CICC: Continuation of Standard Chartered Group (02888) as the preferred Hong Kong bank stock, expects resolution of 1MDB lawsuit to take several years.

According to the Wisdom Financial APP, J.P. Morgan released a research report stating that it maintains a positive view on Standard Chartered Group (02888), and continues to list Standard Chartered as the top pick among Hong Kong bank stocks. The report believes that Standard Chartered is less affected by the decline in HIBOR and the risks in Hong Kong commercial real estate; it is also a major beneficiary of RMB internationalization. Standard Chartered has a clear digital asset development strategy and is better able to withstand the impact of stablecoins compared to its industry peers. The target price is 135 Hong Kong dollars, with a rating of "hold."