贝莱德贸易战拖累看淡硬件行业下半年表现
贝莱德环球新兴市场股票团队主管施安祖出席记者会时表示,近期受中美贸易战及「去全球化」等影响,认为市场将进入低增长环境,而企业盈利增长亦会减慢,相关因素将限制市场上行空间。但他相信面对贸易战、关税及供应链转移等负面影响,内地会透过财政、货币政策支撑,由於内地经济规模已较十年前倍增,故支持力度亦相应较大。
他认为科技硬件行业下半年将会处於下行,认为板块受到贸易战冲击,而早前企业累积库存等亦会带来压力,故对硬件行业较忧虑。他续指,留意到现时硬件供应链转移加快,认为企业不再等待政策转向,而是选择转向需求大、成本低的市场包括越南等,他认为相关影响短期内难解决,而下一波产品升级或有助刺激行业新需求,但现阶段仍较难判断外围环境。
施安祖较看好印度及印尼市场,另外亦看好医疗健康、教育等板块,料相关行业在低增长环境中较有潜力。他又指,该行过往对A股看法正面,而相关投资在资产组合中亦有不错表现,但近期考虑到估值提升及低增长展望等,有减少相关投资。
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