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外資機構投資者如何看待當前的港股?配置意願幾何?
uSMART盈立智投 11-10 10:16

來源:風研海外

天風證券在2022年11月首周對外資投資機構者展開問卷調研,重點關注中國資產(包括港股、A股)配置意願。

調研結果的核心結論:

樣本外資機構投資者的中國資產倉位以中低倉位居多,高倉位佔比約25%。展望後續,相對更多的樣本外資機構投資者看好中國資產持續修復、短期反彈的機會。未來6個月內,樣本外資機構投資者增配中國資產意願較高,其中增配A股的意願相對更高。

對於港股市場,對比中國資產整體的展望,更多的樣本外資機構投資者看好港股市場短期反彈。多數看好港股市場的外資機構投資者認爲確定性提升、風險偏好修復將是主要的上漲因素,關注的風險因素則相對更多集中於監管、全球經濟衰退、地緣政治、疫情等。從板塊來看,樣本外資機構投資者相對更看好互聯網與軟件、消費、高股息板塊。對於中國互聯網板塊,佈局短期反彈和持觀望態度的相對佔比較高。

對於A股市場,相對更多的樣本外資機構投資者認爲未來一段時間市場風格以中小盤成長爲主,行業中相對看好TMT中信創等子賽道、光伏、電動車與智能汽車、航空。

對於美股市場,佔比約67%的樣本外資機構投資者認爲美股盈利尚未完全下調,整體持謹慎態度。

風險提示:宏觀經濟風險;國內外疫情風險;調研樣本有限,不能完全代表全貌。

調研結果部分節選:

1)目前外資機構投資者的中國資產倉位以中低倉位居多。

2)樣本外資機構投資者增配A股、港股、中概股意願較高。

3)相對更多樣本外資機構投資者看好中國資產持續修復、短期反彈的機會。

4)港股市場中,樣本外資機構投資者相對更看好互聯網、消費、高股息等板塊。

5)樣本外資機構投資者認爲港股上漲的主要潛在因素是確定性提升、風險偏好修復。

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