A man walks past a logo of HSBC at its headquarters in Kuala Lumpur, Malaysia August 6, 2019.
The results from Europe's biggest bank showed the pressure it is under to deliver returns to long-suffering investors now that interest rates worldwide are rising.
In the third-quarter results, the lender booked a $500 million impairment related to the commercial real estate sector in mainland China.
HSBC's Asia-focused competitor Standard Chartered (STAN.L) reported last week an unexpected one-third plunge in third-quarter profit due to a nearly $1 billion combined hit from its exposure to China's real estate and banking sectors.
Reporting by Selena Li in Hong Kong and Lawrence White in London; Editing by Jamie FreedOur Standards: The Thomson Reuters Trust Principles.
Persons:
Lim Huey Teng, Jefferies, Joe Dickerson, Selena Li, Lawrence White, Jamie Freed
Organizations:
HSBC, REUTERS, Barclays, Europe's, Global Banking, Markets, Standard Chartered, Thomson
Locations:
Kuala Lumpur, Malaysia, HONG KONG, London, Hong Kong, Asia, China