Bank of China Hong Kong Stocks Hit New High at HK$50.55, Up 4.5%

2026-07-24 02:03:19

Key Takeaways

Bank of China (Hong Kong) shares reached new high of HK$50.55, rising 4.5% on strong trading volume exceeding HK$330 million.
Goldman Sachs forecasts Bank of China Hong Kong second-quarter profit at HK$10.51 billion, up 2% year-on-year.
Goldman Sachs maintains HK$53.3 target price and Buy rating for Bank of China Hong Kong shares.

Bank of China (Hong Kong) (02388) shares rose sharply, breaking through HK$50 and reaching a new high of HK$50.55, up as much as 4.5%. As of 9:50 AM, the stock traded at HK$50.15, up 3.7%, with turnover exceeding HK$330 million. Goldman Sachs released a report last week forecasting the bank's second-quarter profit at HK$10.51 billion, representing a 2% year-on-year increase but a 16% quarter-on-quarter decline, driven by normalized credit costs and a pullback in other non-interest income.

Goldman Sachs Forecasts Q2 Profit and Analyst Meeting Focus

Goldman Sachs attributed the anticipated double-digit quarter-on-quarter profit decline in the second quarter to two primary factors: the normalization of credit costs and the normalization of declines in other non-interest income. The investment bank stated that the upcoming analyst meeting is expected to focus on three key areas: updates to the 2026-2028 capital return plan, the outlook for commercial real estate exposure in Hong Kong and mainland China, and the potential impact of new cross-border reporting regulations in China.

Goldman Sachs Maintains Buy Rating and HK$53.3 Target Price

Goldman Sachs maintained its 12-month target price for Bank of China (Hong Kong) at HK$53.3 and reiterated a 'Buy' rating on the stock.

FAQ

What caused Bank of China Hong Kong stocks to hit a new high?

Bank of China (Hong Kong) (02388) shares reached a new high of HK$50.55 on the trading day, rising as much as 4.5% and breaking through the HK$50 level. As of 9:50 AM, the stock traded at HK$50.15, up 3.7%, with turnover exceeding HK$330 million.

What is Goldman Sachs' outlook on Bank of China Hong Kong stocks?

Goldman Sachs forecasts Bank of China (Hong Kong)'s second-quarter profit at HK$10.51 billion, up 2% year-on-year but down 16% quarter-on-quarter. The firm maintains a 12-month target price of HK$53.3 and reiterates a 'Buy' rating, citing normalized credit costs and non-interest income as factors for the sequential decline.

View Source

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.