HONG KONG — HSBC says profits rose in the third quarter as a sweeping corporate overhaul, aimed at winning more business in Asia pays off. The London-based global bank said Monday that pretax profit rose to $4.6 billion in the July-September period ... ( read original story ...)
HSBC posts huge jump in third quarter pre-tax profit
"Our pivot to Asia is driving higher returns and lending growth, particularly in Hong Kong and the Pearl River Delta," HSBC chief executive Stuart Gulliver said in a statement. The firm's earnings were further boosted by higher premiums from its insurance ... ( read original story ...)
HSBC third-quarter profits up five times as Asia drives lending growth
The Asian contribution to HSBC’s performance is increasing. In a statement to the Hong Kong stock exchange the bank said that its “pivot to Asia” had driven over 70 per cent of the group’s adjusted profit in the first nine months of this year. ( read original story ...)
Asia helps HSBC post jump in third quarter pretax profit
Hong Kong: HSBC Holdings PLC (HSBA.L) posted a more than five-fold rise in its pretax profit for the third quarter, as the bank expanded its market share in its key business in Asia, and helped by a lower comparative base in the year-ago quarter. ( read original story ...)
HSBC Q3 profits up five-fold to $4.6 bn on booming Asia
Profits at banking giant HSBC leapt five fold in the third quarter to $4.6 billion ... Shares were up 0.7 percent at HK$77.65 ($9.95) in early afternoon trading. Gulliver said the bank had "maintained good momentum in the third quarter", with higher ... ( read original story ...)
HSBC says profits rose in the third quarter as a sweeping corporate overhaul, aimed at winning more business in Asia pays off.
HONG KONG (AP) -- HSBC said Monday that its profit rose in the third quarter as a sweeping corporate overhaul aimed at winning more business in Asia paid off. The London-based global bank said pretax profit rose to $4.6 billion in the July-September period ... ( read original story ...)
Hong Kong stocks rally may continue into fourth quarter on stabilising growth in China and global fund inflows
Overseas investors will shift more allocations to the city’s equities and other emerging markets from the United States, where stocks are 50 per cent more expensive than Hong Kong, said Cheng Yu, a fund manager at HSBC Jintrust Fund Management. ( read original story ...)
There’s plenty happening in Hong Kong’s fintech sector, but what’s it all for?
He cited as examples Carrie Lam’s policy address in mid October which referred to fintech and devoted four pages to innovation, and the recent announcement of a smart-banking era by Norman Chan, the head of the HKMA, Hong Kong’s banking regulator and ... ( read original story ...)
Gaming hardware maker Razer to launch IPO
HONG KONG • Razer, a gaming hardware maker backed by Intel Corp and Hong Kong billionaire Li Ka Shing, plans to launch on Monday a Hong Kong initial public offering of up to US$550 million (S$754 million), IFR reported yesterday, citing people close to ... ( read original story ...)
Singapore-founded gaming firm Razer to launch up to $750m HK IPO on Oct 30
Hong Kong initial public offering, IFR reported on Friday, citing people close to the deal. The company, which is based in Singapore and the United States, will offer shares in an indicative range of HK$2.93 (S$0.51) to HK$4 each, added IFR, a Thomson ... ( read original story ...)
Two top traders have just left Credit Suisse for Hong Kong hedge funds
https://news.efinancialcareers.com/hk-en/299276/asian-banking-career-guide-eric-sim/ Two senior traders, Tish Ghosh and Andrew Pidgeon, have just left Credit Suisse in Hong Kong to join hedge funds. Ghosh, a Credit Suisse MD and head of equities delta one ... ( read original story ...)
Regulator’s U-turn paves way for dual-class companies to raise funds in Hong Kong in pilot plan
This came after the SFC in 2014 opposed exemption for Alibaba Group, which has a dual-class structure, to list in Hong Kong. Alibaba, which owns the South China Morning Post, opted to list in New York in what became the largest IPO in history. Another ... ( read original story ...)
A Classy Compromise for Hong Kong
The biggest kick in the teeth was the loss of Alibaba Group Holding Ltd., which chose to list in New York after Hong Kong refused to yield on one-share-one-vote, raising $25 billion in the world's biggest-ever IPO in 2014. The company had sought ... ( read original story ...)
Hong Kong could launch pilot for different share classes in 2018: SCMP
to take its record $25 billion IPO to New York in 2014. Alibaba’s decision was widely regarded as a significant loss for Hong Kong Exchanges and Clearing Ltd (HKEX) (0388.HK), which operates the bourse, and raised concerns the city could lose its appeal ... ( read original story ...)