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《大行报告》花旗:资金流入利好港交所(00388.HK) 本地银行净息差面对压力
阿思达克 06-12 14:02
花旗发表研究报告,指香港银行股在更大的政治风险、国内及宏观经济疫弱,以及前所未有的全球疫情之下面临一些动荡,随着市场出现更多企稳的迹象,以及面向全球金融有更广泛的价值转向,投资者接下来似乎会关注新一轮量化宽松及2020财年後的盈利表现。

然而,该行关注到即使有量化宽松,在贷存比更高、宏观经济疲软延长信贷成本压力,以及明显的净息差压力,香港银行业或未能维持短暂的反弹,预期2021财年的盈利改善能力有限。首选渣打集团(02888.HK)及东亚银行(00023.HK),均给予「买入」投资评级,其次是汇丰控股(00005.HK)及中银香港(02388.HK),均给予「中性」评级,然後是恒生银行(00011.HK),投资评级为「沽售」。

同时,该行看好港交所(00388.HK),认为虽然未看到大量资金流入香港,但中国科技股来港二次上市或吸引资金流入。从基本面上来看,该行认为在低息环境下,港交所会较银行股有更佳的定位,并具有长期强劲的结构性增长潜力,重申「买入」投资评级,目标价333元。

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