Big banks in Asia look set to jump “” and these stocks may leap the most
- Date: 25-Mar-2021
- Source: CNBC
- Sector:Financial Services
- Country:Middle East
Big banks in Asia look set to jump “” and these stocks may leap the most
A pedestrian looks at an electronic quotation board showing numbers of the Nikkei 225 index in Tokyo on September 11, 2020.
Big banks in Asia are poised for a comeback as the global economy recovers.
Share prices of some major banks have soared “” some by more than 30% this year, and estimates from data analytics firm Refinitiv show further upside.
Banks are among the so-called cyclical stocks that rise and fall as the economy rises or falls. They dropped out of favor over the past year as Covid-19 hit global growth, and as falling interest rates squeezed their margins.
Here are the major Asian banking stocks “” those with a market capitalization of above $10 billion “” that have the most room to run, according to Refinitiv.