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According to a report by Investing.com, Citigroup has downgraded its rating on U.S. stocks, global tech stocks, and European tech stocks from "overweight" to "neutral," citing that investor positions may further decline, while upgrading European stocks (excluding the UK) to "overweight."Citigroup stated that market sentiment around AI has significantly weakened, partly due to the midterm election results raising questions about the long-term trajectory of AI spending; the Nasdaq position may shift from neutral to net short, needing to drop about 5% before it truly turns negative.Citigroup remains optimistic about AI in the medium term but will wait for positions to clear and AI sentiment to stabilize before restoring the overweight rating.

HSBC Holdings stated that attacks on tankers or infrastructure leading to a daily disruption of 2 to 3 million barrels of oil supply will return the market to a state of shortage and put upward pressure on oil prices.

HSBC has lowered the target price for Arm Holdings from $230 to $215, while raising the target price for Visa from $375 to $465.

According to the Business Times, HSBC, Kinexys under JPMorgan, Mitsubishi UFJ Financial Group, Societe Generale-Forge under Société Générale, and Standard Chartered Bank have established a non-profit organization in Singapore called Global Layer One Organisation (GL1 Org) to promote the development and adoption of common standards and frameworks for tokenized financial markets.The organization will continue the work of the GL1 initiative by the Monetary Authority of Singapore, facilitating interoperability among different institutions, infrastructures, and jurisdictions.

HSBC announced the establishment of a global "Artificial Intelligence and Emerging Technology Research Institute" in the northern metropolitan area of Hong Kong, which is scheduled to begin operations in early 2027. The institute will focus on talent skill enhancement, artificial intelligence security and fraud detection, post-quantum cryptography, and blockchain, and will promote the application of innovative solutions across various business areas. HSBC has selected the Hong Kong University of Science and Technology as its main academic partner.

According to the South China Morning Post, HSBC Group CEO Georges Elhedery stated at the Hong Kong FinTech Week that since the official launch of its Hong Kong dollar stablecoin RedCoin over a week ago, it has attracted 50,000 users, with a long-term goal of millions of users. RedCoin was launched in October to over 3.3 million users of the PayMe app and will gradually be opened to HSBC and Hang Seng Bank customers in the future.Currently, RedCoin supports merchant payments and wallet top-ups. HSBC also plans to provide related services through HSBC HK Mobile Banking and support customers in purchasing tokenized money market funds and other asset products. In addition, HSBC announced that it will establish a global AI and emerging technology research institute in the northern metropolitan area of Hong Kong, expected to be operational by early 2027.

According to Caixin, Liao Yijian, Co-CEO of HSBC Asia and the Middle East, announced that HSBC will establish a global AI research institute in Hong Kong, expected to begin operations in early 2027, initially focusing on AI application cases, blockchain technology, and post-quantum cryptography.He revealed that HSBC currently has a team of 150 AI specialists in Hong Kong, and the scale is expected to double in the next two to three years.

According to Bloomberg, Uber has participated in a blockchain investment pilot with institutions such as HSBC and Franklin Templeton, utilizing HSBC's tokenized deposits to purchase a tokenized money market fund issued by Franklin Templeton on Thursday and selling it on Sunday, thereby earning an additional 1.5 days of returns.This model achieves investment and settlement of funds through a public blockchain, allowing companies to avoid selling assets before the traditional market closure on Fridays. This pilot also involves Tradeweb and Fireblocks, with liquidity and settlement provided by Canton Network.

HSBC assesses that, combined with the previous financing of 35 billion dollars corresponding to over 1 gigawatt, this transaction roughly supports the deployment of 1.7 to 1.8 gigawatts, which still falls short of the management's target of 5 gigawatts by 2027. Future attention needs to be paid to the continuation of funding.

HSBC Holdings (HSBC.N) fell 6.6% in pre-market trading due to third-quarter net profit not meeting market expectations.

The Hong Kong dollar stablecoin joint venture Anchorpoint, established by Standard Chartered Bank and Animoca Brands, stated that it will cautiously advance products aimed at retail users and has not confirmed a specific launch time. Anchorpoint's CEO Dominic Maffei declined to reiterate the previous timeline of "opening retail by the end of 2026" during a press conference on Friday, stating that the company would adopt a prudent strategy. He mentioned that the market should be built in a long-term and sustainable manner, and rushing to launch is "not reasonable."Anchorpoint launched its institutional-grade stablecoin product in August 2026. This statement comes as HSBC launched the Hong Kong dollar stablecoin RedCoin for its 3.3 million PayMe app users on Friday. Anchorpoint originates from the collaboration between Standard Chartered Bank, Animoca Brands, and telecommunications operator HKT, which was announced in February 2025. The three parties previously participated together in the Hong Kong stablecoin issuer sandbox in July 2024. Animoca is responsible for providing blockchain expertise and industry networks for the joint venture and promoting the application of the stablecoin in the Web3 ecosystem.

