貝萊德:龍頭互聯網企業監管週期或持續數年
貝萊德環球新興市場股票基金經理劉雅俊出席記者會時表示,很多投資者均關注科技股是否已調整至合理水平,但該行認爲今輪的監管週期有機會長達數年,她舉例指阿裏(09988.HK)被要求連續三年向市場監管總局提交自查合規報告,反映監管的影響將持續。另一方面她認爲在競爭層面電商企業等亦正尋找下一個增長引擎,意味企業需投入於資產及基建,料將拖累利潤及盈利表現。不過該行在互聯網行業仍看到機遇,現時會聚焦於中小型企業,一方面反壟斷風險較細,同時增長勢頭亦較強,她舉例指可留意短視頻及新世代社交網絡等。
她指出,內地訂立2060年「碳中和」目標,認爲長遠而言考慮ESG成本等,大宗商品價格整體將升,不過由於商品價格向上拖累製造業等的盈利能力,故內地現時希望阻止投機行爲,令市場回覆正常供應。她指出由於中國對國際商品控制較少,所以認爲可留意國際商品如能源等的機遇,同時亦可留意受惠電動車需求提升的商品。
她指出內地推出「三孩」政策主要因爲出生率下跌,同時政府亦有推出針對樓價、教育等減輕育兒壓力的政策,雖即時未必見效,但長遠而言有助提升生育率,隨着內地中產增加,未來中產消費力強勁的影響亦值得關注。(el/u) ~
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