Yuexiu Property's subsidiary has been approved to issue up to 3 billion yuan in targeted debt financing instruments.

Yuexiu Property (00123) announced that Guangzhou Urban Construction Development Limited (the issuer, a subsidiary company with 95% equity owned by the Company) has been approved to issue targeted debt financing instruments with a total principal amount of up to RMB 3 billion in the China Interbank Market through non-public offering. The targeted instruments will be issued in stages. The first issuance in 2024 will be for an amount not exceeding RMB 1.8 billion and will be divided into two types: targeted instruments with fixed coupon rates for a five-year term (Type One targeted instruments), and by the end of the third year, the issuer may choose to adjust the coupon rate and holders have the right to require the issuer to repurchase the instrument.

新浪港股19:59 ET

The central parity rate of Renminbi reported at 7.1318, up 27 points.

On August 6th, the central parity rate of RMB was reported as 7.1318, up 27 basis points from the previous trading day's central parity rate of 7.1345. Why did RMB explode? How did RMB turn from a weak trend since the beginning of the year to a strong one? Industry insiders believe that the triggering factors come from many aspects, including important changes in peripheral currency policy and risk sentiment, the resonance factor of the yen, and the internal forces. Li Liuyang, a forex research expert at China International Capital Corporation, said that the two main reasons for the recent rebound in RMB exchange rates are the closure of carry trades caused by changes in the external environment and the implementation of stable exchange rate policies. Currently, risk aversion is rising globally.

市場資訊Aug 5 21:17 ET

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.

Zhitong FinanceAug 5 19:30 ET

Saudi Arabia's Wealth Fund Signs MOUs With Six Chinese Financial Firms

MT NewswiresAug 5 07:26 ET

Citi: The four major domestic banks prefer Industrial and Commercial Bank of China, followed by China Construction Bank, China Merchants Bank, Bank of Communications and Postal Savings Bank.

JPMorgan released a report stating that it remains bullish on the performance of Chinese banks in the second half of the year. The bank has raised its target price for China Construction Bank (03988) from HKD 4 to HKD 4.2, for Agricultural Bank of China (00939) from HKD 6.55 to HKD 6.7, for China Merchants Bank (03968) from HKD 44 to HKD 46, for China Citic Bank Corporation (00998) from HKD 4.4 to HKD 4.55, and for Postal Savings Bank of China (01658) from HKD 4.3 to HKD 4.6. JP Morgan continues to favor the four major Chinese banks with stable profitability and high yield, preferring them in the following order: Industrial and Commercial Bank of China (01398), Agricultural Bank of China (0.

新浪港股Aug 2 05:18 ET

Jpmorgan: bullish on the performance of domestic banking industry in the second half of the year, preferring the four domestic banks with stable earnings and high yields.

JPMorgan released a report stating that it remains bullish on the performance of domestic banking industry in the second half of the year, believing that it will mainly benefit from the regulatory focus on safeguarding banks' net income and policy support for the stable macroeconomic growth prospects in the second half of the year. The bank expects domestic banks' revenue and profits to turn to growth in the second half of the year. JPMorgan continues to favor the four domestic banks with stable profitability and high yield rates, listed in order of preference: Industrial and Commercial Bank of China, Agricultural Bank of China, China Construction Bank Corporation, and Bank of China. The bank's analysis shows that the current dividend yield gap is still attractive for southward and A-share investors, and they can increase their shareholding during any weak periods. The bank has raised its target price on Bank of China from HKD4 to HKD4.2.

Gelonghui FinanceAug 2 01:29 ET