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Spain supports Vietnam’s sustainable tourism development
Spain has helped Vietnam develop its tourism in a sustainable manner and in line with set orientations, according to participants at a ceremony in Hanoi on May 21.
HSBC's stock price slumped more than 9.0 percent Thursday in Hong Kong after the global banking giant reported a third-quarter earnings plunge and warned of "significant headwinds" ahead.
Europe's biggest bank reported Wednesday that underlying pretax profits sank 35 percent in the three months to September to about $3.0 billion, as bad loans rose in the United States, Hong Kong, Brazil and the Middle East.
The stock finished down 9.1 percent at HK$61.70, as the Hang Seng index ended 5.25 percent lower at 18,963.89.
"As a global bank, HSBC is unlikely to be insulated from the European-debt crisis. Its third-quarter operating data suggest a weak outlook for the bank's earnings outlook ahead," Wing Fung Financial research chief Mark To told Dow Jones Newswires.
HSBC chief executive Stuart Gulliver said in the earnings release that economic and political uncertainty, particularly in Europe, had hit the banking sector's performance in the quarter.
"Against this backdrop, HSBC remains resilient, with a strong balance sheet and robust liquidity," he said.
Asia-focused HSBC added that its exposure to the debt of weak eurozone states Greece, Ireland, Italy, Portugal and Spain stood at $5.5 billion at the end of the third quarter, down from $8.2 billion on June 30.
The bank's share price slumped 5.04 percent on Wednesday to 510.40 pence on London's FTSE 100 index, which finished down 1.92 percent -- although equities were down across the board on eurozone debt crisis worries.
