Movement Alert｜China Merchants Bank Falls 3.02% in Regular Trading, Perpetual Bond Issuance and Banking Sector Pressure Weigh on Shares

Market Focus06-18

On June 18, China Merchants Bank (03968) fell 3.02% in regular trading, trading at 46.94 HKD/share, with turnover of HKD 335 million.

On the news front, China Merchants Bank recently completed the issuance of 20 billion yuan in perpetual capital bonds (Additional Tier 1), with a coupon rate of 1.99% for the first five years — down 6 basis points from the first tranche issued just two months earlier at 2.05%. The declining coupon reflects persistently falling market interest rates and intensifying net interest margin compression across the banking sector.

Industry-wide, banks have accelerated capital bond issuance amid weakening internal capital generation capacity. Total issuance of Tier 2 and perpetual bonds reached 986 billion yuan as of June 17, up over 60% year-on-year, with average issuance rates falling below 2%. The Diversified Banks sector traded broadly lower on the day, with ICBC down 3.12%, Bank of China down 1.88%, and CCB down 1.49%. Share-type banks have underperformed national banks and city commercial banks year-to-date, pressured by institutional selling and earnings headwinds.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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