH/w625-h455/%25E8%25A8%25BB%25E8%25A7%25A3+2020-09-10+151320.jpg" width="625" /></a></div><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj905Bl1pGmN7JpW2E0oVjGXCvoakiV9d48h3QWSXD4X__vDGDUuo-KfPJhIRs9VMvRFt_QCxoFUUXbP9rQ3vUbfBsTdRgQdRmsse9PhViG0bzuvvIzOdqg-c4cGp6_KTGvQOwH6oYpSXyx/s827/%25E8%25A8%25BB%25E8%25A7%25A3+2020-09-10+151348.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="595" data-original-width="827" height="450" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj905Bl1pGmN7JpW2E0oVjGXCvoakiV9d48h3QWSXD4X__vDGDUuo-KfPJhIRs9VMvRFt_QCxoFUUXbP9rQ3vUbfBsTdRgQdRmsse9PhViG0bzuvvIzOdqg-c4cGp6_KTGvQOwH6oYpSXyx/w625-h450/%25E8%25A8%25BB%25E8%25A7%25A3+2020-09-10+151348.jpg" width="625" /></a></div><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi5LUVwlWvyM_kUUG8UpVkkHVCfxXLKyz8GaVUln8REcH7v96-bKLjb2pSqkNDc20JBewAyZV4PL0Gs_hedq6oLYnJBvZNosW3uvUlXjnxRo8xJAc-_qkBm7vQOn5zh0RdXJyo-e6eerXjo/s831/%25E8%25A8%25BB%25E8%25A7%25A3+2020-09-10+151509.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="577" data-original-width="831" height="435" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi5LUVwlWvyM_kUUG8UpVkkHVCfxXLKyz8GaVUln8REcH7v96-bKLjb2pSqkNDc20JBewAyZV4PL0Gs_hedq6oLYnJBvZNosW3uvUlXjnxRo8xJAc-_qkBm7vQOn5zh0RdXJyo-e6eerXjo/w625-h435/%25E8%25A8%25BB%25E8%25A7%25A3+2020-09-10+151509.jpg" width="625" /></a></div><br /><div><span><a name='more'></a></span><div><br /></div><div> 上圖列出了三個交易所的指數的圖表分別是深證指數、上證指數和日經平均指數,這三幅圖表都能綜合出投資指數型基金未必是長勝將軍。巴菲特也曾說過,在他的遺囑中,他會建議他的後代把大部分的資金都會投資在標普500指數型基金中,這是因為他長期看好美國的經濟增長。這句話說出了投資在指數型基金的重點,就是資金所投資的地區經濟一定要長期向上,指數型基金才能發揮出最大的效能。而為什麼上述三個市場的指數都是有波幅冇升幅,甚至獲得負收益呢?其中一個原因就是該地區的經濟長期向下,日經平均指數就能反映出這一個情況,自從日本經濟泡沫在1990爆破後,經濟就迎來了失落的20年,股市自然就能反映出日本經濟的復甦依然十分緩慢。而上證指數和深證指數所代表的中國經濟,中國經濟在這二十年來都是高速發展,超英趕美,成為世界第二大的經濟體,但為什麼股市依然停滯不前呢?上證指數在執筆時為3255點,中間雖然有波幅,但指數依然停留在13年前。而深證指數在執筆時為12862點,除了2015年大時代時曾最高達至18000點,其他時間都是「有波幅冇升幅」,在上一次深證指數能觸及執筆時的12862點,已經是12年前。一個長期經濟向上的國家所代表的指數,理論上都會是長期向上的,但為什麼這兩個指數絕大部分時間都是有波幅冇升幅?</div><div><br /></div><div> 解答這個問題前,先讓我講解一間公司的股票價格為什麼會上升。公司股票價格上升的原因有兩種,第一種是公司的盈利上升,連帶著市場對該公司的估值同時上升,最後導致公司的股價上升。這是第一種上升的原因,也是我比較樂意看見的上升原因。而第二種股價上升的原因,就是資金追入。上證指數和深證指數在這二十年來絕大部分時間都是「有波幅冇升幅」,或有時候上升了一大輪然後指數還原基本步。當然我不排除有部分股票例如貴州茅台等公司的股價長期向上的,但問題是當大部分的公司的股價都是有波幅沒升幅,長期投資深證或上證指數型基金真是能夠達到巴菲特投資於指數型基金的目標嗎?上面提到中國股市長期「有波幅冇升幅」的原因是在於資金的炒入和炒出,中國股市絕大部分只是依賴資金的炒出和炒入,從熱炒醫藥股到熱炒新上市教育股,到近期熱炒所謂的新經濟股,近數年來應該不難發現資金只是在不同的版塊炒出炒入而導致,大部分公司的實質成長在這二十年來都是十分低微,甚至沒有成長和不務正業,所以導致中國股市的指數只是靠資金的炒而得到不少的波幅,但不能像美股一樣長期向上。</div><div><br /></div><div> 而筆者我覺得隨著港股市場漸漸大陸化,資金在不同板塊炒出炒入的情況在港股會越來越明顯,恆生指數只會越來越像A股,「有波幅冇升幅」。所以我覺得盈富基金的投資價值會越來 越低(除了這個原因之前我也寫了一篇文章講述我自己不會購買盈富基金的理由,詳情可按<a href="https://have1111.blogspot.com/2019/10/2800.html" target="_blank">這</a>),我覺得投資於香港的指數型基金,未必能像以前一樣獲得一個不錯的回報,提高自己的選股能力和提高自己能在不同市場投資的能力是提高投資回報的不二法門。所以在一些經濟長期下行或市場只是依賴同一資金在不同板塊中炒出炒入中投資指數型基金,結果只會是失敗收場。</div><div><br /></div><div> 巴菲特所講的東西絕大部分都是正確的,但有不少人從來都沒有了解他說話中的深層意義。投資從來都是艱難的,因為賺錢從來不是一件容易的事情,坊間大多都把指數型基金形容為「懶人基金」,我覺得這個字眼絕對會誤導不少人,認為投資是一件簡單的事情。的確,這些基金設計的原意是讓一些投資者有一個較為簡單投資於市場的途徑和能得到和市場相同的回報,但如果沒有做好資料搜集,只是盲目追別人的說話,就貿然把自己的金錢作出投資,絕對是一個危險的事情,當年有不少散戶就是在A股大時代中損失了不少金錢,其中原因就是在高位買了指數型基金,把指數基金熱炒,最後泡沫爆破,指數基金價格一去不復返。所以勸奉大家,千萬不要認為買入指數型基金就是一個安全的做法,在投資市場買入不同產品前,都一定要做好資料搜集,那些盲目追入、只是按聽明牌投資、再買入錢完全沒有去了解該投資產品的散戶,最後只會被市場先生狠狠地教訓一番,上星期五開始的美股股災正是一個市場先生狠狠教訓散戶的好例子。</div></div>晨曦http://www.blogger.com/profile/01331144244005855332noreply@blogger.com4tag:blogger.com,1999:blog-8366134160104830312.post-65023488324881492632020-08-24T23:11:00.000+08:002020-08-24T23:12:20.398+08:00應否和舊經濟股全面割席嗎?(下)(未瀏覽上篇的讀者,可按<a href="https://have1111.blogspot.com/2020/08/blog-post.html" target="_blank">這</a>先閱讀上篇)<br />
而第二個我會考慮的角度是,你是一個什麼類型的投資者?我絕對相信有興趣可瀏覽本blog的blog友們絕大部分都是價值投資者,我所指的是究竟你是一個著重現金流的投資者,還是一個著重資本增值的投資者呢?清楚自己的定位對投資者來說是一件十分重要的事。因為進入投資市場最不應做的一件事是不清楚自己在做什麼。究竟你是想從投資市場中讓自己的資本得到增值,還是從市場中獲得穩定的現金流。這一點投資者必須十分清楚,因為不同類型的投資者所買入的投資產品和資產配置都會不同,如果不清楚自己的目標而所買入的投資商品或資產配置都有機會不適合自己,未能達到自己的目標。<br />
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言歸正傳,在討論標題的問題前,我們先理解舊經濟股和新經濟股中的公司大部分是什麼產業。舊經濟股大多數公司的特徵都是公司業務十分成熟,公司業務很難像當初開始時有爆發性的增長,例如有銀行業、地產業、零售業和公用事業等,而當中公用事業股也包括了例如燃氣、電力、供水服務、公共交通系統等公司。這些公司的收入很容易被預測,而且他們的增長和跌幅都不會有大幅的上落,加上這些公司的業務大部分都是有壟斷或寡頭壟斷的情況,所以收入通常都十分穩定,利潤也有一定的增長。但是他們的業務絕大部分都有不同的法律去限制,例如中電和港燈就有利潤管制協議,所以他們的利潤只會平穩地增長。而這些公司把他們的利用拿去再投資的意欲不高,所以這些公司會把大部分的盈利甚至是全個財政年度所賺得的盈利都會全數分派給股東。<br />
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而新經濟股的公司就剛好相反。新經濟股的公司大部分都是一些新興產業,例如電動車、生物科技、機械人、自動化系統、太空探索等。這些公司都有一個共同的特徵就是:這些公司所經營的產業都不是成熟的產業,需要持續投入大量資金去營運或進行研發。但這些公司所推出的服務或產品在這一刻依然未成熟,所以這些公司大部分都是在虧損或只有少許盈利的情況。他們會傾向把賺得的盈利或公司的資金投放於進行研發或增加市場佔有率,這些公司都會傾向不會派發股息或只會派發少許股息讓資金可以繼續進行再投資的行動。<br />
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根據以上的分析,舊經濟股市比較適合需要有穩定現金流的投資者。因為他們的業務比較穩定,利潤可以預算到加上這些公司會傾向把賺得的大部分甚至全部利潤以股息派發給股東,這些公司的股息發放政策會是比較穩定。如果你的策略是自己的投資成績是不太重要,而是比較著重穩定的現金流,我相信舊經濟股會比較適合這種投資者。<br />
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而相反,希望獲取資本增值的投資者會比較適合投資於新經濟股。因為新經濟股裏的公司雖然現在大部分的產品或服務都是仍然在起步階段,失敗的風險也不低。但只要小心選擇公司和在一個合適的時機分段買入,一旦這些公司的產品或服務能顛覆原有產業成為主流所使用的產品,投資者所獲得的利潤將會是無限大。什麼叫顛覆性科技和破壞性創新?以<a href="http://2080pareto.blogspot.com/2019/05/blog-post.html" target="_blank">格爾兄的定義</a>是能顛覆現有產業和成為未來的龍頭產業。例如有當年的蘋果公司成功挑戰當時的手機霸主諾基亞,Netflix的成功也讓絕大部分的租借光碟公司結業。所以投資這些公司絕對是以「刀仔鋸大樹」令自己的資本能得到快速的增值。但緊記投資這類企業的風險相比投資舊經濟股的程度也高出不少,所以一定要有充足的風險管理和資產配置才去投資這些企業。因為這些企業較難估值,企業是否能成功也未必保證,一旦企業失敗投資,本金一定會受到巨大的虧損。<br />
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以上我所講的角度大家請勿盲目跟隨。因為每一個投資者所使用的投資系統都是獨一無二的,只要該投資風格是適合該投資者和能在投資市場中賺錢,無論是偏好舊經濟股還是新經濟股,只要能在投資市場中賺到錢的都是好股。而我自己會保留少部分舊經濟股例如港鐵公司、必瘦站等而隨著我自己能力圈的增加,我會慢慢把不同的新經濟股加入自己的觀察名單或自己的組合中。<span style="background-color: yellow;">百貨應百客,緊記這句話。</span>在投資市場中不同人買不同的股票作為投資是一件十分正常的事,別人的投資風格與自己不符就去攻擊和質疑別人是一件十分不明智的事。堅守自己認為正確的方法,消除身邊的雜音往往是在投資中最難做到的其中一件事。<br />
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除了以上兩個角度,大家對是否買入新經濟股或舊經濟股有沒有其他的角度可以供大家參考一下?歡迎在下面討論交流。<br />
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P.S.<a href="http://2080pareto.blogspot.com/" target="_blank">格爾兄</a>我覺得是在blogger界中,對顛覆性科技比較有一個全面的認知和認識的blogger。他的分析文章令我從專注研究舊經濟傳統產業股到開始了對科技股的研究。他同時也說服了我,價值投資也可以同時應用在高估值的科技股中。在他的blog中我學習到不少東西,但很可惜他因為轉換了自己的工作,準備去開展自己的新事業而需要封筆一段長時間。雖然我只是在blogger中認識他,和他素未謀面,但希望在此祝願他能追夢成功,在未來的事業上工作順利。</div>
晨曦http://www.blogger.com/profile/01331144244005855332noreply@blogger.com2tag:blogger.com,1999:blog-8366134160104830312.post-78960239351066136522020-08-13T17:49:00.001+08:002020-08-24T23:12:03.122+08:00應否和舊經濟股全面割席嗎?(上) 全球股市在三月恐慌性下跌後,各國央行大力推行量化寬鬆,令大量熱錢流入資產和股票市場,令股票市場迅速反彈。可是今次所反彈的股票絕大部分都是新經濟股,例如科網股等。而舊經濟股例如地產股、公用股、傳統收息股等依然沒有起色,所以不少人就都拋售舊經濟股及轉投新經濟股的懷抱。<br />
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的確,在今次反彈浪中,新經濟股的反彈是比舊經濟股的反彈來得高和來得快,但是這是否意味著投資者需要和舊經濟股全面割席?我個人認為,<u>全面</u>賣出舊經濟股而轉入新經濟股這個行為我不太認同,但股票市場從來都是「百貨應百客」,不同投資者對不同股票各有不同的喜好,只要投資風格適合自己就可以了。緊記一點,投資從來不是用來找刺激、炫耀學識和炫耀自己成功的地方,投資最主要的目的是要賺錢。<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgNSznnYAWdi_fxQlcJip8QBuKzmeIAQMDRByZVnXM987XQIAOVKxaRKcNP9vXfFHRD1qYGLyIYL3Ld4wZbkSKjI-zPpgLwQ_apWp8rvaNXpy9noDQm5x_F7QSRdUxkdMNXlYRd8DBB0IiX/s1600/HFVHvaQrWC4O4LmCVKel3WSmgYkyEXguKiGDuCohg7g.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="280" data-original-width="344" height="520" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgNSznnYAWdi_fxQlcJip8QBuKzmeIAQMDRByZVnXM987XQIAOVKxaRKcNP9vXfFHRD1qYGLyIYL3Ld4wZbkSKjI-zPpgLwQ_apWp8rvaNXpy9noDQm5x_F7QSRdUxkdMNXlYRd8DBB0IiX/s640/HFVHvaQrWC4O4LmCVKel3WSmgYkyEXguKiGDuCohg7g.jpg" width="640" /></a></div>
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<span style="background-color: yellow;">百貨應百客,記住這句話</span></div>
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回應標題所提出的問題,小弟我就拋磚引玉提出兩個角度去讓大家思考一下,是否應該<u>賣出所有舊經濟股而去轉投新經濟股</u>?<br />
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第一,還原基本步,買入該股票的原因依然存在嗎?</div>
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我在買入任何股票前,都會寫一份該公司的分析報告給我自己參考。該分析報告會有不同的財務數據、四份財務報表的分析、對該公司的綜合分析、對該公司的估值和買入買出策略等。為何我要寫一份這樣的報告給我自己?我知道人有時會作出一些不理性的舉動,所以在買出賣入前,我都會再參考那份報告再去決定,防止自己作出一些不理性的決定。所以我對每一隻我自己持有的股票所買入的原因是十分清楚,而我賣出股票只會有兩個原因:第一個是當初買入的原因已經不存在。第二個就是看見有更好的投資機會,什麼叫買入的理由?我用兩隻股票來舉例子。<br />
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第一隻股票是香港中華煤氣(0003)。煤氣公司的主要業務主要是香港業務和中國內地業務。煤氣公司在香港市場壟斷煤氣的業務。煤氣在香港是生活的必需品,擁有一個充闊的護城河,加上政府對煤氣公司是沒有像兩間電力公司一樣有利潤管制協議,所以能將成本完全轉嫁給消費者,所以煤氣公司的香港市場是一門利潤能平均上升,十分吸引投資者的一門生意。至於中國內地市場,煤氣公司在中國內地市場主力是提供天然氣能源,而隨著中國政府的國策是推廣使用更潔淨能源,淘汰舊式能源例如煤等。這些政策都有助煤氣公司在中國內地的發展,可以是煤氣公司的其中一個潛力。所以如果我真的會買入煤氣公司,最主要的原因就是香港的壟斷性業務和中國內地業務的潛力。但是經過19年下半年的社會運動和現在武漢肺炎肆虐全球下,投資者需要思考買入的理由是否存在。我就認為上述的兩個原因當中,中國增長潛力已經大不如前,甚至有機會已經消失。因為我覺得中國之前而世界工廠為主要的經濟增長引擎,但現在絕大部分在中國的工廠已經開始慢慢轉移至鄰近國家,例如印度、柬埔寨、印尼等,但中國經濟結構未能隨著這個現象而去作出改變,不能從made in china變成invested in China。在這種情況下,中國內地的工廠數目和產能只會慢慢減少,用電量自然也會減少,使用天然氣的數量也會隨著減少。所以我認為煤氣公司的股價從高位大幅回落至是一件十分合理的事。因為高速增長的業務已經大不如前,要思考是否買出媒氣公司,我覺得要還原基本步:究竟投資者是希望透過具有壟斷性和能平穩增長的香港業務收取穩定的股息,還是希望透過具有高速增長的中國業務去賺取資本的升幅?投資者必須清楚自己買入該公司股票的原因,如果是屬於後者原因,我覺得你需要認真地思考一下是否仍然繼續持有煤氣公司。如果是屬於前者,我覺得保留在自己組合中或賣出部分都是一個選擇。<br />
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第二隻作為例子的股票是領展房地產信託基金(0823)。領展在今次的股災中也從高位下跌了不少。同樣道理,在分析是否賣出領展前,先思考當初買入領展的原因是什麼呢?領展是一隻優質股的主要原因有三個:第一個原因是領展擁有了大量地理位置極佳的民生商場,租金收入能得到一定程度的保證。第二個原因是領展是以信託基金形式上市,而信託基金需要把所有收入減去營運管理支出後最少九成分派給股東,股息收入比其他上市公司更有保障。第三個原因是領展透過翻新旗下的商場去釋放隱藏的價值,令市場對領展的估值一直上升。如果我會買入領展,這就是我之前所分析買入的原因。現在我們分析一下的原因是否依然存在。第二個原因依舊存在,領展依然是一個信託基金,它的股息分派是受到香港證監會的規定,信託基金是需要把收入扣除營運開支後的最小九成分派給股東,所以領展的派息不會像匯豐銀行一樣被暫停股息的分派,但請緊記一點,可分派的金額是會隨著收入而作出調整,換言之股東的股息有機會被減少。而第一個原因領展所擁有的資產絕大部分都是在公屋旗下的商場,而那些商場的租戶大部分都是一些售賣民生用品的的公司,例如超級市場、快餐店、士多、雜貨店等等。這些公屋商場的消費主要來自附近的公屋租戶,而這些商舖主要售賣的都是必需品,即使現今經濟下滑,這些商舖的收入依然有一定的保證,所以第一個原因在今次經濟衰退中所面對的問題應該不算太大。而最後一個買入原因我就覺得已經消失。因為領展已經將它旗下的資產絕大部分都已經翻新完畢,加上領展已經把一些盈利能力較低的資產賣出,領展資產中的隱藏價值絕大部分已經被釋放出來,未來不能藉此動作去透過翻新自己的資產而去大幅增加租金。所以在未來領展的收入只會是平穩增長,不會像以前一樣會有爆炸性的上升。所以領展股價長期偏貴的原因已經消失,加上今次武漢肺炎疫情,領展向它的租戶提供了租金援助,可分派收入必定會下降,所以在雙重打擊下領展的股價比高位時大跌。對於領展我的看法是,如果投資者買入的原因是希望透過領展釋放自己本身的資產的潛在價值,而令市場重新評估領展的企業價值,而從中獲得自己的資本增長。好明顯領展不是適合這類投資者所買入,但如果投資者純粹是希望透過領展而獲得穩定的股息收入,我相信領展在這刻依然是一個不錯的選擇。</div>
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今次的文章比較長所以我會分開上篇和下篇,<a href="https://have1111.blogspot.com/2020/08/blog-post_24.html" target="_blank">下一篇</a>所講的將會是從第二個角度去思考投資者應否放棄舊經濟股而去投入新經濟股的懷抱。</div>
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晨曦http://www.blogger.com/profile/01331144244005855332noreply@blogger.com8tag:blogger.com,1999:blog-8366134160104830312.post-91156100417740859052020-07-30T02:51:00.001+08:002020-07-30T10:05:58.263+08:00半年股票倉小結<div class="separator"><div style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"> </div></div> 2020年的上半年就已經過去,又是時候檢討一下自己的股票組合和在下半年的買入方向。<div><br /></div><div>先更新一下自己的股票倉:</div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEim4M8rp8X7SjE_tWRH7iKtxbbbO4EHyCKeefho0n2zhk4VCcwFWf2nJCvr6fTCJu28fVmaEICEaPiSvalTKRo4K5k9GcxxzBLV9xQyUBfGCkyTCd_CETmEZVDzyE9lpJ9T8kIQ-iC_3H6X/s792/%25E8%25A8%25BB%25E8%25A7%25A3+2020-07-29+221447.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="462" data-original-width="792" height="366" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEim4M8rp8X7SjE_tWRH7iKtxbbbO4EHyCKeefho0n2zhk4VCcwFWf2nJCvr6fTCJu28fVmaEICEaPiSvalTKRo4K5k9GcxxzBLV9xQyUBfGCkyTCd_CETmEZVDzyE9lpJ9T8kIQ-iC_3H6X/w625-h366/%25E8%25A8%25BB%25E8%25A7%25A3+2020-07-29+221447.jpg" width="625" /></a></div><span><a name="more"></a></span><span><a name='more'></a></span><div class="separator" style="clear: both; text-align: center;"><br /></div><div><span id="docs-internal-guid-74d0022a-7fff-320b-f6ff-1df0c73989d4"><br /><div align="left" dir="ltr" style="margin-left: 0pt;"><table style="border-collapse: collapse; border: none; table-layout: fixed; width: 451.276pt;"><colgroup><col></col><col></col><col></col><col></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">股票名稱</span></p></td><td style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">平均買入成本</span></p></td><td style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">股價@29/7/2020</span></p></td><td style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">賺蝕%</span></p></td></tr><tr style="height: 0pt;"><td style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">港鐵公司</span></p></td><td style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">$43.416</span></p></td><td style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">$37.95</span></p></td><td style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-9.2%</span></p></td></tr><tr style="height: 0pt;"><td style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">必瘦站</span></p></td><td style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">$1.85</span></p></td><td style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">$3.01</span></p></td><td style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">62.7%</span></p></td></tr><tr style="height: 0pt;"><td style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Disney Walt Co</span></p></td><td style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">$US121.67</span></p></td><td style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">$US115.39</span></p></td><td style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-5.15%</span></p></td></tr><tr style="height: 0pt;"><td style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">Mastercard Inc</span></p></td><td style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">$US309.6</span></p></td><td style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">$US311.29</span></p></td><td style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.52%</span></p></td></tr></tbody></table><br /></div><div align="left" dir="ltr" style="margin-left: 0pt;">已買出的股票</div><div align="left" dir="ltr" style="margin-left: 0pt;"><span id="docs-internal-guid-d191691a-7fff-b485-7a6f-179c79581b44"><br /><div align="left" dir="ltr" style="margin-left: 0.75pt;"><table style="border-collapse: collapse; border: none;"><colgroup><col width="148"></col><col width="149"></col><col width="149"></col><col width="149"></col></colgroup><tbody><tr style="height: 0pt;"><td style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">股票名稱</span></p></td><td style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">平均買入成本</span></p></td><td style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">買出時</span><span style="font-family: arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">股價</span></p></td><td style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">賺蝕%</span></p></td></tr><tr style="height: 0pt;"><td style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">F三星原油期</span></p></td><td style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">$4.39</span></p></td><td style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">$1.85</span></p></td><td style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">-57.89%</span></p></td></tr><tr style="height: 0pt;"><td style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">盈富基金</span></p></td><td style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">$27.675</span></p></td><td style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">$26.74</span></p></td><td style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">0.83%</span></p></td></tr><tr style="height: 0pt;"><td style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">比亞迪股份</span></p></td><td style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">$42.17</span></p></td><td style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">$73.45</span></p></td><td style="border-color: rgb(0, 0, 0); border-style: solid; border-width: 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt; vertical-align: top;"><p dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;"><span style="font-family: arial; font-size: 11pt; font-variant-east-asian: normal; font-variant-numeric: normal; vertical-align: baseline; white-space: pre-wrap;">70.82%</span></p></td></tr></tbody></table></div><div align="left" dir="ltr" style="margin-left: 0.75pt;"><br /></div><div align="left" dir="ltr" style="margin-left: 0.75pt;">總回報:<u>9.52%</u></div><div align="left" dir="ltr" style="margin-left: 0.75pt;">股票現金比例: 49.6%/50.4%</div><div align="left" dir="ltr" style="margin-left: 0.75pt;"><br /></div><div align="left" dir="ltr" style="margin-left: 0.75pt;">一些少少檢討和展望:</div><div align="left" dir="ltr" style="margin-left: 0.75pt;"> 先講述關於已賣出的三隻股票,首先是F三星原油期。