中信证券：AH溢价指数持续走低反映内地低利率环境下的H股重估

新华财经2025-07-18

新华财经北京7月18日电中信证券研报认为，2025年以来，AH溢价指数持续走低，反映内地政策转向和低利率环境下南向资金对H股的重新定价。自2024年“9.24”行情起，南向资金大幅流入港股，成交占比显著提升，显示港股低估绩优龙头对内地资金吸引力增强。AH股H指数中目前南向与中资持仓占比达50%，险资大量买入银行板块是AH溢价指数下行主因。险资配置银行H股动力充足，且银行板块AH溢价仍有下行空间，...

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中信证券：AH溢价指数持续走低 反映内地低利率环境下的H股重估

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中信证券：AH溢价指数持续走低反映内地低利率环境下的H股重估