|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||2.0300 - 2.0300|
|52 Week Range||1.8500 - 3.3100|
|Beta (5Y Monthly)||0.69|
|PE Ratio (TTM)||6.90|
|Forward Dividend & Yield||0.09 (4.43%)|
|Ex-Dividend Date||Mar 05, 2020|
|1y Target Est||2.05|
Hong Kong's banks face at least two quarters of worsening asset quality and slowing loan growth as the coronavirus outbreak hits trade and consumer banking, analysts and bankers said. Lenders in the Asian financial hub, including HSBC and Standard Chartered, are seeing a drop in demand for mortgages, credit card usage and corporate loans, bankers with knowledge of the matter said. Hong Kong banks have Asia's largest exposure to China, which accounted for 29.4% of banking system assets in the first half of last year, credit ratings agency Fitch says.
China will remove business restrictions on foreign banks, brokerages and fund management firms, a cabinet meeting chaired by Premier Li Keqiang said on Wednesday, state television reported. China has stepped up efforts to open its financial sector amid a festering trade war with the United States, with increased access to its financial sector among a host of demands from Washington.
Moody's Investors Service has assigned a Ba2(hyb) foreign currency rating to Bank of East Asia, Limited's proposed USD-denominated, undated, non-cumulative and subordinated Additional Tier 1 (AT1) capital securities. The undated AT1 capital securities will be drawn down from the bank's existing USD6 billion Medium Term Note (MTN) programme. The terms and conditions of the capital securities incorporate Basel III-compliant non-viability language in accordance with Hong Kong capital rules, and will qualify as regulatory AT1 capital.
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Bank of East Asia, Limited and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
Tens of thousands of demonstrators in Hong Kong surrounded the city's legislature on Wednesday, forcing it to postpone a second round of debate on an extradition bill that would allow people to be sent to mainland China for trial. The protesters, most of them young people dressed in black, erected barricades as they prepared to hunker down for an extended occupation of the area, in scenes reminiscent of pro-democracy "Occupy" protests that rocked the city in 2014.