On October 2, ICBC fell 3.05% in regular trading, trading at HKD 7.475/share, with turnover of HKD 932 million. The decline came amid broad-based selling pressure across the diversified banking sector.

On the news front, ICBC and several major state-owned banks, including CCB, Bank of China, and others, had just reached all-time highs in their A-share prices at the end of September, capping a strong month for the sector. The subsequent session saw a notable reversal, with the entire banking sector under significant pressure. HSBC Holdings fell 5.51%, BOC Hong Kong dropped 3.16%, CCB declined 2.90%, Bank of China lost 2.88%, and China Merchants Bank slid 1.84%.

Fundamentally, ICBC reported strong first-half results with revenue of RMB 446.16 billion, up 9.1% year-over-year, and adjusted net profit of RMB 176.48 billion, up 4.5%. BlackRock recently raised its H-share long position to 5.13%, and the bank confirmed a mid-year dividend of RMB 1.511 per 10 shares. Daiwa initiated coverage with a Hold rating and a target price of HKD 7.80.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)