買入這ETF明顯是一個錯誤的決定,在<a href="https://have1111.blogspot.com/2020/05/blog-post.html" target="_blank">我之前的文章</a>都說過,買入這隻ETF純粹是一個投機行為,而最後這次投機行為是失敗的 。對於一個股票初學者來說,這是一個十分好的教訓令我更堅持價值和長線投資。而賣出盈富基金是因為我當初初踏入股票市場時,抱著人買我買的心態,上網看不同的文章大部份都推介新手可以從月供盈富基金開始慢慢累積財富和經驗,後來學習到更多不同的知識加上也認識到盈富基金也有<a href="https://have1111.blogspot.com/search/label/%E5%80%8B%E8%82%A1%E5%88%86%E6%9E%90%28%E6%B8%AF%E8%82%A1%29" target="_blank">不少的壞點</a>,所以就借今次機會賣出所有盈富基金,準備轉換到其他股票。而比亞迪控股賣出的原因純粹是因為估值過高,但這間是一間好公司,是我少數會投資的中國公司,如果價錢適合有機會我都會再重新買入。</div><div align="left" dir="ltr" style="margin-left: 0.75pt;"><br /></div><div align="left" dir="ltr" style="margin-left: 0.75pt;"> 港鐵公司就先暫時保留。因為買入港鐵的理由依然存在:壟斷全香港的鐵路和擁有沿線鐵路物業發展權。但他始終是一隻舊經濟股,比較注重收息。如果我能找到一個更好的投資機會,我不排除會賣掉港鐵的股票而買入其他公司。</div><div align="left" dir="ltr" style="margin-left: 0.75pt;"><br /></div><div align="left" dir="ltr" style="margin-left: 0.75pt;"> 在未來小弟我會開始慢慢加大投資美股,畢竟科技股在未來的時候都會主宰世界。人類在未來只會越來越依賴科技,所以投資在科技公司中所得的回報絕對會比投資舊經濟果所得的回報更大。另外,在未來一至兩個月內,我應該會再買入多一間公司的股票。因為現金佔所有資產的比例在賣出盈富基金和比亞迪之後變得過大,我心目中的理想比例是股票和現金的比例是7:3左右,所以現時都在研究應該買入哪一間公司的股票。在後半年自己也要繼續努力多吸收不同的資訊知識和研究更加多公司的業務、業績和財務報表。</div><div align="left" dir="ltr" style="margin-left: 0.75pt;"><br /></div><div align="left" dir="ltr" style="margin-left: 0.75pt;"> 中概股也是小弟我未來半年會投資的地方,但比例一定會少於美股。因為因為中國的公司會從投資於世界慢慢退後至中國內部消費。這些公司在中國政府的政策保護下在中國境內基本上是沒有競爭對手可然,所以一些中概股依然是有投資價值的。但是一定要控制好自己的金額,畢竟投資中國市場最大的風險就是政策上的風險,中國政府的政策只為保障共產黨的利益,而不是認真地去保護中國市場中包括小股東在內各個參與者,所以必須要小心去看待這一個風險,有機會的話我再寫一篇文章講述一下。</div><div align="left" dir="ltr" style="margin-left: 0.75pt;"><br /></div><div align="left" dir="ltr" style="margin-left: 0.75pt;"> 最後也重申這篇文章不是一個投資建議。在股票的世界中是沒有分對錯的,有些人跌市可以賺錢,升市也可以輸錢。踏入股票市場只需要緊記一個目的,就是要賺錢。</div><div align="left" dir="ltr" style="margin-left: 0.75pt;"><br /></div></span></div><div align="left" dir="ltr" style="margin-left: 0pt;"><br /></div></span></div>晨曦http://www.blogger.com/profile/01331144244005855332noreply@blogger.com0tag:blogger.com,1999:blog-8366134160104830312.post-53789244503705798962020-07-19T11:43:00.001+08:002020-08-04T13:49:57.966+08:00使用信用卡消費才是硬道理<div class="separator" style="clear: both; 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理財有很多不同的方法。投資也是個人理財的其中一部分,經常講股票、投資我覺得有些單調,所以有些文章會分享一些我日常生活中的個人理財。畢竟除了投資,正確的個人理財也是踏進財務自由的重要一步。<br />
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如標題所講,我是一個熱愛使用信用卡的人。基本上生活絕大部分的交易消費我都是用信用卡處理,空閒時間除了看書、看公司年報外,其中一個空閒時間會做的東西就是上網尋找不同的信用卡優惠和新卡優惠等。<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEha42Dj01hnl6OB6LqwulzN1I9nyzzOsi02tl-CxQZgkeeSJtwzzHcVSLzlqpUFNazljlW5MIRPlYlxDi90KfqAe75jwNSQmFmU7dauQI9sMxrSlEtzkgCcHpfX4kPJuPQsQwYARnW-nBS-/s1600/1595064643546248-1.png" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEha42Dj01hnl6OB6LqwulzN1I9nyzzOsi02tl-CxQZgkeeSJtwzzHcVSLzlqpUFNazljlW5MIRPlYlxDi90KfqAe75jwNSQmFmU7dauQI9sMxrSlEtzkgCcHpfX4kPJuPQsQwYARnW-nBS-/s1600/1595064643546248-1.png" width="400" /></a></div>
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<span style="background-color: yellow;">我自己的信用卡,但實際常使用的卡都是兩三張左右</span></div>
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筆者的兼職主要工作是處理不同客戶的付款,例如信用卡、現金、易辦事等等。而筆者發現香港人普遍使用現金的比例比我想像中還要高,我見過不少客人結帳時的金額是五位數字但仍然堅持使用現金付款。一方面我十分佩服他們在身上攜帶這麼多現金而不害怕攜帶大量現金的保安問題,另一方面大額交易使用現金而不是用信用卡我覺得是一種浪費。<br />
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筆者身邊的不少人都十分抗拒使用信用卡,我曾詢問過他們為何抗拒使用信用卡的原因。絕大部分人都是覺得使用信用卡太容易「洗大咗」。因為在他們的角度中,使用信用卡是十分方便而且不需要即時使用自己的現金,這就會把現金消費變成借貸消費,一不留神到信用卡截數日查賬單時,就會發現自己「洗大咗」。為了應對這個「洗大咗」的後果,他們的解決方法就是「斬腳趾避沙蟲」不去使用信用卡。<br />
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的確,現在社會風氣鼓吹消費,大量的信用卡廣告鋪天蓋地出現在不同地方。加上現在香港學校教育對於理財知識的教育是十分少,這令年輕人沒有途徑去接觸和學習這些知識。這樣讓他們就很容易誤信這些信用卡廣告上的宣傳,例如認為信用卡可以只還min pay等謬誤而導致大量年輕人在大學時期已經需要負上幾萬甚至高達十幾萬的信用卡卡數。所以大部分和我同年齡的年輕人和家長對信用卡有一個負面的印象我是明白的。<br />
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但無可否認的是,正確使用信用卡是可以減輕我們的支出。例如現在市面上有很多不同的現金回贈信用卡,部分現金回贈信用卡的現金回贈可以到達簽賬額的1.5%。如果能好好善用它們長年來的回贈金額將會是一個可觀的數字。</div>
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上述解釋說明了信用卡的壞點在於它的消費模式中。如何可以讓我們可以使用它的優點而去避免他的缺點呢?《有錢人想的和你不一樣》中的作者T.Harv Eker說到有錢人其中一個致富法則是有錢人相信魚與熊掌可以兼得,所以筆者我最後想了一個方法去避免自己會「洗大咗」也能同時獲得信用卡的優點。<br />
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解決方法就是我會用一塊記事板去紀錄自己每天使用信用卡結帳的金額,然後每週五結算一次,再把在生活費用帳戶中的的金額直接轉去信用卡戶口清還卡數。這樣做能避免自己使用信用卡會「洗大咗」,久而久之就會養成一個信念就是使用信用卡和使用現金消費基本上是一樣的,不會讓信用卡消費從借貸消費變成儲蓄消費。一方面我可以享受信用卡給我帶來的折扣和回贈,另一方面也不會過度消費從而「洗大咗」,需要背負龐大的利息和卡數,加上信用卡月結單會記錄所有當月的消費,每月的消費情況可以一目了然。為了強迫自己一定要檢查信用卡月結單,我所有的信用卡都不會設立自動轉帳,從而令自己一定要去檢查當月的月結單,目的是檢查自己是否開支比預期大增或有一些無謂的支出等。<br />
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當然這個方法並不適合用於所有人。如果有些人自理能力較低,他們會有較大機會沒有遵守自己的規定,依然沒節約地使用信用卡。這樣的話就一定必須停止使用信用卡,需要重用現金消費。<br />
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題外話,巴菲特曾提過他是不建議人們使用信用卡的。我就覺得,巴菲特就是巴菲特,晨曦就是晨曦,你就是你。世界上沒有一個可以通用於所有人身上的方法。正如投資一樣,我覺得投資是一門藝術,投資有不同派系、不同方法但最後適用於你身上的風格我敢肯定在這世上一定是獨一無二的。投資如此,理財也一樣。不要盲目地沒有經過思考就聽從別人的說話,無論是巴菲特還是晨曦,每一個人所講的說話都需要經過自己的消化後才能應用。說回正題,巴菲特只是提過不要用信用卡借貸消費。因為信用卡利息其實是十分高的,根本世上沒有投資所得的回報能覆蓋過信用卡的利率。他也提過準時還款比投資還要賺錢,事實上兩點我都認同。準時還款在使用信用卡的原則上是十分重要的,借貸消費所以要支付的利息同樣也是十分高,所以如果你能放大它的優點而縮小它的缺點,信用卡其實在理財上是一件十分好的工具。所以其實巴菲特只是勸大家不要使用信用卡借貸消費而不是不要使用信用卡。在投資路上很重要的一點是,不要盲目相信權威。每個人所講的說話和理論都需要經過自己的消化才去決定這個人所講的東西是否對自己有用。理財如此、投資如此、生活也一樣。</div>
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在之前文章已經說過,工具本身是沒有分好與壞,只有使用它的人使用正確與否。所以信用卡是個雙刃劍,一不留神會容易傷害到自己,但如果你能正確使用,它的回贈和折扣的確可以減輕自己的生活支出。諗深一層,當您使用信用卡時,商戶是需要付手續費給信用卡公司,並信用卡公司或銀行就會給你不同的回贈、折扣或禮品,其實你是間接地得到商戶的折扣,可樂而不為?</div>
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晨曦http://www.blogger.com/profile/01331144244005855332noreply@blogger.com12tag:blogger.com,1999:blog-8366134160104830312.post-60901174436077431682020-06-30T02:56:00.000+08:002020-08-13T17:15:09.528+08:00美股出現少年股神 美股在今年3月時,因為受到武漢肺炎在美國急速擴散的原因,曾經大跌至三次觸發熔斷機制, 道瓊斯工業平均指數曾下跌至二萬點以下,但後來聯邦儲備局推出多項措施,例如買入大量公司債券和推行無限QE政策等,令市場氣氛急速回升和令美國三大指數迅速反彈。其中納斯達克指數更創新高。 在三至四月時有大量散戶進場剛剛 「食正」了美股急速反彈的時段,造就了大量少年股神的出現,他們能在短時間來賺取大量利潤的部分原因是他們買入了熱炒的垃圾股票。 這些垃圾股票,如果是一個奉行價值投資的投資者,他們絕不會買入這些垃圾股票。買入垃圾股票的行為足以證明大部分的少年股神都是一個投機者而不是一個投資者。<br />
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第二個造就了大量少年股神的原因是出現了大量免佣金的交易軟件。大量交易軟件例如Robinhood的出現,導致交易成本大大降低,加上美股一直以來都是而一股為交易單位,大部分美股在短時間內急速下跌,所以部分股票的價格對比高位時的價格下降了不少,有機會會令股民看起來覺得價錢已經十分便宜,吸引了大量沒有做好充足準備的青少年加入股民的行列。歷史告訴我們,沒有做足充足的資料搜集就貿然地進入股票市場投資是一個非常危險的行為。但很幸運地,大部分少年股神暫時還未被市場先生狠狠地教訓一番。例如<a href="https://www.cnbc.com/2020/06/09/robinhood-traders-cash-in-on-the-market-comeback-that-billionaire-investors-missed.html" target="_blank">有一位26歲的 少年股神</a>,他在24小時裏賺了1500美金,靠的是就是炒賣巴菲特蝕了不少錢的美國三大航空股。更有部分年輕股民用上了不同的槓桿工具,例如期貨合約和窩輪等。<a href="https://news.cnyes.com/news/id/4495364?fbclid=IwAR37yTyqvJTv41c9In3lxszedtsxdyTOUJ-QSUgvo9xsMI7eRxHjnnElkes" target="_blank">有一個20歲的年輕人就在上兩週前自殺身亡</a>。自殺原因就是因為它使用了交易選擇權虧損了大約730,000美金,他在遺書中更向家人坦誠,他在進行交易時根本不知道自己正在做什麼事情。小弟我一直以來都是強調,槓桿只是一個工具,工具本身是沒有分好與壞,只是運用它的人能是否正確運用。上述例子顯示了,有一部分的股民是完全沒有去理解股票市場的資訊就貿然地作出投資決定。這是一件十分危險的事情,而這個少年股神的現象在美股市場開始愈來愈普遍。這絕對是一個警號,表示美股開始存在一定的泡沫。<br />
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<u>部份最多Robinhood用戶買入的美股和在五月的回報。Source:<a href="https://www.cnbc.com/2020/06/09/robinhood-traders-cash-in-on-the-market-comeback-that-billionaire-investors-missed.html" target="_blank">CNBC</a></u></div>
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何謂垃圾股票?的確,有部分少年股神是透過近期熱炒的科網股賺取豐富的利潤。大部分的科網股票都不是我所指的垃圾股票。部分的科網公司其實已經有盈餘亦都在這個世界中佔一大席位,例如FAANG中的公司。<span style="background-color: yellow;">但我必須強調,有部分的科網股公司的股票依然暫時是沒有盈餘,這些公司只是透過概念在股票市場中集資繼續去發展,市場只是透過去估算他們的概念能否在商業世界中生存和何時開始錄得盈利這兩個因素去進行估值,這些公司的估值出錯空間會比起已經有盈餘的公司更大。而這些公司小弟我暫時還沒有能力去對它們進行估值,鑑於我暫時還未懂得對這些沒有盈利的公司進行估值,所以有部分科網股公司的股價現在究竟是便宜或昂貴恕我暫時還未能得出結論,我不會去評論</span><span style="background-color: yellow;">科網股公司現在</span><span style="background-color: yellow;">究竟是便宜或昂貴。這也不是本文重點。</span>但小弟我覺得,大部分的科網股的股價雖然都有一些泡沫存在,但都是值得我們再去深入研究和值得我們去投資的。而我所指的垃圾股票就是因為武漢肺炎的疫情或其他原因公司<u>基本面急劇轉變、</u>已經宣佈需要破產保護的公司等。投機者買入純粹是為了「博反彈」。如果作為一個價值型投資者,在考慮過這些垃圾股票的基本面後,絕大部分人應該都不會買入這些公司的股票,以下我舉幾個例子來說明。<br />
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1.航空股</div>
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美國三大航空公司,美國航空、達美航空和聯合航空都因應武漢肺炎疫情停飛了絕大部分的航班,但隨著美國政府開始重啟經濟,市場憧憬航空公司開始能重新獲得客源。但是,現在美國疫情反彈不在話下,現在情況是武漢肺炎疫情未如想像中那麼快能舒緩,加上為了避免在飛行途中傳播病毒,在未來數年我肯定航空公司一定會加入很多不同的措施來避免這個情況出現在他們公司的飛機上。其中一個會實行的措施就是在機艙中保持適當的社交距離,意味著飛機不會被坐滿,航空公司的收入一定會大減。雖然航空公司是可以透過加價來增加自己的收入但可以肯定的是,航空公司的盈利需要一段比較長的時間才能回複到疫情爆發前的水平。但反觀三大航空公司的股價在四到五月中都有反彈一倍以上,股價和公司基本面的關係真的合理嗎?<br />
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2.Hertz<br />
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這間是全世界其中一間最大的租車公司。這間公司在5月22號申請破產保護,股價曾經最低跌至0.4美元。但在六月中,股價從低點反彈急升最高到6.25美元。如果你選擇在最低位時買入,你將會擁有15倍的利潤。但在這段日期期間什麼事都沒有發生過,這間公司依然持有190億美元的債務和150億美元的資產。價值型投資者絕對不會買入這些股票。但這間公司每天依然有幾億股的交易量。我絕對不認為買入這間公司的股票是投資,這些絕對是一種投機行為。從上方圖表可見,這間公司是Robinhood用戶其中一間買入最多股票的公司,足以證明這些垃圾股票的泡沫是多麼巨大。最後這間公司在6月10號被紐約交易所強制下市,目前股價是1.39美金。<br />
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3.Chesapeake energy<br />
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另外一個莫名其妙的例子。這個是一間美國的頁岩油公司。在四月的時候,全球油價大受打擊。其中紐約期油期貨合約第一次出現負數。當中頁岩油公司就在這次油價下跌中承受很大的衝擊,公司股價一路下跌,股價最低時跌至不足1美元,迫使這間公司需要以1股拆成200股 讓股價提升到雙位數字。但這間公司的股票一度在一天內升近兩倍,股價的上升完全和油價的上升關係不大,依然是沒有投資價值。最後傳出公司準備申請破產保護,還在6月28號正式申請破產,股票變得一文不值。<br />
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其實還有一間公司都是這樣情況,這就是瑞幸咖啡,正宗「垃圾股票」。他在自我揭發自己做假帳後,股價從高位27.6美元下跌至最低1.4美元。但股價從五月尾開始反彈,最高至六月中的5美金,上升了五倍,這段日期期間什麼事都沒有發生過,瑞幸咖啡只是在等待被強制下市。最後它都是被納斯達克強制下市,股價隨即下跌。一間公然造假、完全沒有誠信可言的公司,按照一個正常的投資者也不會買入當作投資。這個行為完全是一個投機行為。<br />
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投機行為我也嘗試過,最後都是失敗。有興趣的網友可以看<a href="https://have1111.blogspot.com/2020/05/blog-post.html" target="_blank">這篇文章</a>。我很慶幸那一次投機行為是失敗。因為那次投機行為所損失的金額是十分少,但讓我可以買到一個教訓。同時讓我肯定了投機行為註定是不會成功。在長期來說,只有價值投資才能經得起不同的考驗。那次投機行為的失敗讓我更明白到價值投資的重要性。巴菲特有一句名言:水退時才能知道誰人沒有穿泳褲,但現在那些年輕股民們卻就認為現時聯儲局大量放水,導致水浸。水是永遠不會退的。但價格最後終會回歸價值,那些少年股神一時的成功,能代表他以後都能成功嗎?投資是一場耐力賽,就看看誰能笑到最後。</div>
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在投資路上發現自己學習得越多,就知道自己所認識得的知識是很少。不要因為一時的勝利沖昏頭腦,只有保持謙卑,繼續努力學習和對市場充滿敬畏之心才是一個正確的心態。</div>
晨曦http://www.blogger.com/profile/01331144244005855332noreply@blogger.com4tag:blogger.com,1999:blog-8366134160104830312.post-20058207766367204342020-05-27T22:33:00.000+08:002020-05-27T22:47:07.022+08:00轉載文章:請留下來 有些說話講出口頗不負責任,卻不吐不快,所以我說了。<br />
請留下來。<br />
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國安法一到,「移民」的搜尋次數急升,BNO居英權的討論燃起來,連帶關於移居到台灣的想法也擺上枱面了。我的見解是,除非你被迫害到需要流亡海外,除非你的家眷要被照顧到需要另覓一個國家生活,請留下來。<br />
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97後的一代,沒有領過BNO的滋味,如今是在前線搏鬥的中堅分子,也是至今站得最穩、沒半點猶豫地想辦法解救香港的一群。十多歲或二十餘歲的年紀,深愛這片土地比無數活多於半世紀的老人更甚。<br />
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離開,留他們單打獨鬥,我做不到。<br />
離開不是罪過,如果你的離開是為了日後在自由的空氣下繼續援助淪陷中的香港,離開是有價值的,我也堅信留住性命和傳播思想的重要性;但如果你的離開只是為了逃離一片傷心地,只想重啟自己的無憂生活,那麼請你現在開始停止喊光復香港。<br />
也請不要以為自己可以在新的土地上建立另一個香港。移居去別的國家,融入別人的國家是你的責任,而不是大條道理打著香港人的牌頭去侵佔別人的資源。英美加澳紐台日也好,每個國家都有其歷史與文化,民主制度是幾代人民打拚回來的,移居過去享受成果,是必要懷著感恩的心,更別談建立新香港。<br />
香港人很好,但對別人來說也沒有特別比誰尊貴。<br />
<br />
還有很重要的一點。不守承諾的是他們,侵犯我們的是他們,為權慾張牙舞爪的是他們,恬不知恥屠殺蒼生的是他們,散播謊言壓抑思想的也是他們,為何離開的要是我們?<br />
之所以說這些說話不負責任,是因為我也想不出留下來有甚麼直接方法可以讓浩劫終結,但我仍然深信我們還有足夠韌力去持續對抗。找後路是可以的,但後路找到也別急著走,還請留守到迫不得已的最後一刻。<br />
整個地球,只有這片土地名叫香港。<br />
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<span style="background-color: yellow;">Credit:<a href="https://www.facebook.com/photo/?fbid=2234675956618012&set=pcb.2234676676617940">立場新聞</a></span></div>
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<span style="background-color: yellow;">Credit:<a href="https://hk.epochtimes.com/tag/%E6%91%A9%E8%A5%BF%E5%88%86%E7%B4%85%E6%B5%B7">大紀元時報</a></span></div>
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作者:<a href="https://www.facebook.com/rwbb9up/">紅白藍孩RWBB</a></div>
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文章標題為筆者自行添加</div>
<br />晨曦http://www.blogger.com/profile/01331144244005855332noreply@blogger.com2tag:blogger.com,1999:blog-8366134160104830312.post-63541354890390218642020-05-20T02:27:00.000+08:002020-05-20T21:53:35.379+08:00一通碎股板名單<br />
前文《<a href="https://have1111.blogspot.com/2020/03/blog-post_26.html">股票射倉</a>》提到,一通的的版面非常不User-friendly,例如可供在碎股版中買賣的股票是沒有一張完整清單給客戶參考,它只是提供了一大堆股票號碼給客戶選擇進入,十分混亂,每一次我想知道該公司的股票是否能在碎股版中買賣時,我先需要搜索該公司的股票號碼,然後才能在一大堆股票號碼中尋找是否能在碎股版中買賣。網上無論是一通的官方網頁和其他網頁都不能找到一張完整碎股版清單,冇關係!沒有人做,晨曦兄做,我就花了一些時間整理出一張完整碎股版清單給我自己參考,有需要的朋友也歡迎作參考用。如有任何錯誤或更新,歡迎你在留言區留言指教(資料更新至20-5-2020)。(20/5:補充一下,碎股版中所列出的股票,同時可以在一通進行月供計劃。)<br />
