金吾财讯 | 华泰证券表示，今年香港银行板块演绎出独立行情，跑赢恒生指数。该机构认为核心原因是： 1）26Q1香港GDP高增引导信贷需求回暖；2）香港财富管理市场复苏加快；3）地产风险缓释；4）Hibor超预期回升助力行业息差企稳；5）人民币升值背景下资金回流，香港作为离岸金融枢纽直接受益。展望下半年，该机构认为香港地区经济复苏与地产修复将持续，美联储降息节奏暂缓将带动Hibor利率继续回升，助力港银息差企稳。考虑到香港资本环境及财富管理需求改善对银行基本面的进一步提振，港银业绩有望迎来持续改善。基于“股息+业绩增长”策略，建议适度加大对盈利弹性更强的外资行配置力度。年初以来外资对港股金融板块整体增配，该机构建议把握香港银行价值重估机会。下阶段需重视香港经济基本面修复与息差企稳带来的业绩改善机会。
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