Bank stocks will deliver a strong performance again this year, partly because sector-wide bank earnings growth is expected to accelerate from 14 per cent in 2024 to 17 per cent in 2025 driven by a shift in GDP growth drivers...
The recent declines of the securities market have moved bank stocks to an ''attractive zone''. Banks were trading at a P/E multiple of 7.1 and P/B of 1.3 in late November, equivalent to the lows in March 2020.
Shares finished higher on Wednesday thanks to the rise of large-cap in the banking and mining groups, bolstered by increased buying demand at the end of the trading session.
Shares ended higher on Wednesday thanks to the growth of the banking stock group but liquidity remained at a low level as investors held back from making further purchases ahead of the Tet holiday.