STANCHART (02888.HK) Once Rebounds 5% in PM, as 1H24 Profit Beats

　　STANCHART (02888.HK) +2.600 (+3.547%) announced at noon that its 1H24 reported profit before tax rose 5% YoY to US$3.492 billion, slightly higher than the US$3.4 billion forecast by Morgan Stanley. Underlying profit before tax was US$3.957 billion, up 20% YoY, also higher than the US$3.72 billion forecast by Morgan Stanley. An interim dividend of US9 cents was declared.

　　In addition, STANCHART raised its full-year revenue guidance, with operating income expected to increase by more than 7% this year on a constant exchange rate basis, excluding two major projects. The lender also announced that it will soon launch another US$1.5 billion share buyback programme.

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　　STANCHART's share price rebounded in the afternoon, once hiking 5% to as high as HK$77. It now trades at HK$76, lifting 3.68%, with 308,400 shares traded, involving a turnover of HK$22.9607 million.

　　(HK stocks quote is delayed for at least 15 mins.)

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