Tuesday, October 27, 2020

HSBC Q3 Results Down, Expects To Beat Cost Target; Stock Up

Asia-focused lender HSBC Holdings Plc reported Tuesday weak profit and revenues in its third quarter, while adjusted deposits increased from the previous year. Further, the company accelerated its restructuring plan, expecting to beat its Group cost target of =$31 billion in 2022. HSBC shares were gaining around 5 percent in Hong Kong trading.

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