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☆ The luxury conglomerate behind Cartier is beating LVMH at its own game
▼ + stars: | 2024-06-19 | by ( Madeline Berg | ) www.businessinsider.com time to read: +10 min

But there's another corporation beating LVMH at its own game, and you probably haven't even heard of it: Richemont. Switzerland-based Richemont, behind brands like Cartier, Van Cleef & Arpels, and Piaget, is having a moment. "All of this favors the most established brands: Cartier and Van Cleef." Driven by Richemont's top brands, Cartier and Van Cleef, sales gained 7% in the country, including Hong Kong and Macau, in Richemont's 2024 fiscal year. "If you're in a bar or restaurant, you're sitting at a distance, you can recognize the Labra pendant from Van Cleef.

Persons: —, Louis Vuitton, Bernard Arnault's, Van Cleef, Piaget, outperforming LVMH, Saint Laurent, It's, Cartier, Chiara Battistini, it's, Gucci, Arnault, Johann Rupert, Rupert, Richemont, Fflur Roberts, HSBC's Rambourg, Diana —, Tim Graham, Jelena Sokolova, Morningstar, Rambourg, Euromonitor's Roberts, Van, Keith Tsuji, Sokolova, Cleef, Nicolas Bos, — Bos, Nicholas Bos, Jared Siskin, I've, What's, JPMorgan's Battistini, Bos, Porter Organizations: Service, LVMH, Business, Cartier, Gucci, HSBC, Google, JPMorgan, Credit Suisse, Deloitte, Local, Art Basel, McKinsey, Prada Locations: Switzerland, China, Euromonitor, Hong Kong, Macau, Art Basel Hong Kong, Asia

☆ Japan did it first. Chinese stocks with some of the biggest global upside
▼ + stars: | 2024-06-16 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

If the international expansion of Japanese companies is any guide, Chinese companies still have significant potential left in the global market. The company did not break out overseas revenue for the first quarter, but said overall revenue grew by 14% from a year ago to 3.8 billion yuan. When compared to Japanese companies, the contribution of overseas revenue to the total for Chinese businesses is low across industries. "We believe Zhejiang Dingli will benefit from strong boom lift sales growth, especially in the US market," the HSBC report said. I think the conversation has moved now more toward being tough on global trade or free trade," David Chao, global market strategist, Asia Pacific (ex-Japan), at Invesco, said during a webinar Thursday.

Persons: Steven Sun, Christine Peng, Anker, Dingli, Snibe, David Chao, — CNBC's Michael Bloom Organizations: HSBC, CSI, Japan's Nikkei, HSBC Qianhai Securities, UBS Asia Pacific, Companies, Amazon, Apple, Google, U.S . Commerce Department, Shenzhen New Industries Biomedical Engineering, Asia Pacific, U.S, Association of Southeast Asian Nations, Union Locations: China, Japan's, Shanghai, Germany, Indonesia, East, South America, Shenzhen, Zhejiang, Snibe — Shenzhen, U.S, Asia, Japan, Invesco, Singapore, The U.S

☆ Watch CNBC’s full interview with Virtus' Joe Terranova, HSBC's Max Kettner and BofA's Marci McGregor
▼ + stars: | 2024-06-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with Virtus' Joe Terranova, HSBC's Max Kettner and BofA's Marci McGregorVirtus' Joe Terranova, HSBC's Max Kettner, and BofA's Marci McGregor join 'Closing Bell' to discuss Nvidia's run, the upcoming jobs report, and potential Fed reaction and what it all means for the markets.

Persons: Joe Terranova, HSBC's Max Kettner, BofA's Marci McGregor Virtus, BofA's Marci McGregor Organizations: Virtus

☆ HSBC's Max Kettner expects the bull run to hit some headwinds in Q3
▼ + stars: | 2024-05-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHSBC's Max Kettner expects the bull run to hit some headwinds in Q3Max Kettner, HSBC Global Research chief multi-asset strategist, joins 'Closing Bell' to discuss if he expects the bull rally to have more upside.

