HK Stock Price Fluctuated | STANCHART (02888) rose more than 5% and Goldman Sachs believes it is expected to outperform its peers in the next two years. They have upgraded their rating to "buy".

Standard Chartered (02888) is up more than 5%, as of press time, up 5.22%, at HKD 64.5, with a trading volume of HKD 34.83 million. On the news front, Goldman Sachs has issued a research report stating that Standard Chartered is expected to show performance exceeding its peers in the next two years, with an estimated compound annual growth rate of double digits in earnings per share and an improvement of approximately 2.7 percentage points in return on equity (ROE), compared to its peers' single-digit compound annual growth rate in earnings per share and declining ROE. The bank believes that factors driving the improvement in Standard Chartered's profitability include the lifting of hedges that caused losses for the group by the end of 2021, continued increase in market share in the financial market business, the appointment of a new CFO in the first quarter of next year, and capital at its target upper limit. The bank has upgraded its rating on Standard Chartered from "Neutral" to "Buy".