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Lyon: The central bank optimizes the interest rate system, and the domestic banks are bullish on Agricultural Bank of China and China Construction Bank.
A report released by Lyon states that the People's Bank of China announced a rate cut earlier, with LPR for one-year and five-year terms decreasing by 10 basis points, reflecting the optimization of the interest rate system. The bank expects that the People's Bank of China will take more action, such as optimizing the transmission of interest rates with LPR and deposit pricing. After the United States took rate-cutting measures, the bank believes that the People's Bank of China has greater room for interest rate cuts, which may lead to a decline in net interest margin of banks. Lyon believes that a lower LPR will pose a challenge to net interest margin in the second half of this year and next year. However, in the long run, better transmission means that the bank's asset yield and liability cost are more matched, making banks more
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.
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.
Nanshui sold more than 0.3 billion yuan of Maotai, while Beishui further bought more than 0.4 billion Hong Kong dollars of Tencent.
Track the latest trends of north-south directional funds.
Northbound capital sold a net of 4.183 billion yuan worth of A-shares, and contrary to the trend, increased holdings of BYD Company Limited, Cambricon Technologies, and Agricultural Bank of China.
The northbound funds sold a net of 4.183 billion yuan of A-shares today. Among them, kweichow moutai, wuliangye yibin, and zhongji innolight suffered net sales of 0.336 billion yuan, 0.27 billion yuan, and 0.227 billion yuan respectively. BYD Company Limited, Cambricon Technologies Corporation, and Agricultural Bank of China received net purchases of 0.41 billion yuan, 0.257 billion yuan, and 0.254 billion yuan respectively.
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
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