Banking giant HSBC shares rise on interim earnings hopes
AFP, August, 2005
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HONG KONG, (AFP) — Shares in banking giant HSBC were higher as the market looked forward to what it hoped would be strong interim results announced later in the day by the global lender.
By lunchtime HSBC shares had risen 0.55 percent to 127 Hong Kong dollars (16.3 US dollars). The bank accounts for about a third of the value of the benchmark Hang Seng Index and helped send the gauge up 0.4 precent.
The bank will release its interim results at 4:00 pm (0800 GMT), when analysts expect the global giant to to report pretax profit within a range of 9.2-10.4 billion US dollars for the six months to June, the first to be stated under the new International Financial Reporting Standards.
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The bank posted pretax profit of 10.251 billion dollars and a net profit of 7.23 billion dollars under the previous ...
