HSBC, StanChart fall; JPM says impact of new Chinese rules greater than initially thought

HSBC Holdings

09/06/2026 14:31

    LONDON, June 9 (Reuters) - ** Standard Chartered STAN.L shares fall 3.3%, HSBC HSBA.L falls 2%, compared to a 0.9% rise in European banking index. 
** Trader points to JPMorgan note, published late Monday that says the impact of China's new Outbound Direct Investment regulation will be more negative for UK, Asian and Swiss banks than previously expected. 
** China said last month it would punish brokers it accused of illegally moving money to foreign markets, and Hong Kong's securities and banking regulators tightened rules for the sector.
**JPMorgan said the scope of individuals covered by the new rules was wider than they had thought, as was the range of the investments affected. 
     ** JPMorgan estimates EPS at risk of 4% or 5% for HSBC/StanChart, which the bank says is partially priced. They said disclosure for the Swiss banks is more limited and though headwinds to net new money for high-worth and ultra high-net worth individuals are higher than their previous expectations 
** Julius Baer BAER.S shares were up 1% and UBS UBSG.S stock was up 2%, with the latter helped by a Reuters report Swiss lawmakers could soften capital requirements on the banking giant. 
     
     
     
     
     
     

(Reporting by Alun John; Editing by Amanda Cooper)
((alun.john@thomsonreuters.com;))