智通财经APP获悉，煤炭股午后涨幅扩大，截至发稿，中煤能源(01898)涨3.96%，报7.88港元；兖煤澳大利亚(03668)涨3.42%，报24.2港元；兖矿能源(01171)涨2.66%，报8.09港元；中国神华(01088)涨1.46%，报31.2港元。
华福证券指出，关税对煤炭的冲击主要体现在短期经济的压力，中期潜在的内需刺激政策值得期待，对冲之下煤炭作为内需为主的品种受影响偏小，展望远期，国际关系持续复杂使得能源安全意义重大，以煤为核心的能源基础或将更为突出。随着煤价企稳，当前核心标的股息率较为突出，中国神华 2024 分红比例再度提升，3 月 26 日瑞众人寿公告举牌神华 H 股反映当前煤炭具备长期配置价值。
开源证券表示，考虑到关税政策或对中国出口及国内经济造成影响，降准降息有望加速落地，利率下行叠加市场风格转向防御属性或利好红利风格；此外为对冲进口影响，国内消费、地产及基建投资政策或有加码，有望进一步拉动国内煤炭需求。
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