HSBC profits plummet 80% after charge on Chinese bank stake

HSBC’s quarterly profit plunged 80 per cent as it took a $3bn charge on the value of its stake in a Chinese bank and a further writedown on commercial real estate, underlining how a slowdown in the country’s economy continues to hit international lenders.…

This data comes from the ChinaPulse.com media intelligence and smart news insights monitoring platform.