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<Research>JPM Favors HSBC HOLDINGS, BOC HONG KONG; HK Banks' Results for 2025 Mixed
Recommend 67 Positive 111 Negative 60 |
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Hong Kong banks' results for FY25 were mixed, with average earnings growth of 4% YoY, slowing from the 28% growth in FY24, JPMorgan said in its research report. Trends among banks also diverged. Standard Chartered Hong Kong, DBS Bank (Hong Kong), and DAHSING BANKING (02356.HK) recorded growth of over 20%, whereas BANK OF E ASIA (00023.HK) and Hang Seng Bank posted double-digit declines. In terms of stock selection, JPMorgan favors HSBC HOLDINGS (00005.HK) and BOC HONG KONG (02388.HK), believing these two stocks are likely to outperform the broader market if short-term market volatility persists. STANCHART (02888.HK) remains a higher-beta name amid geopolitical uncertainties. The report has assigned an Overweight rating to HSBC HOLDINGS (00005.HK) with a target price of HKD180 and to STANCHART (02888.HK) with a target price of HKD270. DAHSING BANKING has also been rated as Overweight with a target price of HKD14.5, while BOC HONG KONG has a Neutral rating and a target price of HKD43.3. Auto-translated by AI AASTOCKS Financial News |
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