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港股异动 | 东亚银行(00023)跌近4%领跌香港银行股 小摩预计香港银行股2024财年盈利增长势头放缓

Changes in Hong Kong stocks | Bank of East Asia (00023) falls by nearly 4%, leading the decline in Hong Kong bank stocks Komo expects Hong Kong bank stock earnings growth to slow in FY2024

Zhitong Finance ·  11/10/2023 13:46

Bank stocks in Hong Kong declined collectively. As of press release, Bank of East Asia (00023) fell 3.63% to HK$9.02; Hang Seng Bank (00011) fell 2.53% to HK$86.8.

The Zhitong Finance App learned that bank stocks in Hong Kong declined collectively. As of press release, Bank of East Asia (00023) fell 3.63% to HK$9.02; Hang Seng Bank (00011) fell 2.53% to HK$86.8; Bank of China Hong Kong (02388) fell 1.91% to HK$20.55; and HSBC Holdings (00005) fell 0.7% to HK$57.1.

According to the news, J.P. Morgan Chase published a research report saying that the considerable profit growth of local banks in Hong Kong from year to date has failed to drive stock prices due to rising market concerns about asset quality, which has offset the favorable factors brought about by the expansion of net interest spreads. Profit growth is expected to slow in FY2024 due to the slowdown in profit before provision (PPOP) growth and the lengthy period of normalization of credit costs. The bank downgraded Hang Seng Bank's rating to “neutral” and the Bank of East Asia's rating to “reduced holdings.”

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