Changes in Hong Kong stocks | Bank of China stocks generally adjusted today, Agricultural Bank (01288) and Industrial and Commercial Bank (01398) both fell by more than 2%

The Zhitong Finance App learned that domestic bank stocks were generally adjusted today. As of press release, Bank of Qingdao (03866) fell 3.82% to HK$5.165; Agricultural Bank (01288) fell 2.6% to HK$6.37; China Merchants Bank (03968) fell 2.62% to HK$51.95; and ICBC (01398) fell 2.21% to HK$7.525.

According to the news, on September 6, ICBC and the Agricultural Bank revealed plans to issue A-shares to specific targets on the same day. In total, they plan to raise no more than 260 billion yuan. Among them, the Agricultural Bank does not exceed 160 billion yuan, the ICBC does not exceed 100 billion yuan. The Ministry of Finance takes the lead and the tobacco department follows the investment. All of the funds raised are used to supplement the core Tier 1 capital. At this point, the two major state-owned banks that were absent in the first round of 2025 have completed capital injections. According to Zhongtai Securities, capital injections from the six major banks came to an end, targeted issuance of funds was not diverted, and the majority shareholders' holdings increased at no lower than the market price underpinned the valuation. There was no substantial change in the dividend rate of the major banks around 4%, and the dividend logic was not affected.

Everbright Securities also said that the estimated dilution ratio of the two major banks, such as EPS and dividend rates, is lower than the first batch. Profits can be recovered relatively quickly, consolidate capital and enhance momentum for capital expansion, and the combination of fundamental resilience and dividend attributes boosts investment value. The bank believes that short-term bank stocks are still dominated by hedging fluctuations and safe-haven defense attributes, and that recent real estate financing regulations and new insurance credit management regulations all provide a relatively favorable policy environment for bank stock investment.