0005.HK - HSBC Holdings plc
| Previous Close | 65.100 |
| Open | 65.100 |
| Bid | 64.950 x 0 |
| Ask | 64.950 x 0 |
| Day's Range | 64.800 - 65.300 |
| 52 Week Range | 60.350 - 75.400 |
| Volume | 6,980,029 |
| Avg. Volume | 13,492,687 |
| Market Cap | 1.329T |
| Beta (3Y Monthly) | 0.70 |
| PE Ratio (TTM) | 13.17 |
| EPS (TTM) | 4.935 |
| Earnings Date | N/A |
| Forward Dividend & Yield | 3.13 (4.80%) |
| Ex-Dividend Date | 2019-05-16 |
| 1y Target Est | 10.07 |
- Reuters•12 hours ago
UPDATE 2-WeWork to lease 21-storey Singapore office tower after HSBC moves out
WeWork Cos will lease a 21-storey building in Singapore's prime financial district that is currently leased to HSBC, marking an expansion by the U.S. co-working space provider in Asia. WeWork, backed by Japan's SoftBank Group, will lease the building from CapitaLand Commercial Trust (CCT) , the Singaporean office landlord said in a statement. The tower, 21 Collyer Quay, will be WeWork's biggest property in the Southeast Asian nation and has a net lettable area of about 200,000 square feet.
- Financial Times•6 days ago
HSBC extends debt collection compensation scheme
HSBC is extending a compensation scheme for customers who were charged “unreasonable” debt collection fees after finding the issue may have affected almost four times more people than originally thought. HSBC initially estimated that about 6,700 borrowers could be entitled to redress, but on Thursday said it would write to an additional 18,500 customers who had not previously been contacted. HSBC said the new customers were found after a “broader and more complex investigation of third-party records”.
- Motley Fool•7 days ago
4 Hong Kong-Listed Dividend Stocks That Yield Over 4%
Here are four dividend stocks, with exposure to China, that could supercharge your portfolio while providing a steady stream of income.
- GuruFocus.com•8 days ago
Weather Gauge Advisory, LLC Buys HSBC Holdings PLC, Sells Encana Corp
Investment company Weather Gauge Advisory, LLC buys HSBC Holdings PLC, sells Encana Corp during the 3-months ended 2019Q2, according to the most recent filings of the investment company, Weather Gauge Advisory, LLC.
- Financial Times•9 days ago
HSBC replaces US chief executive with Citi veteran
HSBC is replacing the chief executive of its US operation with a veteran of rival bank Citigroup as the lender tries to turn the struggling business round. The London-headquartered bank said Patrick Burke, 57, who has worked for HSBC since 1989, would retire as chief executive of HSBC USA in October and be replaced by Michael Roberts, an executive who has worked at Citi since 1986. Mr Burke’s exit comes as HSBC attempts to revive its US business, which has been a major drag on profitability for years.
- Motley Fool•13 days ago
Better Buy: HSBC Holdings vs. Bank of China
Banking giants HSBC and Bank of China are two of the largest listed stocks in Hong Kong. But which one should investors go for?
- ACCESSWIRE•15 days ago
HSBC Bank plc Announces Post Stabilisation Notice
LONDON / ACCESSWIRE / July 2, 2019 / HSBC (contact: Syndicate desk, telephone: +44 207 992 8066) hereby gives notice that no stabilisation (within the meaning of the rules of the Financial Conduct Authority) ...
- Reuters•20 days ago
StanChart, HSBC sharpen EU focus to help clients cut path through Brexit, red tape
Just as Britain moves to sever its ties with the European Union, two of its biggest banks, HSBC and Standard Chartered, are building up their operations in the bloc in a bid to win more business helping clients grappling with red tape and Brexit. HSBC this month launched an internal 'Europe Means Business' campaign aimed at building internal awareness of its capabilities in the region and prompting staff to pitch the Asia-focused bank's abilities to clients in other markets. Meanwhile StanChart has in the last year and a half increased its staff in Frankfurt from 90 to 200, its head of corporate and institutional banking Simon Cooper said.
