News Sharing
For sharing news, please enter the email address of you and the receiver, then press SEND button.*Mandatory Fields
Receiver*
Enter email addresses, separated by semicolon (;). E.g. a@a.com;b@b.com
Your email address*
 Content Sharing
<Research>UBS: CN Apr New RMB Loans, TSF Both Miss; Top Picks BANK OF CHINA/ CCB/ ICBC/ CITIC BANK
Credit data remained weak in April, again falling short of consensus, UBS said in its report. New RMB loans and Total Social Financing (TSF) both came in below consensus, with RMB ...
Reset
Send
The window will close in 5 seconds
<Research>UBS: CN Apr New RMB Loans, TSF Both Miss; Top Picks BANK OF CHINA/ CCB/ ICBC/ CITIC BANK
Close
Recommend
11
Positive
16
Negative
14
 
SHORT SELL
 
STOCK INFO
aacat by AASTOCKS
Open a new trading account to get 1 Intel/Gold ETF share!

Credit data remained weak in April, again falling short of consensus, UBS said in its report. New RMB loans and Total Social Financing (TSF) both came in below consensus, with RMB loans recording a net contraction. Total new RMB loans amounted to - RMB10 billion, down RMB290 billion YoY and far below the market expectation of RMB468 billion.

The weakness was broad-based, reflecting net contractions in household and corporate loans across tenors, partly due to seasonality. Banks increased bill financing to a record RMB1.2 trillion, but this was still insufficient to offset the overall loan contraction. Dragged by weak RMB loans, new TSF also missed the market expectation of RMB1.4 trillion, coming in at RMB624.5 billion.

Related News CICC: 22 Stocks Added, 24 Removed in MSCI China Index May Review; Watch Related Inflow and Outflow Impact
UBS upheld a constructive view on Chinese banks, believing that 2026 could mark an inflection point for NIM, NII, revenue and PPOP, as deposit repricing lowers funding costs and turns overall revenue growth positive. Although net profit growth may lag in the near term due to higher provisions, the broker viewed asset quality risks are becoming increasingly manageable.

The broker therefore favored large banks with strong defensiveness and high dividend yields. Its top picks were BANK OF CHINA (03988.HK)  -0.070 (-1.323%)    Short selling $271.76M; Ratio 32.198%   , CCB (00939.HK)  -0.090 (-1.015%)    Short selling $681.99M; Ratio 41.823%   , ICBC (01398.HK)  -0.150 (-2.131%)    Short selling $294.34M; Ratio 26.848%   and CITIC BANK (00998.HK)  -0.060 (-0.726%)    Short selling $10.58M; Ratio 5.568%   , with TPs of HKD5.9, HKD10.2, HKD7.79 and HKD9.3 respectively, all being rated Buy.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-15 16:25.)

Auto-translated by AI
View Original Text
This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.

AASTOCKS Financial News
Copyright(C) AASTOCKS.com Limited 2000. All rights reserved.
Disclaimer: AASTOCKS.com Ltd, HKEx Information Services Limited, its holding companies and/or any subsidiaries of such holding companies endeavour to ensure the accuracy and reliability of the Information provided but do not guarantee its accuracy or reliability and accept no liability (whether in tort or contract or otherwise) for any loss or damage arising from any inaccuracies or omissions.