中信建投：港股迎来春节后第一次做多机会

智通财经03-30

中信建投发布研报称，当前港股仍处于牛市进程中的阶段性调整，外部扰动不改中期修复趋势，港股牛市格局有望延续，后续仍具备明确的投资机会。若后续外部冲击不再进一步升级，港股大概率脱离调整区间、重回震荡抬升通道，本轮行情后续也将从前期估值驱动切换至盈利驱动，主线聚焦结构性优质机会。配置上，互联网与AI平台是第一主线，高流动性科技龙头是第二主线，创新药与新消费是最有弹性的两个景气方向;红利只能缩圈精选，不能...

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应哥仔
03-30
应哥仔
中信被套
上帝不离不弃
03-30
上帝不离不弃
噢？特朗普不是马上要安排地面部队了吗？

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href=https://www.zhitongcaijing.com/content/detail/1421617.html><strong>智通财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>中信建投发布研报称，当前港股仍处于牛市进程中的阶段性调整，外部扰动不改中期修复趋势，港股牛市格局有望延续，后续仍具备明确的投资机会。若后续外部冲击不再进一步升级，港股大概率脱离调整区间、重回震荡抬升通道，本轮行情后续也将从前期估值驱动切换至盈利驱动，主线聚焦结构性优质机会。配置上，互联网与AI平台是第一主线，高流动性科技龙头是第二主线，创新药与新消费是最有弹性的两个景气方向;红利只能缩圈精选，不能...</p>\n\n<a 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0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n中信建投：港股迎来春节后第一次做多机会\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-03-30 13:40 北京时间&nbsp;&nbsp;&nbsp;<a href=https://www.zhitongcaijing.com/content/detail/1421617.html><strong>智通财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>中信建投发布研报称，当前港股仍处于牛市进程中的阶段性调整，外部扰动不改中期修复趋势，港股牛市格局有望延续，后续仍具备明确的投资机会。若后续外部冲击不再进一步升级，港股大概率脱离调整区间、重回震荡抬升通道，本轮行情后续也将从前期估值驱动切换至盈利驱动，主线聚焦结构性优质机会。配置上，互联网与AI平台是第一主线，高流动性科技龙头是第二主线，创新药与新消费是最有弹性的两个景气方向;红利只能缩圈精选，不能...</p>\n\n<a href=\"https://www.zhitongcaijing.com/content/detail/1421617.html\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/0cf777090175126e4590c3b8afdfe41e","relate_stocks":{"HSTECH":"恒生科技指数","HSCEI":"国企指数","HSI":"恒生指数"},"source_url":"https://www.zhitongcaijing.com/content/detail/1421617.html","is_english":false,"share_image_url":"https://static.laohu8.com/6ca2dcdccfa2217fb20a0351f4efe814","article_id":"2623395021","content_text":"中信建投发布研报称，当前港股仍处于牛市进程中的阶段性调整，外部扰动不改中期修复趋势，港股牛市格局有望延续，后续仍具备明确的投资机会。若后续外部冲击不再进一步升级，港股大概率脱离调整区间、重回震荡抬升通道，本轮行情后续也将从前期估值驱动切换至盈利驱动，主线聚焦结构性优质机会。配置上，互联网与AI平台是第一主线，高流动性科技龙头是第二主线，创新药与新消费是最有弹性的两个景气方向;红利只能缩圈精选，不能再用普涨思维参与。中信建投主要观点如下：近三个月港股调整的核心原因有三：一是流动性预期收紧，美联储换届叠加美国再通胀预期升温，市场下调降息预期，美债收益率、美元指数走强，压制港股这类离岸市场估值。二是地缘与外资避险，中东冲突升级推升油价与通胀担忧，全球避险情绪升温，外资集中收缩亚太市场风险敞口，港股外资流出压力凸显。三是交易结构拥挤，前期科技、互联网板块资金扎堆，拥挤度偏高，外部扰动下率先遭获利减仓，形成短期负反馈，属于筹码层面调整，非基本面恶化。