Chinese official media issued a document on Friday (July 7), saying that the investment bank Goldman Sachs is based on pessimistic assumptions and is not desirable to see the fundamentals of the Bank of China.
According to Reuters, Goldman Sachs has lowered the rating of Agricultural Bank of China from "neutral" to "selling" in the report on Wednesday (5th).Decreasted from "buy" to "sell".
After the report was released, the stock price of Agricultural Bank of China and ICBC in Hong Kong fell sharply.After opening the market on Friday, the stock price of the Agricultural Bank of China fell more than 2%as of 3 pm, and the ICBC slipped about 1.6%.
The Securities Times hosted by the People's Daily in charge of the People's Daily, in an article on Friday, refers to Goldman SachEssence
Securities Times believes that "based on pessimistic assumptions, the fundamentals of my country's banks are not desirable, and there are large extent misunderstandings." It is said that banks in China have actively overwhelmed real estate risk exposure.
