$HSBC
HSBC Holdings plc
PRICE
$31.27 ▼-0.446%
Extented Hours
VOLUME
2,550,256
DAY RANGE
30.41 - 30.98
52 WEEK
23.63 - 37.53
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By Peter Nurse Investing.com - European stock markets are expected to open higher Tuesday, starting the new month on a positive note as investors await more corporate earnings and the prospect of key central banks tightening monetary policy. At 2 AM ET (0600 GMT), the DAX futures contract in Germany traded 0.6% higher, CAC 40 futures in France climbed 0.6%, and the FTSE 100 futures contract in the U.K. rose 0.6%. European equity markets are trying to shake off a weak showing in April, with the major indices weighed by concerns about economic growth slowing, rising inflation, and Russia’s ongoing war in Ukraine. A lot of attention will be on central banks this week as a number hold policy-setting meetings that could determine market sentiment for weeks to come. The Reserve Bank of Australia started the ball rolling earlier Tuesday, raising its main cash rate by 25 basis points to 0.35%, its first hike in more than a decade, as the central bank began withdrawing its extraordinary monetary support. The Federal Reserve starts its two-day later Tuesday, and is expected to raise rates by a half-point when it hands down its policy decision on Wednesday. The Fed raised its policy interest rate by 25 basis points in March and is soon likely to begin asset trimming, as it tightens its monetary policy. The Bank of England will also hand down its policy decision on Thursday, and is expected to raise interest rates to their highest level in 13 years. In the corporate sector, HSBC (LON:HSBA) is likely to be in focus after its largest shareholder, Chinese insurance giant Ping An (OTC:PNGAY), called for a break-up of the U.K.-headquartered bank, one of Europe’s largest. Logitech (NASDAQ:LOGI) reported a 20% drop in sales for its fourth quarter, and the computer hardware manufacturer reduced its fiscal year 2023 outlook, removing the estimate of annual sales and profits that would have been generated in Ukraine and Russia. Elsewhere, German unemployment data for April are due later in the session along with the March Eurozone PPI release. Oil prices edged lower Tuesday but remained elevated as the European Union is expected to firm up plans to tighten sanctions on Russia this week, potentially agreeing an embargo on Moscow’s oil. There has been disagreement within the bloc over whether to take this next step, but expectations are rising with Germany, the union’s largest economy and de facto leader, saying it was prepared to back an immediate embargo. A deal could include exceptions for Hungary and Slovakia, both heavily dependent on Russian oil imports. U.S. inventory data for the week ended April 29 from the American Petroleum Institute industry group are due later in the session, as a precursor for government data from the Energy Information Administration on Wednesday. By 2 AM ET, U.S. crude futures traded 0.2% lower at $104.95 a barrel, while the Brent contract fell 0.3% to $107.30. Additionally, gold futures fell 0.1% to $1,860.99/oz, while EUR/USD traded 0.1% higher at 1.0507.
