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From Underdogs to Overheated: China Bank Stocks Are Surging
- Earnings to improve and bad debt is stabilizing: analysts
- Bank of China has rallied to highest level since August 2015
Does China's Stock Rally Have Legs?
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Chinese bank stocks have gone from cold to hot in a matter of days.
Take Agricultural Bank of China Ltd. After falling by an annual average of 2.7 percent since its Hong Kong listing in 2010, the cooperative lender has climbed 15 percent in a blistering eight-day rally. Bank of China Ltd., priced well below the value of its net assets for the past 1 1/2 years, has now soared to levels last seen in August 2015.