Analyst Ratings Published by HSBC Securities

12/7/23	Initiated	Hold	X
AA Alcoa HSBC Securities
$29
4/10/19	Downgrades	Hold Reduce	X
AAPL Apple HSBC Securities
$160 $180
12/4/18	Downgrades	Buy Hold	X
AAPL Apple HSBC Securities
5/28/21	Upgrades	Hold Buy	X
ABB ABB Ltd HSBC Securities
12/10/18	Upgrades	Hold Buy	X
ABB ABB Ltd HSBC Securities
6/5/24	Upgrades	Hold Buy	X
ABBV AbbVie HSBC Securities
$185
12/18/23	Downgrades	Buy Hold	X
ABBV AbbVie HSBC Securities
7/14/23	Initiated	Buy	X
ABBV AbbVie HSBC Securities
$167
2/14/25	Upgrades	Hold Buy	X
ABNB Airbnb HSBC Securities
5/9/24	Downgrades	Buy Hold	X
ABNB Airbnb HSBC Securities
$160 $156
2/9/21	Initiated	Buy	X
ABNB Airbnb HSBC Securities
$220
3/23/22	Upgrades	Reduce Hold	X
ACH Alum. Corp China HSBC Securities
1/18/19	Upgrades	Hold Buy	X
ACH Alum. Corp China HSBC Securities
9/29/23	Initiated	Hold	X
ADBE Adobe HSBC Securities
$519
11/29/24	Downgrades	Buy Hold	X
ADSK Autodesk HSBC Securities
$290
9/3/24	Upgrades	Hold Buy	X
ADSK Autodesk HSBC Securities
$242 $299
9/29/23	Initiated	Hold	X
ADSK Autodesk HSBC Securities
$214
6/9/23	Upgrades	Hold Buy	X
AEG Aegon N.V. HSBC Securities
1/8/21	Downgrades	Buy Hold	X
AEG AEGON N.V. HSBC Securities
7/5/18	Upgrades	Hold Buy	X
AEG AEGON N.V. HSBC Securities
12/13/24	Initiated	Buy	X
AES AES HSBC Securities
$17
3/5/25	Upgrades	Hold Buy	X
AIG American Intl HSBC Securities
$93
5/15/24	Downgrades	Buy Hold	X
AIG American Intl HSBC Securities
$86
12/28/23	Initiated	Buy	X
AIG American Intl HSBC Securities
$86
11/11/24	Upgrades	Hold Buy	X
AKAM Akamai Tech HSBC Securities
$121
7/24/24	Upgrades	Reduce Hold	X
AKAM Akamai Tech HSBC Securities
$96
2/15/24	Downgrades	Hold Reduce	X
AKAM Akamai Tech HSBC Securities
$109 $96
9/29/23	Initiated	Hold	X
AKAM Akamai Tech HSBC Securities
$106
3/15/22	Initiated	Buy	X
AL Air Lease HSBC Securities
$50
7/17/24	Downgrades	Buy Hold	X
ALB Albemarle HSBC Securities
$95
1/27/22	Upgrades	Hold Buy	X
ALB Albemarle HSBC Securities
$250 $280
12/10/18	Upgrades	Hold Buy	X
ALB Albemarle HSBC Securities
12/3/18	Initiated	Hold	X
ALB Albemarle HSBC Securities
3/28/24	Upgrades	Hold Buy	X
ALL Allstate HSBC Securities
$158 $190
12/28/23	Initiated	Hold	X
ALL Allstate HSBC Securities
$145
1/8/25	Downgrades	Buy Reduce	X
AMD Advanced Micro Devices HSBC Securities
$110
4/16/24	Upgrades	Hold Buy	X
AMD Advanced Micro HSBC Securities
$180 $225
10/24/22	Initiated	Hold	X
AMD Advanced Micro HSBC Securities
$60
9/6/23	Initiated	Buy	X
AMGN Amgen HSBC Securities
$320
6/1/21	Initiated	Buy	X
AMRS Amyris HSBC Securities
$20
12/14/23	Initiated	Buy	X
AMT American Tower HSBC Securities
$245
10/20/23	Upgrades	Hold Buy	X
AMX America Movil SA HSBC Securities
$21.50
4/10/23	Downgrades	Buy Hold	X
AMX America Movil SA HSBC Securities
$22.50 $21.50
4/8/19	Upgrades	Hold Buy	X
AMX America Movil SA HSBC Securities
11/2/23	Initiated	Buy	X
AMZN Amazon HSBC Securities
$160
8/1/19	Downgrades	Buy Hold	X
APD Air Products HSBC Securities
$217 $215
12/18/23	Initiated	Buy	X
APP AppLovin HSBC Securities
$53.20
6/3/24	Upgrades	Reduce Hold	X
ASAN Asana HSBC Securities
$16 $14
12/6/23	Downgrades	Hold Reduce	X
ASAN Asana HSBC Securities
$18
9/29/23	Initiated	Hold	X
ASAN Asana HSBC Securities
$18
2/22/24	Initiated	Buy	X
ASML ASML HSBC Securities
1/10/19	Upgrades	Reduce Hold	X
ASR Grupo Aeroportuario Del Sureste HSBC Securities
10/8/18	Downgrades	Hold Reduce	X
ASR Grupo Aeroportuario Del Sureste HSBC Securities
6/28/23	Downgrades	Buy Hold	X
ASX ASE Technology HSBC Securities
$6.47
9/6/23	Initiated	Buy	X
ATNM Actinum Pharma HSBC Securities
$11.60
11/16/23	Downgrades	Buy Reduce	X
ATUS Altice USA HSBC Securities
11/4/22	Upgrades	Hold Buy	X
ATUS Altice USA HSBC Securities
$6
8/10/22	Downgrades	Buy Hold	X
ATUS Altice USA HSBC Securities
$11
4/19/24	Downgrades	Hold Reduce	X
AU AngloGold Ashanti HSBC Securities
11/14/23	Upgrades	Reduce Hold	X
AU AngloGold Ashanti HSBC Securities
3/8/21	Upgrades	Reduce Hold	X
AU AngloGold Ashanti HSBC Securities
7/10/19	Upgrades	Reduce Hold	X
AUO AU Optronics HSBC Securities
3/23/18	Upgrades	Hold Buy	X
AWK American Water Works HSBC Securities
10/8/24	Downgrades	Buy Hold	X
AXP American Express HSBC Securities
$265 $270
12/18/23	Initiated	Buy	X
AZN AstraZeneca HSBC Securities
$78
7/14/23	Initiated	Buy	X
AZN AstraZeneca HSBC Securities
9/5/24	Downgrades	Buy Hold	X
AZUL Azul S.A. HSBC Securities
9/22/23	Initiated	Buy	X
AZUL Azul S.A. HSBC Securities
$12.30
1/7/25	Upgrades	Hold Buy	X
BAC Bank of America HSBC Securities
$50
3/28/24	Downgrades	Buy Hold	X
BAC Bank of America HSBC Securities
$38 $39
9/7/23	Initiated	Buy	X
BAC Bank of America HSBC Securities
$35
4/4/19	Initiated	Hold	X
BAC Bank of America HSBC Securities
$29
6/14/23	Upgrades	Hold Buy	X
BAK Braskem SA HSBC Securities
1/26/22	Upgrades	Hold Buy	X
BAK Braskem SA HSBC Securities
$22
4/22/21	Downgrades	Buy Hold	X
BAK Braskem SA HSBC Securities
$20
9/28/18	Downgrades	Buy Hold	X
BAK Braskem SA HSBC Securities
6/1/18	Upgrades	Hold Buy	X
BAK Braskem SA HSBC Securities
2/14/25	Upgrades	Hold Buy	X
BAM Brookfield Asset Mgmt HSBC Securities
10/6/23	Initiated	Buy	X
BAM Brookfield Asset Mgmt HSBC Securities
$39
4/21/21	Downgrades	Buy Hold	X
BAP Credicorp LTD HSBC Securities
$137
1/13/25	Upgrades	Hold Buy	X
BBD Banco Bradesco HSBC Securities
$2.80
1/8/24	Downgrades	Buy Hold	X
BBD Banco Bradesco HSBC Securities
5/1/23	Upgrades	Hold Buy	X
BBVA Banco Bilbao Vizcaya Argentaria HSBC Securities
1/15/19	Downgrades	Buy Hold	X