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<span style="background-color: yellow;">一通碎股版版面。。。非常不User-friendly</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">中國旺旺控股有限公司</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">中華電力</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0165</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">中國光大控股</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0003</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">香港中華煤氣</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0168</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">青島啤酒股份</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0004</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">九龍倉集團</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0175</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">吉利汽車</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0005</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">匯豐控股</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0242</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">信德集團</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0006</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">電能實業</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0267</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">中信股份</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0011</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">恒生銀行</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0270</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">粵海投資</span></div>
</td></tr>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0012</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">恒基兆業地產</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0288</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">萬洲國際</span></div>
</td></tr>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0016</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">新鴻基地產</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0291</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">華潤啤酒</span></div>
</td></tr>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0017</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">新世界發展</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0293</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">國泰航空</span></div>
</td></tr>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0019</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">太古股份公司A</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0322</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">康師傅</span></div>
</td></tr>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0020</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">會德豐</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0330</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">思捷環球</span></div>
</td></tr>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0023</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">東亞銀行</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0358</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">江西銅業股份</span></div>
</td></tr>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0027</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">銀河娛樂</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0363</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">上海實業控股</span></div>
</td></tr>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0066</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">港鐵公司</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0384</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">中國燃氣</span></div>
</td></tr>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0069</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">香格里拉酒店</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0388</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">香港交易所</span></div>
</td></tr>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0083</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">信和置業</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0386</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">中國石油化工股份</span></div>
</td></tr>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0101</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">恒隆地產</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0390</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">中國中鐵</span></div>
</td></tr>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0135</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">昆侖能源</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0392</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">北京控股</span></div>
</td></tr>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0144</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">招商局港口</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0489</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">東風汽車集團股份有限公司</span></div>
</td></tr>
</tbody></table>
</div>
<div align="left" dir="ltr" style="margin-left: 0pt;">
<table style="border-collapse: collapse; border: none;"><colgroup><col width="52"></col><col width="136"></col><col width="54"></col><col width="191"></col></colgroup><tbody>
<tr style="height: 21pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0494</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">利豐</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0981</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">中芯國際</span></div>
</td></tr>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0522</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">ASM太平洋</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0992</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">聯想集團</span></div>
</td></tr>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0551</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">裕元工業(集團)有限公司</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">1038</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">長江基建集團</span></div>
</td></tr>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0656</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">復星國際</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">1044</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">恒安國際</span></div>
</td></tr>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0683</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">嘉里建設</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">1055</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">中國南方航空股份</span></div>
</td></tr>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0688</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">中國海外發展</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">1066</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">威高股份</span></div>
</td></tr>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0700</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">騰訊控股</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">1088</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">中國神華</span></div>
</td></tr>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0728</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">中國電信</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">1093</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">石藥集團</span></div>
</td></tr>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0753</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">中國國航</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">1099</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">國藥控股</span></div>
</td></tr>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0762</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">中國聯通</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">1109</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">華潤置地</span></div>
</td></tr>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0788</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">中國鐵塔</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">1113</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">長實集團</span></div>
</td></tr>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0823</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">領展房地產投資信託基金</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">1114</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">華晨汽車集團</span></div>
</td></tr>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0836</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">華潤電力</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">1171</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">兗州煤業股份</span></div>
</td></tr>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0857</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">中國石油天然氣股份有限公司</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">1177</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">中國生物製藥</span></div>
</td></tr>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0883</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">中國海洋石油</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">1186</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">中國鐵建</span></div>
</td></tr>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0902</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">華能國際電力股份</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">1199</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">中遠海運港口</span></div>
</td></tr>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0914</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">安徽海螺水泥股份有限公司</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">1211</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">比亞迪股份</span></div>
</td></tr>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0916</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">龍源電力</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">1288</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">中國農業銀行股份有限公司</span></div>
</td></tr>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0939</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">中國建設銀行股份有限公司</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">1299</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">友邦保險</span></div>
</td></tr>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">0941</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">中國移動</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">1313</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">華潤水泥</span></div>
</td></tr>
</tbody></table>
</div>
<div align="left" dir="ltr" style="margin-left: 0pt;">
<table style="border-collapse: collapse; border: none;"><colgroup><col width="52"></col><col width="137"></col><col width="53"></col><col width="190"></col></colgroup><tbody>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">1336</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">新華人壽保險</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">2319</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">蒙牛集團</span></div>
</td></tr>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">1339</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">中國人民保險集團</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">2328</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">中國人民財產保險</span></div>
</td></tr>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">1359</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">中國信達資產管理</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">2333</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">長城汽車</span></div>
</td></tr>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">1398</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">中國工商銀行股份有限公司</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">2338</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">濰柴動力</span></div>
</td></tr>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">1658</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">中國郵政儲蓄銀行股份有限公司</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">2388</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">中銀香港</span></div>
</td></tr>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">1766</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">中國中車</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">2601</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">中國太保</span></div>
</td></tr>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">1800</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">中國交通建設</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">2628</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">中國人壽保險</span></div>
</td></tr>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">1810</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">小米集團-W</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">2638</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">港燈-SS</span></div>
</td></tr>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">1816</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">中國廣核電力</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">2689</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">玖龍紙業</span></div>
</td></tr>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">1918</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">融創中國</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">2777</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">富力地產</span></div>
</td></tr>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">1919</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">中遠海控</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">2800</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">盈富基金</span></div>
</td></tr>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">1928</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">金沙中國</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">2822</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">南方A50</span></div>
</td></tr>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">1988</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">中國民生銀行股份有限公司</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">2823</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">安碩A50中國基金</span></div>
</td></tr>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">1997</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">九龍倉置業</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">2827</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">標智滬深300基金</span></div>
</td></tr>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">2007</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">碧桂園</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">2828</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">恒生H股指數ETF</span></div>
</td></tr>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">2018</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">瑞聲科技</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">2888</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">渣打集團</span></div>
