HSBC’s third-quarter pre-tax profit misses estimates on souring loans to China’s property sector

HSBC’s third-quarter pre-tax profit misses estimates on souring loans to China’s property sector

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HSBC, the biggest of Hong Kong’s three currency-issuing banks, missed third-quarter profit estimates by a wide margin because of higher bad debt provisions related to mainland China’s real estate sector. Net profit rose by 180 per cent to US$5.6 billion in the three months to September, or US$0.29…

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