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European Stock Futures Higher; HSBC Linked With Breakup
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By Stella Qiu and Tom Westbrook BEIJING (Reuters) - Asian shares wobbled on Friday and the Chinese yuan slid as investors fretted about an increasingly aggressive rate-hike outlook for the United States, and the fallout for the global economy from lockdowns in China. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.7% and touched a five-week low, weighed down by a 1.6% loss for Australia's resource-heavy index and a 0.8% drop in South Korean shares. Japan's Nikkei declined 1.6%. The European open is also looking weak, with EuroSTOXX 50 futures down 1.6% and FTSE futures down 1.2%. S&P 500 futures are down 0.1%. Chinese stocks staged a recovery in volatile trade, with the mainland's bluechips reversing early loses to gain 1% on hopes for policy support, but the currency remains under pressure as lockdowns in Shanghai take a bite out of growth. The yuan hit a seven-month low and is on course for its worst week since 2019. Analysts at HSBC expect a comprehensive easing package on all fronts, both monetary and fiscal, from China is needed, including loosening measures in the property sector, which has been hit hard by restrictions on access to credit. "The next key focus will be the China PMI data next week," said Jingyang Chen, a currency analyst at HSBC in Hong Kong, where a negative surprise could drive the yuan lower still. "High frequency data in April has suggested severe supply chain disruptions caused by the virus containment measures in the Yangtze River Delta region, which accounts for almost a quarter of China's GDP." Tech shares in Hong Kong were supported by signs of progress in resolving audit issues that have called into question the U.S. listings of Chinese firms, but rates worries kept most other asset classes on edge. U.S. RATE HIKES On Thursday, U.S. Federal Reserve Chairman Jerome Powell said a half-point interest rate increase will be "on the table" when the Fed meets in May, adding it would be appropriate to "be moving a little more quickly." His remarks effectively confirmed market expectations of at least another half-percentage-point rate hike from the Fed next month, and Nomura now expects 75 basis point hikes at its June and July meetings, which would be the biggest of that size since 1994. Selling pressure persisted in bond markets, driving five-year U.S. Treasury yields to 3.04%, the highest late 2018, and two-year yields to a new high of 2.7620%. [US/] Elsewhere, markets were still reeling from comments by European Central Bank officials that the central bank might start hiking euro zone rates as early as July. German two-year yields hit an eight-year high on Thursday. In currency markets the yen steadied on talk of joint Japan-U.S. FX intervention, while the euro has given up Thursday's bounce as nerves about Sunday's French presidential election creep in. The yen last traded at 127.82 per dollar and the euro at $1.0848. Dollar gains drove the Australian and New Zealand dollars to multi-week lows. [FRX/] Oil prices fell on Friday, burdened by the prospect of interest rate hikes, weaker global growth and COVID-19 lockdowns in China hurting demand. Brent crude futures were down $1.30, or 1.2%, at $107.03 a barrel, while U.S. West Texas Intermediate (WTI) crude futures declined $1.27, or 1.2%, to $102.52. The looming U.S. rate hikes have weighed on gold. Spot gold was last down 0.02% to $1,951.32 per ounce. Wall Street indexes fell on Thursday, with the S&P 500 down 1.5% and the Nasdaq down 2%.
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Sky Mavis Raises USD 150M, HSBC & Metaverse, BitPay Adds Bitcoin Lightning Network + More News https://cryptonews.com/news/sky-mavis-raises-usd-150m-hsbc-metaverse-bitpay-adds-bitcoin-lightning-network-more-news.htm
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HSBC debuts metaverse investment fund in Asia: Report https://cointelegraph.com/news/hsbc-debuts-metaverse-investment-fund-in-asia-report
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HSBC Starts Metaverse Fund for Private Banking Clients in Asia https://www.coindesk.com/business/2022/04/06/hsbc-starts-metaverse-fund-for-private-banking-clients-in-asia/?utm_medium=referral&utm_source=rss&utm_campaign=headlines
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HSBC enters The Sandbox to offer educational finance games https://cointelegraph.com/news/hsbc-enters-the-sandbox-to-offer-educational-finance-games
