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CFDs are complex instruments. 72% of retail client accounts lose money when trading CFDs, with this investment provider. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money.

HSBC shares rise on $2bln buyback, outlook

HSBC shares have risen after the bank’s first-half profit surged more than two-fold, it announced a $2 billion buyback, after a rise in interest rates worldwide, and gains from the planned sale of its French unit.

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IGTV’s @AngelineOng takes a look at the share reaction.

(Video Transcript)

HSBC

Now, HSBC, another one I want to talk about Rewarding its investors with a share buyback of up to $2 billion is checking out the results for you. First half profit surging more than two-fold.

HSBC upping its near-term return on tangible equity goal as well and says this fresh buy back is set to begin Europe's biggest bank with a market cap of $162 billion, reporting a pretax profit of 21.7 billion for the first six months of this year versus 9.2 billion a year earlier. That was a beat.

By the way, this was, as I mentioned earlier, thanks to rising interest rates worldwide and gains from a planned sale, the planned sale of its French unit, HSBC. Shares in Hong Kong jumped as well to the highest level since May 2019.


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