WSJ金融服务Market Talk汇总多条券商观点，未形成单一可执行强催化

The latest Market Talks covering Financial Services. Exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.

0801 GMT – The Bank of Korea could stand pat at its next rate-setting meeting in October after a second straight rate hike, analysts say. The probability of another hike at the Oct. 22 meeting “is not particularly high” as the BOK may now prefer a more gradual pace of tightening, JPMorgan’s Seok Gil Park writes in a note. Park says the BOK could deliver additional hikes in November, February and May. Goldman Sachs’ Goohoon Kwon and Irene Choi say the BOK could tighten policy at a much slower pace, with the next hike likely not coming until 1Q 2027. They note that BOK Gov. Shin views the latest hike as preemptive and expects the board to take time to assess the impact of recent hikes. (kwanwoo.jun@wsj.com)

0723 GMT – Bitcoin rises, staying close to multimonth highs, but remains below the $80,000 key level. The rise is driven by investors seeking alternative investments away from the U.S. dollar, also referred to as the dollar debasement trade, IG analysts say in a note. This trade is prompted by concerns about high levels of U.S. debt and the potential for prolonged inflation. Crypto currencies have also gained since the U.S. Treasury announced it will double its purchases of longer-term securities last week. Bitcoin climbs 0.5% to $78,811, although it remains well below Tuesday’s three-month peak of $81,237, according to LSEG data.(miriam.mukuru@wsj.com)

0706 GMT – Krungthai Card may benefit from its acquisition of Win Performance, a debt collection company, CGS International’s Weerapat Wonk-Urai says in a research report. Krungthai Card has said that the acquisition is aimed at supporting its strategic plan to improve operating cost management and create new revenue opportunities, the analyst notes. Win Performance’s contribution to Krungthai Card’s earnings could increase materially in 2027-2028 if Win Performance can expand its customer base to include other financial institutions, such as digital lenders or virtual banks. The brokerage raises the stock’s target price to 30.00 baht from 26.00 baht with an unchanged reduce rating. Shares are 0.7% lower at 37.75 baht. (ronnie.harui@wsj.com)

0659 GMT – Admiral Group is at a fair market price after its recent ascent so the near-term risk profile is now more balanced, Berenberg’s Carl Lofthagen says. The U.K. insurer’s share performance—after trading at decade-low valuations—means the current valuation looks full, the analyst says. However, the earnings outlook for the company has improved, helped by a better pricing outlook. This is captured by consensus estimates, Berenberg notes. “While relative to the broader European sector, the shares trade at a 25% premium, we think this premium is fair,” Lofthagen adds. Berenberg lowers its recommendation on the stock to hold from buy, but keeps the price target of 42 pounds. Admiral shares closed down 0.5% at 41.09 pounds on Wednesday, but the stock is up 31% year to date. (michael.hennessey@wsj.com)

0621 GMT – Prudential PLC’s results will be received with relief from investors after the insurance and investment company backed its 2027 targets, J.P. Morgan analysts say. First-half new business profit was in line with consensus expectations, boosted by a higher-than-expected new business margin. This is consistent with Prudential’s strategy of selling policies with higher margins, JPM says. The company raised its 2026 buyback program and JPM sees potential for further upside in buybacks as Prudential sells further tranches of its joint venture with Icici Bank. The analysts don’t expect meaningful consensus underling earnings upgrades, though earnings per share forecasts are likely to benefit from the higher 2026 buyback. Shares in London closed at 10.39 pounds Wednesday and are down 9.2% over the year to date. (michael.hennessey@wsj.com)

0455 GMT – Centuria Capital’s bull at Jefferies is very disappointed by the Australian property investor’s 2H result and outlook. That feeling is reflected across the equity market, with Centuria Capital’s share price dropping more than 14% to A$1.14, testing a near-decade low. Centuria Capital signaled FY 2027 operating EPS of 13.0 Australian cents. Analyst Andrew Dodds says this implies a 4.4% decline on FY 2026. It is also 13% below his forecast ahead of today’s annual result. “FY27 Ebit/net profit growth of 20%/14% expected to be offset by higher interest and tax,” Jefferies says. “Expect material consensus downgrades.” (david.winning@wsj.com; @dwinningWSJ)

0300 GMT – Technical overhangs could temper Public Bank’s share-price gains, with the Teh family estate—linked to the bank’s late founder Teh Hong Piow—continuing to sell down its stake toward the 10% regulatory threshold, Hong Leong IB analyst Raymond Ng says in a note. About 1.3% has been distributed so far, with further tranches subject to the trustees’ discretion, he notes. Potential passive selling from Public Bank’s diluted index weight following the recently announced KLCI constituent expansion could also check its near-term share-price performance, he adds. Ng cuts Public Bank’s 2026-2028 earnings estimates by 0.2%-6%, after 2Q earnings came below expectations. Hong Leong maintains a hold rating on Public Bank and keeps its target price at 4.90 ringgit. Shares are 0.8% lower at 5.11 ringgit.(yingxian.wong@wsj.com)

0213 GMT – The Bank of Thailand is likely to hike its policy rate by 25 bps each in 4Q 2026 and 1Q 2027, ANZ Research’s Kausani Basak and Sanjay Mathur says in a report. The BOT has room to maintain its accommodative stance, as headline inflation has continued to moderate in recent months. However, ANZ says that it will continue monitoring underlying price pressures closely, as producer price inflation remains high and could start spilling over to core inflation in the coming months. ANZ will review its view on BOT’s rate path, if inflation pressures turn out to be benign. (amanda.lee@wsj.com)

0103 GMT – Public Bank’s net interest margin is expected to persist over the next one to two quarters, with a further 1-2 bps of compression likely, primarily due to intense competition for wholesale deposits, CIMB Securities analyst Ei Leen Tan says in a note. Public Bank is reducing its reliance on wholesale deposits and increasing the use of lower-cost funding sources such as commercial papers and repurchase agreements, she says. Public bank’s established business, driven by superior asset quality, prudent provisioning and consistent execution, should continue to support its premium valuation, she adds. Tan thinks the lender’s 3.5 billion ringgit capital return plan could also support investor interest. CIMB maintains a buy rating on Public Bank and keeps its target price at 5.50 ringgit. Shares are 0.2% higher at 5.16 ringgit. (yingxian.wong@wsj.com)

1446 GMT – More than two-thirds—67.2%—of views to new-construction listings in 2Q came from shoppers located in a different metro area than the home for sale, according to Realtor.com. That share exceeds the 65.4% of views to existing-home listings coming from outside the listing metro, underscoring the outsized role of long-distance shoppers in new-home demand. The strongest cross-metro interest is concentrated in Southern markets where new construction is often priced at or below the national median. Lakeland-Winter Haven, Florida led the country, with 83.1% of views to new-construction listings originating outside the metro area. (chris.wack@wsj.com)

1347 GMT – Abu Dhabi Islamic Bank remains one of the strongest growth stories among U.A.E. lenders, Bank of America says. It reiterates a buy rating on the stock and raises its price objective to AED27.20 from AED26. BofA expects about 11% annual EPS growth over the next three years and average return on equity of around 25%, supported by financing growth, fee income and cost efficiency. The bank’s AED1.75 billion rights issue announced Tuesday should provide additional funding for growth, while financing is forecast to expand about 20% this year before remaining in double digits through 2028. (farhan.rafid@wsj.com)