(Bloomberg) — HSBC Holdings Plc, which draws more than two-thirds of its pretax income from Hong Kong, slumped after a report that the U.S. is mulling a move to punish banks in the city and destabilize the currency peg to the dollar.HSBC was specifically mentioned as a potential target, Bloomberg News has reported, citing people familiar. Secretary of State Michael Pompeo last month singled out Peter Wong, the bank’s Asia Pacific chief executive officer, for signing a petition supporting “Beijing’s disastrous decision to destroy Hong Kong’s autonomy.”HSBC fell as much as 3.1% in Hong Kong, the most in more than …read more
Source:: Yahoo Finance
