金吾财讯 | 中金公司发文研究称，从一般影响机制角度，美联储若持续加息，可能通过三个渠道影响A股：1）资金面上，美联储加息可能导致全球流动性收紧。加息会导致海外融资成本提升，一般情况下美元趋向走强，带来汇率与资金流向边际变化，影响A股资金面预期。2）基本面上，美联储加息对出口或有影响。尤其在美国利率可能已经不低的阶段，加息对海外传统产业需求可能产生抑制作用，从而压制作为供应商的部分中国企业的出口需求。3）政策面上，一般情况下美联储加息可能从外部条件上对我国货币政策预期有所影响。但本次美加息可能不同于一般的美加息周期开启，对A股能否有持续影响尚待观察，若仅为短期甚至单次加息，其影响会相对有限，且A股近期已有较充分反应。
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