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Express News | Chinese Sovereign Fund Cic to Sell U.S. Private Equity Investment Portfolio Worth $1 Billion in Secondary Market, Sources Say
Morgan Stanley: Maintains HSBC Holdings 'Shareholding' rating with a Target Price of 83 Hong Kong dollars.
Morgan Stanley released a Research Report stating that it maintains a "Shareholding" rating for HSBC Holdings (00005), with a Target Price of HKD 83. Morgan Stanley believes that HSBC's first-quarter revenue exceeded expectations, mainly driven by non-interest income from wealth management, Bonds, and Stocks markets, therefore raising this year's expense and other income forecasts, while increasing this year's profit forecast by 1.2%. However, due to the impact of tariffs on trade-related income, profit forecasts for next year and the following year were lowered by 1.3% and 1.4%, respectively. The bank estimates that at fixed Exchange Rates, the group's first-quarter costs rose by 3.5%, and the target of a 3% increase in costs for the whole year is likely to be achieved. The guidance for net interest income of USD 42 billion is also achievable.
Summary of opinions: HSBC lowers the target for the S&P 500 Index, and Saudi Arabia may push OPEC+ to increase production again.
HSBC strategists have lowered the year-end target for the S&P 500 Index from 6,700 points to 5,600 points, stating that tariffs and slower-than-expected economic growth in the USA will pressure corporate profits. JPMorgan expects that Saudi Arabia may push OPEC+ to increase production again in June. Morgan Stanley believes that betting on a weaker dollar through Call options on the euro and yen is the best strategy. HSBC lowers the S&P 500 Index target, stating that tariffs and economic factors will put pressure on corporate profits.
Morgan Stanley Options Spot-On: On April 29th, 46,472 Contracts Were Traded, With 603.96K Open Interest
CIBC Introducing Additional U.S. Canadian Depositary Receipts
Wall Street Banks sold the final portion of the debt involved in Musk's acquisition of X.
A knowledgeable source said on Monday that a group of banks, including Morgan Stanley, Bank of America, Barclays, and Mitsubishi UFJ Financial Group, has sold the last portion of debt associated with billionaire Elon Musk's acquisition of the social media platform Twitter (X) for 44 billion dollars in 2022. The source added that loans worth 1.2 billion dollars were sold at a discount of 98 cents on the dollar, with a yield of 9.5%. Musk's close relationship with former President Donald Trump, along with the outlook for improved revenues at X, allowed the banks to reduce their holdings of 13 billion dollars related to the debt on their books over nearly two years.
Cui Nyonya Kueh : Thank you, see you tomorrow!