BBVA Banco Bilbao Vizcaya Argentaria HSBC Securities
3/21/18	Upgrades	Hold Buy	X
BBVA Banco Bilbao Vizcaya Argentaria HSBC Securities
12/19/23	Downgrades	Buy Hold	X
BCH Banco de Chile HSBC Securities
11/20/24	Downgrades	Buy Hold	X
BE Bloom Energy HSBC Securities
$24.50
6/23/22	Upgrades	Hold Buy	X
BEKE KE Holdings HSBC Securities
$13.70 $20.80
3/2/21	Initiated	Buy	X
BEKE KE Holdings HSBC Securities
$80
6/5/19	Downgrades	Buy Hold	X
BFR Banco Frances HSBC Securities
4/25/19	Upgrades	Hold Buy	X
BFR Banco Frances HSBC Securities
2/9/24	Upgrades	Hold Buy	X
BG Bunge HSBC Securities
$122 $105
9/15/23	Initiated	Hold	X
BG Bunge HSBC Securities
$122
9/24/24	Downgrades	Buy Hold	X
BIDU Baidu HSBC Securities
$100
12/12/18	Initiated	Buy	X
BIDU Baidu.com HSBC Securities
$213
9/6/23	Initiated	Buy	X
BIIB Biogen HSBC Securities
$360
10/19/21	Downgrades	Buy Hold	X
BILI Bilibili HSBC Securities
$76
10/23/23	Initiated	Buy	X
BKNG Booking Holdings HSBC Securities
$3650
4/26/22	Upgrades	Hold Buy	X
BKR Baker Hughes HSBC Securities
$38.30
11/6/24	Downgrades	Buy Hold	X
BLDP Ballard Power HSBC Securities
10/24/23	Upgrades	Hold Buy	X
BLDP Ballard Power HSBC Securities
$4.50
12/11/23	Downgrades	Hold Reduce	X
BLUE Bluebirdbio HSBC Securities
9/6/23	Initiated	Buy	X
BLUE Bluebirdbio HSBC Securities
$4.21
6/5/19	Downgrades	Buy Hold	X
BMA Banco Macro HSBC Securities
2/26/18	Upgrades	Hold Buy	X
BMA Banco Macro HSBC Securities
8/9/24	Downgrades	Buy Hold	X
BMBL Bumble Inc. HSBC Securities
9/26/23	Initiated	Buy	X
BMBL Bumble Inc. HSBC Securities
$20.30
10/27/23	Upgrades	Reduce Hold	X
BMY Bristol-Myers HSBC Securities
$55 $53
7/14/23	Initiated	Reduce	X
BMY Bristol-Myers HSBC Securities
$56
10/16/23	Downgrades	Buy Hold	X
BNTX BioNTech HSBC Securities
$124 $111
7/14/23	Initiated	Buy	X
BNTX BioNTech HSBC Securities
$124
8/8/24	Downgrades	Buy Hold	X
BP BP HSBC Securities
6/24/21	Downgrades	Buy Hold	X
BP BP HSBC Securities
4/16/21	Upgrades	Hold Buy	X
BP BP HSBC Securities
12/19/23	Downgrades	Buy Hold	X
BSAC Banco Santander Chile HSBC Securities
12/11/18	Downgrades	Buy Hold	X
BSBR Banco Santander Brasil HSBC Securities
11/2/21	Downgrades	Buy Hold	X
BSMX Banco Santander Mexico HSBC Securities
$7.50
6/10/21	Upgrades	Hold Buy	X
BSMX Banco Santander Mexico HSBC Securities
3/30/21	Downgrades	Buy Hold	X
BSMX Banco Santander Mexico HSBC Securities
11/9/23	Upgrades	Hold Buy	X
BUD Anheuser-Busch InBev HSBC Securities
5/10/23	Downgrades	Buy Hold	X
BUD Anheuser-Busch InBev HSBC Securities
9/6/22	Upgrades	Hold Buy	X
BUD Anheuser-Busch InBev HSBC Securities
10/6/23	Initiated	Hold	X
BX Blackstone HSBC Securities
$113
1/21/22	Upgrades	Reduce Hold	X
BYND Beyond Meat HSBC Securities
$62
11/30/21	Initiated	Reduce	X
BYND Beyond Meat HSBC Securities
$62
9/7/23	Initiated	Hold	X
C Citigroup HSBC Securities
$43
4/11/18	Upgrades	Hold Buy	X
C Citigroup HSBC Securities
$82 $85
11/20/23	Initiated	Hold	X
CAT Caterpillar HSBC Securities
$250
3/5/25	Upgrades	Hold Buy	X
CB Chubb HSBC Securities
$323
4/4/24	Downgrades	Buy Hold	X
CB Chubb HSBC Securities
$275 $270
12/28/23	Initiated	Buy	X
CB Chubb HSBC Securities
$263
1/8/19	Initiated	Buy	X
CC Chemours HSBC Securities
$52
5/19/21	Upgrades	Hold Buy	X
CCEP Coca-Cola European Partners HSBC Securities
$55 $72
12/14/23	Initiated	Hold	X
CCI Crown Castle HSBC Securities
$110
1/26/21	Resumed	Reduce	X
CCL Carnival HSBC Securities
10/27/23	Upgrades	Hold Buy	X
CCU Compania Cervecerias Unidas HSBC Securities
$18 $15
11/14/22	Downgrades	Buy Hold	X
CCU Compania Cervecerias Unidas HSBC Securities
$13
6/1/18	Upgrades	Reduce Hold	X
CCU Compania Cervecerias Unidas HSBC Securities
4/3/23	Upgrades	Hold Buy	X
CEA China Eastern Airlines HSBC Securities
1/17/19	Upgrades	Reduce Buy	X
CEA China Eastern Airlines HSBC Securities
2/21/23	Downgrades	Buy Hold	X
CF CF Industries HSBC Securities
$104 $90
2/21/25	Downgrades	Buy Hold	X
CGNX Cognex HSBC Securities
$33
5/7/24	Upgrades	Hold Buy	X
CGNX Cognex HSBC Securities
1/14/21	Upgrades	Hold Buy	X
CGNX Cognex HSBC Securities
$77 $110
9/22/23	Initiated	Hold	X
CHD Church & Dwight HSBC Securities
$102
10/23/23	Initiated	Hold	X
CHH Choice Hotels HSBC Securities
$131
3/5/18	Upgrades	Hold Buy	X
CHL China Mobile HSBC Securities
12/4/23	Initiated	Hold	X
CHPT ChargePoint HSBC Securities
$2
1/8/24	Downgrades	Buy Hold	X
CIB Bancolombia S.A. HSBC Securities
1/10/25	Downgrades	Buy Hold	X
CIG Cemig HSBC Securities
11/1/23	Upgrades	Hold Buy	X
CIG Cemig HSBC Securities
$2.90
7/26/24	Downgrades	Buy Hold	X
CL Colgate-Palmolive HSBC Securities
9/22/23	Initiated	Buy	X
CL Colgate-Palmolive HSBC Securities
$84
9/22/23	Initiated	Hold	X
CLX Clorox HSBC Securities
$146
1/14/25	Upgrades	Reduce Hold	X
COF Capital One HSBC Securities
$176
9/22/23	Initiated	Hold	X
COST Costco HSBC Securities
$600
4/11/18	Initiated	Hold	X
CPAC Cementos Pacasmayo HSBC Securities
$13
10/7/22	Initiated	Buy	X
CPNG Coupang HSBC Securities
$27.80
12/4/23	Initiated	Hold	X
CPRT Copart HSBC Securities
$51
11/11/24	Resumed	Buy	X
CRH CRH Plc. HSBC Securities
$116
9/15/23	Initiated	Buy	X
CRM Salesforce HSBC Securities
$267
11/27/24	Downgrades	Buy Hold	X
CRWD CrowdStrike HSBC Securities
$347
8/30/24	Upgrades	Hold Buy	X
CRWD CrowdStrike HSBC Securities
$302 $339
7/23/24	Downgrades	Buy Hold	X
CRWD CrowdStrike HSBC Securities
$388 $302
9/15/23	Initiated	Buy	X
CRWD CrowdStrike HSBC Securities
$200
8/16/24	Upgrades	Hold Buy	X
CSCO Cisco HSBC Securities
$46 $58
5/4/23	Upgrades	Hold Buy	X
CTSH Cognizant Tech HSBC Securities
