After the official announcement of the new round of reduction in existing home loan interest rates, the Construction Bank is "snatching up" new home loans! Targeting the golden week, many state-owned large bank branches are also taking action.
1. The Construction Bank took the lead in deploying the National Day housing loan discount promotion for the 'Golden September and Silver October' season, becoming the first state-owned major bank to launch this activity after the announcement of adjustments to existing housing loans. 2. In addition to Construction Bank's national housing loan marketing campaign, some state-owned major banks' local branches and sub-branches are also taking action. 3. Despite the pressure of adjusting interest rates on existing housing loans, mortgage loans, as high-quality credit assets, have always been a battleground for various banks.
Major rating | jpmorgan: Mainland's capital injection into state-owned major banks may dilute earnings per share. Lowering target price of Bank of China to HK$5.8.
JPMorgan released a report stating that it is rumored in China that the government plans to inject 1 trillion yuan into large state-owned banks. If the bank issues shares at twice the book value, it could dilute the return on equity by 56 basis points and dilute earnings per share by 7.1%; if shares are issued at market price, it could dilute earnings per share by 11.2%. The bank estimates that if the current rebound of state-owned banks continues, they believe there is absolute upside potential. However, due to concerns about policy risks and the cyclical nature of asset quality, state-owned banks may underperform the market and high-growth bank stocks (such as China Merchants Bank and Bank of Communications). The bank has lowered the target price for Bank of China from 6.1 Hong Kong dollars.
Interbank certificate of deposit quotas are in urgent need! Some banks are already below 5%, and the situation may improve in the fourth quarter.
①The balance of negotiable certificates of deposit in the six major state-owned banks accounts for 82.04% of the 2024 record amount, while the balance of negotiable certificates of deposit in joint stock banks accounts for 68.75% of the 2024 record amount. ②The supply of government bonds in the fourth quarter will significantly decrease compared to the third quarter, and the scale of interbank certificates of deposit maturing will also decrease significantly.
Breaking through 19,000 points! The three major stock indices in Hong Kong rose together, with the Hang Seng Index achieving its largest daily gain in over a year.
①Why did the three main stock indices in Hong Kong all strengthen today? ②How do institutions view this sharp rise? ③Why did Miniso experience a sharp drop today?
Central Bank responds to "Switching Mortgages", stating that the initial phase will start from this bank. Industry insiders expect new mortgages to replace existing ones, with limited impact on the existing market.
The emphasis on "initially implementing mortgage transfers within the bank" is mainly because the existing housing loans are still high-yield, low-risk quality assets for banks. Allowing inter-bank mortgage transfers will intensify competition among banks, which is not conducive to the stability of the mortgage market. Banks are expected to negotiate with customers, and both parties will sign a new mortgage contract to replace the original one.
Existing home loan interest rates are about to be lowered by 50 basis points! Industry insiders: It can effectively curb the trend of early repayment, and deposit interest rates will be further reduced under the pressure of interest rate differentials.
1. The central bank announced that it will guide commercial banks to reduce existing mortgage rates to be close to the rates of new mortgages, with an average reduction of about 0.5 percentage points. 2. It is expected that the loan prime rate (LPR) and deposit rates will symmetrically decrease.
Bank of Communications [03328] is now trading at HK$5.79, with a rise of 5.08%.
As of 11:12, Bank of Communications [03328] reported 5.79 Hong Kong dollars, up 0.28 Hong Kong dollars or 5.08% from the closing price of 5.51 Hong Kong dollars yesterday, with a turnover of 102.2574 million Hong Kong dollars. The highest price today is 5.79 Hong Kong dollars, and the lowest price is 5.53 Hong Kong dollars. Based on the closing price from yesterday, the 10-day average price is 6.16 Hong Kong dollars, the 50-day average price is 5.51 Hong Kong dollars, and the current PE ratio is 4.84 times. The 14-day relative strength index is reported at 73.39.
Multiple bullish factors stimulate the strong performance of bank stocks, cm bank's Hong Kong stocks surged.
What bullish news was announced this morning? How do institutions view bank stocks at the moment?
Major announcements on the real estate market and stock market were made by one line, one bureau, and one association.
1. The central bank: reduce the reserve requirement ratio, lower the interest rate on existing housing loans; establish a special refinancing facility to guide banks to provide loans to listed companies. 2. China Banking and Insurance Regulatory Commission: strengthen the core tier-one capital of 6 large commercial banks; reveal three optimization policies for renewing loans for small and micro enterprises. 3. China Securities Regulatory Commission: will issue opinions to promote the entry of medium and long-term funds into the market and six measures to promote mergers and acquisitions; support sovereign wealth funds to increase their shareholding in the capital markets.
Capital markets are getting a fresh boost! The central bank has set up a special refinancing facility for securities, funds, insurance companies to facilitate share buybacks and shareholdings, which can only be used for investing in the stock market.
1. Establishing securities, fund, and insurance companies to facilitate mutual exchange, supporting eligible securities, fund, and insurance companies to obtain liquidity from the central bank through asset pledging, significantly enhancing the ability to raise funds and shareholding capabilities in stocks; 2. Establishing a special refinancing facility for share buyback, guiding banks to provide loans to listed companies and major shareholders, supporting share buybacks and shareholding in stocks.
Bank stocks are strong, cm bank (03968) rose by 4.2%. Li Yunze: plans to increase core tier one capital for 6 large commercial banks.
Jingu Financial News | Banking stocks are performing strongly, with CM Bank (03968) up 4.2%, Bank of Communications (03328) up 3.45%, Industrial and Commercial Bank of China (01398) up 2.7%, China Construction Bank Corporation (00939) up 2.47%, Postal Savings Bank of China (01658) up 2.55%, Bank of China (03988) up 2.54%. On the news front, Li Yunze, Director of the China Banking and Insurance Regulatory Commission, stated plans to increase core Tier 1 capital for 6 large commercial banks, implementing in an organized manner with an overall plan, staged approach, and tailored strategy for each bank. Planning to expand banking financial asset management company stocks.
交通銀行:二零二四年中期報告
Bank of Communications Fully Redeems 4.2% Undated Bonds
Another cut! After the 7-day reverse repurchase rate was lowered 2 months ago, today the 14-day reverse repurchase rate was reduced by 10 basis points. How significant is the impact?
① The policy rate will be based on the 7-day reverse repo rate in the future. ② Since the news of the adjustment of the existing housing loan interest rate has been circulating for two weeks, there has been no official denial. Moreover, there has been a strong market demand, and most market institutions believe that it is only a matter of time for the formal operation and implementation.
Bank of Communications Completes Bond Redemption
Bank of Communications (03328) exercises its redemption right on the perpetual capital bonds in 2019.
Bank of Communications (03328) has announced that the bank's issuance scale in the national interbank bond market is RMB 400 million...
Express News | Bank of Communications - Undated Capital Bonds of RMB40 Bln
Express News | Bank of Communications - Right to Redeem Bonds at Nominal Value in Whole or in Part at End of Fifth Year
Express News | Voluntary Announcement Exercise of Redemption Right for 2019 Undated Capital Bonds
There is no urgent need for a short-term downward adjustment. The September LPR quote remains unchanged. It is expected that the major policy interest rates may be lowered within the year to promote LPR adjustment.
①The main reason for the stable LPR interest rate in September is the pressure of banks' net interest margin, and the policy interest rate (7-day reverse repurchase rate) remains unchanged. ②Taking into account the current economic situation and price trends, the central bank may lower the main policy interest rate, that is, the 7-day reverse repurchase rate, by an estimated 10 to 20 basis points in the fourth quarter, which will guide the LPR quote to follow suit.
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