STRESSEconomicGlobal
HSBC shares drop 5.6% despite strong quarterly profit, US$1b buy-back Investors sell after net interest income falls US$2.6 billion short of analysts’ estimate.
Published:
News summary
Shares of HSBC dropped more than 5 per cent on Tuesday even as Hong Kong’s biggest lender reported a 32 per cent rise in third quarter pre-tax profits and announced a new round of share buy-backs worth US$1 billion.
- Importance
- Low · 24/100
- Impact direction
- Mixed