$75
8/17/22	Downgrades	Buy Hold	X
CTSH Cognizant Tech HSBC Securities
$90 $79
7/22/21	Upgrades	Hold Buy	X
CTSH Cognizant Tech HSBC Securities
$80 $90
2/5/21	Downgrades	Buy Hold	X
CTSH Cognizant Tech HSBC Securities
$80
7/23/19	Downgrades	Buy Hold	X
CTSH Cognizant Tech HSBC Securities
$72 $70
9/18/18	Upgrades	Hold Buy	X
CTSH Cognizant Tech HSBC Securities
12/22/23	Initiated	Buy	X
CVS CVS Health HSBC Securities
$94
5/23/23	Upgrades	Hold Buy	X
CVX Chevron HSBC Securities
$189
10/24/22	Downgrades	Buy Hold	X
CVX Chevron HSBC Securities
$177
7/20/22	Upgrades	Hold Buy	X
CVX Chevron HSBC Securities
$183 $167
7/22/21	Downgrades	Buy Hold	X
CVX Chevron HSBC Securities
$127 $112
1/14/21	Upgrades	Hold Buy	X
CVX Chevron HSBC Securities
$103 $105
1/14/19	Downgrades	Buy Hold	X
CVX Chevron HSBC Securities
9/12/18	Upgrades	Hold Buy	X
CVX Chevron HSBC Securities
8/16/18	Downgrades	Buy Hold	X
CX CEMEX S.A. HSBC Securities
5/1/24	Upgrades	Hold Buy	X
DAVA Endava HSBC Securities
$45
1/8/24	Downgrades	Buy Hold	X
DAVA Endava HSBC Securities
$68 $80
7/17/23	Initiated	Buy	X
DAVA Endava HSBC Securities
$74
1/13/21	Downgrades	Buy Hold	X
DD DuPont HSBC Securities
$74
8/19/24	Downgrades	Buy Hold	X
DE Deere HSBC Securities
9/15/23	Initiated	Buy	X
DE Deere HSBC Securities
$486
1/19/24	Downgrades	Buy Hold	X
DFS Discover Financial Services HSBC Securities
$121 $107
10/16/23	Upgrades	Reduce Hold	X
DG Dollar General HSBC Securities
$102
9/22/23	Initiated	Reduce	X
DG Dollar General HSBC Securities
$102
4/17/24	Upgrades	Hold Buy	X
DHR Danaher HSBC Securities
$280
12/18/23	Initiated	Hold	X
DHR Danaher HSBC Securities
7/8/21	Upgrades	Reduce Hold	X
DISH DISH Network HSBC Securities
$40
1/25/19	Downgrades	Hold Reduce	X
DISH DISH Network HSBC Securities
4/13/23	Downgrades	Buy Hold	X
DLO dLocal Limited HSBC Securities
$16
10/4/24	Upgrades	Reduce Hold	X
DLR Digital Realty Trust HSBC Securities
$124 $160
12/1/23	Initiated	Reduce	X
DLR Digital Realty Trust HSBC Securities
$112
7/23/24	Upgrades	Hold Buy	X
DNUT Krispy Kreme, Inc. HSBC Securities
$14
8/19/22	Downgrades	Buy Hold	X
DNUT Krispy Kreme, Inc. HSBC Securities
$17 $15
5/13/22	Upgrades	Hold Buy	X
DNUT Krispy Kreme, Inc. HSBC Securities
$17
9/21/18	Upgrades	Hold Buy	X
DO Diamond Offshore HSBC Securities
12/6/24	Downgrades	Hold Reduce	X
DOCU DocuSign HSBC Securities
9/27/23	Upgrades	Reduce Hold	X
DOCU DocuSign HSBC Securities
$42
9/15/23	Initiated	Reduce	X
DOCU DocuSign HSBC Securities
$42
4/3/19	Initiated	Hold	X
DOW Dow HSBC Securities
$53
9/24/24	Downgrades	Hold Reduce	X
DOYU DouYu HSBC Securities
10/2/24	Upgrades	Hold Buy	X
DQ Daqo New Energy HSBC Securities
8/27/24	Upgrades	Reduce Hold	X
DQ Daqo New Energy HSBC Securities
$15
6/10/21	Initiated	Buy	X
DQ Daqo New Energy HSBC Securities
$112
4/4/18	Upgrades	Hold Buy	X
DWDP DowDuPont HSBC Securities
7/25/23	Initiated	Hold	X
EA Electronic Arts HSBC Securities
$128
7/18/23	Downgrades	Buy Hold	X
E Eni S.p.A. HSBC Securities
3/14/23	Upgrades	Hold Buy	X
E Eni S.p.A. HSBC Securities
12/1/22	Downgrades	Buy Hold	X
E Eni S.p.A. HSBC Securities
3/21/22	Upgrades	Hold Buy	X
E Eni S.p.A. HSBC Securities
7/22/21	Downgrades	Buy Hold	X
E Eni S.p.A. HSBC Securities
3/15/21	Upgrades	Hold Buy	X
E Eni S.p.A. HSBC Securities
2/10/23	Downgrades	Buy Hold	X
EC Ecopetrol HSBC Securities
$12.50 $12
5/29/24	Resumed	Buy	X
EDU New Oriental Education & Technology HSBC Securities
$110
6/18/21	Downgrades	Buy Hold	X
EDU New Oriental Education & Technology HSBC Securities
$18.70 $9.20
10/16/24	Downgrades	Buy Hold	X
EL Estee Lauder HSBC Securities
$100
11/28/23	Initiated	Buy	X
EL Estee Lauder HSBC Securities
$180
6/15/23	Upgrades	Hold Buy	X
EMR Emerson HSBC Securities
$79 $100
11/8/24	Downgrades	Buy Hold	X
ENPH Enphase Energy HSBC Securities
$81
6/10/24	Upgrades	Hold Buy	X
ENPH Enphase Energy HSBC Securities
$166
10/27/23	Downgrades	Buy Hold	X
ENPH Enphase Energy HSBC Securities
$86
1/8/24	Upgrades	Hold Buy	X
EPAM EPAM Systems HSBC Securities
7/17/23	Initiated	Hold	X
EPAM EPAM Systems HSBC Securities
$255
10/4/24	Upgrades	Hold Buy	X
EQIX Equinix HSBC Securities
$865 $1000
3/20/24	Downgrades	Buy Hold	X
EQIX Equinix HSBC Securities
12/1/23	Initiated	Buy	X
EQIX Equinix HSBC Securities
$875
2/10/25	Upgrades	Hold Buy	X
EQNR Equinor HSBC Securities
12/1/22	Downgrades	Buy Hold	X
EQNR Equinor HSBC Securities
2/6/24	Downgrades	Buy Hold	X
ERJ Embraer SA HSBC Securities
$18 $19
3/8/19	Upgrades	Hold Buy	X
ESV Ensco HSBC Securities
6/7/18	Downgrades	Buy Hold	X
ESV Ensco HSBC Securities
6/18/21	Upgrades	Hold Buy	X
ESYJY easyJet HSBC Securities
2/16/21	Upgrades	Hold Buy	X
ETN Eaton HSBC Securities
$103 $140
2/7/25	Upgrades	Hold Buy	X
EXPE Expedia Group HSBC Securities
$215
10/23/23	Initiated	Hold	X
EXPE Expedia Group HSBC Securities
$114
12/4/23	Initiated	Hold	X
F Ford Motor HSBC Securities
$11.30
12/11/24	Downgrades	Hold Reduce	X
FAST Fastenal HSBC Securities
$70
9/15/23	Initiated	Hold	X
FAST Fastenal HSBC Securities
$59
3/16/18	Downgrades	Buy Hold	X
FBR Fibria Celulose S.A. HSBC Securities
10/26/18	Downgrades	Buy Hold	X
FCAU Fiat Chrysler HSBC Securities
5/22/18	Initiated	Buy	X
FCAU Fiat Chrysler HSBC Securities
9/20/24	Downgrades	Buy Hold	X
FDX FedEx HSBC Securities
$300
9/29/23	Initiated	Buy	X
FDX FedEx HSBC Securities
$330
9/29/23	Initiated	Reduce	X
FICO Fair Isaac HSBC Securities
$729
11/24/23	Upgrades	Reduce Hold	X
FMS Fresenius Medical HSBC Securities
8/28/18	Upgrades	Hold Buy	X
FMS Fresenius Medical HSBC Securities
