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Bank of East Asia rises 5.88%CIMB downgrade to Neutral

Source: Internet
Author: User
Keywords Bank loan HK $
Tags bank stocks broke consolidation continued higher platform stock stocks
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The Bank of East Asia (00023-HK) rose 5.88% in half a day, to HK $27, a deal of HK $164 million, which continued to be strong in recent trading days and broke through the early stage of the consolidation platform;　　But CIMB downgraded the stock to neutral by winning the big city, the bank's share price has been reflected in advance, but it has raised its target price from HK $18.70 to HK $23.20 (though still below current) on a higher-than-earnings ratio, adding that East Asia is the best performing in the CIMB-tracked Hong Kong bank stocks. The bank said the growth of China's business lending in East Asia, which had been the bank's biggest profit point, had been sluggish since the fourth quarter of 08 after China's domestic bank lending restrictions were lifted, and it is likely to remain so in the near future.

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