iShares MSCI EAFE

HSBC Facilitates Tencent's Issuance of $2.45 Billion and 15 Billion RMB Notes

HSBC Raises 2026-2030 Global AI Industry Revenue Forecast to $2.5 Trillion

HSBC Private Bank Launches HSBC Access in HK, Opening Tech Startup Investments to UHNW Clients

HSBC Plans to Launch HKD Stablecoin in Second Half to Enhance Cross-border Transfers

AstraZeneca Obesity Oral Drug Shows 10.5% Weight Loss in Trials

After Standard Chartered CEO AI controversy, HSBC CEO Eric Hsieh: Humans remain core of banking even with AI, hiring may increase

AstraZeneca May Suspend New Drug Supply to Europe

Bernstein Reaffirms Outperform Rating on AstraZeneca, Highlights Non-Oncology Growth Potential for 2035 Sales

Bank of America raises HSBC target price to 168.8 HKD, reiterates Buy rating

SJTU Team Publishes DURABLE Study: Durvalumab Plus Anlotinib Improves Survival in Small Cell Lung Cancer

Roche rapidly develops a PCR test for Ebola within six days

HSBC faces allegations of misappropriating funds from Lebanon in French investigation

HSBC Obtains Stablecoin License, Plans to Launch HKD Stablecoin in Second Half of Year

AstraZeneca Reports Positive SERENA-6 Trial Results, Yet Stock Falls

HSBC Launches HDSU Blockchain Settlement Tool with Significant Cost and Efficiency Gains in Pilot

Genentech to Present Clinical Data for Obesity Drugs Enicepatide and Petrelintide at ADA 2026, Roche Shares Rise 1.82%

AstraZeneca Reports EMERALD-3 Trial Results: Combination Therapy Reduces Death Risk in Liver Cancer Patients by 30%

HSBC Executives Step Up to Revitalize HK Investment Banking Business, Poach from JPMorgan to Expand Footprint

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The Hang Seng Index fell 272 points to close at 24,292 in midday trading, marking its lowest level in over two and a half months. Financial stocks faced pressure due to capital outflows, with HSBC dropping 5.5% and Standard Chartered plunging 7%. Conversely, tech giants like Tencent rose over 3% on AI ecosystem news, while telecom operators gained on data center investment reports. Gold and copper miners also declined significantly.

- US markets showed mixed results on June 9, with the DJIA rising slightly while Nasdaq fell nearly 1% due to pressure on chip stocks.  
- Hong Kong's HSI opened down 123 points on June 10 and closed at 24,292, marking a significant decline influenced by tighter mainland controls on investment.  
- Notable performers included Tencent, which gained 3.22% after launching its AI ecosystem, while HSBC and Lenovo saw significant drops of 5.49% and 9.85%, respectively.

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HSI Extends Slide by 272 pts at Half-day; HSBC HOLDINGS  Slumps 5.5%, STANCHART Plunges 7%, TENCENT Rises Over 3% Against Market

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Hong Kong stocks opened lower on the 10th, with the HSI down 123 points (0.5%) amid US-Iran tensions and mixed US markets. Major blue chips faced pressure: HSBC fell over 2%, Wuxi Bio slumped nearly 5%, and Lenovo dropped 4.8%. Conversely, Tencent rose 1.28% following plans to issue USD2.45 billion in notes, while NetEase gained 2.14%. Meituan edged down slightly.

- US markets traded mixed, with the DJIA rising while the Nasdaq fell nearly 1% due to pressure on chip stocks.  
- Escalating tensions in Iran led President Trump to accuse Iran of shooting down a US helicopter, prompting US strikes in response.  
- Hong Kong markets opened lower, with the HSI down 0.5% and a significant drop in blue-chip stocks, including HSBC and Lenovo, amid high short selling activity.

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HSI Opens Down 123 pts; HSBC HOLDINGS Down 2%+; WUXI BIO Slumps ~5%

HSBC recommends a maximum overweight in global equities, arguing that key risks are overstated and already priced in. Meanwhile, Goldman Sachs has revised its Fed outlook, seeing no rate cuts in 2026 due to strong jobs data, which raises the possibility of a hike. Market focus shifts to upcoming CPI and PPI reports, with energy costs and AI investment now viewed as primary inflation drivers rather than tariffs.

- HSBC recommends a maximum overweight in global equities, arguing that key risks are overstated and reflected in current market prices.  
- Goldman Sachs has updated its forecast, indicating no Federal Reserve rate cuts in 2026 due to positive jobs data, increasing the likelihood of a rate hike.  
- Upcoming CPI and PPI reports are critical, as energy prices and AI investment are becoming significant inflation drivers, surpassing tariffs.

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HSBC doubles down on global equity optimism despite Fed uncertainty

U.S. stocks were mixed, while ADRs of Hong Kong-listed shares were mostly lower. According to Ming Pao, Tencent (0700) ADR rose 1.72% to an implied HK$451.65, Alibaba (9988) fell 0.3% to HK$117.26, Meituan (3690) gained 1.08% to HK$76.41, HSBC (0005) dropped 2.39% to HK$140.03, and China Construction Bank (0939) slipped 0.94% to HK$8.66. The near-month Hang Seng Index futures night session closed down 182 points at 24,441, a 124-point discount to the cash market.

