Financial Industry 07 (Jul 18 - Dec 24)

[winston]

HK Strategy: HK financials’ increasing focus on shareholders’ return

The latest results announcement season highlighted Hong Kong (HK) banks’ increasing focus on shareholder return with dividends and share buybacks.

The expectation of interest rate cuts to be pushed back to 3Q24, coupled with a relatively tight liquidity environment in HK is likely to keep the HIBOR at a relatively higher level, should lend further support HK banks.

Within HK banks, we prefer HK international banks which could benefit from fee and loan growth outside of HK and Mainland China.

HK international banks’, i.e. both HSBC (5 HK) and Standard Chartered (SCB, 2888 HK), better-than-expected guidances are getting traction.

With HSBC’s investment thesis has been pretty well communicated, we believe SCB is likely to have more near-term incremental flow.

We retain our preference of BOCHK among HK domestic banks given relatively cheap valuation among its local peers and potential earnings upward revision.

Source: OCBC

[behappyalways]

Watch: Billionaire Real Estate Investor Expects 'One Or Two' Bank Failures A Week, UK Economist Says "Entering A New Dark Age"
https://www.zerohedge.com/economics/wat ... -economist

[winston]

by behappyalways:-

Russia Confiscates €800 Million From Deutsche Bank, Unicredit And Commerzbank

Source: Zero Hedge

https://www.zerohedge.com/crypto/russia ... ommerzbank

[behappyalways]

Rumors Of Another Bank Crisis Swirl As Big Banks Dump Loans
https://dashboard.verifiedinvesting.com ... dump-loans

[behappyalways]

The Music Just Stopped: Japan Banking Giant Norinchukin To Liquidate $63 Billion In Treasuries & European Bonds To Plug Massive Unrealized Losses
https://www.zerohedge.com/markets/music ... d-european