Agricultural Bank China Stock (OTC: ACGBF)

Latest news for Agricultural Bank China (OTC:ACGBF) Stock

As one of the big four banks, ABC is headquartered in Beijing. The bank evolved from a state-owned specialized bank to a state-controlled commercial bank. It listed on the Hong Kong and Shanghai Stock Exchanges in 2010. ABC operates more than 20,000-branch network in China, providing corporate and retail banking products and services, and carries out treasury operations for its own accounts or for its customers. Shareholders Central Huijin, China's state-owned investment company, and the Ministry of Finance own 37.15% and 32.47%, respectively. Corporate banking, retail banking, and wholesale banking accounted for 41%, 53%, and 6% of total revenue in the first half of 2023, respectively. Rural banking and urban banking contributed 49% and 51% of total revenue during the same period.

Asia

News

Penny Stocks

Markets

Real Estate

ACGBF

BABA

BACHY

BYDDY

CICHY

CTRYF

EVGRF

IDCBY

TCEHY

XPEV

SNCNQ

Shares of bank stocks lifted Hong Kong markets Thursday as China’s sovereign fund went on a bank buying spree.

Hong Kong Stocks Rally As Sovereign Bank Buy-Up Overshadows Climb In Negative Mortgages

Emerging Market ETFs

Global

ETFs

General

BIDU

Direxion Daily Developed Markets Bear 3x Shares

Direxion Daily Emerging Markets Bear 3x Shares

HSBC

RDS-A

RUSS

YANG

NPSNY

LUKOY

OGZPY

BACHF

Global Outlook: Not Good

Movers & Shakers

Intraday Update

Movers

Trading Ideas

AACAY

AAWW

ABBV

ABMD

ACRGF

ADMP

AERI

AGTK

AIBGY

ALKM

ALNA

ALSWF

AMAG

ANGI

APGMF

APNHY

APOP

ARCH

ARLO

ARLP

ARREF

ASRT

Alterity Therapeutics Limited - American Depositary Shares

ATHE

ATHOF

ATRA

ATVK

AVNS

AWLCF

AXGN

AXVEF

AZRX

AZZUF

BAFYY

BBCP

BBVA

BBVXF

BCDA

BCEFF

BCEL

BCYC

BDVSY

BEDU

BFIN

BHKLY

BICEF

BIOAF

BIREF

BJRI

BKKLY

BKRIF

BKRIY

BLCM

BLMN

BLRX

BNDSF

BNEFF

BPAQF

BPFH

BRKMY

BRTX

BrightSphere Investment Group plc Ordinary Shares

BSIG

BTHE

BUDZ

BWFG

BXEFF

BZLFY

CADE

CAIXY

CAKE

CALX

CARB

CARCY

CARG

CARS

Stocks That Fell Through 52-Week Lows Wednesday

AGRICULTURAL BANK OF CHIN by Agricultural Bank of China

Agricultural Bank of China Ltd

In a report released on January 1, Shujin Chen from Jefferies maintained a Buy rating on Agricultural Bank of China (ACGBF – Research Report), with...

Jefferies Remains a Buy on Agricultural Bank of China (ACGBF)

In a report released on January 5, Shujin Chen from Jefferies maintained a Buy rating on Agricultural Bank of China (ACGBF – Research Report), with...

Jefferies Reaffirms Their Buy Rating on Agricultural Bank of China (ACGBF)

Agricultural Bank of China Limited (ACGBY) Q4 2023 Earnings Call Transcript

Companies in the Financial sector have received a lot of coverage today as analysts weigh in on JPMorgan Chase & Co. (JPM – Research Report), Agric...

Analysts' Opinions Are Mixed on These Financial Stocks: JPMorgan Chase & Co. (JPM), Agricultural Bank of China (OtherACGBF) and CNO Financial (CNO)

Property Developer Debt Collection Enters New Phase With Shimao Liquidation

Agricultural Bank of China (HK:1288) has released an update. The Agricultural Bank of China announced successful completion of its 2023 annual gene...

Agricultural Bank of China AGM Concludes with Full Support

Agricultural Bank of China (HK:1288) has released an update. The Agricultural Bank of China has announced a strategic investment of RMB 21.5 billio...

