[ET Net News Agency, 4 January 2018] CLSA said HK system loan balances fell 3.0% MoM
while deposits dropped by 2.2% MoM driven by HK$. Benchmark interest rates continued to
rise but liquidity is ample and the gap between three-month Hibor-Libor widened during the
month.
HK domestic bank shares rerated sharply in 2017 and are now largely trading above the
research house's view of fair value. Hence, CLSA reiterated its "underweight" stance on
domestic HK banks.
Its preferred pick among HK's domestic banks is BOCHK (02388)(underperform; TP:
HK$40.5). The research house rated both Bank of East Asia (00023) and Hang Seng Bank
(00011) "sell", with respective target prices of HK$27.25 and HK$167. (KL)
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00023 BANK OF E ASIA
Nominal 
9.440 +0.010 (+0.106%) Others
04/01/2018 15:56
[I-bank focus]CLSA keeps "underweight" stance on HK banks
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