Market Brief

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吳子青先生 (Andrew Ng)

2943 7466


Monday, December 17, 2018 Views781

不少客戶都對我說, 新股市場越來越難賺錢, 筆者也發現的確如此, 其實投資市場沒可能一本通書讀到老, 這麼多年來抽新股的玩法也一直在轉變, 現在不妨來一個總結:



炒新上市殼股在前幾年可以說是非常熱烈, 只要市值在六億以下, 無論什麼都能炒一輪, 不過隨着這幾年不斷有殼股上市, 現階段已經是極度供過於求, 將來也不會再是炒作的賣點.



很多客戶都會用孖展認購新股以增加獲派發股數, 從而增加利潤, 不過現在這做法也有所保留, 由於越來越多人懂得利用孖展, 所以分派比率越來越不理想, 但是破發的股票, 獲分派的數量卻特別多. 在另一方面, 加息環境下利息成本也越來越高, 所以現在人頭戰術比較有利.



在過往很多年, 中資背景的企業上市後股價上漲的機會非常高, 不過現在這情況也有所轉變, 由於中資企業已開始找中資保薦人, 定價也比以前高, 所以上市後股價沒有太多上升空間.



以前高超購倍數往往意味着需求大, 現在卻被理解為散戶持貨太多, 反而不一定上漲. 甚至如果超購在50-100倍這個死亡倍率, 下跌幅度可以相當大.


總結而言, 之前的抽新股策略不一定能再成功, 反而有客戶每隻也小注認購, 取其平均數值, 反而有所收獲, 有見及此, 輝立推出'新股認購易' 方便客戶認購新股, 具體情況可留意輝立官網或向客戶主任查詢.


注: 本人吳子青為証監會持牌人士。截至本評論文章發表日止, 本人及/或其有聯繫者並無持有全部提及之証券的所有相關財務權益


This report is produced and is being distributed in Hong Kong by Phillip Securities Group with the Securities and Futures Commission (“SFC”) licence under Phillip Securities (HK) LTD and/ or Phillip Commodities (HK) LTD (“Phillip”). Information contained herein is based on sources that Phillip believed to be accurate. Phillip does not bear responsibility for any loss occasioned by reliance placed upon the contents hereof. The information is for informative purposes only and is not intended to or create/induce the creation of any binding legal relations. The information provided do not constitute investment advice, solicitation, purchase or sell any investment product(s). Investments are subject to investment risks including possible loss of the principal amount invested. You should refer to your Financial Advisor for investment advice based on your investment experience, financial situation, any of your particular needs and risk preference. For details of different product's risks, please visit the Risk Disclosures Statement on Phillip (or employees) may have positions/ interests in relevant investment products. Phillip (or one of its affiliates) may from time to time provide services for, or solicit services or other business from, any company mentioned in this report. The above information is owned by Phillip and protected by copyright and intellectual property Laws. It may not be reproduced, distributed or published for any purpose without prior written consent from Phillip.
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