Agricultural Bank of China Backs Tech with RMB 21.5B Investment

Agricultural Bank of China (HK:1288) has released an update. The Agricultural Bank of China has successfully issued its ‘2024 Undated Additional Ti...

Agricultural Bank of China Issues New Capital Bonds

Agricultural Bank of China (HK:1288) has released an update. Agricultural Bank of China Limited has announced the appointment of Mr. WANG Zhiheng a...

Agricultural Bank of China Appoints New President

Agricultural Bank of China (HK:1288) has released an update. Agricultural Bank of China Limited has officially appointed Mr. WANG Zhiheng as its Pr...

ACGBY

BCMXY

BKFCF

CICHF

EGRNQ

IDCBF

SHMAY

SIOPF

Agricultural Bank China

Shares of bank stocks lifted Hong Kong markets Thursday as China&rsquo;s sovereign fund went on a bank buying spree.

State-owned fund Central Huijin Investment Ltd. snapped up $65.7 million in Bank of China Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BACHY#OTC">BACHY</a>), China Construction Bank Corp (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CICHY#OTC">CICHY</a>), Agricultural Bank of China Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ACGBF#OTC">ACGBF</a>) and Industrial &amp; Commercial Bank of China Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/IDCBY#OTC">IDCBY</a>). The fund said that it would continue with the purchases over the next 6 months, although declined to specify to what extent.

Huijin raised its stake in each bank by ten basis points. The investment fund now owns 64.03% of Bank of China, 40.04% of Agricultural Bank of China, 57.12% of China Construction Bank and 34.72% of ICBC, according to Caixin. All the four banks were up between 4-5% in Hong Kong trading.

<a href="https://www.benzinga.com/markets/penny-stocks/23/10/35199032/these-6-chinese-stocks-are-paying-a-dividend-of-over-10-right-now" style="color:#0563c1">With Chinese dividend yields currently near historic highs</a>, share purchases of stocks by DChinese state funds are expected to be highly profitable over the medium term, according to the region&rsquo;s investment managers. &nbsp;

More measures are being taken by Beijing to lift flagging confidence in the Chinese mainland. The Chinese government is now expected to raise the deficit as it puts in 1 trillion RMB ($137 billion) to shore up the local economy, although some analysts say this won&rsquo;t be enough.

Property developer stocks were sharply down on more gloomy data from the home market in Hong Kong. (<a href="https://www.benzinga.com/markets/penny-stocks/23/10/35128718/is-there-a-real-estate-bubble-in-hong-kong-thats-about-to-burst" style="color:#0563c1">See this recent article on the Hong Kong housing bubble</a> at Benzinga for more.)

Hong Kong negative equity mortgages <a href="http://www.aastocks.com/en/stocks/news/aafn-news/NOW.1299308/3" style="color:#0563c1">may</a> be about to hit a 19-year high after succumbing to a 10% drop in home prices this year, according to new data. With expectations for another 10% fall in home prices on the island, that means that over 5% of all homes will enter negative equity territory. Negative equity mortgages are where the total sum of the mortgage held exceeds the value of the property.

Country Garden Holdings Company Limited (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CTRYF#OTC">CTRYF</a>) was down 1.3% while Sunac China Holdings Limited (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SNCNQ#OTC">SNCNQ</a>) fell 0.95%. China Evergrande Group (OTC:<a class="ticker" href="https://www.benzinga.com/stock/EVGRF#OTC">EVGRF</a>) plunged 9% by the end of the day&rsquo;s trading.

EV names fared better on sentiment that bailouts would add to increased purchases for automobiles and recovering deliveries. NIO Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) was up 1.1%, XPeng Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) gained 0.4%, Li Auto Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>) rose 1.6% and BYD Company Limited (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) jumped 3.1%

A <a href="https://asia.nikkei.com/Business/Markets/China-s-appetite-for-U.S.-IPOs-shows-little-sign-of-roaring-back?utm_campaign=GL_asia_daily&amp;utm_medium=email&amp;utm_source=NA_newsletter&amp;utm_content=article_link" style="color:#0563c1">report</a> by Nikkei said that Chinese companies are gradually coming back to list on US exchanges, although at a much slower pace that in 2021. Year-to-date, 17 Chinese companies have debuted on US exchanges, raising $405 million vs. 14 Chinese firms for the whole of 2022 which raised $468 million. That&rsquo;s still far off the $12.6 billion raised by 34 Chinese companies in 2021.

