Investors cast their votes on the proposal at the bank's annual meeting in Birmingham, but its supporters ultimately failed to get the majority required.
HSBC quashes Ping An-backed protest vote at annual meeting
HSBC soundly defeated a bid to break-up the bank and spin-out its lucrative Asian business at its annual investor meeting in Birmingham in England on Friday, but still faced a rebellion against its ...
HSBC defeats Asia spin-off proposal at investor meeting
Europe's biggest bank HSBC defeated a resolution from Hong Kong-based shareholders and backed by major investor Ping An to potentially spin-off its lucrative Asia business, the bank's chairman Mark ...
HSBC Shareholders Defeat Measure Aimed at Spinning Off Asia Operations
The outcome is a win for the bank in its fight with its largest stakeholder, the Chinese insurer Ping An, which argues HSBC isn’t taking full advantage of its profitable Asia unit.
Hong Kong well positioned to be a leader in green finance, technology, says Financial Secretary Paul Chan
As the city strives to achieve carbon neutrality by 2050, Paul Chan believes it is ‘well positioned to be a leader in Asia for green finance and technology.’ ...
HKSAR govt welcomes IMF’s affirmation of Hong Kong’s economic growth, financial stability
HONG KONG - The Hong Kong Special Administrative Region (HKSAR) government on Friday welcomed the International Monetary Fund (IMF) Article IV Mission's affirmation of the HKSAR government's efforts ...
Jack Ma’s Ant Eyes Stake Sell In Hong Kong Banking Unit
Alibaba Group Holding Limited's (NYSE: BABA) fintech affiliate Ant Group Co Ltd weighed selling a stake in its virtual banking unit in Hong Kong to win regulatory confidence for its impending initial ...
Hang Seng Bank changes its board composition
Michael Wu Wei Kuo retired as the Independent Non-executive Director. After its annual general meeting held last 4 May, Hong Kong-based Hang Seng Bank conducted changes in its board of directors.
Make up or break up? HSBC faces off with divided shareholders
HSBC shareholders are expected to vote Friday on demands for a radical overhaul of the bank. The London-based lender is one of the world’s top financial institutions, but its biggest investor, Ping An ...
Ping An, Baidu, Tencent push Hong Kong stocks to best week since March on US rate-cut bets amid bank crisis
Traders have stepped up bets on US rate cuts in recent weeks amid bank failures, slump in regional bank stocks Hang Seng logs the biggest weekly gain since end-March; the HKMA has warned investors not ...
HSBC shareholders to vote on whether to spin off Asia business at Friday’s annual meeting
Taking center stage for investors will be two resolutions tabled by investor Ken Lui, which call for a spinoff of HSBC's Asia business and fixed dividends.
HSBC Faces Shareholder Vote On Splitting Bank
Bank giant HSBC faces a vote by shareholders on Friday over a proposal by its largest stakeholder, Chinese insurer Ping An, to split the business to seek better returns.
Hong Kong is becoming a hub for greentech and green finance
Now that Hong Kong has fully reopened to the world and is maintaining its status as one of the world's most important financial centers, it seems the perfect time for the city not only to promote its ...
TOP Financial stock plunges 80% after soaring 60% in prior session (update)
Hong Kong brokerage TOP Financial (NASDAQ:TOP) stock plunged nearly 80% Thursday after soaring 60% during the prior session. Shares of TOP closed at $17.48. The stock hit a high of $107.00 in ...