2/9/24	Upgrades	Hold Buy	X
FMX FEMSA HSBC Securities
$124 $152
6/7/23	Upgrades	Reduce Hold	X
FMX FEMSA HSBC Securities
$84 $112
5/5/22	Downgrades	Hold Reduce	X
FMX FEMSA HSBC Securities
$68
1/20/22	Downgrades	Buy Hold	X
FMX FEMSA HSBC Securities
$95
10/29/24	Upgrades	Hold Buy	X
FTI TechnipFMC HSBC Securities
$32
2/23/24	Downgrades	Buy Hold	X
FTI TechnipFMC HSBC Securities
10/25/22	Upgrades	Hold Buy	X
FTI TechnipFMC HSBC Securities
$13.50
3/22/19	Upgrades	Hold Buy	X
FTI TechnipFMC HSBC Securities
11/26/18	Upgrades	Reduce Hold	X
FTI TechnipFMC HSBC Securities
11/11/24	Upgrades	Hold Buy	X
FTNT Fortinet HSBC Securities
$83 $111
8/7/24	Upgrades	Reduce Hold	X
FTNT Fortinet HSBC Securities
$59
2/7/24	Downgrades	Hold Reduce	X
FTNT Fortinet HSBC Securities
$57
11/6/23	Downgrades	Buy Hold	X
FTNT Fortinet HSBC Securities
$75 $49
9/29/23	Initiated	Buy	X
FTNT Fortinet HSBC Securities
$75
6/12/23	Resumed	Buy	X
GDS GDS Holdings HSBC Securities
$28.80 $13.60
2/15/24	Initiated	Buy	X
GEHC GE HealthCare HSBC Securities
$100
8/17/18	Upgrades	Hold Buy	X
GFI Gold Fields HSBC Securities
2/15/23	Reiterated	Hold	X
GFS GlobalFoundries HSBC Securities
$55 $65
4/24/24	Upgrades	Reduce Hold	X
GILD Gilead Sciences HSBC Securities
$69
9/6/23	Initiated	Reduce	X
GILD Gilead Sciences HSBC Securities
$71
9/22/23	Initiated	Hold	X
GIS General Mills HSBC Securities
$74
2/2/23	Initiated	Buy	X
GLOB Globant HSBC Securities
$240
4/20/18	Initiated	Hold	X
GLOB Globant HSBC Securities
1/30/25	Upgrades	Hold Buy	X
GLW Corning HSBC Securities
$51 $60
7/9/24	Upgrades	Reduce Hold	X
GLW Corning HSBC Securities
$37
12/11/24	Downgrades	Buy Hold	X
GM General Motors HSBC Securities
$58
12/4/23	Initiated	Buy	X
GM General Motors HSBC Securities
$41.30
7/14/23	Initiated	Buy	X
GMAB Genmab HSBC Securities
9/5/24	Upgrades	Reduce Hold	X
GOL GOL Inteligentes S.A. (GOLLQ) HSBC Securities
1/30/24	Downgrades	Hold Reduce	X
GOL GOL Inteligentes S.A. (GOLLQ) HSBC Securities
6/13/23	Downgrades	Buy Hold	X
GOL GOL Linhas Aereas Inteligentes S.A. HSBC Securities
11/30/18	Downgrades	Buy Hold	X
GOL GOL Linhas Areas Inteligentes S.A. HSBC Securities
5/20/19	Initiated	Buy	X
GOOS Canada Goose HSBC Securities
12/5/24	Downgrades	Buy Hold	X
GRAB Grab HSBC Securities
$4.25 $5.50
3/11/21	Upgrades	Hold Buy	X
GRFS Grifols, S.A. HSBC Securities
11/26/24	Downgrades	Buy Hold	X
GS Goldman Sachs HSBC Securities
$569 $608
9/7/23	Initiated	Buy	X
GS Goldman Sachs HSBC Securities
$403
11/7/23	Upgrades	Hold Buy	X
GSH Guangshen Railway Co. Ltd HSBC Securities
3/29/19	Downgrades	Buy Hold	X
GSH Guangshen Railway Co. Ltd HSBC Securities
7/14/23	Initiated	Reduce	X
GSK GlaxoSmithKline HSBC Securities
12/4/23	Initiated	Buy	X
GT Goodyear Tire HSBC Securities
$16.80
11/1/24	Downgrades	Buy Hold	X
H Hyatt Hotels HSBC Securities
$156
10/23/23	Initiated	Buy	X
H Hyatt Hotels HSBC Securities
$133
4/27/22	Upgrades	Hold Buy	X
HAL Halliburton HSBC Securities
$36.60 $41.60
2/26/25	Upgrades	Reduce Hold	X
HD Home Depot HSBC Securities
$356 $410
2/21/24	Downgrades	Hold Reduce	X
HD Home Depot HSBC Securities
$323
9/22/23	Initiated	Hold	X
HD Home Depot HSBC Securities
$365
1/22/25	Downgrades	Buy Hold	X
HEPS Hepsiburada HSBC Securities
$3.50
3/5/25	Downgrades	Buy Hold	X
HLN Haleon plc HSBC Securities
4/17/24	Initiated	Buy	X
HLN Haleon plc HSBC Securities
10/23/23	Initiated	Buy	X
HLT Hilton HSBC Securities
$191
4/19/24	Downgrades	Hold Reduce	X
HMY Harmony Gold HSBC Securities
11/14/23	Upgrades	Reduce Hold	X
HMY Harmony Gold HSBC Securities
12/11/24	Upgrades	Hold Buy	X
HON Honeywell HSBC Securities
$290
10/2/18	Downgrades	Buy Hold	X
HON Honeywell HSBC Securities
$162
11/29/24	Downgrades	Buy Hold	X
HPQ HP Inc. HSBC Securities
$39 $38
2/14/24	Upgrades	Hold Buy	X
HPQ HP Inc. HSBC Securities
$30 $33
10/23/23	Initiated	Buy	X
HST Host Hotels HSBC Securities
$21
9/22/23	Initiated	Buy	X
HSY Hershey Foods HSBC Securities
$248
2/5/25	Downgrades	Buy Hold	X
HTHT H World Group HSBC Securities
$32.40
10/11/24	Downgrades	Buy Hold	X
HUYA HUYA HSBC Securities
2/28/25	Downgrades	Buy Hold	X
ILMN Illumina HSBC Securities
$100
10/17/24	Upgrades	Hold Buy	X
ILMN Illumina HSBC Securities
$180
1/16/24	Downgrades	Buy Hold	X
ILMN Illumina HSBC Securities
12/9/24	Upgrades	Hold Buy	X
INFY Infosys HSBC Securities
4/1/24	Upgrades	Hold Buy	X
INFY Infosys HSBC Securities
2/6/24	Downgrades	Buy Hold	X
INFY Infosys HSBC Securities
6/1/22	Upgrades	Hold Buy	X
INFY Infosys HSBC Securities
1/21/25	Upgrades	Reduce Hold	X
INTC Intel HSBC Securities
1/26/24	Reiterated	Hold	X
INTC Intel HSBC Securities
$46 $44
10/27/23	Upgrades	Reduce Hold	X
INTC Intel HSBC Securities
$27 $33
10/24/22	Initiated	Reduce	X
INTC Intel HSBC Securities
$23
9/29/23	Initiated	Hold	X
INTU Intuit HSBC Securities
$520
9/29/23	Initiated	Buy	X
INVH Invitation Homes HSBC Securities
$38
1/16/25	Upgrades	Reduce Hold	X
IQ iQIYI HSBC Securities
$2.15
7/23/24	Downgrades	Hold Reduce	X
IQ iQIYI HSBC Securities
$4.70 $3
1/13/21	Downgrades	Buy Hold	X
IQ iQIYI HSBC Securities
$21.60
12/12/18	Initiated	Hold	X
IQ iQIYI HSBC Securities
9/6/23	Initiated	Buy	X
IQV IQVIA HSBC Securities
$260
11/17/23	Initiated	Buy	X
ISRG Intuitive Surgical HSBC Securities
$318
1/13/25	Upgrades	Hold Buy	X
ITUB Itau Unibanco Holding SA HSBC Securities
1/8/24	Downgrades	Buy Hold	X
ITUB Itau Unibanco Holding SA HSBC Securities
5/17/19	Upgrades	Reduce Hold	X
ITUB Itau Unibanco Holding SA HSBC Securities
9/15/23	Initiated	Hold	X
J Jacobs Engineering HSBC Securities
$149
