Introduction to this report:
Today, the A-share banking sector fell 0.05%, with Qilu Bank Co.Ltd(601665) leading the gains. The meeting of the national standing committee decided that large banks with high provision level should reduce the provision rate in an orderly manner and use reserve requirement reduction and other monetary policy tools in a timely manner.
Summary:
Maintain the “overweight” rating of commercial banks. Recommended targets: Bank Of Ningbo Co.Ltd(002142) , Bank Of Chengdu Co.Ltd(601838) , Bank Of Jiangsu Co.Ltd(600919) , Jiangsu Suzhou Rural Commercial Bank Co.Ltd(603323) , Ping An Bank Co.Ltd(000001) , China Merchants Bank Co.Ltd(600036) .
Bank share price performance today:
1. Today, the wind bank index fell 0.05%, with an annual cumulative increase of 3.22%.
2. The top three gainers of A-share banking stocks today are: Qilu Bank Co.Ltd(601665) (+ 4.20%), Bank Of Nanjing Co.Ltd(601009) (+ 1.24%), China Minsheng Banking Corp.Ltd(600016) (+ 0.79%).
3. The top three declines in today’s A-share banking stocks are: Zhejiang Shaoxing Ruifeng Rural Commercial Bank Co.Ltd(601528) 2.82%, Bank of Lanzhou (-2.27%), and Bank Of Chengdu Co.Ltd(601838) 1.92%.
4. Today, BEIXIANG capital net purchases China Merchants Bank Co.Ltd(600036) 290 billion yuan and net sales Industrial Bank Co.Ltd(601166) 35 billion yuan; Nanxiang capital net sold HK $ China Construction Bank Corporation(601939) 129 million and HK $ Industrial And Commercial Bank Of China Limited(601398) 168 million.
Today’s important industry news:
1. (State Council) Premier Li Keqiang chaired an executive meeting of the State Council on April 13 to deploy policies and measures to promote consumption, help stabilize the economic fundamentals and ensure the improvement of people’s livelihood; It is decided to further strengthen policy support such as export tax rebate to promote the steady development of foreign trade. The meeting decided to encourage large banks with high provision level to reduce the provision rate in an orderly manner, timely use monetary policy tools such as RRR reduction, further strengthen financial support for the real economy, especially industries seriously affected by the epidemic, small, medium-sized and micro enterprises and individual industrial and commercial households, reasonably transfer profits to the real economy and reduce comprehensive financing costs.
Today’s important company announcement:
There is no important announcement today.
Risk tip: the economy is expected to decline, and the real estate risk is exposed.
