China’s Bank Shares Trounce Global Peers Amid Sector Turmoil
- Citic Bank, BOC top Bloomberg stock gauge of global lenders
- Stable asset quality, policy support boost shares: analysts
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Shares of Chinese lenders are outperforming American and European peers amid concerns over the global banking sector, emerging as an oasis shielded from volatility abroad.
Of the 166 listed lenders tracked by the Bloomberg World Banks Index, eight of the top 10 performers over the past month are from China. Shares of the biggest state-owned banks have stood out, with China Citic Bank Corp. leading the gauge with a 11% advance in Shanghai, followed by Bank of China Ltd. with a 6.2% gain.