Western Bank: Maintain Defensive Stance on Bank Stocks, Favor State-Owned Banks

Bullish · $0939.HK · $3988.HK · $2388.HK · $0998.HK · $002966.SZ

What Happened

Western Bank's weekly strategy note suggests that recent bank sector performance was driven by capital flows, with some institutional funds rotating out. They recommend modestly adding positions in state-owned large banks, leading joint-stock banks, and quality city commercial banks.

Bottom Line

Western Bank advises a defensive tilt in bank stocks, recommending accumulation of state-owned large banks, top joint-stock banks, and quality city commercial banks.

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