Goldman Sachs released a research report stating that HSBC Holdings (00005) outperformed expectations in the third quarter, expecting a positive stock price reaction, maintaining a 'buy' rating on the company, with an H-share target price of 82 Hong Kong dollars. The company's pre-tax net income for the third quarter reached 8.7 billion US dollars, exceeding the bank's expectations by 16%; the revenue exceeded expectations mainly due to the boost in non-banking business net interest income.

In addition, the company also announced a new $3 billion share buyback plan, also higher than the bank's expectations. Management maintains guidance for the next two years: tangible equity return on target (ROTE) of 14% to 16%, and banking net interest income of about $43 billion in the 2024 fiscal year. It is also expected that credit costs in the 2024 fiscal year will be between 30 and 40 basis points, in line with market expectations.