Morning ... nice as it rained early in the morning.


ABC (Agricultural Bank Of China) : Dropped 30% from the peak.


BCC (Bank of Communications Co) : Dropped 38% from the peak.


BOC (BOC Hong Kong) : Dropped 26% ...


CCB (China Construction Bank) : Dropped 30% ...


CMB (China Merchants Bank Co) : Dropped 35% ...



HSBC : Dropped more than 40% ... strong downtrend.


ICBC : Dropped more than 30% ...

Many of these giant banks trading at single PER in HKSE ... and surged during the craziness in China last year. Since then ... we do not see recovery.

Insurance companies such as China-Life and Ping-An have dropped more than 50% and 40% respectively.

Dear bankers and accountants and those in markets ... I could not understand why all these traded at single digit PER and why there is selldown in most of banking stocks globally. Is this is early sign of cracks in banking-finance ... and we shall see more selldown in stock markets?

Only time will tell ...

TEH