Home Business Major bank stocks in Asia gain as investors bet on recovery

Major bank stocks in Asia gain as investors bet on recovery

by Sakuragun Chan

A pedestrian looks at an electronic quotation board showing numbers of the Nikkei 225 index in Tokyo on September 11, 2020.

Kazuhiro Nogi | AFP | Getty Images

Big banks in Asia are poised for a comeback as the global economy recovers.

Share prices of some major banks have soared — some by more than 30% this year, and estimates from data analytics firm Refinitiv show further upside.

Banks are among the so-called cyclical stocks that rise and fall as the economy rises or falls. They dropped out of favor over the past year as Covid-19 hit global growth, and as falling interest rates squeezed their margins.

Here are the major Asian banking stocks — those with a market capitalization of above $10 billion — that have the most room to run, according to Refinitiv.

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