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交銀國際料明年價值股續跑贏 港股估值平推薦騰訊(00700.HK)及舜宇(02382.HK)等12股
阿思達克 12-08 16:36
交銀國際董事總經理及研究部主管洪灝在明年投資展望網上會議表示,今年6月以來價值型股票開始跑贏,隨著內地經濟持續復甦、消費者信心回升和終端需求改善,相信明年價值股表現會繼續跑贏增長股。該行的投資模型配置了大部分金融、工業、能源、可選消費及大宗商品等傳統行業,並保留部分科技行業配置。

他指,美元進入貶值周期有利中國市場和人民幣計價資產,對上證指數未來十二個月目標區間為2,900點至3,600點,港股雖然沒有目標價,但計及匯率差價及估值折讓,恆指料於24,000點至32,000點波動。

洪灝認為,中港股市整體市場的內部結構變化帶來機會,雖然恆指將更多科技股加入成份股,但估值仍僅15倍,屬非常便宜,相信會因低估值而有所表現。另外,由於港股是開放型及流動性高的市場,料可繼續吸引難以投資美國中資股的資金,估計明年將會有更多資金流入本港。

他提到,美國近期加強對中國的制裁,導致市場反應甚大,不過有關措施多為行政命令,拜登上場後亦可快速取消,但由於中美處競爭格局,不期望美國新政府對華政策會有大改變。他又稱不需擔心美國對香港銀行等進行制裁,因有關措施對美國在港利益影響更大,估計美國的行動只是現任政府為拜登設置障礙,認為市場因此出現的波動反而是建倉機會。

交銀國際又提供12隻明年行業首選股,包括騰訊(00700.HK)、舜宇光學(02382.HK)、百威亞太(01876.HK)、富力地產(02777.HK)、藥明生物(02269.HK)、招商銀行(03968.HK)、中金公司(03908.HK)、中國平安(02318.HK)、新奧能源(02688.HK)、福萊特玻璃(06865.HK)、吉利汽車(00175.HK)及國泰航空(00293.HK)。

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