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《大行》摩通:內地修例保障中小企應收賬 助降低內銀資產質量風險
摩通發表報告指,過去一個月,H股銀行股大升13%,跑贏同期恆生指數達6個百分點。該行重申看好中資銀行股。
摩通認為,內地新修訂保障中小企業款項支付條例,旨在縮短中小企業應收賬款周轉天數,已於6月1日生效,將降低銀行的資產質量風險。在該發展趨勢下,郵儲銀行(01658.HK)和民生銀行(01988.HK)可能比其同業更受惠。
另外,國有內銀股息息差為280基點,高於15年期160基點的平均值,該行認為資產輪動轉向收益股的動力並未減弱。
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