Big banks in Asia are poised for a comeback as the global economy recovers.
Share prices of some major banks have soared — some by more than 30% this year, and estimates from data analytics firm Refinitiv show further upside.
Banks are among the so-called cyclical stocks that rise and fall as the economy rises or falls. They dropped out of favor over the past year as Covid-19 hit global growth, and as falling interest rates squeezed their margins.
Here are the major Asian banking stocks — those with a market capitalization of above $10 billion — that have the most room to run, according to Refinitiv.