KBW Provides Color on HSBC

KBW provided color on HSBC HBC. In a research report published today, KBW commented on HSBC's plans to review its U.S. operations. In the report, KBW states, “In an effort to redefine its global strategy, HSBC recently announced it is conducting a strategic review of its U.S. ops, including a review of the bank's credit card portfolio and branch network. As a part of this exercise, it is expected that HSBC will look to sell its upstate NY branch network, including over 170 branches and nearly $22 bill. in deposits.” On Monday, HSBC lost 1.73% of its value to finish the day at $48.97. Its shares continued to slide in today's pre-market trading, falling 2.7% to stand around $47.65.