BofA
Merrill Lynch, in its latest research report, said the Mainland banks
stocks of higher risk assets and liabilities will benefit more from the
declined interest rates, expecting Mainland banking sector will
outperform against the insurance sector. In the Mainland banking sector,
MINSHENG BANK (01988.HK) +0.110 (+1.478%) Short selling $25.43M; Ratio 7.387% and CCB (00939.HK) +0.020 (+0.357%) Short selling $41.99M; Ratio 5.762%
were chosen as the top picks. Meanwhile, due to Shanghai-Hong Kong
Stock Connect, the valuation of brokerage H shares is much higher than
that of Mainland banks shares, and the former should have limited upside
potential in near term. The research house expects CHINA CINDA
(01359.HK) -0.050 (-1.425%) Short selling $5.92M; Ratio 5.008% to outperform against other brokerage stocks, and downgraded CITIC SEC (06030.HK) -0.380 (-2.023%) Short selling $22.97M; Ratio 29.345% from Buy to Neutral.
UCD (01599) plans to raise Rmb600m from A shares issue Beijing Urban Construction Design & Development Group (UCD) (01599) said it proposes to apply for initial public offering of Renminbi ordinary shares and listing. The number of public issuance of shares amounts to not more than 149.86 million shares. The issuance price of A shares shall not be lower than Rmb2.91 per share. The total proceeds raised from the issuance of A shares amount to Rmb600 million, which will be used for upgrading and reconstructing project of the design centre, the national engineering...
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