According to the Korea Herald, global investment bank Barclays plans to cut 5,000 jobs, about 5% of the company's total positions, while expanding the application of artificial intelligence. This includes 1,000 positions already cut in the first half of this year, with 60% of the layoffs coming from support departments such as developers. Barclays CEO Venkat Krishnamurthy stated in a conference call that the company will apply AI on a large scale, and said, "AI is not the cake, but the frosting on the cake."Previously, Barclays announced a cost-cutting plan in February, but some investors reacted negatively to the scale of costs shown in its semi-annual report. Among peers, HSBC is considering cutting up to 20,000 jobs over the next few years, while Standard Chartered plans to reduce support department positions by more than 15% by 2030.

Ripple's brokerage business Ripple Prime (formerly Hidden Road) announced that institutional clients can now trade swap contracts linked to over 100 stocks, commodities, and foreign exchange markets around the clock, using the USD stablecoin RLUSD issued by Ripple as collateral. These swap contracts track perpetual futures listed on the cryptocurrency derivatives exchange Hyperliquid by Trade.xyz, which have no expiration date and can be traded 24/7, allowing funds to build positions in assets like gold while traditional markets are closed. Ripple announced on October 15 that trading company Virtu is already using this service.HSBC's head of digital asset research, Daragh Maher, stated in a report sent to clients on Monday that this launch is "evolution rather than revolution." He wrote that it is a rapidly growing market but still far smaller than the traditional financial markets it tracks, and the product's appeal will be stronger only when the market has sufficient depth, allowing investors to express views and adjust risks while traditional markets are closed. HSBC expects early activity to focus on market makers, proprietary traders, and hedge funds seeking basis trading, rather than institutions looking for strategic hedging.The risks of weekend trading have already become apparent. Last Saturday, approximately $52 million in leveraged chip stock positions were forcibly liquidated within 10 minutes, with the sell-off spreading from Binance to Hyperliquid, while the underlying stocks were not trading, and the contracts lacked new stock market prices for reference. HSBC stated that Ripple's success depends on whether the service is cheaper, simpler, and can better utilize client collateral compared to existing brokers. The new swap business is offered under Ripple Prime's British Virgin Islands license, with plans to expand to more jurisdictions in the future.

Michael Roberts, Head of Corporate and Institutional Banking at HSBC Holdings, stated that as AI infrastructure development progresses, banks and investors are becoming more cautious in providing financing and are demanding higher investment returns. Global stock markets faced a sell-off due to falling stock prices of chip manufacturers, intensifying concerns about financing challenges. PwC estimates that by 2050, related investment spending in the Asia region alone could reach $8.2 trillion.

HSBC and Ant Group tested a system that allows AI agents to access digital services and complete small payments using tokenized bank deposits, with transactions settled in real-time on a blockchain test network. This test combined HSBC's tokenized deposit service, Ant Group's Anvita Flow network, and the layer two blockchain testing environment Jovay Testnet. HSBC provided settlement capabilities and real-time risk checks, while Ant Group's network coordinated service access and payments. In the demonstration, an AI agent selected a digital service and completed the payment, with both parties referring to such transactions as small payments, typically defined as being under $2. Both companies stated that this test was limited to technical validation and does not represent a commercial release or actual services for customers.Currently, several banks are testing AI agents to initiate financial transactions on behalf of clients. In March, Spain's Santander Bank completed AI agent-initiated payments in a controlled test using Mastercard's Agent Pay infrastructure, involving the bank's real-time payment system. In May, Swiss digital asset bank Sygnum tested AI agent-driven transactions on the main blockchain network, requiring client approval and signature for each transaction. Spain's CaixaBank also completed AI agent-initiated card transactions using Visa Intelligent Commerce with existing merchant payment systems. However, Augustus Bank CEO Ferdinand Dabitz believes that traditional clearing banks rely on systems designed for manual operations decades ago, making it difficult to adapt to the demands of automated, round-the-clock transactions.

HANetf and HSBC have launched pound and euro hedged Bitcoin exchange-traded commodities (ETC), claiming to be the world's first such products that provide Bitcoin exposure while reducing the impact of dollar exchange rate fluctuations.The pound hedged product GBTC is already trading on the London Stock Exchange, while the euro hedged product EBTC is trading on Xetra and the pan-European Paris Stock Exchange, with HSBC providing currency hedging services. The products are aimed at long-term Bitcoin investors concerned about a weakening dollar, allowing investors to avoid managing custody themselves.

HSBC officially announced that the name of its proposed Hong Kong dollar stablecoin will be "HSBC RedCoin." The bank plans to officially issue this Hong Kong dollar-denominated stablecoin in Hong Kong in the second half of this year, subject to relevant regulatory approvals.In the initial launch phase, the stablecoin will only be available through PayMe and the HSBC HK Mobile App.

European ETF and ETC platform HANetf has launched the Arrow Bitcoin EUR Hedged ETC (EBTC), which, according to HANetf, is the world's first Bitcoin ETC that offers euro exchange rate hedging.The product aims to provide euro-denominated investors with exposure to Bitcoin prices while reducing the impact of euro to dollar exchange rate fluctuations on investment returns, with the related currency hedging provided by HSBC.

HSBC raised the target price for SpaceX (SPCX.O) from $117 to $150.