大摩:推出恒生科技指数对中国股票有利
摩根士丹利发表研究报告,指推出恒生科技指数对中国股票有利,因为基于指数基金及衍生产品可以吸引更多投资者及流动性,甚至是吸引在岸市场的投资者。大摩认为恒生科技指数对MSCI中国指数刺激作用大于恒指,因为较少重叠。
该行预期ETF及其他基金产品将以新的科技指数为基准而推出,最近中概股回归并在香港第二上市,使指数的组成更均衡,阿里巴巴(9988.HK)、网易(9999.HK)及京东(9618.HK)的权重共超过15%。在预期未来有更多中国科技公司计划来港第二上市之下,恒生科技指数的综合性将会提高。
该行又指,相关的基金发行将触发资金正向流入科技指数成分股,目前难以量化实质的流动性影响,但尝试根据现有资产管理规模作分析,认为猫眼娱乐(1896.HK)、ASM太平洋(0522.HK)、联想集团(0992.HK)是资金流入的最大受惠者。
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