HSBC, StanChart results to show Hong Kong protests are starting to gnaw - News Daily

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Thursday, October 24, 2019

HSBC, StanChart results to show Hong Kong protests are starting to gnaw

By Sumeet Chatterjee and Sinead Cruise HONG KONG/LONDON (Reuters) - HSBC Holdings Plc and Standard Chartered Plc are set to show early signs of strain from anti-government protests in Hong Kong, the single-biggest profit centre for the two banks, when they report quarterly earnings next week. Five months of political turmoil in the Chinese-ruled territory are set to weigh on the two London-headquartered lenders' credit growth and asset quality in the near to medium term, people with knowledge of the matter said. HSBC will report its third-quarter earnings on Monday, and StanChart on Wednesday

The post HSBC, StanChart results to show Hong Kong protests are starting to gnaw appeared first on Firstpost.



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