Group 1 - HSBC Holdings repurchased approximately 5.28 million shares across various exchanges [1] - On September 3, HSBC spent about 200 million HKD to buy back 2.01 million shares on the Hong Kong Stock Exchange, with prices ranging from 98.75 to 100.3 HKD per share [1] - On the same day, HSBC repurchased around 3.27 million shares on the London Stock Exchange and other exchanges, spending approximately 31.2 million GBP, with prices between 9.467 and 9.585 GBP per share [1]

Group 1 - HSBC Holdings announced a share buyback of 2 billion HKD to repurchase 2.0056 million shares [1]

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： HSBC Holdings plc 滙豐控股有限公司 呈交日期： 2025年9月4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) | 00005 | 說明 | | 普通股(每股0.50美元) | | | | | | 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 | | ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2025年8月31日 | 狀態: | 新提交 | | --- | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | | 公司名稱: | HSBC Holdings plc 滙豐控股有限公司 (「本公司」) | | | | 呈交日期: | 2025年9月4日 | | | | I. 法定/註冊股本變動 不適用 | | | | | 備註： | | | | | 由2009年10月1日起，英國《2006年公司法》已廢撤法定股本的概念。組織章程細則經已修訂，以刪去提及法定股本的條文。 | | | | FF301 第 1 頁 共 15 頁 v 1.1.1 III.已發行股份及/或庫存股份變動詳情 (A). 股份期權（根據發行人的股份期權計劃） 1. 股份分類 普通股 股份類別 不適用 於香港聯交所上市 (註1) 是 證券代號(如上市) 00005 說明 普通股(每股0.50美元) 股份期權計劃詳情 上月底結存的股份期權數 目 本月內變動 本月底結存的股份期權數 目 本月內因此發行的新股數 ...

Group 1: Federal Reserve Interest Rate Expectations - HSBC's Chief Asian Economist Frederic Neumann predicts a 25 basis point rate cut by the Federal Reserve in September, with a more conservative outlook suggesting a maximum of three cuts overall [1][3] - Market expectations for a 25 basis point cut in September exceed 90%, influenced by upcoming labor market data which could affect the timing of the rate cut [2][3] - Neumann notes that if the Fed does cut rates, Asian central banks are likely to follow suit, with countries like India, South Korea, and Indonesia already reducing rates, while Japan is an exception [3][4] Group 2: Economic Outlook for Asia - HSBC maintains an optimistic outlook for Asia's economic growth, projecting a 4.4% growth rate for 2025, significantly higher than the global average of 2.6% [3][4] - Despite global economic uncertainties in the first half of the year, HSBC has not adjusted its growth forecasts, citing stronger-than-expected growth in the first half [4] Group 3: Hong Kong's Financial Sector Trends - Hong Kong's status as an international financial center is expected to strengthen due to global capital reallocation and increasing outbound investment from China [6][7] - The rise in Chinese residents' wealth is benefiting Hong Kong's financial markets, including stock, insurance, and asset management sectors, enhancing its competitiveness in private wealth management [7] - Hong Kong is positioned as a hub for Chinese capital flowing overseas, potentially aligning its financial center status closer to London and New York [7]

Group 1: Federal Reserve and Interest Rate Expectations - The HSBC Global Investment Research Chief Asian Economist, Frederic Neumann, predicts a 25 basis point rate cut by the Federal Reserve in September, with a more conservative outlook suggesting a maximum of three rate cuts overall [1][2] - Market expectations for a September rate cut exceed 90%, influenced by upcoming labor market data which could impact the decision [1][2] - Neumann notes that if the Fed proceeds with a rate cut, Asian central banks are likely to follow suit, with countries like India, South Korea, and Indonesia already lowering rates [2] Group 2: Economic Outlook for Asia - HSBC maintains an optimistic outlook for Asia's economic growth, projecting a 4.4% growth rate for 2025, significantly higher than the global average of 2.6% [2] - Despite uncertainties in the global economy during the first half of the year, HSBC has not adjusted its growth forecasts, citing stronger-than-expected growth in the first half [3] - The firm anticipates a slowdown in economic growth for the following year, with a downward revision of the U.S. growth forecast from 1.8% to 1.3% [3] Group 3: Hong Kong's Financial Sector Trends - Hong Kong's status as an international financial center is expected to strengthen due to global capital reallocation and increasing outbound investment from China [6] - The city is becoming a hub for Chinese capital seeking international opportunities, contrasting with previous trends where foreign capital predominantly flowed into China [6] - The rise in wealth among Chinese residents is benefiting Hong Kong's financial markets, including stock, insurance, and asset management sectors [6] Group 4: Competition Between Hong Kong and Singapore - In private wealth management, Hong Kong is seen as surpassing Singapore, serving as a key conduit for Chinese capital to the world [6] - Singapore retains unique competitive advantages in foreign exchange trading and financing activities related to ASEAN [6]