1/31/24	Downgrades	Buy Hold	X
JCI Johnson Controls HSBC Securities
$60
9/27/23	Upgrades	Hold Buy	X
JCI Johnson Controls HSBC Securities
$58 $69
1/11/21	Downgrades	Buy Hold	X
JCI Johnson Controls HSBC Securities
$52
2/5/24	Downgrades	Buy Hold	X
JKS JinkoSolar HSBC Securities
9/29/22	Initiated	Buy	X
JKS JinkoSolar HSBC Securities
$76
9/28/22	Initiated	Buy	X
JKS JinkoSolar HSBC Securities
$76
4/18/24	Upgrades	Hold Buy	X
JNJ Johnson & Johnson HSBC Securities
$170
9/6/23	Initiated	Hold	X
JNJ Johnson & Johnson HSBC Securities
$175
9/7/23	Initiated	Hold	X
JPM JPMorgan Chase HSBC Securities
$159
4/11/18	Initiated	Hold	X
JPM JPMorgan Chase HSBC Securities
$111
12/22/23	Initiated	Hold	X
KDP Keurig Dr Pepper HSBC Securities
$37
9/22/23	Initiated	Hold	X
KHC Kraft Heinz HSBC Securities
$38
1/30/25	Downgrades	Buy Hold	X
KKR KKR HSBC Securities
$173
9/18/24	Initiated	Buy	X
KKR KKR HSBC Securities
$148
9/22/23	Initiated	Hold	X
KMB Kimberly-Clark HSBC Securities
$133
3/12/19	Downgrades	Buy Hold	X
KO Coca-Cola HSBC Securities
$64 $50
6/7/23	Upgrades	Hold Buy	X
KOF Coca-Cola FEMSA HSBC Securities
$74 $108
1/20/22	Downgrades	Buy Hold	X
KOF Coca-Cola FEMSA HSBC Securities
$64
7/9/18	Initiated	Buy	X
KORS Michael Kors HSBC Securities
$88
9/22/23	Initiated	Hold	X
KR Kroger HSBC Securities
$52
6/1/23	Initiated	Hold	X
KVUE Kenvue HSBC Securities
$27
1/27/22	Initiated	Buy	X
LAC Lithium Americas HSBC Securities
$36
3/18/24	Downgrades	Buy Hold	X
LBTYA Liberty Global HSBC Securities
$26 $20
1/22/19	Downgrades	Buy Hold	X
LFC China Life Insurance HSBC Securities
9/6/18	Downgrades	Hold Reduce	X
LFC China Life Insurance HSBC Securities
10/30/24	Upgrades	Hold Buy	X
LH Labcorp Holdings Inc. HSBC Securities
9/6/23	Initiated	Hold	X
LH Laboratory Corp HSBC Securities
$210
9/6/23	Initiated	Hold	X
LIVN LivaNova HSBC Securities
$52
7/14/23	Initiated	Buy	X
LLY Eli Lilly HSBC Securities
$560
5/8/18	Upgrades	Hold Buy	X
LOMA Loma Negra HSBC Securities
9/22/23	Initiated	Hold	X
LOW Lowe’s HSBC Securities
$250
4/24/19	Downgrades	Buy Hold	X
LPL LG Display HSBC Securities
12/3/18	Initiated	Buy	X
LTHM Livent HSBC Securities
11/25/22	Downgrades	Buy Hold	X
LU Lufax HSBC Securities
$2
6/6/24	Upgrades	Hold Buy	X
LULU lululemon athletica HSBC Securities
$425
1/22/24	Downgrades	Buy Hold	X
LULU lululemon athletica HSBC Securities
$500
9/18/23	Initiated	Buy	X
LULU lululemon athletica HSBC Securities
$500
4/17/19	Downgrades	Buy Hold	X
LVS Las Vegas Sands HSBC Securities
10/16/18	Upgrades	Hold Buy	X
LVS Las Vegas Sands HSBC Securities
12/10/21	Upgrades	Hold Buy	X
LYB LyondellBasell HSBC Securities
$112
11/2/18	Upgrades	Hold Buy	X
LYB LyondellBasell HSBC Securities
4/11/19	Initiated	Hold	X
LYFT Lyft HSBC Securities
$60
10/23/23	Initiated	Buy	X
MAR Marriott HSBC Securities
$233
9/22/23	Initiated	Buy	X
MDLZ Mondelez Int’l HSBC Securities
$84
1/19/21	Reiterated	Buy	X
MELI MercadoLibre HSBC Securities
$1800 $2100
7/27/23	Upgrades	Reduce Hold	X
META Meta Platforms HSBC Securities
$285
2/3/23	Downgrades	Hold Reduce	X
META Meta Platforms HSBC Securities
$110
10/23/23	Initiated	Buy	X
MGM MGM Resorts HSBC Securities
$49
9/22/23	Initiated	Hold	X
MKC McCormick HSBC Securities
$86
7/15/21	Downgrades	Buy Hold	X
MLCO Melco Resorts & Entertainment HSBC Securities
$21.10 $16.90
12/11/24	Upgrades	Hold Buy	X
MLM Martin Marietta HSBC Securities
$690
2/22/24	Upgrades	Reduce Hold	X
MLM Martin Marietta HSBC Securities
$376 $543
9/15/23	Initiated	Reduce	X
MLM Martin Marietta HSBC Securities
$376
5/10/24	Upgrades	Hold Buy	X
MMM 3M HSBC Securities
$115
9/15/23	Initiated	Hold	X
MMM 3M HSBC Securities
$109
2/26/25	Initiated	Buy	X
MNSO Miniso Group HSBC Securities
$29.30
8/14/23	Initiated	Buy	X
MNST Monster Beverage HSBC Securities
$72
7/26/23	Upgrades	Reduce Hold	X
MOS Mosaic HSBC Securities
$40
2/21/23	Downgrades	Hold Reduce	X
MOS Mosaic HSBC Securities
$45 $43
3/7/22	Downgrades	Buy Hold	X
MOS Mosaic HSBC Securities
$57
12/4/24	Upgrades	Hold Buy	X
MRK Merck HSBC Securities
$130
7/14/23	Initiated	Hold	X
MRK Merck HSBC Securities
$123
11/18/24	Upgrades	Hold Buy	X
MRNA Moderna HSBC Securities
$58
8/28/24	Upgrades	Reduce Hold	X
MRNA Moderna HSBC Securities
$82
2/26/24	Downgrades	Hold Reduce	X
MRNA Moderna HSBC Securities
$75 $86
11/3/23	Upgrades	Reduce Hold	X
MRNA Moderna HSBC Securities
$89 $69
7/14/23	Initiated	Reduce	X
MRNA Moderna HSBC Securities
$97
11/26/24	Downgrades	Buy Hold	X
MS Morgan Stanley HSBC Securities
10/4/24	Upgrades	Hold Buy	X
MS Morgan Stanley HSBC Securities
$118
9/7/23	Initiated	Buy	X
MS Morgan Stanley HSBC Securities
$99
10/2/18	Downgrades	Buy Hold	X
MS Morgan Stanley HSBC Securities
10/26/23	Upgrades	Hold Buy	X
MSFT Microsoft HSBC Securities
$347 $413
9/15/23	Initiated	Hold	X
MSFT Microsoft HSBC Securities
$347
2/6/25	Downgrades	Buy Hold	X
MTCH Match Group HSBC Securities
8/5/24	Upgrades	Hold Buy	X
MTCH Match Group HSBC Securities
$43.20
9/26/23	Initiated	Hold	X
MTCH Match Group HSBC Securities
$47.10
3/19/21	Upgrades	Hold Buy	X
NGG National Grid HSBC Securities
1/7/25	Downgrades	Buy Hold	X
NIO NIO HSBC Securities
7/9/21	Upgrades	Hold Buy	X
NIO NIO HSBC Securities
$69
1/22/24	Reiterated	Hold	X
NKE NIKE HSBC Securities
$120 $115
9/18/23	Reiterated	Hold	X
NKE NIKE HSBC Securities
$120 $113
1/10/22	Downgrades	Buy Hold	X
NKE NIKE HSBC Securities
$184 $182
2/25/21	Upgrades	Hold Buy	X
NKE NIKE HSBC Securities
$125 $158
1/9/19	Upgrades	Hold Buy	X
NKE NIKE HSBC Securities
10/3/18	Downgrades	Buy Hold	X
