《大行報告》大摩:市場焦點從「通脹與利率風險」轉向「衰退及股息風險」料優質收息股大放異彩
摩根士丹利發表亞洲區策略報告指,該行早前推介的第二季「增加股息」(Enhanced Dividend Screen)主題股份名單,表現優於MSCI亞太(撇除日本)及高息指數分別6.1%及6.9%,並認為經濟衰退風險上升並不一定意味著高股息股票將會跑贏大市。在這種環境下,歷史上表現優異的公司是資產負債表具有彈性和經常性現金流穩定的公司。若只單純尋找歷史股息收益率高的股票,可能會讓投資者陷入「價值陷阱」。
展望今年下半年,該行預計投資者的注意力將進一步從「通脹和利率風險」轉向「衰退風險」和「股息風險」,料優質收息股可繼續大放異彩。
大摩列出亞太區第三季「增加股息」主題推介股份包括昆侖能源(00135.HK)康哲藥業(00867.HK)、中石油(00857.HK)、工行(01398.HK)、聯電(2303.TW)、興業銀行(601166.SH)、印尼United Tractors Tbk PT(UNTR.JK)、新加坡Venture Corporation(VENM.SI)、澳洲South32 Ltd(S32.AX)及南韓韓亞銀行(086790.KS)。
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