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道富:5月機構投資者風險偏好指標高位回落 資管機構股票配置比例創2000年以來新高
道富市場今日(8日)公佈機構投資者指標。道富機構投資者風險偏好指標在5月仍處於正值區間,但較4月高位已明顯回落。幾乎所有資產類別的市場情緒均趨有所降溫,唯有外匯市場整體保持平穩。即便如此,極端持倉水平仍處於高位,這表明儘管市場情緒逐步趨向中性,投資者對風險資產前景仍抱有信心。過去一個月,股票配置小幅上升1個百分點,主要由現金流出提供資金;而剔除國庫券後的固定...
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道富:5月機構投資者風險偏好指標高位回落 資管機構股票配置比例創2000年以來新高
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道富市場今日(8日)公佈機構投資者指標。道富機構投資者風險偏好指標在5月仍處於正值區間,但較4月高位已明顯回落。幾乎所有資產類別的市場情緒均趨有所降溫,唯有外匯市場整體保持平穩。即便如此,極端持倉水平仍處於高位,這表明儘管市場情緒逐步趨向中性,投資者對風險資產前景仍抱有信心。

過去一個月,股票配置小幅上升1個百分點,主要由現金流出提供資金;而剔除國庫券後的固定收益配置基本保持不變。整體來看,機構投資者整體持倉結構穩定,主要資產類別間僅出現有限的再配置。

道富市場高級宏觀策略師Noel Dixon表示,截至5月末,資管機構股票配置比例創下2000年以來新高。當月股票持倉提升1個百分點,資金源自現金;固定收益資產配置則整體持平。投資者持續增持美股,其仍為最大的超配資產。美國市場內部,醫療保健、公用事業、信息技術的配置有所上升;而通信服務、能源及房地產板塊持的配置則下降。

5月歐洲股市市場情緒持續低迷,該行的20天資金淨流向指標處於底部十分位區間,投資者仍顯著低配歐洲股票。亞洲股市持續受益於AI領域的資本開支熱潮,其中北亞市場憑藉亮眼的盈利表現與資金流入保持向好態勢。

該行稱,儘管美國多項經濟資料意外走強,但利率市場仍僅定價年內聯儲局加息一次,相較於其他主要央行,這一政策預期較為溫和。與此同時,歐元資金流向在5月由月初淨流入轉為淨流出。中東衝突加劇了市場對歐洲經濟前景的擔憂,進而削弱了市場對歐洲資產的需求。亞太市場中,韓圜、離岸人民幣、菲律賓比索買盤最為強勁,泰銖、印尼盾、馬來西亞林吉特則出現小幅淨流出。(da/u)

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