HK Stock Market Move | STANCHART (02888) rose more than 4% during trading, Standard Chartered's high-end individual client base in the Greater Bay Area saw strong growth in new clients. In the future, the company will increase market expansion in China.

STANCHART (02888) rose more than 4% intraday, up 3.73% at the time of writing, trading at 202.8 Hong Kong dollars with a turnover of 1.12 billion Hong Kong dollars. On the news front, according to Standard Chartered Bank's official WeChat account, the bank recently announced the opening of the first wealth management center in the Greater Bay Area in Shenzhen. With innovative service experiences, they aim to meet the increasing wealth management needs of clients in the Greater Bay Area. Kelvin Lim, Head of Wealth Management and Retail Banking at Standard Chartered Hong Kong, revealed that the bank's new high-end individual clients in the Greater Bay Area Mainland China region are expected to grow by 40% annually by the third quarter of 2025. Opening the first wealth management center in a Greater Bay Area Mainland China city is expected to further strengthen their wealth management presence in the region. Xu Zhongwei, CEO of Wealth Management and Retail Banking Business at STANCHART for ASEAN, South Asia, Greater China, and North Asia regions, pointed out that the number of affluent individuals in Asia has been growing rapidly in recent years, becoming an important engine for global wealth growth. The group is heavily investing in the affluent client segment, expanding their client base at a rate of around 10% per year. They believe that China is one of the crucial markets and are confident in the huge potential and long-term high-quality development of the wealth management market in China.