No Data
Brokerage morning meeting highlights: The industry allocation recommendations for April should focus on two main lines.
At today's Brokerage morning meeting, Galaxy Securities stated that the characteristics of a short-term structural economic recovery remain evident, with industries related to new productive forces performing better; HTSC believes that increased investment in global AI computing power is expected to drive the performance of businesses in sectors such as Optical Communications to remain positive; China Securities Co., Ltd. suggested that the industry allocation recommendations for April should focus on two main lines.
It is the "last day" for Consumer loan interest rates below 3%, and many Banks are still rushing to attract customers, fearing increased pressure on future lending.
① Many Banks are promoting a slogan "Last Day of Low Interest Rates", urging customers to quickly check their limits and receive interest rate coupons for withdrawals; ② Several Banks' Crediting personnel are concerned that an increase in Consumer loan rates may lead to a decrease in interest, continuing to increase lending pressure.
Research Reports for Digging Gold丨Ping An Securities: Industrial And Commercial Bank Of China shows steady profit growth, maintaining a 'recommended' rating.
The research report from Ping An Securities points out that the Industrial And Commercial Bank Of China (601398.SH) will continue to narrow its revenue decline in 2024, with profit also recovering. The full-year net income attributable to shareholders is expected to increase by 0.5% year-on-year (for Q1-Q3 of 2024, 0.1%), and the profit growth rate is steadily rising, believed to be mainly due to the revenue recovery, especially as the decline in net interest income continues to narrow. From the revenue side, the Industrial And Commercial Bank Of China is expected to see a 2.5% year-on-year decline in revenue for 2024, narrowing by 1.3 percentage points compared to the first three quarters, mainly driven by the narrowing decline in net interest income, which is expected to drop by 2.7% year-on-year (for Q1-Q3 of 2024, -4.9%), continuing to narrow.
ICBC 2024 Profit Ticks Up, Revenue Slips 2.5%
[Brokerage Focus] Citi: The large state-owned banks' private placement of A-shares helps alleviate net interest margin pressure, but is more Bullish on joint-stock banks.
Jinwu Financial News | Citigroup's Research Reports indicate that the Private Placement of shares by Bank Of China (03988), Postal Savings Bank Of China (01658), China Construction Bank Corporation (00939), and Bank Of Communications (03328) will help alleviate net interest margin pressure and restore lending capacity. This round of Refinancing will respectively raise the core Tier 1 capital adequacy ratios (CET1) of CCB, BOC, PSBC, and BOCOM to 15%, 13.1%, 11.5%, and 11.1%, and will dilute the existing Shareholders' equity to 4.3%, 8.5%, 15.6%, and 17.2%, but will only affect the dividend yield starting from 2025.
Hong Kong stock market movement | China Mainland Banking stocks rise against the trend, China Construction Bank Corporation (00939) increases by over 4%, with four state-owned banks introducing a strategic investment of 520 billion yuan.
China Mainland Banking stocks rose against the trend, as of the time of publication, China Construction Bank Corporation (00939) increased by 3.73% to 6.95 Hong Kong dollars; Bank Of China (03988) rose by 1.96% to 4.68 Hong Kong dollars; CM BANK (03968) increased by 1.86% to 46.5 Hong Kong dollars; Industrial And Commercial Bank Of China (01398) rose by 1.27% to 5.56 Hong Kong dollars.
Pei Boon-Aik Huat : There is none.