HSI Reverts Up 87 pts by Midday; LENOVO, WUXI Series Each Up 4%+; Z.AI Slumps 7%+; BEA/ BOCHK/ STANCHART Hit 52-Wk Highs
AASTOCKS News·- The HSI reverted up 87 pts to close at 24,893 by midday with a turnover of HKD 107.018 billion, while the HSCEI and HSTECH gained 33 pts and 7 pts respectively. - Major sector movements included Z.AI slumping 7.25% following massive fundraising, Lenovo spiking 4.6% after ranking first globally in quarterly x86 server shipments, and SBP Group soaring 3.52% on a stake acquisition. - Hong Kong financial stocks performed strongly, with Bank of East Asia, BOC Hong Kong, and Standard Chartered all hitting 52-week highs intraday.JPM: HK Banks' 1H26 Results Beat; Sees Room for EPS Forecast Upgrades
AASTOCKS News·- JPM reported that Hong Kong banks' 1H26 results beat expectations, with covered banks recording an average profit growth of 33% YoY, primarily driven by non-interest income and resilient pre-provision operating profit. - Despite QoQ net interest margin contraction from lower Hong Kong Interbank Offered Rates, balance sheet expansion is expected to support single-digit net interest income growth over the next 12-18 months. - The broker maintains an Overweight stance on the sector with room for EPS forecast upgrades, ranking large banks as STANCHART, HSBC HOLDINGS, and BOC HONG KONG respectively.BOC Hong Kong rises 2% to record high on strong H1 earnings
HK Stock Market Update·BOC Hong Kong hits record high as brokers reiterate buy ratings
HK Stock Market Update·