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| HSI1 | 25,893.54 | +141.14 | 246.32B |
| HSCEI1 | 8,655.04 | +43.21 | 75.28B |
| Back Zoom + Zoom - Block Traded | |
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2026-04-10 15:43:14 Goldman Sachs said in a report that HSBC HOLDINGS (00005.HK) will unveil its 1Q26 results on May 5. The broker expected underlying PBT of USD9.7 billion, flat YoY (up 14% QoQ), mainly supported by 4% revenue growth, including a 7% YoY hike in banking NII and a 1% YoY rise in non-banking NII. However, given the current environment, the broker foresaw HSBC to adopt a more conservative stance on provisioning, with additional overlays contributing to a higher cost of credit of 51 bps. This quarter, investor focus will be on management’s assessment of heightened geopolitical risks following the Iran war and the implications for oil prices, interest rates, FX and risk sentiment. Although some investors expected HSBC to resume share buybacks after the 1Q results, the broker continued to see 2Q as the more likely timing. It trimmed its EPS forecasts for FY26-29 by up to 2%, mainly reflecting FX factors that raised operating costs, with updated underlying costs of about USD33.8 billion. The broker reiterated its Buy rating on HSBC, with TP slightly lowered from HKD162 to HKD160. Goldman also trimmed its DPS forecasts for HSBC for 2026 from USD0.85 to USD0.83, for 2027 from USD0.94 to USD0.92, and for 2028 from USD1.00 to USD0.99. ~ AASTOCKS Financial News Website: www.aastocks.com | |