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每月動向

2021年9月基金投資動向

2021年09月03日

美國聯儲局主席鮑威爾表示,重申今年開始縮減買債規模是合適的,但明確表示在縮減買債後不會立即加息。但市場仍然憂慮通脹上升或會推高息率,加上地緣政治ヽ中美關係及國內對行業之監管政策,增添投資環境不明朗之因數。

8月27日(周五)Jackson Hole全球央行年會上,美國聯儲局主席鮑威爾表示,重申今年開始縮減買債規模是合適的,但明確表示在縮減買債後不會立即加息。但局方多名官員已表明,經濟如持續好轉,聯儲局今年內開始收水實屬合適,若勞工市場持續改善,聯儲局或加快收水步伐,為債息帶來上升動力。市場憂慮通脹上升或會推高息率,加上地緣政治ヽ中美關係及國內對行業之監管政策,增添投資環境不明朗之因數。

內地近月對個別行業加強監控,市場憂心政策措施不明朗,使部分外資從中概股流出,亦令中港股票指數近期有點停滯不前。面對政策風險,投資者不能依賴傳統分析技巧,只能密切留意政策發展。

然而,投資歸根究底也離不開「價值」投資,8月底彭博(Bloomberg)資料顯示主要股票市場之市盈率(P/E)而論,美國道指為21.41倍,而歐洲方面之德國DAX為18.13倍,內地上證綜合指數為15.11倍及香港恒生指數10.04倍,相比之下,歐洲及中港股市之估值相對吸引。投資者可以留意市值較低之地區,作進一步投資部署。

我們將準備迎接第四季之來臨,投資者一般都會留意10月份股市,擔心「股災月」之故事重演,故此在9月份都會採取較為謹慎之投資策略。投資者若然持有較多股票基金,可以考慮減持,或轉換至估值較低的地區之股票基金或亞太區之美元高息債券基金。基金由專業投資經理管理,投資組合可以分佈在不同地區、資產、行業、公司等,有助分散風險。

客戶如欲查詢有關基金資訊,歡迎致電致富理財熱線: 2500 9188 聯絡我們。

致富有提供債券、基金一站式投資策略,比供客戶選擇。想知道和了解更多,請即刻聯絡我哋們投資策略專員解答疑難!

WhatsApp : 投資策略專員

更多基金資訊、種類 和 比較:

連結

投資涉及風險,以上建議只作為參考之用。致富在法律上均不負責任何人因使用本報告內資料而蒙受的任何直接或間接損失。以上報告由致富集團研究部的分析員(“此等人士”)所撰寫,此等人士均為香港證監會持牌人士。此外,截至本報告發表當日,此等人士均未於本報告中所推介的股份存有權益。



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上述報告由致富證券有限公司(「本公司」)所提供,所載之內容或意見乃根據本公司認為可靠之資料來源來編製,惟本公司並不就此等內容之準確性、完整性及正確性作出明示或默示之保證。上述報告內之所有意見均可在不作另行通知之下作出更改。上述報告的作用純粹為提供資訊,並不應視為對上述報告內提及的任何產品買賣或交易之專業推介、建議、邀請或要約。本公司及其附屬公司、僱員及其家屬及有關人士可於任何時間持有、買賣或以市場認可之方式,包括以代理人或當事人對本報告內提及的任何產品進行投資或買賣。投資附帶風險,投資者需注意投資項目之價值可升亦可跌,而過往之表現亦不一定反映未來之表現。投資者進行投資前請尋求獨立之投資意見。本公司在法律上均不負責任何人因使用本報告內資料而蒙受的任何直接或間接損失。本公司擁有此報告內容之版權,在未獲本公司許可前,不得翻印、分發或發行本報告以作任何用途。

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