LONDON—HSBC bet big on China to fuel its growth, a move that has now come back to bite it. The banking giant said it lost $153 million in the final three months of last year,…
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HSBC’s shares slide as $3 billion China bank hit mars record profit
HSBC Holdings on Wednesday reported a shock $3 billion charge on its stake in a Chinese bank amid mounting bad loans in the country, sending the British bank’s shares plunging and taking the shine off…
China Slowdown Deals $3 Billion Blow to HSBC
LONDON—HSBC bet big on China to fuel its growth, a move that has now come back to bite it. The banking giant said it lost $153 million in the final three months of last year,…
HSBC shares dive after $3 billion writedown of China bank stake
HSBC led the London market lower on Wednesday after a $3 billion hit to its operations in China saw the banking giant’s quarterly profits dive 80%. HSBC also said it would also add $200 million…
‘Deeply sorry’: China hedge fund apologises after trading ban for ‘market disruption’ in first punishment since Beijing’s vow to stem stock rout
An award-winning Chinese quant hedge fund has apologised to markt authorities and investors, after being punished with a trading ban for dumping stocks on local bourses, the first known case since the …
HSBC’s Q4-23 profit down 80% after taking $3b charge on its China bank stake
While rising interest rates globally boosted HSBC’s full-year earnings to a record, the bank has faced headwinds over the past year in China, one of its key growth markets. The ongoing real estate …
Russian media: China’s 3 biggest banks stop accepting payments from sanctioned Russian institutions
The restrictions have been introduced by the Industrial and Commercial Bank of China (ICBC), the China Construction Bank (CCB), and the Bank of China, the Russian state news outlet Izvestiya said.
Bank of East Asia cut its exposure to China’s troubled commercial property sector last year
Hong Kong’s largest family-owned lender said its non-performing loans in mainland China dropped by 0.47 percentage points to 2.68 per cent at the end of 2023 compared with the first half, as its …
China’s central bank slashes mortgage reference rate to tackle property crisis
(MENAFN) In a bid to address an enduring property crisis, China’s central bank has taken unprecedented measures by slashing its key mortgage reference rate. The People’s Bank of China (PBOC) declared …
Xi Jinping’s Socialist Solution: China’s Response to the Real Estate Crisis
Government authorities are predicted to intervene directly in the house rentals and sales market. According to the Wall Street Journal (WSJ), Chinese President Xi Jinping wants to entrust the state …
China needs to do more on ‘silent crisis’ of debt, says World Bank official
Beijing must be more ready to support countries facing distress, says deputy chief economist …
China’s Property Stocks Gain as Lending Rate Cut Boosts Sentiment
Among individual movers, developer Shimao Group was up 8.3%, China Resources Land added 4.7% and New World Development rose by 5.3%.
China’s new financial regulator pledges transparency to bring investors back from the brink
China’s new financial regulator has made fresh pledges to increase regulatory transparency, stability and predictability, the latest of several attempts to restore investor confidence following a …
