BOC Hong Kong Rose 0.3% to repeat overweight rating

Source: Internet
Author: User
Keywords Credit stock price HK dollar
Tags bank of china closed closing closing price cost credit higher returns
The Chinese Bank of China, Hong Kong, yesterday closed a stalemate at the closing price, with shares now rising 0.31% to HK $13.1 and trading 10.8 million shares.  JPMorgan's report said it maintained its overweight rating and raised its target price from HK $10.5 to HK $16, a premium of 22% per cent. JPMorgan estimates that the Bank of China raised its earnings forecast for 09 and 10 by 15.9% and 11.1% per cent, with a growth of 13.3% and 16.7% of its shareholder returns, due to the high quality of credit assets and the increase in stock commission income, and the estimated credit cost for this year to be only 17 pips (previously estimated at 75 pips). It also refers to the opportunity for BOC to call back U.S. mortgage-backed securities (MBS), a catalyst for share prices.
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