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Hang Seng Bank (00011.HK) spent HKD 20.225 million to repurchase 0.2 million shares on July 26th.
Hang Seng Bank (00011.HK) announced on July 26th that it has repurchased 0.2 million shares for HKD 20.225 million.
Major bank rating | Citigroup: Expects net interest spread of hk based banks to remain resilient in the second half of the year, with a preference for HSBC.
According to a report by Citi on July 26th, Hong Kong-based banks rose 15% in the second quarter, outperforming the Hang Seng Index during the same period, mainly due to the easing of market concerns about asset quality and individual banks improving capital returns. Recently, the market has again focused on the performance of local commercial real estate, as well as the headwinds of short-term net interest margins, leading to a correction in bank stocks. The bank estimates that net interest margins will remain resilient in the second half of the year, and losses from commercial real estate loans will remain manageable. Among the bank stocks, the bank prefers HSBC, with a buy rating and a target price of HK$74, offering a tangible asset return on investment of 14% to 15%, excluding Canada and Argentina.
Citigroup's local banks maintained resilience in net interest margin in the second half of the year. East Asia (00023.HK) rating was downgraded to "neutral".
According to a report by Citigroup, Hong Kong bank stocks rose 15% in the second quarter, outperforming the Hang Seng Index during the same period, mainly due to the easing of market concerns about asset quality and individual banks' improvement in capital returns. Recently, the market has once again focused on the performance of local commercial real estate and the headwind of short-term net interest spread, which has caused bank stocks to retreat. The bank estimates that the net interest spread will remain resilient in the second half of the year, and the loss of commercial real estate loans is still manageable. Among bank stocks, the bank prefers HSBC (00005.HK), with a tangible return on equity of 14%-15% excluding Canada and Argentina, and the current price to tangible asset ratio.
The investment rating and target price (table) update of Hang Seng Bank (00011.HK) in Great Bank.
Hang Seng Bank (00011.HK) will announce its interim performance next Wednesday (31st). Under the challenge of the macroeconomic situation in Hong Kong, it is expected to be affected by the decline in loan growth, the narrowing of net interest margin in the first half year, and other factors. Based on the predictions of four brokerages, Hang Seng Bank's pre-tax profit for the middle of 2024 is expected to be between 10.225 billion and 10.977 billion yuan, which is a year-on-year decrease of 0.1% to 6.7% compared to 10.961 billion yuan in the middle of 2023, with a median of 10.499 billion yuan which is a year-on-year decrease of 4.2%. Based on the predictions of three brokerages, Hang Seng Bank's interim performance before deducting expected credit losses and provision of other credit impairments in 2024 is
On July 25th, there was a repurchase gathering. Meituan-W and AIA Insurance repurchased, with Meituan-W spending 0.495 billion Hong Kong dollars.
According to the documents disclosed by hkex on July 26, Meituan-W (03690.HK) and AIA (01299.HK) repurchased shares. (1) Meituan-W repurchased 4.6 million weighted voting right shares on July 25, involving HKD 0.495 billion, with a repurchase price per share between HKD 111.4 and HKD 106.3. Since the authorization of the repurchase resolution, the cumulative number of repurchased securities is 0.112 billion shares, accounting for 1.802% of the number of issued shares at the time of the ordinary resolution. (2) AIA
Hang Seng Bank (00011.HK) repurchased 0.2 million shares involving 20.32 million yuan.
Hang Seng Bank (00011.HK) disclosed in its report that on July 25, it repurchased 0.2 million shares on the Stock Exchange at a price ranging from HKD 101.1 to HKD 102.6 per share, involving a total amount of approximately HKD 20.32 million. Since the resolution was passed on May 8, Hang Seng has repurchased a total of 135.0186 million shares, accounting for 0.7079% of the share capital.
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