- Bloomberg•21 days ago
Hong Kong Pension System Charges Premiums for Cheap Index Funds
(Bloomberg) -- Hong Kong’s pension system has left savers paying fees for stock-index funds that are a multiple of those investors can get in the open market, contributing to a crisis of poor retirement preparation for millions of workers.Take the biggest fund run by HSBC Holdings Plc that tracks the Hang Seng Index. With HK$35.5 billion ($4.5 billion) in assets, it’s the largest in Hong Kong’s Mandatory Provident Fund system. Savers pay an annual fee of 0.80%, compared with the 0.09% cost of an exchange-traded fund that tracks the same index. And HSBC’s offering is one of the lowest-cost available.The extra amounts go to pay for everything from the marketing of the fund and the administrative paperwork to the compensation of the fund managers and any profits logged by the providers. Compounded over time, the fees leave performance well below those of the underlying indexes.“It’s a drip, drip, drip effect,” said David Webb, a former Hong Kong Exchanges & Clearing Ltd. board member who advocates overhauling the city’s retirement program to let savers have self-managed brokerage accounts. “There would be a bit more outrage if people realized how much of the returns on their savings have vanished in expenses.”The HSBC fund lagged behind the Hang Seng Index by some 25 percentage points over the past decade, a gap that Charlene Hui, a spokeswoman for HSBC, said was due to the fees for managing the MPF fund. The Tracker Fund of Hong Kong, the city’s most heavily traded ETF, underperfomed the index by about 8 percentage points.“One cannot directly compare the fees of retail tracking funds with MPF tracking funds,” Hui said in an email. She also said the fees for the funds the bank offers through the pension program have been lowered on seven occasions over time.One challenge with Hong Kong’s system, which covers about 4 million workers and involves compulsory payments by employees and their employers, is mandatory contributions are set relatively low -- at HK$36,000 a year for most people. That’s left the funds with smaller pots across which to spread administrative costs. Obligatory contributions in Singapore’s system are more than four times higher, a government-chartered review said in February.‘Not Enough’High fees are also one reason individuals have largely avoided putting in more than they’re required, according to the review by the Hong Kong Financial Services Development Council. The study concluded that MPF assets are “not enough for Hong Kong people’s retirements.”Lower fees certainly would help.A worker who made the mandatory contribution every month into the HSBC fund since it launched in 2000 would have about HK$1.3 million net of fees, according to calculations by Bloomberg. That’s about HK$184,000 less than an investor in the Tracker Fund of Hong Kong, before transaction costs.The average pension product marketed as a Hang Seng Index tracker in the MPF system -- there are more than a dozen -- has an expense ratio of 0.89%, according to data from the MPF Authority. That’s lower than the 1.52% charged by the average fund in the system, which spans actively managed equity funds as well as bond, money market and balanced funds -- all of them dedicated offerings for the MPF that aren’t open to investment for other purposes. Average expenses for all the funds have fallen by half a percentage point since 2007, according to the authority.Three of the Biggest Index TrackersThe fund offered by Manulife Financial Corp. is “priced competitively among the MPF universe,” said Jacqueline Kam, a spokeswoman for the company in Hong Hong.BCT, or Bank Consortium Trust -- a pension provider set up by a number of local banks -- has proactively reduced fees “from time to time,” spokeswoman Stella Wong said. “MPF products are required to meet substantially more regulatory requirements.”The MPF Authority said in a statement that it “understands the concern of the public over the cost of MPF and has never turned a blind eye to the issue.” It said it has no statutory power to regulate fees.What the MPF Authority did do in April was launch an online platform aiming to let savers easily compare costs. And it is digitizing systems to cut expenses. There are up to 100,000 paper-based transactions a day, a Legislative Council document showed last December.Fees have been an issue in other countries’ retirement-savings programs as well. In the U.S., excessive index fund fees in retirement plans have been the subject of lawsuits in recent years, and a number of companies have reached settlements over accusations of unreasonable costs and poor fund selections. In Australia, too, retirement accounts known as superannuation funds have been the subject of lawsuits over fees, and a government-commissioned review in January concluded there were structural flaws.Cost LayerIn Hong Kong, complying with administrative work required by the MPF authority “adds an additional layer of cost and complexity with no clear benefit” compared with a system like the U.S. 401(k), said Tariq Dennison, co-founder of GFM Asset Management, which provides retirement advisory services to high-net worth individuals in the city.Still, the MPF system has its benefits for people without financial expertise -- including a lack of entry or exit fees, or the costs associated with setting up a brokerage account, said Francis Chung, executive chairman of MPF Ratings, which consults with employers on retirement obligations and analyzes fund performance. Financial investments in Hong Kong are relatively expensive, and the MPF can be a better deal than other products such as life insurance, he said.What could help drive savers to advocate for lower fees is greater transparency. Chris Tse, a former chairman of the Institute of Financial Planners of Hong Kong, said the MPF Authority could do more to strengthen disclosure.MPF account holders “do not have any knowledge about the relative performance of index tracking constituent funds without knowing the tracking errors or difference against the index benchmark,” Tse said.\--With assistance from Yusuke Takeshita.To contact the reporter on this story: Gregor Stuart Hunter in Hong Kong at ghunter21@bloomberg.netTo contact the editors responsible for this story: Christopher Anstey at canstey@bloomberg.net, Cormac MullenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Reuters•23 days ago
HSBC-backed startup aims to become LinkedIn of global trade
In a first of its kind initiative, HSBC Holdings Plc is backing the launch of a technology startup that aims to connect small-and-medium-sized manufacturers with component suppliers in different parts of the world as part of its trade banking push. Hong Kong-based Serai, which is a wholly-owned subsidiary of Europe's biggest bank by assets, started formal operations last week, and is part of HSBC Chief Executive John Flint's plan to invest $15-$17 billion by 2020 on technology to boost growth. "So, if you have got Facebook for your personal network, LinkedIn for your professional network, Serai is for your company," said Ramachandran, who previously worked at HSBC's commercial banking unit for more than three years.
