The Zhitong Finance App learned that Xiaomo released a research report saying that Bank of Hong Kong stocks may begin to experience a cyclical profit recovery in FY2021. Coupled with the subside of uncertainties and the potential rise in individual banks' dividend yields. The bank expects net interest spreads to continue to be under pressure in the second half of the year. However, as current and savings account ratios increase, the yield curve becomes steeper, and the improved economic environment promotes a more favorable loan structure, profit margin performance in FY2021 may continue to recover. The bank raised Hang Seng Bank's (00011) rating from “reduced holdings” to “increased holdings” in one fell swoop.

Bank of Hong Kong stocks continued to strengthen. As of press release, Standard Chartered Group (02888) rose 4% to HK$50.75; HSBC Holdings (00005) rose 3.06% to HK$43.8; and Hang Seng Bank rose 0.96% to HK$136.8.