September 23, 2024 06:41 GMT
HSBC (HSBA: A3/A-): Hong Kong Problems
CREDIT UPDATE
- FT story on Sunday reporting a 6-fold "surge" in Hong Kong property loan defaults
- More than $3bn in exposure to defaulted commercial real estate loans
- $3.2bn "credit impaired" up from $576mm six months earlier
- Hong Kong makes up 45% of HSBC's commercial real estate exposure
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