Persons: Max Kettner Organizations: HSBC Global Research

☆ HSBC falls 3% amid reports that top shareholder Ping An is looking to trim its stake
▼ + stars: | 2024-05-17 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Customers use automated teller machines (ATM) at an HSBC Holdings Plc bank branch at night in Hong Kong, China, on Saturday, Feb 16, 2019. Despite the fall, HSBC's share price is still at its highest since August 2018, trading at about 68 Hong Kong dollars per share. Shares of HSBC Holdings fell over 3% in Hong Kong on Friday after reports that its top shareholder Ping An Insurance might be looking to cut its stake in the British bank. There are several options including "further share sales, similar to the $50 million sale it disclosed last week." Ping An sold HSBC shares worth 391.49 million Hong Kong dollars ($50.19 million) on May 7, cutting its stake from 8.01% to 7.98%.

Persons: Ping, Bloomberg Organizations: HSBC Holdings Plc, Hong, HSBC Holdings, Ping, Bloomberg, An, HSBC, Hong Kong Locations: Hong Kong, China, British, Asia

The bank's price target implies more than 35% upside. Citi also increased its price target to $47 per share from $38, which implies more than 30% upside from Thursday's $36.06 close. The firm upgraded shares of the drive-through coffee company to buy from hold and raised its target price to $46 per share from $33. Dutch Bros stock has ticked up roughly 4% in 2024, lagging the broader market. The firm upgraded the conglomerate to buy and raises its price target to $115 per share from $91.13.

Persons: abate, Jon Tower, Brian Evans, TD Cowen, Cowen, Andrew M, Charles said, — Brian Evans, Chris O'Cull, Wesley Brooks, Brooks, Brandon Nispel, Nispel, Fred Imbert Organizations: CNBC, Warner Bros, Discovery, HSBC, Citi, Cheesecake, Bros, MMM

☆ China hedge fund Pinpoint is bouncing back in 2024 after years of poor performance
▼ + stars: | 2024-05-02 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +2 min

Pinpoint Asset Management is a Hong Kong-based hedge fund with offices in Shanghai and Singapore. According to HSBC's Hedge Weekly report, the firm's China fund gained more than 2% through the first two weeks of April to bring its year-to-date returns to just under 8%. The firm's multi-strategy fund was up 1.8% for the month through April 15, to bring its 2024 gains to 6%. The China fund had a run of poor performance given the country's economic slowdown. The performance so far in 2024 has beaten out other funds focused on the region — Hedge Fund Research's China index was up just 0.43% through the end of March.

Persons: —, Wang Qiang Organizations: Service, HSBC's, HSBC, Citadel Locations: Hong Kong, Shanghai, Singapore, China, Asia

☆ HSBC's Ryan Wang: Expecting 75 basis points of rate cuts this year
▼ + stars: | 2024-05-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHSBC's Ryan Wang: Expecting 75 basis points of rate cuts this yearRyan Wang, HSBC chief U.S. economist, joins 'Money Movers' to discuss why Wang believes the Federal Reserve could cut rates in June, whether the Fed needs more evidence to cut rates, and what could set the table for a wave of layoffs.

Persons: HSBC's Ryan Wang, Ryan Wang, Wang Organizations: HSBC

☆ More CEOs are deciding the stress, pressure, and loneliness are just not worth the money
▼ + stars: | 2024-04-30 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Pressure, stress, and lonelinessHead honchos have been calling out the difficulties of their jobs for years. Tesla and SpaceX CEO Elon Musk has bemoaned that running a company is "really not that fun" and "just awful" at times. "The depths of loneliness I experienced as a CEO are difficult to put into words," he posted on X in January. The combination of immense pressure, stress, loneliness, and lack of work-life balance that often comes with being a CEO may well explain why few people last long in the role.

