《瑞银窝轮》 如憧憬降准 留意建行CALL21005
中美落实10月份会於华盛顿进行面对面贸易会谈，虽然较原定的9月有所推迟，但总算为8月以来贸易纠纷升级的不明朗因素带来舒缓，A股上周中段有所回升，上证更曾突3000点的关口，是7月初失守以来近2个月首次重见这个位置。基本上A股已经完全收复8月中美互加关税以来的失地，反观恒指走势则大幅落後。
近日市场憧憬央行9月份降准，刺激之前走势落後的内银股走势转好，建行H股(0939)重上6港元的心理关口。副总理刘鹤在周四(5日)召开的全国金融形势通报和工作经验交流电视电话会议中表示，要加大逆周期调节力度，疏通货币政策传导机制，加强金融与财政政策配合，加大了市场对央行降准的憧憬。
目前建行的股息率达5.7厘，低估值本身已可为股价提供一定抗跌力，但内银股股价一直缺乏向上的催化剂。配合目前A股走势较强，以及降准的憧憬，投资者短线或可再次留意内银股表现：
建行(0939)认购21005，行使价6.49港元，19年11月到期，有效杠杆约17倍。
工行(1398)认购23879，行使价5.39港元，20年1月到期，有效杠杆约10倍。
中行(3988)认购24078，行使价3.3港元，20年2月到期，有效杠杆约8.1倍。
招行(3968)认购28910，行使价43.88港元，19年10月到期，有效杠杆约19倍。
更多窝轮牛熊资讯：瑞银证网站: www.ubs.com/hkwarrants周国威董事
瑞银亚洲股票衍生产品销售部
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