Jingu Finance | Banks generally trend higher, zybank (01216) rose by 9.38%, cm bank (03968) rose by 3.23%, industrial and commercial bank of china (01398) rose by 3.16%, postal savings bank of china (01658) rose by 2.44%, bank of communications (03328) rose by 2.01%, china construction bank corporation (00939) rose by 1.97%, china citic bank corporation (00998) rose by 2%.

Galaxy Securities stated that bank revenue and net profit recovery, narrowing of interest rate differentials, gradual optimization of cost of liabilities evident, major banks' crediting deployment and risk resistance capabilities are expected to benefit from national capital replenishment. Fiscal and monetary policies strengthen countercyclical adjustments, promoting economic recovery. With policy turning points, positive factors in the banking sector fundamentals are accumulating. Performance recovery, capital replenishment continue to support the dividend nature of banks. The bank remains bullish on the value of the banking sector allocation, maintaining a recommended rating.