港股稳定币概念股多数走强，联易融科技(09959.HK)涨超6%，京东(09618.HK)涨超1%，渣打集团 (02888.HK)跟涨。 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 渣打集團有限公司 呈交日期： 2025年6月2日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 02888 | 說明 | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | | | | | 事件 | 已發行股份（不包括庫存股份）數 目 | | 佔有關事件前 ...

Core Viewpoints - Standard Chartered's Corporate and Institutional Banking (CIB) has a positive long-term target with a revenue growth CAGR of 5%-7% and continued improvement in RoRWA [1][2] - The bank is focusing on cross-border large clients and financial institutions, with the potential for revenue to double as clients operate in more markets and use more products [1][3] - The current uncertainty caused by tariffs may lead to a more complex and fragmented world, but not a complete decoupling of all countries, with a long-term trend towards international supply chain restructuring benefiting Standard Chartered [2][13] Event Overview - On May 15, Standard Chartered held an investor day for its CIB, outlining its goals and competitive advantages [1] Business Growth and Strategy - The CIB aims for a revenue growth CAGR of 5%-7% (excluding currency fluctuations) and a continued decrease in the cost-to-income ratio [1][2] - The bank's global cross-border business revenue is expected to rise to 70% from the current 61%, with financial institution client revenue increasing to 60% from 51% [1][2] Performance Metrics - In the short term, Standard Chartered achieved a 5% year-on-year growth in CIB for 2024 and Q1 2025, with global banking and markets seeing over 10% growth [2] - RoRWA has improved from 4.9% in 2019 to 7.8% in 2024, supported by stable profit growth and RWA optimization [2] Client Segmentation - Standard Chartered's CIB client base is primarily composed of multinational corporations and financial institutions, with cross-border clients contributing significantly to revenue [3][4] - The bank's focus on large multinational clients and financial institutions is driven by the higher average revenue per client, with clients using more products and operating in more markets leading to exponential revenue growth [6][8] Regional Performance - The fastest-growing regions for financial institution clients include Hong Kong, Europe, and the U.S., with transaction banking revenue growth rates exceeding 15% from 2019 to 2024 [4][5] - Trade and operational funding, payment and liquidity, and securities and brokerage services are the main revenue contributors within transaction services [8][9] Competitive Advantages - Standard Chartered has a significant first-mover advantage and a comprehensive product and service offering, creating a strong competitive moat [7][11] - The bank's extensive global network and deep market knowledge enable it to provide tailored services to clients, enhancing its competitive position [9][10] Future Outlook - The long-term trend of international supply chain restructuring and the "China+1" strategy is expected to accelerate, benefiting Standard Chartered as a key player in this environment [2][13] - The bank anticipates stable growth in global trade and financial market activities, supporting its CIB business to maintain a growth trend above 5% [2][12]

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) FF305 第 2 頁 共 7 頁 v 1.3.0 FF305 表格類別： 股票 狀態： 新提交 公司名稱： 渣打集團有限公司 呈交日期： 2025年5月30日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 02888 | 說明 | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | | | | | ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 渣打集團有限公司 呈交日期： 2025年5月29日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 | | 是 | | | 證券代號 (如上市) | 02888 | 說明 | | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | 事件 | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | | 每股發行/出售價 (註4) | 已發行股份 ...

香港稳定币相关概念板块： 5月21日，香港特别行政区立法会通过《稳定币条例草案》，以在香港设立法币稳定币发行人的发牌制 度，完善对虚拟资产活动在香港的监管框架，以保持金融稳定，同时推动金融创新。 就在同一期间，美国的稳定币法案推出在即。《引导和建立美国稳定币国家创新法案》目前以66票对32 票通过了美国参议院的程序性投票，标志着该法案在参议院取得了重要进展。后续，法案将进入参议院 全体表决阶段。如果参议院最终通过，法案还需送交众议院审议并通过，最后由总统签署生效。 事实上，从三年前起香港特区政府就开始关注稳定币。金融科技集团Hashkey代币化高级经理李炼炫， 负责牵头国内头部公募基金金在香港推出的第一批比特币ETF设计。在他看来，明确监管框架是主要意 图，特别是2022年TerraUSD的崩盘事件后，各地监管机构都开始意识到，稳定币市场的有序发展需要 清晰且明确的监管框架。同时，这也有助于维持香港的国际金融中心地位，尤其是增强对全球Web3项 目和人才的吸引力。未来，最有可能申请并获得法币稳定币发行牌照的机构可能是银行、大型互联网企 业、金融科技公司等。 智通财经APP获悉，圆币科技（RD InnoTech ...

