《大行報告》瑞銀:匯金增持四大內銀A股 顯示中央政府決心提振市場信心
瑞銀發表報告指,中央匯金早前以4.75億元人民幣增持工行(01398.HK)(601398.SH)、建行(00939.HK)(601939.SH)、中國銀行(03988.HK)(601988.SH)、農行(01288.HK)(601288.SH)A股,是八年來首次再度增持,反映政府提振市場的決心,在目前中國增長前景仍然疲弱下,相信政策決定者會進一步支持經濟增長及穩定市場。
匯金以往在股市下行時曾經六次入市,除了上次2015年以約190億元人民幣入市外,其餘幾次買入股份的規模相對小,不超過內銀股權比例的0.01%。按以往歷史,匯金的支持會令股價跑出,例如在2015年8月19日匯金增持後,四大內銀A股在7日、1個月及3個月內,分別跑贏上證綜合指數9.3%、13.1%及4.2%,不過市場整體復甦需時較長。
該行指,雖然大型國有銀行本月底公布的第三季盈利增長,可能較為疲弱,但相信股價具有韌性,目前估值已大致反映負面因素,中國銀行仍為該行首選,相信該行繼續受惠海外高利率環境。
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