Changes in Hong Kong stocks | Bank of China stocks bucked the market and core bank stocks repeatedly reached new highs. Institutions expect the bank's performance to be stable, moderate and positive in the third quarter

The Zhitong Finance App learned that Bank of China shares rose against the market. As of press release, Bank of Gansu (02139) rose 5.37% to HK$0.255; Minsheng Bank (01988) rose 2.43% to HK$3.165; ICBC (01398) rose 2.35% to HK$7.615; and China Merchants Bank (03968) rose 0.96% to HK$52.65.

According to the news, the intraday stock price of ICBC's A shares reached a record high on October 27. Ping An Bank's third-quarter revenue and net profit continued the “double increase” trend in the first half of the year, becoming the first listed bank to release a three-quarter report. Recently, brokerage firms have intensively published the third-quarter results of listed banks, and it is generally expected that revenue and net profit to mother will continue to strengthen. The CITIC Securities Research Report predicts that the revenue and net profit of listed banks in the first three quarters are expected to increase by 7.2% and 3.2% year-on-year, respectively.

Changjiang Securities pointed out that bank stocks are still in the process of undervaluation repair and dividend value revaluation this year. Market style and risk appetite will not change the direction of recovery, but will only affect the pace of short-term restoration. Even in an environment of high risk appetite and net capital outflow in the first half of the year, bank stocks reached record highs. The style was rebalanced in the second half of the year, and core bank stocks further reached new highs. Considering the fundamental characteristics and valuation dividends of the current cycle, we still use state-owned banks, A-share high-quality commercial banks, as the core configuration, and focus on indicating the current stagnant growth target.