Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Shanghai Stock Exchange  >  China Construction Bank Corporation    601939   CNE100000742

CHINA CONSTRUCTION BANK CORPORATION

(601939)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Chinese state banks to suspend new precious metal account openings

11/27/2020 | 04:10am EST

SHANGHAI/BEIJING, Nov 27 (Reuters) - Three of China's major state-owned banks announced on Friday they will suspend the opening of new accounts for their precious metal investment products from Saturday amid increased volatility in global and domestic precious metal prices.

Industrial and Commercial Bank of China (ICBC) said in a notice on its website it would suspend the opening of new individual gold, silver and other precious metal investment trading accounts from Saturday via all channels, including over-the-counter and online or mobile banking.

"Affected by the global epidemic situation and the international political and economic situation, international and domestic precious metals price continued to show volatility, market risks and uncertainties increased," ICBC said.

Bank of Communications and China Construction Bank also suspended new account openings for their precious metal trading and investment products from noon on Saturday and from Monday, respectively.

The banks warned investors to pay attention to market and volatility risks and to manage trading and conduct investment transactions prudently and rationally, according to statements released on Friday.

Spot gold prices began sliding after Nov. 9 as news of the first successful, late-stage novel coronavirus vaccine trial prompted investors to dump safe-haven bullion and flock to riskier assets. They are down nearly 4% this month.

Bank of China and Bank of Communications in early November had already warned investors they could restrict trading of their precious metal and foreign exchange products if the U.S. presidential election on Nov. 3 fueled market volatility. (Reporting by Emily Chow and Zoey Zhang Editing by Robert Birsel)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
BANK OF CHINA LIMITED -2.52% 2.71 End-of-day quote.2.26%
BANK OF COMMUNICATIONS CO., LTD. -0.88% 4.5 End-of-day quote.0.45%
CHINA CONSTRUCTION BANK CORPORATION -2.37% 6.58 End-of-day quote.4.78%
GOLD 0.42% 1864.749 Delayed Quote.-2.27%
INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED -1.75% 5.04 End-of-day quote.1.00%
All news about CHINA CONSTRUCTION BANK CORPORATION
01/20SJM Unit Raises $1 Billion from Two-Tranche Bond Deal for Debt Payments
MT
01/19MARKET CHATTER : Bank of China President to Join China Construction Bank
MT
01/19Shanghai Pudong Sells $300 Million of 1% Bonds Due 2024; Files for Singapore ..
MT
01/17SJM Holdings Subsidiary Plans to Offer US Dollar Bonds for Debt Payment
MT
01/12Alibaba-backed XPeng Secures $2 Billion in Bank Loans
MT
01/11Chinese EV Maker XPeng Secures $1.98 Billion Credit Line
DJ
01/11CHINA CONSTRUCTION BANK : 11 Jan 2021Announcement on the Appointment of Ms. Shao..
PU
01/11CHINA CONSTRUCTION BANK : 11 Jan 2021Announcement on the Appointment of Ms. Liu ..
PU
01/08CHINA CONSTRUCTION BANK : 08 Jan 2021List of Directors and Their Roles and Funct..
PU
01/08CHINA CONSTRUCTION BANK : 08 Jan 2021Announcement on the Resignation of Ms. Feng..
PU
More news
Financials
Sales 2020 724 B 112 B 112 B
Net income 2020 247 B 38 225 M 38 225 M
Net Debt 2020 - - -
P/E ratio 2020 5,15x
Yield 2020 5,87%
Capitalization 1 281 B 198 B 198 B
Capi. / Sales 2020 1,77x
Capi. / Sales 2021 1,66x
Nbr of Employees 347 156
Free-Float 98,3%
Chart CHINA CONSTRUCTION BANK CORPORATION
Duration : Period :
China Construction Bank Corporation Technical Analysis Chart | 601939 | CNE100000742 | MarketScreener
Technical analysis trends CHINA CONSTRUCTION BANK CORPORATION
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 24
Average target price 6,58 CNY
Last Close Price 5,07 CNY
Spread / Highest target 67,4%
Spread / Average Target 29,8%
Spread / Lowest Target 5,52%
EPS Revisions
Managers and Directors
NameTitle
Guo Li Tian Chairman & President
Yong Qing Wang Chairman-Supervisory Board
Carl Walter Independent Non-Executive Director
Yuen Mei Fung Independent Non-Executive Director
Qi Zhang Non-Executive Director