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《大行》摩通料內地券商收入及投資收入在第三季有上望空間
摩根大通報告指,內地券商經營數據於8月持續改善,A股日均成交升至2.3萬億元人民幣,為歷史最高月度水平,日均成交金額連續18個交易日超逾2萬億元人民幣,融資結餘於9月初升至2.28萬億元人民幣紀錄新高,券商新開戶按月升35%至265萬個,媒體報道指新舊客戶入市興趣增加。 該行對券商業維持正面看法,見到券商收入及投資收入在第三季有上望空間,建議同時買入華泰(06886.HK)H股及沽空國泰海通(02611.HK)H股的一個月組合交易,基於華泰在A股及港股新股上市市佔增加,且較傳統同業在零售券商業務有更多槓桿,國泰海通則第二季業績相對疲弱,且繼續受合併帶來的經營效益壓力影響。
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