HSBC quarterly profit jumps but shares slide after flat revenue for wealth business - Reuters

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• HSBC quarterly profit jumps but shares slide after flat revenue for wealth business

  HSBC's third-quarter profit increased by 32%, driven by favorable interest rates and reduced credit losses, despite a flat revenue in its wealth business, which is affecting recent strong performance. The bank's shares fell 5% following the results, maintaining a 11% year-to-date gain. HSBC launched a $1 billion share buyback program, the same as the previous quarter. Despite the wealth division's flat revenue, core profitability targets are on track through 2028, despite the impact of the Iran war on inflation an…

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• Japan stands ready to take decisive action in currency market, finance minister says

  Japanese Finance Minister Satsuki Katayama announced the government's readiness to take decisive action in the currency market, emphasizing commitment to monitoring market movements and fiscal policy impacts. This move reflects a sense of urgency in addressing the yen's impact and long-term interest rates.

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• Moody's sees positive shift in Japan's growth, resilience remains key test

  Moody's upgrade to A1 reflects a positive shift in Japan's economic growth and resilience, with inflation expectations anchored around 2%. This marks a change from decades of weak growth and low inflation. Moody's maintains a stable outlook, focusing on reforms to boost productivity and address demographic challenges.

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