On June 25, ICBC fell 3.25% in regular trading, trading at HK$6.55/share, with turnover of HK$859 million.
On the news front, international gold prices plunged below the $4,000/oz mark on June 24, hitting a new low since November last year, dragging precious metals stocks broadly lower. Simultaneously, ICBC announced it will cease acting as agent for individual precious metals competitive trading on the Shanghai Gold Exchange effective after the end-of-day clearing on July 24, covering multiple contract types including Au99.99, Au(T+D), and Ag(T+D), with position-holding clients facing restrictions on liquidation and delivery.
The banking sector came under collective pressure, with Bank of China declining 6.83%, CCB down 2.71%, and CMB down 1.97%. Market participants noted that post-dividend capital withdrawal combined with fund rotation toward growth sectors continued to weigh on the sector. Additionally, ICBC recently completed a RMB 50 billion Tier-2 capital bond issuance and a Dubai branch RMB 2.8 billion note offering, keeping its intensive financing pace in focus.
(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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