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HSBC Holdings PLC

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  • HONG KONG— China's manufacturing fell to the lowest level in nearly a year as new orders shrank, according to a report Tuesday that underscored the weakening outlook for the world's second biggest economy. HSBC's preliminary manufacturing index based on a survey of factory purchasing managers dropped to an 11- month low of 49.2 in March from February's 50.7.

  • SHANGHAI, March 24- China stocks fell on Tuesday, with investors taking profits after nine straight days of gains after a survey showed manufacturing activity contracted, but futures markets showed the market remains bullish in the medium term. "The weak HSBC flash may exert some corrective pressure on economy-related stocks such as banks, steel and...

  • *HSBC/ Market flash PMI signals persistent weakness in economy. BEIJING, March 24- Activity in China's factory sector dipped to a 11- month low in March as new orders shrank, a private survey showed, signalling persistent weakness in the world's second-largest economy that will likely fuel calls for more policy easing to support growth. The flash HSBC/ Markit...

  • *Gold largely retains gains near $1,185. SINGAPORE, March 24- Gold gave back some gains from a four-day rally on Tuesday but the metal was still near a two-week high touched earlier as expectations grew that a hike in U.S. interest rates could be pushed to September. Gold, a non-interest paying asset, had been trending downwards before the rally on expectations of a...

  • SINGAPORE, March 24- Oil prices dropped on Tuesday after activity in China's factory sector fell to an 11- month low and as Saudi Arabia said its production was close to an all-time high. That followed an overnight report that Saudi Arabia, OPEC's biggest producer, was now pumping around 10 million barrels of crude oil per day, a near all-time high and some 350,000...

  • HONG KONG, March 24- China's yuan firmed against the dollar on Tuesday, after the central bank set a stronger midpoint for the second consecutive day, shrugging off a weak survey of March factory activity. China's manufacturing activity dipped to a 11- month low in March as new orders shrank, signaling persistent weakness in China that will likely fuel calls for...

  • SINGAPORE, March 24- Oil prices edged lower in early Asian trade on Tuesday after activity in China's factory sector fell to an 11- month low, stoking worries over the strength of the world's No.2 economy. Brent crude oil futures were trading down 11 cents at $55.81 a barrel at 0215 GMT. Worries over slowing growth in China's economy have contributed to a global...

  • HONG KONG— China's manufacturing fell to the lowest level in nearly a year as new orders shrank, according to a report Tuesday that underscored the weakening outlook for the world's second biggest economy. HSBC's preliminary manufacturing index based on a survey of factory purchasing managers dropped to an 11- month low of 49.2 in March, from February's 50.7.

  • TOKYO, March 24- An index of Asian shares erased its early gains on Tuesday after a measure of Chinese factory activity unexpectedly skidded to an 11- month low. MSCI's broadest index of Asia-Pacific shares outside Japan was down about 0.1 percent. "A renewed fall in total new business contributed to a weaker expansion of output, while companies continued to trim...

  • *HSBC/ Market flash PMI signals persistent weakness in economy. BEIJING, March 24- Activity in China's factory sector dipped to a 11- month low in March as new orders shrank, a private survey showed, signalling persistent weakness in the world's second-largest economy that will likely fuel calls for more policy easing to support growth. The flash HSBC/ Markit...

  • BEIJING, March 24- Activity in China's factory sector dipped to a 11- month low in March as new orders shrank, a private survey showed, signalling persistent weakness in the world's second-largest economy that will likely add to calls for more policy easing. The flash HSBC/ Markit Purchasing Managers' Index dipped to 49.2 in March, below the 50- point level that...

  • *Aussie awaits China manufacturing PMI data for cues. TOKYO, March 24- The dollar dipped against the euro and yen on Tuesday, succumbing to downward pressure from lower U.S. debt yields as investors remained jittery after last week's surprisingly dovish Federal Reserve policy statement. The Fed mentioning the dollar can be traced back to Yellen, and we are now...

  • *U.S. crude futures had fallen 18 cents to $47.27 a barrel by 0010 GMT, after settling up 88 cents, or 1.9 percent, at $47.45 on Monday. *A poll of six analysts, taken ahead of weekly inventory reports from industry group the American Petroleum Institute and the U.S. Department of Energy's Energy Information Administration, showed a crude stock build of 5 million...

  • NEW YORK, March 23- Several major banks were hit on Monday with lawsuits filed by California- based analog circuits maker Maxim Integrated Products Inc alleging their smartphone banking apps infringe the company's patents. The complaints were filed against M&T Bank Corp and the U.S. affiliates of HSBC Holdings Plc and Banco Santander SA in federal court in...

  • WASHINGTON, March 23- U.S. bank regulators faulted crisis plans submitted by three foreign banks on Monday, saying they needed to improve the so-called living wills this year or face regulatory repercussions. The plans by BNP Paribas, Royal Bank of Scotland and HSBC showed shortcomings, and "significant progress" was needed, the U.S. Federal Reserve and the...

  • ZURICH, March 23- Liechtenstein's biggest bank LGT does not expect to suffer any fallout from assets it bought from HSBC's private bank months before that business was embroiled in a scandal over allegedly helping clients to dodge taxes. Vaduz- based LGT, owned by the principality's royal family, snapped up 7.1 billion Swiss francs of private banking assets...

  • DUBAI, March 22- HSBC Global Asset Management, an arm of HSBC Holdings, is buying bonds of commodity exporting countries because their valuations have dropped so far with the plunge of oil prices, an executive said. The firm, which managed $454 billion of assets at the end of December, is also increasing its exposure to beaten-down currencies of countries such as...

  • WASHINGTON, March 20- The National Credit Union Administration Board filed suit against HSBC Bank USA, alleging it did not fulfill trustee duties for 37 residential mortgage-backed securities trusts, the group said on Friday. Central, WesCorp, Members United, Southwest and Constitution credit unions between 2004 and 2007. The complaint said HSBC did not...

  • March 20- A federal judge rejected Bank of America Corp's request to dismiss a lawsuit in which Cook County, Illinois, accused the lender of targeting black and Hispanic borrowers in the Chicago area with subprime mortgages. District Judge Elaine Bucklo in Chicago said Cook County could pursue allegations that the bank steered minority borrowers into an...

  • NEW YORK, March 20 (Reuters)- The dollar stumbled on Friday, capping its worst weekly performance against the euro in more than two years, pulled lower by expectations U.S. interest rates will rise more slowly than previously expected. Jens Nordvig, Nomura's head of global foreign exchange, said one major reason for the sharp reduction in the Fed's rate forecasts...