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《大行报告》恒指改革 摩通料6月起至明年中每次季检六股染蓝
阿思达克 03-02 14:51
摩通发表的报告指,恒指公司公布有关恒生指数之优化细节,当中包括明年中将恒指成份股增至80只,最终目标则增至100只,该行指出在谘询文件中恒指公司向投资者询问将成份股增至65-80只的意见,不过最终决定采取较进取的做法,将上限升至100只,但认为恒指成份股很有可能维持在80只一段时间,而非在明年中以後继续扩张至100只。

恒指公司指成份股将自七个行业中选取,该行则指恒指公司做法与谘询文件比较有轻微调整,当中资讯科技独立为一个行业,而非与工业合并,另一方面工业则与能源、原材料及综合企业合为一个行业,公用事业及电讯业亦组成一个新的行业,因此最终出现七个行业,认为有关改变更重视资讯科技、公用事业及电讯股。

另外恒指公司缩短上市历史要求至三个月,摩通认为新规有助改善恒指的市场代表性、减低复杂性,而三个月的上市要求亦有助投资者管理特别是第二上市的IPO。

至於将所有股份权重上限定在8%,摩通认为来港第二上市的企业如阿里(09988.HK)及同股不同权公司如美团(03690.HK)等现时权重上限为5%,估计这类型股份将受惠今次改变,不过现时权重上限为10%的股份如腾讯(00700.HK)受权重下降困扰。

该行指出到3月12日恒指将有55只成份股,考虑到到未来五次季检或有股份被剔除,料每季将有6只股份被纳入、1只股份被剔出,意味将合共有30只股份被纳入、5只股份被剔出。该行的分析认为民企股将最为受惠,料将有24只股份被纳入,权重将增11.4%,而红筹则料会有两只被纳入,权重跌0.1%,而本地股则料有1只被剔出,权重料跌8.2%,而H股的数量则维持不变,惟权重将跌3.2%。

按行业划分,该行料IT将是最大受益者,料将有6只股份被纳入,权重升6.6%,而金融股则最受累,将有1只被剔除、权重跌8.8%。(el/u) ~

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