Chinese State-Owned Banks' H Shares Look Undervalued -- Market Talk

Dow Jones09-03

0954 GMT - Hong Kong-listed shares of Chinese state-owned banks are undervalued, says Iris Tan, senior equity analyst at Morningstar. SOE banks' A and H share prices fell about 8% and 4% after their 1H results, reflecting market disappointment, Tan says in a note. The selling followed the banks' market outperformance and came amid renewed concerns that net interest margins would come under further pressure from potentially lower lending rates and deposit rates, Tan adds. Morningstar raises its fair-value estimate on Agricultural Bank of China's H shares to HK$3.80 from HK$3.50, citing the lender's higher-than-expected margins and "above-peer NIM trend." The bank's shares closed at HK$3.45. (kimberley.kao@wsj.com)

(END) Dow Jones Newswires

September 03, 2024 05:54 ET (09:54 GMT)

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Morningstar raises its fair-value estimate on Agricultural Bank of China's H shares to HK$3.80 from HK$3.50, citing the lender's higher-than-expected margins and \"above-peer NIM trend.\" The bank's shares closed at HK$3.45. 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SOE banks' A and H share prices fell about 8% and 4% after their ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ACGBY","symbol_name":"农业银行ADR","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2464878286","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2464878286","pubTimestamp":1725357240,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0954 GMT - Hong Kong-listed shares of Chinese state-owned banks are undervalued, says Iris Tan, senior equity analyst at Morningstar. SOE banks' A and H share prices fell about 8% and 4% after their 1H results, reflecting market disappointment, Tan says in a note. The selling followed the banks' market outperformance and came amid renewed concerns that net interest margins would come under further pressure from potentially lower lending rates and deposit rates, Tan adds. Morningstar raises its fair-value estimate on Agricultural Bank of China's H shares to HK$3.80 from HK$3.50, citing the lender's higher-than-expected margins and \"above-peer NIM trend.\" The bank's shares closed at HK$3.45. 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SOE banks' A and H share prices fell about 8% and 4% after their 1H results, reflecting market disappointment, Tan says in a note. The selling followed the banks' market outperformance and came amid renewed concerns that net interest margins would come under further pressure from potentially lower lending rates and deposit rates, Tan adds. Morningstar raises its fair-value estimate on Agricultural Bank of China's H shares to HK$3.80 from HK$3.50, citing the lender's higher-than-expected margins and \"above-peer NIM trend.\" The bank's shares closed at HK$3.45. 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