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Special contributor Guo Jiayao: The market atmosphere remains prosperous, but after a significant accumulation of gains, consolidation at a high position is taking place.
Jinwu Financial News | The US stock market experienced significant fluctuations last Friday, as the latest non-Agriculture job data from the USA fell short of expectations. After a weak opening, the market significantly declined at first, then fluctuated and rebounded, with all three major indices closing with gains. The dollar weakened, the yield on the ten-year US Treasury note rose to 4.3%, gold prices showed weakness, and oil prices improved from their lows. The Hong Kong stock market's pre-market securities were generally soft, and a low opening is expected. The mainland stock market fell last Friday, with the Shanghai Composite Index opening low and continuing to decline, closing down 0.2%, while trading volume in the Shanghai and Shenzhen markets slightly decreased. The Hong Kong stock market fluctuated downward last Friday, initially rising after a low opening, before turning weaker again and closing with a modest decline.
China Jianyin Investment expects that the pure profit of domestic banks increased by 2% last year, Bullish on CM BANK and China CITIC Bank Corporation.
Jianyin International has released a Research Report stating that the mainland government is committed to controlling tail risks and activating market sentiment. The bank holds a positive view on the stock prices of China Mainland Banking for the fiscal year 2025, believing that stable Operation performance will support the dividend yield of H-shares of China Mainland Banking to reach 6.1%. It indicates that Ping An Bank (000001.SZ) will kick off the announcement of its fiscal year 2024 results on March 14. The bank expects Agricultural Bank Of China (01288) to be the fastest-growing stock within its research scope, with a year-on-year increase of 4%. It is anticipated that the net profit of China Mainland Banking will rise by 2% year-on-year, while estimated pre-provision operating profit (PPOP) and revenue will both decline by 1% year-on-year.
[Brokerage Focus] Jianyin International is optimistic about the stock price of Bank Of China for the fiscal year 2025.
Jinwu Financial News | Jianyin International expresses an optimistic view on the stock price of Bank Of China for the fiscal year 2025, mainly due to the government's commitment to controlling tail risks and the high market sentiment. The bank believes that solid operating performance will support a 6.1% dividend yield for Listed in Hong Kong banks in the fiscal year 2024. According to the bank's profit model, it is expected that the overall net income of the Chinese banking industry it covers will increase by 2% year-on-year in the fiscal year 2024 (with a year-on-year growth of 2% in the fiscal year 2023). Among the banks covered by the bank, Agricultural Bank Of China (ABC) has the fastest growth, increasing by 4% year-on-year. Operating profit for the fiscal year 2024.
Jianyin International: Capital adequacy ratio improves, the valuation of Banks is expected to improve, raising the Target Price for domestic Banks (table).
The bank believes that bank stocks have underperformed compared to the Index, but valuations are expected to improve.
March 6 Insurance Daily | For five consecutive years included in the government work report, the national implementation of long-term care insurance is "ready to go"! Insurance companies are intensively issuing perpetual bonds.
For five consecutive years, long-term care insurance has been included in the government work report, and its nationwide implementation is "in the works." On March 5th, the 2025 government work report once again mentioned "accelerating the establishment of a long-term care insurance system." According to Statistics, this is also the fifth year since 2021 that long-term care insurance has been included in the government work report of the State Council. Reviewing the government work reports from recent years, the tasks related to long-term care insurance have evolved from "steadily promoting long-term care insurance system pilot programs" in 2023 to "advancing the establishment of a long-term care insurance system" in 2024, and then to "accelerating the establishment of a long-term care insurance system" in 2025.
Chinese financial stocks rose across the board as the government work report proposed timely cuts in reserve requirement ratios and interest rates.
Jinwu Financial News | Chinese financial stocks are rising across the board, with significant gains in China Mainland Banking stocks. Bank Of Communications (03328) rose by 2.87%, Bank Of China (03988) rose by 2.49%, MINSHENG BANK (01988) rose by 2.42%, CEB BANK (06818) rose by 1.94%, Industrial And Commercial Bank Of China (01398) rose by 2.01%, Postal Savings Bank Of China (01658) rose by 1.60%. In terms of Mainland Insurance Companies, China Pacific Insurance (02601) rose by 2.88%, China Life Insurance (02628) rose by 2.28%, ZA ONLINE (06060) rose by 2.17%, China Pacific Insurance.
