Goldman Sachs: Raises target price for HSBC Holdings (00005) to 103 Hong Kong dollars, expects US interest rate cut to start in December this year.

Goldman Sachs released a research report stating that it is expected that the Federal Reserve will cut interest rates by 25 basis points in December, March, and June of this year, compared to the earlier prediction of June, July, and September. As for HIBOR, due to excess liquidity in the Hong Kong banking system, the 1-month HIBOR has dropped by about 2 percentage points to below 1.9%. The bank has raised its earnings per share forecast for HSBC HOLDINGS (00005) for the fiscal years 2025 to 2028 by approximately 3%, and has raised the target price by 2% from 101 Hong Kong dollars to 103 Hong Kong dollars.