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UBS: Near-term Significant Adjustment of CN Banks Presents Decent Buying Opportunities
Compiling US roadshow investor opinions, UBS found that 70% of investors still held underweight view on Chinese banks. Yet, situation has become optimistic in last few months as some investors may overweight Chinese banks, like ICBC (01398.HK)  -0.050 (-0.737%)    Short selling $356.43M; Ratio 22.563%   and CCB (00939.HK)  -0.030 (-0.370%)   Short selling $617.61M; Ratio 20.262%   . UBS said although Chinese banks upsurged previously, investors took fright at the sustainability of the uptrend, especially whether the stocks will be propelled by fundamentals turnaround.

UBS retained positive view on Chinese banks and preferred CCB, ICBC and CQRC BANK (03618.HK)  -0.010 (-0.153%)    Short selling $4.68M; Ratio 14.693%   . In light of low industry valuation, correction may occur in shortly. The research house believed this will be a good entry point. 

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