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CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

HSBC’s profit jumps 28% for Q3

The group reported a pre-tax profit of US$5.9 billion for the third quarter, 28% higher than the US$4.6 billion a year ago

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HSBC Holdings on Monday posted a better-than-expected rise in profit for the third quarter, with gains supported by its Asia business.

The group reported a pre-tax profit of US$5.9 billion for the third quarter, 28% higher than the US$4.6 billion a year ago and more than the US$5.6 billion estimate which analysts expected.

Managing its expenses better also helped in the increased profits. Expenses for the quarter fell by 2.4% compared to the second quarter.

Revenue for the three months ending September grew by 6.3% year-on-year to US$13.8 billion.

In the company filing to the Hong Kong stock exchange, HSBC’s CEO John Flint said the company is delivering what it said it promised it would – growth in areas of strength and investing in the business while keeping a grip on costs.

Mr Flint has previously promised to invest US$17 billion by 2020 on technology and in China, switching from the group’s strategy focus on cost-cutting to growth. HSBC is ramping up on hiring in business units such as private banking and investment banking.

HSBC’s shares gained sharply to almost 5% at 3.15pm Hong Kong time, or HK$3.00, at HK$63.50.

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CFDs are a leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.

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