高盛:中国资产是寻求分散化配置的好地方 A股优于H股

格隆汇
Yesterday
高盛报告表示,全球债券收益率处在数十年高位,而中国10年国债收益率维持历史低位,A股股权风险溢价处于近年来偏高水平,中国资产是寻求分散化配置的好地方。报告指出,如果联储局9月加息,不应成为中国股市,特别是离岸市场的重大表现障碍,因定价低于公允估值。该行认为因盈利增长、利率环境更有利等因素,A股优于H股。 报告还称,由于可能的地缘和财政原因,中国资本流出强度和税收政策的关注似乎有所增加,仍将可能在短期内抑制对与中国资本挂钩的海外资产情绪;香港开发商、保险公司、澳门博彩业和离岸上市的中国民企或受影响。 9月24日关注议题或包括中美双边贸易和投资、AI监管、网络安全、地缘政治等,高盛说,市场普遍认为出现重大突破的概率较低。此外,政策制定者在9月的政治局会议上推出另外大规模刺激计划的可能性和紧迫性亦似乎很低

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