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每月動向

2021年4月基金投資動向

2021年04月01日

市場預期經濟復甦,令通脹上升,推高美國國庫債券孳息率。美國10年期國庫債券孳息率,季末收報1.74厘,較去年底上升0.83厘。

2021年第一季多個地區股票指數均錄得升幅。美國道指第一季度累漲7.8%、標普500指數累漲5.8%及納指累漲2.8%;香港恆生指數在爆上31,183點後回吐,惟全季亦累升1,147點,或上升4.2%。國內A股於期內衝高後回調,季度表現來看,滬指跌0.9%,深成指跌4.8%,創業板指跌7.0%。美國總統拜登上任後,積極鼓勵市民防疫及接種疫苗,亦推行紓困經濟方案,藉此加快經濟重啓。

市場預期經濟復甦,令通脹上升,推高美國國庫債券孳息率。美國10年期國庫債券孳息率,季末收報1.74厘,較去年底上升0.83厘。市場雖然樂於見到經濟復甦,但卻憂慮通脹加劇,或迫使美國聯儲局提早加息。息率上升令投資借貸成本增加,投資者減持風險資產組合,股市大幅波動。

國際貨幣基金組織(IMF)在上月底公佈的數據顯示,去年第四季度,美元在全球外匯儲備中所佔比降至25年來的最低水平。市場預期投資者將會增持人民幣及歐元資產。美國股市指數屢創新高,而亞洲區內整體股市估值較美國低,價值型的投資者,可留意亞洲地區的資產配置;尤以中港股票市場,受惠中概股回歸上市,應該可看高一線。

不過,我們仍要注視美國利率走勢,將繼續影響股市短期表現。經濟復甦及刺激措施或推高通脹,或令利率急速上升,加重槓桿投資成本。惟經濟重啓,長遠有助經濟發展,有利傳統價值型股份。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。



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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