《大行报告》野村:阿里(09988.HK)接受反垄断调查 料股价短期受压
野村发表研究报告指,阿里(09988.HK)近日因「二选一」等涉嫌垄断行为,被中国市场监管总局依法立案调查,预期阿里股价可能在短期内受压。
报告指,中国当局自11月起提出互联网行业垄断行为的关注,并发有互联网平台垄断指南草案,加上12月召开的中央经济工作会议亦提到将反垄断监管列为主要任务之一,预期当局近日的言论及行为,将为监管机构来年对中国互联网公司进行更严格审查奠定基础。
该行表示,长久以来中国互联网产业的监管一直集中在互联网平台上发布的内容,与发达国家相比在垄断及用户数据保护等方面的监管相对宽松。但野村仍然相信,中国当局将努力在监管与企业增长之间取得平衡,因对龙头企业过度严格监管,可能影响其营运,最终导致整个互联网行业出现动荡,又指《人民日报》在上周四(24日)发表的文章中强调当局对互联网平台的支持不变,反映当局意识到行动对互联网行业投资情绪产生影响。
野村表示,若「二选一」被禁止,阿里的两个主要竞争对手京东(09618.HK)及并多多(PDD.US)将因此受惠,但仍看好阿里的非电商业务,特别是云业务具有巨大的未开发潜力,有可能成为新增长动力,维持「买入」评级及美股目标价361美元。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.