多空分歧?小摩策略师:长期多头将成为中国科技股净买入主力
摩根士丹利表示,自1月以来,只做远期多头的投资者已取代对冲基金成为中国科技股的主要买入力量,主要由于投资者对市场进一步上涨的前景仍存在分歧。
包括Gilbert Wong在内的策略师在2月16日的一份报告中写道,之前减持中国市场持仓的共同基金的买入“已不再仅由投资组合再平衡驱动,一定程度也反映了新资本配置现正成为市场净买入主力”。
策略师们补充称,相比之下,多头空头基金经理自上月底以来已调整削减了总持仓量。
策略师写道,一些只做中长期多头的经理人正在利用近期市场股价下修的机会增加对媒体、电子商务和医疗保健行业股的投资敞口。“然而,他们的行业投资偏好不再仅仅偏向‘中国市场重新开放’这一主题,而是根据自下而上的基本面变得更具选择性。”
这一转变发生中国A股股市涨势出现放缓迹象之际,恒生科技指数本周进入技术性修正,并于随后回落。
此外,策略师表示,大多数投资者的主要关注领域为A股中人工智能领域的潜在的独角兽企业,以及可人工智能业务能够对财务状况有所改善的公司。
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