Daiwa: It is expected that HSBC Holdings (00005.HK) will see a 10% year-on-year decrease in adjusted pre-tax profit in the second quarter and will repurchase $2.5 billion worth of shares.

According to the Zhixun Finance APP, Morgan Stanley released a research report stating that it maintains its target price for HSBC Holdings (00005.HK) and Standard Chartered Group (02888.HK) unchanged at HK$90 and HK$121.5 respectively, both maintaining a "buy" rating. It is expected that banks in the region will continue stock repurchases in the second quarter, with Standard Chartered repurchasing $1.5 billion and HSBC expected to repurchase $2.5 billion.