花旗发表报告指，汇丰控股公布第三季业绩，除税前利润达91亿美元，高于市场共识9%；收入高于预 期5%，收入增长主要来自银行业务的净利息收入高于预期4%，以及非净利息收入高于预期6%，而汇控 亦调高今年净利息收益及均有形股本回报率指引。 总体而言，该行认为此为强劲的基础业绩表现，在近期因恒生银行相关消息及诉讼公告导致股价走弱 后，应能提供一定信心支持。该行重申对伦敦上市的汇控"买入"评级及目标价11.6英镑(约120.29港 元)，并视汇控为该首选股票之一。 ...

HSBC, the largest bank in Hong Kong, warned that the city’s commercial property sector continues to face “downward pressure” after bad loan provisions jumped this year https://t.co/wMBMWhGOvZ ...

Market Overview - European stocks are expected to open flat to higher, with the U.K.'s FTSE index slightly up, Germany's DAX and France's CAC 40 down by 0.2%, and Italy's FTSE MIB just below the flatline [1] Federal Reserve Meeting - The U.S. Federal Reserve's two-day meeting begins on Tuesday, with a 96% chance of a 25 basis-point rate cut anticipated by the market [2] - Traders are looking for signals from Fed Chair Jerome Powell regarding another potential rate cut at the final meeting of the year in December due to concerns about a weakening labor market [2] Economic Data and Geopolitical Concerns - The Fed is facing an economic data blackout due to the ongoing U.S. government shutdown, with limited recent data available, including last week's inflation report [3] - Geopolitical issues, particularly the U.S.-China trade dispute, are also significant for investors, with a meeting scheduled between President Trump and President Xi Jinping in South Korea to address trade tensions [3] Trade Negotiations - Both the U.S. and China appear to be in a conciliatory mood, having agreed on a framework for a potential trade deal that includes topics such as rare earths export restrictions, soybean purchases, and TikTok [4] - President Trump expressed optimism about reaching a deal with President Xi during their upcoming meeting at the APEC Summit [4] Earnings Reports - Key earnings reports in Europe on Tuesday include Novartis, BNP Paribas, Capgemini, Air Liquide, Iberdrola, ASM International, and Logitech [5] - HSBC, Europe's largest lender, reported third-quarter profits that exceeded expectations [5]

Core Viewpoint - HSBC's share price increased by 3.2% in Hong Kong following the release of its latest earnings report, indicating positive investor sentiment towards the company's financial performance [1] Price Movement - The share price rose to a high of $105 from a low of $100 earlier in the week, showing a significant rebound [1] - The current price remains below the year-to-date high of $112, suggesting potential for further growth [1]

消息面上，汇丰控股午间公布，2025年第三季度，列账基准除税前利润为73亿美元，较2024年第三季减 少12亿美元；不计及须予注意项目之固定汇率除税前利润为91亿美元，较2024年第三季增加3亿美元， 增幅为3%；收入较2024年第三季增加8亿美元至178亿美元，增幅为5%；净利息收益为88亿美元，较 2024年第三季增加11亿美元，增幅为15%；预期信贷损失为10亿美元，与2024年第三季持平。董事会已 通过派发2025年第三次股息每股0.1美元。此外，汇丰控股目前预期2025年银行业务净利息收益将达到 430亿美元，甚至更高，反映对香港和英国等主要市场近期政策利率走势的信心增强。 汇丰控股(00005)午后涨超3%，截至发稿，涨3.24%，报105.3港元，成交额17.86亿港元。 ...

