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每月動向

2023年11月基金投資動向

2023年11月03日

面對中美經濟及地緣政治風險和通脹壓力,投資者應關注黃金、科技、醫療基金和貨幣基金。

美國上月公佈9月份居民消費價格指數(CPI)為3.7%,略高於市場預期的3.6%。與6月份相比,CPI同比增長持續擴大。近期以色列與巴勒斯坦的衝突使地緣政治風險升溫,刺激油價、黃金等商品價格急劇上漲。市場擔憂以巴衝突持續升級,或會令中東原油供應受到影響,再加上冬季的來臨,燃油需求上升,預計油價將持續高企。油價回升將增加通脹壓力,或令利率繼續高企。

中國內地上證綜合指數於10月20日收報跌破3,000點關口,創下今年以來的新低。內地多家機構認為大盤已經出現熊市末端的跡象,向下探底的空間有限。從估值角度來看,當前中港股市已處於極低水平,近期的尋底調整是否成為入市的短期機會呢?市場估計內地可能在今年第四季度再次降準,增加市場流動性。

美股近期表現大幅波動,投資者再次擔心美股當前的估值是否過高。傳統企業或因息率高企導致盈利受壓,因此,大多數企業都努力降低成本,增加運營效率。另一方面,大型科網企仍然積極投資在人工智能(AI)領域,AI相關的股票基金值得關注。

美聯儲於11月1日(香港時間:11月2日凌晨)宣佈維持利率不變。主席鮑威爾表示,對於較高的長期美國債券收益率、強勁的美元以及疲弱的股市所帶來的金融環境緊縮表示關注,並指出這些因素可能對未來的利率走勢產生影響。他強調,更令人擔憂的是美國債券收益率的上升,已經導致家庭和企業的借貸成本增加,這將對經濟活動帶來壓力。

明年2024年是美國總統選舉大選年,從以往經驗看,大選年期內的美股表現通常不會差,主要因為當股市和經濟表現強勁時,更換總統或執政黨的誘因往往會較少。美國財政部長耶倫在10月初曾表示,利率在更高水平維持更長時間「絕不是必然的」。明年美國是否需要借助調降息率來刺激經濟呢?

我們需要關注地緣政治事件的發展形勢。短線而言,若手上已持有黃金類別的投資工具,可以適時套現獲利。對於中線投資組合的資產配置而言,可考慮適時配置人工智能(AI)相關的科技基金;醫藥行業板塊的股票基金也值得關注。若投資風險取態趨向保守,可考慮把資金更多配置在貨幣基金上。目前市場上相關的貨幣基金年化收益率大約為4.6%至4.9%。

投資者透過基金組合投資,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,供客戶選擇。想知道和瞭解更多,請即刻 按此 聯絡我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。



免責聲明
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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