Changes in Hong Kong stocks | Bank of China stocks increased at the end of the session, CCB (00939) reached a new high, and Bank of America indicates that Bank of China's profits improved, but there is limited room for improvement

The Zhitong Finance App learned that the increase in domestic bank stocks increased at the end of the session. As of press release, China CITIC Bank (00998) rose 4.41% to HK$8.405; Bank of China (03988) rose 2.69% to HK$6.1; CCB (00939) rose 2.63% to HK$10.52; and ICBC (01398) rose 1.47% to HK$7.935.

Bank of America Securities's latest research report indicates that profits of Chinese banks improved in the third quarter, driven by investment income, but there was less room for buffer in the future. According to the report, H-share Bank's net profit growth in the third quarter improved from a 0.5% year-on-year increase in the first half of the year to a 1% increase in the first nine months, and the increase in operating profit before provision accelerated from 9.1% to 10.2%.

The bank pointed out that the sector has increased by 23.7% since the beginning of the year, outperforming the MSCI China and H share financial indices by 43 percentage points and 21 percentage points. Although Chinese banks should still be relatively resistant to falling when market conditions recede, after the sector recently rose to historic highs, the bank believes that there is absolutely limited room for upward movement, and the Agricultural Bank, China Construction Bank, and Industrial and Commercial Bank are still the first choice for large banks.