FINWIRES · TerminalLIVE
FINWIRES

HKG:0005

28 stories mentioning HKG:0005

Every FINWIRES story that references HKG:0005, newest first.

Asia

Market Chatter: HSBC, Unit Partially Resume App Services After Lockout

HSBC Holdings (HKG:0005) and its unit Hang Seng Bank have been able to partially resume their app services after a glitch caused users to be locked out earlier in the day, the South China Morning Post (SCMP) reported Monday.The apps reportedly failed to grant access to customers by showing the app service as unavailable, or asking for valid email addresses and phone numbers, despite the details being registered in their database.HSBC is working to solve the technical issue and resume services, the newswire said citing a bank spokesperson. Some services are still unable, according to the SCMP.HSBC's banking app had previously become inactive for a number of hours in January, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

HKG:0005
Asia

Market Chatter: HSBC Faces $400 Million Exposure to UAE's IFFCO After Debt Restructuring Talks Fail

HSBC Holdings (HKG:0005) has emerged as the top lender to distressed consumer goods producer IFFCO with a possible exposure of around $400 million, Bloomberg reported Friday, citing people familiar with the matter.The Middle East-based company has been trying for months to restructure about $2 billion in debt, but now faces an insolvency petition after failing to reach an agreement with a group of creditors, according to the report.The report said it was unclear whether HSBC had followed another lender in cutting its exposure to the ailing United Arab Emirates-based IFFCO in recent weeks.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

HKG:0005
Asia

Market Chatter: Allianz Seen as Top Bidder for HSBC Life Singapore

German insurer Allianz is the leading contender to acquire HSBC Holdings' (HKG:0005) Singapore insurance unit, Bloomberg News reported on Sunday, citing people familiar with the matter.HSBC is seeking a valuation of as much as $2 billion for the business, the sources said, adding that Allianz and the bank are currently working through the details of a potential transaction.According to the report, HSBC had shortlisted Allianz, Sumitomo Life Insurance and Dai-ichi Life Holdings (TYO:8750) as bidders for HSBC Life Singapore. Sun Life Financial (PSE:SLF) and Nippon Life Insurance had previously been identified as potential contenders, the newswire said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

HKG:0005PSE:SLFTYO:8750
Asia

HSBC to Redeem GBP1 Billion of 2027 Senior Bonds on July 24

HSBC (HKG:0005) will redeem its outstanding 1.00 billion pounds sterling of 1.75% fixed rate/floating rate senior unsecured notes due 2027 on July 24, according to a Friday Hong Kong bourse filing.The notes will be redeemed at par, with holders receiving 1,000 pounds sterling for every 1,000 pounds sterling principal amount outstanding.

HKG:0005
Asia

Market Chatter: Banks Move to Seize Sheraton Hong Kong Hotel After Shimao Loan Default

A group of lenders is preparing to take control of a Sheraton-branded hotel near Hong Kong's airport after owner Shimao Group Holdings (HKG:0813) defaulted on a HK$4.5 billion ($575 million) loan late last year, Bloomberg News reported Friday, citing people familiar with the matter.The 1,200-plus-room property is at the center of advanced talks to appoint receivers, allowing banks to accelerate a sale and recover funds, the people told the media outlet. Original lenders to the project include HSBC (HKG:0005), Bank of China (Hong Kong) (HKG:3988), and Bank of East Asia (HKG:0023), the report said.Shimao has yet to respond to MTNewswire's query as of press time.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

HKG:0005HKG:0023HKG:0813HKG:3988
Asia

Market Chatter: HSBC Swiss Unit Charged in Paris Over Alleged Lebanese Embezzlement Scandal

