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Express News | UBS Group assigns a 'Buy' rating to China Construction Bank Corporation with the Target Price raised to HKD 7.4.
UBS Group: Assigns China Construction Bank Corporation (00939) a "Buy" rating, raises the Target Price to 7.4 HKD.
Given that the company's capital buffer is higher than its peers and there is no tightness in capital injection, a "Buy" rating is given to China Construction Bank Corporation (00939), with the Target Price raised from HKD 6.5 to HKD 7.4.
In "The Big Bank," CICC listed the top 15 Hong Kong stocks heavily weighted by domestic actively managed equity Funds in the last quarter (table).
CICC published a research report on the positions of mainland public equity funds in Hong Kong stocks for the fourth quarter of last year, listing the top 20 Hong Kong stocks heavily held by mainland active equity funds last season (ranked by the number of funds holding them): Stock│Number of funds holding last season│Market Cap last season (RMB)│Shareholding change last season (RMB) Tencent (00700.HK)│979 funds│56.241 billion yuan│Increased by 1.473 billion yuan MEITUAN-W (03690.HK)│332 funds│22.315 billion yuan│Reduced by 5.669 billion yuan Xiaomi-W (01810.HK)│328 funds│18.229 billion yuan.
HAITONG INT'L: Waiting for investment opportunities after the Spring Festival, prioritizing blue chips before Technology.
HAITONG INT'L published a report indicating that the short-term market is experiencing stagnation under multiple bullish influences, and better allocation opportunities will arise when the market tests the bottom again after the Spring Festival. In terms of industry, the short-term focus is more on the preference of Insurance funds; oversold blue chips, such as Consumer stocks, may attract Insurance fund allocations. Technology has shown signs of stagnation and needs to wait for a correction before seeking allocation opportunities. Based on the latest trends and policy expectations, the bank has readjusted its prediction for the SSE Composite Index in 2025, with the main change from the forecast made at the end of September last year being a more optimistic outlook for the first half of the year. It is expected that after reaching the bottom post-Spring Festival, the market will be driven by liquidity, coming from Institutions/residents holding.
UBS Group raised the Target Price for China Construction Bank (00939.HK) to 7.4 yuan, with stable earnings per share and a dividend yield higher than its peers.
UBS Group published a report, maintaining the Buy rating for China Construction Bank Corporation (00939.HK) Listed in Hong Kong, with the Target Price raised from 6.5 yuan to 7.4 yuan, reflecting stable earnings per share and a dividend yield higher than peers, while the bank's dividend yield is 6.8%, which remains attractive among the four major banks. UBS Group stated that it is expected that the new loan volume for the bank this year will be roughly the same as last year, mainly focusing on corporate sectors such as green finance, technology, and infrastructure. As for loan pricing, China Construction Bank Corporation believes that if there are no further interest rate cuts in the future, pricing will tend to stabilize. However, UBS Group anticipates that the bank's net interest margin will still be affected in a low-yield macro environment.
【Brokerage Focus】CITIC SEC indicates that the advantages of Banks' net asset safety and ROE stability will continue to attract allocation demand and that the Sector's valuation still has upward potential.
Jinwu Financial News | CITIC SEC stated that in the fourth quarter of 2024, the proportion of Fund Hold Positions in the banking Sector will significantly increase, primarily due to the continuation of absolute return logic in the Sector. Especially after the important meeting at the end of December 2024, the market will come to a pause in policy games, and some funds will shift to a stable allocation style. Additionally, towards the end of 2024 and into early 2025, there will gradually be a seasonal allocation of incremental insurance capital. Both the absolute return and relative return of the banking Sector will record good performance. From December 16 to December 31, 2024, the China CITIC Bank Corporation stock Index rose by 4.9%, while the Wind All A Index fell by 4.0%.
