On May 21, Standard Chartered Group rose 3.23% in regular trading, trading at HKD 204.0/share, with trading volume of HKD 53.43 million.

The rally was driven by the company recently unveiling a new medium-to-long-term sustainable growth strategy, announcing it has achieved its medium-term financial targets one year ahead of schedule. The group set a new goal of approximately 18% return on tangible equity (RoTE) by 2030, up from the over 15% target for 2028. Additionally, Standard Chartered plans to cut more than 15% of corporate function roles by 2030, affecting nearly 8,000 positions, while targeting a roughly 20% increase in per-capita revenue generation by 2028 through automation and AI deployment.

Following the announcement, JPMorgan issued a report noting that Standard Chartered's current valuation has yet to reflect its long-term return objectives, reaffirming an Overweight rating with a target price of HKD 232.9. Meanwhile, the company continued its buyback program, repurchasing approximately 792,100 shares on May 18 for around GBP 15.04 million, and a further 775,196 shares on May 19 for GBP 14.72 million.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)