植耀辉: 美股反弹道指升千点 港股继续区间拉锯
耀才证券研究部总监植耀辉称,美股隔晚(4日)又再大幅抽升,因前副总统拜登於美国民主党总统初选关键战之「超级星期二」上报捷,利好市场气氛。最终道指上升1,173点或4.53%,收报27,090点,标普500指数及纳指亦分别上升4.2%及3.85%。
港股昨日大部分时间於26,300点附近争持,走势未见明朗;而近期港股曾多次下试26,000点水平後均见不俗支持,相信短期会继於26,000至26,500点水平上落。
不过,基於仍关注疫情所带来之潜在影响,恐怕大市仍有进一步下调之压力,预期後市仍有相当大机会,失守26,000点水平。
特别要谈谈金融股行情。汇控(00005.HK)、中银香港(02388.HK)及恒生(00011.HK)为恒指成份股中表现最差三只股份,情况颇为罕见。不过面对当前状况,银行业前景无疑面对相当大挑战。事实上,笔者经常强调银行作为百业之母,经济一旦转差,其业务将首当其冲受到影响,投资者同时亦会关注资产质素恶化情况。此外,在预期联储局或进一步减息下,净息差料将继续收窄,而债息急跌亦对银行回报产生负面影响。可以说银行经营状况及前景相当不明朗,股价恐怕仍会持续寻底。
当然,汇控现时高达7.7厘股息率相当吸引,只是股价未来难以看好,跌破50元机会仍十分高,何况虽然息率吸引,但过去一年汇控股价(未计股息回报)累跌近15%,所以投资者还是不要太沉迷「七厘息」的想法矣!
(笔者为证监会持牌人,并未持有相关股份)
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