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China's market turmoil poses hurdle for HSBC's Asia push

Sale of Brazilian unit and planned disposal of Turkish unit leave bank more reliant on Asia
Thursday, August 6, 2015 - 05:50

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CEO Stuart Gulliver says HSBC's performance in Asia will "undoubtedly" worsen in the second half amid a slowdown in Chinese growth and the Shanghai Composite Index's biggest monthly loss in six years in July.

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CEO Stuart Gulliver (above) says HSBC's performance in Asia will "undoubtedly" worsen in the second half amid a slowdown in Chinese growth and the Shanghai Composite Index's biggest monthly loss in six years in July.

London

JUST as Stuart Gulliver's effort to revive HSBC Holdings Plc's profit is showing signs of paying off, China's market turmoil is threatening to undermine it.

The lender posted a 10 per cent increase in first-half profit on Monday, helped by a surge in income from Asia. HSBC

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