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Bank of East Asia, Wing Hang Bank Ratings Lowered at HSBC

Aug. 2 (Bloomberg) -- Bank of East Asia Ltd., Wing Hang Bank Ltd. and Dah Sing Financial Group had their ratings lowered by HSBC Holdings Plc, who said the hype over the yuan business and mergers and acquisitions may be “overplayed.”

Bank of East Asia and Wing Hang were cut to “underweight” from “neutral” and Dah Sing Financial’s rating was lowered to “neutral” from “overweight.”

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To contact the reporter on this story: Shiyin Chen in Singapore at schen37@bloomberg.net

To contact the editor responsible for this story: Linus Chua at lchua@bloomberg.net

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