The report said that the Chinese companies that went public in the US between 2018 and 2021 have so far showed investors a -65% return from offer vs. just -16% for returns on non-Chinese IPOs in the US. Of the Chinese IPOs that have gone public this year, only one, Hesai Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HSI#NASDAQ">HSI</a>) has raised more than $50 million and that is currently trading at half the value it was in its February debut.

The report added that tighter accounting regulations for companies wanting to list stateside, by both Chinese and American authorities, as well as political tensions between the two countries were hampering a strong return to US markets for new China listings. &nbsp;

The report cited Alibaba Group Holding Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) as an example of the sort of stock that has fallen out of favor among investors in recent years due to these extenuating circumstances.

Alibaba rose in value in Hong Kong along with other big consumer names JD.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>) and Tencent Holdings Ltd (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCEHY#OTC">TCEHY</a>) on the market&rsquo;s broader bullish bailout sentiment.

The Hang Seng Index rose 1.9% to 18,283.21 while the CSI 300 finished the day 1% higher at 3,702.38.

Life for the bulls was rough in August. Major averages bounded from one end of a trading range to the other on a seemingly daily basis, sectors fell in and out of favorability in mere moments, and a now persistently inverted yield-curve is underpinning endless speculation of a recession.

But don&rsquo;t despair. That good news is that while U.S. markets struggle with their identity crises, international markets are showing clearer conviction. The bad news is that conviction is largely bearish.

We can get a sense of how short-term bears are positioning themselves via the surging performance of Direxion&rsquo;s suite of international leveraged bear ETFs.

<h3>Direxion Daily MSCI Developed Markets Bear 3X Shares</h3>

<a href="https://www.benzinga.com/files/u105576/4_9.png" onclick="imce.send('4_9.png'); return false;" title=""><img alt="4_9.png" src="https://www.benzinga.com/files/u105576/4_9.png" /></a> Source: Yahoo Finance, Data as of Sept 25, 3019

Gaining roughly 11% over July and August only to fall and bounce slightly into September, the Direxion Daily MSCI Developed Markets Bear 3X Shares (NYSE:<a class="ticker" href="/stock/DPK#NYSE">DPK</a>) has wavered on continued signs of a global economic slowdown, most of which are emanating from Europe. The persistent question of Brexit and the prospect of an impending economic shock from a no-deal exit from the European Union remains a major concern for the multinational banks and corporations doing business in the country. At the same time, weak economic data coming from Germany, one of the E.U&rsquo;s wealthiest member-states, has raised even more alarm from investors in the continent.

Aside from general anxiety, DPK was truly helped by the poor performance of multinational oil and gas concerns Royal Dutch Shell plc ADR Class A (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rds-a#NYSE">RDS-A</a>) and BP plc (NYSE:<a class="ticker" href="/stock/BP#NYSE">BP</a>). Other laggards bolstering DPK include British bank HSBC Holdings plc (NYSE:<a class="ticker" href="/stock/HSBC#NYSE">HSBC</a>) and German software company SAP SE (NYSE:<a class="ticker" href="/stock/SAP#NYSE">SAP</a>).

<h3>Direxion Daily MSCI Emerging Markets Bear 3X Shares</h3>

<a href="https://www.benzinga.com/files/u105576/3_20.png" onclick="imce.send('3_20.png'); return false;" title=""><img alt="3_20.png" src="https://www.benzinga.com/files/u105576/3_20.png" /></a> Source: Yahoo Finance, Data as of Sept 25, 3019

Trade tensions have also dimmed the outlook on emerging markets, as shown in the Direxion Daily MSCI Emerging Markets Bear 3X Shares (NYSE:<a class="ticker" href="/stock/EDZ#NYSE">EDZ</a>), which is up about 8% over the past three months. However, EDZ saw a larger move back in August thanks largely to its exposure to China and other East Asian nations impacted by the trade war, though the aforementioned recessionary fears among developed economies has lowered growth expectations globally.

