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.

Zhitong FinanceJul 24 02:16 ET

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.

Zhitong FinanceJul 23 20:30 ET

Unusual movements observation | China mainland banking generally rose, the impact of interest rate cuts on bank interest spreads is limited, and state-owned banks are considering lowering deposit listing rates.

On July 23rd, China mainland banking stocks generally rose, as of press time, CQRC Bank (03618.HK) rose 3.63%, reported HKD 4.00; Bank of Chongqing (01963.HK) rose 2.6%, reported HKD 5.13; Agricultural Bank of China (01288.HK) rose 2.35%, reported HKD 3.48; Postal Savings Bank of China (01658.HK) rose 2.19%, reported HKD 4.20; Bank of Communications (03328.HK) rose 1.94%, reported HKD 5.77. Quote source: Futubull. On July 22nd, the latest news

Futu NewsJul 22 23:10 ET · Movers

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.

金吾財訊Jul 22 22:56 ET

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.

Zhitong FinanceJul 15 23:10 ET

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.

Zhitong FinanceJul 15 09:24 ET