Glonghui, April 11 | J.P. Morgan Chase released a report predicting that earnings for the first quarter of Foreign Exchange Control and Standard Chartered would drop 4% and 25%, respectively, year-on-year, mainly due to increased impairment expenses. The bank expects the market to pay more attention to management's capital return guidelines and profit forecasts for this year and next two years, which is more than the profit performance of the first quarter. The bank expects management to raise the net interest income guidelines as expectations of interest rate cuts ease. The bank's expected return on capital should support FX's share price in the short term, including an estimated special dividend of 21 cents per share and an interim dividend of 10 cents per share in June, or a dividend rate of about 4%, and the announcement of a $2.5 billion repurchase plan in the first quarter. The bank maintained its “excess” rating for FX Control and Standard Chartered. The target price for FX Control was raised from HK$74 to HK$78, and the target price for Standard Chartered was raised from HK$80 to HK$82.