Rumours Lift Bank And Apple Supply-Chain Stocks

Rumours that mainland banks delivered solid first-half results and benefited from improved deposit-loan spreads, along with a longer 40-year term for mainland mortgages, were said to have supported the sector, according to ETNet. Bank of China (03988) closed at HK$5.90 on Tuesday, up 5.7%. Market talk also said Apple and Huawei are set to launch new smartphones, which could lift production orders and shipments. BYD Electronic (00285) jumped 9% to HK$27.00, with turnover of HK$1.6 billion.