植耀輝: 港股6月開局不俗 石藥(01093.HK)績優候低可吸
耀才證券研究部總監植耀輝稱，港股踏入6月份首個交易日繼續有好表現，恆指昨(6月1日)上升316點或1.08%，收報29,468點，成交金額接近1,570億元。美團(03690.HK)及阿里巴巴(09988.HK)成為升市最大功臣，分別為恆指貢獻92點及55點，騰訊(00700.HK)亦有不俗表現，上升1.5%，為恆指貢獻39點。至於近期持續高位整固之申洲(02313.HK)則為最大跌幅藍籌，下跌近4%，收報192.5元。
另外，不少股份已公布首季業績，亦可跟大家分享對部分股份之看法。當中較有驚喜應是石藥(01093.HK)，撇除出售附屬公司收益，溢利大升63.3%，但最值得關注的反而是集團在通告中披露了帶量採購對藥種之影響。過去投資者一直擔心藥物大幅降價對藥企會有當大衝擊，但石藥似乎不太受影響。就以恩必普為例，集團提到「降價後產品的可及性及競爭力的大幅提高，銷量呈現快速增長趨勢」，結果恩必普收入反而增加了8.7%，另外兩隻入圍之藥物克艾力及恩存亦分別上升8.4%及19.9%。在成功「以量補價」下，石藥業績理想之餘股價亦有好表現。預期在相關因素帶動下，股價要突破2018年5月高位，亦即13.5元以上水平不難，可候回調吸納作中長線持有。
至於較失望之業績股則暫時應該是阿里健康(00241.HK)。由於該股中期業績時成功虧轉盈，故投資者對其業績有一定憧憬，而全年業績亦確能延續此勢頭，經調整後利潤增長接近2倍，至6.3億元人民幣。不過如果相比上半年之4.36億元人民幣，則下半年盈利其實環比出現倒退。另外，截至9月底止上半年天貓醫藥平台年度活躍消費者超過2.5億戶，但截至今年3月底止則為2.8億，似乎增幅亦有放慢跡象。加上本身阿里健康估值不低，只要業績稍有差池，股價大幅波動難免。雖然股價較高位調整已近35%，但暫不建議大家撈底。
(筆者為證監會持牌人，持有騰訊股份)
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市場關注中美兩方會談
耀才研究部稱，隔晚(6月1日)美股三大指數個別發展，整體變動不大，市場續關注本周五(4日)公布的非農就業數據，而國際油價造好，石油股表現領漲道指。港股ADR個別發展，「黑期」今早亦缺乏明確方向，料指數早段不會有太大變動，留意A股開市後的整體表現。市場關注中美兩方會談，國家副總理劉鶴與美國財長舉行視象對話，料相關消息將會左右市況短期後市去向。此外，留意一眾科技股短期後市表現，科指昨日成功重越50天線之上，是自3月3日跌穿此關以來首次，技術上有回穩跡象，科技股能否回穩將很大可能直接左右後市去向。
恆指走勢方面，指數亦於昨日成功突破4月29日高位29,405點之阻力，指數目前正貼近保力通道頂部之前，只要後市未有出現顯著回落，繼續企穩29,000點關口之上，而隨著通道擴闊，恆指有望於6月上旬向上試高位，目標該有望上試30,000點心理關口。
(筆者為證監會持牌人)~
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