CICC Securities in "Great Wall": Even though the performance of domestic silver banks in the third quarter is relatively flat, the outlook for the sector is somewhat positive.
CICC released a report, forecasting a 2% year-on-year decline in revenue and a 1% increase in net profit of listed domestic banks in the third quarter, which is basically the same as the second quarter. Net interest margin remains the main drag on revenue, in line with market expectations. Compared to third-quarter performance, the current market focus is more on the recent implementation and impact of financial stimulus policies. The bank believes that policy catalysis is expected to improve bank asset quality and increase dividend certainty, which are key variables affecting bank stock prices. Therefore, even if performance is relatively flat, the outlook for the sector is positive. The bank points out that the net interest margin of domestic banks is still declining, but the rate of decline is narrowing; bond conversions may lead to another decline in yields. The bank predicts...
State Administration of Gold Supervision: Ensure that the disbursement of loan funds for 'Nei Fang' is done 'as early as possible'. The next step is to include all commodity housing loans in the 'white list'.
Xiao Yuanqi, Deputy Director of the China Banking and Insurance Regulatory Commission, stated at a press conference of the State Council Information Office that the disbursement method of loan funds will be optimized to achieve "early as should be". In the future, with the agreement of commercial banks and real estate project companies, all loans can be advanced to the project fund management account opened by the real estate company. Xiao Yuanqi emphasized that since the beginning of this year, the urban real estate financing coordination mechanism has included compliant real estate projects in the "white list", and the next step is to include all commodity housing project loans in the "white list", ensuring that they are processed promptly.
Hong Kong stocks: Hang Seng Index fell 31 points, mainland real estate stocks surged while consumer stocks softened.
After falling more than 700 points yesterday (the 13th), the Hang Seng Index fluctuated soft today (the 16th), opening low with a 174-point decline before reversing gains, rising to 229 points at 20,548 points, then falling back again before the market close, ending the day with a 31-point or 0.2% decline at 20,286 points; the H shares Index fell by 9 points or 0.1%, closing at 7,267 points; the Hang Seng Tech Index dropped by 48 points or 1.1%, closing at 4,402 points. The total turnover of the market shrank to 208.369 billion yuan for the day. The Ministry of Housing and Urban-Rural Development, together with the People's Bank of China, will hold a press conference tomorrow (the 17th) to promote the development of the real estate market. Mainland real estate stocks surged, with Country Garden (01918.HK) and Sunac China Holding Ltd.
UBS Group's investment rating and target price for China Mainland Banking stocks (Table)
UBS Group released a research report, listing the investment ratings and target prices for China Mainland Banking as follows: Stock | Investment Rating | Target Price (HKD) Bank of China (03988.HK) | Buy | HKD 4.2 Agricultural Bank of China (01288.HK) | Buy | HKD 4.25 China Construction Bank Corporation (00939.HK) | Buy | HKD 6.5 CM Bank (03968.HK) | Buy | HKD 45.5 China CITIC Bank Corporation (00998.HK) | Buy | HKD 6.1 CQRC Bank (03618.HK) | Buy
UBS Group expects stable performance of domestic banks in the third quarter, with the possibility of improved profitability in the second half of the year.
UBS Group released a research report stating that various China mainland banking stocks are expected to sequentially release their third-quarter performance for this year in mid-month. It is expected that the rated China mainland banking stocks will demonstrate stable performance in the third quarter in terms of revenue, pre-provision operating profit (PPOP), and net profit after tax (NPAT), with year-on-year changes of flat, +0.6%, and +3.7%, respectively. The performance of regional banks and state-owned banks may differ. The bank predicts that the revenue and PPOP of state-owned banks in the third quarter are expected to decrease by 1.9% and 1.7% year-on-year, while NPAT is expected to increase by 0.4%, all showing improvement compared to the 3% decrease, 4.9% decrease, and 0.1% increase in the second quarter; while regional banks...
Hong Kong stock's unusual movement | Mainland China banking stocks rose in early trading. It is rumored that Chinese banks are about to lower deposit rates again in the near future. The industry expects there is still room for further decline.
China mainland banking stocks opened higher. As of the time of publication, Postal Savings Bank of China (01658) rose by 3% to 4.81 Hong Kong dollars; Bank of Communications (03328) rose by 2.5% to 6.16 Hong Kong dollars; CM Bank (03968) rose by 2.43% to 40 Hong Kong dollars; Bank of China (03988) rose by 2.39% to 3.86 Hong Kong dollars.