从大周期看，港股已走出低位估值修复阶段，正式迈入牛市中后段，前期单边普涨行情终结，后续行情全面转向盈利驱动的结构性分化，业绩与景气度将成为核心选股标准。交易端采用分层布局策略，适配震荡抬升走势：底仓趁当前估值低位，提前分批布局核心龙头锁定筹码;确认仓等待业绩兑现、外部冲击缓和两大信号再加仓;回撤仓把握风险事件带来的错杀机会逆向布局，严控仓位兼顾攻防，规避情绪化操作。配置上，互联网与AI平台是第一主线，高流动性科技龙头是第二主线，创新药与新消费是最有弹性的两个景气方向；红利只能缩圈精选，不能再用普涨思维参与。","news_type":1,"symbols_score_info":{"HSI":2,"HSCEI":2,"HSTECH":2}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":548160033470480,"gmtCreate":1774851690155,"gmtModify":1774851778666,"author":{"id":"4200638915699862","authorId":"4200638915699862","name":"上帝不离不弃","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","vip":1,"hat":"https://static.tigerbbs.com/b0a2963eb37c60c5d6d4a8dbcd266952","crmLevel":7,"crmLevelSwitch":1,"authorIdStr":"4200638915699862","idStr":"4200638915699862"},"htmlText":"噢？特朗普不是马上要安排地面部队了吗？","listText":"噢？特朗普不是马上要安排地面部队了吗？","text":"噢？特朗普不是马上要安排地面部队了吗？","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/548160033470480","repostId":2623395021,"repostType":4,"repost":{"id":"2623395021","kind":"live","pubTimestamp":1774849225,"share":"https://www.laohu8.com/m/news/2623395021?lang=zh_CN&edition=full","pubTime":"2026-03-30 13:40","market":"hk","language":"zh","title":"中信建投：港股迎来春节后第一次做多机会","url":"https://stock-news.laohu8.com/highlight/detail?id=2623395021","media":"智通财经","summary":"不能再用普涨思维参与。","content":"<html><head></head><body><p>中信建投发布研报称，当前港股仍处于牛市进程中的阶段性调整，外部扰动不改中期修复趋势，港股牛市格局有望延续，后续仍具备明确的投资机会。若后续外部冲击不再进一步升级，港股大概率脱离调整区间、重回震荡抬升通道，本轮行情后续也将从前期估值驱动切换至盈利驱动，主线聚焦结构性优质机会。配置上，互联网与AI平台是第一主线，高流动性科技龙头是第二主线，创新药与新消费是最有弹性的两个景气方向;红利只能缩圈精选，不能再用普涨思维参与。</p><p style=\"text-align: justify;\"><strong>中信建投主要观点如下：</strong></p><p style=\"text-align: justify;\"><strong>近三个月港股调整的核心原因有三：</strong>一是流动性预期收紧，美联储换届叠加美国再通胀预期升温，市场下调降息预期，美债收益率、美元指数走强，压制港股这类离岸市场估值。二是地缘与外资避险，中东冲突升级推升油价与通胀担忧，全球避险情绪升温，外资集中收缩亚太市场风险敞口，港股外资流出压力凸显。三是交易结构拥挤，前期科技、互联网板块资金扎堆，拥挤度偏高，外部扰动下率先遭获利减仓，形成短期负反馈，属于筹码层面调整，非基本面恶化。</p><p style=\"text-align: justify;\"><strong>从大周期看，港股已走出低位估值修复阶段，正式迈入牛市中后段，前期单边普涨行情终结，后续行情全面转向盈利驱动的结构性分化，业绩与景气度将成为核心选股标准。</strong>交易端采用分层布局策略，适配震荡抬升走势：底仓趁当前估值低位，提前分批布局核心龙头锁定筹码;确认仓等待业绩兑现、外部冲击缓和两大信号再加仓;回撤仓把握风险事件带来的错杀机会逆向布局，严控仓位兼顾攻防，规避情绪化操作。</p><p style=\"text-align: justify;\">配置上，<strong>互联网与AI平台是第一主线，高流动性科技龙头是第二主线，创新药与新消费是最有弹性的两个景气方向</strong>；红利只能缩圈精选，不能再用普涨思维参与。