China Shares End Up; Banks Lead On Rises In Their HK Shrs-2-
--Banks led a rebound in China's stock market Tuesday, propelled by gains in mainland banks' Hong Kong shares. But analysts said they remain cautious in the near term because upside momentum is still weak after Monday's drop. They put short-term resistance for the key Shanghai Composite at the psychologically important 1900 level. The benchmark Shanghai Composite Index, which tracks both A and B shares, ended up 1.3% at 1888.24 after dropping 1.0% Monday to 1863.77. The Shenzhen Composite Index rose 1.0% to 437.03. 'It's a technical rebound...I expect the market to continue consolidating the rest of the week,' said Hao Guomei, an analyst at Huatai Securities. Liu Yisong, an analyst at Galaxy Securities, said: 'I think mainland-listed banks with dual listings have been overvalued, though they are trading at a discount to their Hong Kong shares.' ICBC, the largest company on mainland bourses by capitalization, gained 2.3% to CNY3.60. Its H shares in Hong Kong were up 1.1% at HK$3.81 late afternoon. Bank of China rose 1.2% to CNY3.42, while its H shares had gained 0.6% to HK$3.53. Though China Merchants Bank's H shares were down 2.1% at HK$14.34, the bank's A shares rose 0.5% to CNY12.32 because they are still trading at a discount to their Hong Kong counterparts. Shanghai Pudong Development Bank rose 4.0% to CNY14.99 after saying it would raise as much as CNY6 billion from selling up to 700 million additional A shares to boost its capital base. Su Xiaobo, a banking analyst at Central China Securities, said he expects Pudong Development Bank's capital adequacy ratio to rise to 9.22%-10.39% after the share sale, from 8.01% at the end of September.
中国股市收盘走高，银行类股领涨，受其港股价格上涨推动 -2-
但分析师表示，他们对股市短期走势保持谨慎，原因是市场在经过周一的下跌后，上涨动力仍然很弱。他们认为上证综合指数短线阻力为重要心理位1900点。 华泰证券(Huatai Securities)分析师郝国梅表示，周二上涨属于技术性反弹，预计本周剩余时间市场将继续调整。 银河证券(Galaxy Securities)分析师刘奕松表示，他认为，在香港和内地同时上市的银行股的A股价格尽管低于H股价格，但A股已经被高估。 工商银行(ICBC)涨2.3%，至人民币3.60元，其H股尾盘涨1.1%，至3.81港元。 中国银行(Bank of China)涨1.2%，至人民币3.42元；其H股涨0.6%，至3.53港元。 招商银行(China Merchants Bank) H股下跌2.1%，至14.34港元，A股上涨0.5%，至人民币12.32元。 浦发银行(Shanghai Pudong Development Bank)涨4.0%，至人民币14.99元。该公司此前表示，将增发至多7亿股A股，最高筹集人民币60亿元，以充实资本金。 中原证券(Central China Securities)的银行业分析师 苏小波预计，在增发A股之后，浦发银行的资本充足率将从9月底的8.01%升至9.22%-10.39%。