NKE NIKE HSBC Securities
4/27/18	Upgrades	Hold Buy	X
NKE NIKE HSBC Securities
$77
9/15/23	Initiated	Buy	X
NOW ServiceNow HSBC Securities
$704
10/21/22	Downgrades	Buy Hold	X
NTR Nutrien HSBC Securities
2/23/21	Downgrades	Buy Hold	X
NTR Nutrien HSBC Securities
2/22/24	Reiterated	Buy	X
NVDA NVIDIA HSBC Securities
$835 $880
8/21/23	Reiterated	Buy	X
NVDA NVIDIA HSBC Securities
$600 $780
4/18/23	Upgrades	Reduce Buy	X
NVDA NVIDIA HSBC Securities
$175 $355
12/15/22	Initiated	Reduce	X
NVDA NVIDIA HSBC Securities
$136
7/14/23	Initiated	Buy	X
NVO Novo Nordisk A/S HSBC Securities
12/4/24	Downgrades	Hold Reduce	X
NVS Novartis AG HSBC Securities
12/18/23	Downgrades	Buy Hold	X
NVS Novartis AG HSBC Securities
7/14/23	Initiated	Buy	X
NVS Novartis AG HSBC Securities
5/29/18	Downgrades	Buy Hold	X
NVS Novartis AG HSBC Securities
9/19/23	Downgrades	Buy Hold	X
NWG NatWest Group plc HSBC Securities
7/14/23	Initiated	Buy	X
NXT Nextracker HSBC Securities
$46
8/18/22	Resumed	Hold	X
OCFT OneConnect Financial HSBC Securities
1/10/19	Upgrades	Hold Buy	X
OMAB Grupo Aeroportuario HSBC Securities
3/11/25	Upgrades	Hold Buy	X
ONON On HSBC Securities
$58
9/5/24	Initiated	Hold	X
ONON On HSBC Securities
$52
9/15/23	Initiated	Buy	X
ORCL Oracle HSBC Securities
$144
3/29/21	Upgrades	Reduce Hold	X
OTIS Otis Worldwide HSBC Securities
$65
4/8/24	Initiated	Hold	X
OXY Occidental Petro HSBC Securities
$65
1/5/21	Initiated	Buy	X
OZON Ozon Holdings HSBC Securities
$55
5/8/23	Upgrades	Hold Buy	X
PAC Grupo Aeroportuario del Pacifico HSBC Securities
$205 $215
3/1/23	Downgrades	Buy Hold	X
PAC Grupo Aeroportuario del Pacifico HSBC Securities
$205
8/25/22	Upgrades	Hold Buy	X
PAC Grupo Aeroportuario del Pacifico HSBC Securities
6/13/23	Upgrades	Hold Buy	X
PAGS PagSeguro Digital HSBC Securities
$10 $13
5/8/19	Initiated	Reduce	X
PAGS PagSeguro Digital HSBC Securities
5/21/24	Upgrades	Reduce Hold	X
PAM Pampa Energia S.A. HSBC Securities
$46
9/7/23	Downgrades	Hold Reduce	X
PAM Pampa Energia S.A. HSBC Securities
$30
5/26/22	Upgrades	Reduce Hold	X
PAM Pampa Energia S.A. HSBC Securities
$23
8/30/18	Initiated	Buy	X
PAM Pampa Energia S.A. HSBC Securities
$40
11/22/24	Downgrades	Hold Reduce	X
PANW Palo Alto Networks HSBC Securities
$304 $291
9/29/23	Initiated	Hold	X
PANW Palo Alto Networks HSBC Securities
$242
3/5/25	Upgrades	Hold Buy	X
PBR Petrobras HSBC Securities
$15
10/21/24	Downgrades	Buy Hold	X
PBR Petrobras HSBC Securities
3/25/24	Upgrades	Hold Buy	X
PBR Petrobras HSBC Securities
$18
8/10/23	Downgrades	Buy Hold	X
PBR Petrobras HSBC Securities
$13
10/14/21	Downgrades	Buy Hold	X
PBR Petrobras Brasileiro HSBC Securities
$12
3/14/19	Upgrades	Hold Buy	X
PBR Petrobras Brasileiro HSBC Securities
8/30/22	Upgrades	Hold Buy	X
PDD Pinduoduo HSBC Securities
$93
2/1/19	Initiated	Hold	X
PDD Pinduoduo HSBC Securities
10/25/23	Resumed	Hold	X
PEP PepsiCo HSBC Securities
$185
7/14/23	Initiated	Buy	X
PFE Pfizer HSBC Securities
$50
9/22/23	Initiated	Buy	X
PG Procter & Gamble HSBC Securities
$179
12/10/24	Downgrades	Buy Hold	X
PGR Progressive HSBC Securities
$267
8/12/24	Upgrades	Hold Buy	X
PGR Progressive HSBC Securities
$253
12/28/23	Initiated	Hold	X
PGR Progressive HSBC Securities
$164
6/16/22	Initiated	Buy	X
PGRU PropertyGuru HSBC Securities
$8.40
1/14/22	Upgrades	Hold Buy	X
PHG Philips HSBC Securities
6/21/21	Downgrades	Buy Hold	X
PHG Philips HSBC Securities
5/11/18	Downgrades	Buy Reduce	X
PHI PLDT HSBC Securities
10/23/23	Initiated	Hold	X
PK Park Hotels & Resorts HSBC Securities
$13
1/22/24	Downgrades	Buy Hold	X
PLTK Playtika HSBC Securities
$8
7/25/23	Initiated	Buy	X
PLTK Playtika HSBC Securities
$15.80
2/14/24	Downgrades	Buy Hold	X
PLTR Palantir Technologies HSBC Securities
$22
9/15/23	Initiated	Hold	X
PLTR Palantir Technologies HSBC Securities
$16
3/28/24	Upgrades	Reduce Hold	X
PNC PNC HSBC Securities
$141 $155
9/7/23	Initiated	Reduce	X
PNC PNC HSBC Securities
$110
4/11/23	Upgrades	Hold Buy	X
PTR PetroChina HSBC Securities
3/23/21	Upgrades	Hold Buy	X
PUK Prudential Plc HSBC Securities
7/17/24	Downgrades	Buy Hold	X
QCOM Qualcomm HSBC Securities
$200
10/24/22	Initiated	Buy	X
QCOM Qualcomm HSBC Securities
$180
10/17/24	Downgrades	Buy Hold	X
QGEN Qiagen HSBC Securities
$49
11/19/24	Upgrades	Reduce Hold	X
QS QuantumScape Corporation HSBC Securities
$5.30
12/4/23	Initiated	Reduce	X
QS QuantumScape Corporation HSBC Securities
$4.70
12/13/23	Downgrades	Buy Hold	X
RACE Ferrari HSBC Securities
10/27/22	Upgrades	Hold Buy	X
RACE Ferrari HSBC Securities
2/11/21	Downgrades	Buy Hold	X
RACE Ferrari HSBC Securities
4/26/19	Downgrades	Buy Hold	X
RACE Ferrari HSBC Securities
8/29/18	Upgrades	Hold Buy	X
RACE Ferrari HSBC Securities
12/12/24	Initiated	Buy	X
RBLX Roblox HSBC Securities
$63
8/15/19	Downgrades	Buy Hold	X
RBS Royal Bank of Scotland HSBC Securities
10/23/23	Initiated	Buy	X
RCL Royal Caribbean HSBC Securities
$115
3/8/19	Upgrades	Hold Buy	X
RDC Rowan Cos HSBC Securities
9/21/18	Downgrades	Buy Hold	X
RDC Rowan Cos HSBC Securities
11/9/21	Upgrades	Hold Buy	X
RDS-A Royal Dutch Shell HSBC Securities
$51.70
7/22/21	Downgrades	Buy Hold	X
RDS-A Royal Dutch Shell HSBC Securities
5/13/19	Upgrades	Hold Buy	X
RDS-A Royal Dutch Shell HSBC Securities
8/29/23	Downgrades	Buy Hold	X
RDY Dr. Reddy’s HSBC Securities
4/4/18	Upgrades	Hold Buy	X
RIG Transocean HSBC Securities
7/23/24	Upgrades	Hold Buy	X
RIO Rio Tinto HSBC Securities
3/1/19	Downgrades	Buy Hold	X
RIO Rio Tinto HSBC Securities
4/18/18	Upgrades	Hold Buy	X
RIO Rio Tinto HSBC Securities