Persons: —, HSBC's Noel Quinn, Bob Bakish, Dr Martens, Kenny Wilson, Andrew Challenger, HSBC's Quinn, Elon Musk, Musk, Grzegorz Wajda, Brian Chesky, Warren Buffett, Berkshire Hathaway, Buffett Organizations: Service, Paramount, Business, SpaceX, Berkshire, he's

☆ Stocks making the biggest moves premarket: Eli Lilly, 3M, McDonald's and more
▼ + stars: | 2024-04-30 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Eli Lilly also hiked its full-year guidance for adjusted earnings and revenue, topping analysts' expectations. 3M – Shares advanced 7.7% after the maker of industrial products posted earnings of $2.39 per share on revenues of $7.72 billion. First-quarter revenue at the Netherlands-based automaker slid 12% due to lower sales plus foreign exchange effects, even as net pricing remained strong. HSBC — HSBC, Europe's largest bank by assets, added 4.2% after the firm beat first-quarter earnings expectations and announced the departure of its Group Chief Executive Officer, Noel Quinn. PayPal saw first-quarter revenue of $7.7 billion, topping analysts' $7.51 billion consensus estimate, according to LSEG.

Persons: Eli Lilly —, Eli Lilly, Meanwehile, Goldman Sachs, Coke, Tesla, Noel Quinn, Yun Li, Jesse Pound, Michelle Fox Theobald Organizations: Chrysler, HSBC — HSBC, GE Healthcare Technologies, GE, PayPal Locations: Chicago, Netherlands, Atlanta, China

☆ HSBC wealth investor is convinced four secular themes will keep the U.S. economy humming along
▼ + stars: | 2024-04-28 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

A handful of drivers will keep the American economy humming along, said Jose Rasco, chief investment officer of the Americas at HSBC's wealth division. On the cyclical front, Rasco expects growth to cool as the effects of higher rates become fully felt. "Those four themes suggest to me that's how we avoid recession," said Rasco, a Lehman Brothers and Merrill Lynch alum. Bonus: Presidential election year While not exactly an investment trend, Rasco also noted that a big part of his short-term optimism toward U.S. stocks stems from the looming presidential election. Data shows U.S. stocks tend to outperform in presidential election years.

Persons: Jose Rasco, Rasco, Merrill Lynch, it's Organizations: Federal Reserve, CNBC Pro, Federal, Lehman Brothers, U.S, U.S . Research, BlackRock, HSBC Asset Management Locations: New York City, Americas, China, Mexico, U.S

☆ HSBC discusses prospects of yen intervention
▼ + stars: | 2024-04-23 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHSBC discusses prospects of yen interventionJoey Chew, HSBC's head of Asia FX Research, discusses the outlook for the currency and monetary policy.

Persons: Joey Chew Organizations: HSBC, Asia FX Research

☆ HSBC's Max Kettner gives his bull case for equities and earnings
▼ + stars: | 2024-04-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHSBC's Max Kettner gives his bull case for equities and earningsMax Kettner, HSBC Global research chief multi-asset strategist, joins 'Closing Bell' to discuss the market setback and still being a market bull.

Persons: Max Kettner Organizations: HSBC Global

☆ Hong Kong’s biggest stock is ready for a turnaround, analysts say
▼ + stars: | 2024-04-21 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

The firm is overweight on Tencent shares, with a price target of 400 Hong Kong dollars ($51). Also helping analysts' optimism on the stock are Tencent's share buybacks. HSBC has a buy rating on Tencent, with a target price of 385 Hong Kong dollars. Pan said that low liquidity in Hong Kong has also affected share prices in that market, but he hopes that can improve with a new CEO. The Hong Kong exchange's co-COO Bonnie Chan is set to become head of the business in late May.

Persons: Morgan Stanley, Gary Yu, Morgan Stanley's Yu, Tencent, Prosus, Charlene Liu, HSBC's, Grant Pan, Noah Holdings, Pan, Hong Kong exchange's, Bonnie Chan, — CNBC's Michael Bloom Organizations: Hong, Jefferies, Naspers, Internet, Gaming Research, HSBC Locations: Hong, Hong Kong, Asia, Japan, Netherlands, Tencent, 1Q24, Asia Pacific, HKD500m, China

☆ The Japanese don't necessarily want a much stronger yen: HSBC economist
▼ + stars: | 2024-04-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Japanese don't necessarily want a much stronger yen: HSBC economistFrederic Neumann, HSBC's chief Asia economist, discusses the outlook for yen intervention, and says "the weak yen plays a functional role in Japan's reflation — the Japanese don't want necessarily a much stronger yen, so long as the depreciation is orderly."

