Group 1 - The National Financial Regulatory Administration has approved the appointment of Edward John Weeks as a director and vice president of HSBC Bank (China) Limited [1][3][4] - The approved personnel must strictly adhere to the regulatory requirements set by the financial regulatory authority and are required to report their appointment status within three months from the date of the administrative decision [1][4] - If the approved personnel do not assume their position within the specified timeframe, the approval document will become invalid, and the regulatory authority will proceed with the cancellation of the administrative license [1][4]

Core Viewpoint - HSBC predicts that gold prices may surpass $5,000 per ounce in the first half of 2026, driven by a combination of geopolitical risks and deteriorating fiscal conditions [1][2] Group 1: Factors Influencing Gold Prices - HSBC's report highlights that the rising fiscal deficits in the Western world, particularly the projected $2.05 trillion federal deficit in the U.S. for the 2026 fiscal year, are becoming a hidden driver for gold price increases [2] - The increasing fiscal deficits are eroding the credibility of fiat currencies, thereby amplifying the appeal of gold as a non-debt asset [2] - Deutsche Bank notes a fundamental shift in market structure, where the pricing power of gold is moving from price-sensitive consumers to less price-sensitive official buyers, such as central banks [3] Group 2: Market Dynamics and Investor Behavior - Institutional investors are currently experiencing "FOMO" (Fear of Missing Out), which is driving short-term volatility in the gold market [4] - The report warns that if anticipated interest rate cuts do not materialize, the rebound in gold prices may face suppression and potential corrections [4] - The gold market in 2026 is expected to exhibit characteristics of "high volatility and high prices," reflecting a broader distrust in the existing credit system [4]

Group 1 - UBS reports that Hang Seng Bank (00011) has received a privatization proposal from HSBC Holdings (00005), which has been approved at the special meeting of Hang Seng Bank shareholders and the court meeting, with the bank set to delist on January 27 [1] - UBS anticipates that this will expedite the completion of the transaction by 4 to 5 months [1] - HSBC Holdings is expected to provide more financial details when it announces its fiscal year 2025 results on February 25 [1] Group 2 - UBS holds a more positive view on this transaction compared to the market, although it does not change the ultimate value of HSBC Holdings [1] - UBS maintains a "Neutral" rating on HSBC Holdings (HSBA.L) with a target price of £10.35 [1]

Group 1 - UBS reports that Hang Seng Bank has received a privatization proposal from HSBC, which has been approved at the special shareholders' meeting and court session, with the delisting scheduled for January 27 [1] - UBS anticipates that this will expedite the transaction completion by 4 to 5 months [1] - HSBC is expected to provide more financial details when it announces its fiscal year 2025 results on February 25 [1] Group 2 - UBS holds a more positive view on this transaction compared to the market, although it does not change the ultimate value of HSBC [1] - UBS maintains a "Neutral" rating on HSBC Holdings listed in London with a target price of £10.35 [1]

Group 1 - The core viewpoint of the report is that HSBC Holdings (00005) is expected to achieve a return on tangible equity (RoTE) of approximately 19% to 20% from 2027 to 2028 [1] - Citi has adjusted its valuation model's terminal year, raising the target price from HKD 127.8 to HKD 138.3 while maintaining a "Buy" rating [1] - The bank has slightly lowered its earnings per share forecasts for HSBC from 2025 to 2027 by 0% to 1%, reflecting an assumption of an additional Federal Reserve rate cut in 2026 [1] Group 2 - Despite the slight downward adjustment, Citi's forecasts remain 2% to 9% higher than the company's latest market consensus adjusted pre-tax profit, benefiting from higher revenue assumptions, particularly strong non-interest income growth in the Asian wealth business [1] - Citi projects HSBC's pre-tax earnings for 2025, 2026, and 2027 to be USD 29.584 billion, USD 35.94 billion, and USD 40.301 billion respectively [1] - The expected dividend returns for 2025, 2026, and 2027 are projected to be 4.6 cents, 5.2 cents, and 5.9 cents respectively, with adjusted return on equity estimates of 12.2%, 15.9%, and 17.9% for the same years [1]

Core Viewpoint - Citigroup's report indicates that HSBC Holdings (00005) is expected to achieve a return on tangible equity (RoTE) of approximately 19% to 20% from 2027 to 2028, leading to an increase in the target price from HKD 127.8 to HKD 138.3, while maintaining a "Buy" rating [1] Group 1 - Citigroup has slightly adjusted HSBC's earnings per share forecasts for 2025 to 2027 down by 0% to 1%, while introducing forecasts for 2028 for the first time [1] - The minor downward adjustment reflects the assumption of an additional Federal Reserve rate cut in 2026, yet the forecasts remain 2% to 9% higher than the company's latest market consensus adjusted pre-tax profit [1] - The higher revenue assumptions, particularly from strong non-interest income growth in the Asian wealth business, are the main contributors to the optimistic outlook [1] Group 2 - Citigroup projects HSBC's pre-tax earnings for 2025, 2026, and 2027 to be USD 29.584 billion, USD 35.94 billion, and USD 40.301 billion, respectively [1] - The expected dividend returns for 2025, 2026, and 2027 are projected to be 4.6 cents, 5.2 cents, and 5.9 cents, respectively [1] - The adjusted return on equity for 2025, 2026, and 2027 is anticipated to be 12.2%, 15.9%, and 17.9%, respectively [1]

Group 1 - Hang Seng Bank has received a privatization proposal from HSBC Holdings, which has been approved at a special shareholders' meeting and court session, leading to the bank's delisting on January 27 [1] - UBS anticipates that the completion of the transaction will be expedited by 4 to 5 months [1] - HSBC Holdings is expected to provide more financial details when it announces its fiscal year 2025 results on February 25 [1] Group 2 - UBS holds a more positive view on the transaction compared to the market, although it does not alter the ultimate value of HSBC Holdings [1] - UBS maintains a "Neutral" rating on HSBC Holdings listed in London with a target price of £10.35 [1]

Group 1 - The core viewpoint of the report is that Citigroup has adjusted HSBC Holdings' earnings per share forecast for 2025 to 2027 down by 0% to 1% due to the Federal Reserve's interest rate cut predictions [1] - Citigroup believes that HSBC can achieve a return on tangible equity (RoTE) of approximately 19% to 20% in the years 2027 to 2028 [1] - After incorporating the 2028 forecast, Citigroup has raised the target price for HSBC from HKD 127.8 to HKD 138.3 and reiterated a "buy" rating [1]

Group 1 - The core viewpoint of the article is that Citigroup has adjusted its earnings per share forecast for HSBC Holdings for the years 2025 to 2027 down by 0% to 1% due to the Federal Reserve's interest rate cut predictions [1] - Citigroup believes that HSBC can achieve a return on tangible equity (RoTE) of approximately 19% to 20% by the years 2027 to 2028 [1] - After incorporating the 2028 forecast, Citigroup has raised the target price for HSBC from HKD 127.8 to HKD 138.3 and reiterated a "buy" rating [1]

Core Viewpoint - Citigroup's research report indicates a downward adjustment of HSBC Holdings' earnings per share forecast for 2025 to 2027 by 0% to 1% due to the Federal Reserve's interest rate cut predictions [1] Group 1 - Citigroup believes HSBC can achieve a tangible return on tangible equity (RoTE) of approximately 19% to 20% in 2027 to 2028 [1] - Following the inclusion of the 2028 forecast, Citigroup raised the target price for HSBC from HKD 127.8 to HKD 138.3 [1] - The firm reiterated a "buy" rating for HSBC [1]