植耀輝:恆指反彈惟勢未改中移動(00941.HK)價殘仍未宜吸納
耀才證券研究部總監植耀輝稱,港股連續第二日出現反彈,不過反彈力度不強,某程度上反映整體市場氣氛未見太大改善,始終圍繞投資市場的因素仍多,特別是三大因素─來自中美貿易的挑戰、人民幣匯價表現以至本地社會運動事件,均會對港股帶來衝擊。事實上,筆者相信短期內三大因素難有突破,一旦形勢進一步惡化,港股回落機會仍高,暫仍以25,500點為短期支持位。
股份方面,中移動(00941.HK)上半年按新會計準則計EBITDA增長3.6%,同口徑比則下跌4.6%;至於股東應佔利潤方面則下跌14.6%。中移動業績欠理想屬預期之內,然而筆者想指出的是,在「提速降價」的大前題下,三大電訊營運商股價近年每況愈下,相信在發展5G初期,情況亦難改變,亦因此不宜吸納相關股份。不過待5G發展至成熟階段,相信會有較多增值服務收入,屆時才可能會有較理想表現。
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