Economic Information Daily, 28th — Northbound trading via the Stock Connect resumed today, driving collective gains in mainland banks. ICBC (01398) rose 3.1% to HK$7.75; CCB (00939) gained 2.3% to HK$9.755; Bank of China (03988) advanced 2.5% to HK$6.13; ABC (01288) climbed 2.9% to HK$6.705; Bank of Communications (03328) increased 1.8% to HK$8.345; and China Merchants Bank (03968) rose 2% to HK$51.5.
The Hang Seng Index stood at 24,726, up 216 points or 0.9%, with main board turnover nearing HK$26.8 billion. The Hang Seng China Enterprises Index rose 90 points or 1.1% to 8,256. The Hang Seng Tech Index dipped 8 points or 0.2% to 4,303.
Recently, multiple large state-owned and joint-stock banks have launched customer asset growth incentive programs, offering rewards, points, and benefits to encourage clients to increase deposits and purchase wealth management products and funds, thereby boosting retail asset under management (AUM). Analysts noted that September marks the closing window of the third quarter, creating pressure for banks to meet interim retail targets. With net interest margins continuing to narrow and traditional lending spreads providing weaker profit support, banks are actively developing fee-based businesses and increasing the share of non-interest income. AUM-related wealth management intermediary income has become a key driver for stable revenue. Meanwhile, banks are using incentive programs to lock in existing customers and attract new ones, helping to secure their full-year retail foundation.
| Stock (Code) | Current Price (HK$) | Change (%) |
|---|---|---|
| ICBC (01398) | 7.75 | Up 3.13% |
| CCB (00939) | 9.755 | Up 2.31% |
| Bank of China (03988) | 6.13 | Up 2.51% |
| ABC (01288) | 6.705 | Up 2.92% |
| HSBCB (03698) | 4.78 | Up 1.92% |
| Bank of Communications (03328) | 8.345 | Up 1.83% |
| PSBC (01658) | 5.47 | Up 2.72% |
| CITIC Bank (00998) | 8.625 | Up 2.68% |
| Minsheng Bank (01988) | 3.47 | Up 1.31% |
| Chongqing Bank (01963) | 8.5 | Up 2.29% |
| Chongqing Rural Commercial Bank (03618) | 6.415 | Up 2.39% |
| China Merchants Bank (03968) | 51.5 | Up 1.98% |
