HSBC: Profit before tax slipped 34%, shares inched 0.43%


Asian stocks mixed opposite colors on February 23 trading when investors were wary of technology stocks’ volatility after Wall Street’s decline last night.

HSBC’s profit before tax in 2020 decreased by 34% compared to the same period last year. Photo: AFP

Mainland Chinese stock markets today closed in the red, with the Shanghai Composite slipping 0.17% to 3,636.36 points while Shenzhen Component fell 0.611% to 15,243.25 points. However, the Hong Kong Hang Seng Index today rose 1.03% to 30,632.64 points.

The red color also lingered on the Korean market with the Kospi falling 0.31% to close with 3,070.09 points. The Japanese stock market today closed for a holiday. In Australia, the S & P / ASX 200 index rose 0.86% and ended the day at 6,839.20 points.

Overall, the MSCI Asia-Pacific (excluding Japan) rose 0.36% today.

Shares of HSBC Financial Group listed in Hong Kong today became the focus of attention of the Asian market after the group announced that its pre-tax profit in 2020 was down 34% compared to the same period last year. down to $ 8.8 billion. In addition, HSBC also announced to pay a temporary dividend of 15 cents / share.

The aforementioned pre-tax profit of HSBC is still higher than the level of 8.3 billion USD predicted by analysts. On the Hong Kong market, shares of HSBC today rose 0.43%.

Technology stocks in Asia today “red fire” after the group of US shares Big Tech last night simultaneously fell. Significantly, shares of Alibaba listed in Hong Kong lost 1.2% while shares of two famous technology firms in China, Xiaomi and Kuaishou, fell 3.1% and 5.24%, respectively. In Korea, cLG Electronics slipped 5.12 percent, while Samsung Electronics fell 0.24 percent.

On the US stock market, the tech-oriented Nasdaq Composite index closed 2.46% last night to 13,533.05 points after shares of leading technology companies like Apple, Amazon, and Microsoft all fell. at least 2%.

In a technological development that has drawn the world’s attention, Facebook has reached an agreement with the Australian government and the social network will reinstate several news sites in the country. The deal came just days after Facebook restricted Australian users from searching and sharing news and blocked the accounts of certain state governments and emergency agencies.

The S&P 500 index fell 0.8% last night and ended Wall Street trading at 3,876.50. In contrast, the Dow Jones industrial average was upstream and closed up 27.37 points to 31,521.69.

Oil prices on the Asian market this afternoon increased after news that US oil production will slow to recover due to a severe frost last week that paralyzed oil production in Texas. Specifically, the price of Brent crude oil futures increased by 1.64% to $ 66.31 / barrel while the US crude futures price reached the 62.61 USD / barrel, 1.47% increase.

The US dollar index against other major currencies edged up today to 90,088, after slipping to 89,943. Japanese Yen strengthens and converts 105.13 JPY to “eat” 1 USD, compared to over 105.6 JPY / USD yesterday, while the Australian dollar also appreciated and changed hands 1 AUD / 0.7905 USD, compared with fluctuation 1 AUD changed about 0.777 USD set at the end of last week.

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