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China's banking index rose more than 1%, hitting a fresh high. Qingdao Bank jumped over 7%; Chengdu Bank and Qilu Bank gained more than 4%. The four largest state-owned banks all advanced; Industrial and Commercial Bank of China rose over 2% to a rec

2026-10-29

China's banking index rose more than 1%, hitting a fresh high. Qingdao Bank jumped over 7%; Chengdu Bank and Qilu Bank gained more than 4%. The four largest state-owned banks all advanced; Industrial and Commercial Bank of China rose over 2% to a record market cap. Combined market value of ICBC, China Construction Bank, Agricultural Bank of China and Bank of China exceeded 10 tln yuan intraday, a record. Individual market caps: ICBC >3.12 tln yuan, CCB >3.13 tln yuan, ABC >2.6 tln yuan, BOC >2.3 tln yuan.

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Federal Reserve Chairman Warsh: The economy is performing strongly and is heading in the right direction.

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