Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
<Research>HSBC Research Forecasts CN RRR Cut, Rate Cut to Bode Well for Banks/ Insurers/ Brokers; Top Picks HKEX/ BOCHK/ CCB/ ICBC/ Ping An/ CICC
Recommend 14 Positive 20 Negative 8 |
||||
|
||||
|
HSBC Global Research’s report noted that Chinese authorities announced a basket of market-stabilizing financial policies on May 7, aimed at boosting credit growth, lowering financing costs, and supporting capital market development. These measures are predicted to broadly benefit banks, insurers, and brokers. Relaxed equity investment rules for insurers may drive more capital into high yielders. HSBC Global Research’s top picks were HKEX (00388.HK), BOC HONG KONG (02388.HK), CCB (00939.HK), ICBC (01398.HK), PING AN (02318.HK), and CICC (03908.HK). While rate cuts and RRR reductions were anticipated, HSBC Global Research highlighted the policies’ extensive scope as a positive surprise for capital markets. Lower domestic interest rates and ample liquidity are expected to channel more funds into Hong Kong, boosting fee income and market trading volumes of institutions. The CSRC also plans to accelerate IPO approvals. HSBC Global Research lowered CICC’s target price from HKD21.6 to HKD20.4, maintaining a Buy rating. AAStocks Financial News |
||||
Copied to Clipboard
 |
||||