Persons: Frederic Neumann, Japan's reflation Organizations: HSBC Locations: HSBC's, Asia

☆ A rate cut still makes sense despite recent inflation data, says HSBC's Max Kettner
▼ + stars: | 2024-04-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailA rate cut still makes sense despite recent inflation data, says HSBC's Max KettnerMax Kettner, HSBC chief multi-asset strategist, joins 'Money Movers' to discuss if a rate cut makes sense in this environment, the bifurcation between ECB and Federal Reserve policy, and more.

Persons: HSBC's Max Kettner Max Kettner Organizations: HSBC, Federal Reserve

☆ Expect AI to become as universal as email: HSBC
▼ + stars: | 2024-04-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailExpect AI to become as universal as email: HSBCEJ Achtner, head of HSBC's Office of Applied Artificial Intelligence, discusses HSBC's AI report, which will help customers prepare for a future where AI is fully integrated.

Persons: HSBC EJ Achtner Organizations: HSBC, HSBC's, Applied Artificial Intelligence

☆ StanChart CEO Winters meets China FX regulator, launches investment banking unit
▼ + stars: | 2024-03-26 | by ( ) www.cnbc.com time to read: +2 min

Standard Chartered CEO Bill Winters met with the head of China's foreign exchange regulator on Monday, a month after the bank suspended new investments by its clients in the country into offshore products via a quota-based channel. "We have confidence in China's continued financial sector opening and economic transition," Winters said. "The inauguration of SCSCL will enhance Standard Chartered's ability to serve clients domestically and internationally, deepening and diversifying our capabilities in China". StanChart started hiring staff in China since 2023 as it geared up to launch the investment banking unit targeting niche bond deals, chairman of the unit said last year. Blackstone's Schwarzman held a meeting on Monday with the chief secretary of Communist Party of China, Cai Qi, a statement from China's Ministry of Foreign Affairs shows.

Persons: Bill Winters, Winters, Zhu Hexin, StanChart, Zhu, China's, StanChart's Winters, Noel Quinn, Blackstone's Schwarzman, Cai Qi, Cai Organizations: China's, Administration of Foreign Exchange, SAFE, Standard Chartered Securities China, China Development, Communist Party of China, China's Ministry of Foreign Affairs Locations: London, China, U.S, Los Angeles

☆ Watch CNBC's full interview with Fundstrat's Tom Lee and HSBC's Jose Rasco
▼ + stars: | 2024-03-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Fundstrat's Tom Lee and HSBC's Jose RascoTom Lee, Fundstrat co-founder, and Jose Rasco, HSBC Private Bank chief investment officer, join 'Closing Bell Overtime' to talk the day's market action.

Persons: Fundstrat's Tom Lee, HSBC's Jose Rasco Tom Lee, Fundstrat, Jose Rasco Organizations: HSBC Private Bank

☆ Analysts ratchet up Nvidia price forecasts ahead of big conference with one seeing 30% upside
▼ + stars: | 2024-03-18 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Several major Wall Street shops have already beefed up their price targets on the chipmaker heading into the event, with HSBC and Truist joining the flood on Monday. NVDA 1Y mountain Nvidia share performance over the last year According to FactSet, the current consensus price target on Nvidia implies about 4% upside, with 90% of analysts holding a buy or overweight rating. Stein boosted the firm's price target to $1,177 from $911 a share, reflecting 34% upside from Friday's close. "We are encouraged by Nvidia's AI product roadmap which focuses on moving beyond GPUs and towards owning the entire value chain." Wall Street turns more bullish HSBC and Truist may be the latest Wall Street shops to up estimates heading into the GTC Conference, but they are far from the first.

