Share price performance (%)

1wk: 1.76

3mths:22.82

1mth:5.08

1yr:28.73

The rating on Citic International Financial Holdings (CIFH) has been downgraded from 'outperform' on unsustainable earnings momentum from an associate firm. Analyst Dominic Chan cut his earnings forecasts for CIFH by 12 per cent for this year due to a lack of income from Citic Capital Active Partner Funds. Mr Chan said in a report that CIFH looked fairly valued and suggested investors switch to other more purely domestic banks.

CLSA

HOLD SMIC

Closing price: $1.60

Target price: $2.03

Share price performance (%)

1wk: 4.19

3mths:32.37

1mth:10.86

1yr:N/A

Goldman Sachs has initiated Semiconductor Manufacturing International Corp coverage with an 'in-line' rating, saying it would continue to outgrow its peers in the medium term but potential overcapacity next year might cap potential upside for the shares. Analyst Donald Lu said in a report that venture capital investors still owned 37 per cent of SMIC and expected these investors would sell for a 30 per cent internal rate of return at $2.03.

Goldman Sachs

SELL Bank of East Asia

Closing price: $22.45

Target price: $19

Share price performance (%)

1wk: 0.44

3mths:11

1mth:3.67

1yr:39.49

The rating on BEA has been downgraded from 'buy' and earnings forecasts cut by 8 per cent for this year and 13 per cent for next to reflect prospects of a lower margin between prime rate and Hibor and slower growth in China business. Analyst Sally Ng said in a report that the bank's China exposure was threatened by mainland moves to cap foreign banks' onshore US dollar lending.

UBS