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大行评级|摩根大通:内房违约应很快进入最后阶段 四大内银或继续跑赢大市
格隆汇 07-08 10:21

摩根大通发表报吿指,假设市场对国企内房的信心仍然完好,内房违约应该很快就会进入最后阶段,尽管民营内房企可能还会有一些违约情况。内房股方面,摩通行业首选是润地、中海外和保利物业。信贷方面,内地高收益内房债券上半年取得双位数回报。内房信用首选龙湖、越秀地产和中国绿城。

另外,该行指,虽然见到内房商资产负债表有所恶化,但认为对银行资产质量的影响可控,因为开发商债务包括贷款和债券仅占银行资产的4.5%,而且开发商贷款的贷款价值比较低;银行对按揭贷款增长预期保持审慎。该行认为对银行资产质量的影响可控,四大内银可能继续跑赢大市,首选建行。

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