Banks: Industrial & Commercial Bank of China Ltd. (601398 CH) rose 6.8 percent to 5.00 yuan. Bank of China Ltd. (601988 CH) gained 1.8 percent to 3.44 yuan. Agricultural Bank of China Ltd. (601288 CH) added 1.1 percent to 2.75 yuan.
Approvals of new loans to property developers by the country’s four largest banks ceased since the end of October after they met their allotted targets for the year, the state- run China Real Estate Business reported, citing unidentified executives at the banks.
Agricultural Bank of China and China Construction Bank denied the report, Caixin Online reported today, citing unidentified people at the banks.
China’s metals producers may extend declines in the “near term” on speculation the country will tighten monetary policy, according to China International Capital Corp.
To contact the editor responsible for this story: Darren Boey at firstname.lastname@example.org