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ILB 市況速遞

Feb 8, 2010 , Posted by Diamond Recruit at 4:55 PM

市場最新動態: 2010年2月5日股市走勢 背後的原因


美國股市收低,標準普爾500指數創下去年4月份以來的最大跌幅,因 企業盈利令人失望,上週首次申請失業金人數上升,並且投資者越來越擔憂希臘、西班牙和葡萄牙難以削減預算赤字。美國銀行(Bank of America Corp.
)和美國鋁業(Alcoa Inc.)下跌,拖累道瓊斯工業平均指數中30隻股份中有29隻下跌。


歐洲股市錄得過去兩個月以來最大跌幅,因投資者擔 憂希臘、西班牙和葡萄牙難以削減預算赤字(憂慮主權債務增加),加上美國首次申請失業救濟人數意外上升。


由於本國債券與基準 市場德國之間的息差急劇擴大,歐洲所謂周邊經濟體的債市也承受了巨大壓力。


亞洲股市亦相告下跌,澳洲零售銷售意外下跌,加 上新西蘭的失業率上升至逾十年以來最高水平,令市場憂慮區內經濟復甦或會放緩。


投資者擔憂中國政府在今年會繼續調整貨幣政策(基於通脹預期以及房地產投機壓力),顯示 他們意識到中國才是“環球增長的引擎”。所以,在中國任何減慢經濟增長的措施都會對包括從股票到商品以及澳元等“成長型資 產”起到負面作用。


香港股市於今日下跌,因為受前晚美國/歐洲股市對經濟復甦憂慮及失業率上升所拖累而走軟下行。內地銀行股下跌,因有新聞報導稱 交通銀行可能需要進行融資。


巴西股市錄得過去三個月以來最大跌幅,貨幣雷阿爾 的走勢亦偏軟,因市場憂慮環球經濟復甦放緩,將會對新興市場造成衝擊。


美國國庫券價格上升,三十年期國庫券孳 息錄得過去四個月以來最大跌幅,因市場憂慮部分歐洲國家將難以削減預算赤字,令環球股市下挫,推動投資者轉投較具防守性的美國國庫券。


但是無論如何,雖然 美國、日本以及歐洲等經濟體仍很脆弱,但在朝正確的方向改進。


我們預期在接下來的 一、兩個月市場價格還會波動,但是對股票市場的正面看法沒有改變,我們看見此時可能正是買入的好時機。






Market Updates: Reason behind Stock Market Trend on 05-Feb, 2010


U.S. stocks dropped, sending the Standard & Poor’s 500 Index down the most since April last year, on disappointing earnings, an unexpected increase in jobless claims and growing concern that Greece, Spain and Portugal will struggle to curb their budget deficits. Bank of America Corp. and Alcoa Inc. lost to lead losses in 29 of 30 Dow Jones Industrial Average stocks.


European stocks plunged the most in two months on concern Portugal, Spain and Greece will have difficulty curbing their budget deficits (concern over European sovereign debt) and as U.S. jobless claims unexpectedly increased.


The debt markets of Europe's so-called peripheral economies also came under pressure as the yield spread between their bonds and Germany, the benchmark market, widened sharply.


Asian stocks fell on concerns the region’s economic recovery may be derailed after Australian retail sales unexpectedly fell and New Zealand’s jobless rate rose to the highest level in more than 10 years.


Concerning that the Chinese government / authorities continue to tighten monetary policy throughout this whole year (based on inflationary and housing speculation pressures), investors perceive China as the “engine of global growth”. Thus, any force slow down in China will have a negative impact on “growth assets”, from equities to commodities, to the Ozzie dollar.


Hong Kong stocks corrected as US/Europe stocks fell along with the rise of worry of economies recovery and metal prices, and mainland banks slid on news that Bank of Communications Co. may need to raise funds.


Brazil stocks sank the most in three months and the real weakened as concern grew that a faltering global recovery will leave developing nations vulnerable.


Treasuries rose, pushing 30-year bond yields down the most in four months, as global stocks fell on concern some European countries face difficulty financing deficits, driving investors to the safety of U.S. debt.


However, Economic situations in the U.S., Japan and Europe are still fragile but are improving.


We are expecting continue price volatility in the next month or two but as our house view of being positive to equities remains unchanged, we see this a good opportunity to buy on dip.



聲明:
上述資料只應作為個人投資風險程度的分析及指引,不應作為 投資結論。
以上資料僅供參考之用,投資選擇過去的業績並不代表將來表現。
由於投資組合頗多元化,加上匯率及利率浮動,投資選擇單位 及收益回報可升亦可跌。



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