On July 31, ICBC fell 3.27% in regular trading, trading at HK$7.44/share, with turnover of HK$442 million. The decline comes one day after all five major Chinese state-owned banks — including ICBC, CCB, BOC, ABC, and Bank of Communications — simultaneously hit all-time highs on the Hong Kong Stock Exchange on July 30.
The broader Diversified Banks sector experienced widespread selling pressure, with ABC down 4.15%, CCB down 2.56%, BOC down 2.17%, and CM Bank down 2.15%, while HSBC bucked the trend with a 1.70% gain. Multiple institutions had recently expressed positive views on the banking sector, citing stabilizing net interest margins, high dividend yield appeal in a low-rate environment, and expectations that second-quarter revenue and profit growth for the five major state banks would outperform industry averages. ICBC is scheduled to release its interim results on August 29.
(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.)
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