</td></tr>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">2020</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">安踏體育</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">2899</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">紫金礦業</span></div>
</td></tr>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">2038</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">富智康集團</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">3188</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">華夏滬深300指數ETF</span></div>
</td></tr>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">2282</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">美高梅中國</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">3328</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">交通銀行</span></div>
</td></tr>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">2313</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">申洲國際</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">3383</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">雅居樂集團</span></div>
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<div align="left" dir="ltr" style="margin-left: 0pt;">
<table style="border-collapse: collapse; border: none;"><colgroup><col width="53"></col><col width="136"></col><col width="53"></col><col width="189"></col></colgroup><tbody>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">3690</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">美團點評-W</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">6030</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">中信証券</span></div>
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<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">3888</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">金山軟件</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">6886</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">華泰證券</span></div>
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<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">3968</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">招商銀行</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">9988</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">阿里巴巴集團</span></div>
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<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">3988</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">中國銀行</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><br /></td></tr>
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晨曦http://www.blogger.com/profile/01331144244005855332noreply@blogger.com6tag:blogger.com,1999:blog-8366134160104830312.post-89992386482992767962020-05-05T23:54:00.000+08:002020-05-20T02:32:23.675+08:00第一次止蝕 組合在四月二十二日賣出了所有的F三星原油期(3175),價格為$1.85,虧損了$2034.34,百份比為57.89%。<br />
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買入前一兩日,油價大跌,跌至歷史新低,我當時就認為油價沒有可能長期處於比成本還要低的情況下,所以就打算買入一些和油價相關的股票,當時的選擇有油公司和原油期貨的ETF,經過一些資料搜集後,我就發現了原油期貨的ETF較緊貼原油價格的走勢,所以就打算小注買入F三星原油期打算等候油價回升,初初都能順著油價反彈而在帳面上有大約27%的利潤,但油價最後在四月二十一日跌至負數,加上3175改變轉倉規則,從本身把合約轉至下一個月的合約變成轉至九月的期油合約,所以最後就在四月二十二日賣出了所有的F三星原油期。<br />
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所犯的錯誤:<br />
1.資料搜集不足。<br />
在買入三星原油期前, 絕大部分的原油期貨ETF風險我已經知道,包括有市場風險、被動式投資風險等,但我最後忽略了兩個風險。我初初以為這兩個風險,影響3175的價格不大,但最後都是因為這兩個風險而導致有巨大損失。第一個所忽略的風險是期油合約價格極度波動。當時我和其他人都不認為期油合約價格可以下跌到負的地步,但最後期油價格到了一個令人不可置信的地步。雖然我相信這次負油價的事件是一件黑天鵝事件,沒有人可以預料到油價可以去到負數,但我覺得我自己忽略了這個風險都是是我自己的問題。加上我在後來才發現,這類期貨型的ETF會有期貨合約轉倉風險。由於期貨ETF需要把期貨合約轉倉,因此會有虧損的風險,所以這類ETF其實是不適合長期持有,但我當時並不完全清楚了解這個風險並打算長期持有3175。<br />
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2.加注</div>
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在第一次買入3175後,因為油價反彈所以帳面上是有差不多27%的利潤。但當時因為是打算長期持有它,所以沒有把它賣走。反而在數天後油價再度回落時,再加注少量3175。坦白說 當時沒有人會預訂到油價會變成負數,加上我當時未意識到3175是有一些隱藏的風險但我沒有注意到,所以加注這個動作在當時未必是一個錯誤的動作,但它肯定不是一個正確的動作。<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg5MltjlYJDYN_zXK5hJ6mm8HPhnS7TqBhi8z8zfX0B_MP33yMvKusQDciXk4T-WIAnib5JXOrmYec8y4RIoMqS4H1hCroJuIaXWmDAgqf0iDk_GVYc5AuDsRH27C-j2v9BTLQ4qQ6utL00/s1600/%25E8%25A8%25BB%25E8%25A7%25A3+2020-05-05+234514.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="869" data-original-width="972" height="568" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg5MltjlYJDYN_zXK5hJ6mm8HPhnS7TqBhi8z8zfX0B_MP33yMvKusQDciXk4T-WIAnib5JXOrmYec8y4RIoMqS4H1hCroJuIaXWmDAgqf0iDk_GVYc5AuDsRH27C-j2v9BTLQ4qQ6utL00/s640/%25E8%25A8%25BB%25E8%25A7%25A3+2020-05-05+234514.jpg" width="640" /></a></div>
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<span style="background-color: #f4cccc;">原油期貨ETF的風險(來源:<a href="http://ifec.org.hk/web/tc/investment/investment-products/etf/other-types-of-etf/crude-oil-etf.page">錢家有道</a>)</span></div>
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有兩點要稱讚自己在今次事件做得較好的,它們就是有合時做出止蝕動作和只有小注買入。在做出賣出動作前的一晚,三星資產管理公司宣佈,3175從原本會轉倉至6月的期油合約,轉為9月後的期油合約。其實這一個才是我覺得需要做止蝕的原因。因為這隻ETF的基本性質已經改變。從原本會轉倉至下月的期貨合約,改為轉成數個月後的期貨合約,這根本不符合我當初買入的原因。小弟我做止蝕的原則就是:當初買入的原因已經消失或該資產的基本因素已經出現非常大的改變。在這兩個情況中,如有其中一個情況已經出現,都需要馬上做止蝕動作。 3175的轉倉策略明顯已經和我買入時不相同,所以需要馬上做止蝕。同時也慶幸自己只有少量買入3175,它佔我的總倉位不足5%。因為我知道自己不熟悉原油產業,但自己當時認為原油價格不可能長期在低位徘徊。所以我當時只有小注買入以控制風險。事後反思這是一個正確的決定。如果3175佔我的總倉位太大,最後因止蝕而得到的永久虧損一定不止於現在的金額,所以風險管理也是一個很重要的一環。但當然,這只是一個不幸中的大幸,沒有做足充分的資料搜集是今次招致虧損的主要原因。<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhsZbArsLNGB1NVWw5TMYgdRUD0jQnt-T9zOKBoocv6Xz7XsCOlvZoIpSrGGk2wuMFxjLCGRYMNpChV2xSYTsbMOP_nPXK-l0D9qT_y31W7il3ayEyuMiaEQuDjaDC1WXVNDbRN9QygXj4D/s1600/images.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="245" data-original-width="206" height="400" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhsZbArsLNGB1NVWw5TMYgdRUD0jQnt-T9zOKBoocv6Xz7XsCOlvZoIpSrGGk2wuMFxjLCGRYMNpChV2xSYTsbMOP_nPXK-l0D9qT_y31W7il3ayEyuMiaEQuDjaDC1WXVNDbRN9QygXj4D/s400/images.jpg" width="335" /></a></div>
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<span style="background-color: #f4cccc;">3175這個伏今次我真係中到應一應</span></div>
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今次止蝕的損失雖然不算太大,近期股市的回升已經能覆蓋我大部分的虧損。但我依然覺得我需要記錄一下今次的失誤,讓自己清楚記得今次自己的錯誤,來警惕自己下一次不要再犯同樣的錯誤。在未來,必須提醒自己在買入任何資產前,都需要充足了解所有風險、只會買入自己能力圈內的資產和繼續努力擴展自己的能力圈,這樣才可以買入更多不同類型及關於不同產業的資產以減低日後虧損的可能性。</div>
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晨曦http://www.blogger.com/profile/01331144244005855332noreply@blogger.com12tag:blogger.com,1999:blog-8366134160104830312.post-53499650812660247122020-04-16T01:29:00.001+08:002020-05-20T02:32:48.278+08:002020股災中場檢討 三四月真是十分忙。不是因股市下跌而忙於買貨,而是自己的學業、工作和日常生活太多事情需要處理和完成。學業方面,四月是今個學期的最後上課天,雖然不用上課,但應做的功課和分組作業還需要完成,我甚至覺得比平時上課更忙碌。在工作方面,雖然小弟在零售業工作,但我工作的公司生意出乎意料地還算不太差,我依然可以繼續上班,公司都按比例上調工資和派發花紅,對我來說這都算是近期的一個好消息。加上自己在三月時去了上課學習更多關於股票上的知識,所以沒有太多時間去留意股市。<br />
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但沒有時間去留意股市是不是意味我沒有在股市下跌中買入股票?又不是的,但買入的股票不多,是有幾個原因的。第一個原因是現金不足。這個是一個先天性的因素,小弟我在<a href="https://have1111.blogspot.com/2019/03/blog-post.html">自我介紹</a>中說過,自己是一個學生,收入始終不多,之前每一個月的收入扣除了自己的日常開支後,就會把大部分的現金投入到月供股票中,所以一直現金都不太多,但這個不算一個大問題,當我畢業後,可儲蓄的金額自然就可以增加。<br />
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第二個原因平時是沒有對自己心義的公司做估值。當股市下跌時,如果平時沒有去了解市場上的公司和對他們做估值,你只會看見公司的股價不停下跌,而不知道下跌的範圍是否已經超出了合理價格,所以會導致一個情況就是你會不停等候更低的價格,希望在更低的價格買入,而最後在不停的等待時,價格就會慢慢回升。而很不幸地,有部份的股票就是這一種情況而沒有買入,經過三月的上課學習後,我學會了更多的估值方法,末來可以派上用場。也很不幸地,都有不少的<a href="https://have1111.blogspot.com/2020/03/blog-post.html#more">股票</a>的股價在跌市中依然十分「硬淨」,暫時還沒有出現一個好價位可以給我買入,那些股票暫時只好再等待一下。<br />
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第一和二個原因也同時延伸出第三個問題,第三個問題就是嘗試預測最低部。預測最低點是一項不可能的工作,這個道理我當然知道,但實行就是另一回事。心理質素未如理想當然是一個問題,但當時現金非常不足,大大限制了我的買入計劃,所以當時只好把買入的間隔拉闊,令我只可以等待到下一個買入區域,但恆生指數到了21696點就開始反彈,未能執行下一階段的買入行動。<br />
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雖然今次的股災買入的股票不多,但在這次股災中都見識了不少blogger的操作,令我大開眼界和獲益良多。我曾聽過一句說話,意思大約是學習買賣股票,你需要經歷過大跌市和大牛市,你才算在股票學習上「畢業」,大跌市已經經歷過了,下一次的大跌市或大牛市何時會到來?Who knows?<br />
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最後記錄下近期的買入動作和組合分佈。<br />
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<span style="font-family: "arial"; font-size: 11pt; vertical-align: baseline; white-space: pre-wrap;">日期</span></div>
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<span style="font-family: "arial"; font-size: 11pt; vertical-align: baseline; white-space: pre-wrap;">股票名稱</span></div>
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<span style="font-family: "arial"; font-size: 11pt; vertical-align: baseline; white-space: pre-wrap;">價格/數量</span></div>
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<span style="font-family: "arial"; font-size: 11pt; vertical-align: baseline; white-space: pre-wrap;">12-3-2020</span></div>
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<span style="font-family: "arial"; font-size: 11pt; vertical-align: baseline; white-space: pre-wrap;">港鐵公司</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="font-family: "arial"; font-size: 11pt; vertical-align: baseline; white-space: pre-wrap;">$41.45/99</span></div>
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<span style="font-family: "arial"; font-size: 11pt; vertical-align: baseline; white-space: pre-wrap;">12-3-2020</span></div>
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<span style="font-family: "arial"; font-size: 11pt; vertical-align: baseline; white-space: pre-wrap;">盈富基金</span></div>
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<span style="font-family: "arial"; font-size: 11pt; vertical-align: baseline; white-space: pre-wrap;">$25/140</span></div>
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<span style="font-family: "arial"; font-size: 11pt; vertical-align: baseline; white-space: pre-wrap;">18-3-2020</span></div>
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<span style="font-family: "arial"; font-size: 11pt; vertical-align: baseline; white-space: pre-wrap;">必瘦站</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="font-family: "arial"; font-size: 11pt; vertical-align: baseline; white-space: pre-wrap;">$1.85/4000</span></div>
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<span style="font-family: "arial"; font-size: 11pt; vertical-align: baseline; white-space: pre-wrap;">1-4-2020</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="font-family: "arial"; font-size: 11pt; vertical-align: baseline; white-space: pre-wrap;">F三星原油期</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="font-family: "arial"; font-size: 11pt; vertical-align: baseline; white-space: pre-wrap;">$4.29/400</span></div>
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<span style="font-family: "arial"; font-size: 11pt; vertical-align: baseline; white-space: pre-wrap;">15-4-2020</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="font-family: "arial"; font-size: 11pt; vertical-align: baseline; white-space: pre-wrap;">F三星原油期</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="font-family: "arial"; font-size: 11pt; vertical-align: baseline; white-space: pre-wrap;">$4.49/400</span></div>
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</tbody></table>
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晨曦http://www.blogger.com/profile/01331144244005855332noreply@blogger.com6tag:blogger.com,1999:blog-8366134160104830312.post-51699503421892117242020-04-02T05:02:00.001+08:002020-04-02T05:02:33.683+08:00念哥哥<div class="separator" style="clear: both; text-align: center;">
<a href="https://images.chinatimes.com/newsphoto/2018-04-01/900/20180401000843.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="524" data-original-width="800" height="209" src="https://images.chinatimes.com/newsphoto/2018-04-01/900/20180401000843.jpg" width="320" /></a></div>
<br />
十七年了,今年特別想念哥哥你。<br />
當時我還小,90後的我無緣見證你最輝煌的時刻,小弟我都是在後來先認識和欣賞到你的作品和歌曲。<br />
今年的疫情,很多在2003年塵封的記憶開始慢慢清晰了起來。<br />
2003年,你離開的時候,每一個香港人都戴著口罩談論你、記念你。那一年,香港一直遇上麻煩事,壞消息一個一個地傳出來。<br />
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十七年後的今日,香港已經不再是當年的香港,今年香港除了要像當年一樣抗疫外,香港人還要對抗社會上的不公義。但相同的事是,大部分香港人依然記得你的一生,依然戴著口罩談論你、記念你。<br />
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當年最大的愚人節笑話就是你離開了我們的新聞,傷了不少香港人的心。十七年後的今日,今年愚人節笑話就是獅子銀行已除淨但不派息,令不少打算收股息的股民大失預算,不誠實的舉動,傷了不少香港人的心。<br />
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今年的氣氛和社會狀況都仿彿回到2003年,每一個人的無力感都好強,每日外出都需要戴上口罩,每天的新聞就只是報導疫情、感染和死亡人數,每天都擔心自己飯碗有機會不保和染病,壞消息不停地傳出,彷彿沒有未來一樣,所以今年特別想念你。<br />
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我們懷念你,除了是懷念一個風華絕代,能代表香港的人之外,更是懷念一個已經逝去和難以忘懷的美好年代,一切都已經不能回頭。<br />
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夜闌靜,問有誰共鳴?<br />
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2-4-2020 05:01 香港晨曦http://www.blogger.com/profile/01331144244005855332noreply@blogger.com2tag:blogger.com,1999:blog-8366134160104830312.post-85910139229186179952020-03-26T02:17:00.000+08:002020-05-20T02:33:34.841+08:00股票射倉 在上月中,我終於抽了些時間認真處理一下在大貓銀行戶口的股票,把它們一次過轉出銀行戶口然後轉入之前已經開戶的一通。為甚麼要這樣做?因為把股票放在銀行的手續費實在太高了!<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhuuJ4R-c9NgAwRQRBx9gRDsDFTwMsbMN5CQQEVSq_mkrwuFkPVAvQuz9qBUmAvizsoP8WU7wFMGLziX-f-EiIAf1xlR9P0lFeFXlQq2Kgz8dYrosc_J1diU-TCXKn5n6LnHf9A1UapTcnF/s1600/%25E8%25A8%25BB%25E8%25A7%25A3+2020-03-23+023152.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="777" data-original-width="1193" height="416" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhuuJ4R-c9NgAwRQRBx9gRDsDFTwMsbMN5CQQEVSq_mkrwuFkPVAvQuz9qBUmAvizsoP8WU7wFMGLziX-f-EiIAf1xlR9P0lFeFXlQq2Kgz8dYrosc_J1diU-TCXKn5n6LnHf9A1UapTcnF/s640/%25E8%25A8%25BB%25E8%25A7%25A3+2020-03-23+023152.png" width="640" /></a></div>
在銀行交易所需要付佣金比我在一通所需要的佣金多很多,雖然把當時把股票存放在大貓銀行是因為在大貓銀行月供股票的手續費可以豁免,但每個月都需要付$25的存倉費加上每隻股票派息時都需要付手續費。我粗略計算過,一年內所有的手續費比例大約是3%,對於我這些資金不多的人,3%的手續費都算是偏高,我心目中的手續費比例最好可以控制在1%左右,精打細算的我就決定把銀行的股票轉到一通,到了銀行分行叫職員幫我填寫轉倉通知後,過了數天後,我在大貓銀行的股票就轉入了一通。<br />
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為甚麼選擇一通?好簡單,一個字,平!(非廣告,純粹分享下)<br />
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在一通買賣港股是<span style="background-color: yellow;">零佣金</span><span style="background-color: white;">,當然一些買賣股票的必需收費依然需要支付,但交易成本已經比在</span>大貓銀行平了一大截,加上一通不需要付存倉費,這令我的交易成本能大大降低。<br />
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除了<span style="background-color: white;">零佣金和免</span>存倉費外,它有數個功能我認為在未來我都有機會能用上。第一個是月供股票。一通可月供的股票數量比其他的銀行和證券行多。一通的月供股票計劃可以設定目標股數,避免產生碎股,加上它的月供股票收費金額低廉,收費為$5一個月,你沒有睇錯,<u style="background-color: yellow;">$5一個月!!</u><span style="background-color: white;">我相信</span>在一通月供股票應該是全港最平。<br />
