《大行》匯豐研究:國內及北向資金增持人工智能基建及金融 對消費相關行業保持審慎
匯豐研究發表報告指,國內及北向資金均增持人工智能基建及金融板塊股份,但對消費相關行業保持審慎態度。今年累計南下資金按年流入8,000億港元,創歷史新高,近期重點已轉移至金融及醫療保健行業。而最被主動型共同基金低配的行業分別爲銀行>非銀行金融>公用事業>餐飲業。
報告指,在第二季,機構投資者明顯偏好人工智能價值鏈中的基礎設施部分。國內基金對人工智能基礎設施的配置增加2.4個百分點,重點投資於光學模組供應商;而北向基金則增加0.7個百分點的配置,偏好半導體公司。兩者均減少了對人工智能使能者和採用者的敞口。
報告指,國內共同基金更看好領先的保險公司,而北向基金則偏好有色金屬和電氣設備。在銀行業方面,國內共同基金傾向於深度價值股,而北向基金更青睞現金流穩定且回報率較高的大型銀行。國內和北向投資者均增加了對通信服務、銀行和非銀行金融業的配置,但減少了對食品飲料、汽車和家電的配置,顯示出對消費相關行業的擔憂。
在第二季,活躍的股票型共同基金購買價值214億元人民幣的香港上市股票,將其持倉比例從第一季度末的13.4%提高到第二季度末的14.5%。具體而言,國內機構投資者偏好香港市場的創新藥物和高股息金融股。值得注意的是,南向資金淨流入保持強勁勢頭,自6月以來淨流入1,465億港元,其中金融業和醫療保健業獲得的流入最多。
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