Agricultural Bank of China (601288:CNY3.51) hits four-month high on robust volume 03 July 2020

NEWS BITES - BRIC

Dateline: Friday July 03, 2020

Agricultural Bank of China Ltd. (SS:601288), Shanghai's 3rd largest Bank by market cap, traded at its 119-day high of CNY3.51. Agricultural Bank of China's stock price has increased 6.0 fen (1.7%) from its previous trading session to close at CNY3.51. Compared with the SSE Composite Index which rose 62.2 points (2%) in the day, the relative price change was -0.3%. Friday's price rise was propped up by robust volume of 1.9 times the average daily volume of 200.7 million shares. There were 373,980,000 shares worth CNY1.3 billion (US$185.9 million) traded today.

Bearish Turning Point

Relative Strength Index (RSI)

The Relative Strength Index (RSI) of 74.1 has penetrated the overbought line of 70, suggesting the price gain of 3.8% in the last 14 days is unusually high. The RSI was previously 60.9.

Stock Summary

Currency1 USD = 7.06 CNYSectorBank
Jul 03 closeCNY3.51Shares Outstanding349,983,030,000
Ave Daily Volume200,729,491 sharesMarket CapCNY1,228.4 billion [USD174 billion]
52-Week Range3.27 - 3.75

INDEX

SECTION 1 News In The Past Two Months

SECTION 2 Corporate Profile

SECTION 3 Today's Bullish Signals

SECTION 4 Ongoing Bullish Parameters

SECTION 5 Today's Bearish Signals

SECTION 6 Ongoing Bearish Parameters

Click here to view the following

SECTION 7 News Archives (Sep 2018 - Mar 2020)

Glossary

SECTION 1 News In The Past Two Months

1.1 Meetings

June 17: Agricultural Bank of China: Announcement on Postponement of Annual General Meeting of 2019

Due to meeting preparation, the Company's directorate decided to postpone the Annual General Meeting of 2019 to June 29, 2020.

The postponed time for on-the-spot meeting: 14:45 on June 29, 2020; The postponed time for online voting: from June 29, 2020 to June 29, 2020.

Source: Shanghai Stock Exchange

June 05: Agricultural Bank of China: Announcement on Resolutions of Directorate Meeting

The Company held the directorate meeting on May 29, 2020, which discussed and approved the proposal of nominating Zhang Xuguang as candidate for executive director.

Source: Shanghai Stock Exchange

May 18: Agricultural Bank of China: Notice of Convening Annual General Meeting of 2019

The Company's directorate decided to hold the Annual General Meeting of 2019 at 14:45 on June 22, 2020 to discuss issues including the scheme of final financial accounts in 2019, the scheme of profit distribution for 2019 and the engagement of accounting firm in 2020.

Voting way: by way of combination of on-the-spot and online voting;

Online voting system: the online voting system of the Shanghai Stock Exchange;

Time for trading system voting: 09:15 to 09:25, 09:30 to 11:30 and 13:00 to 15:00 on June 22, 2020;

Time for Internet voting platform: 09:15 to 15:00 on June 22, 2020.

Source: Shanghai Stock Exchange

May 18: Agricultural Bank of China announces AGM

Agricultural Bank of China has announced its Annual General Meeting will take place on Monday, June 22.

SECTION 2 Corporate Profile

2.1 Activities

Agricultural Bank of China Ltd is a commercial bank. The Bank operates its businesses primarily through corporate banking, including corporate deposit, corporate loan, note discount, small-sized corporate services, organization business, settlement and cash management, trade financing and international settlement, investment banking, capital custody and pension businesses; personal banking, including personal loan, personal deposit, bank card, agent distribution of fund, agent distribution of national debt and private banking businesses; capital business, including currency market business, portfolio investment management, agent capital trading, banking and precious metal businesses, as well as e-banking, including online banking, telephone banking, mobile financial business, self-service banking and e-commerce. The Bank operates its businesses in domestic and overseas markets. It operates branches and representatives in Sydney, New York, London and Singapore, among others

2.2 Contact Details

Websitehttp://www.abchina.com/en/
Physical AddressNo 69, Jianguomen Nei Avenue Dongcheng District Beijing, 100005 China
Phone+86-10-85109619
Fax+86-10-85108557

2.3 Industry & Sector

Classification LevelName of Sector
Industry GroupBanking Services
IndustryBanks
Economic SectorFinancials
Business SectorBanking & Investment Services

SECTION 3 Today's Bullish Signals

3.1 Momentum Up 2.4% Past Week

The price ranged between a low of 3.37 on Monday, Jun 29 and a high of 3.45 on Thursday, Jul 02.

DayAgricultural Bank of ChinaClose price [CNY]Price change %Relative change %Comment
ThursdayRises in 4 out of last 5 days; 5-day rise of 2.4%3.451.8-0.4Week-high of 3.45 Top Rise; VI*=1.6
WednesdayIncreases3.390.3-1.1Rises for a second consecutive day
TuesdayIncreases3.380.3-0.5Price rise on rising relative strength
MondayUnchanged3.3700.6Week-low of 3.37
WednesdayIncreases3.370.60.3Price/MAP50 above 1

[Volume Index (VI); 1 is average]

3.2 Uptrend

Today's Volatility:

Today its volatility (highest price minus lowest price/lowest price) of 1.7% was 1.1 times the average daily volatility of 1.6%, up from 0.9% on Wednesday. A rise in the price on high volatility is a bullish signal.

Positive MACD:

- The Moving Average Convergence Divergence (MACD) indicator of 12-day Exponential Moving Average (EMA) of 3.4 minus the 26-day EMA of 3.4 is positive, suggesting a bullish signal. Both the 12-day EMA as well as the 26-day EMA are rising, another bullish signal.

