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| HSI1 | 23,393.32 | 0.00 | -- |
| HSCEI1 | 7,906.11 | 0.00 | -- |
| Back Zoom + Zoom - Block Traded | |
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2026-11-02 16:33:49 After HSBC HOLDINGS (00005.HK) released its 3Q results, JPMorgan revised down its EPS forecasts for 2026-28 by 2-3%, attributable to lower expectations for the banking NII. It forecast the banking NII at USD46.4 billion in 2026, rising to USD48.4 billion and USD49.9 billion in 2027 and 2028, respectively. Positive factors from interest-rate sensitivity, business volume growth and hedging were partly offset by deposit migration in Hong Kong and asset disposals. The broker slashed the TP by 9.8% from HKD205 to HKD185 after raising the risk-free rate assumption in its dividend discount model from 3.5% to 4%, while maintaining an Overweight rating. The broker expected the banking NII to log a CAGR of about 4% in 2025-28. Fee income was expected to benefit from structural trends in Asia, with wealth management remaining a strong growth driver. It also forecast the related ROTE at around 18.5% for 2026-28. ~ AASTOCKS Financial News Website: www.aastocks.com | |