601939 China Construction Bank Corporation
- 7.42
- -0.18-2.37%
China Construction Bank Corporation News
Tracker fund of Hong Kong net inflow of 6.01 billion HKD.
China's tracker fund (02800.HK), Hang Seng China Enterprise Index (02828.HK) and South China Hang Seng Technology (03033.HK) received net inflows of HKD 6.01 billion, HKD 1.248 billion and HKD 1.039 billion, respectively. Net outflows from China Mobile (00941.HK), China Unicom (00762.HK) and CNOOC (00883.HK) were HKD 0.905 billion, HKD 96.15 million and HKD 20.54 million, respectively. The highest net fund inflow in the Hong Kong Stock Connect (SH) was for the active stock tracker fund (02800.HK) with a net inflow of HKD 3.382 billion.
Northbound funds| Net buying of 8.773 billion yuan, domestic funds rushing to buy tracker fund of Hong Kong (02800) for over 6 billion Hong Kong dollars, selling high dividend stocks all day.
On July 26th, the Hong Kong stock market had a net purchase of HKD 8.773 billion in Beishui, including a net purchase of HKD 4.881 billion in the Hong Kong Stock Connect (Shanghai) and a net purchase of HKD 3.892 billion in the Hong Kong Stock Connect (Shenzhen).
Illustration: Southbound funds reduce their holdings in China Mobile and China Construction Bank Corporation.
The net purchase of Hong Kong stocks by southbound funds today was 8.773 billion Hong Kong dollars. Among them: net purchases of tracker fund of Hong Kong 6.01 billion, Hang Seng H-Share Index ETF 1.248 billion, CSOP Hang Seng Tech Index ETF 1.039 billion, Tencent 0.528 billion, and East buy 0.18 billion; net sales of China Mobile 0.904 billion, China Construction Bank Corporation 0.716 billion.
Express News | Southbound capital had a significant net purchase of 8.773 billion yuan today. In terms of Shanghai-Hong Kong Stock Connect, tracker fund of Hong Kong and Hang Seng H-Share Index ETF had net purchases of 3.382 billion HKD and 0.701 billion HKD respectivel
China Construction Bank: Appointed Zhang Yi as Vice Chairman of Board
China Construction Bank Names Vice Chairman
China Construction Bank Corporation (00939): Zhang Yi's qualification as vice director has been approved.
China Construction Bank Corporation (00939) announced that on June 27, 2024, the board of directors of the bank approved the appointment of Zhang Yi...
Express News | China Construction Bank appoints Zhang Yi as deputy director.
China's 'Big Four' Banks Cut Interest Rates
China: Consumer goods in the Mainland could lead to GDP growth by 0.3 percentage points, or increase household appliance sales by 15%
China's Ministry of Finance issued a notice on “Certain Measures to Support Large-Scale Equipment Upgrades and Replacement of Consumer Goods” by the National Development Reform Commission and the Ministry of Finance. Proposed the coordination of around RMB 300 billion (below) in ultra-long term special government debt financing, and strongly supported large-scale equipment upgrades and the replacement of old consumer goods. This indicates a further decline in positive fiscal policy, which the Bank expects could drag down GDP growth by around 0.3 percentage points.
Morgan Stanley: Focus on managing net interest spread as internal banks confirm lowered deposit rates.
JPMorgan released a report stating that the announcement by six large state-owned banks of a reduction of deposit interest rates on the previous day (25th) was not unexpected, based on earlier media reports. The bank reiterated its positive view on China mainland banking, based on the narrowing net interest margin gap of two basis points resulting from the reduction of deposit interest rates and loan market quote rates (LPR), which is estimated to increase the bank's earnings by 2% next year. The rapid reduction of deposit interest rates also confirms the bank's view that regulatory authorities and banks are more focused on stabilizing the net interest margin. The bank believes that future interest rate cuts will be symmetrical, and the reduction of deposit interest rates will be accompanied by a reduction in LPR. The bank also noted that regulatory authorities are cracking down on banks' artificial intervention in interest rates, including deposits.
HSBC Research's investment rating and target price for China Mainland Banking and HKEx (00388.HK) (Table) in The Big Bank
HSBC Research has released a research report that lists the latest investment ratings and target prices for China Mainland Banking and HKEX (00388.HK) as follows: Stocks | Investment Rating | Target Price (HKD) HKEX (00388.HK) | Buy | 312 Industrial and Commercial Bank of China (01398.HK) | Buy | 5.5 China Construction Bank Corporation (00939.HK) | Buy | 7.3 Bank of China (03988.HK) | Buy | 4.2 CM Bank (03968.HK) | Buy | 46.5
Hong Kong stock market noon review: three major indexes rose and fell, the science and technology index rose 0.66%; golden industrial concept performed well with chinagoldintl rising nearly 5%; east buy volume fell more than 20%.
The Hang Seng Index rose by 1.3% at one point and closed up 0.17% at noon, while the CSI 300 fell slightly by 0.07%. The Hang Seng Technology Index rose by 0.66%, once reaching as high as 1.6%.
