Buyers should grab deals while they can – but the bank could lose out in a precarious UK market
HSBC has been the bank that has prospered most from globalisation. Hong Kong has been its gateway to an emerging China, its UK domicile has provided regulatory and legal respectability, and its US operations have enabled it to become one of the biggest US dollar clearing banks in the world. But has globalisation now stopped working in the bank’s favour?
Hong Kong – where the bank makes about half its profit – is gripped by street protests at the same time as the US and China are engaged in a tariff war, while the UK is in a crisis of its own making. The surprise is that the bank’s share price hasn’t fallen further than it has. It’s down 10% since last August, but that’s rather better than Barclays or Lloyds, which have fallen even more steeply.
Continue reading...from Property | The Guardian https://ift.tt/32pAGIy
via IFTTT
No comments:
Post a Comment