券商板塊連漲7日!東方證券漲停,機構:關注估值修復行情
近段時間,券商股迎來一波反彈行情,A股券商板塊指數已經連續7個交易日收紅。
今日,港A證券板塊走高,截至發稿,東方證券漲停,廣發證券漲超5%,財通證券漲超4%,東方財富、長城證券、興業證券等跟漲。

港股方面,東方證券漲超9%,中金公司漲5%,光大證券漲超4%,廣發證券、中信證券等紛紛走高。

消息面上,中證協下發《網絡和信息安全三年提升計劃(2023-2025)》徵求意見稿,其中提高了券商信息科技投入佔營收的比例。
政策利好持續
一方面,行業信息科技投入將提升。中證協向券商下發了《網絡和信息安全三年提升計劃(2023-2025)》徵求意見稿,其中提到,鼓勵有條件的券商未來三年信息科技平均投入金額不少於平均淨利潤的8%或平均營業收入的6%,有條件的券商積極推進新一代核心系統的建設,開展核心系統技術架構的轉型升級工作。
而在此之前,據《證券期貨經營機構信息技術治理工作指引(試行)》,券商最近三個財政年度IT投入平均數額原則上應不少於最近三個財政年度平均淨利潤的6%,或不少於最近三個財政年度平均營業收入的3%。
對此,華安證券認為,新的徵求意見稿理論上有望使得券商IT投入翻倍,將給證券IT行業帶來成長空間。個股方面推薦:恆生電子、頂點軟件、金證股份。
此外,穩增長需求下,市場流動性保持寬裕。此前中央經濟會議明確提出“要保持流動性合理充裕”,一般來説寬鬆的流動性利好券商。
而且2022年以來,我國資本市場發行機制和交易機制改革繼續深化,多個期貨期權衍生品不斷推出,全面註冊制也在繼續加快落地,以上種種因素都有望帶動券商業務線發展。
行業存在估值修復機會
另一方面,當前,券商PB估值為1.27倍,處於十年來5.86%歷史分位,具有較高的安全邊際。展望券商行業未來,機構普遍看好券商行業行情,認為板塊當前處於底部,可能存在估值修復機會,從而帶來階段性行情。
開源證券研報稱,經濟復甦期大金融板塊往往有領先超額,其中非銀板塊在權益資產加持下彈性較強。券商板塊估值仍在底部,近期相較其他大金融板塊滯漲,低基數下一季報有望同環比明顯改善,寬貨幣政策和交易量底部回升有望催化券商板塊行情。
具體個股層面,首推輕資本成長型券商東方財富和指南針,受益標的同花順和香港交易所;傳統券商推薦東方證券(完成配股+盈利高彈性+低估值)、廣發證券、中信證券和國聯證券。
國信證券也認為,短期來看,隨着美聯儲加息預期放緩,地產融資環境改善,壓制市場的風險因素得以緩釋,市場情緒改善,券商板塊有望迎來反轉效應。
長期來看,作為我國經濟轉型的重要抓手,券商會長期受益於資本市場制度改革以及財富管理大時代的紅利。行業整體向專業化、差異化、特色化發展。
個股層面,建議關注財富管理特色鮮明的券商國聯證券、賽道獨特的互聯網券商東方財富;此外,也建議關注資本實力、風險管理能力、研究定價能力、業務佈局方面均有優勢的龍頭券商中信證券、中金公司。
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.