China Mainland Banks
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In a rare move, a state-owned bank has lowered the minimum repayment ratio for China Construction Bank Corporation credit cards to 5%, while most banks in the market still maintain a 10% rate.
① Today, China Construction Bank Corporation announced on its official website that starting today, the minimum repayment ratio for all Long Card Transformers credit cards has been adjusted from 10% to 5%. ② Not long ago, Bank Of Xi'An made a similar adjustment, but currently, the minimum repayment amount for most commercial banks' credit cards is still 10%. ③ In recent years, especially this year, credit card business personnel have faced considerable pressure. It is reasonable for banks to make adjustments in their credit card business.
As the Spring Festival approaches, many banks are adjusting their rules to cope with the peak of Overseas travel. After China Everbright Bank set card limit, Hankou Bank has closed magnetic stripe Trade.
On December 24, Hankou Bank announced on its official website that it will completely close magnetic strip chip composite debit card transactions overseas. This follows a previous adjustment by China Everbright Bank regarding the overseas card limit, marking another bank adjusting its overseas card transaction policies; With the Spring Festival holiday approaching, overseas travel will peak, and banks adjusting the related overseas card Consumer rules will help protect customers' funds.
Which bank has the highest dividend yield, and when will the interim dividend arrive?
China Merchants stated that in the A-share market, Ping An Bank, China Zheshang Bank, Xiamen Bank Co.,Ltd., and Bank of Shanghai have high dividend yields; the H-shares of China Construction Bank Corporation, Bank Of Communications, Chongqing Rural Commercial Bank, and Bank Of China also have relatively high dividend yields.
Who will be the first to implement the expectations of a reserve requirement ratio cut and interest rate reduction? Industry predictions suggest that the likelihood of a reserve requirement ratio cut by the end of the year is high, while the interest rate
① Currently, it has entered the observation period for policy effects, and the signals for reserve requirement ratio and interest rate cuts are unclear. The probability of an interest rate cut this week is low, but the likelihood of a reserve requirement cut before the end of the year is higher, and the interest rate cut may have to wait until 2025 for a suitable opportunity; ② A domestic interest rate cut may further increase short-term Exchange Rates pressure, and the probability of a short-term reserve requirement cut is greater than that of an interest rate cut. Recently, the Renminbi's exchange rate against the US dollar has declined, reflecting more of a passive depreciation nature.
Outperforming 92% of stocks within the year! The four major banks have reached a new high again, and this month they have all faced Shareholding reductions by financing clients.
① Today, the stock prices of the four major banks collectively reached new historical highs, with an average increase of nearly 47% year-to-date, outperforming 92% of individual stocks in the same period. ② Excluding new stock situations, there were 10 stocks that reached historical highs today, most of which, apart from the four major banks, are CNI Mid-Small Cap.Index stocks, with a relatively higher number in the Transportation sector. ③ This month, all four major banks experienced Shareholding by financing customers, with the Industrial And Commercial Bank Of China having nearly 0.2 billion yuan net sell-out in financing this month.
A50 and A-shares in Hk continue to rise, and the Hang Seng Index has returned to 20,000 points! Institutions: The "spring excitement" has arrived.
On December 19th, the three major A-shares indexes opened low and rose high during the day. By lunchtime, the Shanghai Composite Index was up 0.68% at 3,374.18 points, the Shenzhen Component Index was up 0.71%, and the Chinext Price Index was up 0.61%. The Hong Kong stocks also strengthened during the day, with the Hang Seng Index rising over 1% to return to the 0.02 million point level, and the Hang Seng TECH Index rising 1.2%.
The four major banks' stock prices in A-shares have all reached new highs, with the Agricultural Bank Of China in Hong Kong rising by nearly 3%! Foreign capital is significantly increasing its holdings in bank stocks.
When market structure and investment expectations diverge, dividend Assets become the focus due to their inherent stability.
Express News | Hong Kong stocks of China Mainland Banking rose across the board, with Agricultural Bank Of China increasing by over 3%, China CITIC Bank Corporation rising nearly 3%, and Bank Of China gaining more than 2%. All three banks reached historical highs.
Daily Bull and Bear | The Hang Seng Index night futures rose slightly, with bear certificates betting continuing to increase at 20,300 points; Morgan Stanley: This week's Hong Kong stock warrants deployment needs to consider time value decay.
As of the market close, the total market turnover was 127.3 billion HKD, with a total turnover of 9.2 billion HKD for all warrants and callable bull/bear contracts, accounting for 7.2% of the total market turnover, of which the long positions accounted for 4.4% and the short positions accounted for 2.9%. Additionally, all warrants and callable bull/bear contracts saw a net inflow of 0.387 billion HKD.
The only wholly foreign-owned consumer finance company will change ownership, with JD.com leading the acquisition of 65% of the shares in Home Credit, and foreign trade REITs and BANK OF TIANJIN taking stakes.
① Among the 5 newly introduced Shareholders, the top two Shareholders are both from entities under JD.com, collectively holding 65% of the shares of Jiexin Consumer Finance. ② Individuals close to BANK OF TIANJIN revealed that investing in Jiexin Consumer Finance is due to the large consumer scenarios of JD.com. This move can also enhance the Technology gene of BANK OF TIANJIN.
