JPMorgan Chase released a research report stating that BOC Hong Kong (02388) delivered first-half results that exceeded the bank's expectations, though they were broadly in line with market consensus, supported by steady growth in pre-tax operating profit. The bank has raised its earnings forecasts by 20% to reflect more resilient profit margins and trading income, while maintaining a "Neutral" rating. The target price has been increased from HK$37.7 to HK$38.4.