China big bank shares jump after robust third-quarter earnings

China's major state-owned bank shares have surged following robust third-quarter earnings, with Industrial and Commercial Bank of China leading the gains. The lender reported a 10% increase in net profit, while Agricultural Bank of China saw a 10.8% profit growth and China Construction Bank rose by 9.8%. Bank of Communications and Bank of China also posted positive results, with profit increases of 10.1% and 6.4% respectively.

The positive earnings reflect easing pressure on net interest margins, lower deposit costs, and steady asset quality, supported by monetary support and mortgage interest subsidies. However, weak credit demand, a slowing economy, and risks in technology-sector lending remain challenges for the industry.

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