Core Insights - Grupo Rotoplas has been awarded the 2025 Sustainable Innovation Leadership Award by HSBC in collaboration with EY, recognizing its commitment to sustainability in the Environmental category [1][2]. Group 1: Awards and Recognition - The 2025 award marks a significant achievement for Grupo Rotoplas, completing a full cycle of awards across the three ESG dimensions: Environmental, Governance (2022), and Social (2023) [2]. - The independent judging panel acknowledged Rotoplas' Sustainability Strategy, which emphasizes efficiency, innovation, and environmental stewardship, aligning with the UN Sustainable Development Goals [3]. Group 2: Company Overview - Grupo Rotoplas is a leading provider of water solutions in the Americas, with over 45 years of industry experience and operations in 14 countries [4]. - The company has a diverse portfolio that includes 27 product lines, a services platform, and an e-commerce business, and has been listed on the Mexican Stock Exchange since December 10, 2014 [4].

Max Kettner, chief multi-asset strategist at HSBC, joins CNBC's "Money Movers" to discuss his market outlook. ...

Earnings Expectations - Earnings expectations for Q3 are down 2% quarter over quarter, similar to the setup seen in Q2 [2] - In Q2, consensus earnings expectations for the broader market (excluding technology) were about 2.5%, while realized earnings growth was 8.5%, indicating significant upside potential [3] Market Performance - The Dow and S&P indices experienced their best week since August, reflecting a positive sentiment in the market [1] - Despite some sectors underperforming, such as regional banks and oil, defensive sectors like healthcare, utilities, and gold are performing well [5] Sector Analysis - Regional banks have underperformed by more than 25 percentage points compared to large banks since early 2023, suggesting a preference for large banks as a safer investment [8] - The oil sector is facing challenges due to excess supply following the end of the US driving season, leading to a lack of allocation in energy assets [7] Investment Strategy - The strategy involves not completely rotating away from AI and tech stocks but also considering buying dips in banks and looking at industrials [9] - Gold is being recommended alongside tech stocks, driven by factors such as China's gold stockpiling and central bank diversification [10][14]

indices all coming off their second positive week in three. The Dow and the S&P with their best week since August. Joining us with his outlook this morning, HSBC chief multiasset strategist Max Kentner.Max, good to see you again. What do you think is driving some of this short-term enthusiasm. It's I mean, without data, we don't have as many Fed conversations, but certainly earnings are beginning to heat up.Yeah, I think it's uh really the earnings side of things because when we look at earnings expectation ...

Earnings Expectations - Earnings expectations for Q3 are down 2% quarter over quarter, similar to the setup seen in Q2 [2] - In Q2, consensus earnings expectations for the broader market (excluding technology) were about 2.5%, while realized earnings growth was 8.5%, indicating significant upside potential [3] Market Performance - The Dow and S&P indices experienced their best week since August, reflecting a positive sentiment in the market [1] - Despite some sectors underperforming, such as regional banks and oil, defensive sectors like healthcare, utilities, and gold are performing well [5] Sector Analysis - Regional banks have underperformed by more than 25 percentage points compared to large banks since early 2023, suggesting a preference for large banks as a safer investment [8] - The oil sector is facing challenges due to excess supply following the end of the US driving season, leading to a lack of allocation in energy assets [7] Investment Strategy - The strategy involves not completely rotating away from AI and tech stocks but also considering buying dips in banks and exploring opportunities in manufacturing-sensitive sectors like industrials [9] - Gold is being recommended alongside tech stocks, driven by factors such as China's gold stockpiling and central bank diversification, rather than solely as a hedge against currency debasement [10][14]

Market Sentiment - The Hong Kong residential property market is showing signs of mending investor sentiment, although analysts remain cautious about a full recovery due to geopolitical tensions and economic uncertainties [1] - Investors accounted for 20% of the market's total transactions in 2025, with certain districts near universities potentially having a higher proportion of investor activity [1] Rental Yields - The average gross rental yield for mass residential units in Hong Kong is 3.7%, which is appealing to mainland buyers [2] - Hong Kong's residential rents increased in August, with the rental index rising by 1.12%, marking the largest increment in 14 months, bringing it close to the record high of 200.1 recorded in August 2019 [6] Interest Rates and Economic Factors - Investor interest is being driven by expectations of further interest rate cuts and potential rent increases, with HSBC offering a fixed-rate mortgage plan at 2.73% per annum [3] - Following the US Federal Reserve's easing of policy rates, the Hong Kong Monetary Authority reduced the prime lending rates by 12.5 basis points on September 18 [4] Market Challenges - The Hong Kong economy faces challenges such as weak consumption, high vacancy rates in commercial buildings, and an oversupply of private residential units [5] - While rental yields may not be the most attractive incentive, lower residential flat prices could present a good entry point for investors seeking capital gains [6]

Core Viewpoint - Morgan Stanley maintains an "overweight" rating for both HSBC Holdings (00005) and Standard Chartered (02888), with a preference for Standard Chartered in the six-month investment outlook [1] Group 1: Target Prices and Ratings - HSBC's target price is maintained at HKD 122, while Standard Chartered's target price is raised from HKD 162 to HKD 168 [1] Group 2: Short-term Impact and Performance - The planned privatization of Hang Seng Bank (00011) has already been reflected in HSBC's stock price, and investors may refrain from factoring in long-term synergies until more quantitative guidance is provided by management [1] - The third-quarter performance will be a key driver for short-term stock prices, with trading fees and credit costs related to Hong Kong commercial real estate being critical variables [1] Group 3: Market Reactions and Opportunities - On October 17, Standard Chartered's stock fell by 5.1%, underperforming the Hang Seng Index and HSBC by 2.6 and 3.1 percentage points, respectively, likely due to investor risk aversion stemming from U.S. credit risk events [1] - The company views any further stock price adjustments as a buying opportunity, given Standard Chartered's limited direct exposure to the U.S. market and its strengthened risk management measures in recent years [1] - Financial market volatility may positively impact Standard Chartered's market revenue in the fourth quarter [1]

另外，渣打股价于10月17日下跌5.1%，跑输恒生指数及汇控分别2.6及3.1个百分点，可能是由于投资者 因美国信贷风险事件而采取避险情绪。该行认为，若股价进一步调整，将是买入机会，因渣打对美国市 场的直接敞口有限，且近年来加强了风险管理措施，导致风险敞口收缩。此外，金融市场波动可能对渣 打第四季度的市场收入构成正面影响。 智通财经APP获悉，摩根大通发布研报称，对汇丰控股(00005)及渣打集团(02888)均维持"增持"评级， 但在六个月投资展望上更偏好渣打，该行维持汇控目标价122港元，上调渣打目标价由162港元升至168 港元。 该行认为，计划私有化恒生银行(00011)对汇丰控股短期影响已反映在股价中，投资者可能在管理层提 供更多量化指引前，不会计入长期协同效应。第三季度业绩将成为短期股价的驱动因素，交易费用及香 港商业地产敞口导致的信贷成本将是关键变动因素。 ...

智通财经APP讯，汇丰控股(00005)发布公告，于2025年10月17日斥资4798.65万英镑回购494.29万股股 份;斥资4.64亿港元回购456.64万股股份。 ...

格隆汇10月20日丨汇丰控股(00005.HK)公告，10月17日耗资4.64亿港元回购456.64万股，每股回购价 100.6-102.4港元。 ...