《大行報告》花旗料內地出現更多信託違約 惟導致「雷曼時刻」情景可能性不大
花旗發表研究報告指,碧桂園(02007.HK)及中融信託的信貸事件,再次引發投資者對中資銀行資產質量的擔憂。由於內房持續低迷,該行預料內地會出現更多信託違約,但導致「雷曼時刻」情景可能性不大。該行預料,個人開發商不會接受政府援助,但壓力測試顯示即使在開發商進一步違約的情況下,亦無損銀行股本,主要因已預留大量的撇賬及撥備。
該行指,基於近期內地銀行或被要求履行「國民服務」的風險加大,料銀行股短期跑輸券商股,但鑑於銀行股估值便宜,該行認為負面消息已經被在股價反映,而受到高股息收益支撐,預料大型銀行的絕對回報可觀。
該行看好地區銀行,如寧波銀行(002142.SZ),主要是對高風險開發商、高風險地方政府融資平台和抵押貸款的敞口有限。(ca/u)
~
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.