Express News | Superior Aviation: Subsidiary files a 60 million yuan lawsuit.
Express News | 27 Shenzhen companies have been listed in the 2024 Fortune Global 500. Ping An Insurance's revenue has exceeded one trillion, and BYD's ranking has significantly improved.
In "Da Hang", CICC lists the top 20 total market capitalization of Chinese-funded stocks, adjusts the net profit forecast based on year-on-year growth rate (table).
CICC's report stated that, based on comparable caliber and denominated in Hong Kong dollars, the profits of overseas Chinese-funded stocks in the first half of the year increased by 2.3% year-on-year, accelerating from 0.2% in 2023, and outperforming A-shares. Internet e-commerce experienced high growth, while the export chain and metal were bright spots, with real estate and banks dragging down. In the first half of this year, the profits of overseas Chinese-funded stocks in the financial industry declined by 1.1% year-on-year (compared to a 2.7% drop in 2023), while the non-financial sector saw growth of 6.3% (compared to a 3.9% increase in 2023).
Morgan Stanley reduced its shareholding of cm bank (03968) by 11.9022 million shares at an approximate price of HK$31.19 per share.
On September 3rd, Morgan Stanley reduced its shareholding in CM Bank (03968) by 11.9022 million shares, with a price of HKD 31.1912 per share, for a total amount of approximately HKD 0.371 billion.
The Hang Seng Index fell 247 points, with property and commodity stocks leading the decline. Nio Inc. rose 13%.
Market concerns about the economic outlook of China and the usa, with the usa adding 0.142 million non-farm jobs in August, falling short of expectations, and China's CPI rising 0.6% year-on-year in August, lower than expected, while PPI fell 1.8% year-on-year, exceeding expectations. The Hang Seng Index (9th) fell. The Hang Seng Index opened low by 182 points and the decline expanded. In the afternoon, it fell by 376 points to 17,067 points, down 247 points or 1.4% for the whole day, closing at 17,196 points; the National Index fell by 102 points or 1.7%, closing at 6,002 points; the Hang Seng Tech Index fell by 51 points or 1.5%, closing at 3,436 points. The Hang Seng Index series quarterly review and weight adjustment take effect today, with the full-day market turnover.
Major rating | JPMorgan: Lowered cm bank's December target price to 42 Hong Kong dollars but maintains a 'shareholding' rating.
格隆汇 September 9th | JPMorgan released a report stating that after cm bank announced its second-quarter performance this year, in order to reflect the related trends, it decided to lower the net interest margin forecast for cm bank in 2024 to 2026 by 3, 7, and 7 basis points, to reflect the narrowing of its second-quarter net interest margin. The bank also slightly raised cm bank's fee income forecast for this year by 0.3%, but lowered the fee income forecasts for 2025 and 2026 by 2.5% and 5.2% respectively, reflecting the continued pressure on fee income from reduced bank insurance and mutual fund expenses. JPMorgan has lowered the target price for cm bank from HK$46 to HK$42 by December next year.