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.
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