华泰证券港股策略:港股或仍具相对收益 科技+消费是配置主线

格隆汇
May 26, 2025

华泰证券港股策略称,港股市场热度较高,风险情绪改善支撑上周港股小幅收涨1.1%。近期仍有投资者担忧供给冲击与海外利率上升,华泰证券认为无需过度悲观。首先,港股流动性充裕,可有效承接宁德时代等大型IPO融资,优质资产上市反而吸引增量资金。其次,尽管美债利率上行,但当前港元需求强劲推动金管局释放大量流动性,有效对冲海外利率压力,且港股与美股相关性已经减弱。外部市场的不稳定或进一步巩固港股承接超配美元资产的地位。

华泰证券提示战略性重视港股市场的配置价值。港股或仍具相对收益,科技+消费是配置主线,关注人民币升值受益板块,以及大市值且互联互通交易量大的标的AH溢价收窄趋势。

责任编辑:栎树

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