汇丰环球投资管理看好今年中国经济前景 料北水持续流入港股
汇丰环球投资管理中国及香港股票部主管沈昱表示,对中国今年经济前景乐观,料中国会继续引领全球经济复苏,宏观环境改善及人民币强势预期会有利企业盈利反弹。虽然信贷、货币及财政政策将开始回复较中性及正常化,但目前未见内地有显着收紧政策的讯号。
沈昱指,中国今年开始「十四五」规划,将注重高质素、更为平衡及可持续的增长,估计在疫情後复苏的相关短期主题过去後,中长期投资主题会以内循环、数码化及绿色经济为主,该行相关中国股票基金亦以资讯科技、非必需消费及健康护理等三大主题相关行业的比重较高。
对於近期北水持续流入港股,沈昱称北水自去年下半年已开始增加南下投资港股,由於有不少新建基金亦有配置港股持仓的可能,估计北水南下趋势仍会持续。她认为,港股相对A股过去两年的增长比较少,且有独特行业股份选择,加上估值有一定吸引力,在中港市场长期进一步融合下,料资金会灵活地於两地市场调配。
此外,她预期港股今年企业盈利增长约15%至20%,在没有估值重评下投资者回报亦料处相若水平。她又相信,中概股今年会继续来港上市,认为对香港市场活跃度有帮助,亦令投资者有更多选择,若日後中概股获纳入港股通,也有助提高港股流动性。
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