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Metaverse Banking: HSBC Enters The Sandbox as JPMorgan Tests Decentraland https://cryptonews.com/news/metaverse-banking-hsbc-enters-sandbox-as-jpmorgan-tests-decentraland.htm
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HSBC Enters the Metaverse Through Partnership With The Sandbox
https://www.coindesk.com/business/2022/03/16/hsbc-enters-the-metaverse-through-partnership-with-the-sandbox/&utm_source=rss&utm_campaign=headlines
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By Emily Chow and Florence Tan BEIJING (Reuters) -Oil prices surged, with Brent breaching $100 a barrel for the first time since 2014 on Thursday as Russia attacked Ukraine, exacerbating concerns that a war in Europe could disrupt global energy supplies. After Russian President Vladimir Putin authorised what he called a special military operation, Ukraine's Foreign Minister Dmytro Kuleba said in a tweet that Russia had launched a full-scale invasion of Ukraine and was targeting cities with weapons strikes. Brent crude hit a high of $102.48 a barrel, the loftiest since September 2014, and was at $102.06 a barrel at 0547 GMT, up $5.22, or 5.4%. U.S. West Texas Intermediate (WTI) crude futures jumped $4.85, or 5.3%, to $96.95 a barrel, after rising to as much as $97.40, the highest since August 2014. Oil prices have surged more than $20 a barrel since the start of 2022 on fears that the United States and Europe would impose sanctions on Russia's energy sector, disrupting supplies. Russia is the world's second-largest oil producer, mainly selling its crude to European refineries, and is the largest supplier of natural gas to Europe, providing about 35% of the latter's supply. "Russia's announcement of a special military operation into Ukraine has pushed Brent to the $100/bbl mark," said Warren Patterson, head of ING's commodity research. "This growing uncertainty during a time when the oil market is already tight does leave it vulnerable, and so prices are likely to remain volatile and elevated," he added. Western nations and Japan on Tuesday punished Russia with new sanctions for ordering troops into separatist regions of eastern Ukraine, and threatened to go further if Moscow launched an all-out invasion of its neighbour. So far, there are no sanctions on energy trade. "It's not just geopolitical risk that is the problem but the further straining of supply," OCBC economist Howie Lee said. "Russian oil supply will disappear overnight if faced with sanctions ... and OPEC can't produce fast enough to cover this gaping hole." Some members of the Organization of the Petroleum Exporting Countries (OPEC) said there is no need for the group and its allies to increase output further as a potential deal between Iran and world powers will increase supplies. Some OPEC members are already struggling to meet current targets.[OPEC/O] Japan and Australia said on Thursday they were prepared to tap their oil reserves, together with other International Energy Agency (IEA) member countries, if global supplies were hit by hostilities in Ukraine. Analysts are also warning of inflationary pressure on the global economy from $100 oil, especially for Asia, which imports most of its energy needs. "Soaring oil prices come at an especially difficult time," HSBC economist Frederic Neumann said. "Asia's Achilles heel remains its vast import needs for energy, with surging oil prices bound to take a hefty bite out of income and growth over the coming year." The U.S. and Iran have been engaged in indirect nuclear talks in Vienna, in which a deal could lead to the removal of sanctions on Iranian oil sales and increase global supply. Iran on Wednesday however urged Western powers to be "realistic" in talks to revive the 2015 nuclear deal, and said its top negotiator was returning to Tehran for consultations, suggesting a breakthrough in its discussions is not imminent. Additionally, U.S. crude stockpiles rose 6 million barrels last week while distillate stocks fell, according to market sources who were citing American Petroleum Institute figures late on Tuesday. Ahead of government data on Thursday, analysts forecast a 400,000-barrel build in crude and a drawdown in fuel stockpiles. [EIA/S] Gasoline inventories rose by 427,000 barrels and distillates stockpiles fell by 985,000 barrels, the API data showed according to the sources, who spoke on condition of anonymity.
