Deutsche Bank bullish on Chinese banks benefit from economic recovery

Night network, network nightlife Wall Street FRANCISCO 12 pm news, Deutsche Bank (Deutsche Bank) believe that Chinese banks will benefit from the cyclical recovery, especially in the Hong Kong-listed Chinese banks have huge valuation advantage。  Hang Seng Index rose highest from early September lows of about 15%, but recently falling。But Deutsche Bank strategists think the market upward momentum Chang Yuliang strong momentum will continue, China raised banks and HKEx rating in the latest report。  Deutsche Bank noted that, after the central bank [microblogging] successive interest rate cuts, the new bad bank rate will slow down, corporate debt service (ie debt service) capacity will rise, so good for bank shares。In addition, Chinese bank shares belong to valuation of depression。  "H-share banks over the next 12 months is expected to book value only 0.7-fold, while return on equity (ROE) and dividend rates were as high as 14.4% and 6.2%。Book value is currently at a historic low, compared with the MSCI China Index 1.2 times the 38% discount, "the report said Deutsche Bank。  Deutsche Bank is particularly bullish on China Construction Bank。Thursday midday, H shares of China Construction Bank rose 0.73%。  In addition, Deutsche Bank is also optimistic about the upside of HKEx。Deutsche Bank noted that the ongoing financial reform (especially the capital account liberalization) will push China to accelerate integration into the global financial market, HKEx will be an important beneficiary。  "We expect the market volume will rise in Hong Kong, Hong Kong stocks because there is still much room to rise。In addition, a few months after the 'Shenzhen-Hong Kong-pass' release might be a pleasant surprise and ignite market sentiment, "wrote Deutsche Bank Report。(Tony compilation)