《瑞銀窩輪》油組減產推升油價 看好中海油參考購15236
出乎市場意外,石油輸出國組織(OPEC)週日宣佈減產,由5月開始減產166萬桶並持續至年底,消息一出油價隨即得到支持,當中紐約期油裂口升至80美元左右水平,布蘭特期油亦升超過半成突破85美元關口。而香港上市的三桶油週一亦個別發展,當中中海洋石(0883)股價最高見12.28港元,上升5.3%;中石油(0857)股價最高見同樣升5.3% ,兩股同創52週高位,不過之後升幅收窄。由於油組的減產並表明一定最少維持到年底,如投資者認為油價或有進一步上升的空間,可參考海油認購15236,行使價14.24港元,23年12月到期,有效槓桿約5.6倍,或中油認購13155,行使價4.98港元,23年9月到期,有效槓桿約6.1倍。
不過今次的意料之外,最令市場關心其實是油價上升對經濟的影響。油價反映商業營運成本,如油價高企,相關的成本必然會轉嫁至消費者身上,從而令物價上升。而現時市場正憧憬聯儲局有否放慢加息的可能,而通漲加劇或令此市場憧憬跟局方的實際操作愈行愈遠。另一個令市場擔心的是政治局勢的不明朗,低油價某程度上對俄羅斯財政構成壓力,今次減產或是美國不樂見,會否令已經不明朗的局勢再添陰霾,投資者必須留意。如投資者看淡納指,可留意納指認沽10801,行使價10100點,23年9月到期,有效槓桿約7.6倍。如投資者看淡道指,可留意道指認沽10803,行使價30000點,23年9月到期,有效槓桿約10.倍。
更多窩輪牛熊資訊:瑞銀認股證牛熊證網站: http://www.ubs.com/hkwarrants
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本產品並無抵押品。 如發行人無力償債或違約,投資者可能無法收回部份或全部應收款項。筆者為UBS AG的代表(作為證監會持牌人),並未持有相關上市公司的任何財務權益。本資料由瑞銀刊發,其並不構成買賣建議、邀請、要約或遊說。結構性產品價格可急升或急跌,投資者可能會蒙受全盤損失。過往表現並不反映將來表現。牛熊證備強制贖回機制而可能被提早終止,屆時 (i) N類牛熊證投資者將不獲發任何金額;而(ii) R類牛熊證之剩餘價值可能為零。投資前應瞭解有關風險,並諮詢專業顧問及查閱有關上市檔。UBS Securities Hong Kong Limited為結構性產品之流通量提供者,亦可能是唯一報價者或巿場參與者。(C) UBS 2023。版權所有。~
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