PRE-MARKET CHINESE STOCKS NEWS: Chinese big bank earnings results and official PMIs eyed
Agricultural Bank of China (1288 HK) - Co. FY (CNY) net 269.8bln (exp. 272.0bln), NII 572.1bln. (Newswires)
Bank of China (3988 HK) - Co. FY (CNY) net 231.9bln (exp. 236.0bln), NII 502.3bln. (Newswires)
Bank of China (Hong Kong) (2388 HK) - Co. FY (HKD) net 32.8bln (exp. 33.5bln), NII 55.2bln. (Newswires)
China CITIC Financial Asset Management (2799 HK) - Co. FY (CNY) attributable net 11.1bln (prev. 9.6bln Y/Y), rev. 80.5bln. (Newswires)
China Communications Construction (1800 HK) - Co. FY (CNY) net 15.0bln (exp. 22.2bln), rev. 726.6bln (exp. 777.1bln). (Newswires)
China Eastern Airlines (670 HK) - Co. FY (CNY) net loss 1.66bln (prev. loss 4.23bln Y/Y), rev. 139.9bln. (Newswires)
China Everbright Bank (6818 HK) - Co. FY (CNY) net 38.8bln (exp. 41.1bln), NII fell 4.7% Y/Y to 92.1bln. (Newswires)
China National Building Material (3323 HK) - Co. FY (CNY) net loss 3.75bln (prev. loss 4.00bln to 2.30bln prelim), rev. 177.9bln (exp. 176.9bln). (Newswires)
COSCO Shipping Development (2866 HK) - Co. FY (CNY) net 1.61bln (exp. 1.80bln), rev. 25.2bln (exp. 22.1bln). (Newswires)
Innovent Biologics (1801 HK) - Co. FY (HKD) net loss 2.9bln (prev. loss 1.8bln Y/Y), rev. fell 0.4% Y/Y to 1.36bln. (Newswires)
Metallurgical Corporation of China (1618 HK) - Co. FY (CNY) net 1.32bln, rev. 455.4bln (exp. 528bln). (Newswires)
Powerlong Real Estate (1238 HK) - Co. FY (CNY) attributable net loss 3.7bln, rev. 22.6bln (prev. 25.8bln Y/Y). (Newswires)
Sunny Optical Technology (2382 HK) - Co. FY (CNY) net 4.64bln, rev. 43.2bln (exp. 42.7bln). (Newswires)
The earnings results from several major Chinese banks are coming in below expectations, particularly for Agricultural Bank of China and Bank of China, which may signal softness in the sector. This underperformance could weigh on investor sentiment in the Asian markets and potentially affect the broader economic outlook, particularly if it reflects underlying weakness in credit demand or asset quality.