植耀輝: 外圍焦點美就業數據 美團(03690.HK)巨虧前景具挑戰
耀才證券研究部總監植耀輝稱，美股上周五表現不俗，三大指數均錄得升幅，全周計道指及標普500指數分別累升0.9%及1.2%，納指則累升2.1%。展望本周，美國將公布5月就業數據以及ISM製造業PMI數據表現。
至於港股，上周表現相當不俗，全周計累升399點或1.4%，為連續第二個星期上升，兩周計升幅亦近1,100點。當然，根據以往統計，6月份大市表現預期將相當反覆，建議投資者對後市宜抱一定戒心。預期大市初步上望目標仍為29,300至29,400點。
亦要談談美團(03690.HK)業績表現。截至3月底止收入按年大升120.9%至370.16億元人民幣(下同)，當中餐飲外賣以及到店、酒店及旅遊業務之經營溢利均有可觀表現，前者成功虧轉盈，後者則大升超過3倍，不過由於新業務錄得巨額虧損，令經營虧損大增1.8倍至47.67億元，經調整後虧損淨額亦由去年同期之2.16億元，急增至38.92億元。
當然，由於美團在較早時間，即去年全年業績時已透露未來因加大新業務投入而可能未來數個季度出現巨虧，故筆者對此並不感到太過意外，問題只是巨額虧損何時告一段落則為關鍵。不過，觀乎去年第四季及今年第一季的情況，新業務之經營虧損由60億元增至80億元來看，反映「燒錢」仍未見頂，未來數季能扭虧的機會亦不大。加上尚有行業監管及反壟斷措施等因素，恐怕不明朗因素仍相當多，故筆者續看淡其股價前景。
(筆者為證監會持牌人，並未持有相關股份)
********************
本周留意美國多項經濟數據
耀才研究部稱，美股上周五(28日)微升，道指及標指連升三日，納指則升至三個星期最高。本周有多項重磅事件值得留意，首先美國將公佈PMI及兩個非農就業數據，其次為首領失業救濟金人數，以及聯儲局主席鮑威爾將發表講話，到底就業市場能否持續改善，將對聯儲局未來的政策取態將有重要影響，始終過去一季市場已經見到通脹數據有較強的上升。內地今早公佈5月官方製造業和服務業PMI數據，分別為51及55.2，跟市場預測的51.1及55.1相差不大。美團(03690.HK)第一季收入勝預期，三項業務按年均升逾1倍，但Non-GAAP經調整虧損38.92億元人民幣(下同)，去年同期虧損2.16億元，主要由於新業務經營虧損按年擴大近5倍所致。
港股上周五急挫，短線阻力仍為保力加通道頂部29,200點水平，不過10天線持續升穿多條較長移動平均線，目前仍有足夠買入動能，只要恆指於短期續企穩29,000點關口之上，後市不宜胡亂看淡。
(筆者為證監會持牌人)~
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app！
Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.
