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《大行報告》花旗:資源股受惠人民幣貶值 航空股影響負面
花旗發表報告指,人民幣兌美元貶值,對於在香港投資中資股的海外投資者十分重要,因為公司盈利以人民幣賺取、但股價為港元。在中國政府傾向貨幣寬鬆、而美國聯儲局收緊政策時,相信人民幣貶值趨勢持續,短期而言,人民幣貶值對資源股最正面,因為金屬銷售以美元計價;而對有收入來自海外的航空股,以及部分綜合企業則最負面,因後者歐元或美元計價債敞口較大。 在中國股票策略方面,該行仍然最關注中國經濟復甦緩慢、人民幣貶值及中美關係,偏好A股市場多於H股,相信有較多政策支持,行業方面,建議增持互聯網、科技、消費、交通,H股首選維持周大福(01929.HK)、比亞迪(01211.HK)及金沙中國(01928.HK);並加入友邦(01299.HK)、攜程(TCOM.US)及中航信(00696.HK),因公司及行業展望正面。
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