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2009-6-25 09:15:00 a.m. HKT, XFNA
DJ MARKET TALK: Positives Continue To Stack Up For China Bks-Citi
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| 0851 [Dow Jones] "Positives continue to stack up" for Chinese banks, says Citigroup, citing strong loan growth, favorable policy. Says NIMs mostly bottomed in April, most banks expect some recovery due to improving loan mix, downward repricing of time deposits; "we view NIM risks as increasingly skewed to the upside" also due to buoyant A-share market (positive deposit mix shift, IPOs to cause short-term tightening of interbank/repo rates), possible rate hike expectations going into 2010. House tips top picks as China Construction Bank (0939.HK), ICBC (1398.HK), Citic Bank (0998.HK), target prices HK$7.30, HK$6.30, HK$5.50 respectively. CCB best performing yesterday, +3.0% at HK$5.85.(RLI) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com
(Delayed by 1 hour)
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