Agricultural Bank Claims Top Spot in A-Share Market Value for Two Days, Stock Price Reaches New High!
In the top 20 of the overall market value, there are a total of 7 bank stocks.
According to the statistics, as of August 7th, Agricultural Bank (601288.SH) A-share market value reached 21.1 billion yuan, surpassing Industrial and Commercial Bank of China for the first time.
On August 4th, Agricultural Bank announced that it had completed the issuance of non-capital debt securities (TLAC) on the interbank market, with an actual issuance amount of 50 billion yuan. Since the beginning of the year, the bank has issued TLAC bonds worth 80 billion yuan.
On August 6th, Agricultural Bank's stock price rose 1.22% to a new high of 6.62 yuan per share, with its market value reaching 21.1 billion yuan for the first time.
As of August 7th, Agricultural Bank's stock price continued to rise, closing at 6.71 yuan per share, up 1.36%, and its market value reached 21.4 billion yuan, surpassing Industrial and Commercial Bank of China for the second time.
In terms of market capitalization, Agricultural Bank has surpassed Industrial and Commercial Bank of China and become the leader in the A-share market.
However, if we look at the combined market value of A+H shares, Agricultural Bank is still behind Industrial and Commercial Bank of China, with a difference of 440 billion yuan.
As of August 7th, Agricultural Bank's stock price has risen by over 150% in the past two years, far exceeding other state-owned banks.
According to statistics, Agricultural Bank's revenue growth rate was 0.4% year-on-year in the first quarter of this year, and its net profit growth rate was 2.2% year-on-year.
Among the top 20 companies by market capitalization, there are 7 banks, including Agricultural Bank, Industrial and Commercial Bank of China, China Construction Bank, Bank of Communications, Postal Savings Bank of China, and Bank of Transportation.
In terms of the proportion of outstanding shares, Agricultural Bank's outstanding shares account for over 100%, while Industrial and Commercial Bank of China's outstanding shares account for around 96%.
Since the beginning of this year, the A-share banking sector has continued to rise strongly, with all 42 listed banks experiencing positive returns. Among them, Pudong Development Bank has risen by over 40%, Agricultural Bank and Qingdao Bank have risen by over 30%, and 11 banks have risen by between 20% and 30%. On August 7th, there were 26 bank stocks that rose.
According to Yang Delong, chief economist at Haiqian Fund, the strong performance of banking stocks is due to several factors. Firstly, economic recovery expectations have strengthened, and the characteristics of high dividend yields in low-interest-rate environments are highly attractive. Secondly, institutional funds, including insurance funds, long-term funds, and other capital inflows have continuously driven up bank stock prices.