Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
<Research>HSBC Global Research Prefers BOC HONG KONG (02388.HK) Among HK Banks for Cheap Valuation
Recommend 18 Positive 38 Negative 17 |
||||
|
||||
|
HSBC Global Research has released a report indicating that the ADT of HKEX (00388.HK) has surged to about $330 billion since the HSI rebounded at the end of September. This has led to higher investor allocation in Hong Kong stocks, raising the demand for the HKD and driving up the HKD HIBOR, which will be favorable for banks' NIM performance in 4Q. Among Hong Kong banks, the broker preferred BOC HONG KONG (02388.HK) for its potential to elevate capital returns, growth in RMB businesses, benefits from changes in deposit structure, and ability to capture opportunities in inbound wealth management businesses. Believing that the current valuations of BOC HONG KONG and BANK OF E ASIA (00023.HK) remain cheap, the broker set a TP of $28.5 for BOC HONG KONG with a Buy rating, and a TP of $8.8 for BANK OF E ASIA with a Hold rating. AAStocks Financial News |
||||
Copied to Clipboard
 |
||||
