《大行》麦格理:关注中资股下半年盈利稳定性 留意三主题 看好受惠内需的海底捞及周大福等

阿斯达克财经
Jun 19, 2025

麦格理发表中国市场策略报告,中美贸易战暂停为重新审视中国投资提供机会,关税对MSCI中国指数成份股的销售影响有限,但消费降级、企业创新及政策主题仍具吸引力。就美中关税概率方面,该行认为平均关税水平最有可能稳定在40%至60%,高于过去五年的约20%,指关税确定性对供应链更为重要。该行对中国本地政策展望预期较低:(1)房地产市场逐步稳定、(2)重启本地需求补贴、(3)进一步推进资本市场改革。2025...

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