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Zhongtai Securities: Why were bank stocks the top gainer in Q2?
The marginal inflow of various funds and the rare outflow of institutional funds have driven banks to rank first in terms of rising stocks.
Zhejiang Shibao Purchases Wealth Management Product From CITIC Bank; Shenzhen Shares Fall 5%
Citi: The four major domestic banks prefer Industrial and Commercial Bank of China, followed by China Construction Bank, China Merchants Bank, Bank of Communications and Postal Savings Bank.
JPMorgan released a report stating that it remains bullish on the performance of Chinese banks in the second half of the year. The bank has raised its target price for China Construction Bank (03988) from HKD 4 to HKD 4.2, for Agricultural Bank of China (00939) from HKD 6.55 to HKD 6.7, for China Merchants Bank (03968) from HKD 44 to HKD 46, for China Citic Bank Corporation (00998) from HKD 4.4 to HKD 4.55, and for Postal Savings Bank of China (01658) from HKD 4.3 to HKD 4.6. JP Morgan continues to favor the four major Chinese banks with stable profitability and high yield, preferring them in the following order: Industrial and Commercial Bank of China (01398), Agricultural Bank of China (0.
Morgan Stanley: ICBC (01398) is the preferred among the four major domestic banks, followed by BOC (03988), CCB (00939), CMB (03968), BOComm (00998), and PSBC (01658) with target prices.
Goldman Sachs continues to favor the four major domestic banks that have stable profits and high yields, in order of preference: ICBC (01398), AgBank (01288), CCB (00939), and BOC (03988).
Zhongsheng hldg was granted a $0.35 billion regular loan.
Zhongsheng Hldg (00881) announced that on July 31, 2024, the company (as borrower) and Mitsubishi UFJ Bank, Mizuho Bank, Sumitomo Mitsui Banking Corporation, Hang Seng Bank Limited, Bank of East Asia, Limited, The Hongkong and Shanghai Banking Corporation Limited and China CITIC Bank Corporation (as lenders) entered into a financing agreement with a three-year term and a loan amount of USD 0.35 billion. The funds expected to be borrowed under the financing agreement will be used to repay the principal and interest of existing loans of the group.
3 Dividend Stocks On SEHK Yielding Up To 8.2%
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