1154 GMT - HSBC and Standard Chartered's loans are exposed to economies that saw a sharp rise in tariff rates in the latest U.S. announcement, namely in Asia, J.P.Morgan says in a research note. A decline in transactional banking fees, which made up a chunk of each of the bank's revenues, may also be a consequence of the fresh tariffs, analysts write. Globally, heavier U.S. tariffs would lead to weaker loan demand and asset quality concerns, they note. Both banks offer around 11% of total return on 2025 earnings estimates, which should provide some support at a time of elevated macro risk and volatility, they add. Shares extend intraday losses as HSBC falls 6.7% and StanChart sheds 9.9% in London. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
April 03, 2025 07:54 ET (11:54 GMT)
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