Citic Sec: Banks sector is expected to continue to recover positions, recommending two main lines.
As of Q2 2024, banks accounted for 2.45% of the heavyweight stocks held by active funds, up 0.21pct from Q1 2024.
GTJA Securities: Diluting the obsession with scale and embracing the new norm of social financing.
PBOC Governor Pan Gongsheng pointed out at the Lujiazui Forum that when the growth of monetary and credit has shifted from supply constraints to demand constraints, if the focus is still on the increase in quantity even in the presence of a "size bias", it obviously contradicts the laws of economic operation. It is expected that the motivation behind banks using bills to pledge loans will significantly weaken, and more attention will be paid to the adjustment of loan structure and improvement of business quality and efficiency. Both social financing and credit will enter a "new normal" of growth.
GF Sec: A summary of the quota and usage of interbank certificates of deposit in the first half of 2024.
Under the policy guidance of idle funds pressure, it is unlikely that state-owned banks will update their filing quotas within the year. In history, only a few urban and rural commercial banks have updated their filing quotas due to the scale of their deposit certificates exceeding the filing quotas, and state-owned banks have no precedent yet.
UBS Group: Maintains a "neutral" rating for BOC Hong Kong (02388), with a target price of HKD 24.
UBS Group has lowered its earnings forecast for BOC Hong Kong (02388) from 2024 to 2027 by 7% to 14% per share.
Hang Seng Index Company: The Hang Seng Stock Connect State-Owned Enterprise Value Index has risen by more than 26% since the beginning of the year, significantly outperforming the market.
Heng Seng Index Company stated that state-owned enterprises have significantly outperformed in the Hong Kong stock market in recent years.
Morgan Stanley: HK based banks have reduced risks and their valuation is reasonable.
On July 5th, Morgan Stanley released a report stating that hk based banks' stock prices outperformed the Hang Seng Index in the second quarter, indicating a reduction in tail risk for the industry and supporting a mean reversion of stock prices, but not a reassessment of valuations.
Uncertainty remains regarding interest rate cuts. According to KPMG, a high interest rate environment is beneficial for the profitability of Hong Kong banks.
KPMG recently released a report on the Hong Kong banking industry in 2024, pointing out that the balance sheet of Hong Kong banks recorded moderate growth due to the higher interest rate environment in 2023, with significant increases in net interest margin and operating surplus.
In June, Hong Kong's mortgage for newly developed properties increased by nearly 1.8 times, reaching a 27-month high. The mortgage for existing properties also increased by nearly 40%.
According to the latest data from the Mortgage Referral Research Department and the Hong Kong Land Registry, the number of existing building mortgages in June was 4,943, an increase of 1,372 (38.4%) from May, reaching a new high in 8 months.
BOC HONG KONG HLDG To Go Ex-Dividend On July 3rd, 2024 With 2.92398 USD Dividend Per Share
Goldman Sachs rates BOC Hong Kong (02388) as a 'buy' with a target price of HKD 30.1.
Goldman Sachs suggests that the net interest margin of BOC Hong Kong may be relatively stable.
BOC Hong Kong: Fed cautious about inflation decline, be wary of volatility in US stocks.
The US interest rate decision reflects the Federal Reserve's cautious attitude towards the progress of inflation decline, and it needs time to observe before starting the interest rate cut cycle.
BOC Hong Kong (02388): The Cheers Card overseas spending increased by nearly 50% YoY in the first quarter.
BOC Hong Kong (02388) stated that its credit card business has continued to grow steadily, with total quarterly spending reaching a new high this year, with the most significant increase in spending in the travel category.
BOC Hong Kong May Benefit From Growth in Cross-Border Financial Services -- Market Talk
BOC Hong Kong (02388) has launched the first carbon footprint tracking feature in Hong Kong on mobile banking.
BOC Hong Kong (02388) announced the launch of the first carbon footprint tracking function in Hong Kong on the mobile banking app "Carbon.Life" area to further promote the bank's digital green transformation in order to support customers in transitioning towards a green and low-carbon lifestyle.
Market Chatter: Sun Hung Kai Properties Lends HK$23 Billion Through Credit Facility
Those Who Invested in BOC Hong Kong (Holdings) (HKG:2388) Five Years Ago Are up 7.6%
[Special V] Deng Shengxing: The opening of the Hong Kong stock market continues to be strong, and the pre-upward trend has not stopped
Jinwu Financial News | The Hang Seng Index closed at 19,553 points on Friday (17th), up 177 points, or 0.91%, and traded 179.3 billion yuan throughout the day. The national index rose 0.92% to 6934; the technical index rose 0.99% to 4112. Foreign Exchange Control (00005) is rumored to have further reduced its holdings by Ping Bao (02318). Foreign Exchange Control closed down 2.2% today; Ping Bao surged 5.7%.
Minsheng Securities: Bank AH Shares High Premium Nuggets H Shares High Dividends
Bank AH share premiums are still at historically high levels. On the one hand, tax policy expectations are improving, and premiums are expected to subside with financial support. On the other hand, the discount on H shares also brings dividend advantages. At the same time, it is also necessary to consider the relative disadvantages of liquidity and settlement efficiency in the H share market.
BOC Hong Kong Posts 17% Jump in Q1 Net Income
BOC Hong Kong (Holdings) Surpasses Expectations: A Strong Buy Recommendation
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