智通财经APP获悉，普徕仕(T.Rowe Price)表示，美国股市的牛市周期现已踏入第四年，过去三年均录得双位数升幅，令市场开始再度关注升势能否延续。诚然，股市连续多年上升并不罕见，但连续四年录得双位数回报的情况却相当少见。在宏观环境有利及基本面稳健的支持下，普徕仕对股票资产维持正面看法。鉴于估值仍属合理，加上盈利前景向好、利率回落，以及监管松绑与并购活动、首次公开招股(IPO)等利好因素，该行增加了对美国小型股的配置。
看淡一方指出，多项不确定因素正逐步浮现，包括估值水平偏高、市场升势集中于少数股份、美联储在领导层变动下的政策方向仍存变数、劳动市场出现降温迹象，以及美国中期选举带来的政治风险。
不过，历史经验显示，牛市并不会单纯因时间流逝而结束。即使目前估值偏高，但仍未达到以往周期的极端水平。看好一方亦指出，多项支持因素仍然存在，包括企业盈利预期依然稳健、人工智能(AI)受惠范围持续扩大、财政政策支持、资本开支增加、监管环境趋于宽松、并购活动回升，以及贸易紧张局势逐步降温。
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