Changes in Hong Kong stocks | HSBC Holdings (00005) rose more than 2%, Xiaomai expects the company's adjusted pre-tax profit to increase 11% year-on-year in the third quarter

The Zhitong Finance App learned that HSBC Holdings (00005) rose more than 2%. As of press release, it had risen 1.93% to HK$148, with a turnover of HK$959 million.

According to the news, Xiaomo recently released a research report saying that HSBC Holdings' revenue for the third quarter is expected to increase 7% year on year, respectively, and adjusted profit before tax will increase 11% year on year. On the industry side, Xiaomo pointed out that both banks, HSBC and Standard Chartered, said that they have not seen any significant impact of China's tightening measures on customer capital flows or new customer acquisition. Therefore, the wealth management business is expected to record another strong quarter, but risk sentiment is relatively weak. Looking ahead, the bank believes that higher interest rates should support net interest income, and it is expected that business volume will grow and asset quality will remain stable.

Goldman Sachs, on the other hand, expects HSBC Holdings' core pre-tax profit for the third quarter to be US$10.4 billion, which is 2% higher than market expectations, but the growth in net interest income from non-banking businesses is expected to slow down after strong performance in the second quarter. The bank also anticipates that the share repurchase scale will be reduced to US$500 million, reflecting continued loan growth and the negative impact of the steeper yield curve on other overall earnings.