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Special savings deposits are hotly recommended, with multiple banks launching new products in October. The interest rate spread for different joint-stock banks for a 3-year period can be as high as 20 basis points.
①Special deposit products, like regular deposits and large-sum certificates of deposit, belong to deposit products and are suitable for low-risk individuals. ②Although under the background of the reduction of the deposit benchmark interest rate, the interest rate of special deposit products is also in a declining state, it is relatively higher compared to regular deposits, which has a certain appeal to depositors who seek stability.
Trending Stocks Today: SUNAC Shoots up 24.54%
[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.
CICC International: Latest ratings and target prices for China mainland banking (Table) Continuing to prefer state-owned banks
The bank stated that thanks to higher trading income and lower impairment losses, csi china mainland banks index are expected to deliver stable operational performance in the third quarter of 2024.
Major bank ratings | ICBC International: Raised target prices for some china mainland banking stocks, still prefer state-owned banks.
Jianyin International released a research report indicating that the valuation of China mainland banking is being reevaluated amid the high market sentiment driven by stimulus policies. The bank expects that China mainland banks will deliver stable operational performance in the third quarter of 2024, thanks to higher trading income and lower impairment losses. It is expected that Industrial Bank's profit growth will reach a best 3%, followed by Agricultural Bank of China, Bank of Communications, and China Citic Bank Corporation. The bank stated a preference for state-owned banks, especially Agricultural Bank of China and China Citic Bank Corporation. The bank has raised the target price for Agricultural Bank of China from 4.2 Hong Kong dollars to 4.4 Hong Kong dollars, and for China Citic Bank Corporation from 4.1 Hong Kong dollars to 4.4 Hong Kong dollars, and for Bank of Communications.
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.