HSBC's HK shares rise most in nearly 6 weeks on better-than-expected earnings

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HSBC's HK shares rise most in nearly 6 weeks on better-than-expected earnings

Reuters2021-04-27

** Hong Kong shares of HSBC Holdings PLC rise as much as 2.5% to HK$46.25, their highest since April 20, and on course for a second consecutive session of gains

** Stock last up 2.2%, on track for its best day since March 18; the biggest percentage gainer in the Hang Seng Finance Index

** HSBC posted a much better-than-expected 79% rise in first-quarter profit, as the Asia-focused lender starts to recover from the economic damage caused by the pandemic

** Europe's biggest bank by assets posted profit before tax of $5.78 bln, up from $3.21 bln a year ago and well above an average analyst forecast of $3.35 bln

** It said it was continuing negotiations for the sale of its French retail banking business but no final decision has been taken

** The Hang Seng Finance Index climbs 0.3%, and the benchmark index edges up 0.03%

** As of the previous close, Hong Kong-listed shares of HSBC had risen 10.7% this year.

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Jack in the Stock
·2021-04-27
The rise of China stock!
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AlexCP
·2021-04-27
Gogogog
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  Nice
  2021-04-27
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