大和:A股日均成交量活躍 利好中資劵商股
大和發表研究報吿指,中國股市每日錄活躍成交量,財富管理及衍生性產品的業務擴張,將提高中資劵商股的回報,雖然去年劵商板塊受減值影響,但認為相關影響已經過去,今年證劵商已作充足撥備,上調中信建投(6066.HK)及華泰(6886.HK)目標價分別5.9%及3.2%。
大和報吿指出,今年首五個月,A股日均成交額按年上升17.8%至9620億元人民幣,比2019年大增72%。
大和表示,大部分中資劵商股的股價正處於熊市水平,但盈利增長實有強勁動力,預期今年行業的股本回報率將上升1.6個百分點至8.4%。現時估值已反映IPO審批放慢以及改革的負面影響。

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