Banks such as HSBC, UBS, Citicorp and Standard Chartered Asian
operations are all profitable. In fact, it is their Asian operations
that help reduced that huge losses from their US and EU operations.
Not surprising, they are closing US and EU branches and moving these
investment to Asia.
Also, apart from their sub prime problem, they are not plague with hedge
funds withdrawal problem.
baldeagle wrote:
> On Mar 18, 8:27 am, kingkong <hah...@[EMAIL PROTECTED]
> wrote:
>> The banks worth investing are those with substantial banking and wealth
>> management investment in Asia.
>
> Yes. Most Asian banks do not expose themselves
> like the finance houses in the USA...Asian banks have
> to comply with strictbanking rules on minimum reserve
> ratios.
>
> However, HSBC is regarded as an Asian bank (not
> so in reality, except its name. It has in fact relocated
> to UK).
>
> According to BBC, HSBC suffered a colossal loss
> (US$17.2 billions) in bad credit by the operations
> in the USA...
>
> HSBC re****ted a rise in profit in the previous year..
> but this year...when re****t on their US operations
> is due, like Bear Sterns, it will have to face the music.
>
> It is best...not to touch HSBC shares or sell them
> before the storm hit them.
>
> http://news.bbc.co.uk/2/hi/business/7274385.stm
> "HSBC has said it has suffered a $17.2bn (£8.7bn) loss
> after the decline in the US housing market hit the
> value of its loans. "
>
>
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