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第二個是碎股板。一通的碎股板以一通作為交易對手,換言之,你是向一通買入和賣出碎股,這能大大提高了交易成功的機會,不必人手下單和等候有相同碎股出現才能成交。之前我有篇<a href="https://have1111.blogspot.com/2020/02/blog-post_28.html">文章</a>提到一通的碎股板流通量偏低,後來我發現問題所在,原來我初初在買入碎股時用了限價盤,所以永遠都不到價。。。用市價盤就能解決問題。<br />
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第三個是可借出股票。一通網頁簡介借出股票是把自己手中股票借給一通作為給其他客戶沾空或其他用途,然後借出股票的客戶可以收回利息。<br />
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最後一個就是期權。我對股票期權有些認識,個人推薦期權先生的《期權現金流》,這本書清楚地講述期權的原理和使用方法,對期權新手入門來說是一本好書。</div>
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付出低廉手續費和佣金當然都需要付出代價,一通的交易平台都有不少缺點。第一項就是交易平台太簡陋,登入程序太復雜。例如在即時報價中,系統不能顯示排隊中等候買入和賣出的數量,又例如一通可供碎股買賣和月供股票的碎股名單只有股票號碼,十分不方便閱讀。最可笑是它的交易平台依然使用Flash。。。拜托!這是甚麼年代-_-。另一個可笑的地方是當我想進入期權買賣的版面時,它要你回答數題關於期權知題的選擇題,全對才可以進入那個版面=_="........</div>
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當然,上述這些問題都是一些小問題。老實說,在低廉的手續費下,又不能對它有太高要求。只要交易平台能正常登入、能快速匯入金錢和匯出金錢就可以了。</div>
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<span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">是第一次到訪的朋友嗎?歡迎你到訪我的小天地,如更想加深小弟我的背景,歡迎你到<a href="https://have1111.blogspot.com/2019/03/blog-post.html" style="color: #6699cc;">開站了</a>和<a href="https://have1111.blogspot.com/2019/03/blog-post_14.html" style="color: #6699cc;">談夢想</a>了解我更多,希望在未來的文章都能吸引你再次到訪。</span></div>
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晨曦http://www.blogger.com/profile/01331144244005855332noreply@blogger.com10tag:blogger.com,1999:blog-8366134160104830312.post-12933767121415965902020-03-13T03:03:00.002+08:002020-05-20T02:33:52.807+08:00勇者無懼 2020年的第一隻黑天鵝出現了在金融市場,新型冠狀病毒(武漢肺炎)在全球多國肆虐,特別在歐洲情況十分嚴重,全球大部分國家都不像香港一樣有經歷沙士的經歷,對這場新冠肺炎的警戒不足,所以在社區中出現大爆發。幸好香港人(不是特區政府)能吸取到當年的教訓,能採取適當的行動預防社區大爆發,香港暫時避免了社區大爆發。<br />
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<a href="https://cdn4.i-scmp.com/sites/default/files/styles/940w/public/images/methode/2018/03/25/fdaffac6-2db5-11e8-aca1-e0fd24c4b573_image_hires_003247.JPG?itok=bgGn--SA" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="535" data-original-width="800" height="425" src="https://cdn4.i-scmp.com/sites/default/files/styles/940w/public/images/methode/2018/03/25/fdaffac6-2db5-11e8-aca1-e0fd24c4b573_image_hires_003247.JPG?itok=bgGn--SA" width="640" /></a></div>
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<span style="background-color: yellow;">當年的記憶,大家還有沒有印象?Source:SCMP</span></div>
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2020年的第二隻黑天鵝也同時出現了。石油輸出國組織和俄羅斯關於減產原油的談判破裂,雙方同時增產,導致油價大跌。首當其衝的市場就是美股,為甚麼?因為美國開採頁岩油的成本是高於中東的原油,所以當油價下跌時,美國的能源公司的破產機會就會增加,連帶作為債主的銀行和持有能源公司債券的持有人都會有影響,最後金融的資金鏈就有機會斷裂,造成泡沫爆破。2020年3月9日,美股因為三大指數暴跌而觸發熔斷機制,三十年的美國股市只是觸發了一次熔斷機制,就是在1997年10月27日,我有幸見證今次歷史。執筆之時,美股再次觸發熔斷機制,2020年3月12日,投資者有幸再見證歷史。我心信2020年在金融歷史上值得佔有一章。<br />
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熊市來臨,同時意味數年一度的港交所和華爾街大減價終於要開始了!作為價值投資者的我,當然對這次大減價的開始感到興奮啦!我相信小弟我買貨的機會會增加,所以blog的更新速度會增加,我會另開一篇新的blog記錄一下自己的買入記錄。</div>
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我再三強調,本blog的所有文章都只供本人作為自己記錄之用,<span style="font-size: large;"><span style="background-color: yellow;"><u>切勿盲目跟隨</u></span>。<span style="background-color: white;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><u><b>投資涉及風險,在某些情況下,投資者可能會損失全部投資本金。</b></u></span></span></span></div>
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<span style="background-color: white; color: #333333;"><span style="font-family: "arial" , "helvetica" , sans-serif;">買入策略</span></span></div>
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<span style="font-family: "新細明體" , serif; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">恆生指數</span><span lang="EN-US"><o:p></o:p></span></div>
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<span style="font-family: "新細明體" , serif; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">買幾多貨</span><span lang="EN-US">?<o:p></o:p></span></div>
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<span lang="EN-US">24500<o:p></o:p></span></div>
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<span style="font-family: "新細明體" , serif; mso-ascii-font-family: Calibri; mso-ascii-theme-font: minor-latin; mso-fareast-theme-font: minor-fareast; mso-hansi-font-family: Calibri; mso-hansi-theme-font: minor-latin;">買少少</span></div>
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<span lang="EN-US">23000<o:p></o:p></span></div>
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<span lang="EN-US">買</span></div>
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<span lang="EN-US">21500<o:p></o:p></span></div>
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<span lang="EN-US">手上現金 all in</span></div>
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<span lang="EN-US">20000<o:p></o:p></span></div>
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<span lang="EN-US"> </span>借貸買入</div>
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<span lang="EN-US">18500<o:p></o:p></span></div>
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<span lang="EN-US">大力禁買 </span></div>
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<span lang="EN-US">17000<o:p></o:p></span></div>
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<span lang="EN-US">大大力禁買 </span></div>
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<span style="background-color: white; color: #333333;"><span style="font-family: "arial" , "helvetica" , sans-serif;"> 我會當</span></span><span style="font-family: , serif; text-align: center;">恆生指數每下跌1500點時或個股股價跌到了我心目中的股價時就會開始買入。當指數跌破二萬點時會考慮借貸買入。</span></div>
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<span style="background-color: white; color: #333333;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="color: black; font-family: "times new roman";">股票watchlist(次序不分先後)</span></span></span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"><span style="border: none; display: inline-block; height: 129px; overflow: hidden; width: 144px;"><img height="151" src="https://lh6.googleusercontent.com/5aJqURYtTeMrjZrCIIw52Zu6QDiY2MJ1KYJKIU5thMOwQE7iM42wjPl3KQhyOZ2yQcLC8xOu0CAGKf6op2f20t7KrYii98wolq06xr3-C7-VkdKeMir4dest4JwHtreBrp_kETcD" style="margin-left: 0px; margin-top: 0px;" width="151" /></span></span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">金界控股有限公司(3918)</span></div>
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<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"><span style="border: none; display: inline-block; height: 102px; overflow: hidden; width: 102px;"><img height="102" src="https://lh6.googleusercontent.com/TrvdbHe2Va5azNvOGNDUSmqTyiYwya55eomb1li9XhJQswCr27d5w3kOsPzSgvoXOEuSxqKH7PEWzKP7Q2Fgz3CCfVv1Jx_0nEZR_0EL_V_irODzT1ZV6uqVEKrFrv7tslMo_olE" style="margin-left: 0px; margin-top: 0px;" width="102" /></span></span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">小米集團-W(1810)</span></div>
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<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"><span style="border: none; display: inline-block; height: 88px; overflow: hidden; width: 158px;"><img height="88" src="https://lh4.googleusercontent.com/I_c7r1yJTHn3CxoXv2yh3OKjGrDerrMxaMOkXSMaj9GRXxizCSrNgcEBQ3N6GqD6vfdWKyy3r3cO5fB_MRHMEze_GGKrI5YQmJyJrogBSNw2WwWJ80UvpD0PZ7WGUOJnZot9N20n" style="margin-left: 0px; margin-top: 0px;" width="158" /></span></span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">利福國際(1212)</span></div>
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<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"><span style="border: none; display: inline-block; height: 42px; overflow: hidden; width: 151px;"><img height="42" src="https://lh6.googleusercontent.com/auAXI3WTe2CNOx0NHv6gjIgfSSNBDYnJC4gIjmI4eFk5nE-zJD6J8eQjrAEHjCv4E3VXGRvkgLYKunCFnv2TUhqN0jycye_xl1-p3r7EsqCYHMl4RPNVqRZT_fF0g-aG0tlpGvf2" style="margin-left: 0px; margin-top: 0px;" width="151" /></span></span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">恒生銀行(0011)</span></div>
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<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"><span style="border: none; display: inline-block; height: 56px; overflow: hidden; width: 151px;"><img height="56" src="https://lh4.googleusercontent.com/51kJDW1Toc3W6UHPAB8s5qZ9hcVwW3zl3isCxwA6FUM_xh9MHjXX-DWxuEAldS5cPBlEclrdeT9BDBOtuhcj5gCLWkDV0w4rJIcn0BPRp_VB-CQ24A533lPVjVRaqBcd6NJdgdWD" style="margin-left: 0px; margin-top: 0px;" width="151" /></span></span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">香港交易及結算所有限公司(0388)</span></div>
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</tbody></table>
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<div align="left" dir="ltr" style="margin-left: 0pt;">
<table style="border-collapse: collapse; border: none;"><colgroup><col width="172"></col><col width="103"></col><col width="151"></col><col width="89"></col></colgroup><tbody>
<tr style="height: 22.5pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">美股</span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">公司名稱</span></div>
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<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"><span style="border: none; display: inline-block; height: 105px; overflow: hidden; width: 138px;"><img height="105" src="https://lh4.googleusercontent.com/T0R7K4i0Ip4YsrX7No6JuZg3ALLaixn59T2Ikd1SHA_FRnMyZgCKuTaC17Ti6kw9Jw9_LmbMm8Ffi1_kP3Eysn2AaAob8jIb_ApubUeTgDQred4KlQWBZpPOJcNkEHQa-VYGy1T8" style="margin-left: 0px; margin-top: 0px;" width="138" /></span></span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Boeing(BA)</span></div>
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<tr style="height: 119.25pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"><span style="border: none; display: inline-block; height: 76px; overflow: hidden; width: 138px;"><img height="76" src="https://lh6.googleusercontent.com/Iu51wnq3msvvX6PohDP12lb7ii31bXsusB8aVGUawcnE6eSJQn68ilEXPuNQZG9qv3NW7n78-i2rHkQwq5NtEAFtURpX4WjSBQVvtCSYp-D89j-VrsGrsM4a80rdkdwfkGM6n_1g" style="margin-left: 0px; margin-top: 0px;" width="138" /></span></span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">WD-40 Company(WDFD)</span></div>
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<tr style="height: 66pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"><span style="border: none; display: inline-block; height: 71px; overflow: hidden; width: 138px;"><img height="71" src="https://lh3.googleusercontent.com/nSsynNLnZT4Q0G8eC2mh2TMIEVwIacUAXi8Nxig6zGaFdQ2OCjW5y_tcTR7HSo559FINYyOWj3PFiuonOi4B3hb0uMAG8r8CLKVdNm3CjtWA_Wy5x1rvIZ-qGp6ux1I3_SrPJIOv" style="margin-left: 0px; margin-top: 0px;" width="138" /></span></span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Apple (AAPL)</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"><span style="border: none; display: inline-block; height: 89px; overflow: hidden; width: 138px;"><img height="89" src="https://lh4.googleusercontent.com/S6jESP40M86ivE6iULw4LMZHOo-qssJ_d_oVBaAsYs2eQmYfRz30fPRfGdGBhXfhQ-jo7Gq3-dvXUJBUNq4u32Q_FCC-YeKnxYua429pvcFhRShHZeUG1xLDwhMGYPPB48UjwVsR" style="margin-left: 0px; margin-top: 0px;" width="138" /></span></span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Visa (V)</span></div>
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<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"><span style="border: none; display: inline-block; height: 139px; overflow: hidden; width: 138px;"><img height="139" src="https://lh3.googleusercontent.com/WcJFivXYghHCZ3gLWJ3jQex_tiFifAyHI2qdEhd1Cmp2CpF293pE0-eFrHTFZE53-qouh9xaKi4AwBfIs5ZPNypao7swWJmrApEg_j-_wheMC_yX22kL3FhA6CpNvgan7aeroZFi" style="margin-left: 0px; margin-top: 0px;" width="138" /></span></span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Walt Disney(DIS)</span></div>
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<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"><span style="border: none; display: inline-block; height: 124px; overflow: hidden; width: 138px;"><img height="124" src="https://lh5.googleusercontent.com/kyMKxHMiyn--I3QW5Mb6FlaG1AuRYIarW_Yl7MJR51ZHBTjbMxMlnG0dRbRSXR3YzXDbp3jZ2ATm7DR4df2Z6rP6A85o3UTi5EWsuPDyLzcQQG0_pdYahpT_Gmk4--006C0FCmwT" style="margin-left: 0px; margin-top: 0px;" width="138" /></span></span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">台灣積體電路製造公司(TSM)</span></div>
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<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"><span style="border: none; display: inline-block; height: 60px; overflow: hidden; width: 138px;"><img height="60" src="https://lh5.googleusercontent.com/s3JEWxCFflW49P0sUG7INnn70WELCu5TCJL0fB7Thwwycd4blZHyzM5MlIK_bEty_gWrbu31wQUb-bsiZeUHLjAB6rcGlYWI88KEgDizweQbEk3hO-aYrT3AT_DqZKIKKCAFUzMP" style="margin-left: 0px; margin-top: 0px;" width="138" /></span></span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Adobe(ADBE)</span></div>
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<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"><span style="border: none; display: inline-block; height: 92px; overflow: hidden; width: 138px;"><img height="92" src="https://lh5.googleusercontent.com/-Dji4VPKcvsdJCvN872Z5w9Qe6lQocJgtPZ3OHPZY8yaXDoec2LsLvRKJ3O1dBO-bhIQBGDYTV_GTLLWjZu1J2p9juQDzSQ9Ec4GpNfRMq_5D7gBNkb-tievl3zpcrYvPlQhzmAj" style="margin-left: 0px; margin-top: 0px;" width="138" /></span></span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Intel(INTC)</span></div>
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<tr style="height: 0pt;"><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"><span style="border: none; display: inline-block; height: 95px; overflow: hidden; width: 129px;"><img height="95" src="https://lh3.googleusercontent.com/ApeZdHMfGljMT0D-uiTJ0eCz3aX8jbOZUWolHSKNf_RbBMLVq8Cox7UPvARGVXQLqyWoTkJS6YOfXsmVcLHHTAXFnh7AjMflNGL8PgxaeqQuVgHqSY3hE8iEcu8z2r8Oq--thzNq" style="margin-left: 0px; margin-top: 0px;" width="129" /></span></span></div>
</td><td style="border-bottom: solid #000000 1pt; border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-top: solid #000000 1pt; overflow-wrap: break-word; overflow: hidden; padding: 5pt 5pt 5pt 5pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Costco(COST)</span></div>
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<span style="background-color: white; color: #333333;"><span style="font-family: "arial" , "helvetica" , sans-serif;">我記得中學上經濟堂的第一課就在說"limited resource cannot satisfy the unlimited wants"。我相信情況就像現在一樣吧。所以沒有可能同時買入所有的股票,看實際情況啦~</span></span><br />
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<span style="color: #333333;"><span style="background-color: yellow; font-family: "arial" , "helvetica" , sans-serif;">我相信過幾個月之後我的樣子xdd</span></span><br />
