植耀輝:成交未配合港股難突破物管股升幅大不宜高追
耀才證券研究部總監植耀輝稱,港股昨日(11日)延續反彈,受聯儲局主席鮑威爾減息預期升溫支持,港股一度上升超過378點,不過午後A股表現轉差,升幅亦收窄至227點,成交量則略為回升至674億元水平。某程度上,有關減息之預期已逐漸被消化,投資者關注點亦將重回中美貿易談判進展身上。另一方面,A股近日走勢疲弱,亦對港股帶來不利影響,因此除非有進一步重大利好或利淡消息,否則大市難見突破。相信現階段仍只會於持續於28,000至29,000點水平上落。
亦可再談談物管股行情。物管板塊近期升勢凌厲,原因有三。第一是「輕資產」概念,同時具有穩定現金流,以及大部分財政狀況健康;其次是個別公司發盈喜,預期盈利有可觀增長;最後是其業務特性相對穩定,於市況及經濟未明朗之下有較佳防守性。事實上,筆者早前亦增推介中海物業(02669.HK),主要看好未來母公司加快賣樓步伐對發展有利,股價亦已升抵筆者早前定下之4.5元目標價。只是一來累積升幅不少,二來股價如此抽升,不排除個別股份會有「抽水」動作,因此不建議現水平高追。
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