CHINA Citic Bank

1023 [Dow Jones] CITIC Bank (0998.HK [News / Quote]) +1.9% at HK$5.90, earlier touching HK$5.99, may stay below psychological HK$6 in short term, with 82% on-year jump in 1H net profit to CNY3.22 billion flagged. Still Daiwa keeps on Outperform call, target price of HK$7.33; says CITIC Bank fast-growing medium-sized bank in China, 'well positioned to attain critical mass and enjoy greater economies of scale.' Personal-banking potential has not yet been developed, tips significant re-rating potential 'if it can execute its personal-banking expansion strategy successfully.' Volume unexciting at HK$126.7 million.(RLI) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com



(Delayed by 1 hour)

(End)......Aug 23, 2007 10:42 - e-20070822dn016744cos

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