植耀辉:恒指反弹惟势未改中移动(00941.HK)价残仍未宜吸纳
耀才证券研究部总监植耀辉称,港股连续第二日出现反弹,不过反弹力度不强,某程度上反映整体市场气氛未见太大改善,始终围绕投资市场的因素仍多,特别是三大因素─来自中美贸易的挑战、人民币汇价表现以至本地社会运动事件,均会对港股带来冲击。事实上,笔者相信短期内三大因素难有突破,一旦形势进一步恶化,港股回落机会仍高,暂仍以25,500点为短期支持位。
股份方面,中移动(00941.HK)上半年按新会计准则计EBITDA增长3.6%,同口径比则下跌4.6%;至於股东应占利润方面则下跌14.6%。中移动业绩欠理想属预期之内,然而笔者想指出的是,在「提速降价」的大前题下,三大电讯营运商股价近年每况愈下,相信在发展5G初期,情况亦难改变,亦因此不宜吸纳相关股份。不过待5G发展至成熟阶段,相信会有较多增值服务收入,届时才可能会有较理想表现。
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