On December 29, the closing call auction of Industrial Bank changed, and the auction turnover was 21.6 billion, directly pulling up the sealing board, the previous increase was only 027%。On December 29, a relevant person from the investor** of Industrial Bank said that there is no information that should be disclosed within the bank.
On the same day, a number of private equity managers said that there is no need for rational investors to bid at the end of the day, if there is no major good news to announce, it is an oolong index incident, and most of them currently believe that the oolong index is more likely.
IB responded to the stock price fluctuations: After self-inspection and verification, the operating conditions are normal
On December 29, Industrial Bank issued an announcement saying that it was concerned about the daily limit of the bank's A-shares on that day, and the stock price rose significantly. After self-examination and verification, the bank's business situation is normal, there have been no major changes in the internal and external business environment, and there are no major matters that should be disclosed but have not been disclosed.
It is understood that on December 29, the Shanghai Stock Exchange issued the "Notice on the Abnormal Transactions of Industrial Bank's Call Auction on December 29, 2023", pointing out that during the call auction stage on December 29, IB fluctuated sharply, and after preliminary verification, it was caused by an investor's large declaration of transaction that significantly deviated from the latest transaction price. The SSE will conduct further in-depth verification of the relevant situation and take corresponding measures based on the verification results. The SSE reminds investors to participate in trading in compliance and prudence.
Judging from the overall performance of the banking sector, only one of the leading banks of Industrial Bank showed significant changes in the end of the market, and the rest were flat. Under the rise of the stock price of Industrial Bank, the CSI Bank Index also showed abnormal movements at the end of the session.
Industry: Oolong refers to the more likely
Judging from the news, there has been no quarterly index adjustment of MSCI, FTSE Russell and other index compilation companies in the near future. As a blue-chip stock with a total market value of more than 300 billion yuan, IB is not the first choice for the strategy of floating capital. Some industry insiders commented that there is no need for rational investors to bid for the price limit at the end of the day, and it cannot be ruled out that it is an oolong index event.
In addition, since today is the last trading day of the whole year of 2023, some investors speculate,The stock price change at the end of the market similar to Industrial Bank may be related to the competition for rankings or the maintenance of net value at the end of the year.
Since the beginning of this week, the valuation of the bank index has also recovered under the performance of the ** trend recovery. However, judging from the performance of the whole year, the banking sector as a whole declined. Choice data shows that as of December 29**, the banking sector was **789%。
CITIC** said that in 2023, policy adjustments and economic cycle rotation will affect investors' expectations, but dismantling bank balance sheets shows that the credit loss expectations implied by the current valuation of the banking sector are extremely pessimistic, and the net assets are stable. Dismantling the bank profit model shows that the industry's ROE is expected to bottom out in stages from 2024 to 2025.
Looking ahead to 2024,CITIC** believes that under the combined effect of the bottom of bank performance and the bottom of valuation, the valuation of the industry can be expected to increase, and the trend of bank stocks may change synchronously with the improvement of the credit expectation margin. In 2024, the monetary and financial environment is expected to continue to be loose, fiscal efforts will help stabilize investment, industry and exports will also show signs of recovery, bank performance is at the bottom but has been fully reflected in expectations, and macro signals conducive to bank stock investment are forming.
*: 21** (Xu Tingting), Listed Company Announcement, Shanghai ** News.
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Editor: Jiang Peipei, intern: Xiao Nan.
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