Hsbc Holdings Stock News

SYDNEY: The Australian and New Zealand dollars were under fire again on Wednesday after a batch of upbeat US economic data lifted their US counterpart, while domestic news disappointed bulls. The Aussie lapsed to a fresh five-week trough of $0.7275 , having shed 0.7% overnight when US retail and industrial figures came in strong. The breach of support at $0.7277 could see a re-test of the September low at $0.7171. The kiwi dollar crumbled 0.8% overnight to reach $0.6984 and threaten support around $0.6980. A break would open the way to its September low of $0.6860. The Aussie took a further blow when Australian wages data failed to beat expectations as some in the market had been betting on. Annual wage growth ticked up to a moderate 2.2% just as forecast, while bulls had hoped a higher outcome would reinforce the case for an early rate hike from the Reserve Bank of Australia (RBA). "It''s clear that wages growth is well below the 3-4% rates that were the norm a decade ago and the sorts of rates the RBA needs to believe that inflation will sustainably run at 2-3%," said Paul Bloxham, chief economist Australia at HSBC. "Today''s figures support the RBA''s dovish perspective and our own view on the cash rate outlook - our central case has no hikes in 2022 or 2023." That saw the futures market lengthen the odds on a hike just a little, with a move to 0.25% now fully priced in by July next year rather than June.

Intertek Group (OTCMKTS:IKTSY) was upgraded by Citigroup from a neutral rating to a buy rating in a research note issued to investors on Tuesday, The Fly reports. Several other analysts have also weighed in on IKTSY. HSBC upgraded shares of Intertek Group from a hold rating to a buy rating in a research note on []

Berenberg Bank cut shares of Direct Line Insurance Group (OTCMKTS:DIISY) from a buy rating to a hold rating in a report released on Monday morning, The Fly reports. Several other brokerages have also recently commented on DIISY. HSBC restated a hold rating on shares of Direct Line Insurance Group in a research note on Thursday, []

The French lender, which overtook British rival HSBC last year to become Europe''s largest bank by assets, is looking to part ways with its California-based retail banking subsidiary in a deal that could value it at about $15 billion.

The Singapore-based active responsible investment manager and multi-family office has announced the addition of two seasoned executives to its client relationship and investment advisory teams. Private banking industry veteran Varun Gulati joins the firm as a relationship management director to help drive Maitris client relationship strategy and partnerships, while Edwin Aw joins as an investment counsellor to focus on formulating and managing bespoke investment solutions for clients, according to an announcement on Tuesday. Gulati brings with him more than 17 years of experience in the wealth management industry across multiple markets in Asia and the Middle East. He joins Maitri from the private banking division of Deutsche Bank, and has previously held roles in wealth management at firms like ABN Amro, HSBC and Standard Chartered. Aw joins Maitri from HSBC, where he established a career as a private banking investment specialist. His career to date spans stints at numerous leading financial institutions including Schroders, ING and Bank of America Merrill Lynch.

Chevron Co. (NYSE:CVX)s share price reached a new 52-week high during trading on Monday . The stock traded as high as $116.34 and last traded at $116.34, with a volume of 487406 shares. The stock had previously closed at $114.23. Several equities research analysts have commented on CVX shares. HSBC downgraded Chevron from a buy []

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Hapag-Lloyd Aktiengesellschaft (OTCMKTS:HPGLY) was upgraded by Cheuvreux from a hold rating to a buy rating in a report issued on Monday, The Fly reports. HPGLY has been the subject of a number of other reports. HSBC downgraded shares of Hapag-Lloyd Aktiengesellschaft from a buy rating to a hold rating and set a $110.00 price target []

Latest job changes across the industry

HSBC''s global commercial banking business generated revenue of $13.3 billion on an adjusted basis last year.

EDP Energias de Portugal (OTCMKTS:EDPFY) was upgraded by equities research analysts at HSBC from a hold rating to a buy rating in a research report issued on Monday, The Fly reports. EDPFY has been the topic of several other reports. UBS Group restated a buy rating on shares of EDP Energias de Portugal []

Nearly one in five entrepreneurs expect revenue to double in three yearsHONG KONG, Nov 15, 2021 - (ACN Newswire) - Most start-ups in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) are optimis

HSBC lowered shares of Harmony Gold Mining (NYSE:HMY) from a buy rating to a hold rating in a research note issued to investors on Thursday morning, The Fly reports. Separately, Zacks Investment Research upgraded shares of Harmony Gold Mining from a sell rating to a hold rating and set a $4.50 target price on the []

SHANGHAI: China''s yuan hovered at a three-week high against the dollar on Monday on rising hopes for an improvement in Sino-US relations, while sightly better-than-expected October activity indicators also lent support to the local currency. Traders said the main focus would be a virtual meeting between US President Joe Biden and his counterpart Xi Jinping on Tuesday, with some investors raising their bets for partial removal of tariffs. "If Sino-US relations improve further, the yuan will continue strengthening," said Li Liuyang, chief currency analyst at China Merchants Bank, though he added that 6.35 per dollar could provide strong resistance for the yuan in the near-term. Prior to market opening, the People''s Bank of China (PBOC) set the midpoint rate at 6.3896 per dollar, 169 pips or 0.26% firmer than the previous fix of 6.4065, the strongest since Oct. 27. The firmer official guidance pushed the yuan''s value against it major trading partners to 101.33, the highest level since Dec. 18, 2015, according to Reuters calculations based on official data.

Pictet''s wealth management division has made a raft of hires covering the North Asia market out of both Hong Kong and Singapore, according to an internal memo seen by finews.asia . In Singapore, Pictet Wealth Management (PWM) has formed a new team covering North Asia with three former UOB private bankers, according to an internal memo seen by finews.asia . UOBs ex-North Asia market head Eric Phua has been appointed market group head, reporting to head of South Asia Sharon Chou . Phua has over 20 years of private banking experience and, in addition to UOB, previously also worked for Citi Private Bank a Citi International Personal Bank in Singapore covering the China and Taiwan markets. UOB Trio Joining Phua from UOB Private Bank are Jaime Ang as market leader and Bernard Bay as a senior private banker. Ang was most recently a senior client advisor at UOB covering private banking clients from North Asia for 10 years. Previously, she was also a senior relationship manager at Citi International Personal Bank and DBS.