The Traderszone Network

Published in TZ Latest News 2 August, 2015 by The TZ Newswire Staff

HSBC first-half profits up 10 percent on China investing frenzy

HSBC Holdings (HSBA.L) said its first-half profit climbed a better than expected 10 percent, driven by a strong performance in Hong Kong that comes as the bank considers moving its headquarters to the Asian financial hub. HSBC also announced on Monday the sale of its Brazil unit to Banco Bradesco SA (BBDC4.SA), the country’s second-biggest private-sector bank, for a higher than expected 17.6 billion reais ($5.2 billion), as HSBC seeks to cut underperforming businesses.

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