综观目前跑赢恒指，并有逾4%股息率的20只成分股中，集中在能源、金融及综合企业身上。能源股和内银股近期分别因不同负面消息，相继出现调整，但两大板块股价累升不少后借势回落，对后续走势会更有利，现水平更具值搏率。The China Citic Bank Corporation had previously set a target price of 21,000 points for the Hang Seng Index, which has now been adjusted.
According to the Futu Securities app, although the market expects the Federal Reserve to start an interest rate cut cycle next week, the investment community believes that this may not necessarily stimulate the overall performance of the Hong Kong stock market. Zhang Haoen, Director of Investment for Personal and Commercial Banking at China Citic Bank (International), expects that the Federal Reserve's interest rate cut will proceed in a cautious manner and may not cut more than 1% this year. In addition, over the past month, changes in interest rate cut expectations have not had a significant direct impact on the Hang Seng Index, indicating that its performance is no longer influenced by external fundamentals. The target price for the Hong Kong stock market for this year is set at 19,800 points, which is equivalent to a P/E ratio of about 9.5 times. The China Citic Bank Corporation had previously set a target price of 21,000 points, which has now been adjusted.
He bluntly stated that among the approximately 600 constituent stocks of the MSCI, 100 of them are high-dividend stocks. The total return of the high-dividend stock index in the first 8 months was 14%, indicating that the market is currently focused on individual stocks rather than the overall market. He believes that the high-dividend stock theme will continue to be beneficial, and there are opportunities to buy into certain recently adjusted sector.
Looking at the current 20 constituent stocks that have outperformed the Hang Seng Index and have a dividend yield of over 4%, they are mainly in the energy, financial, and comprehensive enterprise sectors. The stocks in the energy and China mainland banking sectors have recently experienced adjustments due to different negative news, but after a significant increase in stock prices, they have retraced to a more favorable level, which presents a good buying opportunity for future trends.
Zhang Haoen added that the biggest uncertainty in the market right now is still the US presidential election, as there is uncertainty about the policies of the potential successor. If the policies of the new president lead to inflation, it may not necessarily ease as smoothly as expected.
