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<Research>JPM Continues to Favor CN Banking Sector; Top Picks BOC/ ICBC Among H-shr Banks
Recommend 14 Positive 33 Negative 12 |
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Since July 2025, banks within the MSCI China and CSI 300 indices have underperformed the indices, JPMorgan released a research report saying. However, the broker remained optimistic about China's banking sector. Although the macroeconomic environment in 2H25 is more challenging, the stabilization of net interest margins and the moderate recovery in fee income driven by wealth business are expected to continuously improve the income and profit growth of Chinese banks, JPMorgan noted. Among A-share banks, CMB (600036.SH) is the broker's top pick due to its decent dividend yield and higher sensitivity to capital markets. Among H-share banks, its top picks are BANK OF CHINA (03988.HK) and ICBC (01398.HK), as their dividend yields are relatively higher compared to peers, and BANK OF CHINA's stock performance has lagged behind SOE peers YTD. AASTOCKS Financial News Website: www.aastocks.com |
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