You are browsing the Hong Kong website, Regulated by Hong Kong SFC (CE number: BJA907). Investment is risky and you must be cautious when entering the market.
《大行报告》美银证券:市场憧憬内房政策放松升温 但短期难全面扭转
美银证券发表研究报告指出,市场憧憬内房政策宽松升温,包括有报道指部分发展商或会发行银行间债券,显示潜在很大的融资渠道;国企发展商在「三条红线」融资规则下计算杠杆指标时,要求监管机构免除并购中承担的债务,暗示他们可从陷入困境的发展商手中购买资产;有声音估计监管机构已要求银行清理五个多月前提交的积压抵押贷款申请,惟报道指主要城市的主要银行尚未收到有关指导,并且不存在有关的积压;有传渖阳监管部门与发展商召开会议,讨论可能放宽购房和转售限制。 该行指出,虽然能看到更多的内房政策改善,但预期短期内不会出现180度的转变,而10月份抵押贷款宽松政策还不够,部分原因是地方政府对预售存款的更严格规定,吸收额外的流动性,以及私人债券在评级下调时可行使的看跌期权,导致某些发展商争夺流动性的情况仍然存在。因此,可能需要更多的政策宽松,如专门的融资渠道,以降低高居不下的离岸债券孳息率。 此外,该行预期是次宽松内房政策将使更多发展商受惠,继续看好国企中的中国海外发展(00688.HK)、华润置地(01109.HK)和万科(02202.HK)等优质品牌,以及非国企中的龙湖(00960.HK)、旭辉(00884.HK)和新城发展(01030.HK)。并维持碧桂园(02007.HK)、富力地产(02777.HK)和雅居乐(03383.HK)的「跑输大市」评级。
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.
uSMART
Wealth Growth Made Easy
Open Account