中信建投则指出，一揽子稳经济、宽货币的增量政策发布后，市场悲观预期有所缓解，经济复苏预期改善，银行估值在政策发力下有所修复。但实际宏观经济指标仍处于逐步修复的进程中，银行板块处于“政策强预期，基本面弱现实”的背景。期待本轮货币、财政政策发力后带动经济进一步复苏，从而推动银行基本面迎来实质性改善。China mainland banking rose across the board. As of the time of publication, bank of zhengzhou (06198) rose by 8.08%, closing at 1.07 Hong Kong dollars; minsheng bank (01988) rose by 6.14%, closing at 3.11 Hong Kong dollars; ceb bank (06818) rose by 4.15%, closing at 2.76 Hong Kong dollars; bank of china (03988) rose by 3.32%, closing at 3.73 Hong Kong dollars; industrial and commercial bank of china (01398) rose by 2.83%, closing at 4.73 Hong Kong dollars.
According to the Securities Times APP, China mainland banking rose across the board. As of the time of publication, bank of zhengzhou (06198) rose by 8.08%, closing at 1.07 Hong Kong dollars; minsheng bank (01988) rose by 6.14%, closing at 3.11 Hong Kong dollars; ceb bank (06818) rose by 4.15%, closing at 2.76 Hong Kong dollars; bank of china (03988) rose by 3.32%, closing at 3.73 Hong Kong dollars; industrial and commercial bank of china (01398) rose by 2.83%, closing at 4.73 Hong Kong dollars.
On the news front, the China Securities Regulatory Commission issued the "Guidelines for the Supervision of Listed Companies No. 10 - Market Cap Management" in its final draft, with certain optimized adjustments in terms of system disclosure, the scope of long-term net-debt companies, index selection, regulatory measures, and more. Dongguan Securities pointed out that the banking sector is entirely in a net-debt state. The guidelines are expected to bring opportunities for valuation reshaping to the banking sector. In addition, a series of incremental financial policies recently introduced to support localized debt risk resolution, assist large state-owned commercial banks in supplementing core Tier 1 capital through issuing special national debt, promote the stabilization and recovery of the real estate market, and introduce convenient swap tools for incremental finance, have also constituted substantial bullish news for the banking sector.
China Securities Co., Ltd. pointed out that after the release of a package of incremental policies to stabilize the economy and expand mmf, the market's pessimistic expectations have eased, economic recovery expectations have improved, and bank valuations have been somewhat restored under policy efforts. However, actual macroeconomic indicators are still in the process of gradual recovery, with the banking sector in the context of "strong policy expectations, weak fundamentals." It is hoped that the stimulus from this round of monetary and fiscal policies will further drive economic recovery, thereby achieving a substantial improvement in the fundamentals of the banking sector.