French financial prosecutors have charged HSBC's (HKG:0005) Swiss branch in Paris as part of a probe into suspicions that it assisted a former Lebanese central bank governor in misappropriating funds, Bloomberg News reported on Thursday.The bank is facing accusations of organized money laundering and conspiracy to commit embezzlement, bribery, and breach of trust, the publication said.Riad Salameh, who led Lebanon's central bank for thirty years before resigning and has been sanctioned by the US and UK for allegedly exploiting his position for personal gain, has already been charged by Lebanese prosecutors with offenses including embezzlement, forgery, and illicit enrichment, the report said.Salameh denies all allegations, attributing his wealth to his earlier finance career, the publication added.Swiss authorities have also been examining the case since 2020, while Le Monde first reported the news and HSBC declined immediate comment, the news wire said.HSBC did not reply to MTNewsire's query at press time.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

HKG:0005
Asia

Market Chatter: UK-Listed Financial Firms in Hong Kong Slump After Chinese Media Reports Tighter Offshore Account Curbs

Trading of UK-listed financial firms in Hong Kong-HSBC, Prudential, and Standard Chartered-slumped Thursday after a Chinese media report said mainland residents now face tighter restrictions on opening offshore accounts at major Hong Kong banks, Reuters News reported on the same day.The Bank of East Asia's Shanghai branch stopped opening overseas investment accounts for mainland clients, and HSBC's Lujiazui staff said deposited funds must comply with Hong Kong rules, the newswire reported, citing the South China Morning Post.As a result, HSBC, Standard Chartered, and Prudential tumbled between 5% and 6.3% in London, and AIA Group dropped 6.8% in Hong Kong, the publication said.HSBC, Prudential, and Standard Chartered were not immediately reachable for comment when contacted by Reuters, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

HKG:0005HKG:2378HKG:2888
Asia

Market Chatter: HSBC Steps Up Hong Kong Investment Banking Push

HSBC (HKG:0005) is stepping up efforts to rebuild its investment banking business in Hong Kong, with senior executives taking a more active role in client outreach amid intensifying competition in the city's capital markets, Bloomberg News reported Monday, citing people familiar with the matter.Over recent months, Chief Executive Georges Elhedery and other senior executives have been actively courting clients in Hong Kong, the report said.The bank has also intensified outreach efforts across Greater China, with Elhedery sending customized video messages to important clients and encouraging executives to engage hundreds of major investors and corporate customers, according to the report.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

HKG:0005
Asia

HSBC Issues Australian Dollar Senior Unsecured Bonds

HSBC (HKG:0005) issued senior unsecured notes under its AU$50 billion debt issuance program, according to a Wednesday Hong Kong bourse filing.The offering includes AU$450 million fixed-to-floating rate senior unsecured notes due May 2032, AU$400 million fixed-to-floating rate senior unsecured notes due May 2037, and AU$550 million floating rate senior unsecured notes due May 2032.The bank applied to list the notes on Euronext Dublin and for trading on its Global Exchange Market.

HKG:0005
Asia

Market Chatter: HSBC CEO Urges Staff to Embrace AI-Led Workplace Shift

HSBC (HKG:0005) Chief Executive Georges Elhedery said artificial intelligence will eliminate some jobs while creating new roles, Bloomberg News reported Wednesday, citing remarks at an investor and analyst session.Speaking in Hong Kong, Elhedery said the bank wants staff to embrace the transition rather than feel alienated or threatened by it, according to the report.Elhedery also said HSBC expects to achieve its annual cost-saving target of $1.5 billion about six months ahead of schedule after already delivering $1.4 billion in savings, The Standard reported separately.He said the savings target is equivalent to about 8% of staff expenses and that the bank could attract more than 1 million new customers annually over the next two decades, according to the report.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

HKG:0005
Asia

Market Chatter: OCBC Outbid Rival Banks in HSBC Deal

Oversea-Chinese Banking Corp. or OCBC (SGX:O39) outbid several competitors by more than $100 million for its recent deal to acquire retail and wealth assets held in Indonesia by HSBC Holdings (HKG:0005), according to a report by Bloomberg on Wednesday.Citing people familiar with the matter, the report added that a higher offer allowed the bank to enter negotiations to conclude the deal for the Indonesian bank.The value of the deal is expected to be finalize once the deal completes in the first half of 2027, the report added.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

