HSBC: Maintains "buy" rating for China Construction Bank (00939.HK) with a target price of HK$9.8.

According to the Zhutong Finance APP, J.P. Morgan released a research report stating that in the first quarter of 2026, China Construction Bank (00939.HK) saw a year-on-year increase in revenue of 11% and a year-on-year increase in profit of 4%, which exceeded the bank's expectations by 9% and 2% respectively. This was mainly due to a quarterly increase of 8 basis points in net interest margin, which was the highest among state-owned banks and a pleasant surprise. Additionally, various revenue items showed strong performance, with net interest income, fee income, and non-fee income all surpassing expectations. The bank believes that this performance is positive and expects the stock price to react positively. They maintain a "hold" rating on China Construction Bank with a target price of 9.8 Hong Kong dollars.