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大行評級丨摩根大通:近期回調是增持高質量中資金融股機會 首選招行
格隆匯 12-16 14:01
摩根大通發表研報指,考慮到當局採取更積極的政策基調刺激消費,預期對銀行貸款組合有利,加上內地個人養老金計劃擴展,目前對金融市場前景仍抱有審慎樂觀看法,近期的回調將是投資者增持高質量中資金融股的機會。摩通認為,當局亦將防範金融風險列為首要任務,或意味着淨息差或回穩,預期未來中央將推出更有力措施來降低銀行融資成本,並會降低LPR利率,憧憬貸款重拾增長、資本市場氣氛和消費温和回升等,都對銀行手續費收入增長前景有利,預測減息環境下家庭對股票、基金及保險產品的資產配置將上升。該行較看好對資本市場及零售業務敏感度高的銀行,首選招行,其次為平安銀行,亦看好建行等可提供穩定盈利及股息回報,以及國壽及中國平安等擁有強大分銷渠道及良好償付能力的壽險公司。
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