FoggyIsle.XYZ | Market's view on Standard Chartered

Standard Chartered has reportedly attracted fresh takeover interest, with speculation pointing towards possible investors from the Gulf region, including Abu Dhabi or Saudi Arabia.
Significant concerns were raised due to a substantial drop in Standard Chartered’s third-quarter pre-tax profit, driven by its exposure to the Chinese property and banking sectors, as well as reduced investment value in China Bohai Bank.
The ongoing challenges in China’s economic environment and specific issues in the Chinese commercial real estate sector were identified as major concerns affecting Standard Chartered’s financial stability.
Positive remarks were made about the bank’s strong financial results, noting a 20% increase in income and a 29% rise in underlying profit before tax, along with a new $1 billion share buyback plan.
There is optimism about Standard Chartered’s medium and long-term prospects in China, despite current economic difficulties.
Discussions of a sell-off regarding Standard Chartered’s Aviation Leasing business before the full-year 2023 earnings release were mentioned, hinting at a potential special dividend.
Technical analysis by some stock watchers suggested potential upward movement in Standard Chartered’s stock price, supported by positive indicators like trading above the 200-day moving average and favourable RSI and stochastics readings.
The bank’s ongoing share buyback program and cost-cutting measures were highlighted as key strategic moves.
Some stock watchers expressed a general optimism about Standard Chartered’s performance, citing strong quarterly results and confidence in meeting financial targets for 2023.