Hong Kong stocks fluctuate | CM Bank (03968) falls more than 4%, leading the decline in China Mainland Banking. The central bank optimizes the interest rate system, but the interest rate spread of banks still continues to narrow.

China mainland banking stocks continued to decline in the morning session. As of press time, CM Bank (03968) fell 4.2%, to HKD 31.95; Minsheng Bank (01988) fell 3.94%, to HKD 2.68; Bank of Communications (03328) fell 2.93%, to HKD 5.64; and China Construction Bank Corporation (00939) fell 2%, to HKD 5.39.

Zhitong Finance22:49 ET

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.

金吾財訊21:08 ET

Express News | China Construction Bank Announces 10-20 Basis Point Reduction in Time Deposit Rates - Statement

Reuters20:51 ET

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