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Bloomberg Intelligence: HK Banking Sector's Wealth Mgmt Fee Income May Rise 20%+ This Yr
Recommend 19 Positive 34 Negative 17 |
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The Hong Kong banking sector, led by HSBC HOLDINGS (00005.HK) and BOC HONG KONG (02388.HK), may see its wealth management fee income grow by more than 20% this year on fund sales, brokerage income, and bancassurance business, according to Bloomberg Intelligence. Bloomberg Intelligence attributed the surge in wealth management fees to the optimistic outlook for global AI technology development and favorable conditions in the equity, fixed income, and precious metals markets. Risk appetite will also remain solid because of the market expectations for further rate cuts by the Fed this year. AAStocks Financial News |
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