CCB Rose 5% Macquarie sought to fill up the possible

Construction Bank H-Shares Gaokaigao this morning, the shares rose markedly 5.34% to HK $5.33 a day, trading 1.236 billion shares.　　Macquarie issued a report saying that the unit's rating was raised from neutral to winning the market, while the target price was raised from HK $4.7 to HK $5.7, a premium of 7% per cent at market prices. Macquarie pointed out that the CCB in the 09 and 10 fiscal year earnings forecasts for each share increased by 4% and 9% respectively.　　With concerns about the sale of BofA's shares and the construction bank's high level of advance in the fourth quarter of 08, CCB's share price recently ran out, making it possible to raise the stakes, leading it to outperform Chinese banking stocks in the coming months. Macquarie synchronized the ratings of Chinese banks from neutral to outperform, and said the stocks were lagging behind, referring to the recent rally, which began April 22, when Chinese banks lost 7% of their shares to Asian banks, 18%. It is believed that such stocks are lagging behind and there is room for replenishment. Equity returns are expected to rebound from 17% in the first half of 2009 to 21% by 2012. In the long run, Macquarie believes that the main driver of the rise in share prices will be rising interest rates.