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China Construction Bank

STOCKS | Tencent ADR Rises 1.72% While HSBC ADR Falls 2.39%; HSI Futures Down 182 Points

HSBC maintains a bullish stance on global equities, increasing its overweight position in emerging markets, Japan, and Europe despite recent volatility. Market sentiment was shaken by strong May jobs data, rising Treasury yields, and semiconductor sell-offs. The upcoming CPI report is critical, as it may shift Federal Reserve policy expectations and determine whether markets resume their rally or face further correction.

- HSBC maintains an overweight position in global equities, particularly in emerging markets, Japan, and Europe, amidst recent market volatility.  
- Key factors influencing the market include a strong May jobs report, rising Treasury yields, and declines in semiconductor stocks, which collectively impacted market confidence significantly.  
- The upcoming CPI report on Wednesday may alter Federal Reserve policy expectations and will be crucial in deciding if markets will rebound or face further declines.

HSBC urges staying long on equities despite market jitters

JPMO

Top banking executives are responding to Standard Chartered's plan to cut thousands of jobs due to AI adoption. While some leaders deny immediate mass layoffs, research from Morgan Stanley and Juniper Research predicts significant job losses in the European banking sector, with forecasts ranging up to 20% of roles at risk by 2030. Other analysts view this as a realignment rather than pure reduction, noting that vulnerable middle-office positions may be replaced by engineering staff. Major banks like JP Morgan and HSBC acknowledge AI will transform job types, creating new roles while eliminating others.

- Top banking executives are responding to substantial job cuts spurred by AI advancements at Standard Chartered, which plans to eliminate up to 8,000 positions.  
- Morgan Stanley estimates that up to 20% of roles in the European banking sector could face job loss, leading to approximately 400,000 reductions, while alternative forecasts suggest a shift in job types rather than outright loss.  
- As AI impacts the workforce, banks are navigating a delicate balance between cost-cutting and new hiring, with institutions like HSBC considering significant global layoffs in pursuit of efficiency.

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From mild to wild: What impact will AI have on banking jobs?

AstraZeneca is advancing its oral GLP-1 receptor agonist, elecoglipron, into Phase 3 trials following positive Phase 2b results. The drug demonstrated significant weight loss (up to 11.8%) in obesity patients and improved HbA1c control (90% below 7%) in Type 2 diabetes patients. Safety profiles were manageable with mild gastrointestinal side effects. AstraZeneca shares rose 0.73% to $182.88.

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AstraZeneca's GLP-1 Pill Heads To Late-Stage Trials

The Lung Cancer Research Foundation (LCRF) and AstraZeneca have announced an open call for research proposals focused on small cell lung cancer (SCLC). Two awards are available: a $500,000 three-year grant for novel therapeutic strategies and a $250,000 two-year grant for patient advocacy initiatives. Submissions of Letters of Intent are due by July 15, 2026.

prnewswire

09:31 ETLung Cancer Research Foundation and AstraZeneca Announce Open Call for Research Proposals with Focus on Small Cell Lung Cancer

AstraZeneca was reprimanded by the UK marketing watchdog PMCPA for eight breaches of advertising rules after employees, including senior staff, liked and shared a LinkedIn post praising its cancer drug Lynparza. The watchdog ruled that these actions constituted promotion, violating industry standards, though it did not find the conduct discredited the pharmaceutical sector. This marks another in a series of recent violations involving AstraZeneca's social media activities.

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AstraZeneca reprimanded over LinkedIn likes once again

HSBC Private Bank launched 'HSBC Access', a new offering for ultra-high-net-worth individuals and family offices. This initiative provides access to institutional-grade private market investments, including direct deals and venture capital funds in technology and startups. It marks the first time these clients can invest via HSBC Innovation Banking since its 2023 establishment. The platform offers market intelligence and founder introductions, initially rolling out in Hong Kong before expanding globally to meet growing demand.

- HSBC Private Bank has launched «HSBC Access» to enhance UHNW individuals' access to private market investments and innovation.  
- This platform enables clients to invest in selected technology and start-up companies, previously available only to institutional investors, through HSBC's Banking divisions.  
- The initiative addresses growing demand for private investment opportunities and aims to broaden funding options for entrepreneurs, with plans for global expansion following its initial rollout in Hong Kong.

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HSBC Private Bank Launches new offering for wealthy clients

iShares MSCI EAFE(EFA.US)

HSI Extends Slide by 272 pts at Half-day; HSBC HOLDINGS Slumps 5.5%, STANCHART Plunges 7%, TENCENT Rises Over 3% Against Market

HSI Opens Down 123 pts; HSBC HOLDINGS Down 2%+; WUXI BIO Slumps ~5%

HSBC doubles down on global equity optimism despite Fed uncertainty

STOCKS | Tencent ADR Rises 1.72% While HSBC ADR Falls 2.39%; HSI Futures Down 182 Points

HSBC urges staying long on equities despite market jitters