《大行报告》大摩下调港交所(00388.HK)目标价至580元 评级「增持」
摩根士丹利发表报告表示,政府计划调高股票印花税税率,股票印花税自0.1%上调至0.13%,料将提高港股总交易成本约15%,但认为不会改变长期波幅性呈结构上升的轨道。大摩称在市场对紧缩政策预期上升的情况下,政策对市场情绪的影响更为重要,但难以量化。
报告补充,上调印花税可能会进一步阻止某些量化基金交易(占港股交易额的很小部分)和一些投机交易,故该行下调港交所(00388.HK)今明两年盈利预测5%,目标价相应由600元降3%至580元,维持「增持」评级。由於美国利率上升及中国流动性收紧预期,港交所股价短期料趋波动。
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