- Reuters•27 days ago
Exclusive: HSBC lands top adviser role in Qatar for first time since Gulf row - sources
DUBAI/DOHA (Reuters) - HSBC has been hired by Qatari state-controlled port operator QTerminals to coordinate a planned $500 million loan, sources said, the bank's first mandate as top adviser for a deal in Qatar since a row erupted between Doha and its neighbours. London-listed HSBC, along with other banks, was caught up in Qatar's dispute with Saudi Arabia, United Arab Emirates, Bahrain and Egypt, which in 2017 cut diplomatic and transport ties with Qatar, accusing it of financing terrorism, a charge Doha denies. "With regards to HSBC, no international financing agreements have been concluded to date.
- Moody's•28 days ago
Grupo Financiero HSBC, S.A. de C.V. -- Moody's maintains unchanged the Baa1 and Aa1.mx ratings for HSBC México's reopening of certificados bursátiles; positive outlook
Moody's de México ("Moody's") has today announced that the long-term senior unsecured debt ratings of Aa1.mx in the Mexican national scale and Baa1 in the global scale of HSBC México, S.A., Institución de Banca Múltiple, Grupo Financiero HSBC's (HSBC México) first reopening of its first (HSBC 19) and second (HSBC 19D) issuances of Certificados Bursátiles Bancarios (cebures) remain unchanged.
- South China Morning Post•28 days ago
HSBC's scrapping of minimum balance fee for Hong Kong clients may prompt rivals to follow as they brace for competition with virtual banks
HSBC is to scrap the minimum balance fee that applies to 3 million customers in Hong Kong in a move likely to be followed by other big lenders as they brace for fierce competition from a wave of virtual banks due to come online later in the year.The monthly charge of HK$50 for small depositors with a passbook savings account and other basic accounts with a balance below HK$5,000 (US$640), has long been viewed as a penalty on some of the bank's most loyal customers. It was introduced 18 years ago.HSBC said on Wednesday that from August 1, it will be the first bank in Hong Kong to go back to providing free basic banking services to roughly 3 million retail customers who hold its passbook accounts, statement accounts, personal and advance integrated accounts, and super ease accounts. It will also get rid of associated charges faced by small depositors, like counter transaction fees."More than 3 million retail banking customers will benefit from the removal of our below-balance fees, counter transaction fees and annual fees for most our personal savings accounts," said Greg Hingston, HSBC's head of retail banking and wealth management in Hong Kong. "This is a key step in reinforcing HSBC's commitment, as Hong Kong's leading bank, to promoting financial inclusion and making banking easy for customers from all backgrounds." Hong Kong hands out first three virtual banking licencesThe fee abolition will also apply to the popular HSBC Advance accounts, which currently charge HK$120 a month if the total deposit and trading volume falls below HK$200,000 (US$25,550)."HSBC's decision to cancel the minimum balance [fee] is related to the fact that there will be eight new virtual banks set up in Hong Kong in the fourth quarter of this year," said Ben Kwong Man-bun, a director of brokerage KGI Asia. "HSBC needs to act now to persuade its millions of customers to stay on or many of them may opt for joining the virtual banks which do not charge a fee for small depositors." Hong Kong virtual bank among Standard Chartered's digital betsHong Kong Monetary Authority (HKMA), the city's de facto central bank, has issued eight virtual bank licences since March. The lenders do not have a branch network, operating purely online.The virtual banks are barred from charging a minimum balance fee to small depositors, and this is likely to be a selling point to lure customers."The competition will be keen when the eight virtual banks start operations. Other traditional banks are likely to follow [HSBC] and make similar moves too," Kwong said. "HSBC's young and tech-savvy customers who get used to getting everything free of charge online would not like to pay the minimum balance fee. Scrapping the minimum fee is a smart move for HSBC to keep its young customers." Hong Kong's appeal as a virtual banking hub is about to be put to the testHang Seng Bank, a unit of HSBC, is also considering a plan to scrap its minimum-balance fee, according to a spokesperson.The move was