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The market is concerned about the situation of the US Federal Reserve's interest rate cuts. Hong Kong-based banks are generally doing well. Hang Seng Bank (00011) rose 2.66%.
The market is focused on the Fed's interest rate cut, and HK based banks are generally performing well. Hang Seng Bank (00011) rose by 2.66%, BOC Hong Kong (02388) rose by 2.35%, Dahsing Banking (02356) rose by 2.29%, HSBC Holdings (00005) rose by 1.12%, Bank of E Asia (00023) and Stanchart (02888) followed the upward trend. In terms of news, according to the "Fed Watch" tool from the Chicago Mercantile Exchange, the futures market has priced in a high probability of a significant 50 basis point rate cut by the Fed on Wednesday, reaching 63%, far exceeding the 30% from a week ago.
Standard Chartered Completes Share Buy-Back
Standard Chartered Warns Against a 50-basis Point FOMC Rate Cut
Express News | Standard Chartered Bought Back Total 1.2 Mln Shares on Other Stock Exchanges for GBP9.4 Mln on Sept 13- HKEX Filing
Goldman Sachs: Lowering target price for Hong Kong local bank stocks, maintaining a 'sell' rating for Hang Seng Bank (00011).
After incorporating the expected losses of Hang Seng Bank, the average earnings per share forecast for local bank stocks for the fiscal years 2024 to 2025 decreased by 5%-8%, while the earnings per share for the fiscal year 2026 remained relatively unchanged.
Are Investors Undervaluing Standard Chartered (SCBFF) Right Now?
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