The London-based bank reported slower-than-expected quarterly profit growth, sending shares lower despite its announcement of a new share buyback of up to $1 billion.
HSBC's earnings update fell short of analyst expectations, weighing on investor sentiment and triggering a decline in its stock price during early trading.
The bank said the buyback program, which will run over the coming months, is part of its broader capital return strategy aimed at rewarding shareholders amid challenging market conditions.
While the profit growth missed forecasts, the new $1 billion buyback signals HSBC's commitment to maintaining shareholder confidence and supporting its share price in a turbulent environment.
Source: Wall Street Journal Markets · Summarized by HeadlinesBriefing