 |
|
  |
2009-5-22 11:49:00 a.m. HKT, XFNA
DJ MARKET TALK: HK Banks Facing NPL Cycle, Not Crisis - GS
|
| |
| 1137 [Dow Jones] Goldman Sachs tips HK non-performing loan formation in 1H09 to ease from 2H08, credit costs to peak in 2H09, after latest HKMA data show declines in mortgage loans in negative equity. Notes mortgage debt in negative equity at 3.6% of total at end-March, vs 4.2% end-December. "The releases reaffirm our belief that HK banks face a NPL cycle, not a crisis," says Goldman. Keeps positive stance on HK banks on back of structural catalysts from CEPA and CNY trade settlement program; also notes reasonable valuations. Keeps HSBC (0005.HK), Hang Seng Bank (0011.HK), Wing Hang Bank (0302.HK), StanChart (2888.HK) at Buy. HSBC +0.6% at HK$66.60, Hang Seng Bank +1.2% at HK$98.25.(SUT) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=tCnGkHTeWgmwPEzABnwFQg%3D%3D. You can use this link on the day this article is published and the following day.
(Delayed by 1 hour)
-0-
Copyright (c) 2009 Dow Jones & Company, Inc. |
| |
News Provided by XFNA |
| |
|
| Copyright(C) AASTOCKS.com Limited 2000. All rights reserved |
| |
|
|
|
