貝萊德貿易戰拖累看淡硬件行業下半年表現
貝萊德環球新興市場股票團隊主管施安祖出席記者會時表示,近期受中美貿易戰及「去全球化」等影響,認為市場將進入低增長環境,而企業盈利增長亦會減慢,相關因素將限制市場上行空間。但他相信面對貿易戰、關稅及供應鏈轉移等負面影響,內地會透過財政、貨幣政策支撐,由於內地經濟規模已較十年前倍增,故支持力度亦相應較大。
他認為科技硬件行業下半年將會處於下行,認為板塊受到貿易戰衝擊,而早前企業累積庫存等亦會帶來壓力,故對硬件行業較憂慮。他續指,留意到現時硬件供應鏈轉移加快,認為企業不再等待政策轉向,而是選擇轉向需求大、成本低的市場包括越南等,他認為相關影響短期內難解決,而下一波產品升級或有助刺激行業新需求,但現階段仍較難判斷外圍環境。
施安祖較看好印度及印尼市場,另外亦看好醫療健康、教育等板塊,料相關行業在低增長環境中較有潛力。他又指,該行過往對A股看法正面,而相關投資在資產組合中亦有不錯表現,但近期考慮到估值提升及低增長展望等,有減少相關投資。
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