HSBC's Sale of Argentina Business a Positive Move -- Market Talk

Dow Jones04-10

0843 GMT - HSBC's decision to sell its Argentina business is a positive move, as it is in line with its business strategy of disposing non-core business to streamline operations, DBS Group Research analysts write in a note. By letting go of the "volatile business," HSBC can use the capital for operations elsewhere with better returns, they say. The valuation of the sale was also in line with similar deals in the region, they add. DBS has a buy rating on the stock with a target price of HK$74.60. Shares closed 1.4% higher at HK$64.80. (kimberley.kao@wsj.com)

(END) Dow Jones Newswires

April 10, 2024 04:43 ET (08:43 GMT)

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Shares closed 1.4% higher at HK$64.80. 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