SECTION 4 Ongoing Bullish Parameters

4.1 Annualised Period-based Total Shareholder Returns [TSR %]: The Best Periods with TSR > 9.8%

TSR %3 yrs5 yrs
601288.SS10.19.9

4.2 Present Value of CNY1000 Invested in the Past [3 Mo, 3 Yrs]; The Best Periods with PVCNY1000 > 1,031

PVCNY1,0003 mo ago3 yrs ago
601288.SSCNY1,032CNY1,340
Bank sectorCNY1,052CNY1,371
SSE Composite IndexCNY1,153CNY987

4.3 Past 3 years: price rise of 15.4%

3-Year price change of 15.4% for Agricultural Bank of China outperformed the change of -1.2% in the SSE Composite index for a relative price change of 16.7%.

Price Change %3 Years
Agricultural Bank of China15.4
Bank sector36.8
SSE Composite index-1.2

4.4 MCap: 5-Year Increase of CNY49 billion [USD7 billion]

In the past 5 years Market Capitalization has increased by CNY49.4 billion (4%) from CNY1,179 billion to CNY1,228.4 billion. Based on a dynamic start date of 5 years ago, there have been declines in MCap in 2 out of 5 years.

PriceMCap (CNY B)MCap (US$ B)
LastCNY3.511,228.4174
1 Year agoCNY3.661,188.7172.6
2 Years agoCNY3.171,078.3162.5
3 Years agoCNY3.041,140168
4 Years agoCNY2.651,045.8157.3
5 Years agoCNY2.851,179190.1

4.5 Increased VWAP, up 25% in 5 years

In the past five years Volume Weighted Average Price (VWAP) has increased by 25.1% to CNY3.50. .

Past five years, 12 months ended Jul 03 (CNY)

YearHigh PriceVWAPLow Price
20203.753.53.27
20193.763.533.14
20184.383.63.03
20173.132.832.64
20163.422.82.23

SECTION 5 Today's Bearish Signals

5.1 Downtrend

Trailing Relative Strength (6 months) at 42 percentile:

- The stock has a 6-month relative strength of 42 in the Shanghai market of 1,607 stocks which means it has underperformed 58% of the market.

5.2 Overbought/Bearish/Resistance Signals:

- At CNY3.51 the price has risen above the upper Bollinger band resistance of CNY3.47, indicating a downside risk for it to fall back within the band.

- The Relative Strength Index (RSI) of 74.1 has penetrated the overbought line of 70, suggesting the price gain of 3.8% in the last 14 days is unusually high.

SECTION 6 Ongoing Bearish Parameters

6.1 Annualised Period-based Total Shareholder Returns [TSR %]: The Worst Period with TSR < -4%

TSR %1 yr
601288.SS-4.1

6.2 Present Value of CNY1000 Invested in the Past Year; The Worst Period with PVCNY1000 < 960

PVCNY1,0001 yr ago
601288.SSCNY959
Bank sectorCNY1,221
SSE Composite IndexCNY1,046

6.3 Past year: price fall of 4.1%

1-Year price change of -4.1% for Agricultural Bank of China underperformed the change of 3.6% in the SSE Composite index for a relative price change of -7.7%.

Price Change %Year
Agricultural Bank of China-4.1
Bank sector20.5
SSE Composite index3.6

6.4 Moving Annual Return of -4.1% in the past year:

Moving Annual Return was -4.1% in the past year. Based on a dynamic start date of 5 years ago, the real rate of return has averaged 10.6%

601288Close (CNY)Dividends (CNY)Capital Gain / (Loss) %% YieldAnnual Return %
Jul 033.51-(4.1)-(4.1)
1 Yr ago3.660.1715.55.521.0
2 Yrs ago3.170.354.211.515.7
3 Yrs ago3.040.1714.86.321.1
4 Yrs ago2.650.18(7.2)6.4(0.8)

Close 5 years ago CNY2.85

6.5 Declining Volume, down 43% in 5 years

In the past five years, Average Daily Volume of Trading (ADVT) has decreased 43.0% to 200.7 million shares.

Avg. Daily Volume Traded 12 months ended Jul 03, million shares

YearADVT
2020200.7
2019270.2
2018342.2
2017157.9
2016352.0

6.6 Declining share turnover, down 37% in 5 years

In the past five years, average daily share turnover has decreased 36.7% to CNY604.4 million (US$85.6 million). This suggests decreased liquidity.

Past five years, 12 months ended Jul 03 (CNY million)

YearAverage Daily Turnover
2020604.4
2019919.3
20181208.3
2017432.7
2016954.5

Glossary

ADVT: Average Daily Volume of shares Traded

Annual Return: Dividends Paid In a 12-Month Period/Price at the Beginning of the Period + Capital Gain or Loss over 1 Year/Price 1 Year Ago (%)

Moving Average Price (n periods): Sum of Prices for each Period/Number of Periods

PV1000: Present value of 1000 invested 1 year/'n' years ago

Price Close/Moving Avg Price: Latest Price/Moving Average Price

Relative Price Change [RPC]: Relative price change is price change of stock with respect to Benchmark Index

Relative Strength (6 Months): Price close today/Price close 6 months ago, then ranked by percentile within the entire market.

TSR: Total Shareholder Returns is expressed as an annualized rate of return for shareholders after allowing for capital appreciation and dividend

Volatility: Highest Price minus Lowest Price/Lowest Price (%)

Volume Weighted Average Price (VWAP): The Volume Weighted Average Price (VWAP) is the summation of turnover divided by total volume in the same period.

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