Group 1 - Deutsche Bank announced the hiring of Lisa McGeough as the head of its Americas region and CEO of U.S. operations [1] - McGeough previously held a similar position at HSBC before leaving after a few months [1] - She is set to start at Deutsche Bank in early 2026 and will report to Fabrizio Campelli, a member of the management committee responsible for corporate and investment banking as well as the Americas, UK, and Ireland [1]

Industry Overview - The Zacks Foreign Banks Industry is focused on overseas banks operating in the U.S., supervised by the Federal Reserve, and offers a range of financial services to both individual and corporate clients [3] - The industry is undergoing significant restructuring efforts, with banks divesting non-core operations to concentrate on profitable markets and enhance their revenue mix [4] Key Themes Influencing the Industry - Restructuring Efforts: Foreign banks are actively restructuring their businesses to focus on core operations, which is expected to elevate expenses in the short term but drive long-term growth [4] - Relatively Lower Interest Rates: Global central banks have lowered interest rates, which is anticipated to benefit foreign banks' net interest income (NII) and margins, leading to improved loan demand and revenue growth [5] - Uneven Global Economic Recovery: The post-COVID-19 economic recovery has been inconsistent, affecting banks' profitability due to weak growth in their home markets [6] Industry Performance - The Zacks Foreign Banks Industry ranks 62 out of over 250 Zacks industries, placing it in the top 25% and indicating strong near-term performance potential [7][8] - The industry has outperformed the S&P 500 and the broader finance sector, with a collective stock surge of 68.7% over the past two years compared to 44.6% for the S&P 500 and 48.9% for the Zacks Finance Sector [11] Valuation Metrics - The industry has a trailing 12-month price-to-tangible book ratio (P/TBV) of 2.53X, significantly lower than the S&P 500's 13.04X, indicating a relative discount in valuation [15][18] Company Highlights HSBC - HSBC has $3.21 trillion in assets and is focusing on expanding operations in Asia, particularly in wealth management [21] - The bank plans to redeploy $1.5 billion from non-core activities into its core strategy and has been divesting operations in various countries [24][25] - HSBC's shares have increased by 6% in the past six months, with a Zacks Rank of 1 (Strong Buy) [27] UBS - UBS, with $1.67 trillion in assets, is enhancing its operations through partnerships and acquisitions, including the recent acquisition of Credit Suisse [30][31] - The company aims to reduce its Non-Core and Legacy risk-weighted assets by over $6 billion by the end of 2026 [32] - UBS shares have risen 19% in the past six months, also holding a Zacks Rank of 1 [34] Barclays - Barclays has total assets of £1,598.7 billion ($2,192.3 billion) and is focused on improving efficiency through cost-saving initiatives, targeting £2 billion in gross efficiency savings by 2026 [37][39] - The company has divested several non-core businesses and aims to simplify operations [40] - Barclays shares have gained 24.5% in the past six months, currently holding a Zacks Rank of 3 (Hold) [41]

Group 1 - HSBC Holdings announced a share buyback of approximately HKD 163 million, repurchasing 1.63 million shares at prices ranging from HKD 99.85 to HKD 100.7 per share [1] - On the same day, HSBC also repurchased about 2.31 million shares on the London Stock Exchange and other exchanges, spending approximately GBP 21.95 million, with share prices between GBP 9.471 and GBP 9.568 [1]

Group 1 - The company announced a share buyback of 1.63 billion HKD for 1.63 million shares on September 2, 2025, with a buyback price ranging from 99.85 to 100.7 HKD per share [1][2] - The total expenditure for the share repurchase in GBP was 21.95 million, acquiring 230.6 million shares [2]