Hong Kong Bank Stocks Rally, Four Major Lenders Up Over 2%
Hong Kong-listed Chinese bank stocks rallied on Tuesday morning, with the four major state-owned lenders each rising more than 2%. Bank of China hit a record high, trading at HK$6.11, up 2.7%. Other lenders also advanced, led by China Everbright Bank's 3.4% gain.
Hong Kong-listed Chinese bank stocks rallied broadly, with the four major state-owned lenders each rising more than 2%. As of 10:44 a. m. , Bank of China traded at HK$6.11, up 2.7%, after hitting an intraday high of HK$6.14, a record level. Industrial and Commercial Bank of China stood at HK$7.725, up 2.4%; China Construction Bank at HK$9.81, up 2.6%; and Agricultural Bank of China at HK$6.535, up 2.2%.
Other bank stocks also advanced. Bank of Communications rose 1.5% to HK$7.98; China Merchants Bank gained 1.8% to HK$52.85; Postal Savings Bank of China added 1.8% to HK$5.475; China Everbright Bank climbed 3.4% to HK$2.91; CITIC Bank rose 2.1% to HK$8.53; and China Minsheng Bank advanced 2.3% to HK$3.625.