China tech stalwart Alibaba Group Holding Ltd ADR (NYSE:<a class="ticker" href="/stock/BABA#NYSE">BABA</a>) is a good example of the impact of both these concerns. While Alibaba has continued the trend of solid quarterly earnings, the stock is down roughly 17% from its 2019 high, both due to trade war woes as well as the general volatility of the U.S. equity markets. Other tech companies in developing nations like Taiwan Semiconductor Mfg. Co. Ltd. (NYSE:<a class="ticker" href="/stock/TSM#NYSE">TSM</a>), down 3%, and South African internet firm Naspers Limited (OTC:<a class="ticker" href="/stock/NPSNY#OTC">NPSNY</a>), down 12%, are feeling similar headwinds to their near-term growth prospects.

<h3>Direxion Daily Russia Bull and Bear 3X Shares</h3>

<a href="https://www.benzinga.com/files/u105576/2_30.png" onclick="imce.send('2_30.png'); return false;" title=""><img alt="2_30.png" src="https://www.benzinga.com/files/u105576/2_30.png" /></a>

Source: Yahoo Finance, Data as of Sept 25, 3019

Aside from China, Russia has been among the most persistently bearish international markets in 2019 thanks largely to the country&#39;s reliance on oil exports. The bearish energy markets have helped the Direxion Daily Russia Bull and Bear 3X Shares (NYSE:<a class="ticker" href="/stock/RUSS#NYSE">RUSS</a>) rise by 12% in August before falling again and bouncing in September by about 4%.

The volatile pattern is a clear reflection of the fund&rsquo;s sector exposure, with 40% of the ETF devoted to energy companies like Lukoil (OTC:<a class="ticker" href="/stock/LUKOY#OTC">LUKOY</a>), down almost 10% since July, and Gazprom PAO (OTC:<a class="ticker" href="/stock/OGZPY#OTC">OGZPY</a>), down 10% down almost 3% in that span.

<h3>Direxion Daily FTSE China Bear 3X Shares</h3>

<a href="https://www.benzinga.com/files/u105576/1_39.png" onclick="imce.send('1_39.png'); return false;" title=""><img alt="1_39.png" src="https://www.benzinga.com/files/u105576/1_39.png" /></a> Source: Yahoo Finance, Data as of Sept 25, 3019

Up 14%over the past 3 months is, unsurprisingly, the Direxion Daily FTSE China Bear 3X Shares (NYSE:<a class="ticker" href="/stock/YANG#NYSE">YANG</a>). Despite the U.S.-China trade war already being more than a year old, YANG has actually spent much of 2019 in the red, though it&rsquo;s recently hit a new six-month high back in August on new tariff threats and rekindled trade fears.

Investors have recently punished large Chinese tech firms like Tencent Holdings ADR (OTC:<a class="ticker" href="/stock/TCEHY#OTC">TCEHY</a>) and Baidu Inc. (NASDAQ:<a class="ticker" href="/stock/BIDU#NASDAQ">BIDU</a>) while the nation&rsquo;s &ldquo;Big Four&rdquo; financial companies&mdash;The Bank of China (OTC:<a class="ticker" href="/stock/BACHF#OTC">BACHF</a>), The China Construction Bank (OTC:<a class="ticker" href="/stock/CICHY#OTC">CICHY</a>), Industrial Commercial Bank of China (OTC:<a class="ticker" href="/stock/IDCBY#OTC">IDCBY</a>) and The Agricultural Bank of China (OTC:<a class="ticker" href="/stock/ACGBF#OTC">ACGBF</a>)&mdash;struggle to find investors as the nation&rsquo;s currency continues to tumble in the midst of the trade war.

Direxion is a content partner of Benzinga

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Agricultural Bank China

News

Latest news for Agricultural Bank China (OTC:ACGBF) Stock

Thursday, October 12, 2023

Thursday, September 26, 2019

Wednesday, August 07, 2019

Monday, August 05, 2019

Friday, August 02, 2019