HSBC Global Research Prefers BOCHK among HK Banks, Favors HKEX
Hong Kong banks' NIM is likely to have expanded sharply over the second half of 2022, and has sustained such elevated level so far in 2023, $HSBC HOLDINGS(00005.HK$ Global Research said in a research report.
The local banking sector should be propelled by the recuperating domestic economic confidence and border reopening between Hong Kong and Mainland China, the broker added. Fee income was anticipated to hail upside this year, owing to the increase in capital market activities amid the improving risk appetite.
HSBC Global Research preferred BOC HONG KONG $BOC HONG KONG(02388.HK$ among Hong Kong banking stocks, and maintained the target price for the stock at $34, with a Buy rating. HKEX $HKEX(00388.HK$ was also favored. The target price for the stock was kept at $398, with a Buy rating.
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