EEMV240920C47000
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iShares MSCI Min Vol Emerging Markets ETF Newsroom
Banks' stocks are experiencing a "rare" big drop, JPMorgan: There is no reason for it!
JPMorgan believes that the trend of funds flowing into high-yielding stocks will continue, and the performance of bank stocks is not significantly below expectations. The performance growth rate of JPMorgan, Bank of Communications, Ningbo Bank, and China Citic Bank in the first half of 2024 and expected earnings for the fiscal year 2024 are still on track, so there is no need to overly worry about banks reducing dividends due to capital pressure.
The effect of interest rate cuts on deposits is gradually becoming apparent, with interest expenses of many national banks decreasing in the first half of the year, and some banks reducing by more than 7%.
① According to the semi-annual reports of joint stock banks and state-owned banks, although the trend of deposit regularization is obvious, and coupled with the expansion of deposit scale, the cost of debt has actually been reduced for many banks. ② Recent earnings conferences have shown that executives of various banks have expressed the need to adjust the asset-liability structure, strengthen cost control of liabilities, and attract low-cost deposits. This will be the focus and deployment direction for commercial banks in the second half of the year.
Bank stocks firmly hold the "iron throne"! The total market value of the six major banks surpasses that of the GEM, with multiple stocks reaching new highs this year.
①The total market value of the six major banks has increased from 6.64 trillion yuan at the end of last year to the current 8.79 trillion yuan, with a total market value increase of over 2 trillion yuan. ②The total market value of the chinext price index has decreased from 11.39 trillion yuan at the end of last year to the current 8.67 trillion yuan.
A new round of interest rate cuts for deposits is about to end its first month: small and medium-sized banks continue to follow suit, and some banks have made a second adjustment within the month. Is there still room for further cuts?
① In the context of market interest rate decline, banks are facing continuous pressure to narrow their net interest margin. Some banks have directly lowered deposit interest rates, while others have adjusted them in a phased manner. ② The phenomenon of inverted deposit interest rates is the result of the combined effects of macroeconomic conditions, bank operational strategies, policy guidance, and market expectations.
What is the reason for the year-on-year decrease in net profit of some private banks? The Financial Regulatory Bureau responded.
Liao Yuanyuan said that the net income growth rate of private banks has experienced negative growth. Mainly because these banks have significantly increased their provisions compared to the same period last year, which directly affects the current profits and leads to a temporary decline in net income of private banks.
August LPR quote remaining unchanged meets market expectations. Industry experts predict that the main policy interest rate in the fourth quarter may be cut again, which will guide LPR to adjust accordingly.
Last month, the two LPR quotes for different maturity varieties were just lowered by 10 basis points respectively. In addition, the main policy interest rate of the central bank before this quote (7-day reverse repo rate) remained stable. Therefore, the unchanged LPR quotes for the two maturities in August are in line with market expectations.
Banks' giants have reached a new high in history! In recent days, northbound funds have been significantly buying up, and the active capital trend has been reviewed. These directions are also receiving hot money for increased positions.
Recently, bank stocks have shown strong performance, especially large-cap giants, with frequent stock price activity. Among them, Industrial and Commercial Bank of China, Construction Bank of China, and Bank of China hit a historic high today. Northbound funds have recently focused on adding holdings in the banking sector, with nearly 90% of bank stocks receiving shareholding in the past five days, and eight individual stocks having a net purchase amount greater than 0.1 billion yuan. In addition to the banking sector, Northbound funds have recently also focused on adding holdings in the electrical utilities, insurance, and securities sectors, while margin financing funds have favored the consumer electronics and chemical pharmaceuticals sectors in recent days.
Banks are intensively launching deposit benefits campaigns, and the effort to attract deposits is increasing. Can the idea of "high interest to attract deposits" be continued?
- With the further reduction of deposit interest rates and the emergence of deposit migration phenomenon, many banks have launched a series of deposit-related welfare activities to attract and stabilize deposits. - Experts believe that attracting deposits with welfare and gifts still has the suspicion of "high-interest deposits", which will inevitably increase the liabilities cost of some banks. Therefore, banks need to closely follow the pain points of customer preferences to improve the quality of financial services.
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