多空分歧?小摩策略師:長期多頭將成爲中國科技股淨買入主力
摩根士丹利表示,自1月以來,只做遠期多頭的投資者已取代對衝基金成爲中國科技股的主要買入力量,主要由於投資者對市場進一步上漲的前景仍存在分歧。
包括Gilbert Wong在內的策略師在2月16日的一份報告中寫道,之前減持中國市場持倉的共同基金的買入“已不再僅由投資組合再平衡驅動,一定程度也反映了新資本配置現正成爲市場淨買入主力”。
策略師們補充稱,相比之下,多頭空頭基金經理自上月底以來已調整削減了總持倉量。
策略師寫道,一些只做中長期多頭的經理人正在利用近期市場股價下修的機會增加對媒體、電子商務和醫療保健行業股的投資敞口。“然而,他們的行業投資偏好不再僅僅偏向‘中國市場重新開放’這一主題,而是根據自下而上的基本面變得更具選擇性。”
這一轉變發生中國A股股市漲勢出現放緩跡象之際,恆生科技指數本週進入技術性修正,並於隨後回落。
此外,策略師表示,大多數投資者的主要關注領域爲A股中人工智能領域的潛在的獨角獸企業,以及可人工智能業務能夠對財務狀況有所改善的公司。
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