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植耀辉: 联储减息美股靠稳 莎莎(00178.HK)盈警未宜捞底
阿思达克 09-19 10:48

耀才证券研究部总监植耀辉称,联储局在议息会议後宣布减息0.25厘,合乎市场预期。根据利率点阵图显示,10名委员认为2019年不会再减息,7名委员则认为需再减息一次;另外,点阵图显示2020年预期不会减息,2021年和2022年各减息一次。不过联储局主席鲍威尔在新闻发布会上表示,若经济出现下行风险,有可能需要更多减息,以及扩大资产负债表规模。

美股三大指数隔晚(18日)则个别发展,道指在公布议息结果後一度大跌逾200点,但鲍威尔言论「偏鸽」令大市出现反弹,最终道指上升36点或0.15,收报27,147点,纳指则跌8点或0.1%,收报8,177点,标普500指数大致持平,上升1点,收报3,006点。

至於港股,昨日走势呈窄幅上落,全日波幅亦只得约160点,成交亦回落至只得595亿元。由於市场观望气氛浓厚,投资者亦未敢轻言妄动。当然,隔晚联储局议息结果合乎市场预期,不过笔者相信刺激作用有限,大家更关注可能是在「十一」国庆前会否有利好措施出台。预期港股暂会於26,000至27,000点水平徘徊。

至於股份方面,值得谈谈莎莎国际(00178.HK)。该公司发盈警,预期业绩表现将欠理想。事实上,集团指截至8月31日止首五个月期间录得亏损,而9月首十四日销售情况亦十分疲弱,意味上半年业绩将「见红」,同时集团亦表示会透过不同措施去应对当前挑战,包括与业主商讨减租事宜,积极减省人工支出、销售及行政等营运开支等。

事实上,业绩表现差已是预期之中,股价年初至今亦已累跌超过四成,惟基於前景依然不明朗,笔者暂亦不建议大家现水平博反弹。

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