Core Viewpoint - Standard Chartered's G10 FX Research Head, Steve Englander, warns of an imminent liquidity crisis facing U.S. assets, with 2026 potentially being a critical point for foreign investors' decisions on U.S. debt purchases [1] Group 1: U.S. Debt and Foreign Investment - Over the past decade, U.S. external debt has surged, with fiscal deficits heavily reliant on international capital inflows [1] - If foreign investors lose confidence in U.S. Treasuries and the dollar, the market will quickly feel the pain of "blood loss" [1] - The recent "Beautiful Bill" passed by the Senate failed to alleviate concerns about fiscal sustainability, with economists believing it will exacerbate deficits rather than resolve them [1] Group 2: Economic Indicators and Risks - Despite a 15 basis point decline in 10-year Treasury yields this year, the dollar index has plummeted 8% in 2025, signaling potential risks [1] - The low domestic savings rate in the U.S. poses a significant challenge, making foreign investor confidence crucial for maintaining the debt chain [1] - Englander cites Hemingway's quote about crisis patterns, suggesting that while the U.S. may maintain a "boiling frog" state for a while, 2026 could mark a turning point [1] Group 3: Inflation and Currency Concerns - Inflation and exchange rate risks are core concerns for foreign investors [2] - Even if the Federal Reserve eases monetary policy, rising risk premiums could deter foreign capital, potentially leading to an increase in long-term Treasury yields [2] - The lack of alternative options in the global market is currently delaying the crisis, with international investors likely to adopt a wait-and-see approach regarding tariff conflicts and the effects of the Trump administration's tax reforms and deregulation policies in 2025 [2]

Core Viewpoint - Standard Chartered warns of a significant risk of a decline in the US dollar by 2026 if President Trump's policies exacerbate the US debt burden without boosting the economy [1] Group 1: Economic Indicators - The report highlights that the US government debt and obligations to foreign investors have been increasing in recent years, posing risks to the dollar and US Treasury bonds [1] - The expanding US deficit is reducing national savings while increasing the demand for foreign savings, leading to a higher current account deficit [1] Group 2: Investor Confidence - If Trump's policies fail to stimulate economic growth and foreign investors lose confidence, maintaining a high current account deficit in the coming months may become challenging [1]

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 渣打集團有限公司 呈交日期： 2025年5月28日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 02888 | 說明 | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | | | | | 事件 | 已發行股份（不包括庫存股份）數 目 | | 佔有關事件 ...

Group 1 - The core viewpoint of the articles highlights a significant increase in trading volume for USD/KRW options, particularly bearish positions, driven by hedge funds seeking to capitalize on potential Korean won appreciation following the recent surge of the New Taiwan Dollar [1][4][6] - The nominal trading amount for USD/KRW put options exceeded $60 million last week, with a ratio of 3:2 compared to call options, indicating a strong preference for bearish bets on the USD/KRW exchange rate [1] - The risk reversal indicator shows that the premium required to hedge against a decline in USD/KRW has approached a 21-year high, reflecting heightened market concerns about the dollar's strength [1][7] Group 2 - The New Taiwan Dollar's unexpected 7% rise this month has reshaped market expectations for Asian currencies, leading investors to believe that the Korean won may replicate this upward movement [4] - The ongoing tariff negotiations between the U.S. and its trading partners have fueled speculation that the Trump administration may favor a weaker dollar, positioning the Korean won as a key tool for hedging against a strong dollar decline [6] - Following the significant fluctuations in the New Taiwan Dollar, there has been a notable increase in bearish interest for USD/KRW options, further stimulated by recent forex-related commentary [7]