London, February 23, 2026, 08:19 GMT — Regular session
HSBC Holdings’ London-listed shares were flat at 1,290 pence early on Monday, while the Hong Kong line was up about 1% at HK$135.70. In New York, the ADR last closed up about 1.5% at $88.15, HSBC share-price data on its investor site showed. (HSBC)
The steady start leaves investors staring at Wednesday, when HSBC is due to publish its annual results for 2025. The bank has scheduled the release for 4 a.m. GMT, followed by a meeting with investors and analysts later in the morning, it said on its results page. (HSBC)
A board committee is also set to meet on Feb. 25 to consider the final results and whether to pay a fourth interim dividend for 2025, a regulatory announcement showed. If approved, the dividend would be payable on April 30 to shareholders of record on March 13, including ADS holders in New York. (Investegate)
Markets are also trying to price a fresh dose of U.S. trade-policy uncertainty into currencies and risk assets. The dollar slipped after the U.S. Supreme Court struck down a batch of President Donald Trump’s tariffs, with Trump responding by imposing a blanket 15% levy on imports, Reuters reported; “It weakens the dollar in the sense that it potentially benefits non-U.S. growth,” said Sim Moh Siong, a currency strategist at OCBC Bank in Singapore. (Reuters)
For HSBC, the immediate focus is the quality of earnings rather than the headline number. Investors will look for how much profit came from interest income, how fast costs are rising, and whether the bank is leaning harder into wealth fees as funding costs settle.
Net interest income — the difference between what a bank earns on loans and pays on deposits — will be a key line. It tends to fall when rates drop or when deposit competition forces banks to pay up for funding.
HSBC’s mix makes the read-through messy. It reports in dollars, runs big books in Hong Kong and the UK, and carries meaningful exposure to trade flows that can swing on policy headlines, not just on central-bank decisions.
The capital story is likely to matter as much as any revenue line. A clear dividend plan and any signal on buybacks could set the tone for the stock, particularly after a strong run left little room for soft guidance.
There are obvious ways this can go wrong. A cautious outlook, higher credit-loss provisions, or any hint that capital returns may be constrained would likely hit the shares, especially if markets turn risk-off again.
HSBC is scheduled to report on Feb. 25, according to Investing.com’s earnings calendar, giving traders one clear catalyst in an otherwise headline-driven week for bank stocks. (investing.com)
