植耀辉: 港股6月开局不俗 石药(01093.HK)绩优候低可吸
耀才证券研究部总监植耀辉称，港股踏入6月份首个交易日继续有好表现，恒指昨(6月1日)上升316点或1.08%，收报29,468点，成交金额接近1,570亿元。美团(03690.HK)及阿里巴巴(09988.HK)成为升市最大功臣，分别为恒指贡献92点及55点，腾讯(00700.HK)亦有不俗表现，上升1.5%，为恒指贡献39点。至於近期持续高位整固之申洲(02313.HK)则为最大跌幅蓝筹，下跌近4%，收报192.5元。
另外，不少股份已公布首季业绩，亦可跟大家分享对部分股份之看法。当中较有惊喜应是石药(01093.HK)，撇除出售附属公司收益，溢利大升63.3%，但最值得关注的反而是集团在通告中披露了带量采购对药种之影响。过去投资者一直担心药物大幅降价对药企会有当大冲击，但石药似乎不太受影响。就以恩必普为例，集团提到「降价後产品的可及性及竞争力的大幅提高，销量呈现快速增长趋势」，结果恩必普收入反而增加了8.7%，另外两只入围之药物克艾力及恩存亦分别上升8.4%及19.9%。在成功「以量补价」下，石药业绩理想之余股价亦有好表现。预期在相关因素带动下，股价要突破2018年5月高位，亦即13.5元以上水平不难，可候回调吸纳作中长线持有。
至於较失望之业绩股则暂时应该是阿里健康(00241.HK)。由於该股中期业绩时成功亏转盈，故投资者对其业绩有一定憧憬，而全年业绩亦确能延续此势头，经调整後利润增长接近2倍，至6.3亿元人民币。不过如果相比上半年之4.36亿元人民币，则下半年盈利其实环比出现倒退。另外，截至9月底止上半年天猫医药平台年度活跃消费者超过2.5亿户，但截至今年3月底止则为2.8亿，似乎增幅亦有放慢迹象。加上本身阿里健康估值不低，只要业绩稍有差池，股价大幅波动难免。虽然股价较高位调整已近35%，但暂不建议大家捞底。
(笔者为证监会持牌人，持有腾讯股份)
******************
市场关注中美两方会谈
耀才研究部称，隔晚(6月1日)美股三大指数个别发展，整体变动不大，市场续关注本周五(4日)公布的非农就业数据，而国际油价造好，石油股表现领涨道指。港股ADR个别发展，「黑期」今早亦缺乏明确方向，料指数早段不会有太大变动，留意A股开市後的整体表现。市场关注中美两方会谈，国家副总理刘鹤与美国财长举行视象对话，料相关消息将会左右市况短期後市去向。此外，留意一众科技股短期後市表现，科指昨日成功重越50天线之上，是自3月3日跌穿此关以来首次，技术上有回稳迹象，科技股能否回稳将很大可能直接左右後市去向。
恒指走势方面，指数亦於昨日成功突破4月29日高位29,405点之阻力，指数目前正贴近保力通道顶部之前，只要後市未有出现显着回落，继续企稳29,000点关口之上，而随着通道扩阔，恒指有望於6月上旬向上试高位，目标该有望上试30,000点心理关口。
(笔者为证监会持牌人)~
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.
