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    2388   HK2388011192

BOC HONG KONG HOLDINGS LTD

(2388)
  Report
Delayed Hong Kong Stock Exchange  -  04:08 2022-10-05 am EDT
26.70 HKD   +3.69%
09/15BOC Hong Kong Limited and Bank of China (Hong Kong) Limited Appoint Mr. Lee Sunny Wai Kwong as Independent Non-Executive Director, A Member of Each of Audit Committee, Risk Committee, Strategy and Budget Committee as Well as Sustainability Committee
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09/15BOC HONG KONG HOLDINGS LTD : Ex-dividend day for interim dividend
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09/13BOC HONG KONG HOLDINGS LTD : Half-year report
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Shanghai stocks end at 3-month high despite hawkish Fed, COVID woes

06/14/2022 | 04:48am EDT

SHANGHAI, June 14 (Reuters) - Shanghai stocks closed at three-month highs, while Hong Kong shares ended unchanged on Tuesday, despite an overnight slump in U.S. stocks on fears of aggressive U.S. rate hikes, as analysts expect China's growth to rebound with more policy support.

The blue-chip CSI300 index rose 0.8% to 4,222.31, while the Shanghai Composite Index gained 1% to 3,288.91 points, after dropping as much as 1.8%.

The Hang Seng index closed flat at 21,067.99, after slumping as much as 1.7%, while the China Enterprises Index lost 0.1%, to 7,333.61 points.

** Wall Street hit a confirmed bear market milestone amid a Goldman Sachs forecast of a 75-basis-point interest rate hike at the Federal Reserve's policy meeting on Wednesday.

** "U.S. inflation has direct impact on A-shares, as we can see from the performance in recent two days," said Wang Mengying, a stock index futures analyst at Nanhua Futures. "China stocks performance will eventually depend on expectations of domestic economic recovery."

** "However, if more aggressive rate hikes lead to less aggregate global demand, domestic expectations would also be hit."

** Authorities in China's capital Beijing are rushing to contain a COVID-19 outbreak traced to a 24-hour bar, with a health official saying the outbreak was "still developing".

** "I think the worst is actually behind us when it comes to the Omicron variant" said David Chao, global market strategist, Asia Pacific (ex-Japan) at Invesco.

** "While we see growth challenged in the first half of 2022, we expect a rebound in the second half driven by a combination of fiscal and monetary policy measures in contrast with many Western developed countries."

** Foreign investors were net buyers of China stocks, with Refinitiv data showing inflows of more than 7.1 billion yuan ($1.05 billion) through the Northbound leg of the Stock Connect programme.,

** Financials stocks jumped 2.7%, with banks adding 1.5%, while brokers soared 4.8%, and real estate developers gained 2%.

** Energy shares rose 2.3% and automobiles finished up 3.3%.

** Tech gaints listed in Hong Kong edged down 0.1%, with index heavyweights Alibaba Group down 2.5% while Meituan was up 3.3%.

** BOC Hong Kong Holdings led gains in local banks, rising 4.8% to become the biggest percentage gainer in the Hang Seng index. (Reporting by Shanghai Newsroom; Editing by Shailesh Kuber, Louise Heavens and Uttaresh.V)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING LIMITED 0.33% 84.39 Delayed Quote.-29.19%
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) -0.39% 0.6488 Delayed Quote.-10.43%
BOC HONG KONG HOLDINGS LTD 3.69% 26.7 Delayed Quote.0.78%
BRITISH POUND / US DOLLAR (GBP/USD) -1.12% 1.13232 Delayed Quote.-16.21%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) -0.83% 0.7339 Delayed Quote.-7.24%
EURO / US DOLLAR (EUR/USD) -1.03% 0.98817 Delayed Quote.-12.19%
HONG KONG HANG SENG 5.90% 18087.97 Delayed Quote.-27.00%
INDIAN RUPEE / US DOLLAR (INR/USD) -0.22% 0.01225 Delayed Quote.-8.62%
INVESCO LTD. -0.46% 15.25 Delayed Quote.-33.45%
MEITUAN INC. 8.16% 174.9 Delayed Quote.-22.40%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) 0.02% 0.5738 Delayed Quote.-16.33%
S&P/CITIC 300 INDEX -0.61% 3483 Real-time Quote.-22.44%
S&P/CITIC 50 INDEX -0.37% 3385.92 Real-time Quote.-19.31%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) 0.34% 7.0626 Delayed Quote.10.73%
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Financials
Sales 2022 55 910 M 7 123 M 7 123 M
Net income 2022 27 368 M 3 486 M 3 486 M
Net Debt 2022 - - -
P/E ratio 2022 10,4x
Yield 2022 4,93%
Capitalization 282 B 35 962 M 35 962 M
Capi. / Sales 2022 5,05x
Capi. / Sales 2023 4,24x
Nbr of Employees 14 220
Free-Float 33,9%
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Technical analysis trends BOC HONG KONG HOLDINGS LTD
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Mean consensus BUY
Number of Analysts 13
Last Close Price 26,70 HKD
Average target price 35,81 HKD
Spread / Average Target 34,1%
EPS Revisions
Managers and Directors
Yu Sun Vice Chairman & Chief Executive Officer
Cheng Gang Liu Chief Financial Officer
Lian Ge Liu Chairman
Xiang Qun Zhong Chief Operating Officer
Beng Seng Koh Independent Non-Executive Director
Sector and Competitors