Streetbeat News

BACHY

Bank of China Ltd.

https://www.boc.cn/

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Monetary Authorities-Central Bank

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Bank Of China reported Q3 earnings per share of $0.66, unchanged from last year, with sales increasing by 7.58% to $22.48 billion.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2024 | 11:09 am

China's state-owned fund Central Huijin Investment Ltd. has bought $65.7 million in shares of Bank of China Ltd., China Construction Bank Corp, Agricultural Bank of China Ltd., and Industrial & Commercial Bank of China Ltd., raising its stake in each bank by ten basis points. The fund plans to continue these purchases over the next 6 months. Meanwhile, property developer stocks fell due to gloomy data from the Hong Kong home market, and EV stocks rose on positive sentiment. The report also mentioned that Chinese companies are gradually returning to list on US exchanges, albeit at a slower pace.

Portfolio Pulse from Daniel Harrison

October 12, 2023 | 3:54 pm

Despite the overall decline in Chinese stocks, six companies listed on US exchanges are currently offering dividends over 10%. These include Telco HKBN Ltd. (OTC:HKBF), China Shenhua Energy Company Limited (OTC:CSUAY), Guangdong Investment Limited (OTC:GGDVF), PCCW Limited (OTC:PCCW), Hysan Development Company Limited (OTC:HYSNY), and Bank of China Limited (OTC:BACHY). The iShares China Large Cap ETF (NYSE:FXI) is down 8% in 2023.

Portfolio Pulse from Daniel Harrison

October 11, 2023 | 4:57 pm

China's international policy stance and its reaction to global events, particularly the Hamas attacks in Israel, could potentially affect its trade growth and global status as a major trading partner. The country's focus on improving its international relations is crucial as its economic growth seems to be declining. The International Monetary Fund has revised down China's growth prospects for this year and next to 4.2%. Despite the country's property rout over the past year, exporter stocks such as PetroChina, Li Auto, BYD, XPeng have offered investors a silver lining as the Chinese government has invested heavily in its energy and innovation sectors.

Portfolio Pulse from Daniel Harrison

October 11, 2023 | 2:30 pm

The Hong Kong real estate market is facing a potential bubble burst due to a sharp decline in property prices and a surge in mortgage applications. Major real estate developers like Country Garden Holdings Limited and China Evergrande Group have seen significant drops in their stock prices. Local banks like China Construction Bank Corporation and Bank of China Limited have also been affected. Despite government interventions and stimulus policies, the market remains unstable.

Portfolio Pulse from Daniel Harrison

October 06, 2023 | 3:52 pm

Hong Kong-listed and Chinese companies are increasing stock buybacks and dividend payouts as their domestic markets remain depressed. This trend is expected to continue throughout the year. In 2022, Hong Kong stock buybacks amounted to $13.4 billion. The Hang Seng Index forecasts that the buyback trend will continue to over $90 billion of stock buybacks by year-end. Record dividend payouts by China’s biggest firms, including Bank of China Ltd. and PetroChina Co Ltd., have reached $206 billion so far this year. Among the Hong Kong companies buying back their shares are Yum China, Tencent, HSBC Holdings Plc., Hanison Construction Holdings Ltd., Bank of East Asia Limited, Cosco Shipping Development Co Ltd, Li Ning Co. Ltd. and Dongfeng Motor Co. Ltd.

Portfolio Pulse from Daniel Harrison

September 20, 2023 | 3:45 pm

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