Persons: FactSet, William Stein, Stein, HSBC's Frank Lee, Blackwell, America's Vivek Arya, Cantor Fitzgerald's C.J, Muse, — CNBC's Michael Bloom Organizations: Nvidia, Bank of America, Wall Street, HSBC, Truist, GTC, Bank, America's, NVIDIA

☆ CNBC Daily Open: Another hot inflation gauge fuels worry
▼ + stars: | 2024-03-15 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Why Japan's wage talks matterJapan's "shunto" wage negotiations hit fever pitch this week as several corporate giants revealed salary increases. "I think the legislation should pass and I think it should be sold," Mnuchin told CNBC. [PRO] Look beyond NvidiaInvestment firm Fidelity International said investors should look beyond highfliers like Nvidia to ride the AI wave.

Persons: Dow, Steven Mnuchin, Mnuchin Organizations: CNBC, Nasdaq, Bank of, U.S, HSBC bullish, Nvidia Investment, Fidelity International, Nvidia Locations: U.S, China

☆ CNBC Daily Open: Hot inflation data spooks Wall Street
▼ + stars: | 2024-03-15 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. In Japan, the Nikkei 225 slipped, while Topix gained as investors awaited for updates on the country's spring wage talks. Why Japan's wage talks matterJapan's "shunto" wage negotiations hit fever pitch this week as several corporate giants revealed salary increases. Wealth tax in spotlightCan a wealth tax work in reality? The proposals, outlined in the 2024 budget, rekindled debate about a wealth tax on the world's richest.

Persons: Hang Seng, Hong, Topix, Joe Biden Organizations: CNBC, China's CSI, Nikkei, Dow, Nasdaq, Bank of, HSBC bullish, Nvidia Investment, Fidelity International, Nvidia Locations: Asia, Japan, U.S, China

☆ HSBC's Max Kettner: High-yield credit and equities overall still look 'pretty good'
▼ + stars: | 2024-03-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHSBC's Max Kettner: High-yield credit and equities overall still look 'pretty good'Max Kettner, HSBC chief multi-asset strategist, joins 'Money Movers' to discuss where Kettner sees the best risk-reward profile right now, any potential risks that could disrupt current market performance, and more.

Persons: Max Kettner, Kettner Organizations: HSBC

☆ China says it plans to boost these industries. Stocks to play the trend
▼ + stars: | 2024-03-10 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

"MS' Economics team believes that the announced fiscal package is insufficient to boost the economy as fiscal package remains supply-centric," Wang said. "Policy support for developing advanced production capacity will lead to increased capex in associated value chains like the industrials and IT sectors," the HSBC analysts said. All four stocks are listed in Shenzhen: Inovance — as a seller of factory automation components, Inovance should "benefit from the recovery of the discrete automation market in 2024," the HSBC analysts said. The HSBC analysts expect Innolight to increase its sales of its most advanced product, and introduce an even better product in the fourth quarter. Sanqi Entertainment — HSBC analysts expect this gaming stock can nearly double to 36 yuan a share.

Persons: Steven Sun, Wu Qing, Morgan Stanley, Laura Wang, Wang, Xi Jinping, Michael Bloom Organizations: Beijing, Authorities, HSBC, Finance, Information, Inovance, Naura Tech, Sanqi Entertainment — HSBC Locations: China, HSBC China, Shanghai, Beijing, Chongqing —, Shenzhen

☆ China doubles down on manufacturing, leaving real estate behind
▼ + stars: | 2024-03-08 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

China News Service | China News Service | Getty ImagesBEIJING — China revealed this week it aims to spend more than a billion dollars to bolster manufacturing and domestic tech in a bid to remain globally competitive, while divulging little new support for the struggling real estate market. Industrial support clearly ranked first on Beijing's priority list for the year ahead, according to three major plans released this week as part of China's annual parliamentary meetings. Chinese authorities in 2020 intensified a crackdown on real estate developers' high reliance on debt for growth. Within that second priority, the finance ministry said it would allocate 31.3 billion yuan for improving vocational education. The government work report presented by Premier Li Qiang gave real estate a similar level of prominence.

Persons: Frederic Neumann, Li Qiang Organizations: Seres, China News Service, Getty, Ministry of Finance, HSBC, UBS, National Development, Reform Commission Locations: Chongqing, China, BEIJING, Asia, Beijing, U.S

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