Shares of HSBC drop on Hong Kong tension

Thursday, 28. May 2020 12:59

Shares of HSBC Holdings, Europe’s largest bank by assets, dropped during trading on the London Stock Exchange on Thursday after Beijing approved the contentious Hong Kong national security bill.

According to the United States, the passage of the bill will jeopardize Hong Kong's autonomy and status as a financial hub.

HSBC's shares listed on the LSE lost 3.93% to 381 pence at 12:45 pm CET. On the Hong Kong Stock Exchange, HSBC closed 0.94% in the red. The Hong Kong-founded bank generates the bulk of its profits in Asia.

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Breaking the News / JC