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<Research>BOCOMI Recommends Seizing High Div. Main Theme w/ Focus on State-Owned Banks/ CM BANK/ PING AN
Recommend 85 Positive 122 Negative 83 |
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BOCOMI has issued a report recommending investors seize the high dividend main theme as it predicted that the supporting factors for high dividend strategies in Chinese financial stocks would be further strengthened. In the broker's opinion, while the core factors supporting high dividend strategies remain intact, the Donald Trump administration's tariff policies and heightened uncertainties have amplified volatility in the economy and capital markets, making high dividend assets even more attractive. Regarding the insurance sector, BOCOMI noted a divergence in asset and liability performance, with current valuations offering both defensiveness and flexibility. The broker preferred PING AN (02318.HK), CPIC (02601.HK), and PICC P&C (02328.HK). For the banking sector, the contribution of provisions to earnings is showing a divergent trend, and the drivers for high dividend strategies are further strengthening. BOCOMI suggested continuing to focus on targets with room for further provision releases, as well as on state-owned banks and CM BANK (03968.HK). With regard to the securities sector, BOCOMI expected a positive earnings trend in 2025 and valuations at relatively low levels. Favoring leading brokers with more balanced business structures, it kept a Buy rating on CITIC SEC (06030.HK) and HTSC (06886.HK). AAStocks Financial News |
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