Investment Rating - The industry investment rating is In-Line for both HK and ASEAN financials, with a preference for high total shareholder return (TSR) stocks in Singapore and Hong Kong [6][4]. Core Insights - The macroeconomic environment is expected to dominate discussions in the second half of the year, particularly regarding the impact of interest rates and potential tariffs on China and Hong Kong, as well as supply chain relocations into ASEAN [2][3]. - Singapore banks are anticipated to perform well, potentially benefiting from a lower cost of equity if revitalization measures for Singapore's equity market are implemented [2]. - Defensive stocks are favored in the current climate, with UOB being the most preferred bank in Singapore, while HSBC and Standard Chartered are expected to perform well due to dividends, share buybacks, and high return on equity (RoE) [2][4]. Summary by Sections Singapore and Hong Kong Financials - Preferred stocks include SGX, UOB, HSBC, and Standard Chartered, while Hang Seng and BoCHK are least preferred [4]. - Target prices for preferred stocks are set at 15.90 for SGX, 90.00 HKD for UOB, and 121.50 HKD for HSBC, with current prices showing slight upside potential for SGX and UOB, but downside for HSBC [8]. - The average daily traded value for UOB is 199 million USD, indicating strong liquidity [8]. Emerging Markets (EM) ASEAN - The report indicates a less favorable outlook for EM in the near term, particularly for Indonesia, where economic risks and lower commodity prices are expected to limit loan growth [3]. - The Philippines is highlighted as a preferred EM, benefiting from resilient RoE and increased retail lending penetration, with BDO and BPI being the preferred banks [3][9]. - Target prices for preferred EM banks include 10,017.00 for BCA and 8,625.00 for BRI, with current prices showing significant upside potential [9]. Financial Metrics - The report estimates a 2025 RoE of 33.3% for Singapore banks, with a target price-to-earnings ratio (PER) of 33.1 for SGX [8]. - Malaysian banks are expected to show defensive characteristics, but with stretched valuations compared to Singapore banks [2][3]. - The estimated dividend yield on target prices for preferred banks ranges from 2.3% for SGX to 6.0% for UOB in 2026 [9].

Barclays hired Joseph Lee from HSBC as head of high-touch equity sales trading for Asia-Pacific as the UK bank ramps up staffing after exiting the business almost a decade ago https://t.co/cKOluPrecX ...

HSBC handed out a round of bank downgrades this morning, cutting JPMorgan Chase & Co (NYSE:JPM) and Goldman Sachs Group Inc (NYSE:GS) to "reduce" from "hold," and Bank of America Corp (NYSE:BAC) shares to "hold" from "buy." The updates come as the three financial services giants prepare for earnings next week, with JPMorgan set to report second-quarter results before the open on Tuesday, July 15, while Bank of America and Goldman Sachs are slated to follow with premarket reports on Wednesday, July 16.JPM wa ...

So, you don't think trade is going to collapse. You see. Absolutely not. Absolutely not.We're bullish on trade. I mean, we are we're thinking that, you know, trade and all of our 6,000 corporates that we're speaking to are bullish on trade. Um, they just think it might be different corridors.There might be different cost equations that they need to manage, but they're also managing some of this through innovation. And I want to say something like 93% of the clients in the US we talked to are optimistic over ...

Core Viewpoint - HSBC has upgraded Nike's stock rating to 'Buy' from 'Hold' and increased the price target to $80 from $60, citing evidence of sales recovery and margin improvement [1] Group 1: Upgrade Factors - The new management team under CEO Elliott Hill is focusing on quality over quick fixes, which is expected to benefit Nike in the long term [2] - The repositioning of the digital channel as a full-price channel is highlighted as a positive change [2] - After two quarters of inventory clean-up, the brand assortment is expected to be current and exciting, despite challenges with the Dunk line [2] Group 2: Financial Performance - Nike's stock surged 12% in after-hours trading following the earnings call, despite mixed results [3] - The company reported earnings per share of 14 cents, slightly above estimates, while sales declined 12% to $11.1 billion [3] - Net income fell 86% to $211 million from $1.5 billion in the previous year [3] Group 3: Challenges and Outlook - Nike faces headwinds from new tariffs on Chinese goods, expecting a $1 billion impact in fiscal 2026 [4] - Currently, 16% of Nike's supply chain runs through China, with plans to reduce this to high single digits by next summer as part of the 'Win Now' strategy [4] - HSBC's price target of $80 indicates a 28% upside from Nike's current trading price of $62.54, despite a year-to-date decline of 17.35% prior to the recent rally [4]

