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<Research>JPM Expects HSBC HOLDINGS (00005.HK) to Outperform HK Banks, but Underperform State-owned Banks
HSBC HOLDINGS (00005.HK)/ STANCHART (02888.HK) spiked a total of 19%/ 25% YTD, compared to the HSI's incline of about 21% in the same period, JPMorgan released a research repor...
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<Research>JPM Expects HSBC HOLDINGS (00005.HK) to Outperform HK Banks, but Underperform State-owned Banks
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HSBC HOLDINGS (00005.HK)  +1.650 (+1.797%)    Short selling $107.38M; Ratio 12.579%   / STANCHART (02888.HK)  +2.000 (+1.603%)    Short selling $13.93M; Ratio 34.440%   spiked a total of 19%/ 25% YTD, compared to the HSI's incline of about 21% in the same period, JPMorgan released a research report saying.

The broker found that investors are increasingly worried about the US growth risk on the impact of the interest rate trend, which in turn affects the two banks' earnings outlook and valuation.

Related NewsSPDB Int’l Expects US Fed to Resume Rate Cuts as Early as Sep, Observes Whether Tariff Is One-off Impact on Inflation
Due to a higher overall return rate, JPMorgan expected HSBC HOLDINGS to outperform STANCHART and Hong Kong's banks, but may underperform Chinese state-owned banks.

Therefore, JPMorgan raised its 2025-2027 fee and other income forecasts by 2%/ 4%/ 4%, and net profit forecasts by 2%/ 2%/ 3%. The broker also elevated its target price to $115 from $108, with rating at Overweight.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-06-24 12:25.)

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