《大行》匯豐研究:南向資金推動港上市金融股上漲 料仍有上升空間
匯豐研究發表報告指,南向資金大量流入推動香港上市金融股的上漲,預計未來仍有更多上行空間。該行看好香港金融股及部分內地金融股,目標價上調1.4%至26.5%。
匯豐研究指,該行覆蓋的H股銀行股從2023年底至今上升68%至128%,跑贏同期恆生國企指數12至71個百分點。南向投資者現持有該行覆蓋的H股內地銀行約37%的自由流通股,比2023年底的21.4%有所增加。該行認為,南向資金的增加可能增強該行業在未來下行趨勢中的股價韌性。
該行預計南向資金流入香港上市股份的增長是結構性的,但其形式可能會演變,增長速度可能策略性放緩。進一步的流入可能更傾向於香港金融股和內地保險公司,而對銀行的關注可能減少。
該行看好港交所(00388.HK)、中銀香港(02388.HK)、工商銀行H股(01398.HK)、建行H股(00939.HK)、招商銀行H(03968.HK)/A股(600036.SH)、平安H股(02318.HK)和中國太保H(02601.HK)/A股(601601.SH),均為「買入」評級。
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