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HANG SENG BANK To Go Ex-Dividend On August 15th, 2024 With 0.15354 USD Dividend Per Share
Hang Seng Bank (HSNGF) Was Downgraded to a Sell Rating at Jefferies
Hang Seng Bank (00011.HK) repurchased 0.2 million shares on August 2 with a total cost of HKD 18.107 million.
On August 2nd, Hang Seng Bank (00011.HK) announced that it repurchased 0.2 million shares for HKD 18.107 million.
Citigroup: Cut target price of Hang Seng Bank to HKD 94, maintain neutral rating.
Citigroup's report stated that it lowered Hang Seng Bank's (00011) earnings per share forecast for the fiscal years 2024 to 2026 by 5% to 6%, with an assumption of stock cost rising from 9.8% to 10.1%, resulting in a target price adjustment from HK$106 to HK$94 and maintaining a "neutral" rating. Citigroup stated that Hang Seng Bank's net interest margin was lower than expected in the first half of the year, and therefore lowered its net interest margin forecast for the fiscal years 2024 to 2026 by 3% to 4%. Due to continuous uncertainty in the quality of Hang Seng assets, it decided to increase its provision expense forecast for fiscal year 2025 by 10%.
HK based banks collectively fell, with stanchart (02888) dropping more than 4%. The market is worried about the interest rate cut which will narrow net interest income.
hk based banks collectively fell. As of press time, stanchart (02888) fell by 4.14%, closing at HKD 72.9; hsbc holdings (00005) fell by 3.44%, closing at HKD 65.9; hang seng bank (00011) fell by 2%, closing at HKD 90.5.
[Featured Big V] Deng Shengxing: Hong Kong stocks continue to be weak, the 17,000 point level is likely to be lost.
Kinwes finance news | The Hang Seng Index closed at 17304 on Thursday (1st), down 39 points or 0.23%. The turnover of the whole market was HKD 94 billion. The national index fell 0.34%, to 6086; the science and technology index fell 1.1%, to 3476. In terms of blue chips, concerns about the United States' interest rate cuts shrinking bank stock yields have caused HSBC (00005) to fall 2.4%; Hang Seng Bank (00011) fell 3.7%; China Shenhua Energy (00881) rose 6.9%, leading the way for blue chips to close; interest rate futures indicate that the Federal Reserve has three opportunities to cut interest rates this year, leading to inflows of funds into high-yield stocks. Power Assets (00006) rose 5% and performed the best among blue chips; Yangtze River
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