高盛刘劲津:中国AI不存在整体性泡沫 外资配置空间巨大

格隆汇
Aug 09
据澎湃,高盛首席中国股票策略师刘劲津近日表示:“我们认为,AI特别是在中国股票的范围里面,不是一个泡沫。”中国所有AI相关股票的总市值,尚未完全反映AI可能给整体经济带来的收益。因此,刘劲津认为,从整体市值与潜在经济贡献之间的关系来看,中国AI板块并不存在非常明显的整体性泡沫。 从全球视角来看,刘劲津指出,高盛研究部判断美联储未来半年大概率按兵不动,整体环境仍对全球风险资产较为有利,人民币汇率走势能够为A股流动性提供一定支持,另由于和美国、全球股票市场相关性较低,A股在全球资产配置中的吸引力凸显。 此外,刘劲津强调,2026年下半年市场的核心锚点是企业盈利增长,业绩兑现能力将直接决定个股与行业超额收益。具体到AI板块的配置方面,刘劲津认为,电力产业链、硬件基建和物理AI赛道这三个细分赛道值得重点关注。

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