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| HSI1 | 23,919.50 | 0.00 | -- |
| HSCEI1 | 8,057.59 | 0.00 | -- |
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2026-11-03 11:56:35 Chinese banks' 3Q results displayed divergence, with SOE large banks outperforming JSBs, mainly driven by NII and impairment charges, JPMorgan said in a report. Based on the 3Q results, ICBC (01398.HK), CCB (00939.HK), ABC (01288.HK) and BANKCOMM (03328.HK) may outperform in the short term, while PSBC (01658.HK), MINSHENG BANK (01988.HK), CEB BANK (06818.HK) and HUAXIA BANK (600015.SH) may underperform. From a 12-month perspective, the broker favored CCB, ICBC and BANK OF CHINA (03988.HK) among SOE large banks, and is also positive on CM BANK (03968.HK) and PU DEV BANK (600000.SH), which have stable earnings but lagging performance. However, strong growth of SOE large banks has partly been priced in. As revenue growth slows in 2027, the sector may see profit-taking if capital flows reverse. JPMorgan's ratings and target prices for Chinese bank H-shares are listed below: Stock|Rating|TP SOE Large Banks BANK OF CHINA (03988.HK)|Overweight|HKD7 CCB (00939.HK)|Overweight|HKD11.5 ICBC (01398.HK)|Overweight|HKD8.7 ABC (01288.HK)|Overweight|HKD7.35 PSBC (01288.HK)|Neutral|HKD5.9 BANKCOMM (03328.HK)|Neutral|HKD8.8 JSBs CM BANK (03968.HK)|Overweight|HKD63 CITIC BANK (00998.HK)|Overweight|HKD9.2 MINSHENG BANK (01988.HK)|Neutral|HKD3.35 CEB BANK (06818.HK)|Underweight|HKD2.2 ~ AASTOCKS Financial News Website: www.aastocks.com | |