HSBC shares have soared 330% in 5 years! Is it too late to get in?

HSBC shares have risen about 330% over five years, lifting the bank to become the UK’s biggest listed company with a market cap of £266bn. The article attributes performance partly to higher interest rates, which have widened net interest margins, and notes that only 18% of revenue comes from the UK, with major opportunities in Asia. It cites pre-tax profit figures and highlights a dip in 2025 tied mainly to one-off impairments. For Q2 (reported Aug. 4), revenue rose 16% to $19.1bn and profit before tax jumped 60% to $10.1bn, following a restart of share buybacks. The board authorized buybacks up to $1bn. Risks include China’s property downturn and tighter rules for mainland Chinese investing in Hong Kong, as well as valuation concerns.