HKG:0005SGX:O39
Asia

Hong Kong Stocks Rebound; HSBC Rises

Hong Kong shares rebounded on Tuesday as investors followed updates in the Middle East and Russian President Vladimir Putin's visit to China.The Hang Seng Index rose by 122.67 points, or 0.5%, to end at 25,797.85. The Hang Seng China Enterprises Index increased by 93.06 points, or 0.5%, to 8,639.96.U.S. President Donald Trump said that there was now a "very good chance" of reaching a nuclear deal with Iran as Tehran sent a peace proposal to Washington, sending oil prices lower, Reuters reported.Meanwhile, Putin will be in China from Tuesday to Wednesday for talks with Xi Jinping on economic cooperation and regional issues. Presidential aide Yuri Ushakov stated the trip is unrelated to Trump, Associated Press reported.In corporate news, shares of HSBC (HKG:0005) closed nearly 2% higher after the lender issued $1.50 billion of 6.750% perpetual convertible securities.

Hang SengHKG:0005
Asia

HSBC Issues $1.5 Billion Perpetual Contingent Convertible Securities

HSBC (HKG:0005) issued $1.50 billion of 6.750% perpetual subordinated contingent convertible securities, according to a Tuesday Hong Kong bourse filing.The securities are callable during any optional redemption period.HSBC has applied for the securities to be listed on Euronext Dublin's Global Exchange Market.

HKG:0005
Asia

HSBC to Redeem 2.75 Billion Yuan Bonds Due 2027

HSBC (HKG:0005) will redeem all outstanding 2.75 billion yuan 3.40% notes due in 2027 on June 29, according to a May 15 Hong Kong bourse filing.The bank will redeem the notes at 1 million yuan per calculation amount, together with accrued but unpaid interest from June 29, 2025, to the redemption date.HSBC said the notes will be delisted from the London Stock Exchange and the Taipei Exchange following the redemption.

HKG:0005
Asia

Market Chatter: HSBC Yet to Inject Funds Into Private Credit Efforts

HSBC (HKG:0005) has yet to allocate around $4 billion to expand its asset manager's private credit funds, as it grapples with an expected $400 million loss from a defaulted loan, Bloomberg reported on Friday.A spokesperson for the bank said it remains committed to the private lending business, while Chairman Brendan Nelson said earlier this month the bank remains broadly comfortable in the area of private credit, Bloomberg reported.Still, the bank is yet to make material headway on the plans announced last year.HSBC is conducting a review of a $400 million provision after Market Financial Solutions collapsed into a form of UK insolvency earlier this year.The financial services firm had borrowed from Apollo Global Management's Atlas SP Partners, which HSBC funded.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

HKG:0005
Asia

HSBC to Issue Senior Unsecured Bonds in Europe, US

HSBC (HKG:0005) issued senior unsecured notes under its debt issuance program and an amended indenture agreement, according to Tuesday's London Stock Exchange filings.The euro-denominated issuance includes 1.25 billion euros of 4.086% fixed-to-floating rate notes due 2036, 1.25 billion euros of 3.553% fixed-to-floating rate notes due 2031, and 1 billion euros of floating rate notes due 2029.The U.S. dollar issuance comprises $2.25 billion of 4.711% fixed-to-floating rate senior unsecured notes due 2030 and $2.25 billion of 5.208% fixed-to-floating rate senior unsecured notes due 2034.The euro notes were admitted to trading on the main market of the London Stock Exchange on Tueday, while the U.S. dollar notes will be listed on the New York Stock Exchange.

HKG:0005
Asia

HSBC Plans $1.5 Billion Perpetual Contingent Convertible Securities Issue

HSBC (HKG:0005) plans to issue $1.5 billion of 6.75% perpetual subordinated contingent convertible securities due in 2033, according to a Tuesday Hong Kong bourse filing.The securities are expected to be issued on May 18 and listed on Euronext Dublin's Global Exchange Market, the filing said.Net proceeds are expected to be about $1.49 billion after commissions, with funds to be used for general corporate purposes and to maintain or further strengthen its capital base.The securities will carry an initial interest rate of 6.75% per annum until May 2033, after which the rate will reset every five years.

