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黄国英:中港股市料仍受压 续留意半导体上游及奢侈品等主题
阿思达克 05-25 15:44
丰盛金融资产管理董事黄国英出席记者会时表示,旗下基金成立十年,连同派息增长逾200%,客户亦增加至700多人,他透露基金曾经在Tesla(TSLA.US)於30多美元时购入,但在180元便沽出,之後虽有再入市,惟已错过最大升势。他又指随着市场千禧世代投资者增加,市场暴升机会亦增加,但相关升势难持续,所以以组合来计算回报相对较以前低。

他指出现时基金中港投资分布约50%,其余为环球投资,包括不足30%的美股,而欧洲及日本股票各占10%。他预期受政策影响内地股市未来或跑输,假如内地要控制大宗商品价格或会令中港股票表现较弱,他解释由於未来愿意加价的企业或更少,在原材料成本较重的情况下如未能转嫁、利润就会受压,不过假如压抑原材料价格,企业在获取原材料方面亦会面对困难,所以整体来看走势均会较差。

他认为现时是「选股不选市」的情况,相信美国市场仍会继续跑赢,看好两大主题,一方面是半导体上游设备供应商如ASML(ASML.US)等,他指出台积电(TSM.US)早前公布超大型1,000亿美元的三年资本开支计划,而AMD(AMD.US)亦推回购计划,相信芯片短缺情况将持续,故基金十大持仓亦包括ASML,相信除受惠半导体势头外亦有助与通胀对冲。

他透露另一主题是奢侈品板块,认为市场对其加价的接受程度亦较高,而奢侈品消费亦强劲。面对通胀来临,他认为美国市场方面比较上会分散至科技成份较少的股份,例如是宠物相关股、金融服务股如MSCI(MSCI.US)、穆迪(MCO.US)等或可成长远赢家。另外针对经济重启概念,他认为零售股亦有机遇,例如是GAP(GPS.US)最近电商表现亦不错,看好其运动品牌表现,而决定分拆Victoria's Secret 的L Brands(LB.US)亦可留意。

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