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Bank stocks generally rose, with CM Bank (03968) up 3.55%. Institutions believe that high dividends still provide long-term investment opportunities in the sector.
Jingu finance news | Bank stocks rose across the board, with cm bank (03968) rising 3.55%, cqrc bank (03618) rising 2.4%, industrial and commercial bank of china (01398) rising 1.79%, boc hong kong (02388) rising 1.57%, china construction bank corporation (00939), postal savings bank of china (01658), bank of communications (03328) and other banks rose more than 1%. On the news front, CaiXin Securities said that the current valuation of the banking sector is still low. In the context of asset shortage, high dividend absolute return is still the long-term investment logic of the sector. The current investor risk appetite is low, so they can pay attention to stocks that have defensive qualities.
Zhongtai Securities: Why were bank stocks the top gainer in Q2?
The marginal inflow of various funds and the rare outflow of institutional funds have driven banks to rank first in terms of rising stocks.
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.
Investing in Chongqing Rural Commercial Bank (HKG:3618) a Year Ago Would Have Delivered You a 57% Gain
Zhongtai Securities: A new round of deposit rate cuts is expected, posing strong support for investment in bank stocks.
Judging from the recent adjustments to LPR and deposit rates, the central bank will adjust the listed deposit rates twice after two LPR reductions, and there have been two interest rate cuts since the beginning of this year. A new round of deposit rate cuts is expected.
Orient Securities: It is expected that banks' mid-year reports may show a marginal improvement trend. Pay attention to the possibility of Q3 fiscal acceleration.
It is expected that banks will show marginal improvement in their mid-year reports compared to their first quarter reports; at the same time, considering the current economic situation, the status of real demand, and the relatively slow fiscal rhythm in the first half of the year, attention should be paid to the possibility of speeding up the fiscal rhythm in Q3.
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