HSBC's Long-Term Growth Could Gain from Asia's Wealth Momentum
Dow Jones08-05 10:33
0233 GMT - HSBC is likely to benefit from Asia's structural wealth momentum, which should serve as a driver of long-term growth for the lender, says Morningstar's Kathy Chan in a note. The London-based bank, which makes most of its profit in Asia, is one of the region's leading wealth managers, she notes. She expects the lender to post average revenue growth of 6% over 2026-2030, supported by its increasing assets under management. Morningstar retains a fair-value estimate of HK$158 and 1,490 pence on its Hong Kong and London shares, respectively. Shares fall 1.4% in Hong Kong to HK$164.20 and closed 0.8% lower in London at 1,584.60 pence.
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