01398 ICBC
- 4.340
- -0.050-1.14%
ICBC News
Northbound funds increased their holdings of Tencent by more than HKD 500 million, against the trend, while Southbound funds sold more than CNY 800 million worth of Moutai shares.
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Industrial and Commercial Bank of China, Agricultural Bank of China, China Construction Bank, Bank of Communications, and Bank of China have simultaneously lowered their deposit rates.
On July 25th, the five major banks including ICBC, China Construction Bank, Agricultural Bank of China, Bank of China, and Bank of Communications simultaneously lowered their deposit interest rates. Among them, the three-month, six-month, and one-year fixed deposit rates were all lowered by 10 basis points, respectively 1.05%, 1.25%, and 1.35%; the two-year, three-year, and five-year fixed deposit rates were all lowered by 20 basis points, respectively 1.45%, 1.75%, and 1.8%. This means that if you deposit 1 million yuan for a tenure of 5 years, the interest received will decrease from the previous 0.1 million yuan to 0.09 million yuan, a decrease of approximately 0.01 million yuan.
Industrial and Agricultural Bank of China, among other state-owned banks, have taken action and a new round of deposit rate cuts has officially formed?
According to the Daily Economic News, a major bank will reduce its deposit benchmark interest rate on July 25, with a 20 basis point reduction for a 2-year term. More news is being updated.
Northbound funds | Northbound funds added positions of China mainland banking! Sold Meituan for over HKD 0.6 billion; Southbound funds reduced their positions in Moutai by over CNY 0.4 billion.
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Hong Kong stocks fluctuate | China mainland banking rises again, Agricultural Bank of China (01288) rises by more than 3% during trading, and bank deposit interest rates are expected to usher in a new round of cuts.
China mainland banking is rising again. As of press time, Agricultural Bank of China (01288) rose 2.6% to HKD 3.55; Industrial and Commercial Bank of China (01398) rose 2.07% to HKD 4.43; Bank of Communications (03328) rose 1.92% to HKD 5.84.
Gemdale to Provide 250 Million Yuan Guarantee for 500 Million Yuan Project Loan; Shares Down 3%
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.
Nanshui sold more than 0.3 billion yuan of Maotai, while Beishui further bought more than 0.4 billion Hong Kong dollars of Tencent.
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A-share mid-day review: Chinext price index fell 1.55%, with baijiu and semiconductors sectors leading the decline. Asia Vets driving concept is repeatedly active.
As of the midday close, the Shanghai Composite Index fell 0.59% to 2946.63 points, the Shenzhen Component Index fell 1.59%, and the Chinext Price Index fell 1.55%.
Bank stocks are rising collectively. Bank of Chongqing (01963) rose by 2.8%. Institutions point out that interest rate cuts are not bad for the mid-term fundamentals of banks.
Jinwu Finance News | Bank stocks rise collectively, cqrc bank (03618) up 3.63%, bank of chongqing (01963) up 2.8%, agricultural bank of china (01288) up 2.65%, postal savings bank of china (01658) up 2.19%, bank of communications (03328) up 2.12%, industrial and commercial bank of china (01398) up 2.1%, china citic bank corporation (00998) up 1.98%. GF Sec stated that in the short term, LPR cuts will reduce bank interest rate spreads. If the central bank hedges or the government launches fiscal stimulus, bond yield spreads may widen and interest rate pressure may be alleviated.
Shandong Molong Petroleum Machinery's wholly-owned subsidiary, Shouguang Maolong, provided a guarantee for the loan contract signed between the company and the Industrial and Commercial Bank of China.
Shandong Molong Petroleum Machinery (00568) announced that, recently, according to the production and operation financing needs of the company, its wholly-owned subsidiary, Shouguang...
Huaneng Lancang River Hydropower Issues 1 Billion Yuan Ultra-Short-Term Bonds
Ruiyuan Fund's latest holding position is out! Both stock and bond positions have been reduced.
Recently, the disclosed second quarter report of Ruoyuan Wending Configuration, held for two years by Rao Gang and Hou Zhenxin's management.
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.
[Brokerage Focus] Bocom Intl indicates that new loans in June meet market expectations.
Jingu Finance | Bocom Intl released research reports stating that new loans in June were 2.13 trillion yuan (RMB, same below), which is in line with market expectations, a year-on-year decrease of 920 billion yuan, with the decrease mainly coming from medium and long-term loans to enterprises, as well as short-term and medium-to-long-term loans to residents. The new social financing in June was 3.3 trillion yuan, which is basically in line with market expectations, with a year-on-year decrease of 926.6 billion yuan, mainly due to a year-on-year decrease in RMB loans. The year-on-year decrease in M1 has further expanded, while the growth rates of M2, RMB loans, and social financing balance continue to slow down. The bank pointed out that the monetary, credit, and social financing data in June continued to be affected by the calculation of value-added by the financial industry.
At the end of June, the balance of foreign currency loans in Shanghai reached 11.85 trillion yuan, up 8.6% year-on-year, according to the Shanghai branch of the People's Bank of China.
On July 15, the Shanghai headquarters of the People's Bank of China released the running status of MMF and crediting in Shanghai for the first half of 2024.
Industrial and Commercial Bank of China Issus 50 Billion Tier-1 Bonds
Hong Kong stock concept tracking | High dividend strategy drives sector to rise during the year. Institutions are bullish on bank dividend trading opportunities (including concept stocks).
Based on the data disclosed in the previous annual report, the six major state-owned banks will have a total dividend amount of up to 413.341 billion yuan this year.
Industrial and Commercial Bank of China (01398.HK) completed the issuance of 50 billion yuan perpetual capital bonds.
The Industrial and Commercial Bank of China (01398.HK) has announced that the China Industrial and Commercial Bank Limited's unlimited-term capital bonds, due in 2024 ("This bond") has recently been issued on the national inter-bank bond market. This bond was booked on July 10, 2024, and was issued on July 12, 2024. The size of this bond issue is RMB 50 billion, with a fixed interest rate of 2.35% for the first 5 years and an adjustment every 5 years. After the fifth year, on each interest payment date, the issuer has the conditional right of redemption.
Industrial and commercial bank of China (01398) completed the issuance of 50 billion yuan in perpetual capital bonds.
Industrial and Commercial Bank of China (01398) announced that the bank's non-fixed-term capital bonds (first issue) in 2024 have been fully subscribed recently...
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