Group 1 - Morgan Stanley has a positive outlook on the financial industry in Hong Kong, citing improved revenue growth visibility driven by stable deposit increases and a stable HIBOR, which boosts net interest income [1] - The wealth management sector is performing strongly and is a major driver of non-interest income growth [1] - The sentiment in the residential market is improving, leading to a slight decrease in commercial real estate risks, although banks have varying views on risks associated with retail and office properties [1] Group 2 - Morgan Stanley notes that Hong Kong banks have diverse strategies regarding digital assets, with Standard Chartered Group having the most comprehensive positioning in the stablecoin and cryptocurrency ecosystem [1] - Overall, the firm maintains an optimistic stance on Hong Kong banks, with Standard Chartered being the preferred stock in the industry [1] - For non-bank financial institutions, the Hong Kong Stock Exchange is expected to benefit from stable market sentiment and IPOs, driving earnings per share growth, although new derivative measures are unlikely to be significant revenue drivers in the short to medium term [1]
小摩：对香港金融行业前景看法正面 港银首选渣打集团(02888)