HSBC and Standard Chartered shares sink as Asian tariffs bite

While Bitcoin has seen a market decline, it's outperforming most tech stocks, the financial firm notes. Read more

HSBC names Futnani as global head of export finance

HSBC has announced that Manav Futnani will take over as the bank’s sole global head of export finance following the retirement of Philip Lewis.  Futnani has been global co-head of export finance since 2022, but fellow co-head Lewis revealed last month he had decided to retire after 40 years in the sector.  Futnani joined HSBC in 2003 and held export finance-focused roles in London, Hong Kong and Mumbai before moving to Dubai in 2014 to take up t…

HSBC and Standard Chartered shares plummet as 'outsized' tariffs bite

HSBC and Standard Chartered shares plunged on Monday as the lenders' exposure to Asian economies, which have been the hardest hit by President Donald Trump's latest tariffs, weighed on the stock price

Business Asian stock markets crash as Trump’s tariffs spark global recession fears

Asian stock markets from Shanghai to Tokyo and Sydney to Hong Kong cratered on Monday, hitting levels unseen in decades, as the fallout from U.S. President Donald Trump’s sweeping tariffs sent shockwaves through global economies. The Shanghai Composite plummeted over 8% at its peak before closing 7.3% down, while Hong Kong’s Hang Seng suffered a staggering 13.22% drop—its worst since 2008. Japan’s Nikkei 225 slid 7.8%, and an analyst described t…

HSBC and Standard Chartered shares sink as Asian tariffs bite

Shares in banking giants HSBC and Standard Chartered have taken a significant hit as the global trade war ramps up. HSBC was down nearly three per cent in early trading on Monday. The lender’s losses in the last five days have now topped 15 per cent. Meanwhile, Standard Chartered plunged nearly four per cent, with its five-day loss edging towards 20 per cent. Both lenders have extensive ties to Asian economies, which have been directly attacked …

A number of the major stock markets in the Asian region have collapsed markedly for the third day today (07). This is reportedly due to the adverse effects of tariffs introduced by US President Trump's administration. According to information released by The Spectator Index at 1.04 pm today (07), Japan's stock market suffered a 9.5% crash, while the Hong Kong stock market crashed 13.6% [...] The post Asian Stock Market Crash appeared first on IT…