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《大行報告》大摩:阿里巴巴、美團及小米若「染藍」可升恆指估值
阿思達克 05-20 10:28
就恆指公司本周一(18日)宣布,有條件納入同股不同權及第二上市股份,個別成份股比重上限設定為5%,8月份指數檢討起生效。摩根士丹利發表報告估計,阿里巴巴(09988.HK)、美團點評(03690.HK)及小米集團(01810.HK)於今年9月將有機會被納入恆指及國指,料會引來被動資金約29億美元(約224.8億港元)流入,料將可提升恆指估值。

該行指,重新審視該行模擬指數權重分佈,料會平衡金融行業的權重,將相關重由48%降至43%,提升非必需消費類股(consumer discretionary)權重由4.3%升至14%,料資訊科技行業的權重將會倍升至2.8%,料阿里巴巴、美團點評及小米可佔恆指權重各5%、5%及2%。

大摩料,若阿里巴巴、美團點評及小米(01810.HK)未來獲納入恆指及國指,將可引來分別12億美元(約93億港元)、12億美元(約93億港元)、及5億美元(約38.8億港元)被動資金流入,即三股若「染藍」可引來被動資金流入共29億美元(約224.8億港元),料騰訊(00700.HK)會有4億美元(約31億港元)被動資金流出。

該行亦表示,若納入上述同股不同權及第二上市股份,可提升恆指的估值水平,相當於恆指未來12個月預測市盈率獲0.8倍額外提振。

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