HSBC Research: Lowering deposit rates for domestic banks is a surprise. Preferential construction bank (00939.HK), industrial and commercial bank (01398.HK), Bank of China (03988.HK), China Merchants Bank(03968.HK) and HKEX (00388.HK).
HSBC Research has published a research report indicating that major banks in mainland China have recently lowered deposit rates, causing surprise. Although current deposit rates are already low, there is still room for further reduction, and the reduction in interest rates for fixed-term deposits of 2 to 5 years exceeds the reduction in LPR. Therefore, it is expected that the cost of transferring the reduction in LPR to deposit costs may increase from the originally expected 25% to close to 50% to 100%. Assuming a transfer rate of 50%, the bank's net interest margin (NIM) is expected to be affected by approximately 1 to 2 basis points, or a reduction in profit of 1% to 2.3%. If the transfer rate is 100%, the impact on the bank's NIM and profit will be more severe due to a greater proportion of deposit balances subject to the reduced interest rates.
Government bond futures hit a new historic high yesterday. Analysis suggests the fundamental aspects of the market still support a further decline in bond yields.
According to a report from the Shanghai Securities News, the national bond futures hit a new historic high following the news of a state-owned bank lowering deposit rates and the central bank lowering MLF operational rates by 20 basis points. Yesterday (25th), the main contract for the 30-year national bond futures rose by 0.4%, setting a new closing high, while the main contract for the 10-year national bond futures fell slightly but still reached a historic high during the trading day. Analysts believe that although short-term interest rates have significantly declined after the interest rate cut, long-term interest rates remain relatively restrained, but fundamental factors still support further declines in bond yields. In the current market sentiment and policy environment, institutions suggest that investors be cautious in bond investment and avoid excessive operations.
The outflow of tracker fund of Hong Kong Stock Connect was 2.117 billion Hong Kong dollars net.
Net inflow from the north and south to Tencent (00700.HK) reached HKD 0.552 billion. Net outflow from the north and south went to Tracker Fund of Hong Kong (02800.HK), HSBC Hang Seng Tech ETF (03033.HK) and Hang Seng China Enterprises ETF (02828.HK), respectively reaching HKD 2.117 billion, HKD 1 billion and HKD 0.745 billion. The highest net inflow of funds in the Hong Kong Stock Connect (Shanghai) among active stocks is Bank of China (00939.HK) with HKD 0.116 billion, while the highest net outflow of funds is Tracker Fund of Hong Kong (02800.HK) with HKD 1.67 billion. The highest net inflow of funds in the Hong Kong Stock Connect (Shenzhen) among active stocks is
Northbound funds trend: Northbound funds sold a net of 4.66 billion yuan worth of Hong Kong stocks, with domestic investors selling over 2.1 billion yuan worth of Hong Kong Tracker Fund (02800).
On July 25th, the Hong Kong stock market saw net sales of 4.66 billion Hong Kong dollars from Northbound trading, with a net sell of 1.838 billion Hong Kong dollars from the Shanghai-Hong Kong Stock Connect and a net sell of 2.823 billion Hong Kong dollars from the Shenzhen-Hong Kong Stock Connect.
Express News | Southbound capital saw a net sell-off of 4.66 billion yuan today. As for the Hong Kong Stock Connect (Shanghai), Tracker Fund of Hong Kong and Hang Seng H-Share Index ETF saw net sell-offs of 1.67 billion HKD and 0.428 billion HKD respectively, while Chin
Hang Seng Index fell by 306 points, Meituan dropped more than 5%, and resource and energy stocks were weak.
The USD/JPY exchange rate fell to the edge of 152, triggering a global stock market decline due to arbitrage trading and unwinding. As for the Hong Kong stock market, the Hang Seng Index opened low by 50 points and the decline expanded. It fell to 16,964 points after a drop of 346 points, and closed at 17,004 points, a decrease of 306 points or 1.8% for the whole day. The national index fell 125 points or 2.1%, closing at 6,016 points. The Hang Seng Tech Index fell 69 points or 2%, closing at 3,421 points. The total turnover of the market for the day was HKD 105.734 billion, with a net outflow of RMB 0.36 billion and 1.64 billion in the southbound trading under the Shanghai and Shenzhen-Hong Kong Stock Connect. The chip equipment manufacturer ASMPT (00522.HK) fell after its performance announcement yesterday.
Hang Seng Index fell below 17,000 in the afternoon, hitting a three-month low, while Meituan declined more than 6%. Local stocks outperformed Evergrande and reached a nearly two-year high in energy.
Dragged down by heavyweight technology stocks such as 'Amazing Seven Heroes', the three major stock indices in the US fell significantly on the night of the 24th; the VIX index, which reflects the market panic, surged 22.6%. Stimulated by the increase in global arbitrage trade liquidation, the yen continued to rise to a two-and-a-half-month high, rising 1% at its highest to 152.22 against the US dollar. Safe-haven sentiment has risen sharply, and major stock markets in the Asia-Pacific region fell across the board today (25th), with the Nikkei index closing down 1,285 points or 3.3%. Following the decline in the past two days, the Hong Kong stock market fell below the 17,000 mark in the afternoon, dropping 335 points at its lowest to a three-month low of 16,975, and is currently reporting 17,010, continuing its decline by 300.
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