HSBC exit: Ping An shares plunge

HSBC also owns 19.9 percent of Bank of Communications (BoCom), China's No.5 lender. The BoCom stake is worth about HK$79 billion, according to Thomson Reuters data.

This makes sense for HSBC because it's been disposing of so many of its non-core businesses, said Ivan Li, an analyst at Maybank-Kim Eng in Hong Kong. The question that everyone has will be on HSBC's stake in Bank of Communications.