Standard Chartered: Upgraded China Construction Bank Hong Kong (02388.HK) target price to 39.4 Hong Kong dollars, mid-term performance exceeds expectations.

According to the Zhtng Cijng APP, DBS released a research report stating that the first half performance of Bank of China Hong Kong (02388.HK) exceeded expectations, with net profit increasing by 10.5% year-on-year to 22.15 billion yuan. In the context of HIBOR, the net interest margin in the second quarter fell by 2 basis points to 1.53% for the quarter. The non-performing loan ratio was 1.02%, a 3 basis point decrease from the second half of last year. DBS reiterated a "buy" rating for Bank of China Hong Kong, raising the target price from 36 Hong Kong dollars to 39.4 Hong Kong dollars.