Core Viewpoint - Broadcom has received an upgrade from HSBC, indicating strong confidence from Wall Street, with a new price target of $400, suggesting a 52% upside potential [1][4]. Company Summary - Broadcom's stock price increased over 3% following the upgrade, reaching $263, and has seen a year-to-date gain of more than 13% [1][3]. - The upgrade is driven by surging demand for application-specific integrated circuits (ASICs), particularly due to the growth in artificial intelligence workloads [3][4]. Industry Summary - HSBC has significantly revised revenue estimates for Broadcom's ASIC business, projecting revenues of $28.4 billion in FY26 and $42.8 billion in FY27, representing increases of 58% and 96% from previous forecasts [4][6]. - The share of capital expenditure allocated to ASICs is expected to rise from 2% in FY23 to 14% by FY27, indicating a shift towards AI-accelerated infrastructure [5][6]. - Broadcom's strong pricing power is highlighted, with an expected average selling price (ASP) growth of 92% year-over-year in FY26, followed by an additional 25% increase in FY27 [5][6].

Jonathan Ferro, Lisa Abramowicz and Annmarie Hordern speak daily with leaders and decision makers from Wall Street to Washington and beyond. No other program better positions investors and executives for the trading day. 00:00:00 Bloomberg Surveillance 00:08:56 Max Kettner, HSBC 00:18:57 Jon Lieber, US Eurasia Group 00:25:20 Morning Movers 00:26:37 On Our Radar 00:33:03 Steven Cook, CFR 00:44:53 Robert Tipp, PGIM Fixed Income 00:57:55 Aaron Kennon, Clear Harbor Asset Management 01:05:46 Norman Roule, Former ...

Investment Rating - Xiaomi is rated as a Buy, with a target price increased to HK$62 [1] - Mitsubishi Electric is also rated as a Buy, with a target price of ¥3,600 [5] - JD Logistics is rated as a Buy, with a target price of HK$17.60 [5] - Emami is rated as a Buy, with a target price of Rs 830 [6] Core Insights - Xiaomi's strong AIoT sales are expected to drive higher profits in 1Q25, with a projected revenue CAGR of 25% from 2024 to 2027 [1][9] - The company is set to unveil significant products during its 15th anniversary event, including its first in-house SoC, the XRING O1 chip, and new premium smartphone models [1] - The easing of US/China tariff tensions has led to raised earnings forecasts across Asia, with an expected 8% USD price return over the next 12 months [2] - Hong Kong banks have revised EPS estimates for FY25-27E by -3% to +3%, reflecting updated HIBOR and income growth [2] - Mitsubishi Electric is shifting away from conservative financial discipline and will disclose ROIC by business at its upcoming IR Day [5] - JD Logistics aims for double-digit revenue growth and mid-single-digit profit growth in 2025, focusing on emerging e-commerce platforms [5] - Emami's revenue increased by 8.1% YoY in 4QFY25, with expectations for double-digit growth in FY26 [6] Summary by Sections Xiaomi - Strong operating metrics for smartphone and AIoT segments in 1Q25 [1] - Anticipated product launches include the XRING O1 chip and new EV model [1] Hong Kong Banks - EPS estimates revised by -3% to +3% for local banks [2] - HSBC remains the sole Buy rating due to its diversification [4] Mitsubishi Electric - Focus on balance sheet reforms and ROIC management [5] - Upcoming IR Day to provide details on business portfolio reforms [5] JD Logistics - Strategic balance between revenue and profit growth for 2025 [5] - Notable focus on international business contributions from Asia [5] Emami - Consistent revenue performance with potential for re-rating [6] - Core domestic revenue growth of 8% in FY25, outperforming the FMCG sector [6]

Core Insights - LivePerson has been recognized as a Leader in multiple categories by G2, including AI Agents, Chatbots, Conversational Marketing, Bot Platforms, Live Chat, and Customer Self-Service, based on real customer reviews [1][2][3] Company Overview - LivePerson (NASDAQ: LPSN) is a prominent provider of enterprise conversational AI and digital transformation solutions, serving major brands like HSBC, Chipotle, and Virgin Media [5] - The company facilitates nearly a billion conversational interactions monthly, leveraging rich data analytics and safety tools to enhance business outcomes [5] Recognition and Achievements - The Leader designation from G2 is awarded to vendors that consistently receive high ratings from users and demonstrate significant market presence [2] - LivePerson's CEO, John Sabino, expressed pride in the recognition, highlighting the company's commitment to delivering connected and personalized experiences [3] Product Offerings - LivePerson's solutions include AI Agents, Chatbots, Conversational Marketing, Bot Platforms, Live Chat, and Customer Self-Service, which enable businesses to engage with customers in a human-like manner [7]

British banking giant HSBC fired a group of investment bankers on the day they were set to learn the size of their bonuses — and denied giving them their annual payout, according to a report.The London-headquartered lender axed financiers in London and Hong Kong last month after announcing it would focus its M&A and capital markets work in Asia and the Middle East, the Financial Times reported.However, ruthless bosses told the canned bankers that they would be booted without their 2024 windfall, sources tol ...