12/11/24	Upgrades	Hold Buy	X
ROK Rockwell Automation HSBC Securities
$355
1/25/19	Upgrades	Reduce Buy	X
ROK Rockwell Automation HSBC Securities
7/12/24	Downgrades	Buy Hold	X
RYAAY Ryanair Hldgs HSBC Securities
6/18/21	Upgrades	Hold Buy	X
RYAAY Ryanair Hldgs HSBC Securities
4/12/21	Downgrades	Buy Hold	X
RYAAY Ryanair Hldgs HSBC Securities
5/22/19	Downgrades	Hold Reduce	X
RYAAY Ryanair Hldgs HSBC Securities
4/2/19	Downgrades	Buy Hold	X
RYAAY Ryanair Hldgs HSBC Securities
1/22/19	Upgrades	Reduce Buy	X
RYAAY Ryanair Hldgs HSBC Securities
5/1/23	Downgrades	Buy Hold	X
SAN Banco Santander HSBC Securities
1/20/21	Upgrades	Hold Buy	X
SAN Banco Santander HSBC Securities
6/17/19	Upgrades	Hold Buy	X
SAP SAP SE HSBC Securities
4/9/19	Downgrades	Buy Hold	X
SAP SAP SE HSBC Securities
11/4/24	Downgrades	Buy Hold	X
SBSW Sibanye-Stillwater HSBC Securities
4/22/24	Downgrades	Hold Reduce	X
SCCO Southern Copper HSBC Securities
$80
7/15/21	Upgrades	Reduce Hold	X
SCCO Southern Copper HSBC Securities
$67 $68.50
3/19/19	Upgrades	Reduce Hold	X
SCCO Southern Copper HSBC Securities
11/26/18	Downgrades	Hold Reduce	X
SCCO Southern Copper HSBC Securities
11/6/23	Downgrades	Buy Hold	X
SEDG SolarEdge Technologies HSBC Securities
$243 $80
8/23/18	Upgrades	Reduce Hold	X
SHI Shanghai Petrochemical HSBC Securities
5/21/18	Downgrades	Buy Hold	X
SHI Shanghai Petrochemical HSBC Securities
2/22/19	Upgrades	Hold Buy	X
SID Comp Siderurgica HSBC Securities
10/26/18	Upgrades	Hold Buy	X
SKM SK Telecom HSBC Securities
4/27/22	Upgrades	Hold Buy	X
SLB Schlumberger HSBC Securities
$4.60 $44.20
11/26/18	Upgrades	Hold Buy	X
SLB Schlumberger HSBC Securities
4/26/24	Upgrades	Reduce Buy	X
SNAP Snap HSBC Securities
9/26/23	Initiated	Reduce	X
SNAP Snap HSBC Securities
$7.50
10/31/23	Upgrades	Hold Buy	X
SNN Smith & Nephew HSBC Securities
4/27/23	Downgrades	Buy Hold	X
SNN Smith & Nephew HSBC Securities
8/23/24	Upgrades	Reduce Hold	X
SNOW Snowflake HSBC Securities
$119 $121
2/29/24	Downgrades	Hold Reduce	X
SNOW Snowflake HSBC Securities
2/15/24	Downgrades	Buy Hold	X
SNOW Snowflake HSBC Securities
$212 $214
9/15/23	Initiated	Buy	X
SNOW Snowflake HSBC Securities
$201
4/11/23	Upgrades	Reduce Hold	X
SNP China Petroleum (Sinopec) HSBC Securities
9/29/23	Initiated	Buy	X
SNPS Synopsys HSBC Securities
$551
7/14/23	Initiated	Buy	X
SNY Sanofi HSBC Securities
3/27/24	Initiated	Buy	X
SPOT Spotify HSBC Securities
$310
12/3/18	Upgrades	Hold Buy	X
SQM Sociedad Quimica y Minera HSBC Securities
3/8/18	Upgrades	Reduce Hold	X
SQM Sociedad Quimica y Minera HSBC Securities
5/22/19	Downgrades	Buy Hold	X
SSL Sasol HSBC Securities
1/24/24	Downgrades	Buy Hold	X
STLA Stellantis HSBC Securities
2/22/24	Initiated	Buy	X
STM STMicroelectronics HSBC Securities
6/13/23	Upgrades	Hold Buy	X
STNE StoneCo HSBC Securities
$11 $15
3/12/21	Upgrades	Hold Buy	X
STNE StoneCo HSBC Securities
$85
5/8/19	Initiated	Reduce	X
STNE StoneCo HSBC Securities
10/13/21	Upgrades	Hold Buy	X
STZ Constellation Brands HSBC Securities
$262
1/7/19	Upgrades	Hold Buy	X
STZ Constellation Brands HSBC Securities
10/23/23	Initiated	Hold	X
SVC Service Properties Trust HSBC Securities
$8
4/21/23	Upgrades	Hold Buy	X
T AT&T HSBC Securities
$21
3/28/18	Upgrades	Hold Buy	X
T AT&T HSBC Securities
5/29/24	Resumed	Buy	X
TAL TAL Education HSBC Securities
$16
6/18/21	Downgrades	Buy Hold	X
TAL TAL Education HSBC Securities
11/30/23	Initiated	Hold	X
TAP Molson Coors Brewing HSBC Securities
$68
11/19/24	Upgrades	Hold Buy	X
TCOM Trip.com Group HSBC Securities
10/8/24	Downgrades	Buy Hold	X
TCOM Trip.com Group HSBC Securities
1/4/24	Downgrades	Buy Hold	X
TDCX TDCX HSBC Securities
8/24/23	Upgrades	Hold Buy	X
TDCX TDCX HSBC Securities
$6
10/2/24	Upgrades	Reduce Hold	X
TEF Telefonica S.A. HSBC Securities
1/23/25	Upgrades	Reduce Hold	X
TEL TE Connectivity HSBC Securities
$166
10/31/24	Downgrades	Hold Reduce	X
TEL TE Connectivity HSBC Securities
$137
7/24/24	Downgrades	Buy Hold	X
TEL TE Connectivity HSBC Securities
$162
3/16/21	Upgrades	Reduce Buy	X
TEO Telecom Argentina HSBC Securities
6/28/18	Upgrades	Reduce Hold	X
TEO Telecom Argentina HSBC Securities
2/22/18	Downgrades	Hold Reduce	X
TEO Telecom Argentina HSBC Securities
12/18/23	Initiated	Buy	X
TEVA Teva Pharma HSBC Securities
$13
1/7/25	Upgrades	Hold Buy	X
TFC Truist HSBC Securities
$50
9/7/23	Initiated	Hold	X
TFC Truist HSBC Securities
$29
11/20/24	Downgrades	Buy Hold	X
TGT Target HSBC Securities
$138
3/6/24	Upgrades	Hold Buy	X
TGT Target HSBC Securities
$140 $195
9/22/23	Initiated	Hold	X
TGT Target HSBC Securities
$140
1/22/25	Upgrades	Hold Buy	X
TIGO Millicom International Cellular HSBC Securities
$34
7/2/24	Downgrades	Buy Hold	X
TIGO Millicom International Cellular HSBC Securities
2/28/24	Upgrades	Hold Buy	X
TIGO Millicom International Cellular HSBC Securities
10/20/23	Downgrades	Buy Hold	X
TIGO Millicom International Cellular HSBC Securities
$20 $17
11/14/22	Upgrades	Reduce Hold	X
TIGO Millicom International Cellular HSBC Securities
8/22/22	Resumed	Reduce	X
TIGO Millicom International Cellular HSBC Securities
$14
5/13/19	Downgrades	Buy Hold	X
TKC Turkcell HSBC Securities
1/18/19	Initiated	Buy	X
TME Tencent Music HSBC Securities
12/18/23	Initiated	Buy	X
TMO Thermo Fisher HSBC Securities
$610
3/5/25	Downgrades	Buy Hold	X
TMUS T-Mobile US HSBC Securities
$270
12/10/24	Upgrades	Hold Buy	X
TRV Travelers HSBC Securities
$290
12/28/23	Initiated	Hold	X
TRV Travelers HSBC Securities
$203
4/3/24	Reiterated	Reduce	X
