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Financial Tips: 市況速遞 26/4

Apr 26, 2010 , Posted by Diamond Recruit at 10:37 AM



美國証交會V.S.高盛
美國証交會於上週對高盛提出一項涉嫌債務抵押債券(CDO)的欺詐指控。美國及歐洲股市下挫。
 

此時,該事件對高盛來説自然對其有負面影響。但是,其負面影響對整個股票市場卻是非理性的。
 

對美國及歐洲股市的影響要大於亞洲股市。因爲大部分西方銀行是CDO的主要分銷商。
 

無論如何,高盛事件可能在美國促發更多的金融監管。所以,金融行業類股票在長遠來看由於越來越嚴格的監管而受壓。
 

只要基本面因素,如經濟及公司盈利正面,我們看好買入亞洲股票。

美國市場
美國股市錄得自2月以來最大跌幅,因證券交易委員會指控Goldman Sachs Group Inc涉及欺詐,導致市場憂慮金融危機餘波尚未告一段落。

美國建築商於3月份興建更多房屋,及建築許可以逾1年以來最快的速度增長,顯示建築商對銷售回穩充滿信心。

歐洲市場
歐洲股市於7週以來首都下跌,因美國監管機構指控Goldman Sachs Group Inc涉及欺詐及消費者信心意外下跌,抵銷歐盟達成援助希臘協議的利好因素。


日本市場
日本股市下跌,日經225平均指數創下近兩個月以來最大跌幅,因美國首次申領失業救濟人數意外上升,及中國推出措施為房地產市場降溫。


亞太市場

亞洲股市下跌,摩根士丹利亞太指數自20個月以來最高位回落,因中國此前推出措施為房地產市場降溫、美國首次申領失業救濟人數意外上升及商品價格下跌。

台灣加權指數下跌。Capital Securities Corp.及Taiwan International Securities Corp下跌,因Commercial Times報導,Capital可能收購Taiwan International Securities,但未有透露消息來源。Far Eastern Department Stores上升至自2月1日以來最高水平,因台灣地方法院判決,該公司董事長徐旭東享有Sogo合法控制權

南韓Kospi指數下跌。晶片股方面,Samsung Electronics Co.及Hynix Semiconductor Inc下跌。根據Dramexchange Technology Inc的資料顯示,基準DRAM記憶體價格於跌至自3月22日以來最低水平。

南韓3月份百貨公司銷售連續第13個月上升,因傢俱及家電需求增加。


中國/香港
中國股市下跌,連續第2週的跌幅擴大,因市場憂慮政府將會採取進一步行動為該全球增長最快的主要經濟體系降溫。股指期貨首日進行交易。

香港股市下跌,恆生指數於3週以來首度錄得單週跌幅。中資地產股領跌,因中國推出更多措施為房地產市場降溫。

新興市場
巴西股市創下近兩週以來最大跌幅,此前中國採取行動為房地產投機性活動降溫,及美國監管機構指控Goldman Sachs Group Inc涉及欺詐,拖累環球股市下滑。

債券市場
美國國庫券第2週上升,因消費者信心下跌及證券交易委員會指控Goldman Sachs Group Inc涉及欺詐,增加美國國庫券作為避險港的需求。

 

US SFC V.S. Goldman Sachs
Securities and Exchange Commission (SEC) sued Goldman Sachs for fraud on collateralized debt obligations (CDO) last week. Equities market in the US and Europe tumbled.
 

At the moment, the issue is still company-specific to Goldman Sachs and certainly negatively impacting the company. But, its impact on overall equities markets is sentimental.
 

Impact on the US and Europe equities markets would be greater than Asia equities markets as Western banks were main players in selling CDOs.
 

However, Goldman Sachs incident may trigger more stringent financial regulation in the US. Therefore, financial sector may be under pressure in the long term due to stricter regulation.
 

As long as fundamentals factors, such as economic and corporate earnings growth, are still supportive, we maintain our “buy-on-dip” strategy favoring Asia equities.

U.S. Market
U.S. stocks tumbled the most since February as Securities and Exchange Commission fraud accusations against Goldman Sachs Group Inc. spurred concern the fallout from the financial crisis isn’t over.

Builders broke ground on more U.S. homes in March than anticipated and took out permits at the fastest pace in more than a year, a sign of growing confidence that sales will stabilize.

European Market
U.S. stocks tumbled the most since February as Securities and Exchange Commission fraud accusations against Goldman Sachs Group Inc. spurred concern the fallout from the financial crisis isn’t over.

Builders broke ground on more U.S. homes in March than anticipated and took out permits at the fastest pace in more than a year, a sign of growing confidence that sales will stabilize.


Japan Market
Japanese stocks fell, dragging down the Nikkei 225 Stock Average by the most in almost two months, as U.S. jobless claims unexpectedly increased and China announced measures to cool its real-estate market.

Asia / Pacific Market
Asian stocks fell, dragging the MSCI Asia Pacific Index from a 20-month high, after China announced measures to cool its property market, U.S. jobless claims unexpectedly rose and commodity prices dropped.

Taiwan’s Taiex index fell. Capital Securities Corp. and Taiwan International Securities Corp. declined. Capital may acquire Taiwan International Securities Corp., the Commercial Times reported, without saying where it got the information. Far Eastern Department Stores Ltd. rose to the highest since Feb. 1, after the Taipei district court ruled Chairman Douglas Hsu has legal control of the Sogo brand of shops in Taiwan.

South Korea’s Kospi index fell. Chipmakers: Samsung Electronics Co. and Hynix Semiconductor Inc. declined. Prices of the benchmark dynamic random access memory, or DRAM, chips fell on Thursday, the lowest since March 22, according to Dramexchange Technology Inc.

Sales at South Korea’s major department stores advanced for a 13th straight month in March, driven by demand for furniture and home appliances.

China/ Hong Kong Market
China’s stocks fell, extending declines to a second week, on concern the government will take stronger measures to slow the world’s fastest-growing major economy. Stock-index futures rose on the first day of trading.

Hong Kong stocks fell, dragging down the benchmark index to its first weekly drop in three, as Chinese developers led declines after the nation stepped up measures to cool its property market.


Emerging Markets
Brazilian stocks fell the most in almost two months after China moved to cool property speculation and a fraud lawsuit against Goldman Sachs Group Inc. spurred a global equities rout.

Bond Market
Treasuries gained for a second week as consumer confidence fell and the Securities and Exchange Commission charged Goldman Sachs Group Inc. with fraud, increasing the refuge appeal of U.S. government securities.

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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