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<span style="background-color: white; color: #333333; font-family: "arial" , "helvetica" , sans-serif;">最後,記得量力而為。只要做好資產配置和風險管理,我</span><span style="background-color: white; color: #333333; font-family: "arial" , "helvetica" , sans-serif;">相信在熊市買入股票總比牛市</span><span style="background-color: white; color: #333333; font-family: "arial" , "helvetica" , sans-serif;">買入股票來得安全,祝大家都能用好的股價買入好的股票!</span></div>
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<span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">======================</span><br />
<span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">是第一次到訪的朋友嗎?歡迎你到訪我的小天地,如更想加深小弟我的背景,歡迎你到<a href="https://have1111.blogspot.com/2019/03/blog-post.html" style="color: #6699cc; text-decoration-line: none;">開站了</a>和<a href="https://have1111.blogspot.com/2019/03/blog-post_14.html" style="color: #6699cc; text-decoration-line: none;">談夢想</a>了解我更多,希望在未來的文章都能吸引你再次到訪。</span></div>
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晨曦http://www.blogger.com/profile/01331144244005855332noreply@blogger.com7tag:blogger.com,1999:blog-8366134160104830312.post-84982809656152330392020-02-28T03:23:00.002+08:002020-03-05T13:31:46.365+08:00月供股票第七,八期<span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">月供股票更新</span><br />
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<span style="background-color: white;"><span style="color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif;"><span style="font-size: 14.85px;">第七期</span></span></span><br />
<span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;"></span><b style="background-color: white; color: #333333; font-family: Arial, Tahoma, Helvetica, FreeSans, sans-serif; font-size: 14.85px;">港鐵公司(0066)</b><br />
<span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">買入股數:21</span><br />
<span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">金額:982.25</span><br />
<span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;"><br /></span><span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;"><b>比亞迪股份(1211)</b></span><br />
<span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">買入股數:23</span><br />
<span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">金額:966</span><br />
<span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;"><br /></span><span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;"></span><span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;"><b>盈富基金(2800)</b></span><br />
<span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">買入股數:34</span><br />
<span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">金額:978.25</span><br />
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<span style="background-color: white;"><span style="color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif;"><span style="font-size: 14.85px;">第八期</span></span></span><br />
<span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;"></span><b style="background-color: white; color: #333333; font-family: Arial, Tahoma, Helvetica, FreeSans, sans-serif; font-size: 14.85px;">港鐵公司(0066)</b><br />
<span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">買入股數:22</span><br />
<span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">金額:987.93</span><br />
<span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;"><br /></span><span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;"><b>比亞迪股份(1211)</b></span><br />
<span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">買入股數:21</span><br />
<span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">金額:964.3</span><br />
<span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;"><br /></span><span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;"></span><span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;"><b>盈富基金(2800)</b></span><br />
<span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">買入股數:35</span><br />
<span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">金額:978.25</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="background-color: white; color: #333333; font-size: 14.85px;"> 上月沒有更新月</span><span style="background-color: white; color: #333333; font-size: 14.85px;">供股票的記錄是因為小弟認為這些純記錄金額和股票的文章讀者應該都沒有太大興趣,加</span><span style="background-color: white; color: #333333; font-size: 14.85px;">上為了讓自己增加出blog的次數,所以決定所有的買賣紀錄每兩個月才更新一次。二月</span></span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="background-color: white; color: #333333; font-size: 14.85px;"> 二月同時是目前月供計劃的最後一期,小弟同時優化了這個</span></span><span style="background-color: white; color: #333333; font-family: "arial" , "helvetica" , sans-serif; font-size: 14.85px;">計劃,實行了一個新</span><span style="background-color: white; color: #333333; font-family: "arial" , "helvetica" , sans-serif; font-size: 14.85px;">計劃。</span><span style="color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">盈富基金、</span><span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">港鐵公司和</span><span style="color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">比亞迪股份的月供將會暫停,改為定時手動買入</span><span style="color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">比亞迪股份的</span><span style="color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">碎股。這樣做的原因是</span><span style="color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">比亞迪股份的股價波動十分大,如用月供股票的方法買入,有機會已經錯過買入的機會或在不適當的時間買入。至於</span><span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">港鐵公司,同樣會用手動</span><span style="color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">買入</span><span style="color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">碎股,但只會在</span><span style="color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">市價</span><span style="color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">低於</span><span style="color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">月供股價時才會買入。</span><span style="color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">盈富基金就會暫時持有,等待機會放出。</span><br />
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<span style="color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;"> 同時這都是在大貓銀行月供股票的最後一期。在銀行月供股票的手續費偏高,差不多佔近3%,明顯過高,所以同時小弟將所有在大貓銀行的股票全部轉倉致股票行。</span><br />
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<span style="color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;"> 執筆時全球股市都因武漢肺炎的症情出應少許恐慌情緒,小弟暫時先按兵不動,繼續增加現金,等候時機,分別買入港股和美股。</span><br />
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<span style="color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">5/3更新:小弟我發現碎股的交投量比我想像中的低,較難買入適當碎股,所以決定再月供</span><span style="color: #333333; font-family: arial, tahoma, helvetica, freesans, sans-serif; font-size: 14.85px;">盈富基金和</span><span style="background-color: white; color: #333333; font-family: arial, tahoma, helvetica, freesans, sans-serif; font-size: 14.85px;">港鐵公司致最近的完整手數,之後就主力儲起現金,分段入市。</span><br />
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<span style="color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">是第一次到訪的朋友嗎?歡迎你到訪我的小天地,如更想加深小弟我的背景,歡迎你到<a href="https://have1111.blogspot.com/2019/03/blog-post.html">開站了</a>和<a href="https://have1111.blogspot.com/2019/03/blog-post_14.html">談夢想</a>了解我更多,希望在未來的文章都能吸引你再次到訪。</span>晨曦http://www.blogger.com/profile/01331144244005855332noreply@blogger.com4tag:blogger.com,1999:blog-8366134160104830312.post-48176178921395895132020-02-10T17:43:00.000+08:002020-08-13T17:16:01.236+08:00羊群效應<span style="color: black; font-family: "新細明體" , serif; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-hansi-font-family: Arial;">武漢肺炎大爆發,目前香港已經確診</span><span lang="EN-US" style="color: black; font-family: "arial" , sans-serif;">29</span><span style="color: black; font-family: "新細明體" , serif; mso-ascii-font-family: Arial; mso-bidi-font-family: Arial; mso-hansi-font-family: Arial;">宗個案,中國和其他國家的感染人數繼續上升,香港政府依然故我,繼續莫視民意,遲遲不願意全面封關,香港市面人心惶惶。我相信香港距離社區爆發的日子應該不遠,加上在醫療設施和物資短缺下,今次<span style="background: white;">疫情絕對不能小看。</span></span><br />
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</span><span style="color: black; font-family: "新細明體" , serif; mso-bidi-font-family: 新細明體;">近期市民都成驚弓之鳥,市民都不斷外出搶購醫療物資,當中口<span style="background: white;">罩、漂白水和其他消毒物品都成搶購目標,每日的新聞就是不停排隊等候購買</span>醫療物資。近日有些小人在網上散佈<span style="background: white;">謠言,指部分日常用品例如出前一丁、廁紙、米等等將會缺貨,令大量市民不理會消息的真假,馬上到超級市場、藥房等地方搶購大量日用品,令本身不停</span>搶購物資的情況更加嚴重。</span><span lang="EN-US" style="color: black;"><o:p></o:p></span></div>
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</span><span style="color: black; font-family: "新細明體" , serif; mso-bidi-font-family: 新細明體;">對於網上散佈<span style="background: white;">謠言的人,我表示十分生氣,</span>散佈<span style="background: white;">謠言不但對疫情沒有幫助,更令真正需要那</span>物資的人不能購買到所需要的物資,令他們都變得<span style="background: white;">恐慌,令情況變得更混亂。數天前,當我收到這些信息時,我父親馬上叫我去樓下超級市場買些東西回家,當我去到超級市場時,所有廁紙和米都已經沒有了,最誇張的是,連即食麵都沒有了</span></span><span lang="EN-US" style="background: white; color: black; font-family: "arial" , sans-serif;">!!</span><span style="background: white; color: black; font-family: "新細明體" , serif;">然後每一部手推車裡都有大量的出前一丁,人們買的數量是我認為這輩子再也不能再吃到出前一丁一樣。有一刻,我都覺得世界末日要來了。</span><span lang="EN-US" style="color: black;"><o:p></o:p></span><br />
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<span style="color: black; font-family: "新細明體" , serif; mso-bidi-font-family: 新細明體;">我去到超級市場時,放<span style="background: white;">廁紙和米的貨架空空如也</span></span><span lang="EN-US" style="color: black;"><o:p></o:p></span></div>
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<span style="background: white; color: black; font-family: "新細明體" , serif;">我想提出的是,不要聽到有</span><span style="color: black; font-family: "新細明體" , serif; mso-bidi-font-family: 新細明體;">消息時沒有經過思考就作出行動。日常生活如此,在投資世界都是一樣。所有消息都需要經過分析和思考後再行動,不要盲目跟隨。</span><span lang="EN-US" style="color: black;"><o:p></o:p></span></div>
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<span style="color: black; font-family: "新細明體" , serif; mso-bidi-font-family: 新細明體;">舉出前一丁作例子,香港的出前一丁即食麵是在香港製造的,中國工廠停廠和出前一丁有咩關係?最多都係合味道杯麵有機會有影響,因為大部分的合味道杯麵都是中國製造,但即食麵和杯麵有沒有替代品?答案是有的,沒有香港版的出前一丁和合味道,我們可以買日本版出前一丁和日本杯麵,還有其他國家的即食麵,這樣的話,為甚麼要搶購呢</span><span lang="EN-US" style="color: black; font-family: "inherit" , serif;">?</span><span lang="EN-US" style="color: black;"><o:p></o:p></span></div>
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<a href="https://www.blogger.com/blogger.g?tab=rj&blogID=8366134160104830312" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"></a><a href="https://www.blogger.com/blogger.g?tab=rj&blogID=8366134160104830312" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"></a><span style="color: black; font-family: "新細明體" , serif; mso-bidi-font-family: 新細明體;">米都是一樣,香港市面所買到的米大部分都從泰國、越南等地進口,中國出口的米只佔市面上的米很少部分,加上米都有大量的替代品,例如台灣米、日本米,甚至美國米,同時食用米政府規定了要求米商需要儲備一定數量的米,所以香港食米的供應應該問題不大。</span><span lang="EN-US" style="color: black;"><o:p></o:p></span></div>
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<span lang="EN-US" style="color: black; font-family: "inherit" , serif;"><a href="https://www.facebook.com/poorLhk"><span lang="EN-US" style="font-family: "新細明體" , serif; mso-bidi-font-family: 新細明體;"><span lang="EN-US">窮家有道</span></span>-<span lang="EN-US" style="font-family: "新細明體" , serif; mso-bidi-font-family: 新細明體;"><span lang="EN-US">窮生</span></span></a></span><span style="color: black; font-family: "新細明體" , serif; mso-bidi-font-family: 新細明體;">就有另一個觀點,說明了理智思考的重要:</span><span lang="EN-US" style="color: black;"><o:p></o:p></span></div>
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<span lang="EN-US" style="color: black; font-family: "inherit" , serif;">"</span><span style="color: black; font-family: "新細明體" , serif; mso-bidi-font-family: 新細明體;">點解搶醫療用品係合理,搶廁紙係無必要?</span><span lang="EN-US" style="color: black;"><o:p></o:p></span></div>
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<span style="color: black; font-family: "新細明體" , serif; mso-bidi-font-family: 新細明體;">口罩,中國生產量佔全球</span><span lang="EN-US" style="color: black; font-family: "inherit" , serif;">50%</span><span style="color: black; font-family: "新細明體" , serif; mso-bidi-font-family: 新細明體;">,平時日產</span><span lang="EN-US" style="color: black; font-family: "inherit" , serif;">2000</span><span style="color: black; font-family: "新細明體" , serif; mso-bidi-font-family: 新細明體;">萬個,同時中國係口罩原料出口大國,你有機,有生產線,都要原材料。而家出左事,中國口罩內需無可能夠,所以香港要同其他生產國搶,一日最少</span><span lang="EN-US" style="color: black; font-family: "inherit" , serif;">700</span><span style="color: black; font-family: "新細明體" , serif; mso-bidi-font-family: 新細明體;">萬個,係一定無可能。呢條數足證搶口罩嘅合理性,而其他野係咪都係咁呢?</span><span lang="EN-US" style="color: black; font-family: "inherit" , serif;">"</span><span lang="EN-US" style="color: black;"><o:p></o:p></span></div>
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<span style="color: black; font-family: "新細明體" , serif; mso-bidi-font-family: 新細明體;">所以事實證明口罩不足是一件正常的事,人們在市面搶購醫療用品是因為供應嚴重不足而導致,話雖如此,如大家醫療用品和日常用品都足夠使用一個月左右,就把物資留給真正有需要的人,每個人都要有充足的物資,這樣才可以一起跨過難關。</span><span lang="EN-US" style="color: black;"><o:p></o:p></span></div>
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<span lang="EN-US" style="color: black; font-family: "inherit" , serif;">"</span><span style="color: black; font-family: "新細明體" , serif; mso-bidi-font-family: 新細明體;">市場需要會分析的投資者,也需要盲毛</span><span lang="EN-US" style="color: black; font-family: "inherit" , serif;">"</span><span style="color: black; font-family: "新細明體" , serif; mso-bidi-font-family: 新細明體;">(窮生</span><span lang="EN-US" style="color: black; font-family: "inherit" , serif;">,2020</span><span style="color: black; font-family: "新細明體" , serif; mso-bidi-font-family: 新細明體;">)沒有盲毛高位買入股票,然後在低位放出</span><span style="color: black; font-family: inherit; mso-bidi-font-family: 新細明體;">,我們怎能在低位買入好公司的股票?投資如此,日常生活都一樣。價值投資不但教曉了我投資上的價值</span><span style="color: black; font-family: "新細明體" , serif; mso-bidi-font-family: 新細明體;">,更教曉我生活中的價值。</span><span lang="EN-US" style="color: black;"><o:p></o:p></span></div>
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<span style="color: #333333; font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif; font-size: 14.85px;">======================</span><br />
<span style="color: #333333; font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif; font-size: 14.85px;">是第一次到訪的朋友嗎?歡迎你到訪我的小天地,如更想加深小弟我的背景,歡迎你到<a href="https://have1111.blogspot.com/2019/03/blog-post.html">開站了</a>和<a href="https://have1111.blogspot.com/2019/03/blog-post_14.html">談夢想</a>了解我更多,希望在未來的文章都能吸引你再次到訪。</span>晨曦http://www.blogger.com/profile/01331144244005855332noreply@blogger.com2tag:blogger.com,1999:blog-8366134160104830312.post-43252152178154674612020-01-13T03:11:00.000+08:002020-03-04T12:23:02.996+08:00個人資產負債表新的一年,先祝各位新年快樂,股運亨通,點石成金。<br />
