Trending Stocks Today: SUNAC Shoots up 24.54%
Hong Kong stock's unusual movement | Mainland China banking stocks rose in early trading. It is rumored that Chinese banks are about to lower deposit rates again in the near future. The industry expects there is still room for further decline.
China mainland banking's morning session was in the red, as of the deadline, Postal Savings Bank of China (01658) rose by 3%, to HK$4.81; Bank of Communications (03328) rose by 2.5%, to HK$6.16; cm bank (03968) rose by 2.43%, to HK$40; Bank of China (03988) rose by 2.39%, to HK$3.86.
[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.
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%
Sudden movements: China mainland banking sector collectively opens higher, the Ministry of Finance will issue special national bonds to support large state-owned banks in replenishing core capital, further enhancing the sector's certainty.
On October 14th, china mainland banking (LIST1239.HK) opened higher as a whole. As of the press release, industrial and commercial bank of china (01398.HK) rose by 4.07% to 4.86 Hong Kong dollars; agricultural bank of china (01288.HK) rose by 3.24% to 3.98 Hong Kong dollars; cm bank (03968.HK) rose by 3.51% to 41.25 Hong Kong dollars; bank of china (03988.HK) rose by 3.47% to 3.88 Hong Kong dollars; china construction bank corporation (00939.HK) rose by 3.16%.
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