HKG:0005
US Markets

OCBC Acquires HSBC Indonesia's Wealth, Retail Business, Adding SG$6.6 Billion in AUM

Oversea-Chinese Banking Corporation (SGX:O39) or OCBC, agreed to acquire the retail and wealth management business of HSBC (HKG:0005)'s Indonesian arm.The deal, executed through its subsidiary PT Bank OCBC NISP Tbk, involves the transfer of assets and liabilities of HSBC Indonesia's International Wealth and Premier Banking business, according to a Monday press release.The acquisition will expand OCBC's Indonesia platform by about SG$6.6 billion in assets under management and 336,000 customers.The portfolio includes SG$4.3 billion in customer investments across mutual funds, bonds, and insurance, as well as SG$2.3 billion in deposits and a retail loan book of about SG$0.3 billion.Total consideration will be based on net asset value at completion, with a premium of up to about SG$0.48 billion, subject to adjustment mechanisms."This acquisition in Indonesia fits well into our Next Frontier strategy under the Franchise Shift of building up our Indonesia franchise," Tan Teck Long, Chief Executive Officer of Oversea-Chinese Banking Corporation, said."Indonesia is a long-term commitment, and a key growth market," he added.The SG$2.3 billion deposit base, including sizable low-cost CASA balances, provides stable funding and opens up further wealth management opportunities, Long said.The deal is expected to be completed in the second quarter of 2027 and will be internally funded, with no material impact anticipated on OCBC's net tangible assets, earnings per share, or capital.IWPB Indonesia operates across 26 branches and is one of the largest foreign-owned retail and wealth platforms in the country.Upon completion, OCBC expects the deal to increase its Indonesia unit's AUM by about 25% and boost credit card balances by more than 150%, while adding around 1,300 employees to strengthen its wealth management capabilities.The news confirms a Bloomberg report in mid-April about OCBC emerging as the lead bidder for the assets. Bloomberg previously reported that Singapore's DBS Group (SGX:D05) and United Overseas Bank (SGX:U11), Malaysia's CIMB Group (KLSE:CIMB) and Japan's Sumitomo Mitsui Financial Group (TYO:8316) were in the running for the business.

HKG:0005KLSE:CIMBSGX:D05SGX:O39SGX:U11TYO:8316
Asia

HSBC's Pre-Tax Profit Edges Lower in Q1

HSBC (HKG:0005) posted pre-tax profit of $9.38 billion for the first quarter, down from $9.48 billion a year earlier, according to a Tuesday Hong Kong bourse filing.Profit attributable to ordinary shareholders edged higher to $6.94 billion from $6.93 billion a year ago, while the lender's earnings per share came in at $0.40, up from $0.39.Net interest income rose to $8.95 billion from $8.30 billion in the prior-year period.The board declared a first interim dividend of $0.10 per share for 2026, payable on June 26 to shareholders on record as of May 15.HSBC said it now expects banking net interest income of around $46 billion in 2026, up from prior guidance of at least $45 billion.It added that downside stress scenarios, including impacts from the Middle East conflict, could result in a mid- to high-single-digit percentage hit to profit before tax and potentially bring RoTE below its 17% target if unmitigated.

HKG:0005
Asia

OCBC to Acquire HSBC's Retail, Wealth Management Business in Indonesia

Overseas-Chinese Banking Corp. or OCBC (SGX:O39) agreed to acquire the retail and wealth management business of HSBC's (HKG:0005) Indonesian arm, according to a press release on Monday.The deal involves the transfer of HSBC's International Wealth and Premier Banking (IWPB) portfolio to OCBC's local subsidiary, PT Bank OCBC NISP Tbk.OCBC will take on approximately 336,000 customers. The acquisition also adds SG$6.6 billion in assets under management (AUM), expected to grow OCBC Indonesia's total AUM by 25%Credit card balances are projected to surge by more than 150%, and roughly 1,300 HSBC Indonesia employees will join the OCBC team.OCBC will pay a premium of up to SG$480 million above the net asset value of the IWPB portfolio.

HKG:0005SGX:O39

Showing 1-20 of 28