Chinese Bank Stocks Extend Rally; ICBC, CCB, Bank of China Hit New Highs

The rally broadening from the largest state lenders to regional players like Chongqing Rural Commercial Bank and Bank of Chengdu suggests the bid is not confined to a defensive, dividend-driven trade in the mega-caps. That distinction matters because regional banks carry different credit exposure to local government financing and property, so their participation implies a wider re-rating of the sector rather than a narrow flight to size. Whether the move holds once the largest names stop setting records is the open question.