Core Viewpoint - HSBC Holdings reported a mixed financial performance for Q3 2025, with a decrease in pre-tax profit but an increase in revenue and net interest income, reflecting confidence in key markets [1] Financial Performance - The reported pre-tax profit on a reported basis was $7.3 billion, a decrease of $1.2 billion compared to Q3 2024 [1] - The adjusted pre-tax profit, excluding notable items, was $9.1 billion, an increase of $0.3 billion, or 3%, from Q3 2024 [1] - Total revenue increased by $0.8 billion to $17.8 billion, marking a 5% growth compared to Q3 2024 [1] - Net interest income rose to $8.8 billion, an increase of $1.1 billion, or 15%, from Q3 2024 [1] - Expected credit losses remained stable at $1 billion, unchanged from Q3 2024 [1] Dividend and Future Outlook - The board approved a third interim dividend of $0.1 per share for 2025 [1] - HSBC anticipates that net interest income for its banking operations will reach $43 billion or higher in 2025, indicating increased confidence in recent policy rate trends in key markets such as Hong Kong and the UK [1]

Group 1: HSBC Holdings Plc - HSBC Holdings Plc reported revenue that exceeded market expectations, but profitability was significantly impacted by a $1.1 billion provision related to the Madoff fraud [3][8]. Group 2: Japanese Yen and Bank of Japan - The Japanese Yen strengthened against the U.S. Dollar, with the USD/JPY exchange rate falling 0.62% to 151.94, indicating a shift in market sentiment influenced by the Bank of Japan's monetary policy discussions [4][8]. - The Bank of Japan continues to monitor measures of underlying inflation, which are crucial for future policy decisions [4][8]. Group 3: OpenAI and Mental Health - OpenAI disclosed that over one million ChatGPT users engage in conversations about suicidal thoughts each week, leading to increased scrutiny and lawsuits as the company works to enhance AI responses to mental health crises [5][8]. Group 4: China's Corporate Profits - Despite a reported rebound in China's corporate profits, market analysts suggest this development holds limited significance for investors focused on broader international trade dynamics [6][8].

Core Insights - The London-based bank reported a net profit decline of 21% year-over-year, amounting to $4.87 billion for the three months ending in September [1] Financial Performance - Net profit decreased from the previous year, reflecting a significant drop in earnings [1] - The reported figure of $4.87 billion indicates a challenging financial environment for the bank during this period [1]

Core Insights - HSBC Holdings reported a Q3 2025 revenue of $17.788 billion, a 5% year-on-year increase [1] - The profit attributable to ordinary shareholders decreased by 20.56% to $4.873 billion [1] - Basic earnings per share were $0.28, with a third interim dividend of $0.10 per share [1] Financial Performance - For the first nine months, net operating income was $51.91 billion, down 4.38% year-on-year [1] - Profit attributable to ordinary shareholders for the same period was $16.383 billion, a decrease of 27.89% [1] - Basic earnings per share for the first nine months were $0.93 [1] Business Segments - Q3 revenue growth was supported by increased customer activity in international wealth management and the wealth management business in Hong Kong [1] - Conversely, the global foreign exchange and debt and equity markets within the corporate and institutional banking segment reported declines due to reduced customer activity in a low volatility market environment [1] - The increase in revenue also reflected growth in net interest income from banking operations, with fixed exchange rate income rising by $0.5 billion to $17.9 billion [1]

Core Insights - HSBC Holdings reported a Q3 2025 revenue of $17.788 billion, a 5% year-on-year increase, while net profit attributable to ordinary shareholders decreased by 20.56% to $4.873 billion [1] - For the first nine months of 2025, net operating income was $51.91 billion, down 4.38% year-on-year, with net profit attributable to ordinary shareholders at $16.383 billion, a decrease of 27.89% [1] - The increase in Q3 revenue was attributed to higher customer activity, particularly in international wealth management and the wealth management business in Hong Kong, while corporate and institutional banking segments saw declines due to reduced customer activity in a low-volatility market [1] Financial Performance - Operating expenses for Q3 2025 were $10.1 billion, an increase of $1.9 billion or 24% compared to Q3 2024, reflecting legal provisions related to past events totaling $1.4 billion [2] - The legal provisions included $1.1 billion related to claims from the Luxembourg case and $300 million associated with past transactions of HSBC Holdings [2] - Benchmark operating expenses were $8.4 billion, up $300 million or 3% from Q3 2024, with increases in technology investments and inflation impacts [2]