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在去年開始,我決定在年末花一日時間,去計算一下自已的所持有的資產。一方面可以讓自已清楚自已目前的財務情況,讓自已了解距離自已所定下的目標還有多少空間。最重要的是,可以讓自己回顧以前的財務情況,看到自己的進步,鼓勵自己繼續向前。<br />
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以上就是我的個人資產負債表。個人資產負債表的設計基本和一般資產負債表大致相同,不同的只是資產中的項目會比公司資產負債表中的項目簡單。個人資產負債表主要分為四部分,固定資產、流動資產、流動負債和固定負債。</div>
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在固定資產中,我對它的定義是資產中的價值會被鎖死超過一年,同時這個種類的資產</div>
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都需要一段長時間才可套現。在上圖,我就把我的MPF戶口和保單現金價值放進這個分類。(其實房子都可以放進這個分類,但我暫時還沒有.......)</div>
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在流動資產中,任何容易套現成為現金的資產我都會放進這個分類。這包括了手上的股票、手上的外幣和現金,同時已借出的金錢也同時列入在流動資產中(當然,前題是你的債仔能準時還款啦XD)</div>
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在流動負債中,我就把需要在一個月內需要付清的債務列入了這個分類,包括了不同信用卡的卡數,如有其他個人的債務也可以同時列入這個分類中。</div>
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在固定負債中,如有債務的還款年期是超過一年的就可以列入這個分類中,但我暫時不需要背負上這麼巨大的債務,所以這項可以暫時空著。(Yeah!)</div>
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前向財務自由的路是難走的,這條路的困難之處是你不是一時三刻就能到達終點,同時也需要付出大量時間和心力去做一些有機會付出和收獲不成正比的事情。當中難免有失落和懷疑自己的時間。這個個人資產負債表能讓自己看見自己的努力,自己的資產正在一步步上升,鼓勵自己繼續向未知的未來前進。有朝一日,當自己達成財務自由這個目標時,這個資產負債表也可以作為一個見證,見證我自己的財務自由之路是從2018年開始,從一個資產是負數的窮小子變成了一個為了不想被工作困擾,可以有更多時間實現自己夢想也同時不需要為生活開支擔心的大男孩。</div>
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<span style="color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">======================</span><br />
<span style="color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">是第一次到訪的朋友嗎?歡迎你到訪我的小天地,如更想加深小弟我的背景,歡迎你到<a href="https://have1111.blogspot.com/2019/03/blog-post.html">開站了</a>和<a href="https://have1111.blogspot.com/2019/03/blog-post_14.html">談夢想</a>了解我更多,希望在未來的文章都能吸引你再次到訪。</span>晨曦http://www.blogger.com/profile/01331144244005855332noreply@blogger.com2tag:blogger.com,1999:blog-8366134160104830312.post-40168108565421839482019-12-30T03:34:00.002+08:002020-07-30T02:51:41.124+08:00月供股票第六期及年終資產更新<span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">月供股票更新</span><br />
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<b style="background-color: white; color: #333333; font-family: Arial, Tahoma, Helvetica, FreeSans, sans-serif; font-size: 14.85px;">港鐵公司(0066)</b><br />
<span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">買入股數:22</span><br />
<span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">金額:975.11</span><br />
<span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;"><br /></span><span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;"><b>比亞迪股份(1211)</b></span><br />
<span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">買入股數:26</span><br />
<span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">金額:966.73</span><br />
<span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;"><br /></span><span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;"></span><span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;"><b>盈富基金(2800)</b></span><br />
<span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">買入股數:37</span><br />
<span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">金額:986.05</span><br />
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<span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">股票倉位</span><br />
<br style="background-color: white; color: #333333; font-family: Arial, Tahoma, Helvetica, FreeSans, sans-serif; font-size: 14.85px;" />
<span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">港鐵公司(0066)</span><br />
<span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">股份數:358</span><br />
<span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">平均買入價:43.67</span><br />
<span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">總回報:+7.75%</span><br />
<br />
<span style="color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif;"><span style="font-size: 14.85px;">比亞迪股份(1211)</span></span><br />
<span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">股份數:208</span><br />
<span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">平均買入價:42.75</span><br />
<span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">總回報:-11.58%</span><br />
<br style="background-color: white; color: #333333; font-family: Arial, Tahoma, Helvetica, FreeSans, sans-serif; font-size: 14.85px;" />
<span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">盈富基金(2800)</span><br />
<span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">股份數:791</span><br />
<span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">平均買入價:27.52</span><br />
<span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">總回報:+6.13%</span><br />
<br style="background-color: white; color: #333333; font-family: Arial, Tahoma, Helvetica, FreeSans, sans-serif; font-size: 14.85px;" />
<span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">股票倉總回報:+4.6%</span><br />
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<span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">今年的是我正式開始投資的第一年,始終經驗不太足夠,加上香港今年經歷反收例風波,股市十分波動,在這市場環境</span><span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">股票倉依然是正數,小弟我已經心滿意足。在今年其實有很多不同的買入機會,但都因心理希望等候更低價格,沒有在適當的價格買入,最後未能把握機會買入。加上自己的現金不足,未能買入心儀公司的股票。在下一年,小弟要繼續學習不同的投資知識,繼續增增加自己的收入和現金儲備外,還要繼續去分析不同的公司,尋找更多投資機會,也同時要告戒自己,不要重覆去年所犯下的低級錯誤和要跟隨自己的投資計劃,分段買入股票,不要盲目等候「最佳」的價格。</span><br />
<span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">新一年,新開始,希望來年的自己比上年的自己更強大,經驗更豐富,賞握的知識更多,比去年更好。同時希望香港的情況都一樣,「</span><span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">比去年更好</span><span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">」。</span><br />
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<span style="color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">======================</span><br />
<span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;"></span><br />
<span style="color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 14.85px;">是第一次到訪的朋友嗎?歡迎你到訪我的小天地,如更想加深小弟我的背景,歡迎你到<a href="https://have1111.blogspot.com/2019/03/blog-post.html">開站了</a>和<a href="https://have1111.blogspot.com/2019/03/blog-post_14.html">談夢想</a>了解我更多,希望在未來的文章都能吸引你再次到訪。</span>晨曦http://www.blogger.com/profile/01331144244005855332noreply@blogger.com0tag:blogger.com,1999:blog-8366134160104830312.post-7530649267903837342019-12-21T02:36:00.000+08:002020-08-13T17:16:20.315+08:00個股分析:Global X 恒生高股息率ETF(3110)<div style="margin-bottom: .0001pt; margin: 0cm;">
<span lang="EN-US" style="font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-bidi-font-family: Arial; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;">ETF</span><span style="font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-bidi-font-family: 新細明體; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;">簡介:</span><span lang="EN-US" style="font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;"><o:p></o:p></span></div>
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<span style="font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-bidi-font-family: 新細明體; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;">本</span><span lang="EN-US" style="font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-bidi-font-family: Arial; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;">ETF</span><span style="font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-bidi-font-family: 新細明體; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;">前稱是未來恆生高股息率</span><span lang="EN-US" style="font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-bidi-font-family: Arial; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;">ETF</span><span style="font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-bidi-font-family: 新細明體; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;">。本</span><span lang="EN-US" style="font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-bidi-font-family: Arial; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;">ETF</span><span style="font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-bidi-font-family: 新細明體; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;">是由未來資產投資集團作為管理人。未來資產投資集團<span style="color: #3c3c3c;">在</span></span><span lang="EN-US" style="color: #3c3c3c; font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-bidi-font-family: Arial; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;">1997</span><span style="color: #3c3c3c; font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-bidi-font-family: 新細明體; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;">年成立,公司全球有超過</span><span lang="EN-US" style="color: #3c3c3c; font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-bidi-font-family: Arial; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;">178</span><span style="color: #3c3c3c; font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-bidi-font-family: 新細明體; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;">名投資專業人士專注建構新興市場投資組合。截至</span><span lang="EN-US" style="color: #3c3c3c; font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-bidi-font-family: Arial; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;">2018</span><span style="color: #3c3c3c; font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-bidi-font-family: 新細明體; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;">年</span><span lang="EN-US" style="color: #3c3c3c; font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-bidi-font-family: Arial; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;">12</span><span style="color: #3c3c3c; font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-bidi-font-family: 新細明體; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;">月底,未來資產管理</span><span lang="EN-US" style="color: #3c3c3c; font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-bidi-font-family: Arial; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;">1,285</span><span style="color: #3c3c3c; font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-bidi-font-family: 新細明體; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;">億美元的客戶資產,橫跨多種資產類別和投資方案(資料來源:</span><span style="font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-bidi-font-family: 新細明體; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;">未來資產投資集團<span style="color: #3c3c3c;">)。本</span></span><span lang="EN-US" style="color: #3c3c3c; font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-bidi-font-family: Arial; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;">ETF</span><span style="color: #3c3c3c; font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-bidi-font-family: 新細明體; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;">所追蹤的指數為</span><span style="background: white; color: #333333; font-family: "新細明體" , serif; font-size: 11.0pt;">恒</span><span style="color: #3c3c3c; font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-bidi-font-family: 新細明體; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;">生高股息率指數。</span><span lang="EN-US" style="font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;"><o:p></o:p></span></div>
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<span lang="EN-US" style="color: #3c3c3c; font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-bidi-font-family: Arial; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;"><br />
ETF</span><span style="color: #3c3c3c; font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-bidi-font-family: 新細明體; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;">持股:</span><span lang="EN-US" style="font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;"><o:p></o:p></span></div>
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<span style="font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-bidi-font-family: 新細明體; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;">本</span><span lang="EN-US" style="font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-bidi-font-family: Arial; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;">ETF</span><span style="background: white; color: #333333; font-family: "新細明體" , serif;">的持股是追蹤恆生</span><span style="color: #3c3c3c; font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-bidi-font-family: 新細明體; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;">高股息率</span><span style="background: white; color: #333333; font-family: "新細明體" , serif;">指數中的成份股,當恆生</span><span style="color: #3c3c3c; font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-bidi-font-family: 新細明體; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;">高股息率</span><span style="background: white; color: #333333; font-family: "新細明體" , serif;">指數成份股有變動時,</span><span style="font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-bidi-font-family: 新細明體; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;">本</span><span lang="EN-US" style="font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-bidi-font-family: Arial; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;">ETF</span><span style="background: white; color: #333333; font-family: "新細明體" , serif;">同時會買入或買出相關公司股票,達至</span><span lang="EN-US" style="font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-bidi-font-family: Arial; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;">ETF</span><span style="background: white; color: #333333; font-family: "新細明體" , serif;">內持股和恆生</span><span style="color: #3c3c3c; font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-bidi-font-family: 新細明體; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;">高股息率</span><span style="background: white; color: #333333; font-family: "新細明體" , serif;">指數內成份股一致。</span><span lang="EN-US" style="font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;"><o:p></o:p></span></div>
