港股午評：恒指升0.26%，恒科指止步4連升，三大運營商強勢
格隆匯7月14日丨港股上午盤三大指數呈現高開回落行情，恒生科技指數午間收跌0.39%止步4連升，恒指升0.26%錄得連升5日。
盤面上，大型科技股多數由升轉跌，美團跌1.63%，小米、百度、快手、阿里巴巴均翻綠，網易、騰訊維持升勢；電信股拉昇明顯，三大運營商強勢，中國聯通升逾6%，中國電信升超5%；國際油價持續上升，三桶油繼續活躍，美元下破百元大關，黃金股等有色金屬普遍上升，體育用品股、半導體股、中字頭股、大金融股多數上升。 另一方面，此前連續上升的汽車股集體表現低迷，內房全線下跌，龍湖集團、碧桂園等權重皆走低，帶領物管股、建材水泥股齊挫。
板塊方面
電信股強勢，三大運營商集體拉昇。大摩預計，因5G ARPU穩步提升，以及良性競爭和監管，傳統電信服務增長勢頭將持續穩定。對於工業互聯網，由於行業增長潛力巨大，三大電信股於2022至2025年的收入年均複合增長率達14%。該行預期2022至2025年間，中國移動、中國電信、中國聯通的股息年均複合增長率分別達8%、13%及14%，重申對三大電信股H股增持評級，以反映其基本面穩固、股東回報改善，以及估值吸引，料今年股息率達7%至8%，預測今年市盈率介乎8至10倍。對中國電信、中國移動、中國聯通的H股目標價分別為5港元、75港元及7.5港元。
國際油價持續上升帶動三桶油走強，中國石油升約2%。6月底以來，國際油價呈震盪拉昇態勢，挺價因素頗多。一方面，全球主要石油出口國宣佈進一步減產。另一方面，發展中國家需求強勁。受益於美元下跌、EIA下調今年美國原油產量預測、對發展中國家需求增長預期樂觀、全球大型石油出口國削減供應等因素，油價有望繼續震盪上行。
汽車股集體回落，蔚來領跌。中國汽車工業協會副祕書長陳士華在“變革為新 共創中國汽車現代化發展新高地”主題論壇上表示，今年上半年新能源汽車還保持着較快的增長速度，今年整體來看，預計全年新能源汽車銷量將達到900萬輛。針對今年新能源汽車的發展情況，陳士華表示今年政策切換帶來產業的波動，目前來看仍將有幾個月的陣痛期。
個股方面
匯豐控股升超1%，股價創逾5年新高。有消息稱，匯豐正在中國建立綠色金融和債券團隊，以滿足激增的需求。知情人士透露，面對過去一年客户詢問激增的情況，匯豐正探索向客户提供碳抵消產品。匯豐上週曾表示，該行對擴大在華業務的機會持“開放態度”。
金山雲盤中升超8%，美銀指公司受惠於內地不斷增長的雲計算市場。消息面上，美銀證券恢復金山雲H股“中性”評級，認為公司可受惠於內地不斷增長的雲計算滲透率和雲計算應用，人工智能雲服務的擴展可能會為市場預期帶來上行空間；目前估值已經反映該公司穩定的增長前景，即2022至2025財年10%的收入年複合增長率。
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