Changes in Hong Kong stocks | Bank of Hong Kong stocks fell once again, expectations of potential tax increases in the UK disrupt the sector market while worrying about losses on sovereign bonds

The Zhitong Finance App learned that Bank of Hong Kong stocks fell again. As of press release, Standard Chartered Group (02888) fell 4.38% to HK$213.8; HSBC Holdings (00005) fell 3.07% to HK$145.1; Dah Sing Bank Group (02356) fell 1.96% to HK$13.53; and Bank of China Hong Kong (02388) fell 0.20% to HK$50.05.

According to the news, there was news in early October that the UK is considering raising bank surcharges. According to reports, the three quarterly reports of HSBC and Standard Chartered are scheduled to be disclosed on October 27 and 28, respectively, while the UK's fall budget will be announced on October 28. At that time, whether or not to raise taxes will be officially announced.

Huatai Securities pointed out that since the end of September, there have been significant adjustments in Hong Kong bank stocks, and sector adjustments have mainly been affected by local bank valuations in Hong Kong. The situation in the Middle East has boosted oil prices, concerns about fiscal sustainability in major economies have heated up, and expectations that overseas central banks will continue to raise interest rates have been revived, which has jointly triggered a sell-off in the global bond market. The market is concerned about valuation losses on sovereign bonds held by banks, and that high interest rates will increase the pressure on credit exposure in relevant regions; the UK may further suppress valuations by raising taxes on banks.