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<span style="font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-bidi-font-family: 新細明體; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;">本</span><span lang="EN-US" style="font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-bidi-font-family: Arial; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;">ETF</span><span style="font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-bidi-font-family: 新細明體; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;">十大持股:</span><span lang="EN-US" style="font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-bidi-font-family: Arial; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;">(</span><span style="font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-bidi-font-family: 新細明體; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;">截至</span><span lang="EN-US" style="font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-bidi-font-family: Arial; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;"> 2019 </span><span style="font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-bidi-font-family: 新細明體; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;">年</span><span lang="EN-US" style="font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-bidi-font-family: Arial; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;"> 9 </span><span style="font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-bidi-font-family: 新細明體; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;">月</span><span lang="EN-US" style="font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-bidi-font-family: Arial; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;"> 30 </span><span style="font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-bidi-font-family: 新細明體; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;">日</span><span lang="EN-US" style="font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-bidi-font-family: Arial; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;">)</span><span lang="EN-US" style="font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;"><o:p></o:p></span></div>
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<span lang="EN-US" style="background: white; color: #333333; font-family: "新細明體" , serif;">1.</span><span style="background: white; color: #333333; font-family: "新細明體" , serif;">玖龍紙業</span><span style="background: white; color: #333333; font-family: "新細明體" , serif;"> </span><span style="background: white; color: #333333; font-family: "新細明體" , serif;">佔基金資產淨值百分比:</span><span lang="EN-US" style="background: white; color: #333333; font-family: "新細明體" , serif;">3.63%</span><span lang="EN-US" style="font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;"><o:p></o:p></span></div>
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<span lang="EN-US" style="background: white; color: #333333; font-family: "新細明體" , serif;">2.</span><span style="background: white; color: #333333; font-family: "新細明體" , serif;">偉易達集團</span><span lang="EN-US" style="background: white; color: #333333; font-family: "新細明體" , serif;"> </span><span style="background: white; color: #333333; font-family: "新細明體" , serif;">佔基金資產淨值百分比:</span><span lang="EN-US" style="background: white; color: #333333; font-family: "新細明體" , serif;">3.26%</span><span lang="EN-US" style="font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;"><o:p></o:p></span></div>
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<span lang="EN-US" style="background: white; color: #333333; font-family: "新細明體" , serif;">3.</span><span style="background: white; color: #333333; font-family: "新細明體" , serif;">建滔集團</span><span lang="EN-US" style="background: white; color: #333333; font-family: "新細明體" , serif;"> </span><span style="background: white; color: #333333; font-family: "新細明體" , serif;">佔基金資產淨值百分比:</span><span lang="EN-US" style="background: white; color: #333333; font-family: "新細明體" , serif;">3.23%</span><span lang="EN-US" style="font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;"><o:p></o:p></span></div>
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<span lang="EN-US" style="background: white; color: #333333; font-family: "新細明體" , serif;">4.</span><span style="background: white; color: #333333; font-family: "新細明體" , serif;">深圳國際</span><span lang="EN-US" style="background: white; color: #333333; font-family: "新細明體" , serif;"> </span><span style="background: white; color: #333333; font-family: "新細明體" , serif;">佔基金資產淨值百分比:</span><span lang="EN-US" style="background: white; color: #333333; font-family: "新細明體" , serif;">2.98%</span><span lang="EN-US" style="font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;"><o:p></o:p></span></div>
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<span lang="EN-US" style="background: white; color: #333333; font-family: "新細明體" , serif;">5.</span><span style="background: white; color: #333333; font-family: "新細明體" , serif;">南通中集</span><span lang="EN-US" style="background: white; color: #333333; font-family: "新細明體" , serif;"> </span><span style="background: white; color: #333333; font-family: "新細明體" , serif;">佔基金資產淨值百分比:</span><span lang="EN-US" style="background: white; color: #333333; font-family: "新細明體" , serif;">2.91%</span><span lang="EN-US" style="font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;"><o:p></o:p></span></div>
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<span lang="EN-US" style="background: white; color: #333333; font-family: "新細明體" , serif;">6.</span><span style="background: white; color: #333333; font-family: "新細明體" , serif;">中石化股份</span><span lang="EN-US" style="background: white; color: #333333; font-family: "新細明體" , serif;"> </span><span style="background: white; color: #333333; font-family: "新細明體" , serif;">佔基金資產淨值百分比:</span><span lang="EN-US" style="background: white; color: #333333; font-family: "新細明體" , serif;">2.88%</span><span lang="EN-US" style="font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;"><o:p></o:p></span></div>
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<span lang="EN-US" style="background: white; color: #333333; font-family: "新細明體" , serif;">7.</span><span style="background: white; color: #333333; font-family: "新細明體" , serif;">富力地產佔基金資產淨值百分比:</span><span lang="EN-US" style="background: white; color: #333333; font-family: "新細明體" , serif;">2.85%</span><span lang="EN-US" style="font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;"><o:p></o:p></span></div>
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<span lang="EN-US" style="background: white; color: #333333; font-family: "新細明體" , serif;">8.</span><span style="background: white; color: #333333; font-family: "新細明體" , serif;">裕元集團</span><span lang="EN-US" style="background: white; color: #333333; font-family: "新細明體" , serif;"> </span><span style="background: white; color: #333333; font-family: "新細明體" , serif;">佔基金資產淨值百分比:</span><span lang="EN-US" style="background: white; color: #333333; font-family: "新細明體" , serif;">2.84%</span><span lang="EN-US" style="font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;"><o:p></o:p></span></div>
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<span lang="EN-US" style="background: white; color: #333333; font-family: "新細明體" , serif;">9.</span><span style="background: white; color: #333333; font-family: "新細明體" , serif;">信義玻璃</span><span lang="EN-US" style="background: white; color: #333333; font-family: "新細明體" , serif;"> </span><span style="background: white; color: #333333; font-family: "新細明體" , serif;">佔基金資產淨值百分比:</span><span lang="EN-US" style="background: white; color: #333333; font-family: "新細明體" , serif;">2.59%</span><span lang="EN-US" style="font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;"><o:p></o:p></span></div>
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<span lang="EN-US" style="background: white; color: #333333; font-family: "新細明體" , serif;">10.</span><span style="background: white; color: #333333; font-family: "新細明體" , serif;">禹洲地產</span><span lang="EN-US" style="background: white; color: #333333; font-family: "新細明體" , serif;"> </span><span style="background: white; color: #333333; font-family: "新細明體" , serif;">佔基金資產淨值百分比:</span><span lang="EN-US" style="background: white; color: #333333; font-family: "新細明體" , serif;">2.58%</span><span lang="EN-US" style="font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;"><o:p></o:p></span></div>
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</span><span style="background: white; color: #333333; font-family: "新細明體" , serif;">在我的角度,本</span><span lang="EN-US" style="background: white; color: #333333; font-family: "新細明體" , serif;">ETF</span><span style="background: white; color: #333333; font-family: "新細明體" , serif;">有幾種風險。第一個是中國內地企業佔的比例偏高。</span><span lang="EN-US" style="font-family: , serif;"><o:p></o:p></span></div>
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<span style="background: white; color: #333333; font-family: "新細明體" , serif;">在上一篇</span><span lang="EN-US" style="background: white; color: #333333; font-family: "新細明體" , serif;"><a href="https://have1111.blogspot.com/2019/10/2800.html" style="background-color: transparent;"><span lang="EN-US"><span lang="EN-US">盈富基金</span></span></a></span><span style="background: white; color: #333333; font-family: "新細明體" , serif;">的分析中,我是不太喜歡</span><span lang="EN-US" style="background: white; color: #333333; font-family: "新細明體" , serif;">ETF</span><span style="background: white; color: #333333; font-family: "新細明體" , serif;">中有大量自己沒有興趣持有的股票,本</span><span lang="EN-US" style="background: white; color: #333333; font-family: "新細明體" , serif;">ETF</span><span style="font-family: , serif;">十大持股中最少有八間公司的股票我都沒有興趣持有,持有一些自己沒有興趣,所以沒有去研究的股票是十分危險的事。因為如果</span><span lang="EN-US" style="font-family: , serif;">ETF</span><span style="font-family: , serif;">內的公司萬一發生了一些重大事件,導致</span><span lang="EN-US" style="font-family: , serif;">ETF</span><span style="font-family: , serif;">的價格可能有變化而你因為沒有去了解這間公司而沒有去作出相關的行動,可能會導致損失。</span><span lang="EN-US" style="font-family: , serif;"><o:p></o:p></span></div>
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<span style="font-family: , serif;">第二個風險是派息不定時。根據本</span><span lang="EN-US" style="font-family: , serif;">ETF</span><span style="font-family: , serif;">的官方網頁,它指出了本</span><span lang="EN-US" style="font-family: , serif;">ETF</span><span style="font-family: , serif;">的其中一個風險是</span><span lang="EN-US" style="font-family: , serif;">"</span><span style="font-family: , serif;">股息風險</span><span lang="EN-US" style="font-family: , serif;">"</span><span style="font-family: , serif;">。</span><span lang="EN-US" style="font-family: , serif;"><o:p></o:p></span></div>
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<span lang="EN-US" style="font-family: , serif;">"</span><span style="font-family: , serif;">無法保證會就組成恒生高股息率指數的證券宣派及派付股息。有關該等證券的股息派付<o:p></o:p>率視乎恒生高股息率指數成分證券的公司或</span><span lang="EN-US" style="font-family: , serif;"> REIT </span><span style="font-family: , serif;">的表現以及管理人無法控制的因素(包<o:p></o:p>括但不限於該等公司或</span><span lang="EN-US" style="font-family: , serif;"> REIT </span><span style="font-family: , serif;">的股息分派政策)而定。子基金是否派息乃由管理人考慮多項因素及其自身分派政策後酌情決定。無法保證子基金的派息率與恒生高股息率指數相同。</span><span lang="EN-US" style="font-family: , serif;">"<o:p></o:p></span></div>
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<span style="font-family: , serif;">本</span><span lang="EN-US" style="font-family: , serif;">ETF</span><span style="font-family: , serif;">在</span><span lang="EN-US" style="font-family: , serif;">2016-18</span><span style="font-family: , serif;">年間都有定期派息,但是本</span><span lang="EN-US" style="font-family: , serif;">ETF</span><span style="font-family: , serif;">目前到十二月九日都沒有宣佈分派股息,包括中期和末期股息。<o:p></o:p>產品資料概要中都沒有提到是否會補發股息和沒有向投資者解釋為何沒有派發收到的股息及收到的股息的用途是甚麼。所以我對本</span><span lang="EN-US" style="font-family: , serif;">ETF</span><span style="font-family: , serif;">的透明度打了一個大大的問號。我相信買入本</span><span lang="EN-US" style="font-family: , serif;">ETF</span><span style="font-family: , serif;">中大部分投資者的目的都是收息為主,如</span><span lang="EN-US" style="font-family: , serif;">ETF</span><span style="font-family: , serif;">未能準時派息,我相信對收息型投資者是一個重大影響。</span><span lang="EN-US" style="font-family: , serif;"><o:p></o:p></span></div>
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</span><span style="font-family: , serif;">第三個風險是高息股不等於收息股。一隻理想的收息股應該是有一個穩定的營利和現金流再加上一個適當的派息政策,確保公司能把營利透過股息和股東分享,也同時保留部分營利讓公司可以繼續發展。反觀</span><span lang="EN-US" style="font-family: , serif;">ETF</span><span style="font-family: , serif;">內有不少公司未能符合這條件,例如</span><span style="background: white; color: #333333; font-family: "新細明體" , serif;">中國石油化工股份的</span><span style="font-family: , serif;">營利會和油價有關,油價的上落會大大影響它的營利,雖然中石化派息可高達</span><span lang="EN-US" style="font-family: , serif;">8%</span><span style="font-family: , serif;">,但派息經常不穩定。一間公司的股票派高息可以有很多原因,但如果沒有穩定的營利在後支撐,高息政策是不能維持太久,這就是高息股和收息股的分別。</span><span lang="EN-US" style="font-family: , serif;"><o:p></o:p></span></div>
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</span><span style="font-family: , serif;">總括來說,本</span><span lang="EN-US" style="font-family: , serif;">ETF</span><span style="font-family: , serif;">較為適合想收到高股息的投資者,投資者可以用本</span><span lang="EN-US" style="font-family: , serif;">ETF</span><span style="font-family: , serif;">來分散持股的風險,但要注意的是本</span><span lang="EN-US" style="font-family: , serif;">ETF</span><span style="font-family: , serif;">的買賣差價較大和還沒有分發上年中期和末期股息,投資者可等到本</span><span lang="EN-US" style="font-family: , serif;">ETF</span><span style="font-family: , serif;">再重新開始派息時才考慮買入。</span><span lang="EN-US" style="font-family: , serif;"><o:p></o:p></span></div>
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<span style="color: #333333; font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-bidi-font-family: 新細明體; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;">是第一次到訪的朋友嗎?歡迎你到訪我的小天地,如更想加深小弟我的背景,歡迎你到</span><span lang="EN-US" style="color: #333333; font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-bidi-font-family: Arial; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;"><a href="https://have1111.blogspot.com/2019/03/blog-post.html"><span lang="EN-US">開站了</span></a></span><span style="color: #333333; font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-bidi-font-family: 新細明體; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;">和</span><span lang="EN-US" style="color: #333333; font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-bidi-font-family: Arial; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;"><a href="https://have1111.blogspot.com/2019/03/blog-post_14.html"><span lang="EN-US">談夢想</span></a></span><span style="color: #333333; font-family: "新細明體" , serif; mso-ascii-theme-font: minor-fareast; mso-bidi-font-family: 新細明體; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-fareast;">了解我更多,希望在未來的文章都能吸引你再次到訪。</span><span lang="EN-US" style="font-family: , serif;"><o:p></o:p></span></div>
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晨曦http://www.blogger.com/profile/01331144244005855332noreply@blogger.com2