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Trending Stocks Today: AUTOSTREETS Surges 82.8%
[Brokerage Focus] Haitong Int'l: The replenishment of core Tier 1 capital this time is more of a precautionary measure under conservative circumstances.
Jingwu Cai Xun | Haitong Int'l stated that on October 12, 2024, at the State Council Information Office press conference, it was mentioned that the issuance of special national bonds will support large state-owned commercial banks in supplementing their core tier one capital, enhancing their risk resistance and crediting capabilities, and better serving the development of the real economy. The bank indicated a precautionary stance. As of Q2 2024, the ranking of the adequacy ratio of core tier one capital for the six largest banks from highest to lowest is as follows: China Construction Bank Corporation 14.01%, Industrial and Commercial Bank of China 13.84%, Bank of China 12.03%, Agricultural Bank of China 11.13%, Bank of Communications 10.30%, Postal Savings Bank of China 9.2.
Shenzhen Real Estate Association: 2,316 second-hand houses were traded in the 41st week of Shenzhen, with a week-on-week growth of 650%.
According to statistics from the Shenzhen Real Estate Intermediary Association, Shenzhen's second-hand housing (including self-service) recorded 2,316 units, a month-on-month increase of 649.5%. Among them, the inventory of second-hand houses continues to increase, with multiple banks announcing that the interest rates for existing house loans will be uniformly reduced to LPR-30BP.
[Brokerage Focus] CCB International raises target price for China Mainland Banking, prefers Agricultural Bank of China (01288) and Bank of China (03988).
Kingward Financial News | BOC International's research report indicates that under the market sentiment driven by stimulus policies, the valuation of China mainland banking stocks has been re-priced. The bank expects that China mainland banks will deliver stable operational performance in the third quarter of 2024, benefiting from higher trading income and lower impairment losses. It is expected that Industrial Bank's profit growth will reach 3%, followed by Agricultural Bank of China (01288), Bank of Communications (03328), and China Citic Bank Corporation (00998). In addition, the net interest margin for the third quarter is expected to drop by 15 basis points to 151 basis points annually. The bank continues to favor state-owned banks, especially Agricultural Bank of China and Bank of China.
The wave of adjustments in existing home loan interest rates has expanded to rural banks and private banks, and the downward trend of LPR will further drive down mortgage rates.
On October 14th, hundreds of rural banks across the country issued announcements on the adjustment of existing individual housing loan interest rates, with some private banks and foreign banks following suit in the past two days. As a result, the participation in the adjustment of existing mortgage rates has basically expanded to all domestic commercial banks; Different banks have different requirements for overdue loans and non-performing loans; Several experts believe that there is still room for reduction in the LPR, which will further drive down future mortgage rates.
Trending Stocks Today: ABC up 4.5%
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