China’s Banks Become Surprise Winners of Frenzied Hunt for Yield
- AgBank, ICBC shares outperform benchmark CSI 300 Index in 2024
- Dividends, state support buoy sector amid economic concerns
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It’s arguably one of the last places you’d expect stock investors to turn as China’s economy struggles and its real estate crisis worsens.
But Chinese banks have suddenly become market darlings as investors bet their outsized dividend payouts and state support will make them winners in a country where yields on bonds have tumbled near record lows.