TSLA Tesla HSBC Securities
$143 $138
11/9/23	Initiated	Reduce	X
TSLA Tesla HSBC Securities
$146
9/22/23	Initiated	Reduce	X
TSN Tyson Foods HSBC Securities
$49
11/13/23	Downgrades	Hold Reduce	X
TSP TuSimple Holdings HSBC Securities
$1.50 $0.70
2/17/23	Downgrades	Buy Hold	X
TSP TuSimple Holdings HSBC Securities
$15.90 $2.20
2/16/23	Downgrades	Buy Hold	X
TSP TuSimple Holdings HSBC Securities
$2.20
8/9/18	Upgrades	Reduce Hold	X
TSU TIM Participacoes HSBC Securities
10/31/24	Downgrades	Buy Hold	X
TT Trane HSBC Securities
$405
9/15/23	Initiated	Buy	X
TT Trane HSBC Securities
$256
12/18/23	Initiated	Buy	X
TTD The Trade Desk HSBC Securities
10/11/18	Downgrades	Buy Hold	X
TTM Tata Motors HSBC Securities
8/12/24	Upgrades	Hold Buy	X
TTWO Take-Two HSBC Securities
$179
5/17/24	Downgrades	Buy Hold	X
TTWO Take-Two HSBC Securities
$154
7/25/23	Initiated	Buy	X
TTWO Take-Two HSBC Securities
$170
2/14/24	Downgrades	Hold Reduce	X
TWLO Twilio HSBC Securities
$62 $61
9/15/23	Initiated	Hold	X
TWLO Twilio HSBC Securities
$67
2/21/25	Upgrades	Hold Buy	X
U Unity Software HSBC Securities
$34
12/18/23	Initiated	Hold	X
U Unity Software HSBC Securities
7/22/19	Initiated	Hold	X
UBER Uber HSBC Securities
$49
1/17/25	Upgrades	Hold Buy	X
UGP Ultrapar Participacoes HSBC Securities
7/19/24	Upgrades	Reduce Hold	X
UGP Ultrapar Participacoes HSBC Securities
6/23/23	Downgrades	Buy Hold	X
UGP Ultrapar Participacoes HSBC Securities
$3 $3.80
5/18/18	Upgrades	Hold Buy	X
UGP Ultrapar Participacoes HSBC Securities
6/28/19	Initiated	Hold	X
UL Unilever PLC HSBC Securities
1/25/24	Upgrades	Reduce Hold	X
UMC United Micro HSBC Securities
4/27/23	Downgrades	Hold Reduce	X
UMC United Micro HSBC Securities
$6.80 $6.46
4/24/19	Upgrades	Reduce Hold	X
UMC United Micro HSBC Securities
1/30/19	Downgrades	Hold Reduce	X
UMC United Micro HSBC Securities
1/24/19	Downgrades	Buy Hold	X
UMC United Micro HSBC Securities
10/25/18	Downgrades	Buy Hold	X
UMC United Micro HSBC Securities
1/10/25	Upgrades	Hold Buy	X
UNH UnitedHealth HSBC Securities
$595
10/17/24	Downgrades	Buy Hold	X
UNH UnitedHealth HSBC Securities
6/5/24	Upgrades	Hold Buy	X
UNH UnitedHealth HSBC Securities
$580
4/4/24	Upgrades	Reduce Hold	X
UNH UnitedHealth HSBC Securities
$460
12/18/23	Downgrades	Hold Reduce	X
UNH UnitedHealth HSBC Securities
$550 $480
9/6/23	Initiated	Hold	X
UNH UnitedHealth HSBC Securities
$540
4/25/24	Upgrades	Hold Buy	X
UPS UPS HSBC Securities
$170
9/29/23	Initiated	Hold	X
UPS UPS HSBC Securities
$170
3/28/24	Upgrades	Hold Buy	X
USB U.S. Bancorp HSBC Securities
$47 $53
9/7/23	Initiated	Hold	X
USB U.S. Bancorp HSBC Securities
$30
1/28/19	Downgrades	Buy Hold	X
VALE Vale S.A. HSBC Securities
3/29/19	Downgrades	Buy Hold	X
VEDL Vedanta Ltd HSBC Securities
1/25/21	Downgrades	Buy Hold	X
VEON VEON HSBC Securities
8/20/18	Upgrades	Hold Buy	X
VEON VEON HSBC Securities
3/8/18	Downgrades	Buy Hold	X
VEON VEON HSBC Securities
2/14/18	Upgrades	Hold Buy	X
VIPS Vipshop HSBC Securities
$20
1/25/21	Upgrades	Hold Buy	X
VLRS Volaris Aviation HSBC Securities
4/3/19	Upgrades	Hold Buy	X
VLRS Volaris Aviation HSBC Securities
11/30/18	Upgrades	Reduce Hold	X
VLRS Volaris Aviation HSBC Securities
9/28/18	Downgrades	Hold Reduce	X
VLRS Volaris Aviation HSBC Securities
10/9/24	Upgrades	Hold Buy	X
VNET VNET Group HSBC Securities
$5.20
6/12/23	Downgrades	Buy Hold	X
VNET VNET Group HSBC Securities
$6.60 $2.90
11/22/21	Upgrades	Hold Buy	X
VNET 21Vianet HSBC Securities
$17.40
10/11/21	Initiated	Hold	X
VNET 21Vianet HSBC Securities
$18.50
5/24/19	Upgrades	Hold Buy	X
VOD Vodafone PLC HSBC Securities
3/28/18	Upgrades	Hold Buy	X
VZ Verizon HSBC Securities
2/20/24	Downgrades	Hold Reduce	X
WBA Walgreens Boots Alliance HSBC Securities
12/22/23	Initiated	Hold	X
WBA Walgreens Boots Alliance HSBC Securities
$27
5/24/19	Downgrades	Hold Reduce	X
WB Weibo HSBC Securities
12/12/18	Initiated	Hold	X
WB Weibo HSBC Securities
$71
9/7/23	Initiated	Hold	X
WFC Wells Fargo HSBC Securities
$45
10/23/23	Initiated	Buy	X
WH Wyndham Hotels & Resorts HSBC Securities
$87
12/9/24	Upgrades	Reduce Hold	X
WIT Wipro HSBC Securities
7/5/18	Upgrades	Reduce Hold	X
WIT Wipro HSBC Securities
2/15/24	Downgrades	Buy Hold	X
WM Waste Mgmt HSBC Securities
$210
9/15/23	Initiated	Buy	X
WM Waste Mgmt HSBC Securities
$192
9/22/23	Initiated	Buy	X
WMT Walmart HSBC Securities
$200
1/29/18	Downgrades	Buy Hold	X
WPP WPP Group plc HSBC Securities
8/18/22	Upgrades	Hold Buy	X
WTRG Essential Utilities HSBC Securities
$53 $57
10/23/23	Initiated	Buy	X
WYNN Wynn Resorts HSBC Securities
$111
3/17/21	Initiated	Hold	X
XM Qualtrics HSBC Securities
$40
4/20/23	Reiterated	Hold	X
XOM Exxon Mobil HSBC Securities
$113.50 $115.50
3/15/18	Upgrades	Reduce Buy	X
XOM Exxon Mobil HSBC Securities
4/29/21	Initiated	Buy	X
XP XP HSBC Securities
$46
8/7/23	Upgrades	Hold Buy	X
XPEV XPeng HSBC Securities
$22
2/24/23	Downgrades	Buy Hold	X
XPEV XPeng HSBC Securities
4/1/22	Initiated	Buy	X
XPEV XPeng HSBC Securities
2/26/25	Initiated	Buy	X
YMM Full Truck Alliance Co. Ltd. HSBC Securities
$18
12/16/21	Upgrades	Hold Buy	X
YNDX Yandex N.V. HSBC Securities
$76 $77
4/19/18	Initiated	Buy	X
YPF YPF Soc. Anonima HSBC Securities
9/15/23	Initiated	Buy	X
ZM Zoom Video HSBC Securities
$83
9/20/22	Downgrades	Buy Hold	X
ZNH China Southern Airlines HSBC Securities
1/17/19	Upgrades	Reduce Hold	X
ZNH China Southern Airlines HSBC Securities
1/21/25	Downgrades	Buy Hold	X
ZTO ZTO Express HSBC Securities
$28 $20
9/6/23	Initiated	Buy	X
ZTS Zoetis HSBC Securities
$230