October 22, 2020
Business News

HSBC Posts Biggest Intraday Jump Since 2009 After Selloff

(Bloomberg) — HSBC Holdings Plc rose the most in Hong Kong trading since 2009, recovering from a 25-year low, as its biggest shareholder raised its stake in a bet the embattled lender will return to paying dividends.

Ping An Insurance Group Co., which last week bought 10.8 million shares to boost its stake to 8%, remains confident in HSBC’s long-term prospects, a spokesperson said. The recent slump in the share price and valuation only increases HSBC’s appeal, the spokesperson said. <... Click here to view the original article.

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