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HSBC Q1 net profit falls 18% to US$4.3b

"Extreme levels" of volatility in world markets over Jan and Feb cited

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HSBC, along with other lenders, has continued to face turmoil in global markets, while stricter regulations have driven up costs.

Hong Kong

HSBC's net profit fell by a fifth in the first quarter as it was hit by "extreme levels" of volatility in world markets over January and February, with bad loan costs almost doubling.

Equity and currency markets from Asia to the Americas were sent into meltdown at the