According to reports, JPMorgan Chase reappeared in the Hong Kong stock market last week with a turnover of billions of yuan
JPMorgan Chase recently conducted a large-scale portfolio reshuffle in the Hong Kong stock market, involving a market value of over 1.1 trillion yuan, ranking its shareholding value at 14th place, which is less than 200 billion yuan. A month ago, JPMorgan also reshuffled more than 600 billion yuan, involving nearly 1,400 stocks, including Tencent, Alibaba, and other major stocks. In addition, HSBC took over some of JPMorgan Chase's shares and significantly increased its stake. JPMorgan plans to outsource its local custody business in Hong Kong and Taiwan by the end of the year
International investment bank JPMorgan Chase (JP Morgan) decided to outsource its local custody business in Hong Kong and Taiwan earlier this year, and its position in the Hong Kong stock market has recently undergone changes. According to mainland media reports, JPMorgan Chase saw another significant change in its positions last week, involving a market value of over 1.1 trillion yuan. After this change, the brokerage's ranking in terms of holding market value dropped from 4th to 14th, with the holding market value now less than 200 billion yuan.
In fact, JPMorgan Chase had already experienced a significant change in positions a month ago, involving funds exceeding 600 billion yuan. Data from the Central Clearing and Settlement System (CCASS) and the financial information website Webb-site showed that on July 22, JPMorgan Chase transferred nearly 1400 stocks with a total value of up to 680 billion yuan, accounting for over 33% of its CCASS holdings, while HSBC's position increased significantly on the same day, indicating that it had received most of the shares.
CCASS data showed that JPMorgan Chase reduced its holdings in 1399 stocks on that day, with a total value of 679.7 billion yuan. The stocks covered a wide range of Hong Kong stocks, with the largest transferred holdings including Tencent (700), Alibaba (9988), AIA (1299), Meituan (3690), NetEase (9999), Xiaomi (1810), BYD (1211), and others.
During the transfer, JPMorgan Chase's holdings in Tencent decreased from 10.3% to 6.47%, with a decrease in value of 133.2 billion yuan, while its holdings in Alibaba decreased from 10.19% to 2.79%, with a decrease in value of 42.8 billion yuan. After the transfer of shares, JPMorgan Chase's position value in CCASS still remained as high as 1.37 trillion yuan. On the same day, HSBC's position in CCASS significantly increased, with a net transfer of 1326 stocks involving a value of 674.2 billion yuan, most of which were consistent with the shares transferred by JPMorgan Chase. HSBC's holdings in Tencent increased by 3.76 percentage points, Alibaba's holdings increased by 2.81 percentage points, and AIA's holdings increased by 5.8 percentage points.
JPMorgan Chase previously stated that it would outsource its local custody business in Hong Kong and Taiwan, with HSBC Bank taking over the Hong Kong market and Standard Chartered Bank managing the Taiwan market, aiming to complete the transition by the end of this year. (Reporter: Song Xiaoqian)
