The banking sector bucked the intraday trend and strengthened. China CITIC Bank rose more than 2% to a record high. The total market value of A+H shares reached 450 billion yuan, while the Bank of Chongqing and Agricultural Commercial Bank, Bank of Xiamen, Bank of Suzhou, and Bank of Shanghai had advanced gains. According to the news, the latest data from the General Financial Supervisory Authority shows that at the end of the second quarter of this year, commercial banks' net interest spreads were 1.41%; up 1 basis point from the low level at the end of the first quarter. Looking at the long-term cycle, this is also the first time since the first quarter of 2022 that after a lapse of more than 4 years, commercial bank net interest spreads have increased positively month-on-quarter.

The banking sector bucked the intraday trend and strengthened. China CITIC Bank rose more than 2% to a record high. The total market value of A+H shares reached 450 billion yuan, while the Bank of Chongqing and Agricultural Commercial Bank, Bank of Xiamen, Bank of Suzhou, and Bank of Shanghai had advanced gains. According to the news, the latest data from the General Financial Supervisory Authority shows that at the end of the second quarter of this year, commercial banks' net interest spreads were 1.41%; up 1 basis point from the low level at the end of the first quarter. Looking at the long-term cycle, this is also the first time since the first quarter of 2022 that after a lapse of more than 4 years, commercial bank net interest spreads have increased positively month-on-quarter.