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HSBC backs Beijing

Could the lender risk a large commercial price for its political calculation?
HSBC backs Beijing

HSBC (HSBA) has publicly thrown its weight behind China’s proposed national security laws for Hong Kong, after the lender's Asia Pacific CEO Peter Wong signed a petition backing the controversial measures. While framed as an act of support for the city state’s economic recovery, investors will need to consider whether the development could open the lender up to boycotts or US sanctions.

IC TIP: Hold at 413p

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