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HSBC HOLDINGS Gains 2%+ at Midday; G Sachs Reiterates Buy
Recommend 53 Positive 78 Negative 45 |
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If inflation stays above 2%, most Fed officials support further rate hikes, minutes from the Fed meeting showed. HSBC HOLDINGS (00005.HK) opened 3.17% higher today (21st), with an intraday peak of HKD143.5. It closed at HKD141.9 by midday, up 2.31%, with turnover of 9.5149 million shares, involving HKD1.352 billion. STANCHART (02888.HK) opened 1.72% higher, hit a high of HKD204.4, and closed at HKD202.6 at midday, up 2.32%, with turnover of 490,600 shares, involving HKD99.6627 million. Goldman Sachs' research report covered HSBC HOLDINGS, which is hosting its Asia Seminar, where management outlined its strategic roadmap to transform the bank into a "growing, high-returning" institution. So far, Asia has contributed 51% of HSBC's deposits, 52% of revenue and 65% of PBT. Goldman Sachs believes HSBC is well positioned as a "connector" between China and global markets, with Hong Kong serving as a key platform for mainland clients expanding internationally. The broker upheld its positive view on HSBC HOLDINGS, citing its role as a global liquidity engine, a scalable deposit franchise, sustained and structural growth, and a liquidity-focused balance sheet. Goldman Sachs assigned a Buy rating on HSBC HOLDINGS with a TP of HKD165, and set a London TP of GBX1,700. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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