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： 2026年1月16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 ...

Core Viewpoint - In a low-interest-rate environment, bank stocks are seen as representatives of dividend style investments, offering medium to long-term allocation value due to their high dividend characteristics [1] Group 1: Bank Indices Performance - The main bank indices in A-share and Hong Kong markets include the China Securities Bank Index, the China Securities Hong Kong Bank Index, and the China Securities AH Bank Index [2] - The China Securities Hong Kong Bank Index is expected to significantly outperform the China Securities Bank Index in 2025 [3] - From January 1 to December 31, 2025, the Hong Kong Bank Index recorded a growth of 28.94%, which is substantially higher than the 6.79% increase of the China Securities Bank Index and the 9.60% of the AH Bank Index [4] Group 2: Investment Trends and Fund Flows - In Q3 2025, the Hong Kong banking sector saw significant buying from insurance capital, while the A-share banking sector experienced substantial selling by public funds [10] - The proportion of active equity funds' holdings in A-share banks dropped from 3.91% to 1.49%, with the market value decreasing from 64.1 billion yuan to 30.8 billion yuan [10] - In contrast, insurance capital made 41 significant investments in banks throughout 2025, with 33 of these targeting H-share banks [10] Group 3: Stock Performance and Dividend Yields - The strong performance of the Hong Kong Bank Index is attributed to the notable gains of key stocks such as HSBC Holdings, which rose by 25.53%, and Standard Chartered, which increased by 30.66% [11] - The dividend yield for Hong Kong banks remains above 6%, making them attractive to insurance capital, while A-share banks generally have yields between 3% and 4% [13] - Historical data indicates that buying bank stocks before the Spring Festival has an 80% success rate, with quality joint-stock banks and city commercial banks often yielding excess returns [13] Group 4: Future Outlook - Looking ahead to 2026, insurance capital is expected to remain a significant source of funding, but bank stocks may underperform the broader market in the first quarter due to a growth-oriented market style [15] - The return on tangible equity (ROTE) for Hong Kong banks is projected to slightly decline in 2026, yet the combined return from dividends and buybacks is still expected to exceed 7%, maintaining their investment appeal [15]

Core Viewpoint - The core theme of the global economy is shifting from monetary stimulus to fiscal stimulus, with an expectation of increased government borrowing and a focus on debt sustainability in global economic discussions [1] Group 1: Economic Outlook - More countries are expected to turn towards fiscal spending this year, indicating a rise in government borrowing [1] - Market liquidity, which peaked in 2025, is anticipated to reverse its expansion trend this year [1] Group 2: Inflation and Central Bank Positioning - Inflation risks may be underestimated as liquidity flows into the real economy and fiscal stimulus increases, while the cost of living remains high [1] - These trends could lead to a more passive position for central banks [1]

Core Viewpoint - Standard Chartered Bank's Divya Devesh expresses a bearish outlook on Asian currencies for 2023, predicting they will generally underperform against the US dollar [1] Group 1: Currency Outlook - The bank believes the narrative of "de-dollarization" lacks credibility, instead observing signs of "re-dollarization" supported by strong growth expectations in the US, productivity improvements, and the AI boom [1] - Due to attractive yields offered by the US dollar, the proportion of Asian exporters converting dollars to local currencies remains low [1] Group 2: Foreign Investment Trends - Devesh notes that US AI-related transactions are driving foreign investments in US financial assets to record highs, a trend that is difficult to reverse [1]

格隆汇1月15日丨渣打集团(02888.HK)发布公告，2026年1月14日耗资996.13万英镑回购54.13万股。 ...

智通财经APP讯，渣打集团(02888)发布公告，于2026年1月14日，该公司斥资996.13万英镑回购54.13万 股股份。 ...

渣打集团(02888)发布公告，于2026年1月14日，该公司斥资996.13万英镑回购54.13万股股份。 ...

FF305 第 1 頁 共 7 頁 v 1.3.0 | 1). | 於2026年1月12日購回但尚未註銷 | | 554,022 | 0.0245 % | GBP | 18.0848 | | --- | --- | --- | --- | --- | --- | --- | | | 變動日期 | 2026年1月12日 | | | | | | 2). | 於2026年1月13日購回但尚未註銷 | | 541,683 | 0.024 % | GBP | 18.2635 | | | 變動日期 | 2026年1月13日 | | | | | | 3). | 於2026年1月14日購回但尚未註銷 | | 541,310 | 0.024 % | GBP | 18.4023 | | | 變動日期 | 2026年1月14日 | | | | | 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： 2026年1月15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 ...

Core Insights - Standard Chartered Bank, in collaboration with Yicai Media, held an online event titled "Standard Chartered Wealth Management 2026 Global and China Market Outlook," focusing on wealth strategies amid complex market conditions [1][2] - The event emphasized three core themes for 2026: the performance of risk assets, the debate surrounding AI bubbles, and the need for diversified investment strategies [2][12] Group 1: Global and China Market Outlook - The global economy is expected to experience a soft landing in 2026, favoring risk assets, but investors should diversify across regions to mitigate risks associated with a potential dollar shift [7][16] - The Chinese stock market is projected to benefit from policy dividends under the "14th Five-Year Plan," while U.S. stock valuations are high, necessitating a diversified asset allocation strategy [7][18] - Investors are advised to increase allocations to alternative investments, particularly gold, to enhance portfolio resilience against risks [7][21] Group 2: Investment Themes and Strategies - Theme 1: Stocks - AI-driven earnings growth is anticipated to overcome high valuation pressures, making it a favorable time for diversified stock allocations, particularly in the U.S. and Asia [18][19] - Theme 2: Bonds - Emerging market bonds are expected to outperform developed market bonds, with non-U.S. debt offering attractive yields as U.S. interest rates decline [19][20] - Theme 3: Diversified Assets - Gold is projected to continue its upward trend, with a forecast of reaching $4,800 per ounce in the next 12 months, serving as a stabilizing asset in investment portfolios [21][22] Group 3: AI Bubble Discussion - The current AI hype may not represent a bubble, as the industry is still in its early stages, with significant potential for value creation in the long term [26][29] - The discussion highlighted the need for technological breakthroughs and sustainable development in the AI sector to realize its full potential [29][30] - The focus should be on identifying genuine structural opportunities within the market, rather than merely speculating on potential bubbles [30]

Group 1 - Standard Chartered Bank maintains an optimistic outlook for Vietnam's economy, predicting a GDP growth rate of approximately 7.2% by 2026, despite being below the government's target of 10% [1] - Vietnam continues to be recognized as the fastest-growing economy in Asia, outperforming other economies amid a regional slowdown [1] - Trade and tariffs are identified as the biggest risk factors for Vietnam's economic development, with significant implications from ongoing negotiations with the U.S. government regarding origin rules and transshipment issues [1] Group 2 - The manufacturing sector remains a key driver for attracting foreign investment and plays a crucial role in Vietnam's economy [2] - There is a mixed outlook for capital flows, with foreign direct investment (FDI) showing positive growth last year, but new registered capital experiencing stagnation due to investor caution while awaiting the outcome of U.S.-Vietnam trade negotiations [2] - A favorable trade agreement with the U.S. is expected to lead to a strong rebound in new registered foreign investment, enhancing mid-term growth prospects [2]