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《大行報告》匯豐研究料港上半年樓價跌5%至10% 看好長實、新世界等五股
阿思達克 03-17 14:39
匯豐研究發表報告,指出聯儲局繼3月3日減息50點子後,再於3月15日進一步減息100點子,並推出7,000億美元的量寬計劃。而人民銀行、英國央行、日本央行、瑞士央行及歐洲央行都緊隨其後釋放流動性。該行認為,這可以減輕全球疫情帶來的部分經濟風險。但考慮到香港經濟的多項不利因素,房地產市場的穩定或需要一些時間,仍預期在今年下半年企穩之前,上半年的樓價有5%至10%的調整,相信部分潛在買家或會推遲買樓的決定。

該行分析了過去20年來聯儲局減息對地產股股價的影響。在2001年至2020年間共有7次減息,而地產股的價格並不是每次都跑贏大市,相信股價的表現更取決於樓價的穩定性。該行認為,在短期內於中小型住宅市場有更多覆蓋的發展商會受益更多,因為在利率下降的環境下,買家對息口變化會更為敏感,而這些股份包括新鴻基地產(00016.HK)、新世界發展(00017.HK)及長實集團(01113.HK)。

該行看好具多元收入來源的公司,能在具挑戰性市場中繼續增長,偏好寫字樓多於零售商舖及地產發展,認為目前地產板塊的估值具吸引力,但缺乏股價催化劑。看好太古地產(01972.HK)、恆隆地產(00101.HK)、長實集團、新世界發展及香港置地。

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