[Brokerage Focus] Morgan Stanley: Strong wealth business supports the net asset return of Banks in Hong Kong and Singapore.
Jinwu Financial News | Morgan Stanley's Research Reports indicate that despite the change in the interest rate cycle, the industry's valuation remains attractive, and the ROE will be supported by the growth of non-interest income (especially in Wealth Business). Banks have achieved a certain rating upgrade through methods such as controlling costs and returning Cash to Shareholders using excess capital generated by high ROE. However, as interest rates decline, investors are concerned whether the current ROE level can be maintained. Morgan Stanley's Emerging Markets strategy team is Bullish on financial stocks (excluding China), particularly financial stocks in Singapore, expecting these stocks to perform well by 2025.
Morgan Stanley: Among Hk Based Banks, prefers STANCHART, lowers ratings for BOC HONG KONG and HANG SENG BANK to 'Shareholding.'
Morgan Stanley released a research report stating that banks in Hong Kong and Singapore performed well due to rising interest rates, but the interest rate cycle has turned, and it is expected that the future growth of non-banking business, especially wealth management, will support return on equity. The bank believes that banks in Hong Kong and Singapore have strong cash generation ability, therefore they remain defensive. Among Hk Based Banks, the bank prefers STANCHART (02888), while downgrading BOC HONG KONG (02388) and HANG SENG BANK (00011) ratings from 'in line with the market' to 'Shareholding'; raising the target price for BOC to HKD 108.5 from HKD 100.4.
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Express News | HSBC Bought Back 2.7 Mln Shares for HK$203.3 Mln on Jan 2 - HKEX Filing
On January 2, HSBC Holdings (00005.HK) spent 0.203 billion Hong Kong dollars to repurchase 2.7 million shares.
On January 3rd, GeLongHui reported that HSBC Holdings (00005.HK) announced the repurchase of 2.7 million shares for 0.203 billion Hong Kong dollars on January 2nd, 2025, with a repurchase price of 74.8-75.65 Hong Kong dollars per share.
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HSBC Holdings (00005.HK) spent 46.847 million HKD to repurchase 0.6172 million shares on December 31.
Gelonghui January 2丨HSBC Holdings (00005.HK) announced that on December 31, 2024, it spent 46.847 million Hong Kong dollars to buy back 0.6172 million shares, with a repurchase price of 75.85-75.95 Hong Kong dollars per share.
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On December 30, HSBC Holdings (00005.HK) spent 46.927 million Hong Kong dollars to repurchase 0.6208 million shares.
Gelonghui reported on December 31 that HSBC Holdings (00005.HK) announced that it repurchased 0.6208 million shares at a cost of 46.927 million Hong Kong dollars on December 30, 2024, with a repurchase price of 75.4-75.85 Hong Kong dollars per share.
Express News | HSBC Bought Back Total 469,432 Shares on Other Exchanges for GBP3.6 Mln on Dec 30 - HKEX Filing