盈選報告 | 年度維度上港股表現或優於A股，關注啤酒、航運股
市場策略
▍平安證券認爲港股近期應關注能源板塊，着眼長期逢低佈局互聯網板塊。儘管港股中的工業製造業、原材料等大多數板塊處於偏高水平，但作爲核心資產的互聯網板塊，在前期大幅下行後並未收復失地，這也與互聯網監管的大環境有關。但作爲港股最受關注的核心資產，互聯網板塊的成長空間與確定性毋庸置疑，相較消費、製造業等核心資產而言，互聯網板塊投資的高性價比是比較明顯的，近期的低迷正是着眼長期進行逢低佈局的機會。而作爲近期確定性較高的能源板塊，則是中短期港股佈局的優選。
▍光大證券表示，繼續看好全年港股市場表現，其年度維度上表現或優於A股市場。經濟與企業盈利修復是支撐港股向好的基礎，同時資金面上南下資金和海外資金也有望繼續流入港股市場。建議重點關注：疫情受損嚴重的低估值板塊，前期盈利受損較爲嚴重的行業如汽車、博彩、航空的需求有望逐漸恢復；以及自下而上配置稀缺的科技、消費、醫藥類成長個股。
熱點機會
▍啤酒板塊：
天風證券表示，啤酒行業邏輯清晰，量增壓力不改升級節奏逐步兌現。隨着旺季將至及兩大體育賽事加持，各啤酒企業產品中高端佈局逐步完善，在渠道及營銷合力助推下，結構升級帶來的價增及利潤彈性釋放將繼續成爲啤酒行業上行核心驅動力。疊加供給端龍頭華潤啤酒和青島啤酒等對結構和利潤的訴求提升，行業效率持續優化，啤酒行業已經進入利潤釋放加速期。
▍航運港口板塊：
國投安信期貨指出，短期來看，勞動力緊缺加上港口容量限制，歐美港口的集裝箱嚴重過剩，海外港口擁堵持續仍然無法解決集裝箱的結構性問題。歐美需求即將進入旺季，國內出口訂單或繼續增加，集運供需僵持不下，預計未來一段時間集裝箱運價指數偏強震盪。
招商證券認爲，集裝箱行業景氣度將繼續強勢上行，集裝箱行業與集運景氣同頻。集裝箱、船舶行業的景氣回升與美元週期、航運週期、集裝箱更新、船舶週期等因素有關，是長週期復甦。此次行業是2-3年的復甦，並不是疫情短期影響。
▍石油板塊：
天風證券表示，當下石油市場的基本面上，全球原油庫存已經回到正常水平。Q3 原油需求預期復甦。預計接下來一段時間，隨着美國和歐洲疫苗注射推進和出行的修復，尤其是6-8 月份美國出行旺季的到來，原油需求持續改善的確定性比較強。
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