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Express News | Today, 49 A-share stocks have undergone bulk transactions, with Inno-tech having the highest discount rate of 29.89%.
Express News | The recent banks' deposit interest rate cuts are conducive to stabilizing banks' liabilities and reducing costs, bullish for corresponding stocks' valuations.
Hong Kong stocks fluctuate | CM Bank (03968) falls more than 4%, leading the decline in China Mainland Banking. The central bank optimizes the interest rate system, but the interest rate spread of banks still continues to narrow.
China mainland banking stocks continued to decline in the morning session. As of press time, CM Bank (03968) fell 4.2%, to HKD 31.95; Minsheng Bank (01988) fell 3.94%, to HKD 2.68; Bank of Communications (03328) fell 2.93%, to HKD 5.64; and China Construction Bank Corporation (00939) fell 2%, to HKD 5.39.
Citigroup's investment rating and target price for China mainland banking stocks in "Great Banks" (Table).
Citigroup released a research report on China mainland banking, and the investment ratings and target prices are listed as follows: Stock | Investment rating | Target price (Hong Kong dollar) Industrial and Commercial Bank of China (01398.HK) | Buy | HKD 5.52 China Construction Bank Corporation (00939.HK) | Buy | HKD 7.15 Bank of China (03988.HK) | Buy | HKD 4.54 Agricultural Bank of China (01288.HK) | Buy | HKD 4.15 Postal Savings Bank of China (01658.HK) | Buy | HKD 4.84 Bank of Communications (03328.HK) | Buy
Expert: Unexpected increase in MLF operations meets the medium- and long-term fund needs of financial institutions.
The People's Bank of China announced today (25th) the one-year MLF operation of CNY 200 billion through interest rate auction, with the winning interest rate down 0.2 percentage points from the previous time to 2.3%. This is the second MLF operation conducted by the People's Bank of China this month, and the MLF interest rate has been lowered for the first time since August 2023. This increased MLF operation meets the medium and long-term funding needs of financial institutions. According to expert sources cited by The Paper, with the upcoming end of the month, the liquidity demand of financial institutions has significantly increased, and there is some upward pressure on the interest rates in the currency market, with some institutions participating in the MLF.
Mainland China banking stocks in Hong Kong generally fell, with CM Bank's stock dropping by 3%.
On July 25th, CM Bank fell by 3%, Minsheng Bank fell by 2.5%, CEB Bank, Postal Savings Bank of China, and China CITIC Bank Corporation all fell by over 1.5%.
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