HSBC Holdings has a $15 billion headache in China—a giant stake in an area lender that it might’t simply promote and that would require a giant write-down.
Lengthy after most different Western banking giants have exited related positions, HSBC has held on to its roughly 19% place in Financial institution of Communications, an funding that dates again to 2004. HSBC, Europe’s largest financial institution by market worth, has mentioned the stake is strategically necessary for its ambitions to develop in Asia.
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