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植耀輝: 聯儲減息美股靠穩 莎莎(00178.HK)盈警未宜撈底
阿思達克 09-19 10:48

耀才證券研究部總監植耀輝稱,聯儲局在議息會議後宣布減息0.25厘,合乎市場預期。根據利率點陣圖顯示,10名委員認為2019年不會再減息,7名委員則認為需再減息一次;另外,點陣圖顯示2020年預期不會減息,2021年和2022年各減息一次。不過聯儲局主席鮑威爾在新聞發佈會上表示,若經濟出現下行風險,有可能需要更多減息,以及擴大資產負債表規模。

美股三大指數隔晚(18日)則個別發展,道指在公布議息結果後一度大跌逾200點,但鮑威爾言論「偏鴿」令大市出現反彈,最終道指上升36點或0.15,收報27,147點,納指則跌8點或0.1%,收報8,177點,標普500指數大致持平,上升1點,收報3,006點。

至於港股,昨日走勢呈窄幅上落,全日波幅亦只得約160點,成交亦回落至只得595億元。由於市場觀望氣氛濃厚,投資者亦未敢輕言妄動。當然,隔晚聯儲局議息結果合乎市場預期,不過筆者相信刺激作用有限,大家更關注可能是在「十一」國慶前會否有利好措施出台。預期港股暫會於26,000至27,000點水平徘徊。

至於股份方面,值得談談莎莎國際(00178.HK)。該公司發盈警,預期業績表現將欠理想。事實上,集團指截至8月31日止首五個月期間錄得虧損,而9月首十四日銷售情況亦十分疲弱,意味上半年業績將「見紅」,同時集團亦表示會透過不同措施去應對當前挑戰,包括與業主商討減租事宜,積極減省人工支出、銷售及行政等營運開支等。

事實上,業績表現差已是預期之中,股價年初至今亦已累跌超過四成,惟基於前景依然不明朗,筆者暫亦不建議大家現水平博反彈。

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