You are browsing the Hong Kong website, Regulated by Hong Kong SFC (CE number: BJA907). Investment is risky and you must be cautious when entering the market.
《大行》國泰海通:全年南向增量供給料逾1.2萬億人幣 下半年港股是增量資金市
阿思達克 08-11 11:09
國泰海通發表有關港股流動性報告指,綜合IPO和再融資,年內後續融資規模或近3,000億港元。IPO方面,目前已獲上市委批准的數量為9家,還有207家在審核隊列中,考慮後續上市所需時間,預計今年後續IPO融資規模或在1,500億港元左右。其次,目前超80家A股上市公司計劃赴港,對於已備案/遞交材料的企業,預期潛在增量流動性需求約2,100億港元;對於公告上市計劃的企業,類似估算的潛在增量流動性需求約1,200億港元。考慮到上市所需時間,預計今年後續A to H規模或在1,000億元,由此推測港股整體IPO或在1,300億至1,500億港元。再融資方面,假設後續港股再融資保持年初以來增速,則年內新增再融資需求或在1,200億港元。 報告指,港股第二季度解禁高峰已過,後續關注新消費解禁壓力。第二季是港股解禁的高峰期,解禁總金額達4,448億港元,佔全年的五成。儘管二季度解禁市值大幅增加,但港股股整體並未淨減持。往後看,整體減持壓力有限,但高估值且解禁集中的新消費或存在壓力。 該行指,年內後續港股資金流出項整體壓力或相對可控,全年南向淨流入規模有望超過1.2萬億元人民幣,外資有望邊際改善,下半年港股是增量資金市,或為港股資金蓄水池提供源源活水。往後看,以內資機構為代表的南向資金仍有較為可觀的增配空間:公募方面,若按港股基金合同規定的港股投資比例上限測算,預計全年公募基金總規模有望達3,000億至4,500億元人民幣;險資方面,受益於保費規模穩步增長,預計全年險資實際增量有望達2,500億至4,000億元左右人民幣。另外,近年來外資持續流出港股市場,當下外資配置中國資產的比例已降至歷史低位,接下來外資或將邊際改善。
Follow us
Find us on Facebook, Twitter , Instagram, and YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!
Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.
uSMART
Wealth Growth Made Easy
Open Account