HSBC Cites 14% Q1 Earnings Surge, Wins Stablecoin License
HSBC strategists upgraded US equities to a buy-equivalent rating, projecting 14% year-on-year Q1 profit growth—the fastest since 2024—with 84% of reporters beating forecasts by 12%. In Hong Kong, the Monetary Authority granted HSBC a stablecoin license but cautioned that fake tokens are circulating ahead of an anticipated November launch.
1. US Equities Upgrade
HSBC’s equity strategists shifted their stance on US stocks from geopolitical caution to fundamentals, raising the market rating to a buy equivalent. They highlighted that Q1 profits are expected to grow 14% year-on-year—the fastest pace since 2024—with 84% of companies beating forecasts by 12% on average.
2. Hong Kong Stablecoin License
HSBC received a stablecoin license from the Hong Kong Monetary Authority under the new regulatory framework, yet the regulator cautioned that unlicensed tokens are already circulating. The bank’s first official issuance is projected during Hong Kong’s fintech week in November.