In order to respond to the "intense battle" next year? At the end of the year, many Banks are making intensive adjustments to their Business structure, and the special mechanism for the "five major articles" is gradually being established.
① First, merging the functions of the head office departments clearly indicates a reduction in costs and an increase in efficiency; second, a special department dedicated to the five major articles is being established. ② Retailing Crediting may become one of the focal points for Banks next year. ③ It is expected that the special institutions for the five major articles will be established gradually, as each one matures.
The LPR Quote for December has been released! The 1-year and 5-year rates remain unchanged.
More news, continuously updating.
History repeats itself! The proposal for share issuance by the Bank Of Zhengzhou was opposed by 28.4% of attending Listed in Hong Kong Shareholders, and Hong Kong stock investors have repeatedly expressed contrary opinions.
① The proposal for general authorization to issue shares by the Bank Of Zhengzhou was opposed by 28.4% of attending H Shareholders. ② Although issuing additional shares can attract external capital injection, it may dilute the equity of existing shareholders to some extent. ③ The proposal for the profit distribution plan of the Bank Of Zhengzhou for 2023 faced opposition from 83.111365% of attending H Shareholders, but it was ultimately approved smoothly.
The central bank's discussions with some "aggressive trading" Institutions have shaken the market; who are the Block Orders in this round of bond bull market? State-owned large banks have received the most "attention".
① The central bank's morning consultations mainly involved Institutions based in Beijing, with very few Institutions from other cities attending the meeting, including cities like Shanghai where asset management Institutions are concentrated. ② In the past two weeks, the Block Buy Institutions for 10-year government bonds have shifted from Fund to Banks. ③ As incremental policies come into effect, the likelihood of economic stabilization increases, necessitating a reduction in expectations for the bond market in 2025.
Interest rates can reach 3%! Small and medium-sized Banks have densely launched high-interest products such as large-denomination certificates of deposit and special deposits. How will the pressure for short-term deposit strategies be relieved in the futu
① Some small and medium-sized Banks have engaged in such behavior, which somewhat contradicts the current downward trend of deposit interest rates, possibly being a short-term strategy taken to meet the funding Indicators in the short term. ② The overall trend of deposit interest rates may continue to decline in the future, and the recent rapid decline in bond market interest rates may also face some adjustments.
Encouraging to "seize the opportunities of moderately loose MMF policy," many local officials are intensively researching local Banks at the end of the year, is a good start for next year to be expected.
① In discussions with local officials, frequently mentioned keywords include comprehensive, accelerated, risk, and servicing the local economy. ② For Financial Institutions, "the moderately loose monetary policy from the central government brings opportunities while also posing challenges." ③ If some mechanisms for due diligence exemption can be provided, it is expected to ease the lending pressure on Banks.
Annual Review | The top ten high-yield Hong Kong stocks for 2024 have been released! The Aluminum stock CHINAHONGQIAO has doubled in price this year, and several Banks stocks are benefiting from both finance and interest.
Looking back at 2024, with the ongoing changes in the Global macroeconomic environment and the continuous deepening of reforms in China Capital Markets, the Hong Kong stock market has encountered new challenges and opportunities. Against this backdrop, the adjustment in policy direction and changes in market demand have jointly promoted further improvements in the dividend policies of listed companies, leading to a significant rise in the status of high dividend strategies in the Hong Kong stock market.
Once again, the rights of high-end customers at banks have shrunk. After Construction Bank, MINSHENG BANK has adjusted the "Extraordinary Privileges" redemption rules, with cost reduction still being the core demand.
On December 16, MINSHENG BANK announced on its official website that in the first quarter of next year, it plans to adjust some rules for the extraordinary privileges program for retail customers, including an increase in points accumulation for services such as airport and High-speed Rail transfers. It is not surprising that multiple banks continue to adjust their credit card points redemption rules. The fundamental reason lies in the pressure of interest margins, which continues to dilute the banks' profits, forcing them to 'reduce costs and increase efficiency.'
Liu Yonghao has taken action! Acquired 17.61 million H shares of MINSHENG BANK, increasing the shareholding ratio to 5%. This round of Shareholding will reach 68 million shares.
① New Hope Liuhe has increased its shareholding in MINSHENG BANK by 17,616,500 shares of Listed in Hong Kong using its own funds on December 16, 2024, which accounts for 0.04% of MINSHENG BANK's total shares. ② The total number of shares increased through the secondary market in this round is not more than 68,000,000 shares. After the increase, New Hope Liuhe and its concerted parties will hold no more than 5.12% of the shares in total.
The interest rates of the same industry certificates of deposit are rapidly declining, and under "moderately loose" conditions, there is hope to drop to 1.30%.
1. After the improvement in MMF transmission efficiency, the CD interest rate and the 7-day OMO rate will integrate within the next year. 2. Due to the faster decline of long-term bonds, the spread between the 10Y government bond and the 1Y CD has been compressing, and is currently at 13BP.