Hong Kong Stocks Pass Through The Bottom Of The Bank, H-Share H-Share Discount Is Broken.

6 banks were broken through the H-share market for 3 consecutive weeks.

According to the reporter's statistics, as of the closing of July 24th, the share price of H-shares in 6 banks of 9 AH listed banks has fallen below the net assets per share, with the lowest market rate being only 0.8 times.

A shares listed banks have been rid of the "broken curse", recently focused on two listed banks.

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The undervaluation of H-shares in listed banks has triggered the enthusiasm of mainland investors.

In the three consecutive week since July 6th, Hong Kong stocks in the South have shown great enthusiasm for Chinese banks, and the daily turnover data released by the HKEx show that almost every day there are bank shares in the list of the ten largest pactions in Hong Kong stocks, and at most 3 banks are listed on the same day.

All 9 listed banks in the two cities are all discount on H shares.

At the beginning of the opening of Shanghai and Hong Kong, almost all research reports have analyzed that the majority of H-share premium in AH listed banks will help A bank to repair valuations, and the price difference may be smoothed out.

However, beyond all the research reports, it is expected that Shanghai and Hong Kong have been in the market for more than half a year. The situation has changed suddenly. The listed banks in both sides are in the A share premium and H-share discount.

This reporter noted that as of July 24th, the H-share of 9 listed bank shares were all lower than those of A shares, and the H-shares of China Merchants Bank with less discount were more

About ten percent off, the rest of the bank's discount rate is between 10%-50%.

In terms of interconnection, on the surface, capital will flow to the lower end of valuation, but in fact, funds still yearn for the wealth effect. That is to say, which market has "wealth effect" and which funds will flow into the market. If the bank shares of A share market are strong, Shanghai and Hong Kong will show net inflow of funds; if Hong Kong stocks are stronger than A shares, Shanghai and Hong Kong will be net outflows relative to A shares, "senior market participants told reporters." from the current situation, in the early July, in view of the good fortune of A shares followed, many of them were beneficial to bank stocks and other blue chips, so the wealth effect appeared in the A share market and indirectly led to the increase of H-share discount rate. "Shanghai and Hong Kong stocks can be realized through Shanghai, Hong Kong and Shanghai."

In fact, the H-share market of the two listed banks not only suffered a discount, but also fell into a dilemma.

According to the reporter's statistics, as of the closing of July 24th, the share price of H-shares in 6 banks of 9 AH listed banks has fallen below the net assets per share, with the lowest market rate being only 0.8 times.

The remaining 3 uncracked banks have the highest value of H-share, which is only 1.2 times the net market rate.

Hong Kong stocks break through net banking stocks

The H-shares of listed banks in both sides have broken down, which undoubtedly highlights the valuation depressions of H-shares. Under the influence of interconnection channels between Shanghai and Hong Kong, mainland investors have begun to pay attention to the H shares of listed banks, and resolutely "go south" to make a copy of the bottom.

The reporter noted that during the three consecutive weeks since July 6th, Hong Kong stocks in the South showed great enthusiasm for Chinese banks, and the daily turnover data released by the HKEx showed that

Almost every day, there are bank shares in the ten big business activity list, and at most, there are 3 banks on the same day.

Among the 9 listed banks, the Bank of China was most popular with the Bank of China. In the three week period from July 6th to July 24th (15 trading days), the Bank of China listed 8 times on the list of Hong Kong stocks and traded on ten major pactions, followed by ICBC and 5 times. In addition, ABC and CITIC Bank each had four times on the list, while Everbright Bank was also on the list of -7 3 consecutive trading days in July 22nd.

"As Shanghai and Hong Kong pass through, investors expected that the H-share premium would bring incremental financing to A banks." the overall discount of H-shares has brought opportunities to the domestic banking stocks with higher discount rates in the H-share market, "the market participants told reporters.

The structure of investors is more diversified. In recent years, the valuation volatility of bank stocks is far less intense than A shares, and the volume enlargement is not as obvious as that of A shares. Therefore, it is still more difficult to achieve theoretical valuation in the near future.

The person also said, "now the bank's H-share discount rate is so high, or even up to 50%, there is a certain market opportunity.

However, because there are many differences between market rules and disclosure rules in the two markets, the idea of sharing the same rights with the stock market is more embodied in the right of income and voting after crossing the market, and the different prices caused by the market fluctuation can not be guaranteed to be resolved. If it is a long-term investment, it will pay more attention to the yield indicators such as the dividend yield. If it is short-term investment, the high discount rate can not be equated with the low risk. After all, the game rules of the two market investors are different, and the operation mentality of the capital is also very different.