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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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  • 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