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HSBC and IBM create successful multi-ledger CBDC demo https://cointelegraph.com/news/hsbc-and-ibm-create-successful-multi-ledger-cbdc-demo
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By Marc Jones LONDON (Reuters) - World stocks marched back towards record highs on Thursday as surging inflation saw Britain and Norway hike interest rates and the ECB trim its super-sized bond buying programme a day after the U.S. Federal Reserve had accelerated its withdrawal. It was a jam-packed day. Turkey's lira took another bashing as its own central bank ploughed on with rate cuts. Omicron numbers were rocketing globally too, but for once this was not infecting the markets. The pan-European STOXX 600 index jumped 1.5%, led by tech, energy stocks. Record high Wall Street was also set to rise again [.N], while sterling and UK bank shares bother shot up after the BOE ended months of flirting with the idea and became the first G7 central back to hike rates, albeit by only 0.1%. Hussain Mehdi, Macro and Investment Strategist, HSBC Asset Management, said the 8-1 vote by BOE policymakers to raise rates was "fairly surprising" given the current surge in Omicron cases although there were solid reasons to do so. "The labour market is tight, and Omicron has the potential to exacerbate supply-side constraints in goods and labour," Mehdi said. "Ongoing upside inflation risks are likely to push the MPC (BOE) into further action in 2022." The Fed had laid out a scenario in which the pandemic, despite the Omicron surge, gives way to a benign set of economic conditions, with inflation easing largely on its own, interest rates increasing slowly, and unemployment staying low. "The economy no longer needs increasing amounts of policy support," Fed Chair Jerome Powell had said. "If the Fed moves (hikes interest rates next year), it will be okay as long as there is growth," said Barrow Hanley's Head of International Equities Rand Wrighton, referring to bets U.S. rates could go up three times before the end of 2022. Attention then turned to the ECB in Frankfurt which is also trying to balance support of a virus-threaten economy with the need to cut money printing to cool price rises. It said it would cut its bond purchases under its 1.85 trillion euro Pandemic Emergency Purchase Programme (PEPP) next quarter and wind down the scheme by March in a long-flagged move. It will, however, keeping reinvesting PEPP profits until the end of 2024 and ramp up the longer-running but more rigid Asset Purchase Programme (APP) to limit the withdrawal effects. "On balance, the new approach to quantitative easing (QE) is slightly dovish," Gurpreet Gill, Macro Strategist, Global Fixed Income, at Goldman Sachs (NYSE:GS) Asset Management, said. TURBULENT TURKEY Earlier Norway's central bank had also raised its main interest rate for the second time in three months and said more were likely, whereas the Swiss National Bank kept its rates locked at -0.75%. Sterling raced past $1.33 after the BOE's hike move having peaked for the year back in May at $1.4250. Shares in Britain's big banks like Barclays (LON:BARC) and Lloyds (LON:LLOY) jumped 5% on the presumption that they will now be able to push up lending rates. The euro was soft peddling at just below $1.13 after forward-looking euro zone purchasing manager data had come in weaker than expected earlier. Europe is facing a fourth wave of infections and many governments have been encouraging citizens to stay home and avoid unnecessary social contact. IHS Markit's Flash Composite Purchasing Managers' Index, a good indicator of overall economic health, dropped to 53.4 in December from 55.4 in November, its lowest since March and below the 54.0 predicted in a Reuters poll. That headline number was dragged down by the services PMI, which sank to an eight-month low of 53.3 from 55.9. While above the 50-mark separating growth from contraction it missed the Reuters poll estimate for 54.1. "The euro zone economy is being dealt yet another blow from COVID-19, with rising infection levels dampening growth in the service sector in particular to result in a disappointing end to 2021," said Chris Williamson, chief business economist at IHS Markit. It wasn't looking like a good Christmas for Turkey either. The lira dropped nearly 4% to an all-time low beyond 15 against the dollar after another 100 basis point interest rate cut by the central bank, which has fallen in line with President Tayyip Erdogan's risky new economic programme. "We exited local markets in September - we went to zero," said Aegon (NYSE:AEG) Asset Management's head of emerging market debt Jeffery Grills, blaming the direction the country's economic and monetary policies were now taking. The lira has halved in value this year, and worries are mounting about what could happen if low rates and stimulus ahead of presidential elections in 2023 continue to ramp up inflation which is already above 20%. "The accompanying statement suggests that the easing cycle will be on pause early next year but, even so, the lira will remain under pressure and capital controls are likely," said Jason Tuvey at Capital Economics. Things were far smoother in the commodity markets. Oil rose to $75 supported by record U.S. implied demand and falling crude stockpiles [O/R], while cooper which is highly sensitive to the health of the global economy rebounded 2.2% after falls on Wednesday has taken its losses since October past 11%.
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**@CNBC:** HSBC names the big market risks next year and says stock returns will be squeezed https://t.co/15mgn7iBqu https://twitter.com/CNBC/status/1471445205706588166
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Key Metrics
Market Cap
123.89 B
Beta
0.77
Avg. Volume
3.56 M
Shares Outstanding
4.02 B
Yield
0%
Public Float
0
Next Earnings Date
2022-08-01
Next Dividend Date
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