FF305 | 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 | | | | | 事件 | | 已發行股份（不包括庫存股份）數 目 | 佔有關事件前的現有已發 行股份（不包括庫存股 份）數目百分比 (註3) | | 庫存股份數目 | 每股發行/出售價 (註4) | | 已發行股份總數 | | 於下列日期開始時的結存(註1) | 2025年7月11日 | | 17,454,926,728 | | 0 | | | 17,454,926,728 | | 1). 購回股份 (股份購回並註銷) | | | -587,599 | 0.003366 % | GBP ...

Market Trends - HSBC strategists suggest that relentless dollar-selling is resembling a bubble [1] - The dollar-selling bubble is expected to eventually pop [1]

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： HSBC Holdings plc 滙豐控股有限公司 呈交日期： 2025年7月14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 ...

Core Viewpoint - HSBC's foreign exchange research head Paul Mackel indicates that changes in U.S. policy, along with upcoming inflation data, are likely to dictate the dollar's trend this week [1] Group 1: U.S. Economic Indicators - The June Consumer Price Index (CPI) is expected to show a slight increase compared to May [1] - The dollar is beginning to respond to data in a more conventional manner, suggesting that weak data could hinder the dollar's performance [1] Group 2: Trade Policy and Tariffs - Announcements regarding potential tariffs on certain countries (such as Brazil, Canada, the EU, and Mexico) and target products (like pharmaceuticals and copper) are contributing to heightened uncertainty [1] - While these tariff announcements may provide short-term support for the dollar, other policy risks must also be considered, including recent criticisms of Federal Reserve Chairman Powell regarding renovation costs [1]

Core Viewpoint - HSBC Holdings has shown strong year-to-date (YTD) and one-year (1Y) returns of approximately 22% and 38% respectively, driven by positive sentiment surrounding its restructuring and cost-cutting initiatives [1] Group 1 - HSBC is recognized as a prominent traditional bank with a global presence, operating in regions such as the UK, US, Asia, and the Middle East [1] - The bank's restructuring efforts and cost-cutting measures have contributed significantly to its recent performance [1] - The optimism regarding HSBC's future prospects is reflected in its substantial stock performance over the past year [1]

Core Viewpoint - HSBC's report highlights a significant increase in Asian exports, particularly from China and South Korea, while US inventory growth remains modest, indicating complexities in trade front-loading effects [1][2][4]. Group 1: Asian Exports - Recent data shows that export volumes from China and emerging Asia (excluding China) have reached historical highs, with South Korea's exports in Q2 experiencing a notable quarter-on-quarter increase [2]. - The report suggests that if US importers are indeed stockpiling goods to avoid higher tariffs, US inventories should have surged significantly, but the actual data does not reflect such a dramatic increase [1][4]. Group 2: US Inventory Dynamics - Although US retail inventories (excluding automobiles) have risen, the increase is relatively modest, only slightly surpassing the peak levels of September 2022, and is significantly lower than the inventory spikes seen during the pandemic [9]. - The US retail inventory-to-sales ratio has remained nearly unchanged in recent months, indicating that retailers are maintaining relatively lean inventory levels [9]. Group 3: Possible Explanations for Inventory Trends - HSBC provides three potential explanations for the observed inventory trends: data lag, bonded warehouse storage, or unexpectedly strong US end-demand [13]. - Data lag suggests that the increase in imports in April may have been followed by a significant drop in May, possibly in response to tariff announcements [13]. - Bonded warehouse storage allows US importers to store goods without paying tariffs for up to five years, which may explain the increase in imports without a corresponding rise in retail inventory [13]. - The report indicates that while there is evidence of front-loading, overall US inventory has not excessively inflated, suggesting stronger-than-expected end-demand [17]. Group 4: Future Implications - HSBC warns that high tariffs will ultimately have a significant impact on Asian exports, despite the current resilience in demand and inventory levels [1][17].

Climate Alliance - HSBC has exited the world's largest climate alliance for banks [1] - The climate alliance experienced an exodus of major US lenders earlier in the year [1]

Core Viewpoint - HSBC has decided to withdraw from the global banking sector's climate alliance, indicating a shift in its approach to climate-related commitments [1] Group 1: Company Actions - HSBC's exit from the climate alliance reflects a strategic decision that may impact its reputation and stakeholder relationships [1] - The move could signal a broader trend among financial institutions reassessing their commitments to climate initiatives [1] Group 2: Industry Implications - The withdrawal raises questions about the effectiveness and influence of climate alliances in driving sustainable practices within the banking industry [1] - Other banks may follow suit, potentially leading to a fragmentation of collective climate efforts in the sector [1]

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： HSBC Holdings plc 滙豐控股有限公司 呈交日期： 2025年7月11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 ...

Core Viewpoint - AMD's stock price increased by 3.7% following HSBC's upgrade of its rating from Hold to Buy [1] Company Summary - HSBC has raised AMD's rating, indicating a positive outlook for the company's stock performance [1]