植耀輝: 新經濟股限制恆指升幅 美團(03690.HK)中性看法不變
耀才證券研究部總監植耀輝稱，港股昨日(19日)表現不俗，全日計恆指上升136點，收報29,106點，成交金額亦增至1,501.6億元。港股能有理想表現，大部分原因似乎是與A股有關，皆因A股走勢有所轉強，特別是上綜指又再次突破3,450點支持，所以如短期A股繼續造好，相信港股或有機會有所突破。只是科技股走勢仍然較遜色，昨日ATM三者均逆市下跌，反映大市投資氣氛仍有所保留。當然三者各有其消息，不過如A股仍再有突破，則港股目標有望進一步上移，預期暫於28,500至29,500點水平上落。
當中亦可談談美團(03690.HK)。公司於昨日收市後宣布以先舊後新配股，以及發行可換股債券，合共集資近一百億美元，集資所得用於投入科技創新及用於對無人配送等科技研發。筆者相信由於美團仍將加大發展社區團購等新業務之上，對資金渴求仍殷切，加上早前已有不少相關消息，故集資亦屬預期之內。問題只是燒錢進度如何，同時新業務何時扭虧仍屬未知之數，加上未來尚有政策風險，所以對集團前景看法仍傾向中性，即使配股消息終落實消除一不確定性，但現階段仍不建議大家入市矣!
(筆者為證監會持牌人，並未持有相關股份)
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全球疫情反覆 留意A股短期後市表現
耀才研究部稱，隔晚(19日)美股下跌，全球疫情反覆限制大市表現，TESLA(TSLA.US)電動車在美國德州發生意外，股價跌逾3%，亦拖累納指跌幅接近1%。港股ADR偏軟，「黑期」今早亦跌近200點，恆指早段很大可能跟隨外圍股市低走，而A股能否維持昨日強勢將是關鍵。相信今日(20日)市場焦點將會投放在美團(03690.HK)身上，公司以先舊後新方式配股集資，《路透》報道，每股配售價以273.8元定價，接近配售價範圍上限，以昨日收市價289.2元計算折讓約半成。另外，公司亦會發行總值30億美元可換股債券，預計合共集資近100億美元，消息指集資所得，將會投入科技創新，用作無人配送等科技研發。由於市場早已預料美團會作出上述動作，料股價於短期後市影響不大，但畢竟發新股及可換股債亦將會攤薄效應，留意大行對此評價，而估計300元關口將會成為短期後市首個阻力位。
恆指昨日成功重越29,000點關口，而日中一度突破50天線，短期後市較關鍵的是成交金額能否持續改善，及指數能否於短期後市正式突破50天線。只要恆指於短期後市繼續企穩10天線之上，形態該有利指數於4月份續創月內新高，而目標可先上望3月18日高位29,596點。
(筆者為證監會持牌人)~
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