China Merchants Bank drops 1.6% Nomura advises waiting for better market entry point

Morning morning to go low and fell down the China Merchants Bank H-shares, afternoon stabilisation slightly favoured, now fell 1.61% to 15.84 Hong Kong dollars, 22.08 million shares.　　Nomura issued a report saying that it maintained its neutral rating, but raised its target price from HK $14 to HK $16.55, the equivalent of a 2009 earnings ratio of 15.86 times times higher than the market premium of 4.5%. Nomura pointed out that the long-term growth prospects of China Merchants Bank is good, because it is a leading consumer franchise bank, brand recognition is high, risk management is very strong, Cross-border platform expansion. But its long-term strength in franchise banking has been reflected in the valuations of China Merchants Bank, which is much higher than its peers, and shares are under pressure from the 2009 net interest rate and profit outlook. Nomura therefore advises investors to buy at a better market point timing.