UBS said that with the QE3 quantitative easing effect, capital continues to flow into the Hong Kong market. Since mid-October, bank balances in Hong Kong have increased by 50%. The time deposit of Dah Sing Bank (0440.HK) accounts for about 75% of its total deposit, and capital inflows. It is believed that Dah Sing Bank is the most benefited local banks, so it maintained the “buy” rating of Dah Sing Finance. The target price was raised from 34.7 yuan to 38.5 yuan. According to UBS, Daxin Financial's net interest spread has improved slightly and impairment provisions have been reduced. UBS raised its return on equity forecast to 7-8%. The group's capital level is OK. The core Tier 1 capital ratio is 10.3%, which is expected to be enough to support the Group's rise to the level of 0.7-0.8 times the market ratio, and the increased investment in mainland business will begin to provide profit contributions. UBS said that Dah Sing Bank's net interest spread for the first half of this year was 1.47%. Benefiting from QE3 capital inflows to reduce capital costs, the net interest spread is expected to increase slightly to 1.5% in the second half of the year. The bank expects that the number of units on its balance sheet will increase its net interest income by 6-7% next year, so it expects the net interest spread to be stable next year.