</p></body></html>","source":"live_zhitongcaijing","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>中信建投：港股迎来春节后第一次做多机会</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ 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0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n中信建投：港股迎来春节后第一次做多机会\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-03-30 13:40 北京时间&nbsp;&nbsp;&nbsp;<a href=https://www.zhitongcaijing.com/content/detail/1421617.html><strong>智通财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>中信建投发布研报称，当前港股仍处于牛市进程中的阶段性调整，外部扰动不改中期修复趋势，港股牛市格局有望延续，后续仍具备明确的投资机会。若后续外部冲击不再进一步升级，港股大概率脱离调整区间、重回震荡抬升通道，本轮行情后续也将从前期估值驱动切换至盈利驱动，主线聚焦结构性优质机会。配置上，互联网与AI平台是第一主线，高流动性科技龙头是第二主线，创新药与新消费是最有弹性的两个景气方向;红利只能缩圈精选，不能...</p>\n\n<a href=\"https://www.zhitongcaijing.com/content/detail/1421617.html\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/0cf777090175126e4590c3b8afdfe41e","relate_stocks":{"HSTECH":"恒生科技指数","HSCEI":"国企指数","HSI":"恒生指数"},"source_url":"https://www.zhitongcaijing.com/content/detail/1421617.html","is_english":false,"share_image_url":"https://static.laohu8.com/6ca2dcdccfa2217fb20a0351f4efe814","article_id":"2623395021","content_text":"中信建投发布研报称，当前港股仍处于牛市进程中的阶段性调整，外部扰动不改中期修复趋势，港股牛市格局有望延续，后续仍具备明确的投资机会。若后续外部冲击不再进一步升级，港股大概率脱离调整区间、重回震荡抬升通道，本轮行情后续也将从前期估值驱动切换至盈利驱动，主线聚焦结构性优质机会。配置上，互联网与AI平台是第一主线，高流动性科技龙头是第二主线，创新药与新消费是最有弹性的两个景气方向;红利只能缩圈精选，不能再用普涨思维参与。中信建投主要观点如下：近三个月港股调整的核心原因有三：一是流动性预期收紧，美联储换届叠加美国再通胀预期升温，市场下调降息预期，美债收益率、美元指数走强，压制港股这类离岸市场估值。二是地缘与外资避险，中东冲突升级推升油价与通胀担忧，全球避险情绪升温，外资集中收缩亚太市场风险敞口，港股外资流出压力凸显。三是交易结构拥挤，前期科技、互联网板块资金扎堆，拥挤度偏高，外部扰动下率先遭获利减仓，形成短期负反馈，属于筹码层面调整，非基本面恶化。从大周期看，港股已走出低位估值修复阶段，正式迈入牛市中后段，前期单边普涨行情终结，后续行情全面转向盈利驱动的结构性分化，业绩与景气度将成为核心选股标准。交易端采用分层布局策略，适配震荡抬升走势：底仓趁当前估值低位，提前分批布局核心龙头锁定筹码;确认仓等待业绩兑现、外部冲击缓和两大信号再加仓;回撤仓把握风险事件带来的错杀机会逆向布局，严控仓位兼顾攻防，规避情绪化操作。配置上，互联网与AI平台是第一主线，高流动性科技龙头是第二主线，创新药与新消费是最有弹性的两个景气方向；红利只能缩圈精选，不能再用普涨思维参与。","news_type":1,"symbols_score_info":{"HSI":2,"HSCEI":2,"HSTECH":2}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"}],"isCommentEnd":true,"newsSizeData":{"likeSize":3,"commentSize":2,"repostSize":4,"favoriteSize":2,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 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