lauded by the HKMA, as it brings greater convenience and benefit to the broader public, said the monetary authority's spokesperson.Hong Kong's retail banks had supported a service charter promoted by the HKMA to remove minimum service charges for disadvantaged customers, the spokesperson said."Banks should draw up their fees structures in accordance with their own corporate strategies, service models and costs," the spokesperson said. "However, the HKMA has constantly reminded banks to keep in mind the public's expectations and needs in basic banking even while they run their banks based on business principles."HSBC said in a statement that the fee scrapping was aimed at providing "simpler and cheaper" banking services to meet with "customers' diversified banking needs" at different stages of their lives. An online survey indicates that Hong Kong bank customers use on average five different types of banking products.The eight newly licensed virtual banks include two joint ventures separately led by the city's two note-issuing banks " Bank of China (Hong Kong) and Standard Chartered Bank.They also include a joint venture led by China's first online insurer, ZhongAn Online P&C; a Xiaomi-AMTD Group venture called Insight fintech, and the Infinium consortium that includes Tencent Holdings, ICBC (Asia), and Hong Kong Exchanges and Clearing (HKEX).The other three are home-grown unicorn WeLab; mainland China's second largest life insurer Ping An Insurance's subsidiary Ping An OneConnect, and Ant Financial Services' Ant SME Service.This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2019 South China Morning Post Publishers Ltd. All rights reserved. Copyright (c) 2019. South China Morning Post Publishers Ltd. All rights reserved.
- Moody's•29 days ago
Odea Bank A.S. -- Moody's downgrades 18 Turkish banks; outlooks remain negative
Rating Action: Moody's downgrades 18 Turkish banks; outlooks remain negative. Global Credit Research- 18 Jun 2019. London, 18 June 2019-- Moody's Investors Service has today downgraded 18 banks in Turkey....
- Moody's•29 days ago
Saudi British Bank -- Moody's affirms deposit ratings of Saudi British Bank, upgrades and withdraws Alawwal Bank deposit ratings
Moody's Investors Service ("Moody's") has today affirmed the long and short-term local and foreign currency deposit ratings of Saudi British Bank (SABB) at A1/P-1, and upgraded the long and short-term local and foreign currency deposit ratings of Alawwal Bank (Alawwal) to A1/P-1 from A3/P-2. At the same time, Moody's has also affirmed the baseline credit assessment (BCA) of SABB at a3.
- Reuters•last month
HSBC opens in Apple's hometown, promises 50 new U.S. branches
HSBC, which makes more than 80% of its profit in Asia, last month revealed plans to boost its Asia retail wealth management staff by about 300 by end of this year. HSBC Bank USA said it would also hire more than 300 employees as part of the expansion of its national retail branch network that would add up to 50 branches in new and existing markets. "HSBC is optimising its existing network to right-size and grow its business as well as expand its footprint into new and existing markets that provide attractive opportunities to grow its customer base," the London-based bank said.
- Reuters•last month
UPDATE 2-HSBC opens in Apple's home town, plans 50 new U.S. branches
The U.S. arm of HSBC Holdings Plc announced plans on Monday to expand its branch network by around a quarter as it opened a new location in Apple Inc's home town of Cupertino, California. The move by Europe's biggest lender by assets comes as it plans a broader strategic shift to try to improve performance in the United States at a time when many lenders are retrenching. HSBC, which makes more than 80% of its profit in Asia, last month announced plans to boost its Asia retail wealth management staff by about 300 by end of this year.
- Reuters•last month
Banking gains prod European shares higher
- Moody's•last month
HSBC Bank Canada -- Moody's affirms HSBC Bank Canada's A3 long-term deposit and issuer ratings; maintains stable outlook
Moody's Investors Service ("Moody's") has today affirmed the A3 long-term issuer and deposit ratings of HSBC Bank Canada (HBC). The rating agency has also affirmed HBC's standalone baseline credit assessment (BCA) of baa3, the adjusted BCA of a3, and the local and foreign currency long- and short-term Counterparty Risk Ratings (CRR) of A2 and Prime-1, respectively.
