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<Research>JPM: Relaxation of Max. LTV, Reintroduction of 'Principal Payment Holiday' for SMEs Are Incremental Positives for HK Banks; Top Picks BOC HONG KONG/ DAHSING BANKING
Recommend 17 Positive 29 Negative 5 |
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The new Policy Address mentions the Hong Kong Monetary Authority (HKMA)'s further relaxation of maximum loan-to-value ratio (LTV) and the re-introduction of the “Principal Payment Holiday” support measures for SMEs, which are believed to help banks manage asset quality risks on relevant segments more flexibly and will have a positive impact on Hong Kong's banking sector, JPMorgan issued a research report saying. Among Hong Kong banks, JPMorgan preferred BOC HONG KONG (02388.HK) and DAHSING BANKING (02356.HK) as its top picks for their better underlying profit growth. JPMorgan's target prices for Hong Kong banks are listed below: Stock｜ Rating｜ TP (HKD) BOC HONG KONG (02388.HK)｜Overweight｜28 HANG SENG BANK (00011.HK)｜Neutral｜104 DAH SING (00440.HK)｜Overweight｜28 DAHSING BANKING (02356.HK)｜Overweight｜8.7 BANK OF E ASIA (00023.HK)｜Underweight｜8.3 AAStocks Financial News |
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