大和:料疫情對內地券商龍頭直接影響有限 偏好中信及國泰君安
武漢新型冠狀病毒持續,大和發表研究報告指,疫情對中國證券業的龍頭企業直接影響有限,對行業看法正面。該行繼續偏好中信證券(6030.HK)及國泰君安(2611.HK),指出它們是市場短期波動中最具彈性的公司,而在寬鬆貨幣政策及潛在市場整合將帶來最大好處。
又指,疫情對證券公司的投資收入有影響,考慮到短期股市波動,股票的回購風險因而增加,同時亦會出現市場整合。長遠而言,一些頂級的企業可能會從市場整合中受惠,它們亦處於更好的流動性條件下,並擁有強大的股東支持。當出現任何危機時,這些頂級企業都有能力鞏固市場。
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